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<Research> Citi Maintains Buy on CHINA SHENHUA ENERGY (01088.HK) with TP at HKD54.7
Recommend 2 Positive 6 Negative 1 |
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Citi issued a research report noting that CHINA SHENHUA ENERGY (01088.HK)'s net profit for 1Q fell 11% YoY to RMB11.9 billion and declined 8% QoQ, representing 20% and 21% of the banks and the markets full-year forecasts, respectively, below expectations. The miss was mainly due to lower-than-expected profit contribution from associates and a higher proportion of minority interests. Excluding one-off items, core net profit was estimated at RMB11.9 billion, down 8% YoY but rebounding 25% QoQ. Citi noted that after acquiring assets from its parent company, Shenhua raised its 2026 guidance for commercial coal production and sales volume by 55% and 42% to 513.4 million tonnes and 618.1 million tonnes, respectively. Power generation guidance was also lifted by 29% to 288.1 billion kWh. The bank maintained its Buy rating on Shenhua with a TP of HKD54.7. (ec/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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