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Gansu state-owned power generator running hydro, wind, solar and coal-fired plants, selling electricity to the Gansu grid.
Gansu state-owned power generator running hydro, wind, solar and coal-fired plants, selling electricity to the Gansu grid.
Sells electricity to the Gansu grid under tariffs set largely by the government, so profit tracks tariff levels, output volumes and the cost of coal burned at its thermal plants. Hydro, wind and solar add a growing renewable share, with new desert wind-solar bases adding capacity.
Moat: narrow (regulatory licence, installed base). Grid-connected generation licences and installed capacity in Gansu, backed by provincial state ownership.
Headquarters: Lanzhou, China · Founded: 1997 · Employees: 2,261
Size GEPIC Energy Development (000791.SZ) is a China Utilities company (Electric Utilities) with a market value of $3.23B, the 800th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥6.63 on 6 Nov 2026.
Performance Over six months the shares fell 17.7%, against -9.7% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 30.4% over the last twelve months (peer median +0.6%); the operating margin is 39.6% (peer median 9.7%).
Valuation It trades at 10.2× forward earnings against a peer median of 12.6× (8th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +32%, so the hurdle is -40 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 29 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.08B | CN¥9.05B | CN¥8.63B | CN¥6.92B | CN¥2.01B |
| Revenue growth | — | +5% | +25% | +244% | — |
| Gross profit | CN¥4.93B | CN¥3.76B | CN¥3.04B | CN¥2.32B | CN¥694M |
| EBITDA | n/a | CN¥5.16B | CN¥4.46B | CN¥3.38B | CN¥1.44B |
| Net income | CN¥1.90B | CN¥2.05B | CN¥1.64B | CN¥1.17B | CN¥302M |
| Free cash flow | CN¥628M | CN¥1.53B | CN¥445M | -CN¥386M | -CN¥869M |
| Capital expenditure | CN¥3.22B | CN¥3.75B | CN¥3.52B | CN¥3.84B | CN¥2.27B |
| Total debt | CN¥18.9B | CN¥18.2B | CN¥17.3B | CN¥17.6B | CN¥11.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| GEPIC Energy Development 000791.SZ | $3.23B | -18% | -30% | 40% | 10.2× | -7.8% |
| China Yangtze Power 600900.SS | $110B | +9% | 0% | 51% | 21.2× | 1.5% |
| Huaneng Power International 600011.SS | $16.4B | +9% | -5% | 9% | 13.5× | -2.1% |
| SDIC Power 600886.SS | $19.0B | +16% | -3% | 32% | 17.5× | -1.6% |
| Sichuan Chuantou Energy 600674.SS | $13.0B | +16% | -1% | 29% | 17.2× | 32.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 000791.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.2% | -2.5% | 4th lowest of 21 |
| 6-month return | -17.7% | -9.7% | 9th lowest of 21 |
| Distance from 52-week high | -39.2% | -25.5% | 8th lowest of 21 |
| Revenue growth (TTM) | -30.4% | +0.6% | lowest of 21 |
| Operating margin | 39.6% | 9.7% | highest of 19 |
| Forward P/E | 10.2× | 12.6× | 8th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -7.8% | 5.5% | least demanding of 12 |
| Growth delivered (Del g) | +32.3% | +9.9% | highest of 12 |
| Hurdle (Req g minus delivered) | -40.1 pp | -5.0 pp | least demanding of 12 |
| ROIC minus cost of capital | +4.5 pp | -1.2 pp | 2nd highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| GEPIC Energy Development 000791.SZ | China | $3.23B | -18% | -30% | 40% | 10.2× | -7.8% | +32.3% |
| GCL Energy Technology 002015.SZ | China | $3.27B | -24% | -3% | 15% | 21.5× | n/a | n/a |
| Otter Tail OTTR | United States | $3.29B | -11% | +1% | 23% | 14.6× | n/a | n/a |
| Avista AVA | United States | $3.37B | -1% | -1% | 19% | 15.0× | n/a | n/a |
| MGE Energy MGEE | United States | $3.03B | +9% | +8% | 23% | 19.0× | n/a | n/a |
| CECEP Wind-Power 601016.SS | China | $3.00B | -28% | -8% | 24% | 30.7× | 2.0% | +11.0% |
| Kenon KEN | United States | $2.99B | -35% | +53% | 8% | n/a | n/a | n/a |
| NLC India NLCINDIA.NS | India | $3.50B | -28% | +17% | 18% | 9.9× | n/a | n/a |
| Iren IRE.MI | Italy | $3.54B | -9% | -8% | 9% | 10.6× | 5.5% | +12.0% |
| Guangzhou Development 600098.SS | China | $3.56B | -3% | +4% | 4% | 14.9× | -1.0% | +9.9% |
| China Southern Power Grid Energy Efficiency & Clean Energy 003035.SZ | China | $2.89B | -31% | +10% | 18% | 39.1× | 11.6% | +12.9% |
| Guangdong Electric Power Development 000539.SZ | China | $3.64B | -21% | +8% | -1% | n/a | 9.8% | +8.9% |
| Enea ENA.WA | Poland | $2.80B | -3% | -11% | n/a | 4.4× | -7.7% | +9.1% |
| Pampa Energia SA Sponsored ADR PAM | United States | $3.78B | -19% | +29% | 21% | 7.4× | n/a | n/a |
| Drax DRX.L | United Kingdom | $3.88B | 0% | -8% | 9% | 10.4× | -0.2% | +4.8% |
| Tohoku Electric Power 9506.T | Japan | $3.89B | +13% | +17% | 3% | 4.9× | n/a | n/a |
| TAURON Polska Energia TPE.WA | Poland | $4.02B | -6% | 0% | n/a | 6.1× | 17.0% | +10.4% |
| State Grid Information & Communication 600131.SS | China | $2.55B | -17% | +13% | 6% | 21.2× | 7.0% | +8.7% |
| An Hui Wenergy 000543.SZ | China | $2.52B | -8% | -18% | 11% | 9.2× | 1.3% | +10.4% |
| TransAlta TA.TO | Canada | $4.15B | +5% | -12% | 8% | 49.9× | 21.9% | +4.1% |
| Tokyo Elec Power Co Hldgs 9501.T | Japan | $4.17B | -31% | -2% | 1% | 3.7× | n/a | n/a |