1. People's Republic of China Stocks

  2. •

    Utilities

  3. •

    Regulated Electric
Beijing Jingneng Thermal Co. Ltd. Class A

Beijing Jingneng Thermal Co. Ltd. Class A

002893.SZ
Beijing Jingneng Thermal Co. Ltd. Class ACN flagShenzhen Stock Exchange
9.32
CNY
-0.06
- -
2.46BMarket Cap
Beijing Jingneng Thermal Co. Ltd. Class A
002893.SZ
(Shenzhen Stock Exchange)

Recent

price

9.32

P/E

ratio

- -

div

yld

- -

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
- -
- -
4.85
5.62
5.68
5.6
6.26
4.48
4.67
5.14
5
5.17
4.01
5.14
4.47
Revenue per Share
- -
- -
0.3
0.33
0.33
0.32
0.28
0.23
0.14
0.14
0.15
0.26
0.25
0.24
0.28
Basic EPS, GAAP
- -
- -
-0.32
0.29
0.42
-0.77
0.18
0.61
0.2
0.67
0.86
1.16
0.78
0.02
-0.26
Free Cash Flow per Basic Share
- -
- -
0.12
0.12
0.09
0.1
0.2
0.26
0.24
0.14
0.16
0.11
0.12
0.12
0.17
Dividend per Share
- -
- -
0.99
1.3
1.61
1.98
2.18
1.9
2.2
2.41
2.43
2.89
2.42
2.63
2.82
Book Value per Share
- -
- -
1.51
1.83
2.17
3.68
3.93
3.07
2.58
2.85
2.88
5.07
4.18
4.14
4.4
Tangible Book Value per Share
- -
- -
151
152
152
163
154
205
204
196
206
210
267
259
264
Basic Weighted Avg Shares
544
641
734
856
863
915
966
920
952
1,005
1,029
1,085
1,070
1,333
1,181
Sales/Revenue/Turnover
9.61
11.25
9.3
9.87
10.74
11.1
8.29
9.05
7.94
8.77
9.34
10.78
13.01
13.14
15.05
Operating Margin (%)
- -
- -
20
25
37
43
50
49
71
100
97
91
85
98
- -
Depreciation Expense
24
37
45
50
49
52
43
47
29
27
31
55
67
62
73
Net Income, GAAP
34.41
26.43
9.26
7.23
21.12
26.21
28.92
24.9
- -
- -
3.09
22.22
8.87
6.42
12.3
Effective Tax Rate (%)
4.4
5.73
6.1
5.79
5.73
5.71
4.42
5.14
3
2.72
3
5.03
6.24
4.67
6.22
Profit Margin (%)
-212
-111
-136
-215
-148
-92
-77
161
-440
-428
-359
320
432
323
501
Working Capital
21
35
35
9
54
29
3
159
133
111
2
109
107
59
107
LT Debt
43
179
237
287
340
610
618
636
611
639
669
1,143
1,191
1,431
1,464
Total Equity
- -
19.05
14.67
14.36
12.38
9.64
5.66
5.7
- -
- -
8.66
7.35
9.04
9.97
9.03
Return on Invested Capital (%)
- -
26.18
18.82
16.14
12.59
10.36
7.84
7.95
- -
- -
6.54
6.44
7.49
5.11
6.28
Return on Capital (%)
- -
76
40.77
28.44
22.28
18.36
12.96
13
6.81
5.96
6.36
9.87
10.66
9.38
10.1
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
ST Debt
223
309
318
LT Borrowings
100
118
102
LT Finance Leases
7
10
5
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
264
264
264
Market Capitalization
2,679
2,607
2,821

Working Capital

FRC

•

in mil. unless spec.
Dec'24
Mar'25
Jun'25
Total Current Assets
1,492
1,596
1,320
Cash, Cash Equivalents & STI
936
737
474
Accounts Receivable, Net
342
524
475
Inventories
75
56
46
Total Current Liabilities
1,060
961
819
Payables & Accruals
- -
- -
- -
ST Debt
223
309
318
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
20.25%
20.9%
20.18%
Free Cash Flow
9.93%
35.91%
-97.38%
Net Income, GAAP
5.93%
20.22%
-6.72%
Sales/Revenue/Turnover
4.78%
7.33%
24.59%
Total Cash Common Dividend
12.9%
-4.03%
3.41%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
654
9
7
399
1,070
2025
688
86
501
- -
1,333
2026
735
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.67
- -
- -
- -
0.25
2025
0.71
- -
- -
- -
0.24
2026
0.72
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.12
2025
0.01
- -
- -
- -
0.12
2026
0.03
- -
- -
- -
- -
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Business
Beijing Jingneng Thermal Co. Ltd. Class A (002893.SZ) operates as a comprehensive urban energy service provider primarily engaged in the production and supply of thermal energy, electricity, and related utilities in China. The company offers core products and services including centralized heating supply; combined heat and power (CHP) generation; steam production and distribution; cooling services; gas pipeline operations; and energy engineering solutions such as design, construction, and maintenance of thermal infrastructure. It serves residential, commercial, industrial, and governmental customers mainly in the Beijing-Tianjin-Hebei region, with a network of heating pipelines exceeding thousands of kilometers and multiple cogeneration plants. Founded in 2004 and headquartered in Beijing, the company functions as a subsidiary of Beijing Energy International Holding Co., Ltd., focusing on clean energy transition amid China's carbon neutrality goals. In recent developments within the last two years, Beijing Jingneng Thermal has expanded its capacity through the commissioning of new CHP units and pipeline extensions in key districts, enhancing heating coverage for millions of households. The company formed strategic partnerships with local governments for green heating projects, including hydrogen blending pilots and ultra-supercritical coal-fired units upgrades to reduce emissions. Additionally, it completed acquisitions of smaller regional heat suppliers and secured funding for digital energy management systems rollout, supporting operational efficiency gains reported in 2024-2025 filings.