China Resources Power Holdings
China Resources Power Holdings Company Limited, an investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China. The last earnings update was 23 days ago. More info.
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- China Resources Power Holdings has significant price volatility in the past 3 months.
836 Share Price and Events
7 Day Returns
1 Year Returns
836 Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| China Resources Power Holdings (836) | -0.2% | -8.4% | -33% | -34.2% | -11.5% | -48.8% |
| HK Renewable Energy | -2% | -9.1% | -14.3% | -27.3% | -16.8% | -43.1% |
| HK Market | -2.2% | -9.5% | -6% | -15.4% | 22% | 6.7% |
1 Year Return vs Industry and Market
- 836 underperformed the Renewable Energy industry which returned -27.3% over the past year.
- 836 underperformed the Market in Hong Kong which returned -15.4% over the past year.
Value
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
China Resources Power Holdings
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for China Resources Power Holdings.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 13 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 9.3% |
| 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.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year HK Govt Bond Rate | 2% |
| Equity Risk Premium | S&P Global | 6.7% |
| Renewable Energy Unlevered Beta | Simply Wall St/ S&P Global | 0.47 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.471 (1 + (1- 25%) (191.76%)) |
1.099 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.1 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.099 * 6.65%) |
9.31% |
Discounted Cash Flow Calculation for SEHK:836 using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for China Resources Power Holdings 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.
| Levered FCF (HKD, Millions) | Source |
Present Value Discounted (@ 9.31%) |
|
|---|---|---|---|
| 2019 | -1,865.50 | Analyst x2 | -1,706.61 |
| 2020 | -49.67 | Analyst x3 | -41.57 |
| 2021 | 170.50 | Analyst x2 | 130.54 |
| 2022 | 171.57 | Est @ 0.63% | 120.17 |
| 2023 | 173.35 | Est @ 1.04% | 111.08 |
| 2024 | 175.66 | Est @ 1.33% | 102.97 |
| 2025 | 178.34 | Est @ 1.53% | 95.64 |
| 2026 | 181.33 | Est @ 1.67% | 88.96 |
| 2027 | 184.54 | Est @ 1.77% | 82.82 |
| 2028 | 187.94 | Est @ 1.84% | 77.16 |
| Present value of next 10 years cash flows | HK$-938.85 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= HK$187.94 × (1 + 2%) ÷ (9.31% – 2%) |
HK$2,623.40 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= HK$2,623.40 ÷ (1 + 9.31%)10 |
HK$1,077.09 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= HK$-938.85 + HK$1,077.09 |
HK$138.24 |
| Equity Value per Share (HKD) |
= Total value / Shares Outstanding
= HK$138.24 / 4,810.44 |
HK$0.03 |
| Calculation | Result | |
|---|---|---|
| Value per share (HKD) | From above. | HK$0.03 |
| Current discount | Discount to share price of
HK$10.50
= -1 x (HK$10.50 - HK$0.03) / HK$0.03 |
-36437.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of China Resources Power Holdings is above its future cash flow value.
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 China Resources Power Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
China Resources Power Holdings's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in HKD | HK$0.83 |
| SEHK:836 Share Price ** | SEHK (2019-05-23) in HKD | HK$10.5 |
| Hong Kong Renewable Energy Industry PE Ratio | Median Figure of 23 Publicly-Listed Renewable Energy Companies | 8.9x |
| Hong Kong Market PE Ratio | Median Figure of 1,478 Publicly-Listed Companies | 11.07x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of China Resources Power Holdings.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = SEHK:836 Share Price ÷ EPS (both in HKD) = 10.5 ÷ 0.83 |
12.71x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Power Holdings is overvalued based on earnings compared to the HK Renewable Energy industry average.
- China Resources Power Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does
China Resources Power Holdings's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 12.71x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts |
25.6%per year |
| Hong Kong Renewable Energy Industry PEG Ratio | Median Figure of 16 Publicly-Listed Renewable Energy Companies | 0.54x |
| Hong Kong Market PEG Ratio | Median Figure of 463 Publicly-Listed Companies | 0.79x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 12.71x ÷ 25.6% |
0.5x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Power Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
China Resources Power Holdings's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in HKD | HK$14.58 |
| SEHK:836 Share Price * | SEHK (2019-05-23) in HKD | HK$10.5 |
| Hong Kong Renewable Energy Industry PB Ratio | Median Figure of 26 Publicly-Listed Renewable Energy Companies | 0.66x |
| Hong Kong Market PB Ratio | Median Figure of 2,157 Publicly-Listed Companies | 0.97x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = SEHK:836 Share Price ÷ Book Value per Share (both in HKD) = 10.5 ÷ 14.58 |
0.72x |
* Primary Listing of China Resources Power Holdings.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Power Holdings is overvalued based on assets compared to the HK Renewable Energy industry average.
Value checks
We assess China Resources Power Holdings's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Renewable Energy industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Renewable Energy industry average (and greater than 0)? (1 check) China Resources Power Holdings has a total score of 1/6, 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.
Future Performance
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!
Earnings growth vs Low Risk Savings
- China Resources Power Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
- China Resources Power Holdings's earnings growth is expected to exceed the Hong Kong market average.
- China Resources Power Holdings's revenue growth is positive but not above the Hong Kong market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| SEHK:836 Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts | 25.6% |
| SEHK:836 Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts | 3.1% |
| Hong Kong Renewable Energy Industry Earnings Growth Rate | Market Cap Weighted Average | 18.3% |
| Hong Kong Renewable Energy Industry Revenue Growth Rate | Market Cap Weighted Average | 4% |
| Hong Kong Market Earnings Growth Rate | Market Cap Weighted Average | 11.4% |
| Hong Kong Market Revenue Growth Rate | Market Cap Weighted Average | 10.4% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| Date (Data in HKD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 83,772 | 25,283 | 10,009 | 10 |
| 2020-12-31 | 80,444 | 23,154 | 9,051 | 13 |
| 2019-12-31 | 75,671 | 19,734 | 7,514 | 12 |
| Date (Data in HKD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 76,940 | 18,097 | 3,950 |
| 2018-09-30 | 77,734 | 18,350 | 4,840 |
| 2018-06-30 | 78,527 | 18,603 | 5,729 |
| 2018-03-31 | 75,919 | 18,583 | 5,176 |
| 2017-12-31 | 73,312 | 18,562 | 4,623 |
| 2017-09-30 | 71,323 | 17,047 | 4,425 |
| 2017-06-30 | 69,334 | 15,532 | 4,226 |
| 2017-03-31 | 67,773 | 18,913 | 5,967 |
| 2016-12-31 | 66,213 | 22,295 | 7,708 |
| 2016-09-30 | 65,839 | 24,476 | 8,128 |
| 2016-06-30 | 65,465 | 26,658 | 8,549 |
| 2016-03-31 | 68,450 | 29,323 | 9,287 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
All data from China Resources Power Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in HKD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 2.04 | 2.38 | 1.68 | 9.00 |
| 2020-12-31 | 1.86 | 2.13 | 1.57 | 12.00 |
| 2019-12-31 | 1.56 | 1.75 | 1.40 | 12.00 |
| Date (Data in HKD Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.83 |
| 2018-09-30 | 1.01 |
| 2018-06-30 | 1.20 |
| 2018-03-31 | 1.08 |
| 2017-12-31 | 0.97 |
| 2017-09-30 | 0.93 |
| 2017-06-30 | 0.88 |
| 2017-03-31 | 1.25 |
| 2016-12-31 | 1.62 |
| 2016-09-30 | 1.70 |
| 2016-06-30 | 1.79 |
| 2016-03-31 | 1.95 |
*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.
- China Resources Power Holdings is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess China Resources Power Holdings's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
China Resources Power Holdings has a total score of 3/6, 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.
Past Performance
How has China Resources Power Holdings 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
Past Earnings growth analysis
- China Resources Power Holdings's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- China Resources Power Holdings's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- China Resources Power Holdings's 1-year earnings growth is negative, it can't be compared to the HK Renewable Energy industry average.
Earnings and Revenue History
All data from China Resources Power Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in HKD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 76,940.13 | 3,950.44 | 6,219.86 | |
| 2018-09-30 | 77,733.64 | 4,839.67 | 6,057.06 | |
| 2018-06-30 | 78,527.16 | 5,728.90 | 5,894.26 | |
| 2018-03-31 | 75,919.42 | 5,176.11 | 5,581.83 | |
| 2017-12-31 | 73,311.68 | 4,623.32 | 5,269.40 | |
| 2017-09-30 | 71,322.68 | 4,424.58 | 5,564.55 | |
| 2017-06-30 | 69,333.69 | 4,225.83 | 5,859.70 | |
| 2017-03-31 | 67,773.14 | 5,967.10 | 5,746.57 | |
| 2016-12-31 | 66,212.59 | 7,708.37 | 5,633.45 | |
| 2016-09-30 | 65,838.68 | 8,128.46 | 5,485.43 | |
| 2016-06-30 | 65,464.77 | 8,548.54 | 5,337.42 | |
| 2016-03-31 | 68,450.32 | 9,286.89 | 5,426.80 | |
| 2015-12-31 | 71,435.88 | 10,025.24 | 5,516.18 | |
| 2015-09-30 | 71,616.38 | 9,994.57 | 5,433.36 | |
| 2015-06-30 | 71,796.88 | 9,963.90 | 5,350.55 | |
| 2015-03-31 | 71,238.75 | 9,589.38 | 5,369.09 | |
| 2014-12-31 | 70,680.63 | 9,214.86 | 5,387.64 | |
| 2014-09-30 | 71,870.54 | 10,481.75 | 5,195.71 | |
| 2014-06-30 | 73,060.46 | 11,748.64 | 5,003.79 | |
| 2014-03-31 | 71,320.99 | 11,382.09 | 4,793.31 | |
| 2013-12-31 | 69,581.53 | 11,015.53 | 4,582.83 | |
| 2013-09-30 | 66,709.80 | 10,411.70 | 4,414.76 | |
| 2013-06-30 | 63,838.08 | 9,807.88 | 4,246.68 | |
| 2013-03-31 | 63,136.80 | 8,643.40 | 4,073.87 | |
| 2012-12-31 | 62,435.52 | 7,478.92 | 3,901.05 | |
| 2012-09-30 | 62,527.93 | 6,223.56 | 3,568.66 | |
| 2012-06-30 | 62,620.35 | 4,968.20 | 3,236.27 |
*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.
- China Resources Power Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- China Resources Power Holdings used its assets less efficiently than the HK Renewable Energy industry average last year based on Return on Assets.
- China Resources Power Holdings's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess China Resources Power Holdings's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Renewable Energy industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
China Resources Power Holdings has a total score of 0/6, 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.
Health
How is China Resources Power Holdings'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 China Resources Power Holdings's finances.
The net worth of a company is the difference between its assets and liabilities.
- China Resources Power Holdings's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- China Resources Power Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- 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.
All data from China Resources Power Holdings Company Filings, last reported 4 months ago.
| Date (Data in HKD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 77,284.61 | 96,675.14 | 7,977.15 |
| 2018-09-30 | 77,284.61 | 96,675.14 | 7,977.15 |
| 2018-06-30 | 79,210.36 | 110,309.29 | 8,100.33 |
| 2018-03-31 | 79,210.36 | 110,309.29 | 8,100.33 |
| 2017-12-31 | 80,741.88 | 101,722.87 | 5,381.69 |
| 2017-09-30 | 80,741.88 | 101,722.87 | 5,381.69 |
| 2017-06-30 | 74,735.47 | 103,181.43 | 6,168.51 |
| 2017-03-31 | 74,735.47 | 103,181.43 | 6,168.51 |
| 2016-12-31 | 74,564.86 | 91,463.40 | 4,347.02 |
| 2016-09-30 | 74,564.86 | 91,463.40 | 4,347.02 |
| 2016-06-30 | 76,300.15 | 93,335.80 | 3,392.19 |
| 2016-03-31 | 76,300.15 | 93,335.80 | 3,392.19 |
| 2015-12-31 | 83,739.34 | 88,544.68 | 7,273.95 |
| 2015-09-30 | 83,739.34 | 88,544.68 | 7,273.95 |
| 2015-06-30 | 89,658.95 | 100,518.89 | 11,856.08 |
| 2015-03-31 | 89,658.95 | 100,518.89 | 11,856.08 |
| 2014-12-31 | 85,792.37 | 100,525.10 | 8,290.35 |
| 2014-09-30 | 85,792.37 | 100,525.10 | 8,290.35 |
| 2014-06-30 | 85,065.99 | 97,317.90 | 8,074.96 |
| 2014-03-31 | 85,065.99 | 97,317.90 | 8,074.96 |
| 2013-12-31 | 84,732.88 | 92,743.11 | 6,038.00 |
| 2013-09-30 | 84,732.88 | 92,743.11 | 6,038.00 |
| 2013-06-30 | 78,264.71 | 82,680.45 | 5,141.18 |
| 2013-03-31 | 78,264.71 | 82,680.45 | 5,141.18 |
| 2012-12-31 | 68,896.00 | 83,704.30 | 4,400.98 |
| 2012-09-30 | 68,896.00 | 83,704.30 | 4,400.98 |
| 2012-06-30 | 63,826.25 | 87,027.28 | 6,673.89 |
- China Resources Power Holdings's level of debt (125.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (109.5% vs 125.1% today).
- Debt is not well covered by operating cash flow (18.7%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 3.8x coverage).
Financial health checks
We assess China Resources Power Holdings's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) China Resources Power Holdings has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
Dividends
What is China Resources Power Holdings'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
If you bought
HK$2,000 of
China Resources Power Holdings
shares you are expected to receive
HK$62
in your first year as a dividend.
Dividend Amount
- China Resources Power Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
- China Resources Power Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.77%).
Upcoming dividend payment
Purchase China Resources Power Holdings before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| Hong Kong Renewable Energy Industry Average Dividend Yield | Market Cap Weighted Average of 18 Stocks | 3.5% |
| Hong Kong Market Average Dividend Yield | Market Cap Weighted Average of 968 Stocks | 3.7% |
| Hong Kong Minimum Threshold Dividend Yield | 10th Percentile | 1.2% |
| Hong Kong Bottom 25% Dividend Yield | 25th Percentile | 2.1% |
| Hong Kong Top 25% Dividend Yield | 75th Percentile | 5.8% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in HK$) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 0.75 | 10.00 |
| 2020-12-31 | 0.72 | 12.00 |
| 2019-12-31 | 0.61 | 12.00 |
| Date (Data in HK$) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-30 | 0.328 | 3.056 |
| 2019-03-22 | 0.328 | 2.847 |
| 2018-04-30 | 0.875 | 5.973 |
| 2018-03-19 | 0.875 | 6.101 |
| 2017-04-28 | 0.875 | 6.011 |
| 2017-03-23 | 0.875 | 6.202 |
| 2016-04-28 | 0.850 | 6.583 |
| 2016-03-21 | 0.850 | 5.970 |
| 2015-08-18 | 0.800 | 5.184 |
| 2015-06-08 | 0.780 | 3.777 |
| 2014-04-25 | 0.750 | 3.536 |
| 2014-03-17 | 0.750 | 3.718 |
| 2013-04-15 | 0.510 | 2.686 |
| 2013-03-18 | 0.510 | 2.195 |
| 2012-03-19 | 0.300 | 1.806 |
| 2011-08-22 | 0.330 | 2.372 |
| 2011-03-17 | 0.330 | 2.241 |
| 2010-08-23 | 0.380 | 2.624 |
| 2010-03-22 | 0.380 | 2.320 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- China Resources Power Holdings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- China Resources Power Holdings has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Income/ dividend checks
We assess China Resources Power Holdings's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can China Resources Power Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) China Resources Power Holdings 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.
Management
- China Resources Power Holdings has no CEO, or we have no data on them.
Management Team Tenure
Average tenure and age of the China Resources Power Holdings management team in years:
- The tenure for the China Resources Power Holdings management team is about average.
Management Team
Min Hu
President & Executive Director
HK$5M
52
3.1 yrs
Xiao Bin Wang
CFO, Company Secretary & Executive Director
HK$6M
46
Gang Zhang
VP & General Legal Counsel
41
Lihui Jiang
Senior Vice President
55
7.1 yrs
Guolin Zhu
Senior VP & Finance Director
58
Hongbo Xu
Assistant President & GM of the Strategic Development Department
41
1.3 yrs
Jianbo Zhou
Senior Vice President
44
0.6 yrs
Board of Directors Tenure
Average tenure and age of the China Resources Power Holdings board of directors in years:
- The tenure for the China Resources Power Holdings board of directors is about average.
Board of Directors
Ru Ge Li
Chairman of the Board
55
1.2 yrs
Min Hu
President & Executive Director
HK$5M
52
3.1 yrs
Xiao Bin Wang
CFO, Company Secretary & Executive Director
HK$6M
46
13.3 yrs
Andrew Ma
Independent Non-Executive Director
HK$345K
76
12.4 yrs
Elsie Leung
Independent Non-Executive Director
HK$345K
79
9.1 yrs
Raymond Ch'ien
Independent Non-Executive Director
HK$300K
66
9.1 yrs
Ying Chen
Non-Executive Director
47
6.9 yrs
Michael Mac Isaac
Director
5.1 yrs
Jack So
Independent Non-Executive Director
HK$345K
72
4.9 yrs
Yan Wang
Non-Executive Director
46
4.8 yrs
Who owns this company?
Recent Insider Trading
- China Resources Power Holdings insiders have sold more shares than they have bought in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (HK$) | Value (HK$) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 30. Apr 19 | Sell | Chiu Cheung Ma | Individual | 29. Apr 19 | 29. Apr 19 | -500,000 | HK$11.06 | HK$-5,530,002 | ||
| 29. Mar 19 | Buy | Min Hu | Individual | 26. Mar 19 | 26. Mar 19 | 50,000 | HK$11.54 | HK$577,000 | ||
| 29. Mar 19 | Buy | Min Hu | Individual | 28. Mar 19 | 28. Mar 19 | 50,000 | HK$11.72 | HK$586,000 | ||
| 03. Oct 18 | Buy | J.P. Morgan Asset Management, Inc. | Company | 28. Sep 18 | 28. Sep 18 | 12,736,607 | HK$13.81 | HK$175,886,165 | ||
| 12. Jun 18 | Sell | J.P. Morgan Asset Management, Inc. | Company | 07. Jun 18 | 07. Jun 18 | -498,763 | HK$15.81 | HK$-7,884,444 | ||
Management checks
We assess China Resources Power Holdings's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) China Resources Power Holdings 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.
News
Simply Wall St News
China Resources Power Holdings Company Limited (HKG:836): Are Analysts Bullish?
Help shape the future of investing tools and you could win a $250 gift card! … China Resources Power Holdings Company Limited's (HKG:836) released its most recent earnings update in December 2018, which … company
Simply Wall St - – Full articleInterested In China Resources Power Holdings Company Limited (HKG:836)? Here's How It Performed Recently
Assessing China Resources Power Holdings Company Limited's (HKG:836) performance as a company requires looking at more than just a years' earnings data. … Below, I will run you through a simple sense check to build perspective on how China Resources Power Holdings is doing by comparing its most recent earnings with its historical trend, in addition to the performance of its renewable energy industry peers. … See our latest analysis for China Resources Power Holdings?
Simply Wall St - – Full articleChina Resources Power Holdings Company Limited (HKG:836): The Yield That Matters The Most
China Resources Power Holdings Company Limited (HKG:836) shareholders, and potential investors, need to understand how much cash the business makes from its core operational activities, as well as how much is invested back into the business. … I will take you through China Resources Power Holdings’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … I will be analysing China Resources Power Holdings’s FCF by looking at its FCF yield and its operating cash flow growth.
Simply Wall St - – Full articleShould You Like China Resources Power Holdings Company Limited’s (HKG:836) High Return On Capital Employed?
Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.
Simply Wall St - – Full articleHave Insiders Been Selling China Resources Power Holdings Company Limited (HKG:836) Shares This Year?
So shareholders might well want to know whether insiders have been buying or selling shares in China Resources Power Holdings Company Limited (HKG:836). … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … The Last 12 Months Of Insider Transactions At China Resources Power Holdings.
Simply Wall St - – Full articleShould You Be Tempted To Sell China Resources Power Holdings Company Limited (HKG:836) Because Of Its P/E Ratio?
To keep it practical, we'll show how China Resources Power Holdings Company Limited's (HKG:836) P/E ratio could help you assess the value on offer. … China Resources Power Holdings has a P/E ratio of 13.09, based on the last twelve months. … How Do I Calculate China Resources Power Holdings's Price To Earnings Ratio
Simply Wall St - – Full articleA Note On China Resources Power Holdings Company Limited's (HKG:836) ROE and Debt To Equity
We'll use ROE to examine China Resources Power Holdings Company Limited (HKG:836), by way of a worked example. … Our data shows China Resources Power Holdings has a return on equity of 8.6% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleCan We See Significant Institutional Ownership On The China Resources Power Holdings Company Limited (HKG:836) Share Register?
If you want to know who really controls China Resources Power Holdings Company Limited (HKG:836), then you'll have to look at the makeup of its share registry. … Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … China Resources Power Holdings has a market capitalization of HK$76b, so it's too big to fly under the radar.
Simply Wall St - – Full articleIs China Resources Power Holdings Company Limited (HKG:836) Undervalued After Accounting For Its Future Growth?
Growth expectations for China Resources Power Holdings Company Limited (HKG:836) are high, but many investors are starting to ask whether its last close at HK$15.84 can still be rationalized by the future potential. … Check out our latest analysis for China Resources Power Holdings? … According to the analysts covering the company, the following few years should bring about good growth prospects for China Resources Power Holdings
Simply Wall St - – Full articleWhat Is China Resources Power Holdings Company Limited's (HKG:836) Share Price Doing?
China Resources Power Holdings Company Limited (HKG:836), which is in the renewable energy business, and is based in Hong Kong,. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine China Resources Power Holdings’s valuation and outlook in more detail to determine if there’s still a bargain opportunity
Simply Wall St - – Full articleCompany Info
Description
China Resources Power Holdings Company Limited, an investment holding company, invests in, develops, operates, and manages power plants and coal mines in the People’s Republic of China. The company operates in three segments: Thermal Power, Renewable Energy, and Coal Mining. It operates and manages coal- and gas-fired power plants, wind farms, photovoltaic power projects, hydro-electric projects, and other clean and renewable energy projects. As of December 31, 2017, the company had 38 coal-fired power plants, 76 wind farms, 14 photovoltaic power plants, 2 hydroelectric plants, and 2 gas-fired plants with total attributable operational generation capacity of 36,077MW. It also produces, processes, and sells coal; and undertakes coastal thermal power, heat and power combined generation, coal-electricity integration, and other projects. In addition, the company engages in the power sale, distribution network construction and operation, distributed energy resource, and other businesses. Further, it provides various energy solutions. The company was founded in 2001 and is based in Wanchai, Hong Kong, and is considered a Red Chip company due to its listing on the Hong Kong Stock Exchange. China Resources Power Holdings Company Limited is a subsidiary of CRH (Power) Limited.
Details
| Name: | China Resources Power Holdings Company Limited |
| 836 | |
| Exchange: | SEHK |
| Founded: | 2001 |
| HK$50,413,450,405 | |
| 4,810,443,741 | |
| Website: | http://www.cr-power.com |
| Address: |
China Resources Power Holdings Company Limited China Resources Building, 20th Floor, Wanchai, Hong Kong |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| SEHK | 836 | Ordinary Shares | The Stock Exchange of Hong Kong Ltd. | HK | HKD | 12. Nov 2003 | |
| OTCPK | CRPJ.F | Ordinary Shares | Pink Sheets LLC | US | USD | 12. Nov 2003 | |
| DB | CRP | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 12. Nov 2003 | |
| SHSC | 836 | Ordinary Shares | Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect | HK | HKD | 12. Nov 2003 | |
| SZSC | 836 | Ordinary Shares | The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect | HK | HKD | 12. Nov 2003 | |
| OTCPK | CRPJ.Y | ADR | Pink Sheets LLC | US | USD | 30. Oct 2008 |
Number of employees
Current staff
Industry
| Independent Power Producers and Energy Traders | |
| Utilities |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/23 12:33 |
| End of day share price update: | 2019/05/23 00:00 |
| Last estimates confirmation: | 2019/05/20 |
| Last earnings filing: | 2019/04/30 |
| Last earnings reported: | 2018/12/31 |
| 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.
