SHA/600032 (SHA/600032)

Shanghai Stock Exchange: SHA/600032 · CNY

CN¥6.95

+0.08 (+1.2%)· Recorded snapshot

Market cap	16.7B
Revenue (ttm)	4.6B
Net income (ttm)	370.2M
EPS (ttm)	CN¥0.15
Shares out	2.4B
P/E (trailing)	45.2x
Dividend	CN¥0.05 (0.68%)
Volume	19,712,171
Beta	0.35

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 4.6B
Net income (ttm): 370.2M
EPS (ttm): CN¥0.15
P/E (trailing): 45.2x
Market cap: 16.7B

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/En/a

P25 n/aP50 n/aP75 n/a

Trailing P/E45.2

P25 n/aP50 n/aP75 n/a

ROE3

P25 n/aP50 n/aP75 n/a

ROIC1.6

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

S&P 500+0.8%

Nasdaq Composite-1.0%

Dow Jones Industrial Average+1.9%

Russell 2000+0.3%

All SHA/600032 indicators

Market & fundamental data

Available fields

228

Groups with data

Currency

CNY

Showing 228 of 228 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	CNY
Country	China
Country code	CN
Earnings date	2026-10-29
Employees	1,135
Employees change	144
Employees growth	14.53%
Enterprise value	CNY 56.2B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-09-30
First seen	2026-05-10
Fiscal year end	December
Founded	2002
Industry	Utilities - Renewable
Is primary listing	Yes
ISIN number	CNE1000051S5
Last earnings date	2026-08-28
Last refreshed	2026-10-28
Market cap	CNY 16.7B
Next earnings date	2026-10-29
Price	CNY 6.95
Price currency	CNY
Sector	Utilities
SIC code	4911
Stock price date	2026-10-28
Symbol	sha/600032

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Average P/E ratio (3Y)	36.66x
Average P/E ratio (5Y)	38.86x
Earnings yield	2.21%
EV/Earnings	151.89x
EV/EBIT	39.4x
EV/EBITDA	14.56x
EV/FCF	17.57x
EV/Sales	12.1x
FCF / EV yield	5.69%
FCF yield	19.15%
Graham number	4.3185
Graham upside	-37.86%
Industry forward P/E	19.46x
Industry P/E	23.04x
Lynch fair value	CNY 0.77
Lynch upside	-88.93%
P/B ratio	0.85x
P/E ratio	45.16x
P/FCF ratio	5.22x
P/OCF ratio	3.54x
P/S ratio	3.6x
Price / tangible book value	1.34x
Price/EBITDA ratio	4.4x
Sector forward P/E	16.74x
Sector P/E	21.59x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	30.71%
EBITDA margin	81.74%
Effective tax rate	19.06%
FCF margin	68.9%
Gross margin	35.69%
Operating margin	30.71%
Pretax margin	15.36%
Profit margin	7.97%
Profit per employee	CNY 326,155
Profitable quarters	2
Profitable years	10
Revenue per employee	CNY 4.1M
ROA	1.51%
ROA (5Y)	2.3%
ROCE	2.95%
ROE	2.97%
ROE (5Y)	6.42%
ROIC	1.61%
Tax / revenue	2.93%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-10.16%
EPS growth (Q)	-38.65%
EPS growth (QoQ)	349.23%
EPS growth 3Y	-4.77%
EPS growth 5Y	-4.77%
EPS growth years	0
FCF growth	797.98%
FCF growth (QoQ)	291.66%
Net income growth	-10.12%
Net income growth (Q)	-38.62%
Net income growth (QoQ)	349.02%
Net income growth 3Y	-0.9%
Net income growth 5Y	1.4%
Net income growth years	0
OCF growth	58.54%
OCF growth (Q)	49.57%
OCF growth (QoQ)	150.46%
OCF growth 3Y	18.01%
OCF growth 5Y	32.18%
Revenue growth	-3.63%
Revenue growth (Q)	-8.23%
Revenue growth (QoQ)	24.38%
Revenue growth 3Y	2.41%
Revenue growth 5Y	13.29%
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	CNY -1.5B
EBIT	CNY 1.4B
EBITDA	CNY 3.8B
EPS	CNY 0.15
FCF per share	CNY 1.33
Financing cash flow	CNY -2.6B
Free cash flow	CNY 3.2B
Gross profit	CNY 1.7B
Income taxes	CNY 136.1M
Investing cash flow	CNY -1.7B
Net borrowing	CNY -1.5B
Net cash flow	CNY 419.6M
Net income	CNY 370.2M
Operating income	CNY 1.4B
Revenue	CNY 4.6B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	CNY 5.39
Debt / EBITDA	9.07
Debt / equity	1.78
Debt / FCF	10.94
Goodwill	CNY 20.9M
Interest coverage	1.5
Long-term assets	CNY 46B
Long-term liabilities	CNY 28.7B
Net cash (debt)	CNY -32.8B
Net cash / market cap	-196.05%
Net debt / EBITDA	8.63
Net debt / equity	1.66
Net debt / FCF	10.24
Piotroski F-Score	4
Property, plant and equipment	CNY 39.4B
Shareholders' equity	CNY 19.7B
Tangible book value	CNY 12.5B
Tangible book value per share	CNY 5.21
Total assets	CNY 58.1B
Total cash	CNY 2.3B
Total debt	CNY 35B
Total liabilities	CNY 38.4B
WACC	3.47%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.08
Current assets	CNY 12B
Current liabilities	CNY 9.6B
Current ratio	1.25
Inventory turnover	323.07
Net working capital	CNY 6.7B
Quick ratio	1.14
Working capital	CNY 2.4B
Working capital turnover	1.72

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-0.04%
Dividend growth	-9.62%
Dividend growth (3Y)	-12.1%
Dividend growth years	0
Dividend payment date	2026-09-21
Dividend payment years	5
Dividend payout frequency	Semi-Annual
Dividend per share	CNY 0.05
Dividend yield	0.68%
Ex-dividend date	2026-09-21
FCF payout ratio	3.53%
Last dividend	CNY 0.02
Payout ratio	259.25%
Shareholder yield	0.63%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
150-day SMA	CNY 8.41
1D price change	1.16%
1M price change	3.11%
1M total return	3.11%
1W price change	-6.95%
1W total return	-6.95%
1Y price change	-8.3%
1Y return CAGR	-7.77%
1Y total return	-7.76%
20-day SMA	CNY 7.31
200-day SMA	CNY 8.32
3M price change	-5.69%
3M total return	-5.42%
3Y price change	-18.21%
3Y return CAGR	-5.52%
3Y total return	-15.65%
50-day SMA	CNY 7.12
50-day SMA vs 200-day SMA	50under200
52-week high	CNY 14.10
52-week high date	2026-03-26
52-week low	CNY 6.30
52-week low date	2026-07-09
5Y price change	-58.2%
5Y return CAGR	-15.35%
5Y total return	-56.52%
6M price change	-35.97%
6M total return	-35.59%
All-time high	CNY 19.70
All-time high date	2021-09-27
All-time low	CNY 4.21
All-time low date	2021-05-25
Average true range (ATR)	CNY 0.33
Average volume	50.5M
Beta (1Y)	0.21
Beta (2Y)	0.1
Beta (5Y)	0.35
Change from 52-week high	-50.71%
Change from 52-week low	10.32%
Change from all-time high	-64.67%
Change from all-time low	65.32%
Change from open	1.02%
Day's gap	0.15%
Dollar volume	CNY 137M
High price	CNY 6.99
Low price	CNY 6.83
Monthly RSI	44.08
Open price	CNY 6.88
Position in 52-week range	75%
Previous close	CNY 6.87
Price vs 150-day SMA	-17.24%
Price vs 20-day SMA	-4.83%
Price vs 200-day SMA	-16.33%
Price vs 50-day SMA	-2.19%
Relative volume	0.39
RSI	44.63
Sharpe ratio	0.05
Sharpe ratio (3Y)	-0.19
Sharpe ratio (5Y)	-0.06
Sortino ratio	0.2
Sortino ratio (3Y)	-0.13
Sortino ratio (5Y)	0.05
Volume	19.7M
Weekly RSI	43.07
YTD price change	-6.07%
YTD total return	-5.52%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	466.3M
Shares change (QoQ)	-0.05%
Shares change (YoY)	0.04%
Shares held by insiders	0%
Shares held by institutions	3.99%
Shares outstanding	2.4B

Deeper analysis on SHA/600032

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Six-factor overlay and 9-category weighted scorecard.

→

Recommendation

Final action, action steps, opportunity, and biggest risk.

→

Perspectives

Growth, value, and income investor reads.

→

Frequently asked questions

About this SHA/600032 report

Is a complete SHA/600032 research report available?

No complete published report is available for sha/600032 (SHA/600032) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

Market cap

16.7B

Revenue (ttm)

4.6B

Net income (ttm)

370.2M

EPS (ttm)

CN¥0.15

Shares out

2.4B

P/E (trailing)

45.2x

Dividend

CN¥0.05 (0.68%)

Volume

19,712,171

Beta

0.35

Metric

Value

Amount currency

CNY

Country

China

Country code

Earnings date

2026-10-29

Employees

1,135

Employees change

144

Employees growth

14.53%

Enterprise value

CNY 56.2B

Exchange

Shanghai Stock Exchange

Financial currency

CNY

Financial report date

2026-09-30

First seen

2026-05-10

Fiscal year end

December

Founded

2002

Industry

Utilities - Renewable

Is primary listing

Yes

ISIN number

CNE1000051S5

Last earnings date

2026-08-28

Last refreshed

2026-10-28

Market cap

CNY 16.7B

Next earnings date

2026-10-29

Price

CNY 6.95

Price currency

CNY

Sector

Utilities

SIC code

4911

Stock price date

2026-10-28

Symbol

sha/600032

Metric

Value

Average P/E ratio (3Y)

36.66x

Average P/E ratio (5Y)

38.86x

Earnings yield

2.21%

EV/Earnings

151.89x

EV/EBIT

39.4x

EV/EBITDA

14.56x

EV/FCF

17.57x

EV/Sales

12.1x

FCF / EV yield

5.69%

FCF yield

19.15%

Graham number

4.3185

Graham upside

-37.86%

Industry forward P/E

19.46x

Industry P/E

23.04x

Lynch fair value

CNY 0.77

Lynch upside

-88.93%

P/B ratio

0.85x

P/E ratio

45.16x

P/FCF ratio

5.22x

P/OCF ratio

3.54x

P/S ratio

3.6x

Price / tangible book value

1.34x

Price/EBITDA ratio

4.4x

Sector forward P/E

16.74x

Sector P/E

21.59x

Metric

Value

EBIT margin

30.71%

EBITDA margin

81.74%

Effective tax rate

19.06%

FCF margin

68.9%

Gross margin

35.69%

Operating margin

30.71%

Pretax margin

15.36%

Profit margin

7.97%

Profit per employee

CNY 326,155

Profitable quarters

Profitable years

Revenue per employee

CNY 4.1M

ROA

1.51%

ROA (5Y)

2.3%

ROCE

2.95%

ROE

2.97%

ROE (5Y)

6.42%

ROIC

1.61%

Tax / revenue

2.93%

Metric

Value

EPS growth

-10.16%

EPS growth (Q)

-38.65%

EPS growth (QoQ)

349.23%

EPS growth 3Y

-4.77%

EPS growth 5Y

-4.77%

EPS growth years

FCF growth

797.98%

FCF growth (QoQ)

291.66%

Net income growth

-10.12%

Net income growth (Q)

-38.62%

Net income growth (QoQ)

349.02%

Net income growth 3Y

-0.9%

Net income growth 5Y

1.4%

Net income growth years

OCF growth

58.54%

OCF growth (Q)

49.57%

OCF growth (QoQ)

150.46%

OCF growth 3Y

18.01%

OCF growth 5Y

32.18%

Revenue growth

-3.63%

Revenue growth (Q)

-8.23%

Revenue growth (QoQ)

24.38%

Revenue growth 3Y

2.41%

Revenue growth 5Y

13.29%

Revenue growth years

Metric

Value

Capital expenditures

CNY -1.5B

EBIT

CNY 1.4B

EBITDA

CNY 3.8B

EPS

CNY 0.15

FCF per share

CNY 1.33

Financing cash flow

CNY -2.6B

Free cash flow

CNY 3.2B

Gross profit

CNY 1.7B

Income taxes

CNY 136.1M

Investing cash flow

CNY -1.7B

Net borrowing

CNY -1.5B

Net cash flow

CNY 419.6M

Net income

CNY 370.2M

Operating income

CNY 1.4B

Revenue

CNY 4.6B

Metric

Value

Book value per share

CNY 5.39

Debt / EBITDA

9.07

Debt / equity

1.78

Debt / FCF

10.94

Goodwill

CNY 20.9M

Interest coverage

1.5

Long-term assets

CNY 46B

Long-term liabilities

CNY 28.7B

Net cash (debt)

CNY -32.8B

Net cash / market cap

-196.05%

Net debt / EBITDA

8.63

Net debt / equity

1.66

Net debt / FCF

10.24

Piotroski F-Score

Property, plant and equipment

CNY 39.4B

Shareholders' equity

CNY 19.7B

Tangible book value

CNY 12.5B

Tangible book value per share

CNY 5.21

Total assets

CNY 58.1B

Total cash

CNY 2.3B

Total debt

CNY 35B

Total liabilities

CNY 38.4B

WACC

3.47%

Metric

Value

Asset turnover

0.08

Current assets

CNY 12B

Current liabilities

CNY 9.6B

Current ratio

1.25

Inventory turnover

323.07

Net working capital

CNY 6.7B

Quick ratio

1.14

Working capital

CNY 2.4B

Working capital turnover

1.72

Metric

Value

Buyback yield / dilution

-0.04%

Dividend growth

-9.62%

Dividend growth (3Y)

-12.1%

Dividend growth years

Dividend payment date

2026-09-21

Dividend payment years

Dividend payout frequency

Semi-Annual

Dividend per share

CNY 0.05

Dividend yield

0.68%

Ex-dividend date

2026-09-21

FCF payout ratio

3.53%

Last dividend

CNY 0.02

Payout ratio

259.25%

Shareholder yield

0.63%

Metric

Value

150-day SMA

CNY 8.41

1D price change

1.16%

1M price change

3.11%

1M total return

3.11%

1W price change

-6.95%

1W total return

-6.95%

1Y price change

-8.3%

1Y return CAGR

-7.77%

1Y total return

-7.76%

20-day SMA

CNY 7.31

200-day SMA

CNY 8.32

3M price change

-5.69%

3M total return

-5.42%

3Y price change

-18.21%

3Y return CAGR

-5.52%

3Y total return

-15.65%

50-day SMA

CNY 7.12

50-day SMA vs 200-day SMA

50under200

52-week high

CNY 14.10

52-week high date

2026-03-26

52-week low

CNY 6.30

52-week low date

2026-07-09

5Y price change

-58.2%

5Y return CAGR

-15.35%

5Y total return

-56.52%

6M price change

-35.97%

6M total return

-35.59%

All-time high

CNY 19.70

All-time high date

2021-09-27

All-time low

CNY 4.21

All-time low date

2021-05-25

Average true range (ATR)

CNY 0.33

Average volume

50.5M

Beta (1Y)

0.21

Beta (2Y)

0.1

Beta (5Y)

0.35

Change from 52-week high

-50.71%

Change from 52-week low

10.32%

Change from all-time high

-64.67%

Change from all-time low

65.32%

Change from open

1.02%

Day's gap

0.15%

Dollar volume

CNY 137M

High price

CNY 6.99

Low price

CNY 6.83

Monthly RSI

44.08

Open price

CNY 6.88

Position in 52-week range

75%

Previous close

CNY 6.87

Price vs 150-day SMA

-17.24%

Price vs 20-day SMA

-4.83%

Price vs 200-day SMA

-16.33%

Price vs 50-day SMA

-2.19%

Relative volume

0.39

RSI

44.63

Sharpe ratio

0.05

Sharpe ratio (3Y)

-0.19

Sharpe ratio (5Y)

-0.06

Sortino ratio

0.2

Sortino ratio (3Y)

-0.13

Sortino ratio (5Y)

0.05

Volume

19.7M

Weekly RSI

43.07

YTD price change

-6.07%

YTD total return

-5.52%

Metric

Value

Float

466.3M

Shares change (QoQ)

-0.05%

Shares change (YoY)

0.04%

Shares held by insiders

Shares held by institutions

3.99%

Shares outstanding

2.4B

SHA/600032 (SHA/600032)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600032

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600032 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on SHA/600032

Frequently asked questions

SHA/600032 (SHA/600032)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/600032

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/600032 indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on SHA/600032

Frequently asked questions