Datang International Power Generation (A)

Datang International Power Generation is engaged in the development and operation of power plants, the sale of electricity and thermal power, and the repair and testing power equipment; the provision of power related technical services; sale of coal; and the production and sale of chemical products. Through its subsidiaries, Co. is also engaged in the hydropower generation; wind power generation; power generation and heat supply; provision of coal chemistry related consulting service; import of power related fuel and equipment; and coal mining and sales.
  • Ticker601991
  • ISINCNE000001Q02
  • ExchangeShanghai Stock Exchange
  • SectorElectricity
  • CountryChina

An unfavourable environment weighs on DATANG INTL.PWR.GNRTN., which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of DATANG INTL.PWR.GNRTN. (CN), active in the Conventional Electricity industry. As regards its fundamental valuation, the title still shows 1 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date May 1, 2020, the closing price was CNY 2.14 and its target price was estimated at CNY 1.88.

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior

Jennifer Song

Morningstar | Datang’s 1Q Slightly Missed; Our FVE Remains Intact on Bearish Coal Price Outlook

After excluding one-off items from its first-quarter net profit of CNY 429.8 million, no-moat Datang’s performance was disappointing, with recurring net profit falling 28% year over year to CNY 380 million under PRC GAAP. Despite a 14% fall in the QHD 5,500 kcal benchmark coal price, Datang’s first-quarter performance implies a 3% rise in its unit cost. Besides a drop in operating leverage from the 5% fall in power sales volume that raises per unit cost, we think Datang has been relatively inefficient in its coal purchase strategy. Nonetheless, we expect Datang’s profitability to improve in th...

Jennifer Song

Datang’s 1Q Slightly Missed; Our FVE Remains Intact on Bearish Coal Price Outlook

After excluding one-off items from its first-quarter net profit of CNY 429.8 million, no-moat Datang’s performance was disappointing, with recurring net profit falling 28% year over year to CNY 380 million under PRC GAAP. Despite a 14% fall in the QHD 5,500 kcal benchmark coal price, Datang’s first-quarter performance implies a 3% rise in its unit cost. Besides a drop in operating leverage from the 5% fall in power sales volume that raises per unit cost, we think Datang has been relatively ineff...

Jennifer Song

Morningstar | Datang’s 2018 Result Slightly Missed; Our FVE Remains Intact on Bearish Coal Price Outlook.

In line with industrywide deteriorating profitability, Datang’s full-year 2018 result missed our expectations, due to higher-than-expected fuel cost. Net profit fall 18% year over year to CNY 1.2 billion, with unit fuel cost rising 4% year over year. We think this, compared with only 1% growth in QHD 5,500kcal spot coal price, indicates that coal-fired IPPs have little flexibility to pass on the higher coal costs. Although Datang’s full-year result implies a net loss in the fourth quarter, we think this was largely due to a CNY 0.5 billion impairment and other one-off items that are not sustai...

Feasibility Study Results in December to be a Catalyst for this Junior

Feasibility Study Results in December to be a Catalyst for this Junior