China Longyuan Power Group Corp Ltd Class H

00916: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$6.10	Dstj	Jvybfnr

China Longyuan Earnings: Broadly In Line; Buyback to Support Share Price

Chokwai Lee

Oct 27, 2023

Following Longyuan’s broadly in line third-quarter 2023 results, we maintain our fair value estimate of HKD 12. We believe Longyuan is attractive given the firm’s strong renewable energy capacity growth, with 2024 price/book at around 0.6 times. We lower Longyuan’s Morningstar Uncertainty Rating to High from Very High as we think the firm will benefit from the government's commitment to support the renewable energy industry.

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