1250.Hk

The company maintains a capital structure characterized by high leverage, with total liabilities of CNY 35.09 billion against total equity of CNY 13.46 billion, resulting in a debt-to-equity ratio of 1.98. Long-term debt stands at CNY 26.64 billion, while cash and equivalents total CNY 4.62 billion, leading to a negative net cash position flagged in the risk assessment. Liquidity is assessed as medium, supported by a current ratio of 1.62, indicating sufficient short-term assets to cover immediate obligations. The market capitalization is CNY 2.61 billion, trading at a price-to-book ratio of 0.19, suggesting the market values the company significantly below its book value.

Profitability metrics indicate thin returns on capital, with a return on equity of 1.7% and a return on assets of 0.47%. The company generated a net income of CNY 228.77 million on revenues of CNY 4.41 billion, yielding a net margin of approximately 5.2%. Operating income was CNY 1.59 billion, demonstrating a healthy operating margin of roughly 36.1%, which is typical for utility assets with high fixed costs and depreciation. Free cash flow was CNY 642.75 million, derived from operating cash flow of CNY 3.60 billion less capital expenditures of CNY 1.61 billion.