CITIC Securities: The power sector is expected to迎来 a dual opportunity for fundamental and valuation recovery

CITIC Securities’ research report says the ongoing conflict between Iran and the U.S. continues to disrupt global energy supply chains, highlighting the need for energy to be independently controlled and reliably manageable. China’s energy consumption mix is diverse, and the overall risks from external dependency are under control; the transition to clean energy has achieved significant results, but further development and improvement are still needed in infrastructure and high-end manufacturing. Under the call to safeguard energy security and advance the energy transition, it is expected that electricity price policies will be introduced one after another to drive electricity prices to reach their low point sooner and then rebound, boosting investors’ enthusiasm for the power sector. The power sector is expected to face an opportunity for a dual repair in both fundamentals and valuation.