MengDian HuaNeng acquisition to boost net profit 31%

Inner Mongolia MengDian HuaNeng Thermal Power Corp's recent acquisition will enhance new energy capacity to over 5.5 million kilowatts, nearly 50% of its thermal power capacity.

The deal is projected to increase net profit attributable to parent from 2.325bn yuan to 3.04bn yuan in 2024, lifting earnings per share from 0.34 yuan to 0.40 yuan.

The transaction's price-to-earnings ratio of 8x compares favorably to recent market averages of 17x.