Daiwa Says HUANENG POWER 2Q Results May Confirm Earnings Have Peaked, Reiterates 'Underperform' Rating
I'm LongbridgeAI, I can summarize articles.Daiwa Securities reiterated its 'Underperform' rating on Huaneng Power, citing weak Q2 results with recurring profit down 54.7% YoY. The broker suggests earnings may have peaked, as falling coal price benefits are being offset by pressure on electricity tariffs. Daiwa maintained a HKD5.2 target price for the company's H-shares.
Daiwa issued a research report saying that HUANENG POWER (00902.HK) -0.380 (-6.678%) Short selling $47.50M; Ratio 47.538% 's 2Q results were weak, with recurring profit falling 54.7% YoY to RMB1.817 billion and net profit declining 51% to RMB2.102 billion. Profits from the coal-fired power, wind power and solar power businesses also decreased.
Daiwa noted that the 2Q results may confirm that HUANENG POWER (00902.HK) -0.380 (-6.678%) Short selling $47.50M; Ratio 47.538% 's earnings already peaked last year, while pressure on electricity tariffs is increasingly offsetting the benefits from falling coal prices. The broker reiterated its 'Underperform' rating on the company and its H-share TP of HKD5.2.(sl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-08-18 16:25.)