Morningstar - Datang International Power Generation (A) (601991) Softening Coal Prices and Improving Demand Will Drive a Better 2017 Outlook for Coal-Fired IPPs.

Report

Morningstar

Jennifer Song

EUR 147.86 For Business Accounts Only

Softening Coal Prices and Improving Demand Will Drive a Better 2017 Outlook for Coal-Fired IPPs.

Despite improving power demand, Chinaâ€™s coal-fired independent power producersâ€™, or IPPsâ€™, fourth-quarter profits are set to be hit by surging coal prices. The benchmark Bohai-Rim Steam-Coal Price Index weekly average rose 58% year over year to CNY 595 in the fourth quarter, or up 25.3% sequentially. We estimate the operating margins for major coal-fired IPPs will be just around breakeven in the fourth quarter. For 2017, while the governmentâ€™s confirmation that power tariffs will be unchanged is...

23/01/2017 13 EN

Underlying

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.

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CNE000001Q02 Shanghai Stock Exchange China

Provider

Morningstar

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.

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Analysts

Jennifer Song

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Softening Coal Prices and Improving Demand Will Drive a Better 2017 Outlook for Coal-Fired IPPs.

Monthly LMI Update Independent Investment Research

DATANG INTL.PWR.GNRTN. sees a downgrade to Slightly Negative on account of less fundamental stars

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Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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