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One of China's 'big five' state-owned power generators, operating coal, gas, hydro and renewable plants.
One of China's 'big five' state-owned power generators, operating coal, gas, hydro and renewable plants.
Same company as the Shanghai-listed A shares; this is the Hong Kong-listed class H. Sells electricity to grid companies at tariffs set or guided by the provinces, with coal plants the base and hydro, wind and solar added. Controlled by the state-owned China Datang Corporation.
In one line: A Chinese power genco akin to a state-backed Duke Energy generation arm.
Moat: narrow (scale, installed base, regulatory licence). State-backed parent group and large installed base support financing and project approvals.
Headquarters: Beijing, China · Founded: 1994 · Employees: 27,149
Size Datang International Power Generation (0991.HK) is a Hong Kong Utilities company (Electric Utilities) with a market value of $10.7B, the 161st largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.53 on 6 Nov 2026.
Performance Over six months the shares fell 19.7%, against -2.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 3.2% over the last twelve months (peer median +7.2%); the operating margin is 14.6% (peer median 14.0%).
Valuation It trades at 5.5× forward earnings against a peer median of 17.3× (cheapest of 19).
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 +4%, so the hurdle is -0 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.6 points below its cost of capital (5.3% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$135B | HK$130B | HK$132B | HK$134B | HK$134B |
| Revenue growth | — | -2% | -1% | 0% | — |
| Gross profit | HK$33.2B | HK$32.4B | HK$27.3B | HK$21.9B | HK$16.9B |
| EBITDA | HK$37.9B | HK$35.7B | HK$29.6B | HK$25.6B | HK$19.5B |
| Net income | HK$8.07B | HK$6.50B | HK$3.30B | -HK$232M | -HK$1.98B |
| Free cash flow | HK$4.96B | HK$5.63B | -HK$9.01B | HK$943M | -HK$8.83B |
| Capital expenditure | HK$32.6B | HK$30.9B | HK$33.2B | HK$22.8B | HK$24.3B |
| Total debt | n/a | HK$274B | HK$256B | HK$250B | HK$255B |
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 |
|---|---|---|---|---|---|---|
| Datang International Power Generation 0991.HK | $10.7B | -20% | +3% | 15% | 5.5× | 4.0% |
| Huaneng Power International 0902.HK | $16.2B | -6% | -3% | 12% | 9.3× | n/a |
| China Res Power 0836.HK | $13.5B | +6% | +2% | 18% | 9.0× | n/a |
| Huadian Power International 1071.HK | $8.73B | 0% | +13% | 8% | 9.6× | n/a |
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 | 0991.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.0% | +3.1% | 5th lowest of 21 |
| 6-month return | -19.7% | -2.5% | 3rd lowest of 21 |
| Distance from 52-week high | -29.9% | -14.8% | 2nd lowest of 21 |
| Revenue growth (TTM) | +3.2% | +7.2% | 7th lowest of 21 |
| Operating margin | 14.6% | 14.0% | 11th highest of 21 |
| Forward P/E | 5.5× | 17.3× | cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 4.0% | 6.9% | 4th least demanding of 9 |
| Growth delivered (Del g) | +4.1% | +9.0% | 3rd lowest of 9 |
| Hurdle (Req g minus delivered) | -0.1 pp | -1.4 pp | 4th most demanding of 9 |
| ROIC minus cost of capital | -0.6 pp | -1.9 pp | 8th highest of 20 |
| EV / EBITDA | 9.9× | 12.0× | 5th cheapest of 15 |
| Net debt / EBITDA | 7.1× | 5.4× | 4th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Datang International Power Generation 0991.HK | Hong Kong | $10.7B | -20% | +3% | 15% | 5.5× | 4.0% | +4.1% |
| Guangxi Guiguan Electric Power 600236.SS | China | $10.7B | -10% | +26% | 48% | 20.7× | -2.8% | +3.0% |
| AES AES | United States | $10.6B | +4% | +12% | 20% | 6.8× | n/a | n/a |
| Zhejiang Zheneng Electric Power 600023.SS | China | $10.8B | -5% | -7% | -1% | 17.4× | 7.0% | +9.0% |
| OGE Energy OGE | United States | $10.5B | +7% | +2% | 26% | 21.6× | 8.1% | +9.0% |
| Jiangsu Eastern Shenghong 000301.SZ | China | $10.3B | -22% | +4% | 7% | 12.4× | -2.1% | +28.4% |
| Chubu Electric Power 9502.T | Japan | $11.2B | -13% | +3% | 0% | 10.3× | n/a | n/a |
| JSW Energy JSWENERGY.NS | India | $10.1B | -9% | +26% | 36% | 39.7× | n/a | n/a |
| Hikari Tsushin 9435.T | Japan | $10.0B | -5% | +7% | 15% | 12.5× | 6.7% | +5.6% |
| Edison EDNR.MI | Italy | $9.87B | -12% | +6% | 3% | n/a | n/a | n/a |
| Tata Power TATAPOWER.NS | India | $11.9B | -20% | -4% | 13% | 25.0× | n/a | n/a |
| Redeia Corporacion RED.MC | Spain | $9.47B | +8% | +15% | 43% | 16.7× | n/a | n/a |
| Brookfield Renewable Partners LP BEP-UN.TO | Canada | $9.41B | -7% | +7% | 11% | n/a | n/a | n/a |
| Pinnacle West Capital PNW | United States | $12.6B | +5% | +8% | 23% | 19.1× | n/a | n/a |
| PGE Polska Grupa Energetyczna PGE.WA | Poland | $9.02B | +47% | -2% | 12% | 5.5× | n/a | n/a |
| Keppel BN4.SI | Singapore | $13.0B | -13% | +11% | 11% | 18.9× | 14.8% | -1.9% |
| Sichuan Chuantou Energy 600674.SS | China | $13.0B | +16% | -1% | 29% | 17.2× | 32.3% | +10.0% |
| Huadian Power International 1071.HK | Hong Kong | $8.73B | 0% | +13% | 8% | 9.6× | n/a | n/a |
| NHPC NHPC.NS | India | $8.72B | +1% | +12% | 30% | 19.4× | n/a | n/a |
| IDACORP IDA | United States | $8.63B | +2% | +4% | 23% | 21.7× | n/a | n/a |
| A2A A2A.MI | Italy | $8.55B | +4% | +14% | 8% | 11.9× | 2.8% | +15.6% |