The power sector rose slightly in early trading. As of press time, China Resources Power (00836) rose 5.02% to HK $26.15; Datang International Power Generation Co.Ltd(601991) (00991) rose 4.20% to HK $1.49; Huaneng Power International Inc(600011) (00902) rose 4.78% to HK $4.82; Huadian Power International Corporation Limited(600027) electric power (01071) rose 2.55% to HK $3.22; China Power (02380) rose 0.83% to HK $4.88.
According to the data of the National Bureau of statistics, in November, the power generation was 654 billion kwh, an annual increase of 0.2%, an increase of 7% over the same period in 2019, and an average growth of 3.5% over the two years. The average daily power generation was 21.8 billion kwh, and the growth rate of power production continued to fall.
Citic Securities Company Limited(600030) pointed out that the supply and demand environment can improve, and thermal power will recover its profitability in 2022; Driven by the rising system cost and the improvement of power market mechanism, it is expected that China's power price is expected to reverse the previous price reduction trend and enter the rising cycle.
CITIC also pointed out that new energy operators are expected to reduce costs and expand roe by fully grabbing the technological dividends of the industrial chain. Wind power has taken the lead in the situation that the return of affordable new projects far exceeds the historical average return. High growth + roe expansion makes the new energy operation in the golden investment cycle.
(Zhitong finance and Economics Network)
