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SHA/601985 (SHA/601985)

Shanghai Stock Exchange: SHA/601985 · CNY

CN¥9.66

+0.16 (+1.7%)· Recorded snapshot

Market cap	198.7B
Revenue (ttm)	80.3B
Net income (ttm)	7.4B
EPS (ttm)	CN¥0.36
Shares out	20.6B
P/E (trailing)	26.9x
P/E (forward)	19.3x
Dividend	CN¥0.18 (1.86%)
Volume	139,159,354
Beta	0.15

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	22,306
Employees change	1,951
Employees growth	9.58%
Enterprise value	CNY 736.1B
Exchange	Shanghai Stock Exchange
Financial currency	CNY
Financial report date	2026-09-30
First seen	2026-05-10
Fiscal year end	December
Founded	2008
Industry	Utilities - Regulated Electric
Is primary listing	Yes
ISIN number	CNE1000022N7
Last earnings date	2026-10-28
Last refreshed	2026-10-28
Market cap	CNY 198.7B
Next earnings date	2026-10-28
Price	CNY 9.66
Price currency	CNY
Sector	Utilities
SIC code	4991
Stock price date	2026-10-28
Symbol	sha/601985
Website	https://www.cnnp.com.cn

Metric

Value

Amount currency

CNY

Country

China

Country code

Earnings date

2026-10-28

Employees

22,306

Employees change

1,951

Employees growth

9.58%

Enterprise value

CNY 736.1B

Exchange

Shanghai Stock Exchange

Financial currency

CNY

Financial report date

2026-09-30

First seen

2026-05-10

Fiscal year end

December

Founded

2008

Industry

Utilities - Regulated Electric

Is primary listing

Yes

ISIN number

CNE1000022N7

Last earnings date

2026-10-28

Last refreshed

2026-10-28

Market cap

CNY 198.7B

Next earnings date

2026-10-28

Price

CNY 9.66

Price currency

CNY

Sector

Utilities

SIC code

4991

Stock price date

2026-10-28

Symbol

sha/601985

Website

https://www.cnnp.com.cn

Metric	Value
Average P/E ratio (10Y)	18.38x
Average P/E ratio (3Y)	20.72x
Average P/E ratio (5Y)	18.08x
Earnings yield	3.71%
EV/Earnings	99.91x
EV/EBIT	29.03x
EV/EBITDA	14.98x
EV/Sales	9.17x
FCF / EV yield	-5.54%
FCF yield	-20.54%
Forward P/E	19.28x
Graham number	6.91043
Graham upside	-28.46%
Industry forward P/E	10.26x
Industry P/E	23.13x
Lynch fair value	CNY 1.79
Lynch upside	-81.43%
P/B ratio	0.83x
P/E ratio	26.92x
P/OCF ratio	4.7x
P/S ratio	2.47x
PEG ratio	3.27x
Price / tangible book value	1.83x
Price/EBITDA ratio	4.09x
Sector forward P/E	16.74x
Sector P/E	21.59x

Metric

Value

Average P/E ratio (10Y)

18.38x

Average P/E ratio (3Y)

20.72x

Average P/E ratio (5Y)

18.08x

Earnings yield

3.71%

EV/Earnings

99.91x

EV/EBIT

29.03x

EV/EBITDA

14.98x

EV/Sales

9.17x

FCF / EV yield

-5.54%

FCF yield

-20.54%

Forward P/E

19.28x

Graham number

6.91043

Graham upside

-28.46%

Industry forward P/E

10.26x

Industry P/E

23.13x

Lynch fair value

CNY 1.79

Lynch upside

-81.43%

P/B ratio

0.83x

P/E ratio

26.92x

P/OCF ratio

4.7x

P/S ratio

2.47x

PEG ratio

3.27x

Price / tangible book value

1.83x

Price/EBITDA ratio

4.09x

Sector forward P/E

16.74x

Sector P/E

21.59x

Metric	Value
EBIT margin	31.59%
EBITDA margin	60.5%
Effective tax rate	22.35%
Gross margin	36.31%
Operating margin	31.59%
Pretax margin	23.29%
Profit margin	9.18%
Profit per employee	CNY 330,307
Profitable quarters	6
Profitable years	19
Revenue per employee	CNY 3.6M
ROA	2.09%
ROA (5Y)	3.4%
ROCE	3.68%
ROE	6.29%
ROE (5Y)	10.66%
ROIC	2.39%
Tax / revenue	5.2%

Metric

Value

EBIT margin

31.59%

EBITDA margin

60.5%

Effective tax rate

22.35%

Gross margin

36.31%

Operating margin

31.59%

Pretax margin

23.29%

Profit margin

9.18%

Profit per employee

CNY 330,307

Profitable quarters

Profitable years

Revenue per employee

CNY 3.6M

ROA

2.09%

ROA (5Y)

3.4%

ROCE

3.68%

ROE

6.29%

ROE (5Y)

10.66%

ROIC

2.39%

Tax / revenue

5.2%

Metric	Value
EPS growth	-7.66%
EPS growth (Q)	3.6%
EPS growth (QoQ)	53.44%
EPS growth 10Y	3.23%
EPS growth 3Y	-12.29%
EPS growth 5Y	-2.85%
EPS growth years	0
Net income growth	-6.1%
Net income growth (Q)	3.8%
Net income growth (QoQ)	53.79%
Net income growth 3Y	-10.58%
Net income growth 5Y	-0.76%
Net income growth years	1
OCF growth	10.93%
OCF growth (Q)	38.54%
OCF growth (QoQ)	44.76%
OCF growth 10Y	9.2%
OCF growth 3Y	-3.53%
OCF growth 5Y	3.06%
Revenue growth	-1.99%
Revenue growth (Q)	3.82%
Revenue growth (QoQ)	10.15%
Revenue growth 10Y	11.03%
Revenue growth 3Y	2.45%
Revenue growth 5Y	5.71%
Revenue growth years	18

Metric

Value

EPS growth

-7.66%

EPS growth (Q)

3.6%

EPS growth (QoQ)

53.44%

EPS growth 10Y

3.23%

EPS growth 3Y

-12.29%

EPS growth 5Y

-2.85%

EPS growth years

Net income growth

-6.1%

Net income growth (Q)

3.8%

Net income growth (QoQ)

53.79%

Net income growth 3Y

-10.58%

Net income growth 5Y

-0.76%

Net income growth years

OCF growth

10.93%

OCF growth (Q)

38.54%

OCF growth (QoQ)

44.76%

OCF growth 10Y

9.2%

OCF growth 3Y

-3.53%

OCF growth 5Y

3.06%

Revenue growth

-1.99%

Revenue growth (Q)

3.82%

Revenue growth (QoQ)

10.15%

Revenue growth 10Y

11.03%

Revenue growth 3Y

2.45%

Revenue growth 5Y

5.71%

Revenue growth years

Metric	Value
Capital expenditures	CNY -83.1B
EBIT	CNY 25.4B
EBITDA	CNY 48.6B
EPS	CNY 0.36
FCF per share	CNY -1.98
Financing cash flow	CNY 37.3B
Free cash flow	CNY -40.8B
Gross profit	CNY 29.2B
Income taxes	CNY 4.2B
Investing cash flow	CNY -83.4B
Net borrowing	CNY 44.3B
Net cash flow	CNY -3.8B
Net income	CNY 7.4B
Operating income	CNY 25.4B
Revenue	CNY 80.3B

Metric

Value

Capital expenditures

CNY -83.1B

EBIT

CNY 25.4B

EBITDA

CNY 48.6B

EPS

CNY 0.36

FCF per share

CNY -1.98

Financing cash flow

CNY 37.3B

Free cash flow

CNY -40.8B

Gross profit

CNY 29.2B

Income taxes

CNY 4.2B

Investing cash flow

CNY -83.4B

Net borrowing

CNY 44.3B

Net cash flow

CNY -3.8B

Net income

CNY 7.4B

Operating income

CNY 25.4B

Revenue

CNY 80.3B

Metric	Value
Book value per share	CNY 5.91
Debt / EBITDA	8.89
Debt / equity	1.83
Goodwill	CNY 5.4B
Interest coverage	3.87
Long-term assets	CNY 704B
Long-term liabilities	CNY 451.7B
Net cash (debt)	CNY -420.9B
Net cash / market cap	-211.85%
Net debt / EBITDA	8.67
Net debt / equity	1.77
Piotroski F-Score	4
Property, plant and equipment	CNY 635.3B
Shareholders' equity	CNY 238B
Tangible book value	CNY 108.5B
Tangible book value per share	CNY 5.28
Total assets	CNY 797.7B
Total cash	CNY 15.8B
Total debt	CNY 436.7B
Total liabilities	CNY 559.7B
WACC	2.39%

Metric

Value

Book value per share

CNY 5.91

Debt / EBITDA

8.89

Debt / equity

1.83

Goodwill

CNY 5.4B

Interest coverage

3.87

Long-term assets

CNY 704B

Long-term liabilities

CNY 451.7B

Net cash (debt)

CNY -420.9B

Net cash / market cap

-211.85%

Net debt / EBITDA

8.67

Net debt / equity

1.77

Piotroski F-Score

Property, plant and equipment

CNY 635.3B

Shareholders' equity

CNY 238B

Tangible book value

CNY 108.5B

Tangible book value per share

CNY 5.28

Total assets

CNY 797.7B

Total cash

CNY 15.8B

Total debt

CNY 436.7B

Total liabilities

CNY 559.7B

WACC

2.39%

Metric	Value
Asset turnover	0.11
Current assets	CNY 93.6B
Current liabilities	CNY 107.9B
Current ratio	0.87
Inventory turnover	1.36
Net working capital	CNY -12B
Quick ratio	0.42
Working capital	CNY -14.3B
Working capital turnover	-6.12

Metric

Value

Asset turnover

0.11

Current assets

CNY 93.6B

Current liabilities

CNY 107.9B

Current ratio

0.87

Inventory turnover

1.36

Net working capital

CNY -12B

Quick ratio

0.42

Working capital

CNY -14.3B

Working capital turnover

-6.12

Metric	Value
Buyback yield / dilution	-1.69%
Dividend growth	0%
Dividend growth (3Y)	1.92%
Dividend growth (5Y)	6.72%
Dividend growth years	0
Dividend payment date	2026-10-23
Dividend payment years	11
Dividend payout frequency	Semi-Annual
Dividend per share	CNY 0.18
Dividend yield	1.86%
Ex-dividend date	2026-10-23
Last dividend	CNY 0.02
Payout ratio	308.15%
Shareholder yield	0.17%

Metric

Value

Buyback yield / dilution

-1.69%

Dividend growth

Dividend growth (3Y)

1.92%

Dividend growth (5Y)

6.72%

Dividend growth years

Dividend payment date

2026-10-23

Dividend payment years

Dividend payout frequency

Semi-Annual

Dividend per share

CNY 0.18

Dividend yield

1.86%

Ex-dividend date

2026-10-23

Last dividend

CNY 0.02

Payout ratio

308.15%

Shareholder yield

0.17%

Metric	Value
10Y price change	40.82%
10Y return CAGR	5.74%
10Y total return	74.7%
150-day SMA	CNY 9.00
1D price change	1.68%
1M price change	8.54%
1M total return	8.77%
1W price change	1.9%
1W total return	2.12%
1Y price change	2.01%
1Y return CAGR	4.33%
1Y total return	4.33%
20-day SMA	CNY 9.28
200-day SMA	CNY 8.95
3M price change	9.03%
3M total return	9.26%
3Y price change	33.43%
3Y return CAGR	12.28%
3Y total return	41.56%
50-day SMA	CNY 9.06
50-day SMA vs 200-day SMA	50over200
52-week high	CNY 9.78
52-week high date	2026-10-28
52-week low	CNY 8.46
52-week low date	2026-02-25
5Y price change	36.06%
5Y return CAGR	8.62%
5Y total return	51.17%
6M price change	7.1%
6M total return	9.29%
All-time high	CNY 14.38
All-time high date	2015-07-01
All-time low	CNY 4.02
All-time low date	2020-06-01
Average true range (ATR)	CNY 0.16
Average volume	104.7M
Beta (1Y)	-0.09
Beta (2Y)	0.07
Beta (5Y)	0.15
Change from 52-week high	-0.31%
Change from 52-week low	14.18%
Change from all-time high	-32.82%
Change from all-time low	140.3%
Change from open	1.68%
Day's gap	0%
Dollar volume	CNY 1.3B
High price	CNY 9.78
Low price	CNY 9.49
Monthly RSI	60.25
Open price	CNY 9.50
Position in 52-week range	58.62%
Previous close	CNY 9.50
Price vs 150-day SMA	7.32%
Price vs 20-day SMA	4.05%
Price vs 200-day SMA	7.97%
Price vs 50-day SMA	6.61%
Relative volume	1.37
RSI	69.57
Sharpe ratio	0.28
Sharpe ratio (3Y)	0.46
Sharpe ratio (5Y)	0.54
Sortino ratio	0.75
Sortino ratio (3Y)	0.97
Sortino ratio (5Y)	1.05
Volume	139.2M
Weekly RSI	64.04
YTD price change	11.68%
YTD total return	14.22%

Metric

Value

10Y price change

40.82%

10Y return CAGR

5.74%

10Y total return

74.7%

150-day SMA

CNY 9.00

1D price change

1.68%

1M price change

8.54%

1M total return

8.77%

1W price change

1.9%

1W total return

2.12%

1Y price change

2.01%

1Y return CAGR

4.33%

1Y total return

4.33%

20-day SMA

CNY 9.28

200-day SMA

CNY 8.95

3M price change

9.03%

3M total return

9.26%

3Y price change

33.43%

3Y return CAGR

12.28%

3Y total return

41.56%

50-day SMA

CNY 9.06

50-day SMA vs 200-day SMA

50over200

52-week high

CNY 9.78

52-week high date

2026-10-28

52-week low

CNY 8.46

52-week low date

2026-02-25

5Y price change

36.06%

5Y return CAGR

8.62%

5Y total return

51.17%

6M price change

7.1%

6M total return

9.29%

All-time high

CNY 14.38

All-time high date

2015-07-01

All-time low

CNY 4.02

All-time low date

2020-06-01

Average true range (ATR)

CNY 0.16

Average volume

104.7M

Beta (1Y)

-0.09

Beta (2Y)

0.07

Beta (5Y)

0.15

Change from 52-week high

-0.31%

Change from 52-week low

14.18%

Change from all-time high

-32.82%

Change from all-time low

140.3%

Change from open

1.68%

Day's gap

Dollar volume

CNY 1.3B

High price

CNY 9.78

Low price

CNY 9.49

Monthly RSI

60.25

Open price

CNY 9.50

Position in 52-week range

58.62%

Previous close

CNY 9.50

Price vs 150-day SMA

7.32%

Price vs 20-day SMA

4.05%

Price vs 200-day SMA

7.97%

Price vs 50-day SMA

6.61%

Relative volume

1.37

RSI

69.57

Sharpe ratio

0.28

Sharpe ratio (3Y)

0.46

Sharpe ratio (5Y)

0.54

Sortino ratio

0.75

Sortino ratio (3Y)

0.97

Sortino ratio (5Y)

1.05

Volume

139.2M

Weekly RSI

64.04

YTD price change

11.68%

YTD total return

14.22%

Metric	Value
Float	5.9B
Shares change (QoQ)	0.23%
Shares change (YoY)	1.69%
Shares held by insiders	0%
Shares held by institutions	8.02%
Shares outstanding	20.6B

Metric

Value

Float

5.9B

Shares change (QoQ)

0.23%

Shares change (YoY)

1.69%

Shares held by insiders

Shares held by institutions

8.02%

Shares outstanding

20.6B

SHA/601985 (SHA/601985)

Price

Financial snapshot

Fair-value bridge

Latest news · SHA/601985

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All SHA/601985 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/601985

Frequently asked questions