Bank of America Securities published a research report saying that China Resources Electric's performance for the first half of this year beat expectations. Net profit fell 15.5% year on year to HK$6.649 billion, higher than the bank's forecast of HK$5.6 billion, but slightly lower than the market consensus of about HK$7 billion. Management said that the increase in the dividend payout ratio in the first half of the year was to respond to shareholders' demands for better returns. The dividend policy will be formulated after evaluating the next five years of investment and China Resources New Energy's dividend plan. The dividend prospects are uncertain. The management also revealed that overall electricity installed growth is still faster than electricity demand, dragging down the overall electricity price decline, but the decline is already smaller than expected, and the 2027 contract electricity price may usher in better opportunities. The bank raised China Resources Electric's 2026 net revenue forecast by 12% to HK$11.888 billion, but lowered its 2027-2028 net revenue forecast by an average of about 4% to reflect continued pressure on wind and solar electricity prices and usage hours. The target price was raised from HK$19.3 to HK$19.9, reaffirming the “neutral” rating.

Bank of America Securities published a research report saying that China Resources Electric's performance for the first half of this year beat expectations. Net profit fell 15.5% year on year to HK$6.649 billion, higher than the bank's forecast of HK$5.6 billion, but slightly lower than the market consensus of about HK$7 billion. Management said that the increase in the dividend payout ratio in the first half of the year was to respond to shareholders' demands for better returns. The dividend policy will be formulated after evaluating the next five years of investment and China Resources New Energy's dividend plan. The dividend prospects are uncertain. The management also revealed that overall electricity installed growth is still faster than electricity demand, dragging down the overall electricity price decline, but the decline is already smaller than expected, and the 2027 contract electricity price may usher in better opportunities. The bank raised China Resources Electric's 2026 net revenue forecast by 12% to HK$11.888 billion, but lowered its 2027-2028 net revenue forecast by an average of about 4% to reflect continued pressure on wind and solar electricity prices and usage hours. The target price was raised from HK$19.3 to HK$19.9, reaffirming the “neutral” rating.