China Longyuan Power Group Corp Ltd Class H

00916: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$5.10	Lwbc	Wvxxjjgv

China Longyuan Earnings: Largely in Line; Shares Remain Undervalued

Chokwai Lee

Apr 26, 2023

Following Longyuan’s broadly in line first-quarter 2023 results, we keep our fair value estimate of HKD 14. We think the weak 2022 results and subsidy audit concerns have been largely reflected in the current share price. We believe Longyuan is attractive given the firm’s strong renewable energy capacity growth, with 2023 price/book of around 0.8 times.

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