On June 26, China Resources Power (00836.HK) declined 3.19% in regular trading, trading at HKD 17.59/share, with turnover of HKD 141 million. The decline follows the formal completion of its subsidiary China Resources New Energy's A-share IPO process.

China Resources Power announced the final results of the spinoff listing of China Resources New Energy (001248.SZ) on the Shenzhen Stock Exchange, with the offer price set at RMB 10.11 per share. The IPO attracted approximately RMB 6.4 trillion in retail investor bids, oversubscribed more than 1,000 times, raising approximately RMB 21.3 billion. Daiwa maintained a Hold rating on China Resources Power, noting that while the spinoff is positive news, it has been largely anticipated by the market. The broker believes investor focus will now shift to electricity price trends and earnings visibility. The IPO valuation implies 1.21x price-to-book, compared to the parent's H-share valuation of 0.87x.

Short-selling data showed China Resources Power ranked first in short-selling value among utilities stocks on June 25, with HKD 208 million in short sales. The broader Independent Power Producers sector also declined, with peers including Huaneng Power down 1.62%, Datang Power down 1.97%, and CGN Power down 1.81%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)