Stock 836 CHINA RESOURCES POWER HOLDINGS COMPANY LIMITED
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Financials China Resources Power Holdings Company Limited

Equities

836

HK0836012952

Independent Power Producers

Market Closed - Hong Kong S.E.
Other stock markets
 09:09:00 03/05/2024 BST 		5-day change 1st Jan Change
19.2 HKD +0.63% Intraday chart for China Resources Power Holdings Company Limited -2.24% +22.76%
04-25 China Resources Power Subsidiary Power Plant Output Up 1% in March MT
04-25 China Resources Power Holdings Company Limited Announces Operating Results for the Month and First Three Months Ended March 2024 CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 52,626 40,167 125,553 76,775 75,235 92,361 - -
Enterprise Value (EV) 1 136,660 138,473 246,114 200,759 230,344 272,888 298,648 316,370
P/E ratio 7.99 x 5.28 x 79.1 x 10.9 x 6.83 x 6.54 x 5.65 x 4.85 x
Yield 5.01% 7.56% 1.13% 3.67% 9.05% 5.95% 6.96% 7.97%
Capitalization / Revenue 0.78 x 0.58 x 1.4 x 0.74 x 0.73 x 0.85 x 0.79 x 0.75 x
EV / Revenue 2.02 x 1.99 x 2.74 x 1.94 x 2.23 x 2.52 x 2.57 x 2.56 x
EV / EBITDA 5.81 x 5.37 x 12.3 x 7.17 x 7 x 6.7 x 6.38 x 5.77 x
EV / FCF -67.2 x -14.1 x -13.9 x -23.9 x -23.2 x -14.4 x -28.8 x 41 x
FCF Yield -1.49% -7.1% -7.2% -4.19% -4.3% -6.95% -3.47% 2.44%
Price to Book 0.72 x 0.47 x 1.27 x 0.93 x 0.89 x 0.96 x 0.86 x 0.76 x
Nbr of stocks (in thousands) 4,810,444 4,810,444 4,810,444 4,810,444 4,810,444 4,810,444 - -
Reference price 2 10.94 8.350 26.10 15.96 15.64 19.20 19.20 19.20
Announcement Date 30/03/20 18/03/21 16/03/22 22/03/23 20/03/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 67,758 69,551 89,800 103,305 103,334 108,319 116,383 123,363
EBITDA 1 23,520 25,806 20,077 27,981 32,919 40,702 46,845 54,796
EBIT 1 12,888 14,093 5,479 13,551 18,198 23,502 27,198 31,454
Operating Margin 19.02% 20.26% 6.1% 13.12% 17.61% 21.7% 23.37% 25.5%
Earnings before Tax (EBT) 1 9,653 11,470 1,842 9,461 15,499 19,644 22,588 26,202
Net income 1 6,590 7,583 1,593 7,042 11,003 14,023 16,236 18,559
Net margin 9.73% 10.9% 1.77% 6.82% 10.65% 12.95% 13.95% 15.04%
EPS 2 1.370 1.580 0.3300 1.460 2.290 2.937 3.398 3.958
Free Cash Flow 1 -2,034 -9,826 -17,718 -8,413 -9,907 -18,977 -10,366 7,722
FCF margin -3% -14.13% -19.73% -8.14% -9.59% -17.52% -8.91% 6.26%
FCF Conversion (EBITDA) - - - - - - - 14.09%
FCF Conversion (Net income) - - - - - - - 41.61%
Dividend per Share 2 0.5480 0.6310 0.2950 0.5860 1.415 1.142 1.335 1.530
Announcement Date 30/03/20 18/03/21 16/03/22 22/03/23 20/03/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2021 S1 2022 S1 2023 S1
Net sales 1 34,842 42,239 50,409 51,484
EBITDA 11,467 - - -
EBIT 1 6,108 6,135 5,148 8,507
Operating Margin 17.53% 14.52% 10.21% 16.52%
Earnings before Tax (EBT) 1 - - 5,241 8,692
Net income 1 2,573 - 4,370 6,740
Net margin 7.38% - 8.67% 13.09%
EPS - - - -
Dividend per Share - - - -
Announcement Date 30/03/20 20/08/21 17/08/22 22/08/23
1HKD in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 84,034 98,306 120,562 123,984 155,109 180,528 206,287 224,009
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 3.573 x 3.809 x 6.005 x 4.431 x 4.712 x 4.435 x 4.404 x 4.088 x
Free Cash Flow 1 -2,034 -9,826 -17,718 -8,413 -9,907 -18,977 -10,366 7,722
ROE (net income / shareholders' equity) 9.21% 12.3% 1.83% 8.23% 13.2% 15.3% 16.2% 16.5%
ROA (Net income/ Total Assets) 3.11% 4.1% 0.58% 2.47% 3.63% 4.09% 4.24% 4.48%
Assets 1 211,976 184,754 273,669 285,676 302,892 342,708 382,581 414,621
Book Value Per Share 2 15.20 17.80 20.60 17.10 17.70 20.00 22.20 25.30
Cash Flow per Share 2 4.260 4.300 1.540 5.020 6.000 7.540 8.660 10.10
Capex 1 22,542 30,529 25,118 32,580 38,777 54,441 59,323 51,914
Capex / Sales 33.27% 43.89% 27.97% 31.54% 37.53% 50.26% 50.97% 42.08%
Announcement Date 30/03/20 18/03/21 16/03/22 22/03/23 20/03/24 - - -
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for China Resources Power Holdings Company Limited

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
21
Last Close Price
19.2 HKD
Average target price
21.79 HKD
Spread / Average Target
+13.47%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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