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Renewable-energy arm of China Three Gorges Corporation, developing large-scale wind and solar power projects.
Renewable-energy arm of China Three Gorges Corporation, developing large-scale wind and solar power projects.
Sells electricity from wind and solar farms to grid companies at tariffs fixed under state rules, with a rising share sold at market-set prices as subsidies fade. Projects are built with heavy borrowing, so earnings depend on how many farms are running and how much output the grid takes.
In one line: China's NextEra Energy Resources.
Moat: narrow (scale). Backed by China's largest hydropower operator, aiding financing and grid-access in renewables.
Headquarters: Beijing, China · Founded: 2015 · Employees: 7,427
Size China Three Gorges Renewables (Group) (600905.SS) is a China Utilities company (Alternative Power Generation) with a market value of $14.7B, the 159th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥3.42 on 6 Nov 2026.
Performance Over six months the shares fell 16.4%, against -11.0% for the median peer and -16.4% for the China market (cap-weighted) — 5th lowest of 13 in its peer set.
Growth Revenue fell 7.9% over the last twelve months (peer median +12.2%); the operating margin is 17.2% (peer median 25.9%).
Valuation It trades at 39.8× forward earnings against a peer median of 21.1× (5th most expensive of 12).
Capital Return on invested capital runs 1.3 points below 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¥26.9B | CN¥28.3B | CN¥29.6B | CN¥26.4B | CN¥23.8B |
| Revenue growth | — | -4% | +12% | +11% | — |
| Gross profit | CN¥20.0B | CN¥11.4B | CN¥15.2B | CN¥14.4B | CN¥13.6B |
| EBITDA | n/a | CN¥23.3B | CN¥24.9B | CN¥22.2B | CN¥20.4B |
| Net income | CN¥830M | CN¥3.71B | CN¥6.11B | CN¥7.17B | CN¥7.11B |
| Free cash flow | -CN¥4.20B | -CN¥10.6B | -CN¥11.6B | -CN¥26.4B | -CN¥10.8B |
| Capital expenditure | CN¥25.5B | CN¥32.1B | CN¥30.9B | CN¥41.1B | CN¥27.7B |
| Total debt | CN¥208B | CN¥201B | CN¥184B | CN¥161B | CN¥133B |
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 |
|---|---|---|---|---|---|---|
| China Three Gorges Renewables (Group) 600905.SS | $14.7B | -16% | -8% | 17% | 39.8× | n/a |
| Huadian New Energy 600930.SS | $24.5B | -35% | +32% | 27% | 27.1× | n/a |
| China Longyuan Power 0916.HK | $13.8B | -17% | -6% | 27% | 11.5× | 0.6% |
| CGN New Energy 1811.HK | $1.16B | -23% | -12% | 26% | 6.2× | 4.2% |
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 | 600905.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.1% | +1.8% | 5th lowest of 13 |
| 6-month return | -16.4% | -11.0% | 5th lowest of 13 |
| Distance from 52-week high | -26.8% | -19.7% | 5th lowest of 13 |
| Revenue growth (TTM) | -7.9% | +12.2% | 2nd lowest of 13 |
| Operating margin | 17.2% | 25.9% | 3rd lowest of 13 |
| Forward P/E | 39.8× | 21.1× | 5th most expensive of 12 |
| ROIC minus cost of capital | -1.3 pp | -2.5 pp | 5th highest of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| China Three Gorges Renewables (Group) 600905.SS | China | $14.7B | -16% | -8% | 17% | 39.8× | n/a | n/a |
| Talen Energy TLN | United States | $14.7B | -12% | +20% | 20% | 13.0× | 21.1% | -10.0% |
| China Longyuan Power 0916.HK | Hong Kong | $13.8B | -17% | -6% | 27% | 11.5× | 0.6% | +0.2% |
| Enlight Renewable Energy ENLT | United States | $9.57B | -25% | +29% | 51% | n/a | n/a | n/a |
| Huadian New Energy 600930.SS | China | $24.5B | -35% | +32% | 27% | 27.1× | n/a | n/a |
| Adani Green Energy ADANIGREEN.NS | India | $24.7B | +4% | +21% | 61% | 87.9× | n/a | n/a |
| Brookfield Infrastructure Partners L.P BIP | United States | $25.6B | +7% | +16% | 25% | 71.0× | n/a | n/a |
| Corporacion Acciona Energias Renovables ANE.MC | Spain | $8.06B | -7% | -14% | 18% | 21.1× | n/a | n/a |
| NTPC Green Energy NTPCGREEN.NS | India | $7.37B | -24% | +49% | 50% | 59.8× | n/a | n/a |
| Clearway Energy CWEN | United States | $7.00B | -11% | +8% | 13% | 56.4× | 33.1% | +2.4% |
| Hubei Energy 000883.SZ | China | $4.58B | -11% | -5% | 15% | 17.6× | -0.4% | +0.6% |
| Fujian Funeng 600483.SS | China | $4.53B | +9% | -1% | 22% | 10.7× | -4.9% | +7.5% |
| ERG ERG.MI | Italy | $3.77B | -3% | +5% | 28% | 19.4× | 10.0% | -2.8% |