China Energy Development Holdings Limited (HK:0228)
:0228
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China Energy Development Holdings Limited
(0228)
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Rating:58Neutral
Price Target:
HK$2.00
▲(29.03% Upside)
Action:ReiteratedDate:02/04/26
Overall score reflects mixed financial performance (stable balance sheet and solid operating margins offset by revenue decline and volatile free cash flow), strong but overextended technical momentum, and a weak valuation profile driven by an extremely high P/E with no dividend yield data.
Positive Factors
Balance sheet strength
A high equity ratio and manageable leverage provide capital stability for a capital‑intensive renewables business. This reduces refinancing risk, preserves borrowing capacity for new wind/solar projects, and supports multi-year commitments to O&M and development.
Negative Factors
Revenue decline
A ~23% year‑on‑year revenue decline signals weakening top-line trends that can persistently pressure scale economics. Lower revenue reduces coverage for fixed costs and capex, making it harder to sustain returns and finance new projects without external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
A high equity ratio and manageable leverage provide capital stability for a capital‑intensive renewables business. This reduces refinancing risk, preserves borrowing capacity for new wind/solar projects, and supports multi-year commitments to O&M and development.
Read all positive factors
China Energy Development Holdings Limited (0228) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$766.42M
Dividend YieldN/A
Average Volume (3M)124.66K
Price to Earnings (P/E)18.4
Beta (1Y)0.40
Revenue Growth-23.19%
EPS Growth-94.80%
CountryHK
Employees54
SectorEnergy
Sector Strength52
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)0.03
Shares Outstanding456,200,400
10 Day Avg. Volume160,390
30 Day Avg. Volume124,655
Financial Highlights & Ratios
PEG Ratio-0.36
Price to Book (P/B)0.36
Price to Sales (P/S)2.15
P/FCF Ratio6.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
China Energy Development Holdings Limited Business Overview & Revenue Model
Company Description
China Energy Development Holdings Limited, an investment holding company, engages in the exploration, development, production, and sale of natural gas. It operates through three segments: Exploration, Production, and Distribution of Natural Gas; S...
How the Company Makes Money
The company generates revenue primarily through the sale of electricity produced from its renewable energy projects, including wind and solar farms. Key revenue streams include power generation contracts with local grid companies, which provide a ...
China Energy Development Holdings Limited Financial Statement Overview
Summary
Income Statement
65
Positive
Balance Sheet
70
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 253.13M | 300.10M | 332.03M | 323.03M | 353.59M | 173.48M |
| Gross Profit | 205.76M | 248.47M | 187.47M | 172.84M | 188.99M | 38.97M |
| EBITDA | 157.16M | 182.79M | 211.15M | 221.18M | 335.34M | 62.75M |
| Net Income | 4.55M | 27.34M | 69.53M | 83.27M | 123.78M | -14.17M |
Balance Sheet | ||||||
| Total Assets | 2.35B | 2.27B | 2.37B | 2.56B | 2.85B | 2.76B |
| Cash, Cash Equivalents and Short-Term Investments | 70.89M | 49.12M | 72.45M | 160.15M | 204.93M | 204.25M |
| Total Debt | 300.56M | 308.99M | 475.69M | 603.42M | 569.80M | 488.80M |
| Total Liabilities | 493.87M | 480.15M | 634.56M | 833.49M | 1.07B | 1.15B |
| Stockholders Equity | 1.84B | 1.78B | 1.72B | 1.72B | 1.77B | 1.60B |
Cash Flow | ||||||
| Free Cash Flow | 51.95M | 99.32M | 69.41M | -72.78M | -44.82M | -420.90M |
| Operating Cash Flow | 70.88M | 117.35M | 155.30M | 167.87M | 213.02M | 53.55M |
| Investing Cash Flow | -24.77M | -17.79M | -84.87M | -240.64M | -257.84M | -474.46M |
| Financing Cash Flow | -66.51M | -109.16M | -155.45M | 52.60M | 38.29M | 345.44M |
China Energy Development Holdings Limited Technical Analysis
Negative
1.55
Price Trends
1.79
Negative
1.62
Positive
1.64
Positive
Market Momentum
-0.04
Positive
36.89
Neutral
19.15
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0228, the sentiment is Negative. The current price of 1.55 is below the 20-day moving average (MA) of 1.82, below the 50-day MA of 1.79, and below the 200-day MA of 1.64, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 36.89 is Neutral, neither overbought nor oversold. The STOCH value of 19.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0228.
China Energy Development Holdings Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$940.22M | 10.11 | 4.05% | ― | -12.48% | ― | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
58 Neutral | HK$766.42M | 18.42 | 1.30% | ― | -23.19% | -94.80% | |
55 Neutral | HK$531.79M | -20.66 | 6.71% | 2.35% | -13.08% | -43.83% | |
52 Neutral | HK$467.54M | -0.53 | -82.00% | ― | -32.19% | -70.01% | |
51 Neutral | HK$944.54M | 4.90 | 10.74% | ― | ― | ― | |
50 Neutral | HK$1.62B | -0.39 | -35.49% | ― | 39.42% | 56.89% |
* Energy Sector Average
HK:0228
China Energy Development Holdings Limited
1.68
0.00
0.00%
HK:0603
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0.20
0.06
42.14%
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188.89%
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54.55%
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United Strength Power Holdings Ltd.
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China Energy Development Holdings Limited Corporate Events
Alpha Eagle Lifts Stake to Majority as Mandatory Cash Offer for China Energy Development Closes
Feb 3, 2026
Alpha Eagle Limited has closed its mandatory unconditional cash offers for all issued shares and outstanding convertible bonds of China Energy Development Holdings Limited not already owned by it and its concert parties, with the offers expiring o...
Alpha Eagle Dispatches Offer Document for Mandatory Cash Takeover of China Energy Development Holdings
Jan 13, 2026
Alpha Eagle Limited has formally dispatched a composite document for its mandatory unconditional cash offer to acquire all issued shares and outstanding convertible bonds of China Energy Development Holdings Limited not already owned or agreed to ...
China Energy Development Raises HK$236.7 Million in Oversubscribed Rights Issue, Triggers Mandatory Offer
Dec 23, 2025
China Energy Development Holdings Limited has completed a non-underwritten rights issue of one rights share for every two adjusted shares, offering 152,066,800 rights shares in total. The issue was slightly oversubscribed, with valid applications ...
China Energy Development Raises HK$236.7 Million in Oversubscribed Rights Issue, Triggering Mandatory Cash Offers
Dec 23, 2025
China Energy Development Holdings Limited has completed an over-subscribed rights issue, receiving valid applications for approximately 100.78% of the 152,066,800 rights shares on offer, generating gross proceeds of about HK$238.7 million and net ...
China Energy Development Announces Trading Halt Pending Inside Information Release
Dec 17, 2025
China Energy Development Holdings Limited has announced a trading halt on its shares effective from December 17, 2025. This decision is pending the release of an announcement related to inside information and in accordance with The Code on Takeove...
China Energy Development Revises Rights Issue Timetable
Nov 17, 2025
China Energy Development Holdings Limited has announced a revised timetable for its proposed Rights Issue due to the need for additional time to prepare necessary documents. The updated schedule outlines key dates for trading arrangements and shar...
China Energy Development Holdings Limited Addresses Legal Dispute Impact
Nov 17, 2025
China Energy Development Holdings Limited has been involved in a legal dispute concerning convertible bonds, where an injunction order was issued by the High Court of Hong Kong against two defendants, prohibiting them from certain actions related ...
China Energy Development Holdings Delays Rights Issue Timetable
Nov 6, 2025
China Energy Development Holdings Limited has announced a delay in the timetable for its proposed rights issue due to the need for additional time to prepare and finalize necessary documents. This delay affects events subsequent to November 6, 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.