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Chinese power generator operating hydro and thermal plants, part of the State Development & Investment Corp (SDIC) group.
Chinese power generator operating hydro and thermal plants, part of the State Development & Investment Corp (SDIC) group.
Sells electricity to provincial grids at tariffs set or approved by the state, with hydropower the lower-cost core of its earnings and coal-fired plants the part exposed to fuel costs. SDIC, a central state investment group, is the controlling shareholder.
In one line: China's Duke Energy generation arm.
Moat: narrow (regulatory licence, scale). State-backed generation licences and asset scale, but regulated tariffs limit pricing power.
Headquarters: Beijing, China · Founded: 1995 · Employees: 10,775
Size SDIC Power (600886.SS) is a China Utilities company (Electric Utilities) with a market value of $19.0B, the 117th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥15.81 on 6 Nov 2026.
Performance Over six months the shares gained 16.0%, against +0.9% for the median peer and -16.4% for the China market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue fell 3.2% over the last twelve months (peer median +3.1%); the operating margin is 32.1% (peer median 18.3%).
Valuation It trades at 17.5× forward earnings against a peer median of 17.9× (9th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -8 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.4 points above its cost of capital (5.0% WACC).
Next results Next results expected around 5 May 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥52.0B | CN¥52.5B | CN¥57.5B | CN¥56.4B | CN¥50.2B |
| Revenue growth | — | -9% | +2% | +12% | — |
| Gross profit | CN¥28.2B | CN¥21.1B | CN¥21.1B | CN¥20.0B | CN¥15.7B |
| EBITDA | n/a | CN¥28.5B | CN¥28.7B | CN¥27.4B | CN¥23.3B |
| Net income | CN¥6.95B | CN¥7.25B | CN¥6.64B | CN¥6.70B | CN¥4.08B |
| Free cash flow | CN¥9.24B | CN¥10.8B | CN¥3.30B | CN¥1.43B | CN¥7.24B |
| Capital expenditure | CN¥19.1B | CN¥21.4B | CN¥21.8B | CN¥20.3B | CN¥15.2B |
| Total debt | CN¥166B | CN¥168B | CN¥164B | CN¥157B | CN¥146B |
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 |
|---|---|---|---|---|---|---|
| SDIC Power 600886.SS | $19.0B | +16% | -3% | 32% | 17.5× | -1.6% |
| Huaneng Power International 600011.SS | $16.4B | +9% | -5% | 9% | 13.5× | -2.1% |
| GD Power Development 600795.SS | $14.4B | +13% | -1% | 9% | 19.2× | -0.4% |
| Datang International Power Generation 601991.SS | $10.8B | +14% | 0% | 12% | 12.2× | -2.3% |
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 | 600886.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.1% | +6.2% | 7th lowest of 21 |
| 6-month return | +16.0% | +0.9% | highest of 21 |
| Distance from 52-week high | -3.4% | -10.7% | 5th highest of 21 |
| Revenue growth (TTM) | -3.2% | +3.1% | 5th lowest of 21 |
| Operating margin | 32.1% | 18.3% | 4th highest of 21 |
| Forward P/E | 17.5× | 17.9× | 9th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 1.7% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +6.5% | +3.6% | 4th highest of 12 |
| Hurdle (Req g minus delivered) | -8.1 pp | -1.9 pp | 4th least demanding of 12 |
| ROIC minus cost of capital | +1.4 pp | -1.7 pp | 2nd highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| SDIC Power 600886.SS | China | $19.0B | +16% | -3% | 32% | 17.5× | -1.6% | +6.5% |
| Adani Energy Solutions ADANIENSOL.NS | India | $18.9B | +5% | +33% | 25% | 37.4× | n/a | n/a |
| Alliant Energy LNT | United States | $18.8B | +1% | +5% | 23% | 20.8× | n/a | n/a |
| NRG Energy NRG | United States | $18.6B | -36% | +13% | 5% | 9.0× | 15.4% | +27.9% |
| Evergy EVRG | United States | $20.2B | +8% | +4% | 26% | 19.4× | n/a | n/a |
| Power Assets 0006.HK | Hong Kong | $17.8B | +3% | -12% | 50% | 21.0× | 35.8% | -9.5% |
| Uniper UN0.DE | Germany | $20.6B | 0% | -14% | -8% | 33.3× | 1.7% | +3.6% |
| Kansai Electric Power 9503.T | Japan | $17.3B | +2% | +2% | 6% | 8.2× | 11.0% | +5.6% |
| Cki 1038.HK | Hong Kong | $21.6B | +9% | -9% | -3% | 7.1× | -0.9% | -9.3% |
| CMS Energy CMS | United States | $21.7B | -5% | +8% | 20% | 17.1× | n/a | n/a |
| Terna TRN.MI | Italy | $22.0B | -2% | +11% | 42% | 17.8× | n/a | n/a |
| Huaneng Power International 600011.SS | China | $16.4B | +9% | -5% | 9% | 13.5× | -2.1% | +6.2% |
| Edison International EIX | United States | $22.8B | -14% | +3% | 27% | 9.2× | n/a | n/a |
| Emera EMA.TO | Canada | $15.7B | 0% | +11% | 19% | 20.2× | n/a | n/a |
| Fortum FORTUM.HE | Finland | $23.3B | +15% | +14% | 17% | 23.4× | 9.2% | -36.7% |
| ENBW Energie Baden-Wuerttemberg EBK.DE | Germany | $24.2B | -3% | +9% | 5% | n/a | 5.2% | +11.8% |
| Hydro One H.TO | Canada | $24.7B | -2% | +9% | 24% | 24.5× | n/a | n/a |
| Kepco 015760.KS | South Korea | $14.4B | -30% | +2% | 13% | 4.5× | -1.9% | +10.7% |
| GD Power Development 600795.SS | China | $14.4B | +13% | -1% | 9% | 19.2× | -0.4% | +3.4% |
| Power Grid Corporation of India POWERGRID.NS | India | $25.6B | -17% | +3% | 55% | 14.4× | n/a | n/a |
| Clp 0002.HK | Hong Kong | $26.1B | +7% | -2% | 16% | 17.9× | 1.6% | +2.0% |