Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$3.19, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 8x in the Renewable Energy industry in Hong Kong. Total returns to shareholders of 34% over the past three years. Announcement • Jun 09
China Power International Development Limited Approves Final Dividend for the Year Ended 31 December 2025 China Power International Development Limited at its AGM held on 8 June 2026, approved final dividend of RMB 0.168 (equivalent to HKD 0.1911) per ordinary share for the year ended 31 December 2025. Live News • Jun 04
China Power Secures RMB435 Million Contract for Major Shandong Solar and Storage Project China Power International Development’s subsidiary Weifang New Energy signed an EPC contract worth RMB435 million for Phase II of the Lubei integrated clean energy project in Shandong.
The project covers construction of a 200MW photovoltaic power plant and an energy storage facility, further building out the group’s new energy portfolio.
The EPC deal is classified as a connected transaction due to related-party involvement but does not require independent shareholders’ approval.
This contract reflects ongoing execution in China Power’s clean energy build-out, with a sizable solar and storage project that aligns with the company’s new energy focus.
Investors may want to monitor how efficiently the company manages related-party EPC work and project delivery, since this can affect both capital efficiency and perceived governance quality. Upcoming Dividend • Jun 03
Upcoming dividend of HK$0.19 per share Eligible shareholders must have bought the stock before 10 June 2026. Payment date: 30 June 2026. Payout ratio is a comfortable 71% but the company is not cash flow positive. Trailing yield: 5.1%. Lower than top quartile of Hong Kong dividend payers (6.9%). Higher than average of industry peers (4.6%). Reported Earnings • Apr 26
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.23 (down from CN¥0.27 in FY 2024). Revenue: CN¥52.4b (down 6.8% from FY 2024). Net income: CN¥2.91b (down 14% from FY 2024). Profit margin: 5.6% (down from 6.0% in FY 2024). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to stay flat during the next 3 years compared to a 4.4% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 4% per year. Major Estimate Revision • Mar 27
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥52.8b to CN¥49.0b. EPS estimate also fell from CN¥0.302 per share to CN¥0.245 per share. Net income forecast to grow 11% next year vs 7.2% growth forecast for Renewable Energy industry in Hong Kong. Consensus price target broadly unchanged at HK$3.58. Share price was steady at HK$3.25 over the past week. Declared Dividend • Mar 25
Dividend of HK$0.19 announced Shareholders will receive a dividend of HK$0.19. Ex-date: 10th June 2026 Payment date: 30th June 2026 Dividend yield will be 5.7%, which is higher than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (71% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 24
China Power International Development Limited announces Annual dividend, payable on June 30, 2026 China Power International Development Limited announced Annual dividend of HKD 0.1911 per share payable on June 30, 2026, ex-date on June 10, 2026 and record date on June 11, 2026. Reported Earnings • Mar 21
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.24. Revenue: CN¥53.0b (down 5.8% from FY 2024). Net income: CN¥3.40b (up 1.2% from FY 2024). Profit margin: 6.4% (up from 6.0% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 4.1% p.a. on average during the next 2 years, compared to a 5.3% growth forecast for the Renewable Energy industry in Hong Kong. Announcement • Mar 21
China Power International Development Limited, Annual General Meeting, Jun 04, 2026 China Power International Development Limited, Annual General Meeting, Jun 04, 2026. Announcement • Mar 10
China Power International Development Limited to Report Fiscal Year 2025 Results on Mar 20, 2026 China Power International Development Limited announced that they will report fiscal year 2025 results on Mar 20, 2026 Announcement • Jan 08
China Power International Development Limited Announces Executive Changes, Effective January 6, 2026 China Power International Development Limited announces that, effective from January 6, 2026, Mr. GUI Xude has been appointed as an Executive Director of the Company and the Chairman of the Board to succeed Mr. WANG Zichao. At the same time, Mr. GUI has been appointed to take over the positions as the Chairman of the Risk Management Committee, the Strategic and Sustainable Development Committee and the Executive Committee, as well as the Authorized Representative of the Company upon the resignation of Mr. WANG. Mr. GUI Xude, aged 50, is a chief senior economist and holds a bachelor’s degree in materials management engineering and a master’s degree in management science and engineering from Huazhong University of Science and Technology (formerly known as Huazhong University of Technology). Mr. GUI currently serves as the chairman of China Power International Holding Limited (the immediate holding company of the Company). Mr. GUI previously served as an assistant to the general manager of Three Gorges International Tendering Co. Ltd., the deputy head of the Human Resources Department and the head of the Corporate Management Department of China Three Gorges Corporation, the chairman of Shanghai Investigation, Design & Research Institute Co. Ltd., and the head of the Human Resources Department (Reform Office) of State Power Investment Corporation Limited (the ultimate controlling shareholder of the Company). The appointment of Mr. GUI has been reviewed, assessed and endorsed by the Remuneration and Nomination Committee according to the Company’s Nomination Policy and Board Diversity Policy. Mr. GUI has extensive experience in the power industry and is familiar with the power market in the PRC. As the Chairman of the Board, Mr. GUI will lead the Board in ensuring effective management and oversight of the Company’s business affairs, formulating corporate strategies and committing to high standards of good corporate governance. Following the resignation of Mr. WANG, Mr. GUI has succeeded Mr. WANG as the Chairman of the Risk Management Committee, the Strategic and Sustainable Development Committee and the Executive Committee of the Company. Mr. GUI obtained the legal advice from a law firm on December 27, 2025 and has confirmed that he understood his obligations as a director of the Company in accordance with Rule 3.09D of the Listing Rules. Mr. GUI will be subject to retirement and re-election in accordance with the Listing Rules and the Company’s articles of association. As at the date of this announcement, the directors of the Company are: executive directors GUI Xude and ZHAO Yonggang, non-executive directors HU Jiandong, ZHOU Jie, HUANG Qinghua and CHEN Pengjun, and independent non-executive directors LI Fang, YAU Ka Chi and HUI Hon Chung, Stanley. Announcement • Oct 20
China Power International Development Limited Announces Board and Committee Changes, Effective 17 October 2025 The board of directors of China Power International Development Limited announced that, due to the adjustment of his work arrangement, Mr. HE Xi has resigned from his positions as an Executive Director, the Chairman of the Board, and the Chairman of the Risk Management Committee, the Strategic and Sustainable Development Committee and the Executive Committee of the Company, effective from 17 October 2025. The Board also announces that, effective from 17 October 2025, Mr. WANG Zichao has been appointed as an Executive Director of the Company and the Chairman of the Board to succeed Mr. HE. At the same time, Mr. WANG has been appointed to take over the positions as the Chairman of the Risk Management Committee, the Strategic and Sustainable Development Committee and the Executive Committee, as well as the Authorized Representative of the Company upon the resignation of Mr. HE. Mr. WANG Zichao, aged 55, is a senior engineer and holds a master's degree in engineering majoring in power systems and automation from North China Electric Power Institute (now known as North China Electric Power University) and a master's degree of business administration from China Europe International Business School. Mr. WANG currently serves as the chairman of China Power International Holding Limited (the immediate holding company of the Company). Mr. WANG was a Non-executive Director of the Company during June 2012 to July 2015, and re-designated to Executive Director of the Company in July 2015 until he left the Company in June 2017 due to other work arrangements. Mr. WANG also previously served as the general manager of various departments of the Company, the vice president of the Company, the chairman of Wu Ling Power Corporation (a principal subsidiary of the Company), and the deputy chief economist, the secretary to the board and the head of the Operations Management Department (Supply Chain Management Department), the Corporate Governance Department (Office of the Board of Directors) and General Management Department of State Power Investment Corporation Limited (the ultimate controlling shareholder of the Company). Following the resignation of Mr. HE, Mr. WANG has succeeded Mr. HE as the Chairman of the Risk Management Committee, the Strategic and Sustainable Development Committee and the Executive Committee of the Company. Major Estimate Revision • Aug 28
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from CN¥53.6b to CN¥50.9b. EPS estimate also fell from CN¥0.342 per share to CN¥0.299 per share. Net income forecast to grow 24% next year vs 21% growth forecast for Renewable Energy industry in Hong Kong. Consensus price target broadly unchanged at HK$3.61. Share price was steady at HK$3.13 over the past week. Reported Earnings • Aug 22
First half 2025 earnings released: EPS: CN¥0.21 (vs CN¥0.21 in 1H 2024) First half 2025 results: EPS: CN¥0.21 (up from CN¥0.21 in 1H 2024). Revenue: CN¥24.7b (down 9.2% from 1H 2024). Net income: CN¥2.59b (flat on 1H 2024). Profit margin: 11% (up from 9.5% in 1H 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 12
Now 20% undervalued Over the last 90 days, the stock has risen 5.9% to HK$3.05. The fair value is estimated to be HK$3.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.9% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Jun 09
Now 23% undervalued Over the last 90 days, the stock has risen 4.8% to HK$3.08. The fair value is estimated to be HK$3.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Jun 05
China Power International Development Limited Announces Dividend or the Year Ended 31 December 2024 China Power International Development Limited at its AGM held on June 5, 2025, declared a final dividend of RMB 0.162 (equivalent to HKD 0.1754) per ordinary share for the year ended 31 December 2024. Upcoming Dividend • Jun 02
Upcoming dividend of HK$0.18 per share Eligible shareholders must have bought the stock before 09 June 2025. Payment date: 30 June 2025. Payout ratio is a comfortable 60% but the company is not cash flow positive. Trailing yield: 5.5%. Lower than top quartile of Hong Kong dividend payers (7.6%). Higher than average of industry peers (4.9%). Reported Earnings • Apr 27
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.27 (up from CN¥0.21 in FY 2023). Revenue: CN¥56.2b (up 22% from FY 2023). Net income: CN¥3.36b (up 27% from FY 2023). Profit margin: 6.0% (up from 5.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 35%. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Mar 21
China Power International Development Limited, Annual General Meeting, Jun 05, 2025 China Power International Development Limited, Annual General Meeting, Jun 05, 2025. Reported Earnings • Mar 21
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: CN¥0.27 (up from CN¥0.21 in FY 2023). Revenue: CN¥56.8b (up 23% from FY 2023). Net income: CN¥3.86b (up 45% from FY 2023). Profit margin: 6.8% (up from 5.8% in FY 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) missed analyst estimates by 33%. Revenue is forecast to grow 1.9% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Mar 03
China Power International Development Limited to Report Fiscal Year 2024 Results on Mar 20, 2025 China Power International Development Limited announced that they will report fiscal year 2024 results on Mar 20, 2025 Announcement • Nov 21
China Power International Development Limited Announces Appointment of Non-Executive Directors The board of directors of China Power International Development Limited (the ‘Company’) has resolved to increase the Board size in order to bring in further experts to meet the organizational needs, the extensive changes in the power industry and future challenges. Mr. HU Jiandong (‘Mr. HU’), aged 61, is a chief senior engineer who holds a bachelor's degree in engineering majoring in hydropower station automation from Huazhong College of Technology (now known as Huazhong University of Science and Technology) and a master's degree in economics majoring corporate management from Fudan University. He currently serves as a special duty director of State Power Investment Corporation Limited, a director of Jilin Electric Power Co., Ltd, and a director of SPIC Yellow River Upstream Hydropower Development Co. Ltd. He also formerly served as an executive director and an executive vice president of the Company when the Company was listed on the Hong Kong Stock Exchange in 2004 and remained in office until January 2008. Mr. HU held several senior positions in power related industries in the past, including the vice president of Guangxi Power Industry Survey and Design Institute, the deputy director of Guangxi Power Industry Bureau, the deputy general manager of Guangxi Power Company Limited and China Power International Holding Limited, the general manager of China Power Investment Co. Ltd., and deputy chief engineer, assistant to the general manager and concurrently the chief officer of departments or institutions such as hydropower, hydrogen power, clean energy and human resources of SPIC. Mr. HU was also the former general manager and chairman of Shanghai Electric Power Co. Ltd., from the period January 2008 to July 2011 and October 2020 to August 2022, respectively. Mr. CHEN Pengjun (‘Mr. CHEN’, formerly named as CHEN Wenwei), aged 53, is a senior economist who holds a bachelor of science degree in geography majoring in resources and environmental science from Beijing Normal University and a master's degree of business administration from Tsinghua University. He is currently a non-executive director of Aluminum Corporation of China Limited and the general manager of the asset management department I at China CITIC Financial Asset Management Co. Ltd. (‘CITIC FAMC’). Mr. CHEN previously held various significant roles in China Huarong Asset Management Co. Ltd. (now known as CITIC FAMC), including the director of the listing office, the general manager of the international business management department, the general management department and the equity business department. He also served as the general manager of Huarong International Trust Co. Ltd., China Huarong Financial Leasing Co. Ltd., Huarong Securities Co. Ltd. (now known as China Reform Securities Co. Ltd.) and the chairman of Huarong Ruitong Equity Investment Co. Ltd. There is no service contract between the Company and Mr. HU or Mr. CHEN. Each of them has entered into a letter of appointment with the Company for a term of three years, pursuant to which they are subject to retirement by rotation and re-election in accordance with the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange (the ‘Listing Rules’) and the Company's articles of association. After the appointment of Mr. HU and Mr. CHEN, the Board shall comprise of nine directors. The Company confirms that the number of independent non-executive directors maintains one-third of the total Board members pursuant to Rule 3.10A of the Listing Rules. Announcement • Oct 21
Spic Yuanda Environmental-Protection Co.,Ltd. (SHSE:600292) agreed to acquire Wuling Power Corporation Ltd. from China Power International Development Limited (SEHK:2380) and Hunan Xiangtou International Investment Limited. Spic Yuanda Environmental-Protection Co.,Ltd. (SHSE:600292) agreed to acquire Wuling Power Corporation Ltd. from China Power International Development Limited (SEHK:2380) and Hunan Xiangtou International Investment Limited on October 19, 2024. As of June 30, 2024, Wuling Power Corporation Ltd. reported total assets of CNY 55.99 billion and total common equity of CNY 16.3 billion. Upcoming Dividend • Sep 23
Upcoming dividend of HK$0.055 per share Eligible shareholders must have bought the stock before 30 September 2024. Payment date: 15 October 2024. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of Hong Kong dividend payers (8.5%). In line with average of industry peers (4.2%). Reported Earnings • Aug 24
First half 2024 earnings released: EPS: CN¥0.21 (vs CN¥0.14 in 1H 2023) First half 2024 results: EPS: CN¥0.21 (up from CN¥0.14 in 1H 2023). Revenue: CN¥27.2b (up 24% from 1H 2023). Net income: CN¥2.57b (up 53% from 1H 2023). Profit margin: 9.5% (up from 7.7% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Aug 23
China Power International Development Limited Declares Special Dividend, Payable on or Around 15 October 2024 In celebration of the 20th anniversary of China Power International Development Limited's listing and rewarding shareholders for their long-term support, the board of directors of the company has resolved to declare a special dividend of RMB 0.05 (pre-tax) (equivalent to HKD 0.0547 at the exchange rate announced by the People's Bank of China on 22 August 2024) per ordinary share (the Special Dividend) in cash and approximately in a total amount of RMB 618,508,000 (equivalent to HKD 676,647,000) based on its existing total number of ordinary shares of 12,370,150,983. It is expected that the Special Dividend will be payable on or around 15 October 2024. The Special Dividend is expected to be paid in Hong Kong dollars to those members registered in the Company's register of members on 4 October 2024 (the Dividend Record Date). Announcement • Aug 08
China Power International Development Limited to Report First Half, 2024 Results on Aug 22, 2024 China Power International Development Limited announced that they will report first half, 2024 results on Aug 22, 2024 Buy Or Sell Opportunity • Jul 10
Now 21% undervalued Over the last 90 days, the stock has risen 22% to HK$3.98. The fair value is estimated to be HK$5.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 8.6% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Buy Or Sell Opportunity • Jul 02
Now 14% undervalued Over the last 90 days, the stock has risen 34% to HK$4.20. The fair value is estimated to be HK$4.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Buy Or Sell Opportunity • Jun 27
Now 20% undervalued Over the last 90 days, the stock has risen 21% to HK$3.90. The fair value is estimated to be HK$4.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 8.8% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Buy Or Sell Opportunity • Jun 11
Now 24% undervalued Over the last 90 days, the stock has risen 7.6% to HK$3.67. The fair value is estimated to be HK$4.82, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 9.8% per annum. Earnings are also forecast to grow by 26% per annum over the same time period. Announcement • Jun 08
China Power International Development Limited Approves Final Dividend for the Year Ended 31 December 2023 China Power International Development Limited announced that at its AGM held on 6 June 2024, the shareholders approved final dividend of RMB 0.132 per ordinary share for the year ended 31 December 2023. Upcoming Dividend • Jun 04
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 11 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 61% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of Hong Kong dividend payers (7.7%). In line with average of industry peers (3.5%). Reported Earnings • Apr 28
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: CN¥0.21. Revenue: CN¥46.1b (up 3.9% from FY 2022). Net income: CN¥2.66b (up 7.2% from FY 2022). Profit margin: 5.8% (up from 5.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Renewable Energy industry in Hong Kong. Announcement • Mar 22
China Power International Development Limited, Annual General Meeting, Jun 06, 2024 China Power International Development Limited, Annual General Meeting, Jun 06, 2024. Reported Earnings • Mar 22
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: CN¥0.22. Revenue: CN¥46.6b (up 4.9% from FY 2022). Net income: CN¥3.08b (up 24% from FY 2022). Profit margin: 6.6% (up from 5.6% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Renewable Energy industry in Hong Kong. Announcement • Mar 22
China Power International Development Limited Proposes Final Dividend for the Year Ended December 31, 2023, Payable on June 28, 2024 China Power International Development Limited has resolved to propose at the 2024 AGM (defined below) to consider and declare a final dividend of RMB 0.132 (pre-tax) (equivalent to HKD 0.1455) per ordinary share for the year ended 31 December 2023 (the "2023 Final Dividend"). The 2023 Final Dividend is subject to the shareholders' approval at the forthcoming annual general meeting of the Company to be held on 6 June 2024. Ex-dividend date 11 June 2024. Record date 17 June 2024 and Payment date 28 June 2024. Announcement • Mar 06
China Power International Development Limited to Report Fiscal Year 2023 Final Results on Mar 21, 2024 China Power International Development Limited announced that they will report fiscal year 2023 final results on Mar 21, 2024 Reported Earnings • Aug 25
First half 2023 earnings released: EPS: CN¥0.14 (vs CN¥0.072 in 1H 2022) First half 2023 results: EPS: CN¥0.14 (up from CN¥0.072 in 1H 2022). Revenue: CN¥21.8b (up 6.2% from 1H 2022). Net income: CN¥1.68b (up 114% from 1H 2022). Profit margin: 7.7% (up from 3.8% in 1H 2022). Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Aug 21
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.0%. The fair value is estimated to be HK$3.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings is also forecast to grow by 31% per annum over the same time period. Announcement • Aug 10
China Power International Development Limited to Report First Half, 2023 Results on Aug 24, 2023 China Power International Development Limited announced that they will report first half, 2023 results on Aug 24, 2023 Announcement • Jul 12
China Power International Development Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended 30 June 2023 China Power International Development Limited provided unaudited consolidated earnings guidance for the six months ended 30 June 2023. For the period, the company expects profit attributable to equity holders of the Company will be between approximately RMB 1.8 billion to RMB 2.0 billion for the six months ended 30 June 2023, representing an increase of approximately 112% to 135% compared with the corresponding period in 2022. Upcoming Dividend • Jun 05
Upcoming dividend of HK$0.13 per share at 4.1% yield Eligible shareholders must have bought the stock before 12 June 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 4.1%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (4.1%). Reported Earnings • Mar 24
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: CN¥0.22 (up from CN¥0.066 loss in FY 2021). Revenue: CN¥44.4b (up 26% from FY 2021). Net income: CN¥2.65b (up CN¥3.30b from FY 2021). Profit margin: 6.0% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Announcement • Jan 14
China Power International Development Limited Provides Earning Guidance for the Year Ended 31 December 2022 China Power International Development Limited provided earning guidance for the year ended 31 December 2022. The board of directors of the Company is pleased to advise the shareholders of the Company and potential investors that, based on the preliminary assessment of the internal unaudited consolidated management accounts of the Group and the information currently available, it is expected that the profit attributable to equity holders of the Company will be between RMB 2.3 billion to RMB 2.7 billion for the year ended 31 December 2022. Compared with the loss in 2021, the Group's financial performance in 2022 will record a significant improvement and a turnaround from loss to profit. The improvement in financial results was mainly attributable to (i) a substantial increase in revenue and operating profit generated from photovoltaic power and wind power generation; (ii) a gain arising from the disposal of 60% equity interest in (Xinyuan Ronghe (Beijing) Power Co. Ltd.) of approximately RMB 650 million; and (iii) a gain on acquisition of 23 companies from (China Power International New Energy Holding Limited) and China Power (New Energy) Holdings Limited (the "Acquisitions") of approximately RMB 1.5 billion in accordance with the applicable accounting standards, arising from the difference between the share-based part of the consideration for acquisition of the target companies and the fair value of the acquired net assets due to changes in share price at the time of completion as compared to the time of entering into agreements. Buying Opportunity • Nov 17
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 39%. The fair value is estimated to be HK$3.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. 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, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Stanley Hui 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. Buying Opportunity • Oct 21
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 34%. The fair value is estimated to be HK$3.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Sep 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 32%. The fair value is estimated to be HK$4.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 27
First half 2022 earnings released: EPS: CN¥0.072 (vs CN¥0.13 in 1H 2021) First half 2022 results: EPS: CN¥0.072 (down from CN¥0.13 in 1H 2021). Revenue: CN¥20.6b (up 23% from 1H 2021). Net income: CN¥783.7m (down 40% from 1H 2021). Profit margin: 3.8% (down from 7.8% in 1H 2021). Over the next year, revenue is forecast to grow 12%, compared to a 5.8% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Upcoming Dividend • May 31
Upcoming dividend of HK$0.062 per share Eligible shareholders must have bought the stock before 07 June 2022. Payment date: 30 June 2022. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (3.4%). Buying Opportunity • May 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be HK$4.74, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Board Change • Apr 27
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, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Stanley Hui 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 • Apr 21
Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2021 results: CN¥0.066 loss per share (down from CN¥0.17 profit in FY 2020). Revenue: CN¥35.2b (up 23% from FY 2020). Net loss: CN¥649.9m (down 139% from profit in FY 2020). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 37%. Over the next year, revenue is forecast to grow 16%, compared to a 7.5% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 25% per year, which means it is well ahead of earnings. Buying Opportunity • Apr 11
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 7.8%. The fair value is estimated to be HK$5.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Meanwhile, the company became loss making. Buying Opportunity • Mar 23
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 26%. The fair value is estimated to be CN¥5.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% per annum over the last 3 years. The company became loss making over the last year. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 20% share price decline to HK$3.40, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 8x in the Renewable Energy industry in Hong Kong. Total returns to shareholders of 126% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.97 per share. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improved over the past week After last week's 16% share price gain to HK$4.41, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 9x in the Renewable Energy industry in Hong Kong. Total returns to shareholders of 177% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.96 per share. Major Estimate Revision • Feb 24
Consensus forecasts updated The consensus outlook for 2021 has been updated. Expected to report loss instead of -CN¥0.05 instead of CN¥0.09 per share profit previously forecast. . Revenue forecast unchanged at CN¥34.2b Renewable Energy industry in Hong Kong expected to see average net income growth of 22% next year. Consensus price target up from HK$4.52 to HK$4.77. Share price fell 4.3% to HK$3.80 over the past week. 