Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to CN¥7.78, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Renewable Energy industry in China. Total returns to shareholders of 136% over the past three years. Announcement • Jun 01
Beijing Jingneng Power Co., Ltd., Annual General Meeting, Jun 23, 2026 Beijing Jingneng Power Co., Ltd., Annual General Meeting, Jun 23, 2026, at 09:00 China Standard Time. Location: The Company's Meeting Room, Shijingshan District, Beijing China Board Change • May 20
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 6 non-independent directors. Independent Director Zhiqiang Wang was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Mar 30
Beijing Jingneng Power Co., Ltd. to Report Q1, 2026 Results on Apr 25, 2026 Beijing Jingneng Power Co., Ltd. announced that they will report Q1, 2026 results on Apr 25, 2026 Announcement • Dec 26
Beijing Jingneng Power Co., Ltd. to Report Fiscal Year 2025 Results on Apr 25, 2026 Beijing Jingneng Power Co., Ltd. announced that they will report fiscal year 2025 results on Apr 25, 2026 Announcement • Sep 30
Beijing Jingneng Power Co., Ltd. to Report Q3, 2025 Results on Oct 25, 2025 Beijing Jingneng Power Co., Ltd. announced that they will report Q3, 2025 results on Oct 25, 2025 Announcement • Jun 30
Beijing Jingneng Power Co., Ltd. to Report First Half, 2025 Results on Aug 23, 2025 Beijing Jingneng Power Co., Ltd. announced that they will report first half, 2025 results on Aug 23, 2025 Announcement • May 29
Beijing Jingneng Power Co., Ltd., Annual General Meeting, Jun 20, 2025 Beijing Jingneng Power Co., Ltd., Annual General Meeting, Jun 20, 2025, at 10:00 China Standard Time. Location: The Company's Meeting Room, Shijingshan District, Beijing China Announcement • Mar 28
Beijing Jingneng Power Co., Ltd. to Report Q1, 2025 Results on Apr 26, 2025 Beijing Jingneng Power Co., Ltd. announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Feb 21
Beijing Jingneng Power Co., Ltd. (SHSE:600578) proposed to acquire 39% stake in Inner Mongolia Jingneng Daihai New Energy Co., Ltd. from Ulanqab Energy Investment Development Co., Ltd. for approximately CNY 950 million. Beijing Jingneng Power Co., Ltd. (SHSE:600578) proposed to acquire 39% stake in Inner Mongolia Jingneng Daihai New Energy Co., Ltd. from Ulanqab Energy Investment Development Co., Ltd. for approximately CNY 950 million on January 7, 2025. A cash consideration of CNY 949.34 million will be paid by Beijing Jingneng Power Co., Ltd. As part of consideration, CNY 949.34 million is paid towards common equity of Inner Mongolia Jingneng Daihai New Energy Co., Ltd. Upon completion, Beijing Jingneng Power Co., Ltd. will own 90% stake in Inner Mongolia Jingneng Daihai New Energy Co., Ltd.
As of May 31, 2024, Inner Mongolia Jingneng Daihai New Energy Co., Ltd. reported total assets of CNY 3.94 billion and total common equity of CNY 1.07 billion.
The transaction is subject to approval of offer by acquirer board. The deal has been approved by the board. Announcement • Dec 27
Beijing Jingneng Power Co., Ltd. to Report Fiscal Year 2024 Results on Apr 26, 2025 Beijing Jingneng Power Co., Ltd. announced that they will report fiscal year 2024 results on Apr 26, 2025 Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: CN¥0.07 (vs CN¥0.071 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.07. Revenue: CN¥8.73b (up 1.1% from 3Q 2023). Net income: CN¥502.0m (up 9.0% from 3Q 2023). Profit margin: 5.7% (up from 5.3% in 3Q 2023). Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Renewable Energy industry in China. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to CN¥3.69, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 12x in the Renewable Energy industry in China. Total returns to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥5.47 per share. Announcement • Sep 30
Beijing Jingneng Power Co., Ltd. to Report Q3, 2024 Results on Oct 26, 2024 Beijing Jingneng Power Co., Ltd. announced that they will report Q3, 2024 results on Oct 26, 2024 Reported Earnings • Aug 27
Second quarter 2024 earnings released: EPS: CN¥0.06 (vs CN¥0.003 loss in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.06 (up from CN¥0.003 loss in 2Q 2023). Revenue: CN¥7.16b (up 11% from 2Q 2023). Net income: CN¥444.7m (up CN¥483.9m from 2Q 2023). Profit margin: 6.2% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue. Revenue is forecast to grow 1.5% 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 89% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Beijing Jingneng Power Co., Ltd. to Report First Half, 2024 Results on Aug 27, 2024 Beijing Jingneng Power Co., Ltd. announced that they will report first half, 2024 results on Aug 27, 2024 Announcement • Jun 02
Beijing Jingneng Power Co., Ltd., Annual General Meeting, Jun 21, 2024 Beijing Jingneng Power Co., Ltd., Annual General Meeting, Jun 21, 2024, at 09:00 China Standard Time. New Risk • May 22
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 Risks Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 92% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. New Risk • Apr 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 28% 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 Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 107% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. Announcement • Mar 29
Beijing Jingneng Power Co., Ltd. to Report Q1, 2024 Results on Apr 27, 2024 Beijing Jingneng Power Co., Ltd. announced that they will report Q1, 2024 results on Apr 27, 2024 Announcement • Dec 29
Beijing Jingneng Power Co., Ltd. to Report Fiscal Year 2023 Results on Apr 27, 2024 Beijing Jingneng Power Co., Ltd. announced that they will report fiscal year 2023 results on Apr 27, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.071 (vs CN¥0.04 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.071 (up from CN¥0.04 in 3Q 2022). Revenue: CN¥8.64b (up 7.8% from 3Q 2022). Net income: CN¥460.4m (up 76% from 3Q 2022). Profit margin: 5.3% (up from 3.3% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.3% 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 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Sep 30
Beijing Jingneng Power Co., Ltd. to Report Q3, 2023 Results on Oct 28, 2023 Beijing Jingneng Power Co., Ltd. announced that they will report Q3, 2023 results at 3:00 PM, China Standard Time on Oct 28, 2023 New Risk • Aug 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% 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 Risks Debt is not well covered by operating cash flow (7.9% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 139% Paying a dividend despite having no free cash flows. Minor Risk Large one-off items impacting financial results. Reported Earnings • Aug 18
Second quarter 2023 earnings released: CN¥0.003 loss per share (vs CN¥0.03 profit in 2Q 2022) Second quarter 2023 results: CN¥0.003 loss per share (down from CN¥0.03 profit in 2Q 2022). Revenue: CN¥6.43b (up 3.1% from 2Q 2022). Net loss: CN¥39.2m (down 118% from profit in 2Q 2022). Revenue is forecast to grow 7.3% 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 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. Announcement • Jun 28
Beijing Jingneng Power Co., Ltd. to Report First Half, 2023 Results on Aug 18, 2023 Beijing Jingneng Power Co., Ltd. announced that they will report first half, 2023 results on Aug 18, 2023 Reported Earnings • Apr 28
First quarter 2023 earnings released: EPS: CN¥0.06 (vs CN¥0.04 in 1Q 2022) First quarter 2023 results: EPS: CN¥0.06 (up from CN¥0.04 in 1Q 2022). Revenue: CN¥8.58b (up 9.5% from 1Q 2022). Net income: CN¥407.6m (up 39% from 1Q 2022). Profit margin: 4.8% (up from 3.7% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Hong Yue 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. Reported Earnings • Oct 29
Third quarter 2022 earnings released: EPS: CN¥0.04 (vs CN¥0.18 loss in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.04 (up from CN¥0.18 loss in 3Q 2021). Revenue: CN¥8.02b (up 52% from 3Q 2021). Net income: CN¥262.1m (up CN¥1.57b from 3Q 2021). Profit margin: 3.3% (up from net loss in 3Q 2021). Revenue is forecast to grow 7.1% 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, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Aug 29
Second quarter 2022 earnings released: EPS: CN¥0.03 (vs CN¥0.069 loss in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.03 (up from CN¥0.069 loss in 2Q 2021). Revenue: CN¥6.24b (up 41% from 2Q 2021). Net income: CN¥222.0m (up CN¥588.7m from 2Q 2021). Profit margin: 3.6% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 6.7%, compared to a 14% 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 104 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. 3 independent directors (5 non-independent directors). Independent Director Jie Zhao 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. Insufficient board refreshment. Reported Earnings • Oct 26
Third quarter 2021 earnings released: CN¥0.18 loss per share (vs CN¥0.07 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings and control over costs, although revenues were flat. Third quarter 2021 results: Revenue: CN¥5.26b (flat on 3Q 2020). Net loss: CN¥1.31b (down 396% from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 35% 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. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment deteriorated over the past week After last week's 16% share price decline to CN¥2.84, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 17x in the Renewable Energy industry in China. Total returns to shareholders of 4.1% over the past three years. Valuation Update With 7 Day Price Move • Sep 13
Investor sentiment improved over the past week After last week's 19% share price gain to CN¥3.26, the stock trades at a forward P/E ratio of 37x. Average forward P/E is 18x in the Renewable Energy industry in China. Total returns to shareholders of 16% over the past three years. Reported Earnings • Aug 23
Second quarter 2021 earnings released: CN¥0.069 loss per share (vs CN¥0.051 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: CN¥4.43b (up 8.1% from 2Q 2020). Net loss: CN¥366.7m (down 200% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 5% per year. Reported Earnings • Apr 29
First quarter 2021 earnings released: EPS CN¥0.01 (vs CN¥0.07 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: CN¥5.60b (up 12% from 1Q 2020). Net income: CN¥66.5m (down 86% from 1Q 2020). Profit margin: 1.2% (down from 9.4% in 1Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 30
Investor sentiment improved over the past week After last week's 16% share price gain to CN¥3.61, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Renewable Energy industry in China. Total returns to shareholders of 14% over the past three years. Is New 90 Day High Low • Feb 04
New 90-day low: CN¥2.84 The company is down 5.0% from its price of CN¥3.00 on 06 November 2020. The Chinese market is up 5.0% 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. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥0.92 per share. Is New 90 Day High Low • Dec 28
New 90-day high: CN¥3.15 The company is up 4.0% from its price of CN¥3.03 on 30 September 2020. The Chinese market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Renewable Energy industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥0.92 per share. Reported Earnings • Oct 29
Third quarter earnings released Over the last 12 months the company has reported total profits of CN¥1.53b, up 8.9% from the prior year. Total revenue was CN¥19.4b over the last 12 months, up 9.4% from the prior year. 
