Z 
Zhejiang Provincial New Energy Investment Group Co 600032.SS · CNY
Utilities · Shanghai · 🇨🇳 China
7.16
-0.42%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥4.88bn
FY2016FY2025
Net income
CN¥505.9m
FY2016FY2025
Free cash flow
CN¥1.82bn
FY2016FY2025
Shareholders' equity
CN¥12.81bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.88bn | CN¥4.96bn | CN¥4.52bn | CN¥4.60bn | CN¥3.23bn | CN¥2.35bn | CN¥2.10bn | CN¥1.25bn | CN¥935.7m | CN¥1.22bn |
| Gross profit | CN¥1.94bn | CN¥2.26bn | CN¥2.31bn | CN¥2.49bn | CN¥1.93bn | CN¥1.26bn | CN¥1.30bn | CN¥649.8m | CN¥557.6m | CN¥807.1m |
| Research and development | CN¥11.8m | CN¥12.9m | CN¥11.1m | CN¥20.9m | CN¥20.5m | CN¥4.9m | — | — | — | — |
| Operating income | — | CN¥999.8m | CN¥1.11bn | CN¥2.02bn | CN¥1.55bn | CN¥992.6m | CN¥1.08bn | CN¥204.3m | CN¥422.8m | CN¥709.7m |
| Net income | CN¥505.9m | CN¥566.5m | CN¥627.2m | CN¥775.8m | CN¥689.2m | CN¥283.7m | CN¥407.5m | CN¥150.5m | CN¥253.0m | CN¥438.2m |
| Diluted earnings per share | 0.21 | 0.24 | 0.26 | 0.37 | 0.33 | 0.14 | 0.14 | 0.06 | 0.11 | 0.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥58.66bn | CN¥58.90bn | CN¥52.93bn | CN¥46.64bn | CN¥41.28bn | CN¥29.77bn | CN¥24.19bn | CN¥17.27bn | CN¥8.43bn | CN¥7.98bn |
| Cash and short-term investments | — | CN¥1.88bn | CN¥2.42bn | CN¥2.41bn | CN¥3.84bn | CN¥1.04bn | CN¥1.30bn | CN¥2.63bn | CN¥431.3m | CN¥605.3m |
| Total liabilities | CN¥39.18bn | CN¥40.12bn | CN¥34.65bn | CN¥32.35bn | CN¥29.36bn | CN¥19.65bn | CN¥14.49bn | CN¥9.81bn | CN¥3.77bn | CN¥3.42bn |
| Debt | CN¥26.20bn | CN¥29.71bn | CN¥24.69bn | CN¥26.30bn | CN¥22.25bn | CN¥16.22bn | CN¥11.41bn | CN¥8.20bn | CN¥3.00bn | CN¥2.63bn |
| Shareholders' equity | CN¥12.81bn | CN¥12.43bn | CN¥12.10bn | CN¥8.63bn | CN¥7.71bn | CN¥6.57bn | CN¥6.28bn | CN¥5.73bn | CN¥3.75bn | CN¥3.63bn |
| Shares outstanding | 2,405m | 2,405m | 2,405m | 2,080m | 2,080m | 2,080m | 2,958m | 2,405m | 2,405m | 2,405m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥4.50bn | CN¥2.82bn | CN¥2.46bn | CN¥2.91bn | CN¥1.16bn | CN¥1.22bn | CN¥1.20bn | CN¥646.0m | CN¥527.0m | CN¥844.8m |
| Capital spending | −CN¥2.68bn | −CN¥1.48bn | −CN¥4.17bn | −CN¥3.21bn | −CN¥2.73bn | −CN¥4.73bn | −CN¥3.11bn | −CN¥539.9m | −CN¥518.3m | −CN¥241.3m |
| Free cash flow | CN¥1.82bn | CN¥1.34bn | −CN¥1.71bn | −CN¥303.7m | −CN¥1.57bn | −CN¥3.51bn | −CN¥1.90bn | CN¥106.2m | CN¥8.7m | CN¥603.5m |
| Dividends paid | −CN¥991.0m | −CN¥1.24bn | −CN¥166.4m | −CN¥93.6m | −CN¥761.3m | −CN¥637.6m | −CN¥431.3m | −CN¥531.6m | −CN¥252.0m | −CN¥258.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.23bn | CN¥991.7m | CN¥1.02bn | CN¥1.40bn | CN¥1.34bn | CN¥1.11bn | CN¥1.05bn | CN¥1.32bn |
| Gross profit | CN¥498.8m | CN¥268.1m | CN¥218.9m | CN¥673.4m | CN¥638.2m | CN¥413.1m | CN¥286.3m | CN¥639.7m |
| Operating income | CN¥410.1m | CN¥205.5m | CN¥82.4m | CN¥753.5m | CN¥333.0m | CN¥298.7m | CN¥143.9m | CN¥531.9m |
| Net income | CN¥127.5m | CN¥28.4m | −CN¥107.2m | CN¥321.5m | CN¥207.7m | CN¥83.9m | −CN¥77.2m | CN¥197.4m |
| Diluted earnings per share | 0.05 | 0.01 | -0.04 | 0.13 | 0.09 | 0.03 | -0.03 | 0.08 |
| Cash from operations | — | — | — | CN¥2.74bn | CN¥619.0m | CN¥454.0m | — | CN¥1.34bn |
| Capital spending | −CN¥152.0m | −CN¥172.0m | −CN¥810.0m | −CN¥386.0m | −CN¥819.0m | −CN¥668.0m | −CN¥677.0m | −CN¥339.0m |
| Free cash flow | — | — | — | CN¥2.36bn | −CN¥200.0m | −CN¥214.0m | — | CN¥1.01bn |
| Total assets | CN¥58.06bn | CN¥57.96bn | CN¥58.66bn | CN¥59.85bn | CN¥59.72bn | CN¥59.03bn | CN¥58.90bn | CN¥54.94bn |
| Cash and short-term investments | — | — | — | CN¥3.52bn | CN¥1.81bn | CN¥1.77bn | CN¥1.88bn | CN¥2.68bn |
| Debt | CN¥25.46bn | CN¥26.84bn | CN¥26.20bn | CN¥6.77bn | CN¥29.48bn | CN¥29.84bn | CN¥29.16bn | CN¥26.31bn |
| Shareholders' equity | CN¥12.95bn | CN¥12.85bn | CN¥12.81bn | CN¥12.95bn | CN¥12.71bn | CN¥12.53bn | CN¥12.43bn | CN¥12.47bn |
Financial ratios
Data as of 28 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Gross margin | 39.9% | 45.6% | 51.2% | 54.1% | 59.7% | 53.9% | — |
| Operating margin | — | 20.2% | 24.6% | 43.8% | 47.8% | 42.3% | 51.2% |
| Net margin | 10.4% | 11.4% | 13.9% | 16.9% | 21.3% | 12.1% | — |
| Return on equity | 3.9% | 4.6% | 5.2% | 9.0% | 8.9% | 4.3% | — |
| Return on assets | 0.9% | 1.0% | 1.2% | 1.7% | 1.7% | 1.0% | — |
| Free cash flow yield | 40.2% | 24.1% | 37.1% | 39.6% | 25.2% | 38.5% | — |
| Revenue growth | -1.7% | 9.7% | -1.6% | 42.1% | 37.9% | 11.6% | — |
| Earnings growth | -10.7% | -9.7% | -19.2% | 12.6% | 142.9% | -30.4% | — |
| Current ratio | 1.26x | 1.28x | 1.30x | 1.28x | 0.72x | 0.69x | — |
| Debt to equity | 2.05x | 2.35x | 2.03x | 2.71x | 2.54x | 2.05x | — |
| Equity ratio | 21.8% | 21.1% | 22.9% | 18.5% | 18.7% | 22.1% | — |
| Interest coverage | — | 0.99x | 1.10x | 1.70x | 2.17x | 1.70x | 2.50x |
| R&D as a share of sales | 0.2% | 0.3% | 0.2% | 0.5% | 0.6% | 0.2% | — |
| Buybacks as a share of market value | -0.0% | 0.0% | -15.6% | 0.0% | 0.0% | 29.7% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.0% | 15.8% | — |
| Net income | -13.3% | 12.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 42.8% | 47.5% | 49.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Price to earnings | 35.2 | 31.4 | 30.9 | 30.8 | 46.7 |
| Price to sales | 3.6 | 3.6 | 4.3 | 5.2 | 9.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 4 years. Last went ex-dividend on 11 Jun 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Paid in the year | 0.027 | 0.052 | 0.126 | 0.069 | 0.045 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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