SEHK:836

Stock Analysis Report

China Resources Power Holdings

Executive Summary

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.

Snowflake

Fundamentals

Good value average dividend payer.


Similar Companies

Share Price & News

How has China Resources Power Holdings's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.5%

836

-1.2%

HK Renewable Energy

0.9%

HK Market


1 Year Return

-26.6%

836

-8.6%

HK Renewable Energy

0.6%

HK Market

Return vs Industry: 836 underperformed the Hong Kong Renewable Energy industry which returned -8.6% over the past year.

Return vs Market: 836 underperformed the Hong Kong Market which returned 0.6% over the past year.


Shareholder returns

836IndustryMarket
7 Day-2.5%-1.2%0.9%
30 Day-12.5%-6.2%0.4%
90 Day-15.3%-10.8%-5.5%
1 Year-23.7%-26.6%-5.5%-8.6%4.2%0.6%
3 Year-20.1%-31.5%-18.2%-25.9%15.5%3.9%
5 Year-41.4%-54.8%-44.4%-54.2%19.9%-0.1%

Price Volatility Vs. Market

How volatile is China Resources Power Holdings's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is China Resources Power Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: 836 (HK$9.42) is trading below our estimate of fair value (HK$187.53)

Significantly Undervalued: 836 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 836 is poor value based on its PE Ratio (9x) compared to the Renewable Energy industry average (8.9x).

PE vs Market: 836 is good value based on its PE Ratio (9x) compared to the Hong Kong market (10.3x).


Price to Earnings Growth Ratio

Low PEG Ratio: 836 is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: 836 is overvalued based on its PB Ratio (0.6x) compared to the HK Renewable Energy industry average (0.6x).


Next Steps

Future Growth

How is China Resources Power Holdings forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

16.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 836's forecast earnings growth (16.9% per year) is above the savings rate (2%).

Earnings vs Market: 836's earnings (16.9% per year) are forecast to grow faster than the Hong Kong market (11.4% per year).

High Growth Earnings: 836's earnings are forecast to grow, but not significantly.

Revenue vs Market: 836's revenue (5.6% per year) is forecast to grow slower than the Hong Kong market (10.2% per year).

High Growth Revenue: 836's revenue (5.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: 836's Return on Equity is forecast to be low in 3 years time (11.2%).


Next Steps

Past Performance

How has China Resources Power Holdings performed over the past 5 years?

-20.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: 836's earnings have declined by -20.9% per year over the past 5 years.

Accelerating Growth: 836's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 836 had negative earnings growth (-12.6%) over the past year, making it difficult to compare to the Renewable Energy industry average (-3.9%).


Return on Equity

High ROE: 836's Return on Equity (7.4%) is considered low.


Return on Assets

ROA vs Industry: 836's Return on Assets is below or equal to the Renewable Energy industry average last year.


Return on Capital Employed

ROCE Improving: 836's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is China Resources Power Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 836's short term assets (HK$32.1B) do not cover its short term liabilities (HK$63.8B)

Long Term Liabilities: 836's short term assets (32.1B) do not cover its long term liabilities (70.4B)


Debt to Equity History and Analysis

Debt Level: 836's debt to equity ratio (125.1%) is considered high

Reducing Debt: 836's debt to equity ratio has increased from 114.4% to 125.1% over the past 5 years.

Debt Coverage: 836's debt is not well covered by operating cash flow (18.6%).

Interest Coverage: 836's interest payments on its debt are well covered by EBIT (3.9x coverage).


Balance Sheet

Inventory Level: 836 has a high level of physical assets or inventory.

Debt Coverage by Assets: 836's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

What is China Resources Power Holdings's current dividend yield, its reliability and sustainability?

3.48%

Current Dividend Yield


Dividend Yield vs Market

company3.5%marketbottom25%2.3%markettop25%6.3%industryaverage3.8%forecastin3Years7.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: 836's dividend (3.48%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.26%).

High Dividend: 836's dividend (3.48%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.25%).

Stable Dividend: 836's dividend payments have been volatile in the past 10 years.

Growing Dividend: 836's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (38.6%), 836's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 836's dividends in 3 years are forecast to be well covered by earnings (38.7% payout ratio).


Next Steps

Management

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

2.6yrs

Average management tenure


CEO

China Resources Power Holdings has no CEO, or we have no data on them.


Management Age and Tenure

2.6yrs

Average Tenure

47yo

Average Age

Experienced Management: 836's management team is considered experienced (2.6 years average tenure).


Board Age and Tenure

6.3yrs

Average Tenure

58.5yo

Average Age

Experienced Board: 836's board of directors are considered experienced (6.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellHK$5,530,00230 Apr 19
Chiu Cheung Ma
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares500,000
Max PriceHK$11.06
BuyHK$577,00029 Mar 19
Min Hu
EntityIndividual
Role
Member of the Board of Directors
President & Executive Director
Shares50,000
Max PriceHK$11.54
BuyHK$586,00029 Mar 19
Min Hu
EntityIndividual
Role
Member of the Board of Directors
President & Executive Director
Shares50,000
Max PriceHK$11.72

Ownership Breakdown


Management Team

  • Xiao Bin Wang (47yo)

    CFO, Company Secretary & Executive Director

    • Tenure: 13.7yrs
    • Compensation: HK$3.94m
  • Lihui Jiang (56yo)

    Senior Vice President

    • Tenure: 7.5yrs
  • Min Hu (53yo)

    President & Executive Director

    • Tenure: 3.5yrs
    • Compensation: HK$4.52m
  • Guolin Zhu (59yo)

    Senior VP & Finance Director

    • Tenure: 0yrs
  • Gang Zhang (42yo)

    VP & General Legal Counsel

    • Tenure: 0yrs
  • Hongbo Xu (42yo)

    Assistant President & GM of the Strategic Development Department

    • Tenure: 1.8yrs
  • Jianbo Zhou (45yo)

    Senior Vice President

    • Tenure: 1yrs

Board Members

  • Raymond Ch'ien (67yo)

    Independent Non-Executive Director

    • Tenure: 9.5yrs
    • Compensation: HK$300.00k
  • Jack So (73yo)

    Independent Non-Executive Director

    • Tenure: 5.3yrs
    • Compensation: HK$345.00k
  • Ying Chen (48yo)

    Non-Executive Director

    • Tenure: 7.3yrs
  • Xiao Bin Wang (47yo)

    CFO, Company Secretary & Executive Director

    • Tenure: 13.7yrs
    • Compensation: HK$3.94m
  • Andrew Ma (77yo)

    Independent Non-Executive Director

    • Tenure: 12.8yrs
    • Compensation: HK$345.00k
  • Ru Ge Li (56yo)

    Chairman of the Board

    • Tenure: 1.6yrs
  • Yan Wang (47yo)

    Non-Executive Director

    • Tenure: 5.2yrs
  • Elsie Leung (80yo)

    Independent Non-Executive Director

    • Tenure: 9.5yrs
    • Compensation: HK$345.00k
  • Min Hu (53yo)

    President & Executive Director

    • Tenure: 3.5yrs
    • Compensation: HK$4.52m
  • Changxin Ge (61yo)

    Non-Executive Director & Senior Consultant to the President

    • Tenure: 3.5yrs
    • Compensation: HK$5.48m

Company Information

China Resources Power Holdings Company Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: China Resources Power Holdings Company Limited
  • Ticker: 836
  • Exchange: SEHK
  • Founded: 2001
  • Industry: Independent Power Producers and Energy Traders
  • Sector: Utilities
  • Market Cap: HK$45.314b
  • Shares outstanding: 4.81b
  • Website: https://www.cr-power.com

Number of Employees


Location

  • China Resources Power Holdings Company Limited
  • China Resources Building
  • 20th Floor
  • Wanchai
  • Hong Kong

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRPJ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2003
836SEHK (The Stock Exchange of Hong Kong Ltd.)YesOrdinary SharesHKHKDNov 2003
CRPDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2003
836SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect)YesOrdinary SharesHKHKDNov 2003
836SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect)YesOrdinary SharesHKHKDNov 2003
CRPJ.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2008

Biography

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 operate ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 12:34
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.