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    Alternative power generation
CECEP Solar Energy Co., Ltd. Class A

CECEP Solar Energy Co., Ltd. Class A

SSZSE:000591
3.98
CNY
+0.02
(+0.51%)
0.14EPS
31.27P/E
17.96BMarket Cap
Oct 28Next Earn
CECEP Solar Energy Co., Ltd. Class A
SZSE:000591
(Shenzhen Stock Exchange)

Recent

price

3.98

P/E

ratio

31.27

div

yld

5.68%

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
CNY
7.19
7.93
7.79
7.67
2.24
2.27
1.59
1.73
1.68
1.67
1.76
2.34
2.73
2.44
1.54
1.26
1.18
Revenue per Share
0.03
0.02
0.05
0.05
0.25
0.3
0.24
0.27
0.29
0.3
0.34
0.4
0.41
0.4
0.31
0.21
0.15
Basic EPS, GAAP
0.02
0.06
0.21
-0.2
-1.7
-1.6
-0.99
-0.36
0.13
-0.2
0.21
0.42
0.86
-0.21
-0.44
0.07
- -
Free Cash Flow per Basic Share
0.01
0.08
0.06
0.05
0.31
0.5
0.21
0.25
0.31
0.39
0.42
0.43
0.36
0.28
0.3
0.25
0.23
Dividend per Share
0.65
0.63
0.68
0.75
9.17
9.97
3.76
4.02
4.23
4.43
4.67
4.95
5.58
5.87
5.99
6.07
6.21
Book Value per Share
0.49
0.46
0.42
0.49
8.51
9.32
3.62
3.89
4.1
4.26
4.5
4.78
5.45
5.74
5.82
5.82
5.95
Tangible Book Value per Share
604
603
604
604
1,589
1,600
2,733
3,002
3,004
3,006
3,008
3,007
3,383
3,909
3,912
3,919
3,917
Basic Weighted Avg Shares
4,344
4,783
4,708
4,635
3,552
3,630
4,333
5,205
5,037
5,011
5,305
7,027
9,236
9,540
6,039
4,957
4,628
Sales/Revenue/Turnover
0.61
0.99
1.45
1.35
21.57
27.73
27.16
29.71
34.02
42.02
42
35.5
26.45
27.46
37.56
37.67
34
Operating Margin (%)
40
42
45
53
389
528
653
868
990
1,160
1,251
1,373
1,434
1,397
1,465
1,683
- -
Depreciation Expense
17
10
30
33
390
473
653
805
862
911
1,028
1,189
1,388
1,579
1,225
823
576
Net Income, GAAP
24.94
74.26
39.55
30.09
4.13
6.38
6.86
4.66
6.75
9.94
13.65
13.93
16.28
17.51
21.56
26.23
31.44
Effective Tax Rate (%)
0.4
0.22
0.65
0.71
10.98
13.02
15.07
15.46
17.12
18.18
19.38
16.92
15.03
16.55
20.29
16.59
12.45
Profit Margin (%)
-38
-132
-390
-338
-776
-569
2,130
1,037
750
1,709
5,168
6,073
10,403
8,158
8,514
7,096
8,870
Working Capital
- -
20
12
73
5,802
8,756
10,472
12,191
12,487
15,595
19,168
18,080
15,909
15,488
18,085
19,510
22,331
LT Debt
531
513
532
561
5,751
6,219
11,521
12,249
12,874
13,467
14,165
14,916
21,842
22,998
23,519
23,900
24,323
Total Equity
0.96
0.17
0.53
-0.58
3.93
2.97
3.09
3.15
3
3.05
2.86
2.94
3.5
3.66
2.73
1.76
1.07
Return on Invested Capital (%)
4.27
3.12
7.38
9.06
6.54
6.13
5.61
5.7
5.64
5.59
5.43
5.58
5.26
4.96
3.81
2.75
2.11
Return on Capital (%)
4.63
2.7
7.63
7.63
13.01
8.18
7.54
6.88
6.94
6.99
7.51
8.22
7.56
7.05
5.28
3.48
2.4
Return on Common Equity (%)

Capital Structure

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
4,193
5,290
3,801
LT Borrowings
18,113
19,483
20,783
LT Finance Leases
1,397
1,547
1,547
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
3,924
3,926
3,905
Market Capitalization
17,425
21,513
17,962

Working Capital

CNY

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
14,546
15,413
15,342
Cash, Cash Equivalents & STI
2,278
2,541
2,368
Accounts Receivable, Net
11,856
12,522
12,543
Inventories
75
82
125
Total Current Liabilities
7,450
8,186
6,472
Payables & Accruals
- -
- -
- -
ST Debt
4,193
5,290
3,801
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
16.74%
12.18%
1.62%
Free Cash Flow
-54.74%
20.09%
-115.88%
Net Income, GAAP
7.79%
-1.82%
-32.87%
Sales/Revenue/Turnover
5.42%
2.52%
-17.91%
Total Cash Common Dividend
3.59%
-4.92%
-16.7%

Quarterly Revenue

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,411
1,833
1,530
1,266
6,039
2025
1,300
1,397
- -
856
4,957
2026
1,061
1,314
- -
- -
- -

Quarterly Earnings Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.09
0.12
0.12
-0.02
0.31
2025
0.07
0.1
- -
-0.08
0.21
2026
0.05
0.08
- -
- -
- -

Quarterly Dividends Per Share

CNY

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.04
0.18
0.04
0.3
2025
0.07
0.06
- -
0.03
0.25
2026
0.09
0.04
- -
- -
- -
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Business
CECEP Solar Energy Co., Ltd. (000591.SZ) principally engages in the investment, construction, operation, and maintenance of solar photovoltaic power plants; the research, development, manufacture, and sale of solar cell modules and components including monocrystalline silicon products, polycrystalline silicon batteries, high-power bifacial modules up to 720Wp, flexible lightweight panels, full-black residential modules, BIPV modules, and balcony PV modules; and the generation and sale of solar electricity alongside related services such as project planning, design consultation, engineering integration, after-sale support, and AI application software and hardware. A holding subsidiary of China Energy Conservation and Environmental Protection Group Co., Ltd., the company, founded in 1996 and headquartered in Beijing with key operations in Zhenjiang, Jiangsu, primarily serves domestic markets in China across ground, surface, tidal, distributed, fishery-PV, agricultural-PV, and energy storage-integrated projects while expanding internationally. In recent developments, CECEP Solar Energy signed a cooperation agreement in September 2025 for a 600MW photovoltaic power station in Kyrgyzstan's Batken region as part of the Batken Green Energy + Green Agriculture and Animal Husbandry Industrial Park, with a total investment of approximately RMB 2.853 billion; announced pre-acquisition agreements for 1.529GW of solar power plants as of mid-2025 toward a 13.6GW total portfolio target by year-end; and continues advancing overseas projects in Central Asia, Central and Eastern Europe, and Belt and Road regions.