大和:广东省2025年长期电价结果未达市场预期 中广核电力明年每股盈利受影响

新浪港股
Dec 27, 2024
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  大和发布研究报告称,广东省公布明年长期电价结果,平均电价为每兆瓦时391.9元人民币,同比下降15.9%,并较当地标杆电价折让13.5%。

  虽然市场此前已有大量负面预期,但结果很可能与市场预期相差甚远,而且对当地煤电厂而言,前景不容乐观,因为大规模的电价下调或会抵销明年的所有单位利润。

  大和预期,中广核电力(01816)明年每股盈利亦会受到影响,将下跌3.8%至8.9分人民币,意味股息率约3.4%。然而,与国内10年期国库债券利率之间的收益率差距,加上电价结果不确定性移除,对部分长期基金来说或仍有一定的吸引力。

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