研报掘金丨开源证券：首予长江电力“买入”评级，低利率环境配置价值凸显

格隆汇07-08

开源证券研报指出，长江电力水电龙头资产稀缺，低利率环境配置价值凸显。公司隶属于三峡集团，拥有葛洲坝、三峡、向家坝、溪洛渡、乌东德、白鹤滩六座梯级电站，国内水电装机规模7169.5万千瓦。乌东德、白鹤滩资产注入后，公司收入和利润上升，盈利稳定性和现金流质量较高，低利率环境下具备配置价值。预计公司2026-2028年归母净利润分别为345.3/348.7/362.6亿元，当前股价对应PE分别为19.2...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2649963432?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2026-07-08 14:57","share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","id":"2649963432","market":"sh","top_or_hot":-1,"title":"研报掘金丨开源证券：首予长江电力“买入”评级，低利率环境配置价值凸显","media":"格隆汇","content":"<div>\n<p>开源证券研报指出，长江电力水电龙头资产稀缺，低利率环境配置价值凸显。公司隶属于三峡集团，拥有葛洲坝、三峡、向家坝、溪洛渡、乌东德、白鹤滩六座梯级电站，国内水电装机规模7169.5万千瓦。乌东德、白鹤滩资产注入后，公司收入和利润上升，盈利稳定性和现金流质量较高，低利率环境下具备配置价值。预计公司2026-2028年归母净利润分别为345.3/348.7/362.6亿元，当前股价对应PE分别为19.2...</p>\n\n<a href=\"https://www.gelonghui.com/rss/live/live.xml\">网页链接</a>\n\n</div>\n","source":"live_gelonghui","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>研报掘金丨开源证券：首予长江电力“买入”评级，低利率环境配置价值凸显</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n研报掘金丨开源证券：首予长江电力“买入”评级，低利率环境配置价值凸显\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-08 14:57 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.gelonghui.com/rss/live/live.xml><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>开源证券研报指出，长江电力水电龙头资产稀缺，低利率环境配置价值凸显。公司隶属于三峡集团，拥有葛洲坝、三峡、向家坝、溪洛渡、乌东德、白鹤滩六座梯级电站，国内水电装机规模7169.5万千瓦。乌东德、白鹤滩资产注入后，公司收入和利润上升，盈利稳定性和现金流质量较高，低利率环境下具备配置价值。预计公司2026-2028年归母净利润分别为345.3/348.7/362.6亿元，当前股价对应PE分别为19.2...</p>\n\n<a href=\"https://www.gelonghui.com/rss/live/live.xml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1634259391.SGD","symbol_name":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD","start_time":0,"source_url":"https://www.gelonghui.com/rss/live/live.xml","article_id":"2649963432","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2649963432","pubTimestamp":1783493856,"columns":[],"sourceInfo":{"source_id":"live_gelonghui","name":"格隆汇"},"weMediaInfo":null,"summary":"开源证券研报指出，长江电力水电龙头资产稀缺，低利率环境配置价值凸显。公司隶属于三峡集团，拥有葛洲坝、三峡、向家坝、溪洛渡、乌东德、白鹤滩六座梯级电站，国内水电装机规模7169.5万千瓦。乌东德、白鹤滩","collect":0,"end_time":0,"defaultTopTitle":"gelonghui.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"161027":"证券","600900":"长江电力","LU1634259391.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund AS SGD","LU0052750758.USD":"富兰克林中国基金A Acc","BK0006":"大央企重组","LU0205439572.USD":"富达亚太股息基金","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","LU1794554557.SGD":"Allianz All China Equity AT Acc H2-SGD","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU1048596156.SGD":"Blackrock Asian Growth Leaders A2 SGD-H","BK0188":"融资融券","LU1961090484.USD":"ALLIANZ ALL CHINA EQUITY \"A\" (USD) INC","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK0012":"证金概念","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU2495084118.USD":"ALLIANZ CHINA A-SHARES \"ATH\" (USDHDG) ACC","BK0028":"国家队","LU1064131003.USD":"FULLERTON LUX FUNDS - CHINA A EQUITIES \"A\" (USD) ACC","LU0039217434.USD":"HSBC GIF CHINESE EQUITY \"AD\" INC","LU1497733631.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","LU0831103253.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD","SG9999001846.SGD":"Schroder Asian Equity Yield A Dis SGD","LU2399975544.HKD":"ALLIANZ ALL CHINA EQUITY \"AT\" (HKD) ACC","BK0175":"白马股","LU1119993845.HKD":"FIDELITY ASIA PACIFIC DIVIDEND \"A\" (HKDHDG) INC","LU0823426480.USD":"法巴中国股票经典Dis","LU0188438112.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" ACC","HK0000181112.HKD":"DA CHENG CHINA BALANCED \"A\" (HKD) INC","LU1255011170.USD":"JPM CHINA A-SHARE OPPORTUNITIES \"A\" (USD) ACC","LU1522347837.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC A","LU0192582467.USD":"SCHRODER ISF ASIAN EQUITY YIELD \"A\" (USD) INC MF","HK0000181138.USD":"DA CHENG CHINA BALANCED \"A\" (USD) INC","LU1580142542.USD":"Blackrock Systematic China A-Share Opportunities A2 USD","BK0179":"煤电重组","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","LU1430594728.SGD":"Eastspring Investments - Global Low Volatility Equity AS SGD","LU1328615791.USD":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","BK0196":"行业龙头","BK0010":"央企","LU0516422366.SGD":"Fullerton Lux Funds - Asia Focus Equities A Acc SGD","LU1688375341.USD":"贝莱德中国灵活股票基金","LU1997245177.USD":"安联神洲A股基金","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","LU1497734951.SGD":"Eastspring Investments - Asian Low Volatility Equity Fund ASDM SGD-H","LU0898667661.SGD":"JPMorgan Funds - Asia Pacific Income A (mth) SGD-H","LU1720050803.USD":"安联全方位中国股票基金","LU1497733557.USD":"EASTSPRING INV ASIAN LOW VOLATILITY EQUITY FUND \"A\" (USD) INC A"},"translate_title":"Research Nuggets | Kaiyuan Securities: The first \"buy\" rating for Yangtze Power, and the value of low interest rate environment allocation is highlighted","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"161027":1.5,"600900":1.5},"content_text":"开源证券研报指出，长江电力水电龙头资产稀缺，低利率环境配置价值凸显。公司隶属于三峡集团，拥有葛洲坝、三峡、向家坝、溪洛渡、乌东德、白鹤滩六座梯级电站，国内水电装机规模7169.5万千瓦。乌东德、白鹤滩资产注入后，公司收入和利润上升，盈利稳定性和现金流质量较高，低利率环境下具备配置价值。预计公司2026-2028年归母净利润分别为345.3/348.7/362.6亿元，当前股价对应PE分别为19.2/19.0/18.3倍。首次覆盖，给予“买入”评级。","kind":"live","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"isLaohu8Offline":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.44.1","shortVersion":"4.44.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2649963432","isCrawlerRequest":true}