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Local electric utility in Chongqing's Fuling district selling power and grid line-loss-reduction technology services.
Local electric utility in Chongqing's Fuling district selling power and grid line-loss-reduction technology services.
Buys electricity wholesale and sells it to customers in its Fuling franchise area at regulated rates, so margin is the gap between wholesale cost and retail tariff, plus fees for energy-saving and line-loss projects it installs for industrial users.
Moat: narrow (regulatory licence, installed base). Regional franchise for power distribution; efficiency-service revenue tied to large industrial/data-centre loads.
Headquarters: Fuling, Chongqing, China · Employees: 621
Size Chongqing Fuling Electric Power Industrial (600452.SS) is a China Utilities company (Electric Utilities) with a market value of $2.00B, the 1258th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥8.70 on 6 Nov 2026.
Performance Over six months the shares fell 25.1%, against -16.8% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue fell 7.1% over the last twelve months (peer median +0.1%); the operating margin is 16.6% (peer median 8.4%).
Valuation It trades at 22.9× forward earnings against a peer median of 11.1× (2nd most expensive of 16).
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 +2%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 17.9 points above its cost of capital (8.6% WACC).
Next results Next results expected around 16 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.77B | CN¥2.99B | CN¥3.11B | CN¥3.44B | CN¥3.56B |
| Revenue growth | — | -4% | -9% | -4% | — |
| Gross profit | CN¥1.02B | CN¥569M | CN¥611M | CN¥700M | CN¥777M |
| EBITDA | n/a | CN¥1.11B | CN¥1.36B | CN¥1.60B | CN¥1.72B |
| Net income | CN¥428M | CN¥393M | CN¥514M | CN¥525M | CN¥613M |
| Free cash flow | CN¥472M | CN¥346M | CN¥720M | CN¥521M | CN¥1.17B |
| Capital expenditure | CN¥514M | CN¥588M | CN¥875M | CN¥604M | CN¥474M |
| Total debt | CN¥11.2M | CN¥20.9M | CN¥12.4M | CN¥12.8M | CN¥494M |
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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 | 600452.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.4% | -3.3% | 9th highest of 21 |
| 6-month return | -25.1% | -16.8% | 10th lowest of 21 |
| Distance from 52-week high | -48.2% | -35.6% | 5th lowest of 21 |
| Revenue growth (TTM) | -7.1% | +0.1% | 6th lowest of 21 |
| Operating margin | 16.6% | 8.4% | 6th highest of 21 |
| Forward P/E | 22.9× | 11.1× | 2nd most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 3.6% | -0.2% | 5th most demanding of 12 |
| Growth delivered (Del g) | +2.4% | +8.7% | lowest of 12 |
| Hurdle (Req g minus delivered) | +1.2 pp | -5.8 pp | 2nd most demanding of 12 |
| ROIC minus cost of capital | +17.9 pp | -0.9 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Chongqing Fuling Electric Power Industrial 600452.SS | China | $2.00B | -25% | -7% | 17% | 22.9× | 3.6% | +2.4% |
| HCIG Energy Investment 000600.SZ | China | $2.01B | -31% | -12% | 9% | 11.1× | n/a | n/a |
| CHN Energy Changyuan Electric Power 000966.SZ | China | $1.99B | -16% | -9% | 1% | 22.4× | 6.6% | +6.2% |
| Henan Yuneng 001896.SZ | China | $2.14B | -39% | -6% | 5% | n/a | n/a | n/a |
| Guangdong Baolihua New Energy Stock 000690.SZ | China | $1.87B | +9% | +1% | 14% | 11.1× | -11.6% | +3.9% |
| Datang Huayin Electric Power 600744.SS | China | $1.83B | -30% | -10% | 6% | n/a | n/a | n/a |
| Huadian Liaoning Energy Development 600396.SS | China | $2.23B | +2% | 0% | 8% | n/a | n/a | n/a |
| MVV Energie MVV1.DE | Germany | $2.23B | +1% | -8% | 4% | n/a | n/a | n/a |
| CESC CESC.NS | India | $1.77B | -32% | +9% | 12% | 9.9× | n/a | n/a |
| Beijing Jingneng Clean Energy 0579.HK | Hong Kong | $1.74B | -27% | -1% | 18% | 4.7× | -1.0% | +3.5% |
| Chongqing Three Gorges Water Conservancy and Electric Power 600116.SS | China | $1.73B | -8% | +4% | 6% | 18.8× | -2.5% | +14.1% |
| Shikoku Electric Power 9507.T | Japan | $2.33B | +24% | -3% | 6% | 9.8× | n/a | n/a |
| SPIC Green Energy 000875.SZ | China | $2.34B | -34% | -4% | 16% | 35.0× | -0.2% | +5.6% |
| SJVN SJVN.NS | India | $2.38B | -28% | +99% | 48% | 15.9× | n/a | n/a |
| Romande Energie REHN.SW | Switzerland | $1.68B | -1% | +2% | 8% | 15.1× | 7.4% | +7.2% |
| Chugoku Electric Power 9504.T | Japan | $2.41B | +18% | 0% | 0% | 9.3× | n/a | n/a |
| Central Puerto SA Sponsored ADR CEPU | United States | $1.64B | -29% | +51% | 29% | 5.0× | -5.0% | +10.3% |
| Dynagreen Environmental Protection 601330.SS | China | $1.63B | -4% | +11% | 31% | 14.8× | -3.5% | +9.2% |
| An Hui Wenergy 000543.SZ | China | $2.52B | -8% | -18% | 11% | 9.2× | 1.3% | +10.4% |
| Nava NAVA.NS | India | $1.59B | -26% | +9% | 29% | n/a | 19.8% | +11.0% |
| State Grid Information & Communication 600131.SS | China | $2.55B | -17% | +13% | 6% | 21.2× | 7.0% | +8.7% |