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Inner Mongolia MengDian HuaNeng Thermal Power Corp 600863.SS · CNY
Utilities · Shanghai · 🇨🇳 China
5.32
-0.75%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥21.05bn
FY2016FY2025
Net income
CN¥2.49bn
FY2016FY2025
Free cash flow
CN¥2.96bn
FY2016FY2025
Shareholders' equity
CN¥15.74bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥21.05bn | CN¥22.29bn | CN¥22.53bn | CN¥23.07bn | CN¥19.00bn | CN¥15.36bn | CN¥14.48bn | CN¥13.74bn | CN¥11.78bn | CN¥9.76bn |
| Research and development | CN¥54.7m | CN¥35.5m | CN¥46.4m | CN¥14.4m | CN¥7.1m | CN¥18.4m | — | — | CN¥10.2m | CN¥13.3m |
| Operating income | CN¥4.08bn | CN¥3.20bn | CN¥3.02bn | CN¥2.95bn | CN¥1.26bn | CN¥1.76bn | CN¥1.53bn | CN¥1.45bn | CN¥1.70bn | CN¥1.31bn |
| Net income | CN¥2.49bn | CN¥2.33bn | CN¥2.00bn | CN¥1.77bn | CN¥495.1m | CN¥759.1m | CN¥1.10bn | CN¥782.7m | CN¥514.1m | CN¥384.3m |
| Diluted earnings per share | 0.38 | 0.34 | 0.31 | 0.27 | 0.08 | 0.12 | 0.16 | 0.13 | 0.09 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥48.65bn | CN¥39.88bn | CN¥39.48bn | CN¥40.15bn | CN¥41.48bn | CN¥42.86bn | CN¥44.61bn | CN¥42.96bn | CN¥43.09bn | CN¥39.68bn |
| Cash and short-term investments | — | CN¥709.3m | CN¥1.59bn | CN¥974.4m | CN¥778.3m | CN¥294.9m | CN¥491.8m | CN¥514.1m | CN¥538.4m | CN¥163.3m |
| Total liabilities | CN¥25.65bn | CN¥16.30bn | CN¥16.17bn | CN¥19.56bn | CN¥22.33bn | CN¥24.69bn | CN¥27.10bn | CN¥26.51bn | CN¥29.34bn | CN¥26.18bn |
| Debt | — | CN¥12.38bn | CN¥12.28bn | CN¥14.72bn | CN¥17.27bn | CN¥19.33bn | CN¥21.75bn | CN¥21.35bn | CN¥24.23bn | CN¥24.15bn |
| Shareholders' equity | CN¥15.74bn | CN¥17.90bn | CN¥18.32bn | CN¥17.39bn | CN¥16.15bn | CN¥14.87bn | CN¥13.99bn | CN¥13.11bn | CN¥10.55bn | CN¥10.27bn |
| Shares outstanding | 6,527m | 6,741m | 6,527m | 6,527m | 6,527m | 6,157m | 6,776m | 6,131m | 5,792m | 5,744m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥6.73bn | CN¥5.10bn | CN¥5.33bn | CN¥5.15bn | CN¥3.09bn | CN¥3.91bn | CN¥3.88bn | CN¥3.28bn | CN¥3.32bn | CN¥2.14bn |
| Capital spending | −CN¥3.77bn | −CN¥3.75bn | −CN¥2.39bn | −CN¥1.18bn | −CN¥1.02bn | −CN¥1.16bn | −CN¥2.74bn | −CN¥1.13bn | −CN¥1.44bn | −CN¥1.82bn |
| Free cash flow | CN¥2.96bn | CN¥1.35bn | CN¥2.94bn | CN¥3.97bn | CN¥2.07bn | CN¥2.75bn | CN¥1.14bn | CN¥2.16bn | CN¥1.88bn | CN¥320.4m |
| Dividends paid | −CN¥1.81bn | −CN¥1.59bn | −CN¥1.07bn | −CN¥652.7m | −CN¥731.9m | −CN¥731.9m | −CN¥557.6m | −CN¥1.16bn | −CN¥1.18bn | −CN¥1.31bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥4.32bn | CN¥4.71bn | CN¥6.00bn | CN¥5.23bn | CN¥4.77bn | CN¥5.05bn | CN¥5.71bn | CN¥5.81bn |
| Operating income | CN¥716.4m | CN¥982.0m | CN¥1.09bn | CN¥942.1m | CN¥1.20bn | CN¥1.07bn | CN¥28.7m | CN¥917.9m |
| Net income | CN¥795.8m | CN¥694.4m | CN¥285.7m | CN¥650.7m | CN¥813.0m | CN¥744.0m | −CN¥144.1m | CN¥701.8m |
| Diluted earnings per share | 0.12 | 0.11 | 0.04 | 0.10 | 0.12 | 0.11 | -0.02 | 0.10 |
| Cash from operations | — | — | — | CN¥2.37bn | CN¥1.41bn | CN¥887.0m | — | CN¥2.15bn |
| Capital spending | −CN¥1.16bn | −CN¥520.0m | −CN¥1.79bn | −CN¥761.0m | −CN¥617.0m | −CN¥601.0m | −CN¥2.25bn | −CN¥245.0m |
| Free cash flow | — | — | — | CN¥1.61bn | CN¥790.0m | CN¥286.0m | — | CN¥1.91bn |
| Total assets | CN¥49.68bn | CN¥48.59bn | CN¥48.65bn | CN¥40.79bn | CN¥40.59bn | CN¥40.18bn | CN¥39.88bn | CN¥39.98bn |
| Cash and short-term investments | — | — | — | CN¥1.47bn | CN¥1.04bn | CN¥1.08bn | CN¥709.3m | CN¥1.89bn |
| Debt | CN¥8.20bn | CN¥8.24bn | CN¥8.24bn | CN¥5.10bn | CN¥8.25bn | CN¥9.01bn | CN¥10.01bn | CN¥7.89bn |
| Shareholders' equity | CN¥20.84bn | CN¥21.87bn | CN¥15.74bn | CN¥17.33bn | CN¥18.11bn | CN¥18.76bn | CN¥17.90bn | CN¥19.67bn |
Financial ratios
Data as of 20 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 19.4% | 14.4% | 13.4% | 12.8% | 6.6% | 11.5% |
| Net margin | 11.8% | 10.4% | 8.9% | 7.7% | 2.6% | 4.9% |
| Return on equity | 15.8% | 13.0% | 10.9% | 10.2% | 3.1% | 5.1% |
| Return on assets | 5.1% | 5.8% | 5.1% | 4.4% | 1.2% | 1.8% |
| Free cash flow yield | 33.2% | 27.1% | 24.4% | 20.1% | 13.0% | 17.0% |
| Revenue growth | -5.6% | -1.0% | -2.3% | 21.4% | 23.7% | 6.1% |
| Earnings growth | 7.2% | 16.0% | 13.4% | 257.0% | -34.8% | -31.2% |
| Current ratio | 0.39x | 0.73x | 1.13x | 0.75x | 0.56x | 0.37x |
| Debt to equity | 0.52x | 0.56x | 0.55x | 0.70x | 1.06x | 1.29x |
| Equity ratio | 32.4% | 44.9% | 46.4% | 43.3% | 38.9% | 34.7% |
| Interest coverage | 14.42x | 11.15x | 7.54x | 5.04x | 1.68x | 2.03x |
| R&D as a share of sales | 0.3% | 0.2% | 0.2% | 0.1% | 0.0% | 0.1% |
| Buybacks as a share of market value | 3.2% | -3.3% | 0.0% | 0.0% | -6.0% | 9.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.0% | 6.5% | 6.9% |
| Operating income | 11.4% | 18.3% | 10.1% |
| Net income | 12.2% | 26.9% | 13.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 16.8% | 14.9% | 13.2% | 12.9% |
| Net margin | 11.1% | 9.7% | 8.0% | 7.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 11.7 | 12.6 | 12.7 | 12.9 | 51.9 | 20.9 | 16.9 | 18.1 | 33.5 | 46.2 |
| Price to sales | 1.4 | 1.3 | 1.1 | 1.0 | 1.4 | 1.0 | 1.3 | 1.0 | 1.5 | 1.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 14 years. Last went ex-dividend on 28 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.22 | 0.22 | 0.185 | 0.164 | 0.10 | 0.126 | 0.126 | 0.096 |
- 3-for-2 split · 25 Jul 2014
- 3-for-2 split · 8 Jul 2013
- 1-to-1 reverse split · 24 Apr 2006
- 2-for-1 split · 28 Apr 2003
- 13-for-10 split · 15 May 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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