CGN New Energy Holdings Co., Ltd. (HK:1811)
:1811
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CGN New Energy Holdings Co., Ltd.
(1811)
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Rating:59Neutral
Price Target:
HK$2.50
▼(-1.19% Downside)
Action:Reiterated
Date:05/01/26
The score is supported primarily by very attractive valuation (low P/E and decent dividend yield). This is tempered by weaker fundamentals driven by high leverage and persistently negative free cash flow, and by soft technicals with the stock trading below key moving averages and negative MACD.
Positive Factors
High profitability margins
Sustained high EBITDA and mid-teens net margins reflect operational scale and cost efficiency in asset operations. For a capital-intensive renewable IPP, durable margin advantages support internal cash generation potential and resilience to moderate revenue volatility over months.
Negative Factors
High leverage
A debt-to-equity ratio around 3.5x denotes substantial reliance on external financing. This structural leverage increases interest expense and refinancing risk, limiting flexibility to withstand revenue or cash flow shocks in the medium term and constraining strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
High profitability margins
Sustained high EBITDA and mid-teens net margins reflect operational scale and cost efficiency in asset operations. For a capital-intensive renewable IPP, durable margin advantages support internal cash generation potential and resilience to moderate revenue volatility over months.
Read all positive factors
CGN New Energy Holdings Co., Ltd. (1811) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$11.67B
Dividend Yield4.29%
Average Volume (3M)17.84M
Price to Earnings (P/E)3.0
Beta (1Y)0.73
Revenue Growth-13.33%
EPS Growth11.03%
CountryHK
Employees2,409
SectorUtilities
Sector Strength65
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)0.07
Shares Outstanding4,289,924,000
10 Day Avg. Volume17,729,500
30 Day Avg. Volume17,837,535
Financial Highlights & Ratios
PEG Ratio0.45
Price to Book (P/B)0.73
Price to Sales (P/S)0.81
P/FCF Ratio-12.44
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)0.06
Revenue Forecast (FY)HK$2.01B
CGN New Energy Holdings Co., Ltd. Business Overview & Revenue Model
Company Description
CGN New Energy Holdings Co., Ltd., together with its subsidiaries, generates and supplies electricity and steam in the People's Republic of China and Republic of Korea. The company operates wind, solar, gas-fired, coal-fired, oil-fired, hydro, cog...
How the Company Makes Money
CGN New Energy generally makes money by developing, owning and operating power generation assets and selling the electricity they produce. Its key revenue streams typically include: (1) Electricity sales: revenue from delivering generated power fr...
CGN New Energy Holdings Co., Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
46
Neutral
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.70B | 1.95B | 2.19B | 2.43B | 1.78B |
| Gross Profit | 668.72M | 1.17B | 1.17B | 1.14B | 948.62M |
| EBITDA | 852.94M | 872.07M | 896.23M | 925.62M | 745.94M |
| Net Income | 276.28M | 248.02M | 267.69M | 195.15M | 244.27M |
Balance Sheet | |||||
| Total Assets | 9.09B | 8.72B | 8.35B | 8.34B | 8.73B |
| Cash, Cash Equivalents and Short-Term Investments | 233.10M | 158.38M | 301.67M | 455.00M | 378.14M |
| Total Debt | 6.55B | 6.37B | 5.91B | 5.93B | 6.30B |
| Total Liabilities | 7.06B | 6.96B | 6.66B | 6.84B | 7.24B |
| Stockholders Equity | 1.87B | 1.62B | 1.54B | 1.36B | 1.37B |
Cash Flow | |||||
| Free Cash Flow | -110.32M | -423.80M | 36.92M | 279.61M | -913.12M |
| Operating Cash Flow | 641.23M | 502.63M | 681.55M | 642.38M | 346.64M |
| Investing Cash Flow | -697.37M | -934.73M | -611.18M | -373.16M | -1.28B |
| Financing Cash Flow | -49.55M | 297.02M | -212.55M | -173.38M | 906.39M |
CGN New Energy Holdings Co., Ltd. Technical Analysis
Negative
2.53
Price Trends
2.71
Negative
2.66
Positive
2.67
Positive
Market Momentum
0.02
Positive
46.32
Neutral
35.39
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1811, the sentiment is Negative. The current price of 2.53 is below the 20-day moving average (MA) of 2.71, below the 50-day MA of 2.71, and below the 200-day MA of 2.67, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 46.32 is Neutral, neither overbought nor oversold. The STOCH value of 35.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1811.
CGN New Energy Holdings Co., Ltd. Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
59 Neutral | HK$11.67B | 3.05 | 15.18% | 4.29% | -13.33% | 11.03% | |
58 Neutral | HK$121.79B | 8.07 | 5.62% | 5.33% | -13.95% | -25.30% | |
54 Neutral | HK$30.61B | 5.45 | 6.69% | 5.67% | -7.11% | -12.90% | |
52 Neutral | HK$12.22B | 8.62 | 5.97% | 6.26% | -0.05% | -37.87% | |
46 Neutral | HK$121.98M | -0.09 | ― | ― | -21.67% | -18.64% | |
40 Underperform | HK$1.60B | -0.32 | -35.49% | ― | -4.27% | -174.28% |
* Utilities Sector Average
HK:1811
CGN New Energy Holdings Co., Ltd.
2.67
0.41
18.14%
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China Longyuan Power Group
6.38
0.18
2.97%
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Shunfeng International Clean Energy
0.02
<0.01
41.18%
HK:0451
GCL New Energy Holdings
0.87
0.54
163.64%
HK:1798
China Datang Corp. Renewable Power Co. Ltd. Class H
1.66
-0.53
-24.27%
HK:0956
China Suntien Green Energy Corporation Limited Class H
3.46
-0.57
-14.14%
CGN New Energy Holdings Co., Ltd. Corporate Events
CGN New Energy Sets 2026 AGM, Seeks 10% Share Buyback Mandate
Apr 29, 2026
CGN New Energy Holdings has convened its annual general meeting for 28 May 2026 in Hong Kong, where shareholders will review the audited consolidated financial statements, directors’ report and independent auditor’s report for the year...
CGN New Energy’s March Output Slips as China Wind Weakens, Solar and Korea Projects Surge
Apr 13, 2026
CGN New Energy reported consolidated power generation of 1,663.9 GWh for March 2026, down 5.7% year on year, as lower wind speeds in China and weaker water inflows at its Guangxi hydro project weighed on output. These declines were partially offse...
CGN New Energy Lifts 2025 Profit and Dividend Despite Revenue Decline
Mar 31, 2026
CGN New Energy Holdings reported 2025 revenue of US$1.69 billion, down 13.2% year on year, reflecting lower operating income despite a broad mix of fuel sources and generation assets. The company continues to manage sizeable operating expenses acr...
CGN New Energy Declares Final Dividend for 2025 Financial Year
Mar 31, 2026
CGN New Energy Holdings has declared a final ordinary dividend of USD 0.0161 per share for the financial year ended 31 December 2025, equivalent to HKD 0.1254 per share based on an exchange rate of USD 1 to HKD 7.7888, subject to shareholder appro...
CGN New Energy Sets March Board Meeting to Approve 2025 Results and Consider Dividend
Mar 16, 2026
CGN New Energy Holdings Co., Ltd. has scheduled a board meeting for 31 March 2026 to review and approve the consolidated financial results for the year ended 31 December 2025. At the same meeting, the board will also consider whether to recommend ...
CGN New Energy Posts Modest Output Growth on Rising Solar and Gas Generation
Mar 10, 2026
CGN New Energy reported that its consolidated power generation in February 2026 slipped 1.7% year on year to 1,452.8 GWh, as weaker output from mainland China wind and hydro projects and from Korean assets outweighed a notable rise in solar genera...
CGN New Energy installs new chairman as Zhang Zhiwu steps down
Mar 6, 2026
CGN New Energy Holdings announced a leadership reshuffle effective 6 March 2026, with chairman and executive director Zhang Zhiwu resigning from his roles, including as head of the nomination committee and president, due to job arrangements. Zhang...
CGN New Energy Clarifies Board and Committee Roles in Governance Update
Mar 6, 2026
CGN New Energy Holdings has announced an updated list of its board directors and clarified their respective roles across key governance committees. The disclosure details the composition of the Audit, Remuneration, Nomination, and Investment and R...
CGN New Energy Lifts January Power Output on Solar and Gas Surge
Feb 13, 2026
CGN New Energy reported consolidated power generation of 1,647.8 GWh for January 2026, a 7.9% increase from a year earlier, driven by substantial growth in solar, gas-fired and Korean projects despite a decline in wind output and the cessation of ...
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.