Huaneng’s Net Loss in Fourth-Quarter 2016 is Disappointing; Lowering FVE to HKD 6.80.
We lower our fair value estimate for no-moat-rated Huaneng to HKD 6.80 per share, from HKD 7.40, following the company’s disappointing fourth-quarter 2016 result that missed our expectation, with a quarterly net loss of CNY 0.6 billion, which led to a 37.6% decline in full-year 2016 net profit to CNY 8.5 billion. The sharp 26% sequential jump in fourth-quarter coal prices hurt Huaneng, and we estimate Huaneng will continue to be loss-making in first-quarter 2017, as the weekly average of BSPI re...Huaneng Power International is engaged in investment, construction, operation and management of power plants. Through its subsidiaries, Co. is also engaged in power generation; development of wind power project; production and sale of electricity; heat supply; construction and operation of power plants and related construction projects; wholesale of coal; construction, operation and management of hydropower, cogeneration power and related projects; provision of utility services; and consultancy in waste recycling industrial waste management and recycling. As of Dec 31 2010, Co. had controlling generation capacity and equity-based generation capacity of 50,935 MW and 45,340 MW, respectively.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.