Dongfang Electric's stock price increased by over 5% intraday, Huatai Securities maintains a "Buy" rating

China Power Equipment (01072) rose more than 5% in early trading, as of press time, the stock price increased by 3.18%, currently at HKD 38.24, with a trading volume of HKD 356 million.

On April 30, China Power Equipment and a North American client held a formal signing ceremony for autonomous gas turbine exports at the China Power Turbine Factory; the signed contract involves 10 units of 50MW G50 autonomous gas turbines, marking the first phase of the cooperation project. It is reported that the board of directors approved the China Power Turbine’s autonomous gas turbine core capacity enhancement project, expecting that by early 2028, the autonomous G50 capacity will reach 20-30 units.

Huatai Securities believes that, amid the current global gas turbine production tightness, China Power Equipment is expected to benefit fully, and is optimistic that future overseas orders will gradually be realized, contributing to profit flexibility. In February 2025, the company announced a shareholder return plan for the next three years, clearly stating that, based on the dividend ratio in 2024, the dividend ratios for 2025-2027 will increase by at least 1 percentage point each year. The company’s A/H shares are maintained at a “Buy” rating.

(Edited by: Dong Pingping)

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