China Resources Power Holdings Co (0836) AI Stock Analysis

• Market Cap: HK$91.27B
• Dividend Yield: 5.96%
• Average Volume (3M): 11.03M
• Price to Earnings (P/E): 6.9
• Beta (1Y): 0.44
• Revenue Growth: 1.42%
• EPS Growth: -10.32%
• Country: HK
• Employees: 21,849
• Sector: Utilities
• Sector Strength: 65
• Industry: Independent Power Producers
• EPS (TTM): 1.52
• Shares Outstanding: 5,177,057,600
• 10 Day Avg. Volume: 14,191,771
• 30 Day Avg. Volume: 11,027,659
• PEG Ratio: 0.21
• Price to Book (P/B): 0.83
• Price to Sales (P/S): 0.87
• P/FCF Ratio: -5.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$24.20
• Price Target Upside: 31.96% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): 21
• Revenue Forecast (FY): HK$818.93B

• Rating: 73 Outperform
• Price Target: HK$20.50 ▲(11.78% Upside)

China Resources Power Holdings scores well due to its strong financial performance and attractive valuation. The company's solid profitability and stable growth, coupled with a low P/E ratio and high dividend yield, make it appealing. However, technical indicators suggest a neutral market sentiment, and cash flow challenges due to high capital expenditures warrant attention.

Positive Factors

Strong Profit Margins

High profit margins indicate efficient cost management and strong pricing power, supporting long-term profitability and competitive positioning.

Diverse Energy Portfolio

A diverse energy portfolio reduces dependency on a single energy source, mitigating risks and enhancing resilience against market fluctuations.

Strong Operating Cash Flow

Strong operating cash flow indicates the company's ability to generate cash from operations, supporting reinvestment and debt servicing.

Negative Factors

High Capital Expenditures

Persistent high capital expenditures can strain liquidity and limit financial flexibility, potentially impacting future growth and stability.

Leverage Concerns

Moderate leverage requires careful management to prevent financial strain, especially in volatile market conditions or interest rate environments.

Declining EPS Growth

Declining EPS growth can signal challenges in maintaining profitability and may affect investor confidence and future capital raising capabilities.

China Resources Power Holdings Co Business Overview & Revenue Model

Company Description

China Resources Power Holdings Company Limited (stock code: 0836) is a leading energy company in China, primarily engaged in the generation and distribution of electricity. The company operates a diversified portfolio of power plants, including coal, gas, and renewable energy sources such as wind and solar power. With a focus on sustainable energy solutions, China Resources Power aims to enhance energy efficiency and reduce carbon emissions while meeting the growing energy demands of the nation.

How the Company Makes Money

China Resources Power generates revenue primarily through the sale of electricity generated from its power plants. The company operates under a regulated pricing framework, which allows it to earn stable returns on its investments. Key revenue streams include electricity sales to state-owned grid companies, capacity payments for maintaining available generation capacity, and ancillary services. Additionally, China Resources Power is involved in strategic partnerships and joint ventures that enhance its operational efficiency and expand its market reach. The company's commitment to renewable energy also positions it to benefit from government incentives and policies promoting clean energy development, contributing positively to its earnings.

China Resources Power Holdings Co Financial Statement Overview

Summary

China Resources Power Holdings exhibits solid profitability and stable growth, supported by strong margins and effective cost management. The balance sheet shows moderate leverage with a healthy return on equity, though leverage requires careful monitoring. Cash flow management reveals strong operating cash generation but highlights challenges due to high capital expenditure, which could impact future liquidity if not addressed.

Income Statement

The company exhibits a strong gross profit margin of 47.5% and a robust net profit margin of 13.7% for 2024, indicating efficient cost management and healthy profitability. Revenue growth from 2023 to 2024 was 1.9%, showing consistent top-line growth. Additionally, the EBIT and EBITDA margins of 22.1% and 37.0% respectively, reflect solid operating performance. There is a positive trajectory in revenue and profit growth over the past years.

Balance Sheet

The debt-to-equity ratio is 1.77, suggesting moderate leverage which is typical for the industry. The return on equity (ROE) is 13.1%, indicating effective utilization of equity capital. The equity ratio stands at 30.3%, reflecting a stable capital structure. While leverage is within acceptable limits, it poses a risk if not managed properly.

Cash Flow

The operating cash flow to net income ratio is 2.34, demonstrating strong cash earnings. However, free cash flow is negative, highlighting high capital expenditures which are common in this industry. The free cash flow to net income ratio is negative, signifying potential cash management challenges. Despite strong operating cash flows, negative free cash flow can be a concern if it persists.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	104.43B	105.28B	103.33B	103.31B	90.41B	69.55B
Gross Profit	52.03B	50.01B	45.34B	14.19B	7.12B	16.19B
EBITDA	39.09B	38.96B	34.39B	27.98B	20.71B	25.81B
Net Income	12.90B	14.39B	11.00B	7.04B	2.14B	7.58B
Balance Sheet
Total Assets	390.71B	362.46B	322.40B	283.39B	287.97B	259.63B
Cash, Cash Equivalents and Short-Term Investments	9.36B	5.83B	4.08B	7.72B	7.93B	5.04B
Total Debt	205.14B	194.16B	166.86B	139.59B	135.73B	109.29B
Total Liabilities	258.93B	242.51B	217.85B	193.50B	191.13B	164.51B
Stockholders Equity	120.55B	109.84B	84.97B	82.24B	88.99B	85.80B
Cash Flow
Free Cash Flow	-15.79B	-16.00B	-9.91B	-12.46B	-21.22B	-12.43B
Operating Cash Flow	37.44B	33.70B	28.87B	20.12B	4.47B	18.10B
Investing Cash Flow	-52.89B	-52.07B	-43.99B	-33.85B	-19.97B	-28.62B
Financing Cash Flow	16.96B	20.40B	11.83B	10.16B	14.73B	7.49B

China Resources Power Holdings Co Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.34
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0836, the sentiment is Negative. The current price of 18.34 is above the 20-day moving average (MA) of 18.28, below the 50-day MA of 18.51, and below the 200-day MA of 18.48, indicating a bearish trend. The MACD of -0.29 indicates Positive momentum. The RSI at 32.35 is Neutral, neither overbought nor oversold. The STOCH value of 7.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0836.

China Resources Power Holdings Co Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1071	73 Outperform	HK$64.10B	7.75	14.91%	5.67%	8.09%	24.77%
0836	73 Outperform	HK$91.27B	6.94	13.23%	5.96%	1.42%	-10.32%
0002	71 Outperform	HK$173.95B	15.24	10.96%	4.58%	2.02%	51.27%
0991	68 Neutral	HK$61.98B	8.21	20.65%	5.65%	-0.44%	333.39%
0916	67 Neutral	$106.71B	9.95	6.88%	5.40%	-9.28%	-7.71%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
0902	63 Neutral	$124.06B	9.89	8.00%	4.70%	-3.78%	34.93%

China Resources Power Holdings Co Corporate Events

China Resources Power Reports Mixed Generation Figures with Renewable Growth

In October 2025, China Resources Power Holdings Co reported a slight decrease of 0.4% in total net generation from its subsidiary power plants compared to the previous year, totaling 16,615,409 MWh. Despite this, the company saw significant growth in its renewable energy sector, with wind farms and photovoltaic power plants increasing their output by 0.1% and 39.4% respectively. Over the first ten months of 2025, the company’s net generation increased by 6.5%, driven by substantial growth in wind and photovoltaic power, which rose by 14.4% and 53.6% respectively, indicating a strong push towards renewable energy.

China Resources Power Reports Increased Profit Despite Revenue Dip

China Resources Power Holdings Company Limited announced the unaudited financial results of its wholly-owned subsidiary, China Resources Power Investment Company Limited, for the first nine months of 2025. The subsidiary reported a decrease in revenue but a notable increase in net profit compared to the same period in 2024. The financials indicate a strong performance in terms of profitability despite a decline in revenue, suggesting improved operational efficiency or cost management. Stakeholders are advised to exercise caution as these figures are unaudited and may not fully represent the group’s overall financial status.

China Resources Power Reports Mixed Generation Results Amid Renewable Growth

In September 2025, China Resources Power Holdings Co reported a decrease of 8.0% in total net generation from its subsidiary power plants, attributed to adverse weather conditions and maintenance activities. Despite this monthly decline, the company experienced a 4.2% increase in net generation for the first nine months of 2025, driven by substantial growth in its wind and photovoltaic power sectors, indicating a strategic shift towards renewable energy that could enhance its market positioning and appeal to environmentally conscious stakeholders.

China Resources Power Holdings Co Appoints New Executive Director

China Resources Power Holdings Co has announced the appointment of Mr. Liu Xiusheng as an executive director effective from September 12, 2025. Mr. Liu brings extensive experience in human resources and corporate management from his previous roles within the company and its subsidiaries. This appointment is expected to strengthen the company’s leadership team and potentially enhance its operational efficiency and strategic direction.

China Resources Power Announces New Board Composition

China Resources Power Holdings Co announced the composition of its board of directors and their roles, effective from September 12, 2025. This update in board membership and committee assignments is crucial for stakeholders as it may influence the company’s strategic direction and governance practices.

China Resources Power Sees Significant Growth in Renewable Energy Generation

In August 2025, China Resources Power Holdings reported an 8.9% year-on-year increase in net generation from its subsidiary power plants, reaching 20,733,389 MWh. Notably, subsidiary wind farms and photovoltaic power plants saw significant growth, with increases of 19.4% and 30.1% respectively. Over the first eight months of 2025, the company’s total net generation rose by 5.9% year-on-year, driven by a 13.2% increase in wind power and a 33.2% rise in photovoltaic power. These figures highlight the company’s successful expansion in renewable energy, potentially strengthening its market position and appealing to environmentally conscious stakeholders.