China Renewable Energy Investment Ltd (0987) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of China Renewable Energy Investment Ltd stock HK$0.44, price HK$0.20, upside +120.0%, quality 65 out of 100. Rating: strongly undervalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 12, 2026.
How to read this chart
60‑month range HK$0.0887 – HK$0.3501 · fair‑value band HK$0.4100 – HK$0.4800 · the HK$0.2000 price screens below the HK$0.4400 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 12, 2026.
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China Renewable Energy Investment Limited, an investment holding company, engages in the renewable energy business in the People's Republic of China and Hong Kong.
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As of December 31, 2025, the company operated eight wind farms with the power generating capacity of 738 megawatts and one distributed solar project in Gansu, Hebei, Heilongjiang, Henan, Inner Mongolia, and Zhejiang provinces.
It also offers human resources management services, as well as distributes solar energy and sells electricity. The company was formerly known as Hong Kong Energy (Holdings) Limited and changed its name to China Renewable Energy Investment Limited in June 2011.
The company was incorporated in 2002 and is headquartered in Tsim Sha Tsui, Hong Kong. China Renewable Energy Investment Limited operates as a subsidiary of HKC (Holdings) Limited.
Stock analysis
China Renewable Energy Investment Ltd (0987) currently trades at HK$0.2000, while our model-based Fair Value estimate is HK$0.4400, implying the stock looks roughly 55% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of HK$1.33 per share, and 12 of the 25 models we run sit above the HK$0.2000 price.
Bear case: the Dividend Discount group reads lowest at HK$0.0600, and 13 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: HK$0.4100 (bear) to HK$0.4800 (bull), the price of HK$0.2000 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
China Renewable Energy Investment Ltd reported revenue of HK$172M in FY2025 versus HK$250M in FY2021, a compound −8.9%/yr. Reported net income was HK$19.5M in FY2025, compounding −35.6%/yr from FY2021.
Key figures
Market cap HK$501M (≈ $63.9M) Micro · P/E ratio 19.8 · P/S ratio 2.24 · Dividend yield 2.5% · Net margin 11.3% · Return on equity −1.3% · Return on assets (EBIT) 0.8% (5-year average) · Operating margin −23.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 17 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 66% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −53% fair-value upside, at 120%, 0987 screens cheaper than that median.
Fair Value models
BearHK$0.4100Fair Value HK$0.4400BullHK$0.4800
Price HK$0.2000 · Upside +120.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+5.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−4.4%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.5%
Start year 2020 (pandemic). Over 10 years: +2.6% a year
Revenue growth 23 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−2.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
−23.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year−25.7%
Dividend (yield on the price)2.5%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−25.7% vs −6.7%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.39% → 5%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−38.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Hong Kong: IMF forecast 2.1% a year to 2030, 1.8% from 2016 to 2025) that is about −39.5% a year for the price.
Compare China Renewable Energy Investment Ltd with another stock
Price, fair value, quality and upside side by side.
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Peer Groupⓘ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.Utilities - Renewable · 218 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score65 · Top 25%
Fair Value upside+120.0% · Top 25%
Profitability
Return on assets0.9% · Below median
Net margin (12 months)−14.3% · Bottom 25%
Operating margin (12 months)−23.2% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−24.9% · Bottom 25%
Dividend yield (12 months)2.5% · Above median
Balance sheet
Debt / equity0.09× · Lowest 25%
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "China Renewable Energy Investment Ltd Fair Value". https://www.fairvalue-calculator.com/stock/0987
Frequently asked questions
Is China Renewable Energy Investment Ltd (0987) overvalued or undervalued?
As of Nov 12, 2026, our model estimates a fair value of HK$0.4400 versus a price of HK$0.2000, about +120% upside (undervalued).
What is the fair value of 0987?
Our model-based fair value for China Renewable Energy Investment Ltd is HK$0.4400 (as of Nov 12, 2026), built from audited fundamentals. The current price: HK$0.2000.
What is the quality score of 0987?
China Renewable Energy Investment Ltd has a Quality Score of 65/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for China Renewable Energy Investment Ltd (0987)?
Our model-based price target is the fair value of HK$0.4400 (as of Nov 12, 2026) from 25 valuation models. Cautious scenario HK$0.4100, optimistic scenario HK$0.4800. It is a calculation from audited fundamentals, not an analyst target.
What is the China Renewable Energy Investment Ltd stock forecast for 2026?
Our models put fair value at HK$0.4400, about +120% upside versus a price of HK$0.2000 (undervalued). Cautious scenario HK$0.4100, optimistic scenario HK$0.4800. The calculation is refreshed regularly with new filings.
What is the revenue of China Renewable Energy Investment Ltd (0987)?
China Renewable Energy Investment Ltd reported trailing-twelve-month revenue of about HK$149M (latest available figure, as of Nov 12, 2026).
Does China Renewable Energy Investment Ltd pay a dividend?
China Renewable Energy Investment Ltd currently shows a dividend yield of 2.50% relative to its recent price (as of Nov 12, 2026).
How much is the dividend of China Renewable Energy Investment Ltd (0987) and when is the ex-dividend date?
China Renewable Energy Investment Ltd pays a dividend of HK$0.005 per share a year, a dividend yield of 2.5%. The last ex-dividend date was Jun 15, 2026. A dividend has been paid every year since 2016. The payout ratio is 64.3% of earnings. Free cash flow covers the dividend 15.67 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into China Renewable Energy Investment Ltd (0987)?
Today's price is already fair in a discounted-cash-flow model if free cash flow at China Renewable Energy Investment Ltd shrinks by 38.2 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue fell 3.5 % per year. As of Nov 12, 2026.
What discount rate (WACC) does the fair value of 0987 use?
Our models discount China Renewable Energy Investment Ltd at 11.8 %: a base by market capitalisation (micro), damped by beta 0.32, country premium for Hong Kong. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For China Renewable Energy Investment Ltd that is -38.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has China Renewable Energy Investment Ltd (0987) delivered so far?
Over the past 5 years revenue at China Renewable Energy Investment Ltd shrank 3.5 % a year. The price currently implies free-cash-flow growth of -38.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of China Renewable Energy Investment Ltd (0987) growing?
The median revenue growth in the sector is +4.8 % a year. That is the yardstick for the growth priced into China Renewable Energy Investment Ltd (-38.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of China Renewable Energy Investment Ltd (0987)?
The free-cash-flow yield on the price is 39.17 %: that much free cash flow China Renewable Energy Investment Ltd produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of China Renewable Energy Investment Ltd (0987)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For China Renewable Energy Investment Ltd it is HK$0.4400 per share (as of Nov 12, 2026), against a price of HK$0.2000. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is China Renewable Energy Investment Ltd stock overvalued or undervalued in 2026?
As of Nov 12, 2026, 0987 trades below its calculated fair value: price HK$0.2000, fair value HK$0.4400, a gap of about +120% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0987?
No. The price is what the market pays today (HK$0.2000); the fair value is what the company's own numbers justify (HK$0.4400). For China Renewable Energy Investment Ltd the two are HK$0.2400 per share apart. That gap is exactly why we show both numbers side by side.
How much is China Renewable Energy Investment Ltd worth?
The market values China Renewable Energy Investment Ltd at about HK$501M (market capitalisation, as of Nov 12, 2026). Per share that is HK$0.2000; our models calculate a fair value of HK$0.4400 per share.
What do the bullish and bearish scenarios say about 0987?
Our models span a range for China Renewable Energy Investment Ltd: cautious scenario HK$0.4100, base HK$0.4400, optimistic HK$0.4800 per share (as of Nov 12, 2026, price HK$0.2000). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 0987?
China Renewable Energy Investment Ltd trades at a price-to-earnings ratio of 19.8 (as of Nov 12, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of HK$0.4400 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 10.9. Other multiples: P/B 0.3, P/S 3.4, EV/EBITDA 3.2.
How solid is the balance sheet of China Renewable Energy Investment Ltd (0987)?
Balance-sheet figures for China Renewable Energy Investment Ltd (as of Nov 12, 2026): return on equity −1.3%, debt of 0.09 per unit of equity. They feed the Quality Score of 65/100, which measures business quality independently of the share price.
How far is 0987 from its 52-week high?
China Renewable Energy Investment Ltd trades at HK$0.2000, about 16% below its 52-week high of HK$0.2367 and 66% above the low of HK$0.1203 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of HK$0.4400 is for.
Which stocks are comparable to China Renewable Energy Investment Ltd?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, VERBUND AG, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is China Renewable Energy Investment Ltd stock attractive at the current price?
The data as of Nov 12, 2026: price HK$0.2000, calculated fair value HK$0.4400 (+120%), Quality Score 65/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0987 calculated?
We run China Renewable Energy Investment Ltd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of HK$0.4400 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1% above its aggregate fair value. China Renewable Energy Investment Ltd currently trades 55% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of China Renewable Energy Investment Ltd (0987)?
The closing price on Nov 13, 2026 was HK$0.2000. Our model-based fair value is HK$0.4400, about +120% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with China Renewable Energy Investment Ltd right now?
The price is below even our cautious bear case (HK$0.4100). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (65/100) at a price below fair value, the discount is the argument here, not the business quality.
Where does the earnings growth of China Renewable Energy Investment Ltd (0987) come from?
Earnings per share at China Renewable Energy Investment Ltd fell 7.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +3.8 %, EBIT margin −8.9 %, tax rate −3.0 %, residual (interest, one-offs) +0.8 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of China Renewable Energy Investment Ltd
How large is the market capitalisation of China Renewable Energy Investment Ltd (0987)?
The market capitalisation of China Renewable Energy Investment Ltd is HK$501M (≈ $63.9M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of China Renewable Energy Investment Ltd (0987)?
The price-to-sales ratio of China Renewable Energy Investment Ltd is 2.24 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of China Renewable Energy Investment Ltd (0987)?
The dividend yield of China Renewable Energy Investment Ltd is 2.5%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of China Renewable Energy Investment Ltd (0987)?
The net margin of China Renewable Energy Investment Ltd is 11.3% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of China Renewable Energy Investment Ltd (0987)?
The return on equity (ROE) of China Renewable Energy Investment Ltd is −1.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of China Renewable Energy Investment Ltd (0987)?
On an EBIT basis the return on assets of China Renewable Energy Investment Ltd is 0.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of China Renewable Energy Investment Ltd (0987)?
The operating margin of China Renewable Energy Investment Ltd is −23.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at China Renewable Energy Investment Ltd (0987)?
Revenue at China Renewable Energy Investment Ltd is down 24.9% versus a year earlier (3y avg −4.4%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at China Renewable Energy Investment Ltd (0987)?
Earnings per share at China Renewable Energy Investment Ltd are growing 179% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does China Renewable Energy Investment Ltd (0987) hold?
China Renewable Energy Investment Ltd holds more cash than debt, HK$225M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 12, 2026