Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
JPM: Preferred Renewable Energy H Shrs GOLDWIND (02208.HK), GCL TECH (03800.HK) and CGN POWER (01816.HK)
Recommend 38 Positive 57 Negative 15 |
||||
|
||||
|
JPM released a report updating its model following the 1Q results announcements of mainland renewable energy stocks. In the upstream wind power segment, the bank continues to favor wind turbine exports and the offshore wind theme, maintaining Overweight ratings on GOLDWIND (02208.HK) H shares and ORIENT WIRES & CABLES (603606.SH). Supported by strong demand for energy storage systems and the AIDC energy storage theme, the bank is positive on SUNGROW POWER (300274.SZ) and DEYE (605117.SH). The bank remains selective on solar manufacturers, preferring players with cost leadership and attractive valuations, and therefore favors GCL TECH (03800.HK) and DAQO New Energy Corp. (DQ.US). Among renewable power generators, it prefers CGN POWER (01816.HK) (benefiting from improvements in tariff mechanisms) and YANGTZE POWER (600900.SH) (stable tariffs and defensive yield investment). The bank noted that wind turbine exports to emerging markets and offshore wind development in China remain highlights for Chinas upstream wind power companies. It favors GOLDWIND (02208.HK) H shares and ORIENT WIRES & CABLES (603606.SH), both rated Overweight. However, due to MINGYANG SMART ENERGY (601615.SH)s weaker execution track record in recent years, the bank maintained an Underweight rating on the stock. Solar and energy storage: SUNGROW POWER remains the banks top pick in the segment. It believes more positive catalysts will emerge in 2H26 as AI data center energy storage deployment advances. DEYE is seen as a key beneficiary of regional energy security development. For patient investors, ARCTECH (688408.SH)s earnings are expected to recover as shipments normalize and renewable energy development in the Middle East progresses. Despite the industry downcycle, DAQO New Energy Corp. and GCL TECH (both rated Overweight) are still considered to offer value. On the negative side, due to the industry downcycle and valuation factors, the bank assigns Underweight ratings to LONGI GREEN ENERGY (601012.SH), TONGWEI (600438.SH), MAXWELL (300751.SZ) and S.C NEW ENERGY (300724.SZ). For alternative energy power producers, JPM expects differences in tariff policies across fuel types to persist into 2H26. The bank assigns an Overweight rating to (nuclear) CGN POWER (01816.HK), but Neutral ratings to (wind) CHINA LONGYUAN (00916.HK) and DATANG RENEW (01798.HK). Several provinces have introduced policies to maintain stable nuclear power tariffs through contracts for difference, while wind power tariffs are affected by market-oriented reforms. YANGTZE POWER (rated Overweight) remains the banks top defensive yield pick among hydropower companies. (da/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
AASTOCKS Financial News |
||||
Copied to Clipboard
 |
||||
