China Resources Power Holdings Co Ltd

00836: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$73.80	Jclf	Rvfxwlmg

China Resources Power: More Details for Proposed Listing of Renewable Segment; Shares Undervalued

Chokwai Lee

Jul 6, 2023

China Resources Power, or CR Power, provided more details on the proposed listing of its renewable segment. We keep our fair value estimate at HKD 22, and we believe CR Power is undervalued currently, with earnings expected to recover further in 2023 on the back of falling coal prices. CR Power’s key generation numbers for the first five months of 2023 were in line with our expectations and this should continue to underpin earnings.

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