New Risk • May 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.3% 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 Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥52m free cash flow). Earnings have declined by 6.7% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (8.3% average weekly change). Announcement • Mar 30
Dalian Thermal Power Co.,Ltd. to Report Q1, 2026 Results on Apr 24, 2026 Dalian Thermal Power Co.,Ltd. announced that they will report Q1, 2026 results on Apr 24, 2026 Reported Earnings • Mar 27
Full year 2025 earnings released: CN¥0.23 loss per share (vs CN¥0.36 loss in FY 2024) Full year 2025 results: CN¥0.23 loss per share (improved from CN¥0.36 loss in FY 2024). Revenue: CN¥604.9m (down 3.8% from FY 2024). Net loss: CN¥94.7m (loss narrowed 35% from FY 2024). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Announcement • Mar 26
Dalian Thermal Power Co.,Ltd., Annual General Meeting, Apr 16, 2026 Dalian Thermal Power Co.,Ltd., Annual General Meeting, Apr 16, 2026, at 14:00 China Standard Time. Location: 4F, No. 210, Xiangzhou Road, Shahekou District, Dalian, Liaoning China Announcement • Dec 26
Dalian Thermal Power Co.,Ltd. to Report Fiscal Year 2025 Results on Mar 27, 2026 Dalian Thermal Power Co.,Ltd. announced that they will report fiscal year 2025 results on Mar 27, 2026 Reported Earnings • Oct 25
Third quarter 2025 earnings released: CN¥0.18 loss per share (vs CN¥0.19 loss in 3Q 2024) Third quarter 2025 results: CN¥0.18 loss per share (improved from CN¥0.19 loss in 3Q 2024). Revenue: CN¥879.8k (up 63% from 3Q 2024). Net loss: CN¥71.9m (loss narrowed 4.2% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • Sep 30
Dalian Thermal Power Co.,Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Dalian Thermal Power Co.,Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Reported Earnings • Aug 19
Second quarter 2025 earnings released: CN¥0.25 loss per share (vs CN¥0.17 loss in 2Q 2024) Second quarter 2025 results: CN¥0.25 loss per share (further deteriorated from CN¥0.17 loss in 2Q 2024). Revenue: CN¥21.2m (up 22% from 2Q 2024). Net loss: CN¥100.4m (loss widened 51% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. Announcement • Jun 30
Dalian Thermal Power Co.,Ltd. to Report First Half, 2025 Results on Aug 15, 2025 Dalian Thermal Power Co.,Ltd. announced that they will report first half, 2025 results on Aug 15, 2025 Board Change • Apr 29
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 8 new directors. 4 experienced directors. No highly experienced directors. 3 independent directors (6 non-independent directors). Independent Director Ting Zhang is the most experienced director on the board, commencing their role in 2021. Independent Director Xiaohui Liu was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 27
First quarter 2025 earnings released: EPS: CN¥0.15 (vs CN¥0.062 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.15 (up from CN¥0.062 in 1Q 2024). Revenue: CN¥358.2m (down 7.7% from 1Q 2024). Net income: CN¥59.8m (up 137% from 1Q 2024). Profit margin: 17% (up from 6.5% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 19% per year whereas the company’s share price has increased by 17% per year. Announcement • Mar 28
Dalian Thermal Power Co.,Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Dalian Thermal Power Co.,Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Reported Earnings • Mar 14
Full year 2024 earnings released: CN¥0.36 loss per share (vs CN¥0.26 profit in FY 2023) Full year 2024 results: CN¥0.36 loss per share (down from CN¥0.26 profit in FY 2023). Revenue: CN¥628.5m (flat on FY 2023). Net loss: CN¥145.9m (down 238% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Announcement • Mar 14
Dalian Thermal Power Co.,Ltd., Annual General Meeting, Apr 25, 2025 Dalian Thermal Power Co.,Ltd., Annual General Meeting, Apr 25, 2025, at 14:00 China Standard Time. Location: 4F, No. 210, Xiangzhou Road, Shahekou District, Dalian, Liaoning China Announcement • Dec 27
Dalian Thermal Power Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 14, 2025 Dalian Thermal Power Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 14, 2025 Reported Earnings • Oct 27
Third quarter 2024 earnings released: CN¥0.19 loss per share (vs CN¥0.17 loss in 3Q 2023) Third quarter 2024 results: CN¥0.19 loss per share (further deteriorated from CN¥0.17 loss in 3Q 2023). Revenue: CN¥540.9k (down 60% from 3Q 2023). Net loss: CN¥75.0m (loss widened 9.7% from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 31% per year whereas the company’s share price has increased by 26% per year. Announcement • Sep 30
Dalian Thermal Power Co.,Ltd. to Report Q3, 2024 Results on Oct 25, 2024 Dalian Thermal Power Co.,Ltd. announced that they will report Q3, 2024 results on Oct 25, 2024 New Risk • Aug 23
New major risk - Revenue and earnings growth Earnings have declined by 10% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CN¥96m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 10% per year over the past 5 years. Announcement • Jun 28
Dalian Thermal Power Co.,Ltd. to Report First Half, 2024 Results on Aug 23, 2024 Dalian Thermal Power Co.,Ltd. announced that they will report first half, 2024 results on Aug 23, 2024 Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to CN¥10.22, the stock trades at a trailing P/E ratio of 22.8x. Average trailing P/E is 17x in the Integrated Utilities industry in Asia. Total returns to shareholders of 185% over the past three years. New Risk • May 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 8.6% 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 Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). High level of non-cash earnings (23% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (8.6% average weekly change). Valuation Update With 7 Day Price Move • May 24
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥9.74, the stock trades at a trailing P/E ratio of 21.8x. Average trailing P/E is 17x in the Integrated Utilities industry in Asia. Total returns to shareholders of 168% over the past three years. Reported Earnings • Apr 27
First quarter 2024 earnings released: EPS: CN¥0.062 (vs CN¥0.12 loss in 1Q 2023) First quarter 2024 results: EPS: CN¥0.062 (up from CN¥0.12 loss in 1Q 2023). Revenue: CN¥388.0m (up 3.4% from 1Q 2023). Net income: CN¥25.3m (up CN¥75.6m from 1Q 2023). Profit margin: 6.5% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Announcement • Mar 29
Dalian Thermal Power Co.,Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Dalian Thermal Power Co.,Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Feb 29
Dalian Thermal Power Co.,Ltd., Annual General Meeting, Mar 22, 2024 Dalian Thermal Power Co.,Ltd., Annual General Meeting, Mar 22, 2024, at 14:00 China Standard Time. Location: 2F, No. 32, Kunming Street, Zhongshan District, Dalian, Liaoning China Reported Earnings • Feb 29
Full year 2023 earnings released: EPS: CN¥0.26 (vs CN¥0.39 loss in FY 2022) Full year 2023 results: EPS: CN¥0.26 (up from CN¥0.39 loss in FY 2022). Revenue: CN¥632.6m (down 22% from FY 2022). Net income: CN¥105.6m (up CN¥262.1m from FY 2022). Profit margin: 17% (up from net loss in FY 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 30% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to CN¥6.28, the stock trades at a trailing P/E ratio of 66.1x. Average trailing P/E is 16x in the Integrated Utilities industry in Asia. Total returns to shareholders of 126% over the past three years. New Risk • Jan 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Chinese stocks, typically moving 6.4% 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 (currently running at an operating cash loss). Minor Risks Share price has been volatile over the past 3 months (6.4% average weekly change). Large one-off items impacting financial results. Announcement • Dec 30
Dalian Thermal Power Co.,Ltd. to Report Fiscal Year 2023 Results on Feb 29, 2024 Dalian Thermal Power Co.,Ltd. announced that they will report fiscal year 2023 results on Feb 29, 2024 Announcement • Sep 30
Dalian Thermal Power Co.,Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Dalian Thermal Power Co.,Ltd. announced that they will report Q3, 2023 results on Oct 28, 2023 Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: CN¥0.64 (vs CN¥0.084 loss in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.64 (up from CN¥0.084 loss in 2Q 2022). Revenue: CN¥26.8m (up 15% from 2Q 2022). Net income: CN¥257.3m (up CN¥290.7m from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. New Risk • Jul 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Chinese stocks, typically moving 9.5% 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 Share price has been highly volatile over the past 3 months (9.5% average weekly change). Earnings have declined by 79% per year over the past 5 years. Board Change • Jul 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buying Opportunity • Jun 20
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 8.5%. The fair value is estimated to be CN¥6.09, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 105%. Reported Earnings • Mar 18
Full year 2022 earnings released: CN¥0.39 loss per share (vs CN¥0.35 loss in FY 2021) Full year 2022 results: CN¥0.39 loss per share (further deteriorated from CN¥0.35 loss in FY 2021). Revenue: CN¥807.0m (up 22% from FY 2021). Net loss: CN¥156.5m (loss widened 9.3% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 124 percentage points per year, which is a significant difference in performance. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2022 earnings released: CN¥0.15 loss per share (vs CN¥0.12 loss in 3Q 2021) Third quarter 2022 results: CN¥0.15 loss per share (further deteriorated from CN¥0.12 loss in 3Q 2021). Revenue: CN¥1.49m (up 36% from 3Q 2021). Net loss: CN¥61.6m (loss widened 23% from 3Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 120 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 12
Second quarter 2022 earnings released: CN¥0.084 loss per share (vs CN¥0.086 loss in 2Q 2021) Second quarter 2022 results: CN¥0.084 loss per share (up from CN¥0.086 loss in 2Q 2021). Revenue: CN¥23.3m (flat on 2Q 2021). Net loss: CN¥33.4m (loss narrowed 4.7% from 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Announcement • Jun 15
Dalian Thermal Power Co.,Ltd.(SHSE:600719) dropped from Shanghai Stock Exchange Composite Index Dalian Thermal Power Co.,Ltd. has been dropped off from Shanghai Stock Exchange Composite Index Board Change • May 06
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 12 experienced directors. No highly experienced directors. 4 independent directors (5 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Oct 28
Third quarter 2021 earnings released: CN¥0.12 loss per share (vs CN¥0.10 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: CN¥1.10m (down 21% from 3Q 2020). Net loss: CN¥49.9m (loss widened 17% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 19% 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. Reported Earnings • Aug 09
Second quarter 2021 earnings released: CN¥0.086 loss per share (vs CN¥0.10 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: CN¥23.4m (up 5.2% from 2Q 2020). Net loss: CN¥35.0m (loss narrowed 15% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS CN¥0.11 (vs CN¥0.13 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥401.5m (down 1.0% from 1Q 2020). Net income: CN¥43.5m (down 18% from 1Q 2020). Profit margin: 11% (down from 13% in 1Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 20
Full year 2020 earnings released: EPS CN¥0.024 (vs CN¥0.028 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥674.2m (down 12% from FY 2019). Net income: CN¥9.66m (down 14% from FY 2019). Profit margin: 1.4% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 25
New 90-day low: CN¥3.20 The company is down 21% from its price of CN¥4.07 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 Integrated Utilities industry, which is up 1.0% over the same period. Announcement • Jan 22
Dalian Thermal Power Co.,Ltd. to Report Fiscal Year 2020 Results on Mar 20, 2021 Dalian Thermal Power Co.,Ltd. announced that they will report fiscal year 2020 results on Mar 20, 2021 Is New 90 Day High Low • Jan 08
New 90-day low: CN¥3.62 The company is down 14% from its price of CN¥4.19 on 09 October 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is up 1.0% over the same period. Is New 90 Day High Low • Dec 11
New 90-day low: CN¥3.77 The company is down 13% from its price of CN¥4.32 on 11 September 2020. The Chinese market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is up 9.0% over the same period. Is New 90 Day High Low • Oct 29
New 90-day low: CN¥4.04 The company is down 7.0% from its price of CN¥4.33 on 31 July 2020. The Chinese market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is up 5.0% over the same period. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥3.20m, down 77% from the prior year. Total revenue was CN¥696.4m over the last 12 months, down 5.6% from the prior year. Is New 90 Day High Low • Sep 27
New 90-day low: CN¥4.21 The company is down 4.0% from its price of CN¥4.39 on 29 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Integrated Utilities industry, which is flat over the same period. Announcement • Jul 06
Dalian Thermal Power Co.,Ltd. to Report First Half, 2020 Results on Aug 12, 2020 Dalian Thermal Power Co.,Ltd. announced that they will report first half, 2020 results on Aug 12, 2020