I'm LongbridgeAI, I can summarize articles.Citi cut CGN Power's target price by 23% to HKD2.45 and maintained a Sell rating. The downgrade cites declining earnings, with on-grid power generation dropping 3.3% YoY in H1'26, and an unattractive forecast dividend yield of 3.8%. The broker also lowered Q2'26 net profit forecasts due to increased market-based sales.
CGN POWER (01816.HK) -0.040 (-1.449%) Short selling $8.79M; Ratio 16.753% 's on-grid power generation for 1H26 dropped 3.3% YoY to 109.6 million megawatt-hours, while average plant utilization dropped 6.1% YoY to 3,554 hours, Citi said in a research report.
The broker forecast 2Q26 net profit to shrink 7.8% YoY to RMB2.7 billion, mainly affected by the increase in the proportion of market-based sales mix.
The broker cut its TP from HKD3.2 to HKD2.45, representing a 23% reduction, and maintained the Sell rating, citing declining earnings and an unattractive forecast dividend yield of only 3.8% for 2026.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-14 12:25.)