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Jiangsu-based developer and operator of wind and solar power projects selling electricity to the grid.
Jiangsu-based developer and operator of wind and solar power projects selling electricity to the grid.
Moat: none. Renewable generation with regulated tariffs and subsidy dependence limits pricing power.
Headquarters: Nanjing, Jiangsu, China · Employees: 566
Size Jiangsu New Energy Development (603693.SS) is a China Utilities company (Electric Utilities) with a market value of $1.56B, the 1574th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥11.70 on 6 Nov 2026.
Performance Over six months the shares fell 20.6%, against -19.8% for the median peer and -16.4% for the China market (cap-weighted) — 10th lowest of 20 in its peer set.
Growth Revenue fell 3.3% over the last twelve months (peer median +1.3%); the operating margin is 35.1% (peer median 8.0%).
Valuation It trades at 20.9× forward earnings against a peer median of 10.1× (3rd most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.4 points above its cost of capital (5.4% WACC).
Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥1.99B | CN¥2.07B | CN¥2.08B | CN¥1.94B | CN¥1.96B |
| Revenue growth | — | 0% | +7% | -1% | — |
| Gross profit | CN¥1.51B | CN¥1.01B | CN¥1.04B | CN¥943M | CN¥968M |
| EBITDA | n/a | CN¥1.56B | CN¥1.43B | CN¥1.45B | CN¥1.51B |
| Net income | CN¥346M | CN¥507M | CN¥417M | CN¥472M | CN¥476M |
| Free cash flow | CN¥635M | CN¥464M | CN¥123M | CN¥104M | CN¥756M |
| Capital expenditure | CN¥447M | CN¥689M | CN¥877M | CN¥815M | CN¥610M |
| Total debt | CN¥8.16B | CN¥8.26B | CN¥8.42B | CN¥7.56B | CN¥7.08B |
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.
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 | 603693.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.3% | -3.3% | 8th lowest of 21 |
| 6-month return | -20.6% | -19.8% | 10th lowest of 20 |
| Distance from 52-week high | -42.6% | -36.2% | 6th lowest of 21 |
| Revenue growth (TTM) | -3.3% | +1.3% | 7th lowest of 21 |
| Operating margin | 35.1% | 8.0% | highest of 21 |
| Forward P/E | 20.9× | 10.1× | 3rd most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 0.7% | -2.5% | 7th most demanding of 16 |
| Growth delivered (Del g) | +6.1% | +7.2% | 7th lowest of 16 |
| Hurdle (Req g minus delivered) | -5.4 pp | -11.1 pp | 8th most demanding of 16 |
| ROIC minus cost of capital | +0.4 pp | -0.0 pp | 10th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jiangsu New Energy Development 603693.SS | China | $1.56B | -21% | -3% | 35% | 20.9× | 0.7% | +6.1% |
| Harbin Hatou Investment 600864.SS | China | $1.56B | -18% | 0% | -17% | n/a | -17.2% | -3.8% |
| Nava NAVA.NS | India | $1.59B | -26% | +9% | 29% | n/a | 19.8% | +11.0% |
| Dynagreen Environmental Protection 1330.HK | Hong Kong | $1.59B | +8% | +17% | 31% | 10.3× | -2.7% | +8.4% |
| Central Puerto SA Sponsored ADR CEPU | United States | $1.64B | -29% | +51% | 29% | 5.0× | -5.0% | +10.3% |
| Vedanta Power VEDPOWER.NS | India | $1.46B | n/a | +5% | -13% | n/a | n/a | n/a |
| Romande Energie REHN.SW | Switzerland | $1.68B | -1% | +2% | 8% | 15.1× | 7.4% | +7.2% |
| Hawaiian Electric Industries HE | United States | $1.45B | -43% | +2% | 11% | 5.2× | n/a | n/a |
| Chongqing Three Gorges Water Conservancy and Electric Power 600116.SS | China | $1.73B | -8% | +4% | 6% | 18.8× | -2.5% | +14.1% |
| Beijing Jingneng Clean Energy 0579.HK | Hong Kong | $1.74B | -27% | -1% | 18% | 4.7× | -1.0% | +3.5% |
| Jinneng Holding Shanxi Electric Power 000767.SZ | China | $1.40B | -20% | -6% | 6% | n/a | 2.5% | +5.6% |
| Xinjiang Tianfu Energy 600509.SS | China | $1.40B | -16% | +9% | 7% | 14.7× | -4.3% | +11.5% |
| Hokkaido Electric Power Company,Incorporated 9509.T | Japan | $1.38B | +5% | -1% | 4% | 7.3× | n/a | n/a |
| CESC CESC.NS | India | $1.77B | -32% | +9% | 12% | 9.9× | n/a | n/a |
| Hokuriku Electric Power 9505.T | Japan | $1.34B | +16% | -5% | 7% | 7.6× | 8.4% | +3.7% |
| Datang Huayin Electric Power 600744.SS | China | $1.83B | -30% | -10% | 6% | 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% |
| Electricite de Strasbourg ELEC.PA | France | $1.29B | -34% | -10% | 8% | n/a | -10.7% | +11.1% |
| Jiangxi Ganneng 000899.SZ | China | $1.26B | -31% | +24% | 13% | 7.4× | -4.4% | +22.6% |
| CHN Energy Changyuan Electric Power 000966.SZ | China | $1.99B | -16% | -9% | 1% | 22.4× | 6.6% | +6.2% |
| Chongqing Fuling Electric Power Industrial 600452.SS | China | $2.00B | -25% | -7% | 17% | 22.9× | 3.6% | +2.4% |