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China Three Gorges Renewables (Group) Co Ltd Class A 600905

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CN¥3.34 +0.03 (0.91%)
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Weak Wind Resources and Lower Tariffs Continue to Pressure China Three Gorges Renewables' Earnings

Chokwai Lee

China Three Gorges Renewables is a subsidiary of China Three Gorges, the largest hydropower producer in the world and a leading renewable energy player in China. While other sister companies like China Yangtze Power focus on hydropower, CTGR concentrates on other renewable energy, including solar and wind. CTGR has a total generation capacity of about 52.4 gigawatts as of the end of 2025. The firm is also one of the largest offshore wind farm operators in China, with 7.5 GW of installed capacity at the end of 2025. Furthermore, CTGR owns about a 9.2% direct stake in Goldwind Science & Technology, a leading wind turbine manufacturer, as of the end of 2025.

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Price vs Fair Value

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600905 is trading at a LOCK|!dfGBcv premium.
Price
CN¥3.34
Fair Value
LOCK|<Q
Uncertainty
LOCK|$?
1-Star Price
LOCK|V#S
5-Star Price
LOCK|#>$
Economic Moat
LOCK|$hp
Capital Allocation
LOCK|nrPn?DX

Bulls Say, Bears Say

Bulls

CTGR’s scale and experience should support faster expansion and stronger project wins.

Bears

Increasing contribution from grid parity projects lowers CTGR’s future returns.

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Trading Information

Previous Close Price
CN¥3.31
Day Range
CN¥3.28–3.35
52-Week Range
CN¥3.28–4.67
Bid/Ask
CN¥3.34 / CN¥3.35
Shares Outstanding
28.59B
Market Cap
CN¥95.48B
Volume/Avg
121M / 79M

Key Statistics

Price/Earnings (Normalized)
85.32
Price/Sales
3.54
Dividend Yield (Trailing)
1.23%
Dividend Yield (Forward)
1.23%
Dividend Payment Schedule
Jul
Total Yield
1.23%

Company Profile

China Three Gorges Renewables is one of China’s largest renewable energy producers. The firm operates wind farms, photovoltaic power plants, hydroelectric power plants, and energy storage projects. CTGR has a total generation capacity of about 52.4 gigawatts as of the end of 2025. The firm is also one of the largest offshore wind farm operators in China, with 7.5 GW of installed capacity at the end of 2025. Parent company China Three Gorges, a state-owned enterprise, owns approximately 52.3% of CTGR’s issued shares as of the end of 2025.
Sector
Utilities
Industry
Utilities - Renewable
Stock Style Box
Large Value
Total Number of Employees
7,427
Website
https://www.ctgne.com

Competitors

Valuation

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Metric
600905
01798
00836
Price/Earnings (Normalized)
 85.3225.047.18
Price/Book Value
 1.080.290.79
Price/Sales
 3.540.510.90
Price/Cash Flow
 4.460.752.70
Price/Earnings
600905
01798
00836

Financial Strength

Metric
600905
01798
00836
Quick Ratio
 0.841.280.69
Current Ratio
 0.891.310.76
Interest Coverage
 1.501.695.31
Quick Ratio
600905
01798
00836

Profitability

Metric
600905
01798
00836
Return on Assets (Normalized)
 0.28%0.80%3.34%
Return on Equity (Normalized)
 1.23%4.69%12.35%
Return on Invested Capital (Normalized)
 1.27%1.74%4.78%
Return on Assets
600905
01798
00836

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