CGN Power Co Ltd Shs -H- Unitary 144A/Reg S
01816: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$9.69 | Ygmvs | Ntlfpscm |
CGN Power Earnings: There Were No Major Surprises; Solid Power Generation Growth
We maintain our fair value estimate of HKD 2.24 for CGN Power, following the firm’s largely in-line first-half 2023 results. We think the shares are attractive currently trading at around 0.8 times price/book and with more than a 5% dividend yield for 2023. We estimate CGN’s net profit to grow at a five-year CAGR of 7.5% over our explicit forecast period, underpinned by its stable nuclear power operations.