China Resources Power Holdings Company Limited (0836.HK) stock analysis

In our weekly check, China Resources Power Holdings Company Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 4, red flags: 7.

About China Resources Power Holdings Company Limited

China Resources Power Holdings Company Limited is an Utilities company (Independent Power Producers) based in Hong Kong, listed on HKSE as 0836.HK.

What our checks show for 0836.HK

Red flags

• Net debt is 5.4x a year of EBITDA (debt/equity 1.98). That limits room in a downturn and raises refinancing risk.
• Operating profit does not cover the interest bill (0.7x): interest is paid from cash or new debt.
• Revenue fell 0.4% a year over the last 3 years.
• Free cash flow is negative (-5.4% of revenue): the business spends more cash than it brings in.
• The dividend takes 288% of profit: little cushion if profit falls.
• The stock has fallen as much as 78% from a peak. Would you have held through that?
• Pay in shares equals 0% of free cash flow: it dilutes shareholders.

Warning signs

• Analysts expect earnings per share to shrink about 1.6% a year.
• Analysts expect the net margin to shrink by 2.8 points from today's 14.5%.
• The stock is still below its previous peak.
• Return on capital (ROCE) is only 5.5%.

Strengths

• The net margin rose by 12.1 points over 5 years, to 14.5%.
• The gross margin is 26.2% and has risen by 18.3 points: pricing power is holding.
• Operating cash flow is 2.82x net profit: the profit arrives as real cash.
• Earnings per share grew 24.2% a year over the last 3 years.
• Net profit grew 28.1% a year over the last 3 years.
• A large company: market value $12.26 billion.

Similar companies

CEG · 0006.HK · VST · 1816.HK · NRG · TLN

Questions

What grade does China Resources Power Holdings Company Limited (0836.HK) have?

In our weekly check, China Resources Power Holdings Company Limited is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 4, red flags: 7. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of 0836.HK stock?

This week's biggest flags for China Resources Power Holdings Company Limited: High debt, Weak interest cover, Weak revenue growth. In total 11 of 25 checks show a warning or a red flag.

What does China Resources Power Holdings Company Limited do?

China Resources Power Holdings Company Limited is an Utilities company (Independent Power Producers) based in Hong Kong, listed on HKSE as 0836.HK.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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