Daiwa released a research report sayingfreebingowinrealmoney, reiterated the "buy" rating of China Power (02380), with a target price of 3freebingowinrealmoney.7 Hong Kong dollars was raised to HK$4, and the valuation was considered attractive. Although China Power did not disclose its first-quarter results, the bank expects the company to record a profit in the first quarter, as hydropower generation increased by 78% year-on-year and coal-fired power generation remained flat year-on-year. In addition, the company's early signs in terms of hydropower generation and water supply in the second and third quarters were better than expected. The bank raised its annual hydropower utilization hour forecast from 3899 hours to 4115 hours.