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4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  China Shenhua Energy Company Limited    601088   CNE100000767

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Shenhua and Guodian - China's latest state marriage

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08/30/2017 | 02:51am CET

China's top coal miner Shenhua Group Corp Ltd [SHGRP.UL] will take over China Guodian Group Corp [CNGUO.UL], among the country's top five state power producers, in a deal that will create the world's largest power utility worth $278 billion.

With an estimated 326,000 staff, it will have a workforce almost four times bigger than the entire U.S. coal-fired power industry in 2016.

The combined entity will have an installed capacity topping 225 gigawatts (GW), eclipsing EDF (>> Electricité de France) and Enel (>> Enel) to become the world's biggest power company by capacity.

It will also be the largest wind power developer in the world with 33 gigawatts of capacity and the biggest coal producer.

Here is a breakdown of each companies' operations:

GUODIAN GROUP:

Guodian Group had total installed capacity of 143 gigawatts of power, including 26.17 GW of wind at end-June. It is also a leading hydropower and renewables developer and produced 58.72 million tonnes of coal in the first of the year.

Its listed unit GD Power (>> GD Power Development Co Ltd) has 22 coal-fired power plants with capacity of 34.3 GW and also has 7.6 GW under construction. Five of those operating plants lost money in the first half.

According to Fortune magazine, it had 124,057 staff.

Other listed units of China Guodian are Guodian Changyuan Electric Power Co Ltd (>> Guodian Changyuan Electric Power Co. Ltd), Yantai LongYuan Power Technology Co Ltd (>> Yantai Longyuan Power Technology Co.,Ltd) and Ningxia Younglight Chemicals Co Ltd (>> Ningxia Younglight Chemicals Co Ltd).

SHENHUA GROUP:

Shenhua said on Monday it expects to produce 278 million tonnes of coal in 2017, down from a previous target of 290 million tonnes. It also set a sales target of 396 million tonnes for 2017.

In 2016, it accounted for 8 percent of China's total output and produced almost four times more than the second-largest producer Shanxi Coking Coal Group Co Ltd.

Its website says that at end-2015 it had 54 coal mines; total installed power capacity of 78.5 GW; 2,155 km of rail network; and a port cargo capacity of 270 million tonnes.

According to Fortune, it has a workforce of 202,200 staff.

Shenhua's listed unit Shenhua Energy Co Ltd (>> China Shenhua Energy Company Limited) has 18 power plants with capacity of 33 GW, with 3.9 GW under construction.

Seven of those were in deep loss in the first half. The listed company was one of the most profitable public commodity companies in the first half.

(Reporting by Josephine Mason and Meng Meng; Editing by Tom Hogue)

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Financials ( CNY)
Sales 2017 231 B
EBIT 2017 72 251 M
Net income 2017 39 076 M
Debt 2017 47 633 M
Yield 2017 3,73%
P/E ratio 2017 10,72
P/E ratio 2018 10,96
EV / Sales 2017 2,03x
EV / Sales 2018 1,92x
Capitalization 421 B
Chart CHINA SHENHUA ENERGY COMPA
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China Shenhua Energy Compa Technical Analysis Chart | 601088 | CNE100000767 | 4-Traders
Technical analysis trends CHINA SHENHUA ENERGY COMPA
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 23,0  CNY
Spread / Average Target 3,8%
EPS Revisions
Managers
NameTitle
Wen Ling Vice Chairman & President
Richeng Zhai Chairman-Supervisory Board
Ke Hui Zhang Chief Financial Officer
Jian Guo Han Executive Director
Hua Zhang Gong Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
CHINA SHENHUA ENERGY COMPANY LIMITED35.17%63 690
GLENCORE26.66%67 707
COAL INDIA LTD-11.95%25 979
SHAANXI COAL INDUSTRY CO LTD65.36%12 114
CHINA COAL ENERGY COMPANY LIMITED0.69%9 862
YANZHOU COAL MINING CO LTD20.90%7 872