China Longyuan Power Group Corp Ltd Class H
00916: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$4.80 | Msmyv | Llttjwvt |
China Longyuan Earnings: Broadly In Line; Buyback to Support Share Price
Following Longyuan’s broadly in line third-quarter 2023 results, we maintain our fair value estimate of HKD 12. We believe Longyuan is attractive given the firm’s strong renewable energy capacity growth, with 2024 price/book at around 0.6 times. We lower Longyuan’s Morningstar Uncertainty Rating to High from Very High as we think the firm will benefit from the government's commitment to support the renewable energy industry.