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Fujian wind and solar power generator, developing and operating renewable-energy projects despite its old paper-industry listing tag.
Fujian wind and solar power generator, developing and operating renewable-energy projects despite its old paper-industry listing tag.
Sells the electricity its wind and solar plants generate to the regional grid at government-set or contracted tariffs, so each newly connected plant adds revenue, while weather and grid curtailment (operators turning plants down when supply exceeds demand) decide how much is actually sold. It began life as a paper company and has switched to power.
In one line: A small Chinese renewable power producer.
Moat: narrow (regulatory licence, installed base). Grid-connection approvals and a built project pipeline are slow for new entrants to replicate.
Headquarters: Fuzhou, Fujian, China · Employees: 494
Size Zhongmin Energy (600163.SS) is a China Materials company (Pulp & Paper) with a market value of $1.49B, the 1648th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.22 on 6 Nov 2026.
Performance Over six months the shares fell 15.4%, against -8.5% for the median peer and -16.4% for the China market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 18.0% over the last twelve months (peer median +1.4%); the operating margin is 49.3% (peer median 1.9%).
Valuation It trades at 15.5× forward earnings against a peer median of 15.3× (8th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about -10% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.9 points above 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¥2.04B | CN¥1.59B | CN¥1.73B | CN¥1.72B | CN¥1.78B |
| Revenue growth | — | -8% | 0% | -3% | — |
| Gross profit | CN¥1.60B | CN¥837M | CN¥980M | CN¥963M | CN¥1.09B |
| EBITDA | n/a | CN¥1.38B | CN¥1.45B | CN¥1.47B | CN¥1.55B |
| Net income | CN¥615M | CN¥522M | CN¥651M | CN¥678M | CN¥729M |
| Free cash flow | CN¥2.20B | CN¥1.86B | CN¥762M | CN¥954M | CN¥1.06B |
| Capital expenditure | CN¥268M | CN¥194M | CN¥59.7M | CN¥93.0M | CN¥217M |
| Total debt | CN¥5.85B | CN¥2.65B | CN¥3.56B | CN¥3.88B | CN¥4.46B |
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 |
|---|---|---|---|---|---|---|
| Zhongmin Energy 600163.SS | $1.49B | -15% | +18% | 49% | 15.5× | -9.8% |
| China Longyuan Power 0916.HK | $13.8B | -17% | -6% | 27% | 11.5× | 0.6% |
| China Three Gorges Renewables (Group) 600905.SS | $14.7B | -16% | -8% | 17% | 39.8× | 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 | 600163.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.9% | -6.1% | 9th lowest of 21 |
| 6-month return | -15.4% | -8.5% | 9th lowest of 21 |
| Distance from 52-week high | -40.8% | -30.9% | 8th lowest of 21 |
| Revenue growth (TTM) | +18.0% | +1.4% | highest of 21 |
| Operating margin | 49.3% | 1.9% | highest of 21 |
| Forward P/E | 15.5× | 15.3× | 8th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | -9.8% | 5.4% | 2nd least demanding of 13 |
| Growth delivered (Del g) | +5.0% | +2.6% | 4th highest of 13 |
| Hurdle (Req g minus delivered) | -14.8 pp | +3.7 pp | least demanding of 13 |
| ROIC minus cost of capital | +3.9 pp | -3.4 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Zhongmin Energy 600163.SS | China | $1.49B | -15% | +18% | 49% | 15.5× | -9.8% | +5.0% |
| C&S Paper 002511.SZ | China | $1.44B | -8% | +2% | 7% | 21.7× | -2.1% | +2.3% |
| Sylvamo SLVM | United States | $1.57B | -4% | -7% | 6% | 9.6× | n/a | n/a |
| YFY 1907.TW | Taiwan | $1.40B | +18% | -2% | 0% | 23.1× | 7.1% | +0.1% |
| Lee & Man Paper Manufacturing 2314.HK | Hong Kong | $1.77B | -4% | +14% | 9% | 5.5× | 1.0% | +0.6% |
| Metsa Board METSA.HE | Finland | $1.22B | -17% | -11% | -4% | n/a | 16.7% | -1.2% |
| Xianhe 603733.SS | China | $1.94B | -28% | +9% | 10% | 10.9× | n/a | n/a |
| Daio Paper 3880.T | Japan | $1.03B | +3% | +1% | 4% | 15.6× | 3.7% | +3.4% |
| Yueyang Forest & Paper 600963.SS | China | $1.02B | -14% | -10% | -5% | 19.9× | n/a | n/a |
| Billerud BILL.ST | Sweden | $2.24B | +35% | -9% | -1% | 70.1× | 24.9% | +11.2% |
| Rengo 3941.T | Japan | $2.29B | +18% | +4% | 4% | 11.0× | n/a | n/a |
| Shanying International 600567.SS | China | $962M | -27% | +1% | -7% | n/a | -11.8% | +2.9% |
| Fujian Qingshan Paper Industry 600103.SS | China | $930M | -35% | +5% | 2% | n/a | 14.6% | -0.5% |
| Nippon Paper Industries 3863.T | Japan | $899M | -6% | +2% | 2% | 11.8× | 15.4% | +3.4% |
| Wuzhou Special Paper 605007.SS | China | $882M | -22% | +17% | 5% | 12.1× | n/a | n/a |
| Japan Pulp and Paper 8032.T | Japan | $877M | +9% | +10% | 2% | 15.3× | 3.5% | +5.6% |
| Shandong Bohui Paper Industry 600966.SS | China | $841M | -33% | -2% | 2% | 38.0× | -0.6% | +6.5% |
| Sichuan Jinshi Technology 002951.SZ | China | $840M | -7% | -52% | -102% | n/a | n/a | n/a |
| Hokuetsu 3865.T | Japan | $816M | -9% | -5% | 2% | 17.2× | n/a | n/a |
| Guangdong Guanhao High-Tech 600433.SS | China | $788M | -37% | -1% | -4% | 11.7× | 25.9% | +2.0% |
| Zhejiang Jingxing Paper Joint Stock 002067.SZ | China | $787M | -27% | +18% | 0% | n/a | n/a | n/a |