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Beijing's power generator, shifting from coal to gas-fired and renewable generation to cut the capital's air pollution.
Beijing's power generator, shifting from coal to gas-fired and renewable generation to cut the capital's air pollution.
In one line: China's a regional utility pivoting to gas/renewables.
Moat: narrow (regulatory licence). Beijing-area licence position amid a policy-driven shift away from coal generation.
Headquarters: Beijing, China · Founded: 1999 · Employees: 5,382
Size Beijing Jingneng Power (600578.SS) is a China Utilities company (Electric Utilities) with a market value of $5.06B, the 497th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥5.04 on 6 Nov 2026.
Performance Over six months the shares gained 3.3%, against -7.3% for the median peer and -16.4% for the China market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue fell 6.2% over the last twelve months (peer median +4.4%); the operating margin is 11.4% (peer median 18.8%).
Valuation It trades at 11.0× forward earnings against a peer median of 12.9× (5th cheapest of 20).
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 +12%, so the hurdle is -15 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.0 points above its cost of capital (5.0% WACC).
Next results Next results expected around 26 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥34.3B | CN¥35.3B | CN¥35.4B | CN¥33.2B | CN¥30.2B |
| Revenue growth | — | 0% | +7% | +10% | — |
| Gross profit | CN¥9.29B | CN¥7.29B | CN¥4.45B | CN¥3.08B | CN¥2.52B |
| EBITDA | n/a | CN¥9.40B | CN¥6.39B | CN¥5.41B | CN¥5.08B |
| Net income | CN¥2.82B | CN¥3.53B | CN¥1.75B | CN¥881M | CN¥803M |
| Free cash flow | CN¥5.29B | CN¥7.02B | CN¥2.79B | -CN¥2.22B | CN¥2.21B |
| Capital expenditure | CN¥3.77B | CN¥4.55B | CN¥4.91B | CN¥7.28B | CN¥4.57B |
| Total debt | CN¥52.0B | CN¥58.7B | CN¥59.7B | CN¥59.4B | CN¥50.9B |
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 |
|---|---|---|---|---|---|---|
| Beijing Jingneng Power 600578.SS | $5.06B | +3% | -6% | 11% | 11.0× | -2.8% |
| Huaneng Power International 600011.SS | $16.4B | +9% | -5% | 9% | 13.5× | -2.1% |
| Datang International Power Generation 601991.SS | $10.8B | +14% | 0% | 12% | 12.2× | -2.3% |
| Huadian Power International 600027.SS | $8.61B | +3% | -7% | 6% | 13.2× | -0.4% |
| SDIC Power 600886.SS | $19.0B | +16% | -3% | 32% | 17.5× | -1.6% |
| Shenergy 600642.SS | $6.64B | +1% | -2% | 12% | 12.6× | -1.6% |
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 | 600578.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.0% | +0.9% | 3rd lowest of 21 |
| 6-month return | +3.3% | -7.3% | 2nd highest of 21 |
| Distance from 52-week high | -49.9% | -24.6% | 3rd lowest of 21 |
| Revenue growth (TTM) | -6.2% | +4.4% | 6th lowest of 21 |
| Operating margin | 11.4% | 18.8% | 7th lowest of 21 |
| Forward P/E | 11.0× | 12.9× | 5th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -2.8% | 0.1% | 3rd least demanding of 9 |
| Growth delivered (Del g) | +12.2% | +6.2% | 3rd highest of 9 |
| Hurdle (Req g minus delivered) | -15.0 pp | -4.4 pp | 3rd least demanding of 9 |
| ROIC minus cost of capital | +1.0 pp | -1.1 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| 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 |
| Huadian Energy 600726.SS | China | $5.01B | -33% | -7% | 10% | n/a | n/a | n/a |
| Acea ACE.MI | Italy | $5.14B | -7% | -21% | 26% | 14.3× | 5.8% | -3.3% |
| Shanghai Electric Power 600021.SS | China | $4.98B | -31% | -6% | 13% | 8.9× | n/a | n/a |
| Brookfield Renewable BEPC | United States | $4.79B | -13% | +6% | 19% | 249.6× | n/a | n/a |
| Portland General Electric POR | United States | $5.47B | -5% | +3% | 16% | 12.9× | n/a | n/a |
| Shaanxi Energy Investment 001286.SZ | China | $4.68B | -16% | +4% | 24% | 12.9× | -9.2% | +18.6% |
| China Southern Power Grid Energy Storage 600995.SS | China | $5.48B | -21% | +18% | 41% | 18.7× | n/a | n/a |
| Wintime Energy 600157.SS | China | $4.55B | -21% | -9% | 7% | 104.2× | 0.8% | +1.4% |
| Ormat Technologies ORA | United States | $5.65B | -24% | +31% | 19% | 41.2× | n/a | n/a |
| Shenzhen Energy 000027.SZ | China | $4.49B | -8% | +4% | 13% | 11.2× | n/a | n/a |
| Electric Power Development 9513.T | Japan | $4.39B | +2% | +4% | 10% | 8.2× | 4.5% | +5.4% |
| 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 |
| Enel Chile SA Sponsored ADR ENIC | United States | $6.06B | -6% | +16% | 19% | 9.4× | 3.4% | +6.9% |
| 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 |
| Hera HER.MI | Italy | $6.14B | -3% | -11% | 8% | 11.9× | -8.9% | +12.6% |
| YTL 1773.T | Japan | $6.14B | +1% | +19% | 19% | 12.5× | n/a | n/a |