Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to CN¥3.32, the stock trades at a forward P/E ratio of 33x. Average forward P/E is 15x in the Renewable Energy industry in China. Total loss to shareholders of 3.3% over the past three years. Announcement • Jun 30
CECEP Wind-power Corporation Co.,Ltd. to Report First Half, 2026 Results on Aug 28, 2026 CECEP Wind-power Corporation Co.,Ltd. announced that they will report first half, 2026 results on Aug 28, 2026 Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to CN¥3.97, the stock trades at a forward P/E ratio of 39x. Average forward P/E is 18x in the Renewable Energy industry in China. Total returns to shareholders of 16% over the past three years. Declared Dividend • Jun 10
Dividend of CN¥0.0029 announced Shareholders will receive a dividend of CN¥0.0029. Ex-date: 12th June 2026 Payment date: 12th June 2026 Dividend yield will be 1.0%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is not adequately covered by earnings (96% earnings payout ratio). However, it is well covered by cash flows (46% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 6.5% to bring the payout ratio under control. EPS is expected to grow by 85% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥4.99, the stock trades at a forward P/E ratio of 48x. Average forward P/E is 18x in the Renewable Energy industry in China. Total returns to shareholders of 40% over the past three years. New Risk • Apr 30
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 9.9% 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 Interest payments are not well covered by earnings (2.7x net interest cover). Share price has been highly volatile over the past 3 months (9.9% average weekly change). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin). Major Estimate Revision • Apr 28
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥4.69b to CN¥4.49b. EPS estimate also fell from CN¥0.15 per share to CN¥0.10 per share. Net income forecast to shrink 3.5% next year vs 12% growth forecast for Renewable Energy industry in China . Consensus price target up from CN¥3.47 to CN¥4.38. Share price rose 13% to CN¥4.73 over the past week. New Risk • Apr 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (9.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (15% net profit margin). Reported Earnings • Apr 22
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.11 (down from CN¥0.21 in FY 2024). Revenue: CN¥4.50b (down 11% from FY 2024). Net income: CN¥685.7m (down 48% from FY 2024). Profit margin: 15% (down from 27% in FY 2024). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 5.5% p.a. on average during the next 2 years, compared to a 4.2% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Apr 22
CECEP Wind-power Corporation Co.,Ltd., Annual General Meeting, May 13, 2026 CECEP Wind-power Corporation Co.,Ltd., Annual General Meeting, May 13, 2026, at 14:00 China Standard Time. Location: No. 42, Xizhimen North Avenue, Haidian District, Beijing China New Risk • Mar 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 8.4% 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 Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (19% net profit margin). Announcement • Mar 30
CECEP Wind-power Corporation Co.,Ltd. to Report Q1, 2026 Results on Apr 30, 2026 CECEP Wind-power Corporation Co.,Ltd. announced that they will report Q1, 2026 results on Apr 30, 2026 Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to CN¥5.40, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 16x in the Renewable Energy industry in China. Total returns to shareholders of 54% over the past three years. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to CN¥4.03, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 15x in the Renewable Energy industry in China. Total returns to shareholders of 11% over the past three years. Announcement • Dec 26
CECEP Wind-power Corporation Co.,Ltd. to Report Fiscal Year 2025 Results on Apr 22, 2026 CECEP Wind-power Corporation Co.,Ltd. announced that they will report fiscal year 2025 results on Apr 22, 2026 New Risk • Oct 30
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 19% Last year net profit margin: 29% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (19% net profit margin). Announcement • Sep 30
CECEP Wind-power Corporation Co.,Ltd. to Report Q3, 2025 Results on Oct 30, 2025 CECEP Wind-power Corporation Co.,Ltd. announced that they will report Q3, 2025 results on Oct 30, 2025 New Risk • Sep 03
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. 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 expected to decline, then in most cases the share price will decline over time as well. 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 Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.8% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (274% cash payout ratio). Announcement • Jun 30
CECEP Wind-power Corporation Co.,Ltd. to Report First Half, 2025 Results on Aug 29, 2025 CECEP Wind-power Corporation Co.,Ltd. announced that they will report first half, 2025 results on Aug 29, 2025 Declared Dividend • Jun 15
Dividend reduced to CN¥0.074 Dividend of CN¥0.074 is 12% lower than last year. Ex-date: 18th June 2025 Payment date: 18th June 2025 Dividend yield will be 2.5%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but not covered by cash flows (274% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 9.5% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 02
First quarter 2025 earnings released: EPS: CN¥0.061 (vs CN¥0.067 in 1Q 2024) First quarter 2025 results: EPS: CN¥0.061 (down from CN¥0.067 in 1Q 2024). Revenue: CN¥1.31b (down 1.3% from 1Q 2024). Net income: CN¥391.8m (down 9.4% from 1Q 2024). Profit margin: 30% (down from 33% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has fallen by 11% per year and the company’s share price has also fallen by 11% per year. Price Target Changed • Apr 01
Price target decreased by 10% to CN¥3.42 Down from CN¥3.81, the current price target is provided by 1 analyst. New target price is 14% above last closing price of CN¥2.99. Stock is down 0.7% over the past year. The company is forecast to post earnings per share of CN¥0.21 for next year compared to CN¥0.21 last year. Announcement • Mar 28
CECEP Wind-power Corporation Co.,Ltd. to Report Q1, 2025 Results on Apr 29, 2025 CECEP Wind-power Corporation Co.,Ltd. announced that they will report Q1, 2025 results on Apr 29, 2025 Reported Earnings • Mar 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: CN¥0.21 (down from CN¥0.23 in FY 2023). Revenue: CN¥5.03b (down 1.7% from FY 2023). Net income: CN¥1.33b (down 12% from FY 2023). Profit margin: 27% (down from 30% in FY 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 7.7%. Earnings per share (EPS) also missed analyst estimates by 20%. Revenue is forecast to grow 9.5% 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 7% per year but the company’s share price has fallen by 14% per year, which means it is performing significantly worse than earnings. Announcement • Mar 28
CECEP Wind-power Corporation Co.,Ltd., Annual General Meeting, Apr 21, 2025 CECEP Wind-power Corporation Co.,Ltd., Annual General Meeting, Apr 21, 2025, at 14:00 China Standard Time. Location: 12F, Tower A, No. 42, Xizhimen North Avenue, Haidian District, Beijing China New Risk • Jan 12
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. This is currently the only risk that has been identified for the company. Announcement • Dec 27
CECEP Wind-power Corporation Co.,Ltd. to Report Fiscal Year 2024 Results on Mar 28, 2025 CECEP Wind-power Corporation Co.,Ltd. announced that they will report fiscal year 2024 results on Mar 28, 2025 Price Target Changed • Dec 18
Price target increased by 8.9% to CN¥3.81 Up from CN¥3.50, the current price target is provided by 1 analyst. New target price is 14% above last closing price of CN¥3.34. Stock is up 13% over the past year. The company is forecast to post earnings per share of CN¥0.25 for next year compared to CN¥0.23 last year. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.047 (vs CN¥0.048 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.047. Revenue: CN¥1.17b (up 1.1% from 3Q 2023). Net income: CN¥306.6m (flat on 3Q 2023). Profit margin: 26% (in line with 3Q 2023). Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Renewable Energy industry in China. Announcement • Sep 30
CECEP Wind-power Corporation Co.,Ltd. to Report Q3, 2024 Results on Oct 31, 2024 CECEP Wind-power Corporation Co.,Ltd. announced that they will report Q3, 2024 results on Oct 31, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to CN¥3.29, 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 50% over the past three years. Reported Earnings • Aug 30
Second quarter 2024 earnings released: EPS: CN¥0.068 (vs CN¥0.075 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.068 (down from CN¥0.075 in 2Q 2023). Revenue: CN¥1.32b (down 5.7% from 2Q 2023). Net income: CN¥441.2m (down 9.4% from 2Q 2023). Profit margin: 34% (down from 35% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 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 2% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Announcement • Jun 28
CECEP Wind-power Corporation Co.,Ltd. to Report First Half, 2024 Results on Aug 30, 2024 CECEP Wind-power Corporation Co.,Ltd. announced that they will report first half, 2024 results on Aug 30, 2024 Declared Dividend • Jun 15
Dividend of CN¥0.084 announced Shareholders will receive a dividend of CN¥0.084. Ex-date: 19th June 2024 Payment date: 19th June 2024 Dividend yield will be 2.6%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (35% earnings payout ratio) and cash flows (74% cash payout ratio). The dividend has increased by an average of 15% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 31% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • May 16
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Director Baoshan Li is the most experienced director on the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 30
First quarter 2024 earnings released: EPS: CN¥0.067 (vs CN¥0.062 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.067 (up from CN¥0.062 in 1Q 2023). Revenue: CN¥1.33b (up 4.2% from 1Q 2023). Net income: CN¥432.4m (up 7.7% from 1Q 2023). Profit margin: 33% (up from 32% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. New Risk • Mar 30
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Mar 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.23 (down from CN¥0.32 in FY 2022). Revenue: CN¥5.12b (down 2.4% from FY 2022). Net income: CN¥1.51b (down 7.3% from FY 2022). Profit margin: 30% (down from 31% in FY 2022). Revenue missed analyst estimates by 5.4%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 7.0% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to CN¥3.06, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Renewable Energy industry in China. Total returns to shareholders of 12% over the past three years. Announcement • Dec 29
CECEP Wind-power Corporation Co.,Ltd. to Report Fiscal Year 2023 Results on Mar 29, 2024 CECEP Wind-power Corporation Co.,Ltd. announced that they will report fiscal year 2023 results on Mar 29, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.048 (vs CN¥0.06 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.048. Revenue: CN¥1.16b (down 1.8% from 3Q 2022). Net income: CN¥306.5m (up 1.5% from 3Q 2022). Profit margin: 27% (in line with 3Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Renewable Energy industry in China. Announcement • Sep 30
CECEP Wind-power Corporation Co.,Ltd. to Report Q3, 2023 Results on Oct 31, 2023 CECEP Wind-power Corporation Co.,Ltd. announced that they will report Q3, 2023 results on Oct 31, 2023 Reported Earnings • Aug 30
Second quarter 2023 earnings released: EPS: CN¥0.075 (vs CN¥0.12 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.075 (down from CN¥0.12 in 2Q 2022). Revenue: CN¥1.40b (down 6.1% from 2Q 2022). Net income: CN¥486.9m (down 17% from 2Q 2022). Profit margin: 35% (down from 39% in 2Q 2022). Revenue is forecast to grow 11% 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 increased by 24% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
CECEP Wind-power Corporation Co.,Ltd. to Report First Half, 2023 Results on Aug 30, 2023 CECEP Wind-power Corporation Co.,Ltd. announced that they will report first half, 2023 results on Aug 30, 2023 Reported Earnings • Apr 01
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: CN¥0.32 (up from CN¥0.15 in FY 2021). Revenue: CN¥5.24b (up 48% from FY 2021). Net income: CN¥1.75b (up 127% from FY 2021). Profit margin: 33% (up from 22% in FY 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 19%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 21% per year. Board Change • Nov 16
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. 7 experienced directors. No highly experienced directors. 2 independent directors (3 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. Price Target Changed • Nov 02
Price target decreased to CN¥5.76 Down from CN¥6.40, the current price target is provided by 1 analyst. New target price is 29% above last closing price of CN¥4.46. Stock is down 34% over the past year. The company is forecast to post earnings per share of CN¥0.36 for next year compared to CN¥0.15 last year. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: CN¥0.06 (vs CN¥0.031 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.06 (up from CN¥0.031 in 3Q 2021). Revenue: CN¥1.18b (up 48% from 3Q 2021). Net income: CN¥302.1m (up 95% from 3Q 2021). Profit margin: 26% (up from 19% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Aug 31
Second quarter 2022 earnings released: EPS: CN¥0.12 (vs CN¥0.057 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.12 (up from CN¥0.057 in 2Q 2021). Revenue: CN¥1.49b (up 64% from 2Q 2021). Net income: CN¥585.1m (up 103% from 2Q 2021). Profit margin: 39% (up from 32% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 35%, compared to a 14% growth forecast for the Renewable Energy industry in China. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥5.60, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Renewable Energy industry in China. Total returns to shareholders of 142% over the past three years. Announcement • May 16
CECEP Wind-power Corporation Co.,Ltd. (SHSE:601016) agreed to acquire Julu County Tenghuang New Energy Technology Co., Ltd. from Tian Liling and Hao Yanbo for approximately CNY 495 million. CECEP Wind-power Corporation Co.,Ltd. (SHSE:601016) agreed to acquire Julu County Tenghuang New Energy Technology Co., Ltd. from Tian Liling and Hao Yanbo for approximately CNY 495 million on May 14, 2022. Based on the results, after negotiation by both parties, the 100% equity of Julu County Tenghuang New Energy Technology is priced at CNY 5.7. The amount of the debt to be undertaken shall not exceed CNY 494,789,900. In June 30, 2021, Julu County Tenghuang New Energy Technology reported total assets of CNY 481,339,482.14 and Owner’s equity of CNY 10,258,680.77. Reported Earnings • Apr 30
First quarter 2022 earnings: EPS misses analyst expectations First quarter 2022 results: EPS: CN¥0.084 (up from CN¥0.06 in 1Q 2021). Revenue: CN¥1.19b (up 35% from 1Q 2021). Net income: CN¥422.0m (up 41% from 1Q 2021). Profit margin: 36% (up from 34% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Over the next year, revenue is forecast to grow 28%, compared to a 10% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year whereas the company’s share price has increased by 12% per year. Price Target Changed • Apr 27
Price target increased to CN¥6.89 Up from CN¥6.00, the current price target is an average from 3 analysts. New target price is 75% above last closing price of CN¥3.94. Stock is up 2.3% over the past year. The company is forecast to post earnings per share of CN¥0.29 for next year compared to CN¥0.15 last year. Board Change • Apr 27
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. 6 experienced directors. No highly experienced directors. 2 independent directors (3 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 • Mar 11
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: CN¥0.15 (up from CN¥0.14 in FY 2020). Revenue: CN¥3.54b (up 33% from FY 2020). Net income: CN¥767.5m (up 24% from FY 2020). Profit margin: 22% (down from 23% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Over the next year, revenue is forecast to grow 28%, compared to a 12% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.031 (vs CN¥0.037 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: CN¥795.9m (up 22% from 3Q 2020). Net income: CN¥154.6m (down 6.1% from 3Q 2020). Profit margin: 19% (down from 25% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥7.46, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 18x in the Renewable Energy industry in China. Total returns to shareholders of 219% over the past three years. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 20% share price gain to CN¥7.89, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 19x in the Renewable Energy industry in China. Total returns to shareholders of 226% over the past three years. Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improved over the past week After last week's 26% share price gain to CN¥6.42, the stock trades at a forward P/E ratio of 26x. Average forward P/E is 17x in the Renewable Energy industry in China. Total returns to shareholders of 147% over the past three years. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥5.22, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 17x in the Renewable Energy industry in China. Total returns to shareholders of 105% over the past three years. Reported Earnings • Aug 27
Second quarter 2021 earnings released: EPS CN¥0.057 (vs CN¥0.056 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: CN¥910.2m (up 24% from 2Q 2020). Net income: CN¥287.9m (up 23% from 2Q 2020). Profit margin: 32% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 04
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥4.42, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Renewable Energy industry in China. Total returns to shareholders of 56% over the past three years. Reported Earnings • Jul 14
Second quarter 2021 earnings released: EPS CN¥0.057 (vs CN¥0.056 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: CN¥910.2m (up 24% from 2Q 2020). Net income: CN¥287.9m (up 23% from 2Q 2020). Profit margin: 32% (in line with 2Q 2020). Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 11% per year. Reported Earnings • May 04
First quarter 2021 earnings released: EPS CN¥0.06 (vs CN¥0.033 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥885.0m (up 43% from 1Q 2020). Net income: CN¥298.8m (up 119% from 1Q 2020). Profit margin: 34% (up from 22% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥4.30, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 19x in the Renewable Energy industry in China. Total returns to shareholders of 48% over the past three years. Is New 90 Day High Low • Mar 16
New 90-day high: CN¥4.24 The company is up 54% from a price of CN¥2.76 on 16 December 2020. Outperformed the Chinese market which is down 2.0% over the last 90 days. Exceeded the Renewable Energy industry, which is up 13% over the same period. Valuation Update With 7 Day Price Move • Mar 16
Investor sentiment improved over the past week After last week's 18% share price gain to CN¥4.24, the stock trades at a trailing P/E ratio of 30.5x, up from the previous P/E ratio of 25.9x. Average P/E is 19x in the Renewable Energy industry in China. Total returns to shareholders over the past three years are 40%. Reported Earnings • Mar 10
Full year 2020 earnings released: EPS CN¥0.14 (vs CN¥0.14 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: CN¥2.67b (up 7.2% from FY 2019). Net income: CN¥617.9m (up 5.8% from FY 2019). Profit margin: 23% (in line with FY 2019). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 23
Investor sentiment improved over the past week After last week's 15% share price gain to CN¥3.73, the stock is trading at a trailing P/E ratio of 26.8x, up from the previous P/E ratio of 23.2x. This compares to an average P/E of 16x in the Renewable Energy industry in China. Total returns to shareholders over the past three years are 25%. Valuation Update With 7 Day Price Move • Feb 08
Investor sentiment deteriorated over the past week After last week's 19% share price decline to CN¥3.13, the stock is trading at a trailing P/E ratio of 22.5x, down from the previous P/E ratio of 27.9x. This compares to an average P/E of 15x in the Renewable Energy industry in China. Total returns to shareholders over the past three years are 6.3%. Valuation Update With 7 Day Price Move • Jan 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥3.45, the stock is trading at a trailing P/E ratio of 20.9x, down from the previous P/E ratio of 24.8x. This compares to an average P/E of 17x in the Renewable Energy industry in China. Total returns to shareholders over the past three years are 6.2%. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 25% share price gain to CN¥4.04, the stock is trading at a trailing P/E ratio of 24.5x, up from the previous P/E ratio of 19.6x. This compares to an average P/E of 17x in the Renewable Energy industry in China. Total returns to shareholders over the past three years are 28%. Valuation Update With 7 Day Price Move • Dec 25
Investor sentiment improved over the past week After last week's 22% share price gain to CN¥3.41, the stock is trading at a trailing P/E ratio of 20.6x, up from the previous P/E ratio of 17x. This compares to an average P/E of 17x in the Renewable Energy industry in China. Total returns to shareholders over the past three years are 9.4%. Is New 90 Day High Low • Dec 25
New 90-day high: CN¥3.41 The company is up 26% from its price of CN¥2.70 on 25 September 2020. The Chinese market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Renewable Energy industry, which is up 3.0% over the same period. Reported Earnings • Nov 01
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥695.4m, up 46% from the prior year. Total revenue was CN¥2.70b over the last 12 months, up 14% from the prior year. Announcement • Oct 29
CECEP Wind-power Corporation Co.,Ltd. to Report Q3, 2020 Results on Oct 31, 2020 CECEP Wind-power Corporation Co.,Ltd. announced that they will report Q3, 2020 results on Oct 31, 2020 Announcement • Sep 05
CECEP Wind-power Corporation Co.,Ltd. announced that it has received CNY 2.06946888 billion in funding from a group of investors On September 4, 2020, closed the transaction. The company issued shares at a price of CNY 2.49 per share for gross proceeds of CNY 2,069.468,880. The transaction included participation from returning investor China Energy Conservation and Environmental Protection Group for 506,230,319 shares for gross proceeds of 1,260,513,494.31, Generali China Asset Management Co., Ltd. for 80,321,285 shares for gross proceeds of CNY 199,999,999.65, individual investor Zhang Songming for 55,020,080 shares for gross proceeds CNY 136,999,999.20 and other investors. The company paid issuance cost of CNY 13,621,626.84 in the transaction. Announcement • Jul 09
CECEP Wind-power Corporation Co.,Ltd. to Report First Half, 2020 Results on Aug 26, 2020 CECEP Wind-power Corporation Co.,Ltd. announced that they will report first half, 2020 results on Aug 26, 2020 
