CGN New Energy Holdings Co., Ltd. (1811) AI Stock Analysis

• Market Cap: HK$12.27B
• Dividend Yield: 3.94%
• Average Volume (3M): 17.84M
• Price to Earnings (P/E): 6.9
• Beta (1Y): 0.78
• Revenue Growth: -6.80%
• EPS Growth: -10.25%
• Country: HK
• Employees: 2,409
• Sector: Utilities
• Sector Strength: 65
• Industry: Independent Power Producers
• EPS (TTM): 0.30
• Shares Outstanding: 4,289,924,000
• 10 Day Avg. Volume: 17,729,500
• 30 Day Avg. Volume: 17,837,535
• PEG Ratio: -0.72
• Price to Book (P/B): 0.82
• Price to Sales (P/S): 0.68
• P/FCF Ratio: -3.11
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 69 Neutral
• Price Target: HK$3.00 ▲(6.76% Upside)

The overall stock score of 69 reflects a balance between strong valuation metrics and technical indicators, offset by financial performance concerns, particularly high leverage and negative free cash flow. The stock's undervaluation and positive price trends are significant strengths, while financial risks require careful monitoring.

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, cogen, and fuel cell projects, as well as a steam project. It also engages in the construction and operation of power stations and other associated facilities. In addition, the company provides management services to power plants; and invests in dam and other associated facilities. The company was formerly known as CGN Meiya Power Holdings Co., Ltd. and changed its name to CGN New Energy Holdings Co., Ltd. in November 2015. CGN New Energy Holdings Co., Ltd. was incorporated in 1995 and is headquartered in Wanchai, Hong Kong. CGN New Energy Holdings Co., Ltd. is a subsidiary of CGN Energy International Holdings Co., Limited.

How the Company Makes Money

CGN New Energy Holdings Co., Ltd. generates revenue primarily through the sale of electricity generated from its diverse energy portfolio. The company operates wind farms, solar power plants, and gas-fired power stations, selling the produced electricity to power grids, utility companies, and other large-scale energy consumers. Additionally, the company may benefit from government subsidies and incentives aimed at promoting renewable energy. Its revenue model is bolstered by strategic partnerships and joint ventures that enhance its operational capabilities and expand its market reach, thereby contributing to its financial performance.

CGN New Energy Holdings Co., Ltd. Financial Statement Overview

Summary

CGN New Energy Holdings shows strong profitability margins but faces challenges with declining revenue growth and high leverage. The negative free cash flow and high debt-to-equity ratio raise concerns about financial flexibility and risk management.

Income Statement

The company has shown a declining revenue trend over the years, with a revenue decrease of 10.99% from 2023 to 2024. The gross profit margin for 2024 was approximately 59.73% and the net profit margin was around 12.71%, indicating healthy profitability. However, EBIT and EBITDA margins have slightly decreased, suggesting rising operational costs or reduced efficiencies.

Balance Sheet

CGN New Energy Holdings has a high debt-to-equity ratio of approximately 3.94 in 2024, indicating significant leverage which could pose financial risks. The return on equity was 15.33%, showing decent profitability relative to shareholder equity. The equity ratio was around 18.56%, suggesting moderate financial stability.

Cash Flow

The company experienced negative free cash flow in 2024, indicating that capital expenditures exceeded operating cash flow, which may be a concern for liquidity. The operating cash flow to net income ratio was approximately 2.03, suggesting adequate cash generation relative to net income, although free cash flow to net income ratio was negative, highlighting cash flow challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.83B	1.95B	2.19B	2.43B	1.78B	1.15B
Gross Profit	1.13B	1.17B	1.17B	1.14B	948.62M	623.11M
EBITDA	823.27M	872.07M	896.23M	925.62M	745.94M	480.50M
Net Income	228.09M	248.02M	267.69M	195.15M	244.27M	162.09M
Balance Sheet
Total Assets	9.12B	8.72B	8.35B	8.34B	8.73B	6.98B
Cash, Cash Equivalents and Short-Term Investments	219.06M	158.38M	301.67M	455.00M	378.14M	398.85M
Total Debt	6.67B	6.37B	5.91B	5.93B	6.30B	5.11B
Total Liabilities	7.21B	6.96B	6.66B	6.84B	7.24B	5.68B
Stockholders Equity	1.77B	1.62B	1.54B	1.36B	1.37B	1.21B
Cash Flow
Free Cash Flow	-355.04M	-423.80M	36.92M	279.61M	-913.12M	-1.13B
Operating Cash Flow	544.98M	502.63M	681.55M	642.38M	346.64M	256.88M
Investing Cash Flow	-933.62M	-934.73M	-611.18M	-373.16M	-1.28B	-1.27B
Financing Cash Flow	471.52M	297.02M	-212.55M	-173.38M	906.39M	1.00B

CGN New Energy Holdings Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.81
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1811, the sentiment is Neutral. The current price of 2.81 is below the 20-day moving average (MA) of 2.90, above the 50-day MA of 2.69, and above the 200-day MA of 2.39, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 48.61 is Neutral, neither overbought nor oversold. The STOCH value of 13.89 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1811.

CGN New Energy Holdings Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1816	73 Outperform	HK$206.86B	15.32	8.16%	3.24%	4.57%	-11.50%
0836	73 Outperform	$93.55B	7.11	13.23%	5.71%	1.42%	-10.32%
2380	72 Outperform	$41.32B	11.45	7.09%	6.83%	4.20%	-5.31%
1811	69 Neutral	HK$12.27B	6.90	13.41%	3.94%	-6.80%	-10.25%
0916	67 Neutral	$123.42B	10.50	8.01%	3.31%	-8.46%	13.82%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
1798	63 Neutral	€18.98B	9.40	9.90%	5.34%	2.47%	-6.46%

CGN New Energy Holdings Co., Ltd. Corporate Events

Leadership Change at CGN New Energy Holdings

CGN New Energy Holdings Co., Ltd. announced the resignation of Mr. Li Guangming from his roles as President and Executive Director due to personal commitments, effective October 21, 2025. The Chairman, Mr. Zhang Zhiwu, will temporarily assume the President’s duties until a successor is appointed, ensuring continuity in leadership during this transition.

The most recent analyst rating on (HK:1811) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on CGN New Energy Holdings Co., Ltd. stock, see the HK:1811 Stock Forecast page.

CGN New Energy Holdings Announces Board Roles and Functions

CGN New Energy Holdings Co., Ltd. has announced the roles and functions of its board of directors and their respective committee memberships. This announcement provides clarity on the leadership structure, which is crucial for stakeholders to understand the company’s governance and strategic direction.

The most recent analyst rating on (HK:1811) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on CGN New Energy Holdings Co., Ltd. stock, see the HK:1811 Stock Forecast page.

CGN New Energy Reports Mixed Power Generation Results for September 2025

CGN New Energy Holdings Co., Ltd. reported a 14.9% decrease in power generation for September 2025 compared to the same period in 2024, with significant declines in wind projects due to lower wind speeds. However, solar and gas-fired projects saw substantial increases in output, driven by capacity expansion and higher dispatch loads, respectively. The overall power generation for the first nine months of 2025 also saw a slight decline of 3.0%, reflecting mixed performance across different energy sources.

The most recent analyst rating on (HK:1811) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on CGN New Energy Holdings Co., Ltd. stock, see the HK:1811 Stock Forecast page.

CGN New Energy Reports Mixed Power Generation Results for August 2025

CGN New Energy Holdings Co., Ltd. reported a 5.7% decrease in power generation for August 2025 compared to the previous year, with significant growth in solar and wind projects in China, but a notable decline in Korean projects. The overall power generation for the first eight months of 2025 also saw a slight decrease of 1.6%, reflecting mixed performance across different energy sources and regions, impacting the company’s operational dynamics and market positioning.

The most recent analyst rating on (HK:1811) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on CGN New Energy Holdings Co., Ltd. stock, see the HK:1811 Stock Forecast page.

CGN New Energy Reports Decline in H1 2025 Revenue and Profit

CGN New Energy Holdings Co., Ltd. reported a 12.8% decrease in revenue to US$856.5 million for the first half of 2025, compared to the same period in 2024. The decline in profit, which fell by 10.9% to US$163.5 million, was mainly due to reduced tariffs and power generation from Korean projects and lower tariffs from PRC solar projects. The company decided not to declare an interim dividend for this period, reflecting the financial challenges faced.

CGN New Energy Reports Mixed Power Generation Results for July 2025

CGN New Energy Holdings Co., Ltd. reported a slight decrease in overall power generation for July 2025, with a total of 1,731.3 GWh, a 1.7% decline from the previous year. While solar and gas-fired projects in the PRC showed significant increases of 60.3% and 51.6% respectively, wind projects saw an 8.1% decrease, and Korea projects experienced a 15.5% drop. The accumulated power generation for the first seven months of 2025 also showed a marginal decline of 1.0% compared to the same period in 2024, highlighting a mixed performance across different energy sectors.

CGN New Energy Holdings Schedules Board Meeting for Interim Results

CGN New Energy Holdings Co., Ltd. has announced a board meeting scheduled for August 19, 2025, to discuss and approve the interim results for the first half of the year and to consider the payment of an interim dividend. This meeting is significant as it will provide insights into the company’s financial performance and potential returns to shareholders, reflecting its operational strategy and market positioning.

CGN New Energy Adjusts EPC Contract with Hydro Electric

CGN New Energy Holdings Co., Ltd. announced a Variation Agreement to its existing EPC Contract with Hydro Electric, increasing the total consideration by approximately RMB34.55 million to RMB342.03 million. This adjustment accounts for increased construction and installation fees, equipment costs, and a Covid-19 surcharge, while Hydro Electric will cover additional energy consumables costs during trial operations. The transaction does not constitute a notifiable transaction under the Listing Rules due to its percentage ratio.