The analyst rating from HSBC Global Research reflects a cautious outlook on Chinese power utilities due to weak power demand and supply, which are leading to declining power prices. The removal of price floors poses additional challenges for both thermal and renewable power utilities in terms of pricing and utilization. Despite this cautious stance on power utilities, the report highlights positive ratings for specific companies like CIMC ENRIC, GCL TECH, PINGGAO ELEC, and CKI HOLDINGS, indicating a belief in their potential for growth or stability amidst the broader market challenges.

CLSA

Outperform -> Neutral

downgrade

$60

2025-08-14

Reason

CLSA

Price Target

$60

2025-08-14

downgrade

Outperform -> Neutral

Reason

The analyst rating for CKI HOLDINGS (01038.HK) is maintained at Neutral by Goldman Sachs due to a few key factors. While the company reported a net profit of HKD4.35 billion for 1H25, with core net profit growth of 2% YoY in line with street consensus, the broker has cut its EPS forecast for 2025-27 by 4-5% and adjusted its target price slightly from HKD60.2 to HKD60. This indicates a cautious outlook despite the expected profit growth driven by favorable terms during the upcoming reset period and the solid performance of its UK business. The projected average annual profit growth of 9-10% over the next 2-3 years suggests potential, but the adjustments to forecasts and target price reflect a more conservative stance.

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01038 Should I Buy

01038 Should I Buy

Should You Buy CKI HOLDINGS (01038) Today? Analysis, Price Targets, and 2026 Outlook.

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