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[Citic Securities: the high certainty that the public utility industry benefits from profitability and growth is of great investment value] Securities Times e Company NewsPinocasinonodepositbonusAccording to Citic Securities Research report, the net profit of public utilities increased by 70% in 2023 compared with the same period last year, and the release of profit elasticity mainly came from the downward coal price driving thermal power boards.Pinocasinonodepositbonus...

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[Citic Securities: public utilities industry benefits from high certainty of profitability and growth and great investment value] Securities Times e Company News, CITIC Securities Research News said that the net profit of the public utility industry in 2023 increased by 70% compared with the same period last year, and the release of profit elasticity was mainly due to the sharp improvement in profits in the thermal power sector driven by the downward price of coal. ROE reached 8.2%, which has returned to the level before the current round of coal price increases. Thermal power continues to benefit from cost-side improvement to promote performance repair, hydropower performance benefits from rising electricity prices-expansion of installed capacity increases and still needs to be used for hours of recovery to promote elastic release, nuclear power performance has improved steadily under installed power expansion, new energy installation scale has expanded rapidly, but absorption problems have begun to be exposed, gas benefit has increased and gross difference repair has increased steadily. In the current weak macro environment, the industry benefits from the high certainty of profitability and growth, and has great investment value. The downward trend of interest rates and the decline in social return expectations are still supporting the revaluation of assets with long-term characteristics in the industry.