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Renewable energy subsidiary of China General Nuclear Power Group, developing and operating wind and solar power plants.
Renewable energy subsidiary of China General Nuclear Power Group, developing and operating wind and solar power plants.
Sells wind and solar electricity to the grid, with tariffs set under government policy and part of the income historically paid as subsidy that can arrive late, so cash collection matters as much as output. Its parent CGN, the nuclear-power group, provides funding and project leads.
Moat: narrow (regulatory licence, scale). Backed by state-owned CGN's capital and project pipeline in China's renewables build-out.
Headquarters: Beijing, China · Employees: 2,395
Size CGN New Energy (1811.HK) is a Hong Kong Utilities company (Electric Utilities) with a market value of $1.16B, the 563rd largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.12 on 6 Nov 2026.
Performance Over six months the shares fell 22.6%, against -13.1% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 5th lowest of 20 in its peer set.
Growth Revenue fell 11.6% over the last twelve months (peer median +5.1%); the operating margin is 25.7% (peer median 9.5%).
Valuation It trades at 6.2× forward earnings against a peer median of 12.1× (2nd cheapest of 14).
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 +8%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.4 points below its cost of capital (5.4% WACC).
Next results Next results expected around 23 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$12.6B | HK$13.2B | HK$15.2B | HK$17.2B | HK$19.0B |
| Revenue growth | — | -13% | -11% | -10% | — |
| Gross profit | HK$4.51B | HK$4.22B | HK$4.83B | HK$5.77B | HK$5.74B |
| EBITDA | HK$6.41B | HK$6.74B | HK$6.99B | HK$7.08B | HK$7.29B |
| Net income | HK$1.52B | HK$2.15B | HK$1.94B | HK$2.10B | HK$1.53B |
| Free cash flow | HK$725M | -HK$859M | -HK$4.72B | -HK$1.32B | HK$372M |
| Capital expenditure | HK$4.22B | HK$5.85B | HK$7.23B | HK$5.05B | HK$2.94B |
| Total debt | n/a | HK$51.0B | HK$49.5B | HK$46.2B | HK$46.3B |
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 |
|---|---|---|---|---|---|---|
| CGN New Energy 1811.HK | $1.16B | -23% | -12% | 26% | 6.2× | 4.2% |
| China Power International Development 2380.HK | $4.29B | -20% | -5% | 20% | 13.6× | n/a |
| China Longyuan Power 0916.HK | $13.8B | -17% | -6% | 27% | 11.5× | 0.6% |
| Xinyi Energy 3868.HK | $863M | -38% | +2% | 54% | 8.1× | -2.6% |
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 | 1811.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.2% | -4.5% | 8th highest of 21 |
| 6-month return | -22.6% | -13.1% | 5th lowest of 20 |
| Distance from 52-week high | -29.3% | -29.6% | 11th highest of 21 |
| Revenue growth (TTM) | -11.6% | +5.1% | 3rd lowest of 21 |
| Operating margin | 25.7% | 9.5% | 3rd highest of 21 |
| Forward P/E | 6.2× | 12.1× | 2nd cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 4.2% | 0.8% | 7th most demanding of 16 |
| Growth delivered (Del g) | +8.2% | +10.2% | 8th lowest of 16 |
| Hurdle (Req g minus delivered) | -4.0 pp | -14.5 pp | 8th most demanding of 16 |
| ROIC minus cost of capital | -1.4 pp | +0.8 pp | 6th lowest of 21 |
| EV / EBITDA | 9.6× | 8.1× | 5th most expensive of 11 |
| Net debt / EBITDA | 8.0× | 0.9× | 2nd most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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% |
| naturenergie NEAG.SW | Switzerland | $1.17B | -12% | -16% | 13% | 12.1× | -15.5% | +5.6% |
| Hunan Energy Group Development 000722.SZ | China | $1.19B | -13% | +126% | 48% | n/a | 0.8% | +2.4% |
| Guizhou Qianyuan Power 002039.SZ | China | $1.19B | -8% | +14% | 45% | 19.5× | -10.1% | +4.4% |
| Arendals Fossekompani AFK.OL | Norway | $1.11B | -2% | -7% | 11% | n/a | 14.4% | +3.6% |
| Jiangxi Ganneng 000899.SZ | China | $1.26B | -31% | +24% | 13% | 7.4× | -4.4% | +22.6% |
| Unitil UTL | United States | $1.05B | +11% | +21% | 19% | 16.2× | n/a | n/a |
| Electricite de Strasbourg ELEC.PA | France | $1.29B | -34% | -10% | 8% | n/a | -10.7% | +11.1% |
| 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% |
| Jaiprakash Power Ventures JPPOWER.NS | India | $1.01B | -29% | +6% | 21% | n/a | 9.9% | +11.0% |
| Hokuriku Electric Power 9505.T | Japan | $1.34B | +16% | -5% | 7% | 7.6× | 8.4% | +3.7% |
| 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% |
| Guangxi Energy 600310.SS | China | $939M | -14% | +11% | 16% | 20.3× | 4.8% | -27.7% |
| Hawaiian Electric Industries HE | United States | $1.45B | -43% | +2% | 11% | 5.2× | n/a | n/a |
| Telecom Plus TEP.L | United Kingdom | $922M | -15% | +6% | 6% | 10.9× | -8.6% | +17.6% |
| Vedanta Power VEDPOWER.NS | India | $1.46B | n/a | +5% | -13% | n/a | n/a | n/a |