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Coal-fired power generation company controlled by Hebei Construction Investment Group, running plants across Hebei province.
Coal-fired power generation company controlled by Hebei Construction Investment Group, running plants across Hebei province.
Sells power to the Hebei grid at prices set by provincial rules and market trading, and buys coal at market or contract prices, so profit is the spread between the two and swings when coal prices move. The grid dispatches its plants, so hours run matter as much as capacity.
Moat: none (scale). Regulated on-grid tariffs and coal-cost pass-through limit pricing power.
Headquarters: Shijiazhuang, Hebei, China · Employees: 5,879
Size HCIG Energy Investment (000600.SZ) is a China Utilities company (Electric Utilities) with a market value of $2.01B, the 1256th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.58 on 6 Nov 2026.
Performance Over six months the shares fell 30.9%, against -16.8% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 11.8% over the last twelve months (peer median +0.1%); the operating margin is 9.0% (peer median 9.2%).
Valuation It trades at 11.1× forward earnings against a peer median of 14.8× (7th cheapest of 16).
Capital Return on invested capital runs 0.2 points above its cost of capital (5.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥21.3B | CN¥22.7B | CN¥23.3B | CN¥19.5B | CN¥18.3B |
| Revenue growth | — | -3% | +20% | +6% | — |
| Gross profit | CN¥6.05B | CN¥5.88B | CN¥3.30B | CN¥2.13B | CN¥1.83B |
| EBITDA | n/a | CN¥5.30B | CN¥2.99B | CN¥2.00B | CN¥1.87B |
| Net income | CN¥996M | CN¥1.88B | CN¥531M | CN¥189M | CN¥106M |
| Free cash flow | -CN¥1.35B | CN¥1.29B | CN¥805M | -CN¥620M | CN¥578M |
| Capital expenditure | CN¥5.98B | CN¥4.27B | CN¥3.27B | CN¥3.02B | CN¥1.47B |
| Total debt | CN¥27.9B | CN¥25.5B | CN¥23.5B | CN¥23.9B | CN¥19.3B |
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| Measure | 000600.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.4% | -2.7% | 4th lowest of 21 |
| 6-month return | -30.9% | -16.8% | 4th lowest of 21 |
| Distance from 52-week high | -49.7% | -35.6% | 3rd lowest of 21 |
| Revenue growth (TTM) | -11.8% | +0.1% | 2nd lowest of 21 |
| Operating margin | 9.0% | 9.2% | 11th highest of 21 |
| Forward P/E | 11.1× | 14.8× | 7th cheapest of 16 |
| ROIC minus cost of capital | +0.2 pp | -0.9 pp | 8th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HCIG Energy Investment 000600.SZ | China | $2.01B | -31% | -12% | 9% | 11.1× | n/a | n/a |
| Chongqing Fuling Electric Power Industrial 600452.SS | China | $2.00B | -25% | -7% | 17% | 22.9× | 3.6% | +2.4% |
| CHN Energy Changyuan Electric Power 000966.SZ | China | $1.99B | -16% | -9% | 1% | 22.4× | 6.6% | +6.2% |
| Henan Yuneng 001896.SZ | China | $2.14B | -39% | -6% | 5% | n/a | n/a | n/a |
| Guangdong Baolihua New Energy Stock 000690.SZ | China | $1.87B | +9% | +1% | 14% | 11.1× | -11.6% | +3.9% |
| Datang Huayin Electric Power 600744.SS | China | $1.83B | -30% | -10% | 6% | n/a | n/a | n/a |
| Huadian Liaoning Energy Development 600396.SS | China | $2.23B | +2% | 0% | 8% | n/a | n/a | n/a |
| MVV Energie MVV1.DE | Germany | $2.23B | +1% | -8% | 4% | n/a | n/a | n/a |
| CESC CESC.NS | India | $1.77B | -32% | +9% | 12% | 9.9× | n/a | n/a |
| Beijing Jingneng Clean Energy 0579.HK | Hong Kong | $1.74B | -27% | -1% | 18% | 4.7× | -1.0% | +3.5% |
| Shikoku Electric Power 9507.T | Japan | $2.33B | +24% | -3% | 6% | 9.8× | n/a | n/a |
| Chongqing Three Gorges Water Conservancy and Electric Power 600116.SS | China | $1.73B | -8% | +4% | 6% | 18.8× | -2.5% | +14.1% |
| SPIC Green Energy 000875.SZ | China | $2.34B | -34% | -4% | 16% | 35.0× | -0.2% | +5.6% |
| SJVN SJVN.NS | India | $2.38B | -28% | +99% | 48% | 15.9× | n/a | n/a |
| Romande Energie REHN.SW | Switzerland | $1.68B | -1% | +2% | 8% | 15.1× | 7.4% | +7.2% |
| Chugoku Electric Power 9504.T | Japan | $2.41B | +18% | 0% | 0% | 9.3× | n/a | n/a |
| Central Puerto SA Sponsored ADR CEPU | United States | $1.64B | -29% | +51% | 29% | 5.0× | -5.0% | +10.3% |
| Dynagreen Environmental Protection 601330.SS | China | $1.63B | -4% | +11% | 31% | 14.8× | -3.5% | +9.2% |
| An Hui Wenergy 000543.SZ | China | $2.52B | -8% | -18% | 11% | 9.2× | 1.3% | +10.4% |
| Nava NAVA.NS | India | $1.59B | -26% | +9% | 29% | n/a | 19.8% | +11.0% |
| State Grid Information & Communication 600131.SS | China | $2.55B | -17% | +13% | 6% | 21.2× | 7.0% | +8.7% |