Datang HuaYin Electric Power Co Ltd

Datang HuaYin Electric Power Co Ltd maintains a highly leveraged capital structure, characterized by a debt-to-equity ratio of 15.3 and a current ratio of 0.42. Total liabilities stand at 28.96 billion CNY against total equity of 1.64 billion CNY, indicating significant reliance on debt financing. Long-term debt comprises 25.03 billion CNY of the total liability base. Despite generating 3.22 billion CNY in operating cash flow, the company reports negative free cash flow of -4.34 billion CNY, driven by capital expenditures of 5.23 billion CNY. This heavy investment cycle, combined with negative net cash after subtracting total debt, creates a medium liquidity risk profile.

Profitability metrics show a return on equity of 23.57% and a return on assets of 1.26%. The company reports a net income of 81.57 million CNY on revenue of 8.06 billion CNY, resulting in a price-to-earnings ratio of 29.34 and a price-to-book ratio of 6.91. The enterprise value to EBITDA ratio is 82.45, suggesting high valuation multiples relative to earnings power. While the return on equity appears elevated, it is derived from a very small equity base, amplifying the impact of leverage on returns.

Revenue concentration and segment details are not explicitly provided in the available data, but the company operates within the Electric Utilities industry. The geographic exposure is implied to be domestic given the CNY denomination and Chinese ticker listing, though specific regional breakdowns are absent. The lack of segment data prevents a detailed analysis of revenue mix, but the primary activity remains electric power generation.

Growth trajectory analysis is limited by the absence of historical period data in the input. The latest financial snapshot shows revenue of 8.06 billion CNY. Without multi-year historical revenue or net income trends, it is not possible to assess the direction or magnitude of growth. The company’s recent actual revenue of 3.22 billion CNY, as per analyst estimates, suggests potential seasonality or partial period reporting, but long-term trends cannot be established from the provided data.

Risk factors include medium liquidity risk and low dilution risk. The key flag indicates that net cash is negative after subtracting total debt, highlighting the company's dependence on external financing or operating cash flow to service its obligations. The high debt-to-equity ratio of 15.3 further underscores the financial leverage risk. Dilution risk is assessed as low, with basic and diluted shares outstanding being identical at 2.03 billion shares.

Recent events include analyst estimates showing a last actual EPS of -1.49 CNY, contrasting with the positive net income in the financial snapshot, which may indicate different reporting periods or adjustments. The company is compared against competitors such as Duke Energy, NextEra Energy, and Southern Company, though no specific comparative metrics are provided. No specific filing, news, or transcript observations are detailed in the input data.

Cash conversion of 8.34 is best-in-class, vastly exceeding the 1.65 median for the electric utilities peer group.

Net income surged 172.4% year-over-year to 81.6 million CNY, marking a strong recovery from prior losses.

Operating income increased 215.4% year-over-year to 188.0 million CNY, demonstrating significant improvement in core operational profitability.

Debt-to-equity ratio of 15.3 is in the bottom quartile, far exceeding the 0.75 median for the electric utilities cohort.

The company faces high credit risk, indicating significant concerns regarding its ability to meet financial obligations.

Revenue declined 3.6% annually over four years, reflecting a persistent downward trend in top-line growth.

Revenue ¥2.24B, −14,3% YoY; Operating income +302,0% YoY.

• ▍Revenue ¥2.24B, −14,3% YoY
• ▍Operating income +302,0% YoY
• ▍Net income +418,6% YoY
• ▍Net margin 6.7%

Revenue ¥1.81B, +34,3% YoY; Operating income +9 194,6% YoY.

• ▍Revenue ¥1.81B, +34,3% YoY
• ▍Operating income +9 194,6% YoY
• ▍Net income +4 869,0% YoY
• ▍Net margin 7.2%

Revenue ¥2.31B; Operating income ¥88.3M.

• ▍Revenue ¥2.31B
• ▍Operating income ¥88.3M
• ▍Net margin 3.3%

Revenue ¥2.62B; Operating income ¥40.2M.

• ▍Revenue ¥2.62B
• ▍Operating income ¥40.2M
• ▍Net margin 1.1%

Revenue ¥2.19B; Operating income -¥219.3M.

• ▍Revenue ¥2.19B
• ▍Operating income -¥219.3M
• ▍Net margin -6.7%

Revenue ¥1.35B; Operating income ¥1.6M.

• ▍Revenue ¥1.35B
• ▍Operating income ¥1.6M
• ▍Net margin -0.2%

Revenue ¥8.06B, −3,4% YoY; Operating income +215,4% YoY.

• ▍Revenue ¥8.06B, −3,4% YoY
• ▍Operating income +215,4% YoY
• ▍Net income +172,4% YoY
• ▍Free cash flow −39,1% YoY
• ▍Net margin 1.0%

Revenue ¥8.35B, −14,4% YoY; Operating income −7,8% YoY.

• ▍Revenue ¥8.35B, −14,4% YoY
• ▍Operating income −7,8% YoY
• ▍Net income +39,8% YoY
• ▍Free cash flow +26,9% YoY
• ▍Net margin -1.4%

Revenue ¥9.75B, +3,0% YoY; Operating income −405,0% YoY.

• ▍Revenue ¥9.75B, +3,0% YoY
• ▍Operating income −405,0% YoY
• ▍Net income −873,8% YoY
• ▍Free cash flow −95,0% YoY
• ▍Net margin -1.9%

Revenue ¥9.47B, +1,6% YoY; Operating income +102,2% YoY.

• ▍Revenue ¥9.47B, +1,6% YoY
• ▍Operating income +102,2% YoY
• ▍Net income +101,1% YoY
• ▍Free cash flow +21,7% YoY
• ▍Net margin 0.3%

Revenue ¥9.32B; Operating income -¥2.25B.

• ▍Revenue ¥9.32B
• ▍Operating income -¥2.25B
• ▍Net margin -24.3%