China Resources Power Holdings (0836) Fair Value & Analysis
Utilities · HK · Market cap HK$87.6B
Fair value as of: Aug 13, 2026
From 14 valuation models · updated today
Fair value updated Aug 13, 2026, revised from HK$38.70 to HK$36.45 (−5.8%) since Aug 5, 2026. Share price +2.1% over the past month.
Below-average quality, screening 100% undervalued on our models.
What matters now
- The large discount to fair value meets weak quality (33/100). That raises the risk this is a value trap rather than a bargain.
- The price is below even our cautious bear case (HK$27.33). The market is more pessimistic than our downside scenario.
- A fairly wide model range (HK$27.33 to HK$53.58) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range HK$7.37 – HK$22.81 · fair‑value band HK$27.33 – HK$53.58 · the HK$18.20 price screens below the HK$36.45 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
China Resources Power Holdings (0836) currently trades at HK$18.20, while our model-based Fair Value estimate is HK$36.45, implying the stock looks roughly 100.3% undervalued today. The Quality Score stands at 33/100 (below-average quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, China Resources Power Holdings generated revenue of HK$102B at a net margin of 14.2%. Revenue declined 4.5% year over year. It earns a return on equity of 12.8%. Net debt stands at HK$212B. Fundamentals as of Aug 13, 2026
Our scenario range runs from HK$27.33 (bear case) to HK$53.58 (bull case); at HK$18.20, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat. The share trades about 15% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -55% fair-value upside, at 100%, 0836 screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 14 models by family
Widest divergence: Growth Earnings (HK$40.83) versus Economic Profit (HK$10.87). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 32 · Market factors (momentum, volatility) 52
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
China Resources Power Holdings Company Limited, an investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People's Republic of China. The company operates in two segments, Thermal Power and Renewable Energy.
Full company description
China Resources Power Holdings Company Limited, an investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People's Republic of China. The company operates in two segments, Thermal Power and Renewable Energy. It operates and manages coal- and gas-fired power plants, wind farms, photovoltaic power plants, hydro-electric power plants, and other clean and renewable energy projects. As of December 31, 2025, the company had 50 coal-fired power plants, 221 wind farms, 221 photovoltaic power plants, 20 hydroelectric plants, and 6 gas-fired plants with total attributable grid-connected installed capacity was 89,647MW. It is also involved in the distribution of energy, power sale, smart energy, coal mining, and other areas. The company was incorporated in 2001 and is based in Wan Chai, Hong Kong. China Resources Power Holdings Company Limited operates as a subsidiary of CRH (Power) Limited.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China Resources Power Holdings reported revenue of HK$102B in FY2025 versus HK$90.4B in FY2021, a compound +3.1%/yr. Reported net income was HK$14.8B in FY2025, compounding +62.2%/yr from FY2021.
of which total revenue +4.5 pp · buybacks/dilution −0.4 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
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Peer Group
Utilities - Independent Power Producers · 77 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Independent Power Producers median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Constellation Energy Corporation CEG | $278.68 | $88.09 | -68% |
| Vistra Corp VST | $146.68 | $50.39 | -66% |
| Adani Power Limited ADANIPOWER | ₹206.10 | ₹75.57 | -63% |
| CGN Power Co 003816 | ¥3.93 | ¥2.79 | -29% |
| NRG Energy, Inc NRG | $120.66 | $53.91 | -55% |
| Gulf Development Public Company GULF | 65.00 THB | 39.25 THB | -40% |
| Adani Energy Solutions Limited ADANIENSOL | ₹1,583 | ₹342.02 | -78% |
| Talen Energy Corporation TLN | $365.07 | $43.55 | -88% |
| Datang International Power Generation Co 601991 | ¥6.29 | ¥4.95 | -21% |
| Power Assets Holdings 0006 | HK$57.30 | HK$30.76 | -46% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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