大和发表研究报告指，将华能国际(00902.HK) 的评级由“持有”升至“跑赢大市”，维持目标价5元。该行指，公司去年第四季能录得收支平衡，对市场属惊喜，而在煤价调整下，料今年的点火价差(Dark Spread)会按年升6%，至每兆瓦时131元人民币。据该行推算，单位燃料价格每跌1%会提振每股盈利介乎3%至5%。
该行表示，尽管国家发改委公布的新分成合同可能为电价下行提供支撑，认为华能国际的可再生能源电价在今年仍可能保持下行趋势，按年下降2%至3%。2024年前九个月，风能和太阳能已占公司盈利50%，预计2025年火电利润增长可能会部分被可再生能源盈利疲软所抵销。(vc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-28 16:25。)
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