Reported Earnings • Apr 30
First quarter 2026 earnings released: EPS: CN¥0.19 (vs CN¥0.23 in 1Q 2025) First quarter 2026 results: EPS: CN¥0.19 (down from CN¥0.23 in 1Q 2025). Revenue: CN¥7.87b (down 3.3% from 1Q 2025). Net income: CN¥1.62b (down 15% from 1Q 2025). Profit margin: 21% (down from 23% in 1Q 2025). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 7% per year and the company’s share price has also fallen by 7% per year. Upcoming Dividend • Apr 27
Upcoming dividend of CN¥0.063 per share Eligible shareholders must have bought the stock before 04 May 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 2.3%. Lower than top quartile of Hong Kong dividend payers (6.8%). Lower than average of industry peers (4.7%). Major Estimate Revision • Apr 08
Consensus EPS estimates fall by 27% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from CN¥34.9b to CN¥31.7b. EPS estimate also fell from CN¥0.801 per share to CN¥0.582 per share. Net income forecast to grow 7.0% next year vs 5.4% growth forecast for Renewable Energy industry in Hong Kong. Consensus price target down from HK$7.97 to HK$7.65. Share price was steady at HK$7.04 over the past week. Reported Earnings • Apr 01
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: CN¥0.54 (down from CN¥0.68 in FY 2024). Revenue: CN¥30.3b (down 3.6% from FY 2024). Net income: CN¥4.53b (down 21% from FY 2024). Profit margin: 15% (down from 18% in FY 2024). Revenue missed analyst estimates by 6.5%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 7% per year. Announcement • Apr 01
China Longyuan Power Group Corporation Limited, Annual General Meeting, Apr 29, 2026 China Longyuan Power Group Corporation Limited, Annual General Meeting, Apr 29, 2026. Announcement • Mar 31
China Longyuan Power Group Corporation Limited to Report Q1, 2026 Results on Apr 30, 2026 China Longyuan Power Group Corporation Limited announced that they will report Q1, 2026 results on Apr 30, 2026 Announcement • Dec 31
China Longyuan Power Group Corporation Limited to Report Fiscal Year 2025 Results on Apr 01, 2026 China Longyuan Power Group Corporation Limited announced that they will report fiscal year 2025 results on Apr 01, 2026 Reported Earnings • Oct 30
Third quarter 2025 earnings released: EPS: CN¥0.12 (vs CN¥0.17 in 3Q 2024) Third quarter 2025 results: EPS: CN¥0.12 (down from CN¥0.17 in 3Q 2024). Revenue: CN¥6.56b (down 12% from 3Q 2024). Net income: CN¥1.02b (down 32% from 3Q 2024). Profit margin: 16% (down from 20% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 6% per year. Announcement • Oct 29
China Longyuan Power Group Corporation Limited Announces Interim Cash Dividend for the Year 2025, Payable December 30, 2025 China Longyuan Power Group Corporation Limited announced to distribute a interim cash dividend of RMB 0.10 per share (before tax) in an aggregate amount of RMB835,981,616.40 (before tax) for the year 2025 on Tuesday, 30 December 2025 to holders of H Shares whose names appear on the register of members of the Company on Tuesday, 11 November 2025 and holders of A Shares whose names appear on the register of members of the Company on Monday, 29 December 2025. Such dividend will be paid to holders of A Shares in Renminbi and to holders of H Shares in Hong Kong dollars and to holders of H Shares for Southbound Trading in Renminbi. The actual amount of H Share dividend attributable to holders of H Shares (other than H shares for Southbound Trading) to be paid in Hong Kong dollars is calculated according to the average benchmark exchange rate between Renminbi and Hong Kong dollars as published by the People's Bank of China for five business days prior to the date of EGM (i.e. RMB0.912588 to HKD 1), being a cash dividend of HKD 0.1096 per share (before tax). Announcement • Oct 28
China Longyuan Power Group Corporation Limited Elects Liu Jintao as Employee Director China Longyuan Power Group Corporation Limited convened an employee representative meeting on October 28, 2025 and elected Mr. Liu Jintao as an employee director of the sixth session of the Board of the Company, and the qualifications for appointment and the election procedures were in compliance with the provisions of the laws, regulations and the articles of association of the Company. Mr. Liu, born in November 1971, holds a college degree, and is a second-class legal advisor of state-owned enterprises. Mr. Liu has successively served as the general manager of Longyuan Power Group (Shanghai) Wind Power Co. Ltd.; the secretary of the Party Branch and chairman of the board of directors of Longyuan Power Group (Shanghai) New Energy Co. Ltd.; the director of the Corporate Operation and Legal Affairs Department, the director of Organizational Human Resources Department (Human Resources Department) and the employee representative supervisor of the Company. He currently serves as the director of the Organizational Human Resources Department (Human Resources Department) of the Company. Mr. Liu's term of office shall be three years commencing from the date when the candidates for the sixth session of non-employee directors are elected and approved at the general meeting and the sixth session of the Board is formed. Pursuant to the Articles of Association, directors of the sixth session of the Board will be subject to re-election upon expiry of their term of office. Upcoming Dividend • Oct 28
Upcoming dividend of CN¥0.10 per share Eligible shareholders must have bought the stock before 04 November 2025. Payment date: 30 December 2025. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 2.9%. Lower than top quartile of Hong Kong dividend payers (6.7%). Lower than average of industry peers (4.2%). Announcement • Oct 15
China Longyuan Power Group Corporation Limited Proposes 2025 Interim Cash Dividend (Tax Included) China Longyuan Power Group Corporation Limited at its Extraordinary General Meeting to be held on 29 October 2025, proposed 2025 interim cash dividend (tax included) of CNY 1.00000000 per 10 shares. Announcement • Sep 30
China Longyuan Power Group Corporation Limited to Report Q3, 2025 Results on Oct 30, 2025 China Longyuan Power Group Corporation Limited announced that they will report Q3, 2025 results on Oct 30, 2025 Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$7.87, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 8x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$15.05 per share. Reported Earnings • Aug 21
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: CN¥7.52b (down 17% from 2Q 2024). Net income: CN¥1.47b (down 7.5% from 2Q 2024). Profit margin: 20% (up from 18% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Jul 02
China Longyuan Power Group Corporation Limited to Report First Half, 2025 Results on Aug 20, 2025 China Longyuan Power Group Corporation Limited announced that they will report first half, 2025 results on Aug 20, 2025 Announcement • Jun 19
China Longyuan Power Group Corporation Limited Approves Cash Dividend/10 Shares for 2024 China Longyuan Power Group Corporation Limited at its Annual General Meeting of 2024 on 17 June 2025, during which the company approved Cash dividend/10 shares (tax included): CNY 2.27800000 for 2024. Upcoming Dividend • Jun 16
Upcoming dividend of CN¥0.23 per share Eligible shareholders must have bought the stock before 23 June 2025. Payment date: 15 August 2025. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Hong Kong dividend payers (7.5%). Lower than average of industry peers (4.7%). Buy Or Sell Opportunity • May 20
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 6.1% to HK$6.75. The fair value is estimated to be HK$5.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 15% over the last 3 years. Earnings per share has declined by 2.5%. For the next 3 years, revenue is forecast to grow by 9.2% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Announcement • Apr 14
China Longyuan Power Group Corporation Limited to Report Q1, 2025 Results on Apr 28, 2025 China Longyuan Power Group Corporation Limited announced that they will report Q1, 2025 results at 12:30 PM, China Standard Time on Apr 28, 2025 Announcement • Apr 01
China Longyuan Power Group Corporation Limited Proposes Final Cash Dividend for the Year 2024 China Longyuan Power Group Corporation Limited announced on 31 March 2025 the profit distribution proposal for 2024: Cash dividend (tax included) of CNY 2.27800000 per 10 shares. Announcement • Mar 31
China Longyuan Power Group Corporation Limited, Annual General Meeting, Jun 17, 2025 China Longyuan Power Group Corporation Limited, Annual General Meeting, Jun 17, 2025. Declared Dividend • Mar 31
Dividend of CN¥0.23 announced Shareholders will receive a dividend of CN¥0.23. Ex-date: 23rd June 2025 Payment date: 15th August 2025 Dividend yield will be 3.7%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (33% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 30
Full year 2024 earnings: EPS in line with analyst expectations despite revenue beat Full year 2024 results: EPS: CN¥0.75 (up from CN¥0.74 in FY 2023). Revenue: CN¥37.1b (down 1.5% from FY 2023). Net income: CN¥6.35b (up 2.3% from FY 2023). Profit margin: 17% (in line with FY 2023). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 31% per year, which means it is performing significantly worse than earnings. Announcement • Jan 24
China Longyuan Power Group Corporation Limited Announces Changes of Employee Representative Supervisor China Longyuan Power Group Corporation Limited announced that, on 23 January 2025, the supervisory board of the Company received a written resignation report from Ms. Wu Jinmei, an employee representative supervisor of the Company, who resigned as an employee representative supervisor of the Company as she has reached the retirement age. Her resignation took effect from 23 January 2025 onwards. As nominated by the Supervisory Board, Mr. Liu Jintao was elected as an employee representative supervisor of the Company upon the election at the employee representatives' meeting of the Company, with effect from 23 January 2025 to the expiration of the term of the current session of the Supervisory Board. Mr. Liu Jintao, aged 53, is an employee representative supervisor of the Company. Mr. Liu graduated from Nanjing University with a college degree majoring in law, and is a second-class legal advisor of state-owned enterprises. Mr. Liu has successively served as the general manager of Longyuan Power Group (Shanghai) Wind Power Co. Ltd. the secretary of the Party Branch and chairman of the board of directors of Longyuan Power Group (Shanghai) New Energy Co. Ltd.; the director of the Corporate Operation and Legal Affairs Department of the Company; and the director of the Organizational Human Resources Department of the Company. Announcement • Dec 31
China Longyuan Power Group Corporation Limited to Report Fiscal Year 2024 Results on Mar 29, 2025 China Longyuan Power Group Corporation Limited announced that they will report fiscal year 2024 results on Mar 29, 2025 Announcement • Dec 20
China Longyuan Power Group Corporation Limited Approves Appointment of Mr. Wang Yong as A Non-Executive Director China Longyuan Power Group Corporation Limited approved the appointment of Mr. Wang Yong as a non-executive director of the Company. Buy Or Sell Opportunity • Dec 18
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 27% to HK$6.96. The fair value is estimated to be HK$5.77, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has declined by 6.6%. For the next 3 years, revenue is forecast to grow by 8.4% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Reported Earnings • Oct 31
Third quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.12 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.17 (up from CN¥0.12 in 3Q 2023). Revenue: CN¥7.47b (down 9.6% from 3Q 2023). Net income: CN¥1.49b (up 38% from 3Q 2023). Profit margin: 20% (up from 13% in 3Q 2023). Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Buy Or Sell Opportunity • Oct 25
Now 20% overvalued Over the last 90 days, the stock has fallen 2.5% to HK$7.08. The fair value is estimated to be HK$5.88, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.3%. For the next 3 years, revenue is forecast to grow by 7.9% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Buy Or Sell Opportunity • Oct 04
Now 21% overvalued Over the last 90 days, the stock has fallen 1.7% to HK$7.46. The fair value is estimated to be HK$6.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 8.3%. For the next 3 years, revenue is forecast to grow by 8.3% per annum. Earnings are also forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$7.02, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 7x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$6.31 per share. Announcement • Sep 30
China Longyuan Power Group Corporation Limited to Report Q3, 2024 Results on Oct 31, 2024 China Longyuan Power Group Corporation Limited announced that they will report Q3, 2024 results on Oct 31, 2024 New Risk • Sep 04
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Revenue is less than US$1m. Reported Earnings • Aug 29
Second quarter 2024 earnings released: EPS: CN¥0.17 (vs CN¥0.31 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.17 (down from CN¥0.31 in 2Q 2023). Revenue: CN¥9.01b (down 9.8% from 2Q 2023). Net income: CN¥1.43b (down 45% from 2Q 2023). Profit margin: 16% (down from 26% in 2Q 2023). Revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 27% per year, which means it is performing significantly worse than earnings. Announcement • Aug 28
China Longyuan Power Group Corporation Limited Appoints Mr. Zhang Tong as Non-Executive Director China Longyuan Power Group Corporation Limited at its EGM held on August 28, 2024 approved the appointment of Mr. Zhang Tong as a non-executive director of the Company. Announcement • Jul 24
China Longyuan Power Group Corporation Limited Announces Resignation of Ma Bingyan as Non-Executive Director China Longyuan Power Group Corporation Limited announced that, on 24 July 2024, the Company received a written resignation report from Mr. Ma Bingyan, a non-executive director of the Company, who made application to the Board for resigning as a non-executive director and a member of each of the remuneration and assessment committee and strategic committee of the Board of the Company due to age reason. Mr. Ma confirmed that he had no disagreement with the Board during his tenure of office and there was no any other matter relating to his resignation that needed to be brought to the attention of the shareholders of the Company. Buy Or Sell Opportunity • Jul 02
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 32% to HK$7.49. The fair value is estimated to be HK$6.03, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 7.9%. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Announcement • Jun 29
China Longyuan Power Group Corporation Limited to Report First Half, 2024 Results on Aug 29, 2024 China Longyuan Power Group Corporation Limited announced that they will report first half, 2024 results on Aug 29, 2024 Upcoming Dividend • Jun 05
Upcoming dividend of CN¥0.22 per share Eligible shareholders must have bought the stock before 12 June 2024. Payment date: 06 August 2024. Payout ratio is a comfortable 30% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of Hong Kong dividend payers (7.6%). In line with average of industry peers (3.5%). Buy Or Sell Opportunity • Jun 04
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to HK$7.61. The fair value is estimated to be HK$6.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.0% over the last 3 years. Earnings per share has declined by 7.9%. For the next 3 years, revenue is forecast to grow by 9.0% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Announcement • May 19
China Longyuan Power Group Corporation Limited, Annual General Meeting, Jun 06, 2024 China Longyuan Power Group Corporation Limited, Annual General Meeting, Jun 06, 2024, at 09:30 China Standard Time. Location: conference room, 3/f, block c, 6 fuchengmen north street, xicheng district, the prc, beijing China Valuation Update With 7 Day Price Move • May 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$6.52, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 6x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$6.37 per share. Declared Dividend • Apr 27
Dividend of CN¥0.22 announced Shareholders will receive a dividend of CN¥0.22. Ex-date: 12th June 2024 Payment date: 6th August 2024 Dividend yield will be 3.9%, which is lower than the industry average of 4.2%. Sustainability & Growth Dividend is covered by earnings (30% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2024 earnings released First quarter 2024 results: EPS: CN¥0.28. Revenue: CN¥9.88b (flat on 1Q 2023). Net income: CN¥2.39b (down 1.0% from 1Q 2023). Profit margin: 24% (in line with 1Q 2023). Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Renewable Energy industry in Hong Kong. Announcement • Apr 26
China Longyuan Power Group Corporation Limited Proposes Final Dividend for the Year Ended December 31, 2023. Payable on August 6, 2024 China Longyuan Power Group Corporation Limited proposed final dividend of RMB 0.2225 per share for the year ended December 31, 2023. Ex-dividend date is June 12, 2024. Record date is June 19, 2023. Payment date is August 6, 2024. Date of shareholders' approval June 6, 2024. Announcement • Apr 23
China Longyuan Power Group Corporation Limited to Report Fiscal Year 2023 Results on Apr 22, 2024 China Longyuan Power Group Corporation Limited announced that they will report fiscal year 2023 results on Apr 22, 2024 Announcement • Mar 30
China Longyuan Power Group Corporation Limited to Report Q1, 2024 Results on Apr 26, 2024 China Longyuan Power Group Corporation Limited announced that they will report Q1, 2024 results on Apr 26, 2024 Reported Earnings • Mar 28
Full year 2023 earnings released: EPS: CN¥0.73 (vs CN¥0.59 in FY 2022) Full year 2023 results: EPS: CN¥0.73 (up from CN¥0.59 in FY 2022). Revenue: CN¥37.6b (down 5.6% from FY 2022). Net income: CN¥6.25b (up 27% from FY 2022). Profit margin: 17% (up from 12% in FY 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 20% per year, which means it is performing significantly worse than earnings. Announcement • Mar 27
China Longyuan Power Group Corporation Limited Proposes Final Dividend for the Year Ended December 31, 2023 China Longyuan Power Group Corporation Limited proposed final dividend of RMB 0.2225 per share for the year ended December 31, 2023. Announcement • Feb 27
China Longyuan Power Group Corporation Limited Announces Resignation of Wang Yiguo as Non-Executive Director of the Company, Non-Executive Director and A Member of the Nomination Committee of the Board The board of directors of China Longyuan Power Group Corporation Limited hereby announced that, on 27 February 2024, the Company received a written resignation report from Mr. Wang Yiguo ("Mr. Wang"), a non-executive director of the Company, who made application to the Board for resigning as a non-executive director and a member of the nomination committee of the Board of the Company due to age reason. In accordance with laws, regulations, other normative documents and the Articles of Association of China Longyuan Power Group Corporation Limited, the resignation of Mr. Wang became effective upon his resignation report being served on the Board. With effect from 27 February 2024, Mr. Wang will no longer hold any position in the Company. Valuation Update With 7 Day Price Move • Jan 22
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$4.42, the stock trades at a forward P/E ratio of 4x. Average forward P/E is 4x in the Renewable Energy industry in Hong Kong. Total loss to shareholders of 64% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$4.88 per share. Announcement • Dec 30
China Longyuan Power Group Corporation Limited to Report Fiscal Year 2023 Results on Mar 28, 2024 China Longyuan Power Group Corporation Limited announced that they will report fiscal year 2023 results on Mar 28, 2024 New Risk • Nov 23
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 14% Last year net profit margin: 54% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Profit margins are more than 30% lower than last year (14% net profit margin). Reported Earnings • Oct 27
Third quarter 2023 earnings released Third quarter 2023 results: EPS: CN¥0.16. Revenue: CN¥9.16b (up 7.1% from 3Q 2022). Net income: CN¥1.35b (up 18% from 3Q 2022). Profit margin: 15% (up from 13% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 21
China Longyuan Power Group Corporation Limited Announces Resignation of Tian Shaolin, Non-Executive Director The board of directors of China Longyuan Power Group Corporation Limited announced that, on 20 October 2023, the Company received a written resignation report from Mr. Tian Shaolin ("Mr. Tian"), a non-executive director of the Company, who made application to the Board for resigning as a non-executive director and a member of the strategic committee of the Company as he had reached retirement age. Announcement • Aug 30
China Longyuan Power Group Corporation Limited Announces Board Changes China Longyuan Power Group Corporation Limited at its second extraordinary general meeting in 2023 was held on 29 August 2023, considered and approved the appointment of Mr. Liu Jinji as the chairman of the Supervisory Board of the Company for a term commencing from the date of consideration and approval by the Supervisory Board to the expiry of the term of office of the fifth session of the Supervisory Board to fill the vacancy left by resignation of Mr. Shao Junjie. Reported Earnings • Aug 30
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: CN¥10.7b (down 5.2% from 2Q 2022). Net income: CN¥2.71b (up 38% from 2Q 2022). Profit margin: 25% (up from 17% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Renewable Energy industry in Hong Kong. Announcement • Jul 01
China Longyuan Power Group Corporation Limited Announces the Resignation of Shao Junjie as A Supervisor and the Chairman of the Supervisory Board On 30 June 2023, the board of supervisors of China Longyuan Power Group Corporation Limited received the written resignation letter from Mr. Shao Junjie who proposed to resign as a supervisor and the chairman ofthe Supervisory Board of the Company due to age reason and would no longer hold any position in the Group after his resignation takes effect. Mr. Shao's resignation application will take effect upon the election of a new supervisor at a general meeting of the Company as his resignation will result in the number of members ofthe Supervisory Board being less than the quorum in accordance with the related regulations including the Company Law of the People's Republic of China and the articles of association of China Longyuan Power Group Corporation Limited. During this period, Mr. Shao will continue to perform his duties as a supervisor in accordance with the requirements of laws, regulations and the Articles of Association, etc. Announcement • Jun 16
Final Dividend Fchina Longyuan Power Group Corporation Limited Approves Final Dividend for the Year Ended 31 December 2022, Payable on 14 August 2023 China Longyuan Power Group Corporation Limited approved final dividend of RMB 0.1171 per share for the year ended 31 December 2022 at its annual general meeting held on 15 June 2023. Ex-dividend date is 20 June 2023. Record date is 27 June 2023. Payment date is 14 August 2023. Upcoming Dividend • Jun 13
Upcoming dividend of CN¥0.12 per share at 1.6% yield Eligible shareholders must have bought the stock before 20 June 2023. Payment date: 14 August 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Hong Kong dividend payers (7.8%). Lower than average of industry peers (4.2%). Reported Earnings • Apr 22
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: CN¥0.59 (down from CN¥0.89 in FY 2021). Revenue: CN¥39.9b (flat on FY 2021). Net income: CN¥4.90b (down 32% from FY 2021). Profit margin: 12% (down from 18% in FY 2021). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 21%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Renewable Energy industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improved over the past week After last week's 23% share price gain to HK$10.30, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 7x in the Renewable Energy industry in Hong Kong. Total returns to shareholders of 115% over the past three years.