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SHA/600863 (SHA/600863)

Shanghai Stock Exchange: SHA/600863 · CNY

CN¥5.13

+0.18 (+3.6%)· Recorded snapshot

Market cap	40.2B
Revenue (ttm)	19.4B
Net income (ttm)	1.9B
EPS (ttm)	CN¥0.25
Shares out	7.8B
P/E (trailing)	20.8x
P/E (forward)	15.1x
Dividend	CN¥0.22 (4.29%)
Volume	101,996,854
Beta	0.43

Market data

Price

Recent price action with selectable time range.

Metric	Value
Amount currency	CNY
Country	China
Country code	CN
Earnings date	2026-10-28
Employees	5,475
Employees change	-69
Employees growth	-1.24%
Enterprise value	CNY 61B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-09-30
First seen	2026-05-10
Fiscal year end	December
Founded	1994
Industry	Utilities - Independent Power Producers
Is primary listing	Yes
ISIN number	CNE000000GN6
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Last stock split date	2014-07-25
Last stock split type	Forward
Market cap	CNY 40.2B
Next earnings date	2026-10-28
Price	CNY 5.13
Price currency	CNY
Sector	Utilities
SIC code	4991
Stock price date	2026-10-28
Symbol	sha/600863
Website	https://www.nmhdwz.com

Metric

Value

Amount currency

CNY

Country

China

Country code

Earnings date

2026-10-28

Employees

5,475

Employees change

-69

Employees growth

-1.24%

Enterprise value

CNY 61B

Exchange

Shanghai Stock Exchange

Financial currency

CNY

Financial report date

2026-09-30

First seen

2026-05-10

Fiscal year end

December

Founded

1994

Industry

Utilities - Independent Power Producers

Is primary listing

Yes

ISIN number

CNE000000GN6

Last earnings date

2026-10-28

Last refreshed

2026-10-28

Last stock split date

2014-07-25

Last stock split type

Forward

Market cap

CNY 40.2B

Next earnings date

2026-10-28

Price

CNY 5.13

Price currency

CNY

Sector

Utilities

SIC code

4991

Stock price date

2026-10-28

Symbol

sha/600863

Website

https://www.nmhdwz.com

Metric	Value
Average P/E ratio (10Y)	72.53x
Average P/E ratio (3Y)	13.31x
Average P/E ratio (5Y)	17.34x
Earnings yield	4.8%
EV/Earnings	32.4x
EV/EBIT	21.26x
EV/EBITDA	12.03x
EV/FCF	43.12x
EV/Sales	3.15x
FCF / EV yield	2.32%
FCF yield	3.52%
Forward P/E	15.09x
Graham number	4.0211
Graham upside	-21.62%
Industry P/E	16.48x
Lynch fair value	CNY 6.15
Lynch upside	19.91%
P/B ratio	1.4x
P/E ratio	20.85x
P/FCF ratio	28.39x
P/OCF ratio	6.85x
P/S ratio	2.07x
Price / tangible book value	2.39x
Price/EBITDA ratio	8.01x
Sector forward P/E	16.74x
Sector P/E	21.59x

Metric

Value

Average P/E ratio (10Y)

72.53x

Average P/E ratio (3Y)

13.31x

Average P/E ratio (5Y)

17.34x

Earnings yield

4.8%

EV/Earnings

32.4x

EV/EBIT

21.26x

EV/EBITDA

12.03x

EV/FCF

43.12x

EV/Sales

3.15x

FCF / EV yield

2.32%

FCF yield

3.52%

Forward P/E

15.09x

Graham number

4.0211

Graham upside

-21.62%

Industry P/E

16.48x

Lynch fair value

CNY 6.15

Lynch upside

19.91%

P/B ratio

1.4x

P/E ratio

20.85x

P/FCF ratio

28.39x

P/OCF ratio

6.85x

P/S ratio

2.07x

Price / tangible book value

2.39x

Price/EBITDA ratio

8.01x

Sector forward P/E

16.74x

Sector P/E

21.59x

Metric	Value
EBIT margin	14.81%
EBITDA margin	25.88%
Effective tax rate	15.78%
FCF margin	7.3%
Gross margin	19.26%
Operating margin	14.81%
Pretax margin	12.77%
Profit margin	9.9%
Profit per employee	CNY 344,158
Profitable quarters	6
Profitable years	17
Revenue per employee	CNY 3.5M
ROA	3.92%
ROA (5Y)	4.84%
ROCE	7.49%
ROE	7.74%
ROE (5Y)	9.24%
ROIC	4.51%
Tax / revenue	2.02%

Metric

Value

EBIT margin

14.81%

EBITDA margin

25.88%

Effective tax rate

15.78%

FCF margin

7.3%

Gross margin

19.26%

Operating margin

14.81%

Pretax margin

12.77%

Profit margin

9.9%

Profit per employee

CNY 344,158

Profitable quarters

Profitable years

Revenue per employee

CNY 3.5M

ROA

3.92%

ROA (5Y)

4.84%

ROCE

7.49%

ROE

7.74%

ROE (5Y)

9.24%

ROIC

4.51%

Tax / revenue

2.02%

Metric	Value
EPS growth	-37.96%
EPS growth (Q)	-30.88%
EPS growth (QoQ)	-29.55%
EPS growth 10Y	16.73%
EPS growth 3Y	-11.01%
EPS growth 5Y	191.25%
EPS growth years	0
FCF growth	-45.75%
FCF growth (Q)	-38.32%
FCF growth (QoQ)	64.98%
FCF growth 3Y	-19.51%
FCF growth 5Y	-3.23%
Net income growth	-38.88%
Net income growth (Q)	-22.41%
Net income growth (QoQ)	-37.19%
Net income growth 3Y	-6%
Net income growth 5Y	174.88%
Net income growth years	4
OCF growth	-22.16%
OCF growth (Q)	-13.07%
OCF growth (QoQ)	12.07%
OCF growth 10Y	10.19%
OCF growth 3Y	4.35%
OCF growth 5Y	14.9%
Revenue growth	-16.15%
Revenue growth (Q)	-1.14%
Revenue growth (QoQ)	19.49%
Revenue growth 10Y	8.1%
Revenue growth 3Y	-5.27%
Revenue growth 5Y	2.29%
Revenue growth years	0

Metric

Value

EPS growth

-37.96%

EPS growth (Q)

-30.88%

EPS growth (QoQ)

-29.55%

EPS growth 10Y

16.73%

EPS growth 3Y

-11.01%

EPS growth 5Y

191.25%

EPS growth years

FCF growth

-45.75%

FCF growth (Q)

-38.32%

FCF growth (QoQ)

64.98%

FCF growth 3Y

-19.51%

FCF growth 5Y

-3.23%

Net income growth

-38.88%

Net income growth (Q)

-22.41%

Net income growth (QoQ)

-37.19%

Net income growth 3Y

-6%

Net income growth 5Y

174.88%

Net income growth years

OCF growth

-22.16%

OCF growth (Q)

-13.07%

OCF growth (QoQ)

12.07%

OCF growth 10Y

10.19%

OCF growth 3Y

4.35%

OCF growth 5Y

14.9%

Revenue growth

-16.15%

Revenue growth (Q)

-1.14%

Revenue growth (QoQ)

19.49%

Revenue growth 10Y

8.1%

Revenue growth 3Y

-5.27%

Revenue growth 5Y

2.29%

Revenue growth years

Metric	Value
Capital expenditures	CNY -4.5B
EBIT	CNY 2.9B
EBITDA	CNY 5B
EPS	CNY 0.25
FCF per share	CNY 0.18
Financing cash flow	CNY -466.3M
Free cash flow	CNY 1.4B
Gross profit	CNY 3.7B
Income taxes	CNY 391M
Investing cash flow	CNY -6B
Net borrowing	CNY -159M
Net cash flow	CNY -556.1M
Net income	CNY 1.9B
Operating income	CNY 2.9B
Revenue	CNY 19.4B

Metric

Value

Capital expenditures

CNY -4.5B

EBIT

CNY 2.9B

EBITDA

CNY 5B

EPS

CNY 0.25

FCF per share

CNY 0.18

Financing cash flow

CNY -466.3M

Free cash flow

CNY 1.4B

Gross profit

CNY 3.7B

Income taxes

CNY 391M

Investing cash flow

CNY -6B

Net borrowing

CNY -159M

Net cash flow

CNY -556.1M

Net income

CNY 1.9B

Operating income

CNY 2.9B

Revenue

CNY 19.4B

Metric	Value
Book value per share	CNY 2.92
Debt / EBITDA	2.89
Debt / equity	0.51
Debt / FCF	10.35
Goodwill	CNY 30.4M
Interest coverage	39.24
Long-term assets	CNY 43.7B
Long-term liabilities	CNY 9.6B
Net cash (debt)	CNY -13.6B
Net cash / market cap	-33.73%
Net debt / EBITDA	2.7
Net debt / equity	0.47
Net debt / FCF	9.58
Piotroski F-Score	4
Property, plant and equipment	CNY 32B
Shareholders' equity	CNY 28.7B
Tangible book value	CNY 16.8B
Tangible book value per share	CNY 2.30
Total assets	CNY 50.7B
Total cash	CNY 1.1B
Total debt	CNY 14.6B
Total liabilities	CNY 22B
WACC	4.98%

Metric

Value

Book value per share

CNY 2.92

Debt / EBITDA

2.89

Debt / equity

0.51

Debt / FCF

10.35

Goodwill

CNY 30.4M

Interest coverage

39.24

Long-term assets

CNY 43.7B

Long-term liabilities

CNY 9.6B

Net cash (debt)

CNY -13.6B

Net cash / market cap

-33.73%

Net debt / EBITDA

2.7

Net debt / equity

0.47

Net debt / FCF

9.58

Piotroski F-Score

Property, plant and equipment

CNY 32B

Shareholders' equity

CNY 28.7B

Tangible book value

CNY 16.8B

Tangible book value per share

CNY 2.30

Total assets

CNY 50.7B

Total cash

CNY 1.1B

Total debt

CNY 14.6B

Total liabilities

CNY 22B

WACC

4.98%

Metric	Value
Asset turnover	0.42
Current assets	CNY 7B
Current liabilities	CNY 12.4B
Current ratio	0.57
Inventory turnover	35.58
Net working capital	CNY -641.9M
Quick ratio	0.46
Working capital	CNY -5.4B
Working capital turnover	-5.44

Metric

Value

Asset turnover

0.42

Current assets

CNY 7B

Current liabilities

CNY 12.4B

Current ratio

0.57

Inventory turnover

35.58

Net working capital

CNY -641.9M

Quick ratio

0.46

Working capital

CNY -5.4B

Working capital turnover

-5.44

Metric	Value
Buyback yield / dilution	2.9%
Dividend growth	0%
Dividend growth (10Y)	13.87%
Dividend growth (3Y)	10.29%
Dividend growth (5Y)	11.79%
Dividend growth years	3
Dividend payment date	2026-07-28
Dividend payment years	15
Dividend payout frequency	Annual
Dividend per share	CNY 0.22
Dividend yield	4.29%
Ex-dividend date	2026-07-28
FCF payout ratio	87.95%
Last dividend	CNY 0.22
Payout ratio	108.48%
Shareholder yield	7.18%

Metric

Value

Buyback yield / dilution

2.9%

Dividend growth

Dividend growth (10Y)

13.87%

Dividend growth (3Y)

10.29%

Dividend growth (5Y)

11.79%

Dividend growth years

Dividend payment date

2026-07-28

Dividend payment years

Dividend payout frequency

Annual

Dividend per share

CNY 0.22

Dividend yield

4.29%

Ex-dividend date

2026-07-28

FCF payout ratio

87.95%

Last dividend

CNY 0.22

Payout ratio

108.48%

Shareholder yield

7.18%

Metric	Value
10Y price change	59.81%
10Y return CAGR	8.67%
10Y total return	129.6%
150-day SMA	CNY 5.07
15Y price change	39.55%
15Y return CAGR	6.02%
15Y total return	140.24%
1D price change	3.64%
1M price change	10.56%
1M total return	10.56%
1W price change	-0.39%
1W total return	-0.39%
1Y price change	21.28%
1Y return CAGR	26.93%
1Y total return	26.91%
20-day SMA	CNY 5.01
200-day SMA	CNY 5.02
20Y price change	343.77%
20Y return CAGR	10.9%
20Y total return	692.07%
3M price change	3.43%
3M total return	8.23%
3Y price change	42.11%
3Y return CAGR	17.78%
3Y total return	63.4%
50-day SMA	CNY 4.87
50-day SMA vs 200-day SMA	50under200
52-week high	CNY 8.03
52-week high date	2026-06-01
52-week low	CNY 4.21
52-week low date	2025-10-31
5Y price change	29.55%
5Y return CAGR	9.89%
5Y total return	60.21%
6M price change	12.5%
6M total return	17.72%
All-time high	CNY 9.35
All-time high date	2015-06-25
All-time low	CNY 0.63
All-time low date	1996-09-12
Average true range (ATR)	CNY 0.18
Average volume	114.6M
Beta (1Y)	0.56
Beta (2Y)	0.48
Beta (5Y)	0.43
Change from 52-week high	-36.11%
Change from 52-week low	21.85%
Change from all-time high	-45.13%
Change from all-time low	709.53%
Change from open	4.27%
Day's gap	-0.61%
Dollar volume	CNY 523.2M
High price	CNY 5.21
Low price	CNY 4.92
Monthly RSI	54.12
Open price	CNY 4.92
Position in 52-week range	72.41%
Previous close	CNY 4.95
Price vs 150-day SMA	1.24%
Price vs 20-day SMA	2.48%
Price vs 200-day SMA	2.23%
Price vs 50-day SMA	5.38%
Relative volume	0.9
RSI	56.8
Sharpe ratio	0.65
Sharpe ratio (3Y)	0.61
Sharpe ratio (5Y)	0.61
Sortino ratio	1.21
Sortino ratio (3Y)	1.14
Sortino ratio (5Y)	1.12
Volume	102M
Weekly RSI	53.07
YTD price change	14.51%
YTD total return	19.82%

Metric

Value

10Y price change

59.81%

10Y return CAGR

8.67%

10Y total return

129.6%

150-day SMA

CNY 5.07

15Y price change

39.55%

15Y return CAGR

6.02%

15Y total return

140.24%

1D price change

3.64%

1M price change

10.56%

1M total return

10.56%

1W price change

-0.39%

1W total return

-0.39%

1Y price change

21.28%

1Y return CAGR

26.93%

1Y total return

26.91%

20-day SMA

CNY 5.01

200-day SMA

CNY 5.02

20Y price change

343.77%

20Y return CAGR

10.9%

20Y total return

692.07%

3M price change

3.43%

3M total return

8.23%

3Y price change

42.11%

3Y return CAGR

17.78%

3Y total return

63.4%

50-day SMA

CNY 4.87

50-day SMA vs 200-day SMA

50under200

52-week high

CNY 8.03

52-week high date

2026-06-01

52-week low

CNY 4.21

52-week low date

2025-10-31

5Y price change

29.55%

5Y return CAGR

9.89%

5Y total return

60.21%

6M price change

12.5%

6M total return

17.72%

All-time high

CNY 9.35

All-time high date

2015-06-25

All-time low

CNY 0.63

All-time low date

1996-09-12

Average true range (ATR)

CNY 0.18

Average volume

114.6M

Beta (1Y)

0.56

Beta (2Y)

0.48

Beta (5Y)

0.43

Change from 52-week high

-36.11%

Change from 52-week low

21.85%

Change from all-time high

-45.13%

Change from all-time low

709.53%

Change from open

4.27%

Day's gap

-0.61%

Dollar volume

CNY 523.2M

High price

CNY 5.21

Low price

CNY 4.92

Monthly RSI

54.12

Open price

CNY 4.92

Position in 52-week range

72.41%

Previous close

CNY 4.95

Price vs 150-day SMA

1.24%

Price vs 20-day SMA

2.48%

Price vs 200-day SMA

2.23%

Price vs 50-day SMA

5.38%

Relative volume

0.9

RSI

56.8

Sharpe ratio

0.65

Sharpe ratio (3Y)

0.61

Sharpe ratio (5Y)

0.61

Sortino ratio

1.21

Sortino ratio (3Y)

1.14

Sortino ratio (5Y)

1.12

Volume

102M

Weekly RSI

53.07

YTD price change

14.51%

YTD total return

19.82%

Metric	Value
Float	3.7B
Shares change (QoQ)	-10.84%
Shares change (YoY)	-2.9%
Shares held by institutions	14.69%
Shares outstanding	7.8B

Metric

Value

Float

3.7B

Shares change (QoQ)

-10.84%

Shares change (YoY)

-2.9%

Shares held by institutions

14.69%

Shares outstanding

7.8B

SHA/600863 (SHA/600863)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600863

Valuation

Profitability

Balance sheet

Trading

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Sector percentile context

All SHA/600863 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

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Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on SHA/600863

Frequently asked questions