电力运营商行业:6月月度社会用电量数据发布

国证国际
29 Jul

事件:国家能源局公布2025 年6 月全社会用电量数据。6 月全社会用电量同比增5.4%,增速环比提升1 个百分点;上半年全社会用电量累计增3.7%,持续回升。根据国家统计局数据,6 月规上工业发电量同增1.7%,增速持续回升。我们认为6 月社会用电量增速明显回升,电力需求累计增速持续回升。目前港股电力运营商板块整体估值低,业绩增速快于行业增速,多个股票的股息率超过或接近6%;煤炭价格走低,对火电...

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