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<Research>HSBC Research: CN Energy Mkt Faces Oversupply; GOLDWIND/ HARBIN ELECTRIC/ PETROCHINA/ Others Preferred
Recommend 14 Positive 17 Negative 8 |
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China's energy market is currently facing an oversupply issue, HSBC Global Research issued a research report saying. As of October 2025, power output has increased by 70% since 2020, but demand has only risen by approx. 45%. The current energy supply appears sufficient to cope with the long-term growth of AI data centers (AIDC), with AIDC demand expected to achieve a CAGR of 32% by 2030, accounting for 9% of power demand, compared to only 2% in 2024, the broker noted. HSBC Global Research listed several recommended stocks, with all rated at Buy. For the wind energy and green fuel sector, the broker was optimistic about GOLDWIND (02208.HK), with target prices of $16.7/ RMB20.4 for its H-/ A-shares. In nuclear and hydropower supply, HSBC Global Research preferred HARBIN ELECTRIC (01133.HK), with a target price of $22. For grid equipment, PINGGAO ELEC (600312.SH) is favored, with a target price of RMB25.6. For oil/ natural gas sector, the broker liked PETROCHINA (00857.HK), with target prices of $10.1/ RMB11.7 for its H-/ A-shares. AASTOCKS Financial News Website: www.aastocks.com |
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