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CGN Power

SEHK:1816
Snowflake Description

Fair value second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1816
SEHK
HK$100B
Market Cap
  1. Home
  2. HK
  3. Utilities
Company description

CGN Power Co., Ltd. generates and sells nuclear power in the People’s Republic of China. The last earnings update was 77 days ago. More info.


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1816 Share Price and Events
7 Day Returns
-1.4%
SEHK:1816
-2.1%
HK Renewable Energy
-1.1%
HK Market
1 Year Returns
7.9%
SEHK:1816
-15.2%
HK Renewable Energy
-6.5%
HK Market
1816 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CGN Power (1816) -1.4% -2.2% -0.9% 7.9% -2.2% -
HK Renewable Energy -2.1% -1.6% -6.3% -15.2% -11.4% -48.8%
HK Market -1.1% 3.4% -7.7% -6.5% 17.4% 4.2%
1 Year Return vs Industry and Market
  • 1816 outperformed the Renewable Energy industry which returned -15.2% over the past year.
  • 1816 outperformed the Market in Hong Kong which returned -6.5% over the past year.
Price Volatility
1816
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for CGN Power's competitors could be found in our database.

1816 Value

 Is CGN Power undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of CGN Power to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for CGN Power.

SEHK:1816 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:1816
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Renewable Energy Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.47 (1 + (1- 25%) (232.65%))
1.195
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.195 * 5.96%)
9.13%

Discounted Cash Flow Calculation for SEHK:1816 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CGN Power is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:1816 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 9.13%)
2020 14,349.30 Analyst x8 13,149.20
2021 16,388.80 Analyst x5 13,762.09
2022 20,293.00 Analyst x1 15,615.36
2023 24,899.00 Analyst x1 17,557.24
2024 28,315.20 Est @ 13.72% 18,296.27
2025 31,204.79 Est @ 10.21% 18,477.05
2026 33,621.43 Est @ 7.74% 18,243.00
2027 35,646.12 Est @ 6.02% 17,723.96
2028 37,362.94 Est @ 4.82% 17,023.87
2029 38,847.12 Est @ 3.97% 16,219.76
Present value of next 10 years cash flows CN¥166,067.79
SEHK:1816 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= CN¥38,847.12 × (1 + 2%) ÷ (9.13% – 2%)
CN¥556,237.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥556,237.02 ÷ (1 + 9.13%)10
CN¥232,244.58
SEHK:1816 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥166,067.79 + CN¥232,244.58
CN¥398,312.37
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥398,312.37 / 45,448.75
CN¥8.76
SEHK:1816 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1816)
1.137
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥8.76 x 1.137
HK$9.97
Value per share (HKD) From above. HK$9.97
Current discount Discount to share price of HK$2.18
= -1 x (HK$2.18 - HK$9.97) / HK$9.97
78.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price CGN Power is available for.
Intrinsic value
>50%
Share price is HK$2.18 vs Future cash flow value of HK$9.97
Current Discount Checks
For CGN Power to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CGN Power's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CGN Power's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for CGN Power's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CGN Power's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1816 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in CNY CN¥0.19
SEHK:1816 Share Price ** SEHK (2019-07-15) in HKD HK$2.18
SEHK:1816 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥1.92
Hong Kong Renewable Energy Industry PE Ratio Median Figure of 24 Publicly-Listed Renewable Energy Companies 9.51x
Hong Kong Market PE Ratio Median Figure of 1,503 Publicly-Listed Companies 10.71x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of CGN Power.

SEHK:1816 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1816 Share Price ÷ EPS (both in CNY)

= 1.92 ÷ 0.19

10.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CGN Power is overvalued based on earnings compared to the HK Renewable Energy industry average.
  • CGN Power is good value based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does CGN Power's expected growth come at a high price?
Raw Data
SEHK:1816 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
7.7%per year
Hong Kong Renewable Energy Industry PEG Ratio Median Figure of 17 Publicly-Listed Renewable Energy Companies 0.73x
Hong Kong Market PEG Ratio Median Figure of 477 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

SEHK:1816 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.01x ÷ 7.7%

1.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CGN Power is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on CGN Power's assets?
Raw Data
SEHK:1816 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in CNY CN¥1.62
SEHK:1816 Share Price * SEHK (2019-07-15) in HKD HK$2.18
SEHK:1816 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.879 CN¥1.92
Hong Kong Renewable Energy Industry PB Ratio Median Figure of 27 Publicly-Listed Renewable Energy Companies 0.66x
Hong Kong Market PB Ratio Median Figure of 2,190 Publicly-Listed Companies 0.92x
SEHK:1816 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1816 Share Price ÷ Book Value per Share (both in CNY)

= 1.92 ÷ 1.62

1.18x

* Primary Listing of CGN Power.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • CGN Power is overvalued based on assets compared to the HK Renewable Energy industry average.
X
Value checks
We assess CGN Power's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Renewable Energy industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Renewable Energy industry average (and greater than 0)? (1 check)
  5. CGN Power has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

1816 Future Performance

 How is CGN Power expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CGN Power expected to grow at an attractive rate?
  • CGN Power's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • CGN Power's earnings growth is positive but not above the Hong Kong market average.
  • CGN Power's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1816 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1816 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 7.7%
SEHK:1816 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 3.1%
Hong Kong Renewable Energy Industry Earnings Growth Rate Market Cap Weighted Average 17.8%
Hong Kong Renewable Energy Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 11.2%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:1816 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1816 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 57,917 1
2022-12-31 56,008 1
2021-12-31 61,768 32,846 10,767 10
2020-12-31 60,473 30,935 10,352 15
2019-12-31 55,734 29,086 9,335 12
SEHK:1816 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2019-03-31 52,784 8,736
2018-12-31 50,828 8,703
2018-09-30 48,528 28,958 8,145
2018-06-30 46,587 28,088 7,786
2018-03-31 45,342 26,551 8,940
2017-12-31 44,989 26,797 9,500
2017-09-30 42,306 24,751 10,593
2017-06-30 38,709 20,991 9,652
2017-03-31 35,581 18,872 8,470
2016-12-31 32,453 16,753 7,287
2016-09-30 32,124 14,828 7,281
2016-06-30 31,796 12,903 7,276

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CGN Power's earnings are expected to grow by 7.7% yearly, however this is not considered high growth (20% yearly).
  • CGN Power's revenue is expected to grow by 3.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:1816 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from CGN Power Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1816 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.24 0.28 0.20 10.00
2020-12-31 0.23 0.27 0.20 15.00
2019-12-31 0.21 0.22 0.19 13.00
SEHK:1816 Past Financials Data
Date (Data in CNY Millions) EPS *
2019-03-31 0.19
2018-12-31 0.19
2018-09-30 0.18
2018-06-30 0.17
2018-03-31 0.20
2017-12-31 0.21
2017-09-30 0.23
2017-06-30 0.21
2017-03-31 0.19
2016-12-31 0.16
2016-09-30 0.16
2016-06-30 0.16

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • CGN Power is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess CGN Power's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
CGN Power has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

1816 Past Performance

  How has CGN Power performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare CGN Power's growth in the last year to its industry (Renewable Energy).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • CGN Power's year on year earnings growth rate has been positive over the past 5 years.
  • CGN Power's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • CGN Power's 1-year earnings growth is negative, it can't be compared to the HK Renewable Energy industry average.
Earnings and Revenue History
CGN Power's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from CGN Power Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1816 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 52,783.70 8,735.88 2,483.42 1,045.46
2018-12-31 50,827.92 8,702.63 2,359.94 1,019.83
2018-09-30 48,528.45 8,145.45 2,611.65 -59.98
2018-06-30 46,587.38 7,786.03 2,421.62
2018-03-31 45,342.43 8,940.10 2,326.80 76.88
2017-12-31 44,988.91 9,500.32 2,423.13
2017-09-30 42,305.72 10,592.75 2,117.69 200.42
2017-06-30 38,709.07 9,652.19 2,427.98
2017-03-31 35,581.16 8,469.56 2,393.12
2016-12-31 32,453.24 7,286.93 2,358.26
2016-09-30 32,124.39 7,281.49 2,448.48
2016-06-30 31,795.54 7,276.04 2,538.70
2016-03-31 29,065.85 7,152.71 2,376.04
2015-12-31 26,336.17 7,029.38 2,213.39
2015-06-30 20,207.92 7,115.30 1,540.46
2015-03-31 20,311.22 6,654.03 1,531.88
2014-12-31 20,414.52 6,192.76 1,523.31
2014-09-30 19,161.46 4,457.93 1,144.62
2014-06-30 18,665.86 4,097.79 1,193.07
2014-03-31 17,887.75 4,146.17 1,112.17
2013-12-31 17,109.63 4,194.55 1,031.26
2012-12-31 17,324.93 4,144.65 921.04

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • CGN Power has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CGN Power used its assets less efficiently than the HK Renewable Energy industry average last year based on Return on Assets.
  • CGN Power has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CGN Power's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Renewable Energy industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
CGN Power has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

1816 Health

 How is CGN Power's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up CGN Power's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CGN Power's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • CGN Power's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of CGN Power's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from CGN Power Company Filings, last reported 3 months ago.

SEHK:1816 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 115,543.31 203,758.48 14,960.25
2018-12-31 113,125.65 222,716.76 15,207.94
2018-09-30 112,286.41 210,831.73 15,915.19
2018-06-30 108,570.38 222,350.71 16,559.76
2018-03-31
2017-12-31 102,533.14 221,565.75 12,338.72
2017-09-30
2017-06-30 93,264.30 217,012.33 10,155.85
2017-03-31 93,264.30 217,012.33 10,155.85
2016-12-31 81,898.67 170,594.82 10,503.53
2016-09-30 81,898.67 170,594.82 10,503.53
2016-06-30 82,014.87 126,623.09 10,286.21
2016-03-31 82,014.87 126,623.09 10,286.21
2015-12-31 85,319.63 159,522.85 14,283.98
2015-06-30 73,988.91 125,475.33 11,552.61
2015-03-31 73,988.91 125,475.33 11,552.61
2014-12-31 79,074.83 124,369.40 29,043.45
2014-09-30 41,050.29 73,604.91 6,930.41
2014-06-30 38,711.76 80,836.56 8,214.29
2014-03-31 38,711.76 80,836.56 8,214.29
2013-12-31 31,691.83 79,348.98 9,392.76
2012-12-31 24,149.66 78,921.33 7,719.85
  • CGN Power's level of debt (176.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (208.8% vs 176.3% today).
  • Debt is not well covered by operating cash flow (14.2%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.3x coverage).
X
Financial health checks
We assess CGN Power's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. CGN Power has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

1816 Dividends

 What is CGN Power's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.76%
Current annual income from CGN Power dividends. Estimated to be 4.31% next year.
If you bought HK$2,000 of CGN Power shares you are expected to receive HK$75 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • CGN Power's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • CGN Power's dividend is below the markets top 25% of dividend payers in Hong Kong (5.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:1816 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
Hong Kong Renewable Energy Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 3.4%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 978 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:1816 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.08 1.00
2022-12-31 0.07 1.00
2021-12-31 0.09 10.00
2020-12-31 0.08 15.00
2019-12-31 0.08 15.00
SEHK:1816 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-03-12 0.072 3.838
2018-05-30 0.068 4.006
2017-04-06 0.051 2.786
2017-03-15 0.051 2.361
2016-05-27 0.042 2.128
2015-04-09 0.003 0.099
2015-03-19 0.003 0.092

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, CGN Power has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but CGN Power only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of CGN Power's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess CGN Power's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can CGN Power afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CGN Power has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

1816 Management

 What is the CEO of CGN Power's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ligang Gao
COMPENSATION CN¥980,223
AGE 54
TENURE AS CEO 5.3 years
CEO Bio

Mr. Ligang Gao has been the President and Executive Director at CGN Power Co., Ltd. since March 2014. Mr. Gao served as Senior Vice President at China General Nuclear Power Corporation from April 2011 to March 2014. He was accredited as a professorship-level senior engineer by CGNPC in December 2001. He has more than 26 years of experience in the nuclear power industry. He joined GNPJVC in March 1988 and worked successively as the deputy branch manager and branch manager of the technical support branch of the operations department, deputy manager of the maintenance department and manager of the technical department (mainly responsible for the management of production technologies) at GNPJVC from September 1996 to March 2003. He also worked successively as deputy general manager and general manager at DNMC from March 2003 to January 2008 and as the Chairman of the board of directors and general manager at Yangjiang Nuclear from December 2007 to October 2013. Mr. Gao also served as General Manager at Guangdong Taishan Nuclear Co., Ltd. (now known as Taishan Nuclear) from December 2007 to October 2011. He has been the Chairman of the board of directors of Taishan Nuclear since December 2007. Mr. Gao obtained a bachelor of engineering degree in power system and automation from Huazhong University of Science and Technology (formerly known as Huazhong Institute of Technology) in July 1985 and a master of engineering degree in power system and automation from North China Institute of Electric Power in January 1988.

CEO Compensation
  • Ligang 's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Ligang 's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the CGN Power management team in years:

1.2
Average Tenure
54
Average Age
  • The average tenure for the CGN Power management team is less than 2 years, this suggests a new team.
Management Team

Ligang Gao

TITLE
President & Executive Director
COMPENSATION
CN¥980K
AGE
54
TENURE
5.3 yrs

Engang Yin

TITLE
Chief Financial Officer
COMPENSATION
CN¥1M
AGE
51
TENURE
1.8 yrs

Dajin Jiang

TITLE
VP, Board Secretary & Joint Company Secretary
COMPENSATION
CN¥1M
AGE
57
TENURE
0.7 yrs

Kenneth Lee

TITLE
Joint Company Secretary
TENURE
0.6 yrs
Board of Directors Tenure

Average tenure and age of the CGN Power board of directors in years:

5.3
Average Tenure
54.5
Average Age
  • The tenure for the CGN Power board of directors is about average.
Board of Directors

Shanming Zhang

TITLE
Chairman
AGE
55
TENURE
5.3 yrs

Ligang Gao

TITLE
President & Executive Director
COMPENSATION
CN¥980K
AGE
54
TENURE
5.3 yrs

Xizhi Na

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥500K
AGE
66
TENURE
5.3 yrs

Yiguang Hu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥450K
AGE
48
TENURE
5.3 yrs

Francis Siu

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥650K
AGE
65
TENURE
5.3 yrs

Sui Chen

TITLE
Chairman of Supervisory Committee
AGE
55
TENURE
2.2 yrs

Bing Shi

TITLE
Non-Executive Director
AGE
52
TENURE
5.3 yrs

Jiansheng Tan

TITLE
Non-Executive Director
AGE
60
TENURE
2.2 yrs

Huiling Zhong

TITLE
Non-Executive Director
AGE
46
TENURE
2.2 yrs

Yong Zhang

TITLE
Non-Executive Director
AGE
51
TENURE
2.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
31. May 19 Buy BlackRock, Inc. Company 28. May 19 28. May 19 86,143,000 HK$2.13 HK$183,561,792
02. Apr 19 Sell Citigroup Inc.,Banking and Securities Investments Company 28. Mar 19 28. Mar 19 -2,059,000 HK$2.22 HK$-4,573,868
28. Mar 19 Buy Citigroup Inc.,Banking and Securities Investments Company 25. Mar 19 25. Mar 19 1,385,000 HK$2.20 HK$3,042,293
X
Management checks
We assess CGN Power's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. CGN Power has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

1816 News

Simply Wall St News

When Should You Buy CGN Power Co Ltd (HKG:1816)?

received a lot of attention from a substantial price movement on the SEHK over the last few months, increasing to HK$1.97 at one point, and dropping to the lows of HK$1.72. … A question to answer is whether CGN Power's current trading price of HK$1.85 reflective of the actual value of the? … Let’s take a look at CGN Power’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

CGN Power Co Ltd (HKG:1816): Assessing Capital Returns

This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Thus, to understand how your money can grow by investing in CGN Power, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Is CGN Power Co Ltd (HKG:1816) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at other large companies. … How Does Ligang Gao's Compensation Compare With Similar Sized Companies. … Our data indicates that CGN Power Co Ltd is worth HK$80.4b, and total annual CEO compensation is CN¥862k.

Simply Wall St -

Is CGN Power Co Ltd (HKG:1816) Attractive At Its Current PE Ratio?

While 1816 might seem like an attractive stock to buy, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … I will deconstruct the P/E ratio and highlight what you need to be careful of when using the P/E ratio … What you need to know about the P/E ratio

Simply Wall St -

Is It Too Late To Buy CGN Power Co Ltd (HKG:1816)?

received a lot of attention from a substantial price movement on the SEHK over the last few months, increasing to HK$2.27 at one point, and dropping to the lows of HK$1.96. … A question to answer is whether CGN Power's current trading price of HK$1.98 reflective of the actual value of the? … Let’s take a look at CGN Power’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What Do You Get For Owning CGN Power Co Ltd (HKG:1816)?

and looking to gauge the potential return on investment in CGN Power Co Ltd (HKG:1816). … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Thus, to understand how your money can grow by investing in CGN Power, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

What To Know Before Buying CGN Power Co Ltd (HKG:1816) For Its Dividend

In the past 3 years CGN Power Co Ltd (HKG:1816) has returned an average of 2.00% per year to investors in the form of dividend payouts. … How I analyze a dividend stock … Is it paying an annual yield above 75% of dividend payers?

Simply Wall St -

CGN Power Co Ltd. (HKG:1816): Dividend Is Coming In 2 Days, Should You Buy?

Check out our latest analysis for CGN Power 5 checks you should use to assess a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Does it pay an annual yield higher than 75% of dividend payers? … The current trailing twelve-month payout ratio for the stock is 32.53%, which means that the dividend is covered by earnings. … In terms of its peers, CGN Power has a yield of 3.73%, which is high for Renewable Energy stocks but still below the market's top dividend payers.

Simply Wall St -

Read This Before Buying CGN Power Co Ltd. (HKG:1816) For Its Upcoming $0.07 Dividend

View our latest analysis for CGN Power Here's how I find good dividend stocks If you are a dividend investor, you should always assess these five key metrics: Does it pay an annual yield higher than 75% of dividend payers? … Relative to peers, CGN Power produces a yield of 3.73%, which is high for Renewable Energy stocks but still below the market's top dividend payers. … However, if you are not strictly just a dividend investor, the stock could still offer some interesting investment opportunities.

Simply Wall St -

What Are Analysts Saying About CGN Power Co Ltd.'s (HKG:1816) Future?

Below is my commentary, albeit very simple and high-level, on how market analysts view CGN Power's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … SEHK:1816 Future Profit May 24th 18 Although it’s informative understanding the rate of growth each year relative to today’s level, it may be more beneficial gauging the rate at which the earnings are rising or falling every year, on average. … The slope of this line is the rate of earnings growth, which in this case is 3.47%.

Simply Wall St -

1816 Company Info

Description

CGN Power Co., Ltd. generates and sells nuclear power in the People’s Republic of China. As of December 31, 2018, it operated and managed 22 nuclear power generating units with a total installed capacity of 24,306 megawatts. The company also engages in the development, construction, and operation of offshore power stations; and thermal power development. In addition, it engages in the provision of management, technology, and consultancy services; testing and maintenance of power stations; radiation detection and evaluation, and instrument verification; construction design; and import and export trade activities, as well as environmental protection of nuclear power. The company was founded in 2014 and is headquartered in Shenzhen, the People’s Republic of China. CGN Power Co., Ltd. is a subsidiary of China General Nuclear Power Corporation.

Details
Name: CGN Power Co., Ltd.
1816
Exchange: SEHK
Founded: 2014
HK$99,987,250,000
45,448,750,000
Website: http://www.cgnp.com.cn
Address: CGN Power Co., Ltd.
CGN Building, South Tower,
18th Floor,
Shenzhen,
Guangdong Province, 518026,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1816 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong Ltd. HK HKD 10. Dec 2014
DB 94C Foreign Shares-Foreign Listed Deutsche Boerse AG DE EUR 10. Dec 2014
SHSC 1816 Foreign Shares-Foreign Listed Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 10. Dec 2014
SZSC 1816 Foreign Shares-Foreign Listed The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 10. Dec 2014
Number of employees
Current staff
Staff numbers
18,663
CGN Power employees.
Industry
Independent Power Producers and Energy Traders
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 12:58
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/04/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.