Board Change • May 20
High number of new and inexperienced directors There are 7 new directors who have joined the board in the last 3 years. The company's board is composed of: 7 new directors. 2 experienced directors. No highly experienced directors. Independent Director Yue Kesheng is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. お知らせ • Apr 28
Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026 Shanghai Electric Power Co., Ltd., Annual General Meeting, May 28, 2026, at 14:00 China Standard Time. Location: 8F, No. 585, Xujiahui Road, Shanghai China お知らせ • Mar 30
Shanghai Electric Power Co., Ltd. to Report Q1, 2026 Results on Apr 28, 2026 Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2026 results on Apr 28, 2026 お知らせ • Dec 26
Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2025 Results on Mar 31, 2026 Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2025 results on Mar 31, 2026 お知らせ • Sep 30
Shanghai Electric Power Co., Ltd. to Report Q3, 2025 Results on Oct 30, 2025 Shanghai Electric Power Co., Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 お知らせ • Jun 30
Shanghai Electric Power Co., Ltd. to Report First Half, 2025 Results on Aug 29, 2025 Shanghai Electric Power Co., Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 お知らせ • May 15
Shanghai 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 Shanghai 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. お知らせ • Apr 01
Shanghai Electric Power Co., Ltd., Annual General Meeting, Apr 23, 2025 Shanghai 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 28
Shanghai Electric Power Co., Ltd. to Report Q1, 2025 Results on Apr 29, 2025 Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 お知らせ • Dec 27
Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2024 Results on Apr 01, 2025 Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2024 results on Apr 01, 2025 New Risk • Oct 30
New major risk - Dividend sustainability The 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 29
Third 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 2% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 30
Investor 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. お知らせ • Sep 30
Shanghai Electric Power Co., Ltd. to Report Q3, 2024 Results on Oct 29, 2024 Shanghai Electric Power Co., Ltd. announced that they will report Q3, 2024 results on Oct 29, 2024 Reported Earnings • Aug 27
Second 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 28
Shanghai Electric Power Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Shanghai Electric Power Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 お知らせ • Apr 29
Shanghai Electric Power Co., Ltd., Annual General Meeting, May 21, 2024 Shanghai 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 27
First 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 05
New minor risk - Dividend sustainability The 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 29
Shanghai Electric Power Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Shanghai Electric Power Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Reported Earnings • Mar 07
Full 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 30
Shanghai Electric Power Co., Ltd. to Report Fiscal Year 2023 Results on Mar 30, 2024 Shanghai Electric Power Co., Ltd. announced that they will report fiscal year 2023 results on Mar 30, 2024 Reported Earnings • Oct 31
Third 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 30
Second 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 11
Shanghai Electric Power's Unit Plans Wind Power Project In Serbia Shanghai 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 28
Shanghai Electric Power Co., Ltd. to Report First Half, 2023 Results on Aug 29, 2023 Shanghai Electric Power Co., Ltd. announced that they will report first half, 2023 results on Aug 29, 2023 Reported Earnings • Mar 13
Full 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 21
Shanghai 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 29
Third 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. Reported Earnings • May 02
First quarter 2022 earnings released: EPS: CN¥0.026 (vs CN¥0.09 in 1Q 2021) First 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). 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 29
Investor sentiment improved over the past week After 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 26x 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 14
Investor sentiment deteriorated over the past week After 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 21x in the Renewable Energy industry in China. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Sep 23
Investor sentiment improved over the past week After last week's 21% share price gain to CN¥10.53, the stock trades at a trailing P/E ratio of 42.9x. Average trailing P/E is 25x in the Renewable Energy industry in China. Total returns to shareholders of 52% over the past three years. Valuation Update With 7 Day Price Move • Sep 07
Investor sentiment improved over the past week After last week's 16% 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 21% over the past three years. Reported Earnings • Aug 24
Second 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 2% per year, which means it has not declined as severely as earnings. Reported Earnings • Apr 29
First 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 30
Full 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 1% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Mar 11
New 90-day high: CN¥7.70 The company is up 9.0% from its price of CN¥7.08 on 11 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. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥6.98 The company is down 5.0% from its price of CN¥7.32 on 28 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 12
New 90-day low: CN¥7.08 The 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 30
Third quarter earnings released Over 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 22
New 90-day low: CN¥7.43 The 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.