Latest news with #CLPHoldings
South China Morning Post
04-08-2025
- Business
- South China Morning Post
CLP Holdings sees growth potential in Tuen Mun industrial park as first-half profit falls
CLP Holdings , one of Hong Kong's two power utility companies, said it saw growth opportunities in a proposed industrial park in Tuen Mun, as it reported a decline in first-half net profit on Monday. In July, the city's government proposed reserving 301 hectares of land in Tuen Mun for industrial development, including 145 hectares of reclamation in Lung Kwu Tan and 45 hectares in Tuen Mun West, as well as 111 hectares of replanned space. The area to be reclaimed is equivalent to 10 Victoria Parks in Causeway Bay. The industrial park is located near CLP's Castle Peak and Black Point Power Stations, both in the New Territories. 'If this industrial park is developed, [CLP] would become one of the major facilities that will provide electricity,' said Chiang Tung-keung, chief executive officer of CLP Holdings, on Monday. 'As it is close to our power station, I'm sure that the work that we need to do to provide sufficient supply would not be that significant.' 'I'm looking forward to such paths being realised,' he said. Chiang spoke after the company said its first-half net profit fell 5.5 per cent from a year earlier to HK$5.62 billion (US$715.9 million). The quarter included one-time items, mainly related to the Wooreen Energy Storage System project in Australia, the company said in a statement. Operating earnings before fair-value movements fell 8 per cent in the first half to HK$5.23 billion, according to the company's interim results.
Business Insider
18-07-2025
- Business
- Business Insider
DBS Sticks to Their Buy Rating for CLP Holdings (CLPHF)
DBS analyst Patricia Yeung maintained a Buy rating on CLP Holdings today and set a price target of HK$74.90. The company's shares closed last Friday at $7.90. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. Yeung covers the Utilities sector, focusing on stocks such as CLP Holdings, Beijing Enterprises Water Group, and China Resources Gas Group. According to TipRanks, Yeung has an average return of 10.6% and a 70.45% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CLP Holdings with a $9.23 average price target, a 16.84% upside from current levels. In a report released on July 3, J.P. Morgan also maintained a Buy rating on the stock with a HK$70.00 price target. The company has a one-year high of $9.75 and a one-year low of $7.41. Currently, CLP Holdings has an average volume of 2,143.
RTHK
19-05-2025
- Business
- RTHK
CLP lowers fuel costs from May
CLP lowers fuel costs from May CLP Holdings says overall power consumption "softened" in the first quarter of 2025. File photo: RTHK CLP Holdings on Monday said it's lowering its monthly fuel costs due to declines in global prices. In releasing its quarterly results, CLP said monthly fuel costs for consumers are being lowered to 44.4 cents per unit of electricity from this month, 1.3 percent lower than at the beginning of the year. Hong Kong's biggest electricity provider said total sales fell by 2.6 percent year on year to 7,091 gigawatt hours (GWh) in the first three months of the year, with lower demand due to the "milder" temperatures. Sales in residential electricity fell by 5.2 percent year on year while sales in commercial, infrastructure and public services dropped by about 1 percent. CLP also said it has continued to exercise prudent cost controls to ensure "reasonably priced energy" and offer financial support to customers in need. The company declared its first interim dividend at HK$0.63 per share, same as last year.
Bloomberg
19-05-2025
- Business
- Bloomberg
EnergyAustralia Apologizes to Customers After Greenwashing Case
CLP Holdings Ltd.'s EnergyAustralia — one of the nation's 'big three' energy companies — apologized to customers for the marketing of its carbon offsetting products. The apology was part of a settlement with advocacy organization Parents for Climate, which launched legal action against the power company in mid-2023 claiming that the marketing of its 'Go Neutral' carbon offsetting products was misleading. EnergyAustralia also acknowledged that offsets do not undo the harms of burning fossil fuels.
