China Three Gorges Renewables (Group) Co (600905) Fair Value & Analysis
Utilities · CN · Market cap 108B CNY
Fair value as of: Aug 13, 2026
From 13 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from ¥2.48 to ¥2.40 (−3.2%) since Jul 16, 2026.
Below-average quality, and screening another 36% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (¥2.76). The favourable scenario is already priced in.
- Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
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 ¥3.61 – ¥7.56 · fair‑value band ¥2.23 – ¥2.76 · the ¥3.77 price screens above the ¥2.40 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
China Three Gorges Renewables (Group) Co (600905) currently trades at ¥3.77, while our model-based Fair Value estimate is ¥2.40, implying the stock looks roughly 36.3% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, China Three Gorges Renewables (Group) Co generated revenue of 27.7B CNY at a net margin of 8.3%. Revenue declined 8.9% year over year. It earns a return on equity of 2.5%. Net debt stands at 168B CNY. Fundamentals as of Aug 13, 2026
Our scenario range runs from ¥2.23 (bear case) to ¥2.76 (bull case); at ¥3.77, the current price sits above 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 share trades about 19% below its 52-week high, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -11% fair-value upside, at -36%, 600905 screens richer 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 13 models by family
Widest divergence: Growth Earnings (¥3.88) versus Asset-Based (¥2.08). 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 37 · Market factors (momentum, volatility) 46
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 Three Gorges Renewables (Group) Co.,Ltd. engages in the development, investment, and operation of wind and solar energy in China.
Full company description
China Three Gorges Renewables (Group) Co.,Ltd. engages in the development, investment, and operation of wind and solar energy in China. The company develops offshore wind power projects with a cumulative installed capacity of 7.0498 million kilowatts, onshore wind power projects with a cumulative installed capacity of over 7.5 million kilowatts, photovoltaic power stations with a cumulative installed capacity of over 7 gigawatts, and small and medium-sized hydropower project with an installed capacity of 220 megawatts. China Three Gorges Renewables (Group) Co.,Ltd. was founded in 1985 and is based in Beijing, China.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
China Three Gorges Renewables (Group) Co reported revenue of ¥28.4B in FY2025 versus ¥16.4B in FY2021, a compound +14.7%/yr. Reported net income was ¥3.7B in FY2025, compounding −12.9%/yr from FY2021.
600905 screens 36% overvalued. Compare with China Yangtze Power Co →
Peer Group
Utilities - Renewable · 220 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 - Renewable 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.
VALUE 0: the price sits above our fair-value range.
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 - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Yangtze Power Co 600900 | ¥28.02 | ¥25.13 | -10% |
| Ørsted A/S ORSTED | kr 148.25 | kr 31.40 | -79% |
| Huaneng Lancang River Hydropower Inc 600025 | ¥9.69 | ¥5.57 | -43% |
| Adani Green Energy Limited ADANIGREEN | ₹1,319 | ₹169.61 | -87% |
| AXIA Energia SA AXIAP | $10.74 | $9.54 | -11% |
| VERBUND AG OEWA | €56.80 | €66.19 | +17% |
| BEP BEP | $34.23 | $70.40 | +106% |
| BEPUN BEPUN | C$44.56 | C$10.15 | -77% |
| China Longyuan Power Group 001289 | ¥15.92 | ¥7.55 | -53% |
| SDIC Power Holdings 600886 | ¥13.95 | ¥16.63 | +19% |
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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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