A c t i o n | 05 Jan 2025 23:47:29 ET │ 21 pages China Longyuan Power Group (0916.HK) 2025-26E Profit Cuts on Drop in Tariff and Less New Capacity CITI'S TAKE Our Longyuan net profits are cut 4.1% for 2025E and 9.2% for 2026E owing to more tariff cuts amid competition and less new capacity with completion delay based on company update. Our DCF TP is -10% to HK$7.20/share. While we forecast its net profit to +2.9% yoy to Rmb6,381m in 2024E with less impairment loss yoy in 4Q, improved from -11.4% yoy to Rmb5 ...