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Coal-fired power generator running plants across Jiangxi province, selling electricity to the provincial grid.
Coal-fired power generator running plants across Jiangxi province, selling electricity to the provincial grid.
Sells all its electricity to the provincial grid at tariffs set under government rules, so its profit is the gap between those tariffs and what it pays for coal, much of it brought in from outside the province. A provincial state-owned group controls it.
Moat: none. Regulated on-grid tariffs and coal-cost pass-through leave little pricing power.
Headquarters: Nanchang, Jiangxi, China · Employees: 1,039
Size Jiangxi Ganneng (000899.SZ) is a China Utilities company (Electric Utilities) with a market value of $1.26B, the 1899th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.58 on 6 Nov 2026.
Performance Over six months the shares fell 31.2%, against -13.1% for the median peer and -16.4% for the China market (cap-weighted) — 3rd lowest of 20 in its peer set.
Growth Revenue grew 23.5% over the last twelve months (peer median +0.2%); the operating margin is 12.6% (peer median 9.5%).
Valuation It trades at 7.4× forward earnings against a peer median of 13.4× (4th cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -4% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -27 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.8 points above its cost of capital (5.0% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥8.63B | CN¥7.38B | CN¥6.92B | CN¥7.08B | CN¥4.13B |
| Revenue growth | — | +7% | -2% | +72% | — |
| Gross profit | CN¥2.09B | CN¥1.52B | CN¥1.03B | CN¥811M | CN¥219M |
| EBITDA | n/a | CN¥1.96B | CN¥1.44B | CN¥1.19B | CN¥427M |
| Net income | CN¥543M | CN¥1.01B | CN¥714M | CN¥490M | CN¥10.6M |
| Free cash flow | CN¥1.40B | -CN¥1.78B | -CN¥2.47B | -CN¥1.54B | -CN¥1.49B |
| Capital expenditure | CN¥1.21B | CN¥3.97B | CN¥3.70B | CN¥2.63B | CN¥1.52B |
| Total debt | CN¥12.1B | CN¥12.1B | CN¥10.4B | CN¥7.30B | CN¥6.00B |
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.
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 | 000899.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.2% | -4.5% | 7th lowest of 21 |
| 6-month return | -31.2% | -13.1% | 3rd lowest of 20 |
| Distance from 52-week high | -46.9% | -29.2% | 3rd lowest of 21 |
| Revenue growth (TTM) | +23.5% | +0.2% | 3rd highest of 21 |
| Operating margin | 12.6% | 9.5% | 9th highest of 21 |
| Forward P/E | 7.4× | 13.4× | 4th cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -4.4% | 0.8% | 6th least demanding of 16 |
| Growth delivered (Del g) | +22.6% | +6.1% | 2nd highest of 16 |
| Hurdle (Req g minus delivered) | -27.0 pp | -5.4 pp | 2nd least demanding of 16 |
| ROIC minus cost of capital | +1.8 pp | +0.1 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangxi Ganneng 000899.SZ | China | $1.26B | -31% | +24% | 13% | 7.4× | -4.4% | +22.6% |
| Electricite de Strasbourg ELEC.PA | France | $1.29B | -34% | -10% | 8% | n/a | -10.7% | +11.1% |
| Guizhou Qianyuan Power 002039.SZ | China | $1.19B | -8% | +14% | 45% | 19.5× | -10.1% | +4.4% |
| Hunan Energy Group Development 000722.SZ | China | $1.19B | -13% | +126% | 48% | n/a | 0.8% | +2.4% |
| Hokuriku Electric Power 9505.T | Japan | $1.34B | +16% | -5% | 7% | 7.6× | 8.4% | +3.7% |
| naturenergie NEAG.SW | Switzerland | $1.17B | -12% | -16% | 13% | 12.1× | -15.5% | +5.6% |
| CGN New Energy 1811.HK | Hong Kong | $1.16B | -23% | -12% | 26% | 6.2× | 4.2% | +8.2% |
| Kasumigaseki Capital 3498.T | Japan | $1.16B | +15% | +70% | 17% | 7.6× | n/a | n/a |
| SG Mart SGMART.NS | India | $1.15B | +55% | +9% | 3% | 50.0× | 30.1% | +298.2% |
| Hokkaido Electric Power Company,Incorporated 9509.T | Japan | $1.38B | +5% | -1% | 4% | 7.3× | n/a | n/a |
| Xinjiang Tianfu Energy 600509.SS | China | $1.40B | -16% | +9% | 7% | 14.7× | -4.3% | +11.5% |
| Jinneng Holding Shanxi Electric Power 000767.SZ | China | $1.40B | -20% | -6% | 6% | n/a | 2.5% | +5.6% |
| Arendals Fossekompani AFK.OL | Norway | $1.11B | -2% | -7% | 11% | n/a | 14.4% | +3.6% |
| Hawaiian Electric Industries HE | United States | $1.45B | -43% | +2% | 11% | 5.2× | n/a | n/a |
| Vedanta Power VEDPOWER.NS | India | $1.46B | n/a | +5% | -13% | n/a | n/a | n/a |
| Unitil UTL | United States | $1.05B | +11% | +21% | 19% | 16.2× | n/a | n/a |
| Polenergia PEP.WA | Poland | $1.02B | +3% | -19% | 6% | 30.6× | 15.8% | +18.5% |
| Top Energy Co. Ltd. Shanxi 600780.SS | China | $1.02B | -13% | 0% | 5% | n/a | -15.1% | +10.2% |
| Harbin Hatou Investment 600864.SS | China | $1.56B | -18% | 0% | -17% | n/a | -17.2% | -3.8% |
| Jiangsu New Energy Development 603693.SS | China | $1.56B | -21% | -3% | 35% | 20.9× | 0.7% | +6.1% |
| Jaiprakash Power Ventures JPPOWER.NS | India | $1.01B | -29% | +6% | 21% | n/a | 9.9% | +11.0% |