---
title: "Daiwa: Pricing Set for CHINA RES POWER  Subsidiary CR New Energy A-Share IPO, Maintains Hold Rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290402111.md"
description: "Daiwa reports that China Res Power's subsidiary, CR New Energy, has priced its A-share IPO at RMB10.11 per share, raising approximately RMB21.3 billion. The valuation is 1.21x price-to-book, higher than the parent's H-shares. Daiwa maintains a Hold rating on China Res Power, viewing the spin-off as anticipated positive news and noting investors will now focus on electricity tariff trends and earnings visibility."
datetime: "2026-06-22T08:00:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290402111.md)
  - [en](https://longbridge.com/en/news/290402111.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290402111.md)
generator: "portal-rs"
---

# Daiwa: Pricing Set for CHINA RES POWER  Subsidiary CR New Energy A-Share IPO, Maintains Hold Rating

Daiwa said in a report that CHINA RES POWER (00836.HK) -0.100 (-0.545%) Short selling $43.01M; Ratio 16.248% 's subsidiary CR New Energy has completed the pricing of its A-share IPO at RMB10.11 per share, issuing 2.107 billion new shares, representing 16.2% of the enlarged share capital, raising approximately RMB21.3 billion. The IPO valuation is equivalent to 1.21x price-to-book, higher than the current 0.87x price-to-book for CHINA RES POWER's H shares. The listing is expected to unlock approximately RMB31.0 billion in value, equivalent to about RMB5.4 per share or HKD5.9 per share. The broker maintained a Hold rating on CHINA RES POWER, noting that the spin-off listing is positive news but largely anticipated by the market. It believes investors will shift focus to electricity tariff trends and earnings visibility going forward. (gc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-22 12:25.)

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