Loading…
Employees: 457
Size Xinyi Energy (3868.HK) is a Hong Kong Utilities company (Alternative Power Generation) with a market value of $863M, the 628th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$0.79 on 6 Nov 2026.
Performance Over six months the shares fell 38.2%, against -30.3% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 1.5% over the last twelve months (peer median +14.6%); the operating margin is 53.7% (peer median 19.6%).
Valuation It trades at 8.1× forward earnings against a peer median of 15.0× (3rd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.8 points below its cost of capital (6.7% WACC).
Next results Next results expected around 1 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$2.56B | HK$2.66B | HK$2.65B | HK$2.52B | HK$2.32B |
| Revenue growth | — | +1% | +5% | +9% | — |
| Gross profit | HK$1.46B | HK$1.64B | HK$1.73B | HK$1.71B | HK$1.63B |
| EBITDA | HK$2.26B | HK$2.42B | HK$2.43B | HK$2.31B | HK$2.13B |
| Net income | HK$979M | HK$1.10B | HK$857M | HK$993M | HK$971M |
| Free cash flow | HK$989M | HK$713M | -HK$1.46B | -HK$1.87B | HK$1.35B |
| Capital expenditure | HK$1.00B | HK$1.09B | HK$2.50B | HK$2.65B | HK$1.55B |
| Total debt | n/a | HK$9.23B | HK$8.84B | HK$7.04B | HK$5.65B |
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 | 3868.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | 0.0% | -9.7% | 4th highest of 21 |
| 6-month return | -38.2% | -30.3% | 4th lowest of 20 |
| Distance from 52-week high | -43.9% | -43.8% | 11th highest of 21 |
| Revenue growth (TTM) | +1.5% | +14.6% | 7th lowest of 21 |
| Operating margin | 53.7% | 19.6% | highest of 21 |
| Forward P/E | 8.1× | 15.0× | 3rd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -2.6% | -4.3% | 5th most demanding of 10 |
| Growth delivered (Del g) | +9.1% | +18.4% | 4th lowest of 10 |
| Hurdle (Req g minus delivered) | -11.6 pp | -13.8 pp | 5th most demanding of 10 |
| ROIC minus cost of capital | -1.8 pp | -0.8 pp | 10th lowest of 21 |
| EV / EBITDA | 6.6× | 17.0× | 2nd cheapest of 12 |
| Net debt / EBITDA | 3.6× | 7.0× | 3rd least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Xinyi Energy 3868.HK | Hong Kong | $863M | -38% | +2% | 54% | 8.1× | -2.6% | +9.1% |
| Waaree Renewable Technologies WAAREERTL.NS | India | $810M | -30% | +78% | 17% | 12.2× | 24.1% | +203.3% |
| SK Eternix 475150.KS | South Korea | $949M | -35% | +39% | 9% | 40.0× | n/a | n/a |
| Cox Infrastructure COXG.MC | Spain | $1.05B | -12% | +72% | 9% | 10.1× | n/a | n/a |
| Shanghai Nenghui Technology 301046.SZ | China | $680M | +8% | -49% | -13% | 2,690.0× | n/a | n/a |
| Alerion Clean Power ARN.MI | Italy | $1.11B | -35% | +13% | 51% | 16.4× | n/a | n/a |
| Century Wind Power 2072.TW | Taiwan | $618M | -41% | +62% | 22% | 5.7× | -17.2% | +41.9% |
| Guangdong Chant 002616.SZ | China | $617M | -21% | -3% | 7% | 14.1× | -4.3% | +3.8% |
| KPI Green Energy KPIGREEN.NS | India | $615M | -40% | +40% | 30% | 12.0× | n/a | n/a |
| Zhejiang Sunoren Solar Technology 603105.SS | China | $608M | -17% | +8% | 23% | 19.3× | 3.7% | +11.6% |
| XPLR Infrastructure, LP XIFR | United States | $1.38B | -38% | -1% | 3% | 3.0× | n/a | n/a |
| Inox Green Energy Services INOXGREEN.NS | India | $537M | -37% | +16% | 2% | n/a | n/a | n/a |
| Scatec SCATC.OL | Norway | $1.50B | -16% | +16% | 29% | n/a | n/a | n/a |
| West 1407.T | Japan | $490M | -34% | +20% | 23% | 8.2× | -4.9% | -3.6% |
| Juniper Green Energy JNPR.NS | India | $1.54B | n/a | +1,313% | 52% | 100.5× | n/a | n/a |
| Clean Max Enviro Energy Solutions CLEANMAX.NS | India | $1.57B | +8% | +28% | 44% | 107.0× | n/a | n/a |
| Nyocor 600821.SS | China | $1.63B | -29% | -12% | 12% | 40.5× | 6.8% | +20.6% |
| Jiaze Renewables 601619.SS | China | $1.65B | -34% | -5% | 43% | 15.0× | 0.2% | +19.7% |
| Pne PNE3.DE | Germany | $442M | -47% | +13% | 14% | n/a | n/a | n/a |
| Luenmei Quantum 600167.SS | China | $1.76B | -21% | -11% | 15% | 19.4× | -8.9% | -2.1% |
| Grandtop Yongxing 601033.SS | China | $1.83B | -2% | +6% | 26% | 14.0× | -5.1% | +18.4% |