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<Research>Citi Downgrades CHINA RES POWER (00836.HK) to Sell on Unattractive Yield
Recommend 2 Positive 3 Negative 5 |
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CHINA RES POWER (00836.HK) announced its annual results for the year ended December 2025 yesterday. Citi Research issued a research report downgrading CHINA RES POWER from Neutral to Sell, and dropping its target price by 7.9% to $17.5 from $19, based on the discounted cash flow (DCF) model. Citi Research forecasted that CHINA RES POWER's net profit will decline due to reductions in electricity prices and utilization rates. With negative free cash flow in 2025, the Group's dividend payout ratio is anticipated to remain at 40%. Its forecasted dividend yield for 2026 is 5.1%, which is not attractive compared to the 4.2% 10-year US treasury yield, given the large earnings volatility. AASTOCKS Financial News Website: www.aastocks.com |
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