[ET Net News Agency, 29 July 2020] Daiwa Research raised its target price for China
Resources Power (CRP)(00836) to HK$10.9 from HK$9.4 and reaffirmed its "outperform"
rating.
The research house believes, under the current National ETS (Emissions Trading System)
mechanism, CRP will actually reap the most benefits from the policy move paradoxically,
even more than those pure renewable plays.
CRP explicitly highlighted that it is transitioning to renewable energy and plans to
raise the proportion of renewable energy to over 30% during the 2021-25 period (2019:
23%). Given its dedicated focus on coal-fired generation, Daiwa sees not much carbon
offset under CCERs (Chinese Certified Emission Reductions) likely to be obtained by CRP.
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00836 CHINA RES POWER
Nominal 
19.820 +0.140 (+0.711%) Others
29/07/2020 10:46
{I-bank focus}Daiwa raises CR Power (00836) to HK$10.9
| Remark: | Real time quote last updated: 25/04/2024 17:49 |
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