---
title: "Citi Cuts CGN POWER  TP 23% to HKD2.45, Maintains Sell Rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/292567184.md"
description: "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."
datetime: "2026-07-14T04:51:53.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/292567184.md)
  - [en](https://longbridge.com/en/news/292567184.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/292567184.md)
generator: "portal-rs"
---

# Citi Cuts CGN POWER  TP 23% to HKD2.45, Maintains Sell Rating

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.)

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---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**