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Shanxi coal-mining group that underwent a major debt default and restructuring; core business is coal.
Shanxi coal-mining group that underwent a major debt default and restructuring; core business is coal.
Moat: none. Commodity coal producer that suffered a high-profile bond default, reflecting weak balance-sheet discipline.
Headquarters: Taiyuan, Shanxi, China · Employees: 13,557
Size Wintime Energy (600157.SS) is a China Utilities company (Electric Utilities) with a market value of $4.55B, the 558th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥1.39 on 6 Nov 2026.
Performance Over six months the shares fell 21.5%, against -5.5% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue fell 8.9% over the last twelve months (peer median +1.4%); the operating margin is 7.3% (peer median 12.9%).
Valuation It trades at 104.2× forward earnings against a peer median of 12.6× (2nd most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is -1 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.7 points below its cost of capital (5.0% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥21.4B | CN¥23.7B | CN¥28.2B | CN¥30.0B | CN¥35.4B |
| Revenue growth | — | -16% | -6% | -15% | — |
| Gross profit | CN¥6.11B | CN¥4.83B | CN¥6.99B | CN¥8.12B | CN¥7.52B |
| EBITDA | n/a | CN¥5.03B | CN¥6.93B | CN¥8.08B | CN¥7.40B |
| Net income | CN¥26.3M | CN¥209M | CN¥1.56B | CN¥2.27B | CN¥1.91B |
| Free cash flow | CN¥4.58B | CN¥5.37B | CN¥5.67B | CN¥6.09B | CN¥4.67B |
| Capital expenditure | CN¥1.33B | CN¥757M | CN¥832M | CN¥941M | CN¥1.98B |
| Total debt | CN¥28.2B | CN¥38.2B | CN¥36.0B | CN¥42.2B | CN¥43.6B |
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 |
|---|---|---|---|---|---|---|
| Wintime Energy 600157.SS | $4.55B | -21% | -9% | 7% | 104.2× | 0.8% |
| China Shenhua Energy 601088.SS | $151B | +1% | -13% | 24% | 16.9× | n/a |
| China Coal Energy 601898.SS | $22.6B | -31% | -4% | 18% | 9.2× | -17.0% |
| Shaanxi Coal Industry 601225.SS | $37.6B | -1% | -8% | 22% | 11.1× | -15.1% |
| Yankuang Energy 600188.SS | $20.4B | -27% | +21% | 15% | 10.3× | -0.7% |
| Shanxi Coking Coal Energy 000983.SZ | $5.38B | -10% | -5% | 9% | 12.7× | -6.4% |
| Shanxi Lu'An Environmental Energy Development 601699.SS | $6.03B | -17% | -1% | 10% | 10.9× | 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 | 600157.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.1% | +0.3% | 5th lowest of 21 |
| 6-month return | -21.5% | -5.5% | 4th lowest of 21 |
| Distance from 52-week high | -33.8% | -22.0% | 5th lowest of 21 |
| Revenue growth (TTM) | -8.9% | +1.4% | 3rd lowest of 21 |
| Operating margin | 7.3% | 12.9% | 4th lowest of 20 |
| Forward P/E | 104.2× | 12.6× | 2nd most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 0.8% | -0.2% | 5th most demanding of 10 |
| Growth delivered (Del g) | +1.4% | +5.4% | 2nd lowest of 10 |
| Hurdle (Req g minus delivered) | -0.6 pp | -5.0 pp | 4th most demanding of 10 |
| ROIC minus cost of capital | -1.7 pp | -1.4 pp | 10th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wintime Energy 600157.SS | China | $4.55B | -21% | -9% | 7% | 104.2× | 0.8% | +1.4% |
| Shenzhen Energy 000027.SZ | China | $4.49B | -8% | +4% | 13% | 11.2× | n/a | n/a |
| Shaanxi Energy Investment 001286.SZ | China | $4.68B | -16% | +4% | 24% | 12.9× | -9.2% | +18.6% |
| Electric Power Development 9513.T | Japan | $4.39B | +2% | +4% | 10% | 8.2× | 4.5% | +5.4% |
| Brookfield Renewable BEPC | United States | $4.79B | -13% | +6% | 19% | 249.6× | n/a | n/a |
| Jiangsu Guoxin 002608.SZ | China | $4.30B | -1% | +7% | 5% | 12.6× | -0.7% | +10.5% |
| China Power International Development 2380.HK | Hong Kong | $4.29B | -20% | -5% | 20% | 13.6× | n/a | n/a |
| Algonquin Power & Utilities AQN.TO | Canada | $4.29B | -9% | +6% | 20% | 14.2× | n/a | n/a |
| Northland Power NPI.TO | Canada | $4.22B | -4% | +15% | 34% | 14.3× | -1.7% | +3.4% |
| AGL Energy AGL.AX | Australia | $4.21B | -3% | -6% | 11% | 10.5× | n/a | n/a |
| Tokyo Elec Power Co Hldgs 9501.T | Japan | $4.17B | -31% | -2% | 1% | 3.7× | n/a | n/a |
| Shanghai Electric Power 600021.SS | China | $4.98B | -31% | -6% | 13% | 8.9× | n/a | n/a |
| TransAlta TA.TO | Canada | $4.15B | +5% | -12% | 8% | 49.9× | 21.9% | +4.1% |
| Huadian Energy 600726.SS | China | $5.01B | -33% | -7% | 10% | n/a | n/a | n/a |
| Beijing Jingneng Power 600578.SS | China | $5.06B | +3% | -6% | 11% | 11.0× | -2.8% | +12.2% |
| NorthWestern Energy NWE | United States | $5.09B | +14% | +11% | 19% | 20.6× | n/a | n/a |
| TAURON Polska Energia TPE.WA | Poland | $4.02B | -6% | 0% | n/a | 6.1× | 17.0% | +10.4% |
| Acea ACE.MI | Italy | $5.14B | -7% | -21% | 26% | 14.3× | 5.8% | -3.3% |
| Tohoku Electric Power 9506.T | Japan | $3.89B | +13% | +17% | 3% | 4.9× | n/a | n/a |
| Drax DRX.L | United Kingdom | $3.88B | 0% | -8% | 9% | 10.4× | -0.2% | +4.8% |
| Portland General Electric POR | United States | $5.47B | -5% | +3% | 16% | 12.9× | n/a | n/a |