Shanghai Electric Power（600021）株式概要上海電力有限公司は、クリーンエネルギー、新エネルギー、スマートエネルギー技術の研究開発と応用、現代的なエネルギー供給、サービスの統合を中国国内および国際的に行っている。 詳細600021 ファンダメンタル分析スノーフレーク・スコア評価1/6将来の成長0/6過去の実績2/6財務の健全性2/6配当金4/6報酬株価収益率（ 24.9 x） CN市場（ 50.3 x）を下回っています。リスク分析負債は営業キャッシュフローで十分にカバーされていない 2%の配当はフリーキャッシュフローで十分にカバーされていない すべてのリスクチェックを見る600021 Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueCN¥Current PriceCN¥18.540.8% 割安 内在価値ディスカウントGrowth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-2b63b2016201920222025202620282031Revenue CN¥62.7bEarnings CN¥3.2bAdvancedSet Fair ValueView all narrativesShanghai Electric Power Co., Ltd. 競合他社ShenergySymbol: SHSE:600642Market cap: CN¥46.1bHuadian EnergySymbol: SHSE:600726Market cap: CN¥47.6bInner Mongolia MengDian HuaNeng Thermal PowerSymbol: SHSE:600863Market cap: CN¥42.2bBeijing Jingneng PowerSymbol: SHSE:600578Market cap: CN¥55.0b価格と性能株価の高値、安値、推移の概要Shanghai Electric Power過去の株価現在の株価CN¥18.5452週高値CN¥31.7852週安値CN¥8.62ベータ0.601ヶ月の変化5.70%3ヶ月変化-10.26%1年変化103.07%3年間の変化56.32%5年間の変化165.24%IPOからの変化182.27%最新ニュースお知らせ • Apr 28Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai ChinaReported Earnings • Apr 14Full year 2025 earnings released: EPS: CN¥0.87 (vs CN¥0.62 in FY 2024)Full year 2025 results: EPS: CN¥0.87 (up from CN¥0.62 in FY 2024). Revenue: CN¥41.9b (down 2.0% from FY 2024). Net income: CN¥2.77b (up 59% from FY 2024). Profit margin: 6.6% (up from 4.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 30Shanghai Electric Power Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026お知らせ • Dec 26Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026Valuation Update With 7 Day Price Move • Dec 03Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to CN¥19.87, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Renewable Energy industry in China. Total returns to shareholders of 109% over the past three years.Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: CN¥0.37 (vs CN¥7.73 loss in 3Q 2024)Third quarter 2025 results: EPS: CN¥0.37 (up from CN¥7.73 loss in 3Q 2024). Revenue: CN¥11.7b (down 6.2% from 3Q 2024). Net income: CN¥1.29b (up CN¥23.1b from 3Q 2024). Profit margin: 11% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth.最新情報をもっと見るRecent updatesお知らせ • Apr 28Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai ChinaReported Earnings • Apr 14Full year 2025 earnings released: EPS: CN¥0.87 (vs CN¥0.62 in FY 2024)Full year 2025 results: EPS: CN¥0.87 (up from CN¥0.62 in FY 2024). Revenue: CN¥41.9b (down 2.0% from FY 2024). Net income: CN¥2.77b (up 59% from FY 2024). Profit margin: 6.6% (up from 4.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 30Shanghai Electric Power Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026お知らせ • Dec 26Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026Valuation Update With 7 Day Price Move • Dec 03Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to CN¥19.87, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Renewable Energy industry in China. Total returns to shareholders of 109% over the past three years.Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: CN¥0.37 (vs CN¥7.73 loss in 3Q 2024)Third quarter 2025 results: EPS: CN¥0.37 (up from CN¥7.73 loss in 3Q 2024). Revenue: CN¥11.7b (down 6.2% from 3Q 2024). Net income: CN¥1.29b (up CN¥23.1b from 3Q 2024). Profit margin: 11% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Oct 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CN¥25.92, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 199% over the past three years.Valuation Update With 7 Day Price Move • Oct 10Investor sentiment improves as stock rises 19%After last week's 19% share price gain to CN¥25.12, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 163% over the past three years.New Risk • Oct 04New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.9% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Paying a dividend despite having no free cash flows.お知らせ • Sep 30Shanghai Electric Power Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025Shanghai Electric Power Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025New Risk • Sep 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change).Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 36%After last week's 36% share price gain to CN¥18.52, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 91% over the past three years.Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improves as stock rises 23%After last week's 23% share price gain to CN¥12.94, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 31% over the past three years.Buy Or Sell Opportunity • Aug 15Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 29% to CN¥11.76. The fair value is estimated to be CN¥9.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 66% in the next 2 years.お知らせ • Jun 30Shanghai Electric Power Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025Shanghai Electric Power Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025お知らせ • May 15Shanghai Power Equipment Research Institute agreed to acquire 77.88% stake in Shanghai Minghua Electric Power Technology Engineering Co., Ltd. from Shanghai Electric Power Co., Ltd. (SHSE:600021) for approximately CNY 200 millionShanghai Power Equipment Research Institute agreed to acquire 77.88% stake in Shanghai Minghua Electric Power Technology Engineering Co., Ltd. from Shanghai Electric Power Co., Ltd. (SHSE:600021) for approximately CNY 200 million on May 14, 2025. A cash consideration of CNY 202 million will be paid by Shanghai Power Equipment Research Institute. As part of consideration, CNY 202 million is paid towards common equity of Shanghai Minghua Electric Power Technology Engineering Co., Ltd. As of June 30, 2024, Shanghai Minghua Electric Power Technology Engineering Co., Ltd. reported total assets of CNY 205.53 million and total common equity of CNY 137.94 million.Board Change • May 14Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Dengwei Jing was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Apr 01Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: CN¥0.62 (up from CN¥0.49 in FY 2023). Revenue: CN¥42.7b (flat on FY 2023). Net income: CN¥2.05b (up 47% from FY 2023). Profit margin: 4.8% (up from 3.3% in FY 2023). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.お知らせ • Apr 01Shanghai Electric Power Co., Ltd., Annual General Meeting, Apr 23, 2025Shanghai Electric Power Co., Ltd., Annual General Meeting, Apr 23, 2025, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai Chinaお知らせ • Mar 28Shanghai Electric Power Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025お知らせ • Dec 27Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2024 Results on Apr 01, 2025Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2024 results on Apr 01, 2025New Risk • Oct 30New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows.Reported Earnings • Oct 29Third quarter 2024 earnings released: EPS: CN¥0.35 (vs CN¥0.25 in 3Q 2023)Third quarter 2024 results: EPS: CN¥0.35 (up from CN¥0.25 in 3Q 2023). Revenue: CN¥12.4b (up 11% from 3Q 2023). Net income: CN¥1.29b (up 85% from 3Q 2023). Profit margin: 10% (up from 6.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.お知らせ • Sep 30Shanghai Electric Power Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024Shanghai Electric Power Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CN¥9.67, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Renewable Energy industry in China. Total loss to shareholders of 20% over the past three years.Reported Earnings • Aug 27Second quarter 2024 earnings released: EPS: CN¥0.22 (vs CN¥0.14 in 2Q 2023)Second quarter 2024 results: EPS: CN¥0.22 (up from CN¥0.14 in 2Q 2023). Revenue: CN¥9.51b (down 3.9% from 2Q 2023). Net income: CN¥770.1m (up 89% from 2Q 2023). Profit margin: 8.1% (up from 4.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.お知らせ • Jun 28Shanghai Electric Power Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024Shanghai Electric Power Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024Upcoming Dividend • Jun 15Upcoming dividend of CN¥0.20 per shareEligible shareholders must have bought the stock before 21 June 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Chinese dividend payers (2.4%). Lower than average of industry peers (2.5%).Board Change • Jun 15High number of new directorsChairman of the Board Hua Lin was the last director to join the board, commencing their role in 2022.お知らせ • Apr 29Shanghai Electric Power Co., Ltd., Annual General Meeting, May 21, 2024Shanghai Electric Power Co., Ltd., Annual General Meeting, May 21, 2024, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai ChinaReported Earnings • Apr 27First quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.10 in 1Q 2023)First quarter 2024 results: EPS: CN¥0.20 (up from CN¥0.10 in 1Q 2023). Revenue: CN¥10.6b (up 2.6% from 1Q 2023). Net income: CN¥633.9m (up 116% from 1Q 2023). Profit margin: 6.0% (up from 2.8% in 1Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.New Risk • Apr 05New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.0% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows.お知らせ • Mar 29Shanghai Electric Power Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024Reported Earnings • Mar 07Full year 2023 earnings released: EPS: CN¥0.49 (vs CN¥0.068 in FY 2022)Full year 2023 results: EPS: CN¥0.49. Revenue: CN¥4.24m (down 100% from FY 2022). Net income: CN¥159.3k (down 100% from FY 2022). Profit margin: 3.8% (up from 0.5% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 78% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Renewable Energy industry in China.お知らせ • Dec 30Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2023 Results on Mar 30, 2024Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2023 results on Mar 30, 2024Reported Earnings • Oct 31Third quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.084 in 3Q 2022)Third quarter 2023 results: EPS: CN¥0.23 (up from CN¥0.084 in 3Q 2022). Revenue: CN¥11.2b (down 4.1% from 3Q 2022). Net income: CN¥767.4m (up 226% from 3Q 2022). Profit margin: 6.9% (up from 2.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.Reported Earnings • Aug 30Second quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.069 loss in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.069 loss in 2Q 2022). Revenue: CN¥9.90b (up 28% from 2Q 2022). Net income: CN¥493.7m (up CN¥675.3m from 2Q 2022). Profit margin: 5.0% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.お知らせ • Aug 11Shanghai Electric Power's Unit Plans Wind Power Project In SerbiaShanghai Electric Power Co., Ltd. (SHSE:600021) says unit plans to buy 51% stake in a firm of up to €27.5 million ($30.19 million) for wind power project in Serbia. It says unit plans financing of up to CNY 750 million ($104.11 million) via REITS which include photovoltaic power generation assets.お知らせ • Jun 28Shanghai Electric Power Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023Shanghai Electric Power Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023Reported Earnings • Mar 13Full year 2022 earnings released: EPS: CN¥0.068 (vs CN¥0.77 loss in FY 2021)Full year 2022 results: EPS: CN¥0.068 (up from CN¥0.77 loss in FY 2021). Revenue: CN¥39.2b (up 28% from FY 2021). Net income: CN¥320.8m (up CN¥2.34b from FY 2021). Profit margin: 0.8% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance.お知らせ • Jan 21Shanghai Electric Power Co., Ltd. agreed to acquire a 66.40% stake in K-Electric Limited (KASE:KEL) from KES POWER LTD.Shanghai Electric Power Co., Ltd. agreed to acquire a 66.40% stake in K-Electric Limited (KASE:KEL) from KES POWER LTD on January 20, 2023. Shanghai Electric Power will acquire 18,335 million shares of K-Electric Limited. Transaction has been approved by Development and Reform Commission of the People's Republic of China and the approval of the Pakistan Competition Commission and other prerequisites.Reported Earnings • Oct 29Third quarter 2022 earnings released: EPS: CN¥0.022 (vs CN¥0.13 loss in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.022 (up from CN¥0.13 loss in 3Q 2021). Revenue: CN¥11.7b (up 51% from 3Q 2021). Net income: CN¥268.6m (up CN¥617.9m from 3Q 2021). Profit margin: 2.3% (up from net loss in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 118 percentage points per year, which is a significant difference in performance.お知らせ • Jul 15Shanghai Electric Power Co., Ltd. announced that it has received CNY 1.231405194 billion in funding from State Power Investment Corporation LimitedOn July 13, 2022, Shanghai Electric Power Co., Ltd. closed the transaction. The company has issued 199,579,448 A shares at an issue price of CNY 6.17 per share for gross proceeds of CNY 1,231,405,194.16. The company has paid issuance expenses of CNY 707,547.17 and received net proceeds of CNY 1,230,697,646.99 in the transaction. After the completion of transaction, retuning investor State Power Investment Corporation Limited holding stake has been changed from 40.20% to 44.43% in the company. The investor acquired 4.23% stake in the transaction.Reported Earnings • May 02First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: CN¥0.026 (down from CN¥0.09 in 1Q 2021). Revenue: CN¥8.38b (up 16% from 1Q 2021). Net income: CN¥69.1m (down 74% from 1Q 2021). Profit margin: 0.8% (down from 3.7% in 1Q 2021). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 29%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance.Valuation Update With 7 Day Price Move • Oct 28Investor sentiment improved over the past weekAfter last week's 17% share price gain to CN¥11.38, the stock trades at a trailing P/E ratio of 46.4x. Average trailing P/E is 25x in the Renewable Energy industry in China. Total returns to shareholders of 66% over the past three years.Valuation Update With 7 Day Price Move • Oct 13Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to CN¥9.98, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 23x in the Renewable Energy industry in China. Total returns to shareholders of 68% over the past three years.Valuation Update With 7 Day Price Move • Sep 23Investor sentiment improved over the past weekAfter last week's 33% share price gain to CN¥11.58, the stock trades at a trailing P/E ratio of 47.2x. Average trailing P/E is 25x in the Renewable Energy industry in China. Total returns to shareholders of 68% over the past three years.Valuation Update With 7 Day Price Move • Sep 06Investor sentiment improved over the past weekAfter last week's 18% share price gain to CN¥8.45, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 22x in the Renewable Energy industry in China. Total returns to shareholders of 23% over the past three years.Reported Earnings • Aug 24Second quarter 2021 earnings released: EPS CN¥0.16 (vs CN¥0.32 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥7.07b (up 14% from 2Q 2020). Net income: CN¥437.7m (down 15% from 2Q 2020). Profit margin: 6.2% (down from 8.3% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.お知らせ • May 29Shanghai Electric Power Company Limited announced that it expects to receive CNY 2.2 billion in funding from China Yangtze Power Co.,Ltd., State Power Investment Corporation LimitedShanghai Electric Power Company Limited (SHSE:600021) announced a private placement for CNY 2.2 billion on May 28, 2021. The transaction will include participation from returning investor State Power Investment Corporation Limited and China Yangtze Power Co.,Ltd.Reported Earnings • Apr 29First quarter 2021 earnings released: EPS CN¥0.09 (vs CN¥0.042 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥7.20b (up 29% from 1Q 2020). Net income: CN¥268.0m (up 90% from 1Q 2020). Profit margin: 3.7% (up from 2.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.Reported Earnings • Mar 30Full year 2020 earnings released: EPS CN¥0.29 (vs CN¥0.36 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥24.2b (up 2.2% from FY 2019). Net income: CN¥889.2m (down 7.6% from FY 2019). Profit margin: 3.7% (down from 4.1% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.Is New 90 Day High Low • Mar 10New 90-day high: CN¥7.70The company is up 8.0% from its price of CN¥7.16 on 10 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 4.0% over the same period.お知らせ • Mar 05Shanghai Electric Power Company Limited to Report Fiscal Year 2020 Results on Mar 30, 2021Shanghai Electric Power Company Limited announced that they will report fiscal year 2020 results on Mar 30, 2021Is New 90 Day High Low • Jan 25New 90-day low: CN¥6.98The company is down 5.0% from its price of CN¥7.34 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 1.0% over the same period.Is New 90 Day High Low • Dec 12New 90-day low: CN¥7.08The company is down 6.0% from its price of CN¥7.57 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is down 2.0% over the same period.Reported Earnings • Oct 30Third quarter earnings releasedOver the last 12 months the company has reported total profits of CN¥1.26b, down 56% from the prior year. Total revenue was CN¥24.2b over the last 12 months, up 3.5% from the prior year.Is New 90 Day High Low • Oct 22New 90-day low: CN¥7.43The company is down 1.0% from its price of CN¥7.54 on 24 July 2020. The Chinese market is also down 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Renewable Energy industry, which is up 1.0% over the same period.お知らせ • Oct 14Shanghai Electric Power Company Limited to Report Q3, 2020 Results on Oct 30, 2020Shanghai Electric Power Company Limited announced that they will report Q3, 2020 results on Oct 30, 2020お知らせ • Sep 22Shanghai Electric Power Company Limited has made a fresh Public Announcement of Intention to acquire 66.4% stake in K-Electric Limited (KASE:KEL).Shanghai Electric Power Company Limited has made a fresh Public Announcement of Intention to acquire 66.4% stake in K-Electric Limited (KASE:KEL) on June 30, 2020. Shanghai Electric Power Company Limited will acquire up to 66.40 voting shares of K-Electric Limited subject to receipt of regulatory and other approvals. As of September 21, 2020, Shanghai Electric obtained prerequisites such as the approval of the Development and Reform Commission of the People's Republic of China and the approval of the Pakistan Competition Commission.お知らせ • Jul 09Shanghai Electric Power Company Limited to Report First Half, 2020 Results on Aug 25, 2020Shanghai Electric Power Company Limited announced that they will report first half, 2020 results on Aug 25, 2020株主還元600021CN Renewable EnergyCN 市場7D10.6%-1.9%-0.05%1Y103.1%5.5%34.9%株主還元を見る業界別リターン: 600021過去 1 年間で5.5 % の収益を上げたCN Renewable Energy業界を上回りました。リターン対市場: 600021過去 1 年間で34.9 % の収益を上げたCN市場を上回りました。価格変動Is 600021's price volatile compared to industry and market?600021 volatility600021 Average Weekly Movement6.3%Renewable Energy Industry Average Movement7.0%Market Average Movement6.4%10% most volatile stocks in CN Market10.1%10% least volatile stocks in CN Market4.2%安定した株価: 600021 、 CN市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: 600021の 週次ボラティリティ ( 6% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト18827,500Longxing Panwww.shanghaipower.com上海電力有限公司は、クリーンエネルギー、新エネルギー、スマートエネルギー技術の研究開発と応用、現代的なエネルギー供給、サービスの統合を中国国内外で行っている。太陽光発電、風力発電、ガス発電、火力発電、暖房、火力発電、電力取引、研究開発、技術開発、投資管理などの事業を展開している。また、電力コンサルティングと電力技術サービス、電力供給とエンジニアリング建設サービス、技術普及と応用サービスも提供している。上海電力は1882年に設立され、中国の上海に本社を置いている。もっと見るShanghai Electric Power Co., Ltd. 基礎のまとめShanghai Electric Power の収益と売上を時価総額と比較するとどうか。600021 基礎統計学時価総額CN¥49.65b収益（TTM）CN¥2.10b売上高(TTM)CN¥41.34b24.9xPER（株価収益率1.3xP/Sレシオ600021 は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計600021 損益計算書（TTM）収益CN¥41.34b売上原価CN¥31.05b売上総利益CN¥10.28bその他の費用CN¥8.18b収益CN¥2.10b直近の収益報告Mar 31, 2026次回決算日該当なし一株当たり利益（EPS）0.74グロス・マージン24.88%純利益率5.08%有利子負債／自己資本比率179.7%600021 の長期的なパフォーマンスは？過去の実績と比較を見る配当金2.0%現在の配当利回り48%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/25 14:36終値2026/05/25 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Shanghai Electric Power Co., Ltd. 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。5 アナリスト機関Jiani LiuChina International Capital Corporation LimitedFei WuCitic Securities Co., Ltd.Wei WangEverbright Securities Co. Ltd.2 その他のアナリストを表示
お知らせ • Apr 28Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai China
Reported Earnings • Apr 14Full year 2025 earnings released: EPS: CN¥0.87 (vs CN¥0.62 in FY 2024)Full year 2025 results: EPS: CN¥0.87 (up from CN¥0.62 in FY 2024). Revenue: CN¥41.9b (down 2.0% from FY 2024). Net income: CN¥2.77b (up 59% from FY 2024). Profit margin: 6.6% (up from 4.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 30Shanghai Electric Power Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026
お知らせ • Dec 26Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026
Valuation Update With 7 Day Price Move • Dec 03Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to CN¥19.87, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Renewable Energy industry in China. Total returns to shareholders of 109% over the past three years.
Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: CN¥0.37 (vs CN¥7.73 loss in 3Q 2024)Third quarter 2025 results: EPS: CN¥0.37 (up from CN¥7.73 loss in 3Q 2024). Revenue: CN¥11.7b (down 6.2% from 3Q 2024). Net income: CN¥1.29b (up CN¥23.1b from 3Q 2024). Profit margin: 11% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth.
お知らせ • Apr 28Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai China
Reported Earnings • Apr 14Full year 2025 earnings released: EPS: CN¥0.87 (vs CN¥0.62 in FY 2024)Full year 2025 results: EPS: CN¥0.87 (up from CN¥0.62 in FY 2024). Revenue: CN¥41.9b (down 2.0% from FY 2024). Net income: CN¥2.77b (up 59% from FY 2024). Profit margin: 6.6% (up from 4.1% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 30Shanghai Electric Power Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026
お知らせ • Dec 26Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026
Valuation Update With 7 Day Price Move • Dec 03Investor sentiment deteriorates as stock falls 17%After last week's 17% share price decline to CN¥19.87, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Renewable Energy industry in China. Total returns to shareholders of 109% over the past three years.
Reported Earnings • Oct 30Third quarter 2025 earnings released: EPS: CN¥0.37 (vs CN¥7.73 loss in 3Q 2024)Third quarter 2025 results: EPS: CN¥0.37 (up from CN¥7.73 loss in 3Q 2024). Revenue: CN¥11.7b (down 6.2% from 3Q 2024). Net income: CN¥1.29b (up CN¥23.1b from 3Q 2024). Profit margin: 11% (up from net loss in 3Q 2024). The move to profitability was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Oct 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CN¥25.92, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 199% over the past three years.
Valuation Update With 7 Day Price Move • Oct 10Investor sentiment improves as stock rises 19%After last week's 19% share price gain to CN¥25.12, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 163% over the past three years.
New Risk • Oct 04New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.9% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (9.0% average weekly change). Minor Risk Paying a dividend despite having no free cash flows.
お知らせ • Sep 30Shanghai Electric Power Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025Shanghai Electric Power Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025
New Risk • Sep 02New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (8.5% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.9% average weekly change).
Valuation Update With 7 Day Price Move • Sep 02Investor sentiment improves as stock rises 36%After last week's 36% share price gain to CN¥18.52, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 91% over the past three years.
Valuation Update With 7 Day Price Move • Aug 18Investor sentiment improves as stock rises 23%After last week's 23% share price gain to CN¥12.94, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 31% over the past three years.
Buy Or Sell Opportunity • Aug 15Now 25% overvalued after recent price riseOver the last 90 days, the stock has risen 29% to CN¥11.76. The fair value is estimated to be CN¥9.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 8.3% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 66% in the next 2 years.
お知らせ • Jun 30Shanghai Electric Power Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025Shanghai Electric Power Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025
お知らせ • May 15Shanghai Power Equipment Research Institute agreed to acquire 77.88% stake in Shanghai Minghua Electric Power Technology Engineering Co., Ltd. from Shanghai Electric Power Co., Ltd. (SHSE:600021) for approximately CNY 200 millionShanghai Power Equipment Research Institute agreed to acquire 77.88% stake in Shanghai Minghua Electric Power Technology Engineering Co., Ltd. from Shanghai Electric Power Co., Ltd. (SHSE:600021) for approximately CNY 200 million on May 14, 2025. A cash consideration of CNY 202 million will be paid by Shanghai Power Equipment Research Institute. As part of consideration, CNY 202 million is paid towards common equity of Shanghai Minghua Electric Power Technology Engineering Co., Ltd. As of June 30, 2024, Shanghai Minghua Electric Power Technology Engineering Co., Ltd. reported total assets of CNY 205.53 million and total common equity of CNY 137.94 million.
Board Change • May 14Less than half of directors are independentFollowing the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Director Dengwei Jing was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Apr 01Full year 2024 earnings: EPS and revenues miss analyst expectationsFull year 2024 results: EPS: CN¥0.62 (up from CN¥0.49 in FY 2023). Revenue: CN¥42.7b (flat on FY 2023). Net income: CN¥2.05b (up 47% from FY 2023). Profit margin: 4.8% (up from 3.3% in FY 2023). Revenue missed analyst estimates by 5.3%. Earnings per share (EPS) also missed analyst estimates by 36%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
お知らせ • Apr 01Shanghai Electric Power Co., Ltd., Annual General Meeting, Apr 23, 2025Shanghai Electric Power Co., Ltd., Annual General Meeting, Apr 23, 2025, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai China
お知らせ • Mar 28Shanghai Electric Power Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025
お知らせ • Dec 27Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2024 Results on Apr 01, 2025Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2024 results on Apr 01, 2025
New Risk • Oct 30New major risk - Dividend sustainabilityThe dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.1% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows.
Reported Earnings • Oct 29Third quarter 2024 earnings released: EPS: CN¥0.35 (vs CN¥0.25 in 3Q 2023)Third quarter 2024 results: EPS: CN¥0.35 (up from CN¥0.25 in 3Q 2023). Revenue: CN¥12.4b (up 11% from 3Q 2023). Net income: CN¥1.29b (up 85% from 3Q 2023). Profit margin: 10% (up from 6.2% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings.
お知らせ • Sep 30Shanghai Electric Power Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024Shanghai Electric Power Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024
Valuation Update With 7 Day Price Move • Sep 30Investor sentiment improves as stock rises 17%After last week's 17% share price gain to CN¥9.67, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Renewable Energy industry in China. Total loss to shareholders of 20% over the past three years.
Reported Earnings • Aug 27Second quarter 2024 earnings released: EPS: CN¥0.22 (vs CN¥0.14 in 2Q 2023)Second quarter 2024 results: EPS: CN¥0.22 (up from CN¥0.14 in 2Q 2023). Revenue: CN¥9.51b (down 3.9% from 2Q 2023). Net income: CN¥770.1m (up 89% from 2Q 2023). Profit margin: 8.1% (up from 4.1% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 6.5% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth.
お知らせ • Jun 28Shanghai Electric Power Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024Shanghai Electric Power Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024
Upcoming Dividend • Jun 15Upcoming dividend of CN¥0.20 per shareEligible shareholders must have bought the stock before 21 June 2024. Payment date: 21 June 2024. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 2.0%. Lower than top quartile of Chinese dividend payers (2.4%). Lower than average of industry peers (2.5%).
Board Change • Jun 15High number of new directorsChairman of the Board Hua Lin was the last director to join the board, commencing their role in 2022.
お知らせ • Apr 29Shanghai Electric Power Co., Ltd., Annual General Meeting, May 21, 2024Shanghai Electric Power Co., Ltd., Annual General Meeting, May 21, 2024, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai China
Reported Earnings • Apr 27First quarter 2024 earnings released: EPS: CN¥0.20 (vs CN¥0.10 in 1Q 2023)First quarter 2024 results: EPS: CN¥0.20 (up from CN¥0.10 in 1Q 2023). Revenue: CN¥10.6b (up 2.6% from 1Q 2023). Net income: CN¥633.9m (up 116% from 1Q 2023). Profit margin: 6.0% (up from 2.8% in 1Q 2023). Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth.
New Risk • Apr 05New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.3% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (9.0% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows.
お知らせ • Mar 29Shanghai Electric Power Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024
Reported Earnings • Mar 07Full year 2023 earnings released: EPS: CN¥0.49 (vs CN¥0.068 in FY 2022)Full year 2023 results: EPS: CN¥0.49. Revenue: CN¥4.24m (down 100% from FY 2022). Net income: CN¥159.3k (down 100% from FY 2022). Profit margin: 3.8% (up from 0.5% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 78% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Renewable Energy industry in China.
お知らせ • Dec 30Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2023 Results on Mar 30, 2024Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2023 results on Mar 30, 2024
Reported Earnings • Oct 31Third quarter 2023 earnings released: EPS: CN¥0.23 (vs CN¥0.084 in 3Q 2022)Third quarter 2023 results: EPS: CN¥0.23 (up from CN¥0.084 in 3Q 2022). Revenue: CN¥11.2b (down 4.1% from 3Q 2022). Net income: CN¥767.4m (up 226% from 3Q 2022). Profit margin: 6.9% (up from 2.0% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
Reported Earnings • Aug 30Second quarter 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.069 loss in 2Q 2022)Second quarter 2023 results: EPS: CN¥0.14 (up from CN¥0.069 loss in 2Q 2022). Revenue: CN¥9.90b (up 28% from 2Q 2022). Net income: CN¥493.7m (up CN¥675.3m from 2Q 2022). Profit margin: 5.0% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings.
お知らせ • Aug 11Shanghai Electric Power's Unit Plans Wind Power Project In SerbiaShanghai Electric Power Co., Ltd. (SHSE:600021) says unit plans to buy 51% stake in a firm of up to €27.5 million ($30.19 million) for wind power project in Serbia. It says unit plans financing of up to CNY 750 million ($104.11 million) via REITS which include photovoltaic power generation assets.
お知らせ • Jun 28Shanghai Electric Power Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023Shanghai Electric Power Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023
Reported Earnings • Mar 13Full year 2022 earnings released: EPS: CN¥0.068 (vs CN¥0.77 loss in FY 2021)Full year 2022 results: EPS: CN¥0.068 (up from CN¥0.77 loss in FY 2021). Revenue: CN¥39.2b (up 28% from FY 2021). Net income: CN¥320.8m (up CN¥2.34b from FY 2021). Profit margin: 0.8% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 109 percentage points per year, which is a significant difference in performance.
お知らせ • Jan 21Shanghai Electric Power Co., Ltd. agreed to acquire a 66.40% stake in K-Electric Limited (KASE:KEL) from KES POWER LTD.Shanghai Electric Power Co., Ltd. agreed to acquire a 66.40% stake in K-Electric Limited (KASE:KEL) from KES POWER LTD on January 20, 2023. Shanghai Electric Power will acquire 18,335 million shares of K-Electric Limited. Transaction has been approved by Development and Reform Commission of the People's Republic of China and the approval of the Pakistan Competition Commission and other prerequisites.
Reported Earnings • Oct 29Third quarter 2022 earnings released: EPS: CN¥0.022 (vs CN¥0.13 loss in 3Q 2021)Third quarter 2022 results: EPS: CN¥0.022 (up from CN¥0.13 loss in 3Q 2021). Revenue: CN¥11.7b (up 51% from 3Q 2021). Net income: CN¥268.6m (up CN¥617.9m from 3Q 2021). Profit margin: 2.3% (up from net loss in 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 118 percentage points per year, which is a significant difference in performance.
お知らせ • Jul 15Shanghai Electric Power Co., Ltd. announced that it has received CNY 1.231405194 billion in funding from State Power Investment Corporation LimitedOn July 13, 2022, Shanghai Electric Power Co., Ltd. closed the transaction. The company has issued 199,579,448 A shares at an issue price of CNY 6.17 per share for gross proceeds of CNY 1,231,405,194.16. The company has paid issuance expenses of CNY 707,547.17 and received net proceeds of CNY 1,230,697,646.99 in the transaction. After the completion of transaction, retuning investor State Power Investment Corporation Limited holding stake has been changed from 40.20% to 44.43% in the company. The investor acquired 4.23% stake in the transaction.
Reported Earnings • May 02First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behindFirst quarter 2022 results: EPS: CN¥0.026 (down from CN¥0.09 in 1Q 2021). Revenue: CN¥8.38b (up 16% from 1Q 2021). Net income: CN¥69.1m (down 74% from 1Q 2021). Profit margin: 0.8% (down from 3.7% in 1Q 2021). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) missed analyst estimates by 29%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 104 percentage points per year, which is a significant difference in performance.
Valuation Update With 7 Day Price Move • Oct 28Investor sentiment improved over the past weekAfter last week's 17% share price gain to CN¥11.38, the stock trades at a trailing P/E ratio of 46.4x. Average trailing P/E is 25x in the Renewable Energy industry in China. Total returns to shareholders of 66% over the past three years.
Valuation Update With 7 Day Price Move • Oct 13Investor sentiment deteriorated over the past weekAfter last week's 19% share price decline to CN¥9.98, the stock trades at a trailing P/E ratio of 40.7x. Average trailing P/E is 23x in the Renewable Energy industry in China. Total returns to shareholders of 68% over the past three years.
Valuation Update With 7 Day Price Move • Sep 23Investor sentiment improved over the past weekAfter last week's 33% share price gain to CN¥11.58, the stock trades at a trailing P/E ratio of 47.2x. Average trailing P/E is 25x in the Renewable Energy industry in China. Total returns to shareholders of 68% over the past three years.
Valuation Update With 7 Day Price Move • Sep 06Investor sentiment improved over the past weekAfter last week's 18% share price gain to CN¥8.45, the stock trades at a trailing P/E ratio of 32.8x. Average trailing P/E is 22x in the Renewable Energy industry in China. Total returns to shareholders of 23% over the past three years.
Reported Earnings • Aug 24Second quarter 2021 earnings released: EPS CN¥0.16 (vs CN¥0.32 in 2Q 2020)The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2021 results: Revenue: CN¥7.07b (up 14% from 2Q 2020). Net income: CN¥437.7m (down 15% from 2Q 2020). Profit margin: 6.2% (down from 8.3% in 2Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings.
お知らせ • May 29Shanghai Electric Power Company Limited announced that it expects to receive CNY 2.2 billion in funding from China Yangtze Power Co.,Ltd., State Power Investment Corporation LimitedShanghai Electric Power Company Limited (SHSE:600021) announced a private placement for CNY 2.2 billion on May 28, 2021. The transaction will include participation from returning investor State Power Investment Corporation Limited and China Yangtze Power Co.,Ltd.
Reported Earnings • Apr 29First quarter 2021 earnings released: EPS CN¥0.09 (vs CN¥0.042 in 1Q 2020)The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥7.20b (up 29% from 1Q 2020). Net income: CN¥268.0m (up 90% from 1Q 2020). Profit margin: 3.7% (up from 2.5% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings.
Reported Earnings • Mar 30Full year 2020 earnings released: EPS CN¥0.29 (vs CN¥0.36 in FY 2019)The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: CN¥24.2b (up 2.2% from FY 2019). Net income: CN¥889.2m (down 7.6% from FY 2019). Profit margin: 3.7% (down from 4.1% in FY 2019). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings.
Is New 90 Day High Low • Mar 10New 90-day high: CN¥7.70The company is up 8.0% from its price of CN¥7.16 on 10 December 2020. The Chinese market is down 3.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 4.0% over the same period.
お知らせ • Mar 05Shanghai Electric Power Company Limited to Report Fiscal Year 2020 Results on Mar 30, 2021Shanghai Electric Power Company Limited announced that they will report fiscal year 2020 results on Mar 30, 2021
Is New 90 Day High Low • Jan 25New 90-day low: CN¥6.98The company is down 5.0% from its price of CN¥7.34 on 27 October 2020. The Chinese market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 1.0% over the same period.
Is New 90 Day High Low • Dec 12New 90-day low: CN¥7.08The company is down 6.0% from its price of CN¥7.57 on 11 September 2020. The Chinese market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is down 2.0% over the same period.
Reported Earnings • Oct 30Third quarter earnings releasedOver the last 12 months the company has reported total profits of CN¥1.26b, down 56% from the prior year. Total revenue was CN¥24.2b over the last 12 months, up 3.5% from the prior year.
Is New 90 Day High Low • Oct 22New 90-day low: CN¥7.43The company is down 1.0% from its price of CN¥7.54 on 24 July 2020. The Chinese market is also down 1.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Renewable Energy industry, which is up 1.0% over the same period.
お知らせ • Oct 14Shanghai Electric Power Company Limited to Report Q3, 2020 Results on Oct 30, 2020Shanghai Electric Power Company Limited announced that they will report Q3, 2020 results on Oct 30, 2020
お知らせ • Sep 22Shanghai Electric Power Company Limited has made a fresh Public Announcement of Intention to acquire 66.4% stake in K-Electric Limited (KASE:KEL).Shanghai Electric Power Company Limited has made a fresh Public Announcement of Intention to acquire 66.4% stake in K-Electric Limited (KASE:KEL) on June 30, 2020. Shanghai Electric Power Company Limited will acquire up to 66.40 voting shares of K-Electric Limited subject to receipt of regulatory and other approvals. As of September 21, 2020, Shanghai Electric obtained prerequisites such as the approval of the Development and Reform Commission of the People's Republic of China and the approval of the Pakistan Competition Commission.
お知らせ • Jul 09Shanghai Electric Power Company Limited to Report First Half, 2020 Results on Aug 25, 2020Shanghai Electric Power Company Limited announced that they will report first half, 2020 results on Aug 25, 2020
