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Beijing Energy International Holding (0686) Fair Value & Analysis

Utilities · HK · Market cap HK$1.8B

BE Beijing Energy International Holding 0686 · HK
PriceHK$0.7500
Fair ValueHK$0.9052
Upside+20.7%
Quality44/100
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Expensive Growth
Loss-making · -2.1% net margin
High debt · generates free cash flow
8.89% dividend yield
Ranks above peers (8/13)
Narrow moat 34/100
Evidence: Medium Range HK$0.2556 – HK$0.9052 Share as image

Fair value as of: Aug 13, 2026

From 12 valuation models · updated 2 days ago

Fair value updated Aug 13, 2026, revised from HK$0.9116 to HK$0.9052 (−0.7%) since Aug 2, 2026. Share price −2.6% over the past month.

Below-average quality, screening 21% undervalued on our models.

What matters now

  • The model range is unusually wide (HK$0.2556 to HK$0.9052). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from HK$0.2556 (bear) to HK$0.9052 (bull), base HK$0.9052. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 44/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

HK$2.56 HK$0.7173 Fair Value HK$0.9052 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$0.7173 – HK$2.56 · fair‑value band HK$0.2556 – HK$0.9052 · the HK$0.7500 price screens below the HK$0.9052 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Beijing Energy International Holding (0686) currently trades at HK$0.7500, while our model-based Fair Value estimate is HK$0.9052, implying the stock looks roughly 20.7% undervalued today. The Quality Score stands at 44/100 (below-average quality), in the Utilities sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Beijing Energy International Holding generated revenue of HK$7.7B at a net margin of -2.1%. Revenue declined 2.4% year over year. It earns a return on equity of 0.1%. Net debt stands at HK$75.6B. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.2556 (bear case) to HK$0.9052 (bull case); at HK$0.7500, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -11% fair-value upside, at 21%, 0686 screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely (HK$0.0250 to HK$1.32). Read the values as a conservative anchor, not as a price target.
Model 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. Evidence
Highest evidence
Growth DCF HK$0.0716 HK$0.6155 80
Rev-Margin DCF HK$0.3860 74
ROIC Compounder HK$0.0494 HK$0.2514 HK$0.4521 72
All 12 models by family
DCF Models
FCF DCF HK$0.0261 HK$0.6837 38
5Y Revenue Exit HK$0.2191 39
5Y EBITDA Exit HK$0.2984 HK$1.16 HK$2.85 41
10Y Revenue Exit HK$0.0250 HK$0.2107 36
10Y EBITDA Exit HK$0.1367 HK$1.32 HK$3.44 37
Earnings-Based
EPV HK$0.0494 HK$0.1478 HK$0.2299 59
Multiples
EV/EBIT HK$0.4552 HK$0.8311 HK$1.21 53
EV/EBITDA HK$0.5108 HK$0.9052 HK$1.30 54
Asset-Based
NCAV (Graham) HK$0.0344 HK$0.0463 HK$0.0692 50
Growth DCF
Growth DCF HK$0.0716 HK$0.6155 80
Rev-Margin DCF HK$0.3860 74
Economic Profit
ROIC Compounder HK$0.0494 HK$0.2514 HK$0.4521 72

Widest divergence: Multiples (HK$0.8311) versus DCF Models (HK$0.0261). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) HK$7.7B
Revenue growth (YoY) -2.4%
Net margin -2.1%
Return on equity 0.1%
Free cash flow HK$2.2B FY2025
Operating margin 21.7%
More key figures
EPS (TTM) HK$0.0800
Dividend yield 8.9%
EPS growth (YoY) +433%
Net debt HK$75.6B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 42 · Market factors (momentum, volatility) 27

Profitability 8
Margins and returns on capital today
Quality Growth 58
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 8
Balance sheet, leverage, solvency risk
Investment 33
Disciplined investing over empire-building
Low Volatility 78
Calm price path (market factor)
Momentum 9
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Beijing Energy International Holding Co., Ltd., an investment holding company, engages in the investment, development, operation, and management of power plants and other clean energy projects in the People's Republic of China, Australia, and Vietnam. The company operates through Solar Power Business, Wind Power Business, and Hydro Power Business segments.

Full company description

Beijing Energy International Holding Co., Ltd., an investment holding company, engages in the investment, development, operation, and management of power plants and other clean energy projects in the People's Republic of China, Australia, and Vietnam. The company operates through Solar Power Business, Wind Power Business, and Hydro Power Business segments. It is involved in the design and installation of solar power systems; and research and development of solar power products and solar technology, as well as operates and manages wind, hydro, and solar power plants. The company also holds development rights for hydropower and solar power projects. As of 31 December, 2025, it owned 189 solar power plants, 38 wind power plants, 26 hydro power plants, and 3 energy storage power stations with an aggregate grid-connected installed capacity of approximately 14,185 megawatts. The company was formerly known as Panda Green Energy Group Limited and changed its name to Beijing Energy International Holding Co., Ltd. in September 2020. Beijing Energy International Holding Co., Ltd. was incorporated in 2000 and is headquartered in Central, Hong Kong.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Beijing Energy International Holding reported revenue of HK$7.7B in FY2025 versus HK$2.8B in FY2021, a compound +28.6%/yr. Reported net income was −HK$159M in FY2025.

Growth Quality 61/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
HK$7.7B
Latest YoY
+10.4%
Avg. growth/yr (3Y) 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.
+23.4%
Avg. growth/yr (5Y) 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.
+29.2%
Avg. growth/yr (25Y) 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.
+14.9%
Revenue +28.6%/yr
FY21 HK$2.8B
FY22 HK$4.1B
FY23 HK$5.6B
FY24 HK$7.0B
FY25 HK$7.7B
Net income
FY21 HK$564M
FY22 HK$269M
FY23 HK$42.0M
FY24 HK$86.0M
FY25 −HK$159M

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Cite: Fair Value Calculator (2026). "Beijing Energy International Holding Fair Value". https://www.fairvalue-calculator.com/stock/0686

Peer Group

Utilities - Renewable · 220 stocks

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.

Quality Score 44 · Above median
Fair Value upside +21% · Above median
Return on equity (TTM) 0% · Below median
Return on assets 1% · Below median
Net margin (TTM) -2% · Bottom 25%
Operating margin (TTM) 22% · Above median
Revenue growth -2% · Below median
Dividend yield (TTM) 8.9% · Top 25%
Debt / equity 11.16× · Higher than 75% of peers

Valuation Multiples vs Utilities - Renewable median · lower = cheaper

P/B 0.05× · Cheaper than 75% of peers
P/S (TTM) 0.03× · Cheaper than 75% of peers
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 7.5× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 62 · sector 9
FUTURE 0 · sector 0
PAST 0 · sector 11
HEALTH 0 · sector 68
DIVIDEND 100 · sector 48

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Renewable stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
China Yangtze Power Co 600900 ¥28.02 ¥25.13 -10%
Ørsted A/S ORSTED kr 148.25 kr 31.40 -79%
Huaneng Lancang River Hydropower Inc 600025 ¥9.69 ¥5.57 -43%
Adani Green Energy Limited ADANIGREEN ₹1,319 ₹169.61 -87%
AXIA Energia SA AXIAP $10.74 $9.54 -11%
VERBUND AG OEWA €56.80 €66.19 +17%
BEP BEP $34.23 $70.40 +106%
BEPUN BEPUN C$44.56 C$10.15 -77%
China Longyuan Power Group 001289 ¥15.92 ¥7.55 -53%
SDIC Power Holdings 600886 ¥13.95 ¥16.63 +19%

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Frequently asked questions

Is Beijing Energy International Holding (0686) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.9052 versus a price of HK$0.7500, about +21% (undervalued).
What is the fair value of 0686?
Our model-based fair value for Beijing Energy International Holding is HK$0.9052 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$0.7500.
What is the quality score of 0686?
Beijing Energy International Holding has a Quality Score of 44/100. 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 revenue of Beijing Energy International Holding (0686)?
Beijing Energy International Holding reported trailing-twelve-month revenue of about HK$7.7B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 0686?
The net profit margin of Beijing Energy International Holding is about -2.1%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Beijing Energy International Holding pay a dividend?
Beijing Energy International Holding currently shows a dividend yield of about 8.89% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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