China Longyuan Power (916 HK_ CH)_H_A_ Buy_Buy_ Signs of weakness but value remains

更多资料加入知识星球：水木调研纪要 关注公众号：水木纪要 China Longyuan Power (916 HK/001289 CH) H/A: Buy/Buy: Signs of weakness but value remains China 1Q25 results were weak: Longyuan reported net profit for 1Q25 at RMB1,902m (-22% y-o-y) under PRC GAAP, and profit from continuing operation was (-16% q-o-q), lower than consensus and our estimates. Results were weak due to 1) seasonal weakness in wind resources and grid curtailments, 2) higher staff costs and D&A, which were in-line with increase in wind and solar capacity (+20% YoY ...