交银国际发表报告指，华润电力(00836.HK) 将会在3月20日公布2024全年业绩，经财务模型调整后，估计2024年公司核心盈利按年增长15.7%至127亿元。考虑到2025年风光项目限电率以及市场化交易量按年上升，同时火电点火价差预期按年下降，下调了公司风光项目利用率与平均电价1至2百分点。因此下调 2025和2026年盈利预测22%和21%。
该行以分部估值法得出的目标价下调至23.1元，目前公司6.8倍2025年预测市盈率已在5年历史平均以下，该行认为已部分反映公司在2025年电价及利用小时的不确定性，维持“买入”评级。
(ha/u)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-14 16:25。)
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