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One of China's 'big five' state power generators, operating thermal plants and a growing renewable-energy portfolio.
One of China's 'big five' state power generators, operating thermal plants and a growing renewable-energy portfolio.
Controlled by China Datang Corporation, a central-government-owned group. Sells electricity to provincial grid companies at on-grid tariffs set or guided by authorities, so profit depends on the gap between that tariff and fuel cost. Coal-chemical plants add a smaller non-power line.
In one line: China's Duke Energy/NRG Energy generation arm.
Moat: narrow (scale, regulatory licence). Big-five state generator scale, but regulated tariffs and coal costs limit margin upside.
Headquarters: Beijing, China · Founded: 1994 · Employees: 27,149
Size Datang International Power Generation (601991.SS) is a China Utilities company (Electric Utilities) with a market value of $10.8B, the 229th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥4.75 on 6 Nov 2026.
Performance Over six months the shares gained 14.2%, against -2.5% for the median peer and -16.4% for the China market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue fell 0.4% over the last twelve months (peer median +6.7%); the operating margin is 11.7% (peer median 16.6%).
Valuation It trades at 12.2× forward earnings against a peer median of 17.3× (6th cheapest of 19).
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 +5%, so the hurdle is -7 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.6 points above its cost of capital (5.0% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥121B | CN¥121B | CN¥123B | CN¥122B | CN¥117B |
| Revenue growth | — | -2% | +1% | +5% | — |
| Gross profit | CN¥31.3B | CN¥22.4B | CN¥17.6B | CN¥13.8B | CN¥7.73B |
| EBITDA | n/a | CN¥32.9B | CN¥27.1B | CN¥23.0B | CN¥16.9B |
| Net income | CN¥7.06B | CN¥7.39B | CN¥4.51B | CN¥1.37B | -CN¥408M |
| Free cash flow | CN¥5.28B | CN¥11.9B | -CN¥2.56B | CN¥3.38B | CN¥1.67B |
| Capital expenditure | CN¥30.7B | CN¥28.3B | CN¥30.5B | CN¥21.8B | CN¥20.2B |
| Total debt | CN¥241B | CN¥247B | CN¥243B | CN¥230B | CN¥227B |
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 |
|---|---|---|---|---|---|---|
| Datang International Power Generation 601991.SS | $10.8B | +14% | 0% | 12% | 12.2× | -2.3% |
| 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% |
| Huadian Power International 600027.SS | $8.61B | +3% | -7% | 6% | 13.2× | -0.4% |
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 | 601991.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -11.2% | +2.5% | 3rd lowest of 21 |
| 6-month return | +14.2% | -2.5% | 3rd highest of 21 |
| Distance from 52-week high | -52.1% | -14.8% | lowest of 21 |
| Revenue growth (TTM) | -0.4% | +6.7% | 5th lowest of 21 |
| Operating margin | 11.7% | 16.6% | 8th lowest of 21 |
| Forward P/E | 12.2× | 17.3× | 6th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -2.3% | 7.0% | 2nd least demanding of 8 |
| Growth delivered (Del g) | +4.9% | +9.0% | 3rd lowest of 8 |
| Hurdle (Req g minus delivered) | -7.2 pp | -0.9 pp | 2nd least demanding of 8 |
| ROIC minus cost of capital | +1.6 pp | -1.9 pp | 3rd highest of 20 |
| Net debt / EBITDA | 7.1× | 5.4× | 4th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Datang International Power Generation 601991.SS | China | $10.8B | +14% | 0% | 12% | 12.2× | -2.3% | +4.9% |
| Zhejiang Zheneng Electric Power 600023.SS | China | $10.8B | -5% | -7% | -1% | 17.4× | 7.0% | +9.0% |
| Guangxi Guiguan Electric Power 600236.SS | China | $10.7B | -10% | +26% | 48% | 20.7× | -2.8% | +3.0% |
| AES AES | United States | $10.6B | +4% | +12% | 20% | 6.8× | n/a | n/a |
| Chubu Electric Power 9502.T | Japan | $11.2B | -13% | +3% | 0% | 10.3× | n/a | n/a |
| OGE Energy OGE | United States | $10.5B | +7% | +2% | 26% | 21.6× | 8.1% | +9.0% |
| Jiangsu Eastern Shenghong 000301.SZ | China | $10.3B | -22% | +4% | 7% | 12.4× | -2.1% | +28.4% |
| JSW Energy JSWENERGY.NS | India | $10.1B | -9% | +26% | 36% | 39.7× | n/a | n/a |
| Hikari Tsushin 9435.T | Japan | $10.0B | -5% | +7% | 15% | 12.5× | 6.7% | +5.6% |
| Edison EDNR.MI | Italy | $9.87B | -12% | +6% | 3% | n/a | n/a | n/a |
| Tata Power TATAPOWER.NS | India | $11.9B | -20% | -4% | 13% | 25.0× | n/a | n/a |
| Redeia Corporacion RED.MC | Spain | $9.47B | +8% | +15% | 43% | 16.7× | n/a | n/a |
| Brookfield Renewable Partners LP BEP-UN.TO | Canada | $9.41B | -7% | +7% | 11% | n/a | n/a | n/a |
| Pinnacle West Capital PNW | United States | $12.6B | +5% | +8% | 23% | 19.1× | n/a | n/a |
| Keppel BN4.SI | Singapore | $13.0B | -13% | +11% | 11% | 18.9× | 14.8% | -1.9% |
| Sichuan Chuantou Energy 600674.SS | China | $13.0B | +16% | -1% | 29% | 17.2× | 32.3% | +10.0% |
| PGE Polska Grupa Energetyczna PGE.WA | Poland | $9.02B | +47% | -2% | 12% | 5.5× | n/a | n/a |
| Huadian Power International 1071.HK | Hong Kong | $8.73B | 0% | +13% | 8% | 9.6× | n/a | n/a |
| NHPC NHPC.NS | India | $8.72B | +1% | +12% | 30% | 19.4× | n/a | n/a |
| China Res Power 0836.HK | Hong Kong | $13.5B | +6% | +2% | 18% | 9.0× | n/a | n/a |
| IDACORP IDA | United States | $8.63B | +2% | +4% | 23% | 21.7× | n/a | n/a |