G 
Green Development Electricity Group of Tianjin Co 000537.SZ · CNY
Real Estate · Shenzhen · 🇨🇳 China
7.03
-0.85%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.89bn
FY2016FY2025
Net income
CN¥800.7m
FY2016FY2025
Free cash flow
−CN¥6.49bn
FY2016FY2025
Shareholders' equity
CN¥19.84bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.89bn | CN¥3.84bn | CN¥3.69bn | CN¥3.43bn | CN¥19.58bn | CN¥18.68bn | CN¥22.99bn | CN¥27.06bn | CN¥21.64bn | CN¥9.18bn |
| Research and development | CN¥3.0m | CN¥2.3m | CN¥3.3m | CN¥8.6m | CN¥524,005 | — | CN¥466,981 | CN¥655,660 | CN¥655,660 | CN¥655,660 |
| Operating income | CN¥2.03bn | CN¥1.76bn | CN¥1.62bn | CN¥818.2m | CN¥2.24bn | CN¥4.15bn | CN¥4.47bn | CN¥3.66bn | CN¥3.01bn | CN¥892.0m |
| Net income | CN¥800.7m | CN¥1.01bn | CN¥919.6m | CN¥633.6m | −CN¥315.0m | CN¥2.21bn | CN¥3.14bn | CN¥2.50bn | CN¥2.10bn | CN¥578.3m |
| Diluted earnings per share | 0.39 | 0.48 | 0.49 | 0.35 | -0.16 | 577.55 | 1.70 | 1.33 | 1.12 | 0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥99.42bn | CN¥89.37bn | CN¥70.37bn | CN¥37.54bn | CN¥113.70bn | CN¥74.84bn | CN¥70.04bn | CN¥75.98bn | CN¥82.90bn | CN¥68.41bn |
| Cash and short-term investments | — | CN¥6.61bn | CN¥9.00bn | CN¥4.88bn | CN¥6.94bn | CN¥6.70bn | CN¥4.81bn | CN¥4.86bn | CN¥8.98bn | CN¥7.47bn |
| Total liabilities | CN¥73.39bn | CN¥64.58bn | CN¥49.82bn | CN¥19.86bn | CN¥89.31bn | CN¥59.49bn | CN¥56.34bn | CN¥65.27bn | CN¥70.92bn | CN¥60.78bn |
| Debt | CN¥54.67bn | CN¥54.47bn | CN¥39.52bn | CN¥15.74bn | CN¥22.90bn | CN¥31.91bn | CN¥14.78bn | CN¥18.24bn | CN¥18.57bn | CN¥26.35bn |
| Shareholders' equity | CN¥19.84bn | CN¥19.59bn | CN¥17.16bn | CN¥16.41bn | CN¥22.81bn | CN¥15.36bn | CN¥13.70bn | CN¥10.71bn | CN¥11.98bn | CN¥6.66bn |
| Shares outstanding | 2,073m | 2,098m | 1,870m | 1,792m | 1,978m | 4m | 1,846m | 1,889m | 1,880m | 4,891m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥4.91bn | CN¥1.80bn | CN¥2.54bn | −CN¥8.21bn | CN¥4.99bn | −CN¥6.38bn | −CN¥1.79bn | CN¥5.96bn | CN¥10.67bn | −CN¥3.26bn |
| Capital spending | −CN¥11.40bn | −CN¥21.05bn | −CN¥24.95bn | −CN¥3.11bn | −CN¥303.6m | −CN¥190.0m | −CN¥159.1m | −CN¥288.5m | −CN¥401.0m | −CN¥2.0m |
| Free cash flow | −CN¥6.49bn | −CN¥19.25bn | −CN¥22.41bn | −CN¥11.32bn | CN¥4.69bn | −CN¥6.57bn | −CN¥1.95bn | CN¥5.68bn | CN¥10.27bn | −CN¥3.26bn |
| Dividends paid | −CN¥1.79bn | −CN¥372.0m | −CN¥186.3m | −CN¥848.7m | −CN¥3.23bn | −CN¥558.8m | −CN¥242.1m | −CN¥1.40bn | −CN¥1.72bn | −CN¥1.16bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.49bn | CN¥1.18bn | CN¥1.19bn | CN¥1.37bn | CN¥1.31bn | CN¥1.03bn | CN¥916.1m | CN¥1.12bn |
| Operating income | CN¥599.6m | CN¥388.6m | CN¥231.8m | CN¥389.2m | CN¥687.5m | CN¥512.7m | CN¥205.2m | CN¥570.9m |
| Net income | CN¥204.6m | CN¥89.0m | −CN¥4.8m | CN¥187.1m | CN¥364.2m | CN¥254.2m | CN¥93.1m | CN¥450.7m |
| Diluted earnings per share | 0.10 | 0.04 | -0.00 | 0.09 | 0.18 | 0.12 | 0.04 | 0.21 |
| Cash from operations | — | — | — | CN¥2.76bn | CN¥721.0m | CN¥579.0m | CN¥539.0m | CN¥677.0m |
| Capital spending | −CN¥596.0m | −CN¥612.0m | −CN¥5.34bn | −CN¥2.31bn | −CN¥1.38bn | −CN¥2.37bn | −CN¥3.32bn | −CN¥5.22bn |
| Free cash flow | — | — | — | CN¥449.0m | −CN¥655.0m | −CN¥1.79bn | −CN¥2.78bn | −CN¥4.54bn |
| Total assets | CN¥99.42bn | CN¥100.02bn | CN¥99.42bn | CN¥94.26bn | CN¥91.95bn | CN¥91.06bn | CN¥89.37bn | CN¥87.72bn |
| Cash and short-term investments | — | — | — | CN¥7.06bn | CN¥5.28bn | CN¥6.05bn | CN¥6.61bn | CN¥5.74bn |
| Debt | CN¥56.64bn | CN¥56.52bn | CN¥54.67bn | CN¥3.95bn | CN¥54.40bn | CN¥54.76bn | CN¥55.10bn | CN¥51.53bn |
| Shareholders' equity | CN¥19.87bn | CN¥19.90bn | CN¥19.84bn | CN¥20.01bn | CN¥19.82bn | CN¥19.86bn | CN¥19.59bn | CN¥19.51bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 41.5% | 45.9% | 43.9% | 23.9% | 11.4% | 22.2% | — |
| Net margin | 16.4% | 26.3% | 24.9% | 18.5% | -1.6% | 11.8% | — |
| Return on equity | 4.0% | 5.1% | 5.4% | 3.9% | -1.4% | 14.4% | — |
| Return on assets | 0.8% | 1.1% | 1.3% | 1.7% | -0.3% | 3.0% | — |
| Free cash flow yield | 108.0% | 149.6% | 201.9% | -39.1% | 36.8% | -22221.1% | — |
| Revenue growth | 27.4% | 4.1% | 7.6% | -82.5% | 4.8% | -18.7% | — |
| Earnings growth | -20.6% | 9.7% | 45.1% | -301.2% | -114.2% | -29.6% | — |
| Current ratio | 0.98x | 1.87x | 0.85x | 3.39x | 1.31x | 2.40x | — |
| Debt to equity | 2.76x | 2.81x | 2.26x | 1.00x | 0.18x | 2.08x | — |
| Equity ratio | 20.0% | 21.9% | 24.4% | 43.7% | 20.1% | 20.5% | — |
| Interest coverage | 2.93x | 3.34x | 3.11x | 1.12x | 1.11x | 5.93x | — |
| R&D as a share of sales | 0.1% | 0.1% | 0.1% | 0.2% | 0.0% | — | 0.0% |
| Buybacks as a share of market value | 1.2% | -12.2% | -4.3% | 9.4% | -51547.7% | 99.8% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.6% | -23.5% | 13.0% |
| Operating income | 35.4% | -13.3% | 20.7% |
| Net income | 8.1% | -18.4% | 18.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 43.5% | 39.3% | 23.3% | 18.3% |
| Net margin | 20.7% | 21.2% | 9.7% | 10.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 21.3 | 19.0 | 19.6 | 37.4 | -151.3 | 0.0 | 4.6 | 5.7 | 11.4 | 76.8 |
| Price to sales | 3.5 | 5.0 | 4.9 | 6.9 | 2.4 | — | 0.6 | 0.5 | 1.1 | 4.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 28 Oct 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.245 | 0.18 | 0.10 | 0.10 | 0.25 | 0.30 | 0.13 | 0.13 |
- 1-to-1 reverse split · 17 Mar 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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