CHINA RENEWABLE ENERGY INVESTMENT LIMITED

Income Statement China Renewable Energy Investment Limited

Stocks

987 KYG2161D1051

Electric Utilities

Market Closed - Hong Kong S.E. Other stock markets 04:08:41 2026-07-31 EDT			5-day change	1st Jan Change
0.2040 ^HKD	+0.99%		+2.00%	+54.55%

03-30	China Renewable Energy Investment Limited Recommends Special Ordinary Dividend for the Year Ended 31 December 2025, Payable On26 June 2026	CI
03-30	China Renewable Energy Investment Limited Recommends Final Ordinary Dividend for the Year Ended 31 December 2025, Payable on 26 June 2026	CI

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Published financial data: CHINA RENEWABLE ENERGY INVESTMENT LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues - (Utility Template)	250M	197M	181M	163M	172M
Total Revenues	250M	197M	181M	163M	172M
Selling General & Admin Expenses, Total	29.1M	54.2M	37.4M	30.54M	40.12M
Other Operating Expenses	129M	126M	123M	125M	122M
Total Operating Expenses	158M	180M	161M	155M	162M
Operating Income (REIT / Utility Template)	91.94M	16.92M	20.75M	7.58M	9.97M
Interest Expense, Total	-38.15M	-36.17M	-28.08M	-14.6M	-9.12M
Interest and Investment Income	1.3M	1.79M	3.92M	2.96M	7.44M
Net Interest Expenses	-36.85M	-34.38M	-24.16M	-11.64M	-1.68M
Income (Loss) on Equity Invest.	75.74M	54.5M	57.1M	22.16M	25.52M
Currency Exchange Gains (Loss)	8.32M	-	-	-	-
EBT, Excl. Unusual Items	139M	37.04M	53.69M	18.1M	33.81M
Gain (Loss) on Sale of Investments	-	-	-10.05M	-	-
Gain (Loss) on Sale of Assets	91K	103K	-	14K	-
Asset Writedown	-13.62M	-	-20.57M	-	-3.89M
EBT, Incl. Unusual Items	126M	37.14M	23.07M	18.11M	29.91M
Income Tax Expense	13.82M	7.32M	4.28M	3.7M	14.12M
Earnings From Continuing Operations	112M	29.82M	18.79M	14.41M	15.79M
Net Income to Company	112M	29.82M	18.79M	14.41M	15.79M
Minority Interest	1.55M	1.29M	4.49M	2.07M	3.7M
Net Income - (IS)	113M	31.11M	23.28M	16.48M	19.49M
Net Income to Common Incl Extra Items	113M	31.11M	23.28M	16.48M	19.49M
Net Income to Common Excl. Extra Items	113M	31.11M	23.28M	16.48M	19.49M
Per Share Items
Net EPS - Basic	0.05	0.01	0.01	0.01	0.01
Basic EPS - Continuing Operations	0.05	0.01	0.01	0.01	0.01
Basic Weighted Average Shares Outstanding	2.51B	2.51B	2.51B	2.51B	2.51B
Net EPS - Diluted	0.05	0.01	0.01	0.01	0.01
Diluted EPS - Continuing Operations	0.05	0.01	0.01	0.01	0.01
Diluted Weighted Average Shares Outstanding	2.51B	2.51B	2.51B	2.51B	2.51B
Normalized Basic EPS	0.04	0.01	0.02	0.01	0.01
Normalized Diluted EPS	0.04	0.01	0.02	0.01	0.01
Dividend Per Share	0.01	0	0	0	0
Payout Ratio	19.9	40.28	53.82	76.06	64.29
Supplemental Items
Utility Revenues	250M	197M	181M	163M	172M
EBITDA	200M	121M	122M	105M	107M
EBITA	92.33M	17.3M	21.11M	7.93M	10.32M
EBIT	91.94M	16.92M	20.75M	7.58M	9.97M
EBITDAR	200M	123M	124M	107M	110M
Effective Tax Rate - (Ratio)	11	19.72	18.54	20.45	47.22
Current Domestic Taxes	11.75M	8.94M	2.97M	7.66M	18.53M
Total Current Taxes	11.75M	8.94M	2.97M	7.66M	18.53M
Deferred Domestic Taxes	2.08M	-1.62M	1.3M	-3.96M	-4.4M
Total Deferred Taxes	2.08M	-1.62M	1.3M	-3.96M	-4.4M
Normalized Net Income	88.52M	24.44M	38.05M	13.38M	24.83M
Interest Capitalized	-	-	-	-	-
Interest on Long-Term Debt	31.94M	28.19M	20.02M	14.6M	9.12M
Supplemental Operating Expense Items
General and Administrative Expenses	29.1M	54.2M	37.4M	30.54M	40.12M
Net Rental Expense, Total	317K	1.74M	1.96M	2.09M	2.1M
Imputed Operating Lease Interest Expense	119K	740K	981K	948K	711K
Imputed Operating Lease Depreciation	198K	1M	976K	1.14M	1.39M
Maintenance & Repair Expenses, Total	3.27M	4.47M	5.96M	6.8M	6.58M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	197M	232M	164M	232M	429M
Short Term Investments - (Utility / Insurance Templates)	-	-	-	-	-
Accounts Receivable, Total	324M	301M	290M	322M	272M
Accounts Receivable (Summary Subtotal)	324M	301M	290M	322M	272M
Inventory - (Utility Template)	10.73M	10.36M	11.54M	9.13M	8.18M
Prepaid Expenses	183M	173M	55.77M	32.98M	12.33M
Restricted Cash	-	-	-	-	-
Total Current Assets	714M	716M	521M	597M	721M
Gross Property Plant And Equipment	2.07B	1.91B	1.84B	1.78B	1.86B
Accumulated Depreciation	-856M	-890M	-950M	-1.01B	-1.16B
Net Property Plant And Equipment	1.21B	1.02B	887M	766M	703M
Other Intangibles, Total	3.58M	2.32M	1.37M	720K	291K
Long-Term Investments - (Utility Template)	942M	854M	824M	759M	750M
Other Long-Term Assets, Total	40.01M	25.99M	17.26M	8.6M	-
Total Assets	2.91B	2.62B	2.25B	2.13B	2.18B
Liabilities
Accounts Payable, Total	938K	463K	506K	481K	493K
Short-Term Borrowings	166M	168M	-	-	-
Current Portion of Long-Term Debt	168M	145M	43.34M	32.37M	34.07M
Current Portion of Leases	-	-	-	-	-
Current Income Taxes Payable	2.09M	1.65M	1.72M	2.8M	3.65M
Other Current Liabilities - (Bank / Utility Template)	70.34M	61.04M	54.54M	50.79M	43.8M
Total Current Liabilities	408M	376M	100M	86.44M	82.02M
Long-Term Debt	420M	296M	244M	195M	171M
Long-Term Leases	-	-	-	-	-
Deferred Tax Liability Non-Current	36.9M	32.3M	32.67M	27.84M	25.42M
Total Liabilities	865M	704M	377M	310M	278M
Common Stock, Total	25.06M	25.06M	25.06M	25.06M	25.06M
Additional Paid In Capital	926M	926M	926M	926M	926M
Retained Earnings	997M	1.02B	1.03B	1.03B	1.04B
Comprehensive Income and Other	102M	-48.12M	-95.2M	-150M	-77.19M
Total Common Equity	2.05B	1.92B	1.88B	1.83B	1.91B
Minority Interest	-2.48M	-3.72M	-8.14M	-10.05M	-14.1M
Total Equity	2.05B	1.91B	1.87B	1.82B	1.9B
Total Liabilities And Equity	2.91B	2.62B	2.25B	2.13B	2.18B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.51B	2.51B	2.51B	2.51B	2.51B
ECS Total Common Shares Outstanding	2.51B	2.51B	2.51B	2.51B	2.51B
Book Value / Share	0.82	0.77	0.75	0.73	0.76
Tangible Book Value	2.05B	1.92B	1.88B	1.83B	1.91B
Tangible Book Value Per Share	0.82	0.76	0.75	0.73	0.76
Total Debt	754M	609M	288M	228M	205M
Net Debt	557M	376M	124M	-4.54M	-225M
Debt Equivalent Oper. Leases	2.54M	13.94M	15.66M	16.74M	16.84M
Minority Interest, Total (Incl. Fin. Div)	-2.48M	-3.72M	-8.14M	-10.05M	-14.1M
Equity Method Investments, Total	942M	854M	824M	759M	750M
Account Code - Inventory Valuation	5	5	5	3	3
Machinery, Total	2.06B	1.9B	1.82B	1.77B	1.85B
Full Time Employees	94	95	94	93	92

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	113M	31.11M	23.28M	16.48M	19.49M
Depreciation, Depletion & Amortization	110M	105M	103M	98.73M	98.55M
Amortization of Goodwill and Intangible Assets - (CF)	385K	373K	354K	347K	346K
Total Depreciation, Depletion & Amortization	110M	106M	103M	99.08M	98.89M
Amortization of Deferred Charges, Total	470K	660K	331K	309K	88K
(Gain) Loss On Sale of Asset - (CF)	-148K	-103K	59K	-14K	1.56M
(Gain) Loss on Sale of Investments - (CF)	-	-	10.05M	-	-
Total Asset Writedown	13.62M	-	20.57M	-	3.89M
(Income) Loss On Equity Investments - (CF)	-75.74M	-54.5M	-57.1M	-22.16M	-25.52M
Change in Accounts Receivable	-94.24M	32.29M	14.02M	-39.17M	73.83M
Change In Inventories	2.52M	-465K	-1.48M	2.05M	1.39M
Change in Accounts Payable	-1.66M	7.76M	1.42M	5.43M	-12.06M
Other Operating Activities	44.49M	32.91M	18.12M	9.7M	-211K
Cash from Operations	113M	155M	132M	71.69M	161M
Capital Expenditure	-16.72M	-8.24M	-16.58M	-6.52M	-4.67M
Sale of Property, Plant, and Equipment	1.96M	197K	784K	14K	424K
Purchase / Sale of Intangible Assets	-989K	-31K	-59K	-53K	-
Investment in Marketable and Equity Securities, Total	-	-	-	-	-
Other Investing Activities, Total	112M	62.27M	173M	87.38M	92.37M
Cash from Investing	95.92M	54.19M	157M	80.82M	88.12M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	-	25M	-	-	-
Total Debt Issued	-	25M	-	-	-
Short Term Debt Repaid, Total	-30M	-	-165M	-	-
Long-Term Debt Repaid, Total	-101M	-143M	-145M	-53.86M	-35.25M
Total Debt Repaid	-131M	-143M	-310M	-53.86M	-35.25M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-22.56M	-12.53M	-12.53M	-12.53M	-12.53M
Common & Preferred Stock Dividends Paid	-22.56M	-12.53M	-12.53M	-12.53M	-12.53M
Other Financing Activities, Total	-38.68M	-34.71M	-30.87M	-14.65M	-9.12M
Cash from Financing	-192M	-165M	-353M	-81.04M	-56.9M
Foreign Exchange Rate Adjustments	-9.85M	-9.5M	-4.12M	-3.58M	4.52M
Net Change in Cash	6.78M	35.23M	-68.12M	67.88M	197M
Supplemental Items
Cash Interest Paid	38.68M	34.71M	30.87M	14.65M	9.12M
Cash Income Tax Paid (Refund)	4.64M	7.5M	5.83M	3.58M	12.32M
Net Debt Issued / Repaid	-131M	-118M	-310M	-53.86M	-35.25M
Levered Free Cash Flow	46.16M	109M	203M	78.17M	161M
Unlevered Free Cash Flow	70M	132M	220M	87.3M	167M
Change In Net Working Capital	80.52M	-22.8M	-121M	10.25M	-66.11M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.98	0.38	0.53	0.22	0.29
Return on Total Capital	2.06	0.4	0.55	0.23	0.3
Return On Equity %	5.64	1.5	0.99	0.78	0.85
Return on Common Equity	5.72	1.57	1.23	0.89	1.04
Margin Analysis
Gross Profit Margin %	44.79	32.79	28.76	20.2	26.58
SG&A Margin	11.63	27.48	20.63	18.73	23.29
EBITDA Margin %	79.74	61.51	67.43	64.54	62.38
EBITA Margin %	36.89	8.77	11.64	4.86	5.99
EBIT Margin %	36.74	8.58	11.44	4.65	5.79
Income From Continuing Operations Margin %	44.67	15.12	10.36	8.84	9.17
Net Income Margin %	45.3	15.78	12.84	10.1	11.32
Net Avail. For Common Margin %	45.3	15.78	12.84	10.1	11.32
Normalized Net Income Margin	35.37	12.4	20.98	8.2	14.42
Levered Free Cash Flow Margin	18.44	55.24	111.77	47.94	93.46
Unlevered Free Cash Flow Margin	27.97	66.71	121.45	53.54	96.77
Asset Turnover
Asset Turnover	0.09	0.07	0.07	0.07	0.08
Fixed Assets Turnover	0.2	0.18	0.19	0.2	0.23
Receivables Turnover (Average Receivables)	0.92	0.63	0.61	0.53	0.58
Inventory Turnover (Average Inventory)	11.69	12.57	11.8	12.59	14.61
Short Term Liquidity
Current Ratio	1.75	1.91	5.21	6.9	8.8
Quick Ratio	1.28	1.42	4.53	6.42	8.55
Operating Cash Flow to Current Liabilities	0.28	0.41	1.32	0.83	1.97
Days Sales Outstanding (Average Receivables)	397.12	577.69	593.95	686.71	629.5
Days Outstanding Inventory (Average Inventory)	31.21	29.03	30.93	29.07	24.99
Average Days Payable Outstanding	1.67	1.93	1.36	1.41	1.42
Cash Conversion Cycle (Average Days)	426.66	604.79	623.52	714.37	653.07
Long Term Solvency
Total Debt/Equity	36.84	31.8	15.36	12.5	10.79
Total Debt / Total Capital	26.92	24.12	13.31	11.11	9.74
LT Debt/Equity	20.49	15.47	13.04	10.72	9
Long-Term Debt / Total Capital	14.97	11.74	11.31	9.53	8.12
Total Liabilities / Total Assets	29.69	26.89	16.76	14.52	12.79
EBIT / Interest Expense	2.41	0.47	0.74	0.52	1.09
EBITDA / Interest Expense	5.3	3.39	4.4	7.31	11.93
(EBITDA - Capex) / Interest Expense	4.86	3.16	3.81	6.86	11.42
Total Debt / EBITDA	3.73	4.96	2.33	2.13	1.88
Net Debt / EBITDA	2.76	3.07	1	-0.04	-2.06
Total Debt / (EBITDA - Capex)	4.07	5.32	2.69	2.27	1.96
Net Debt / (EBITDA - Capex)	3	3.29	1.15	-0.05	-2.16
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	21.41	-21.21	-8.04	-10.08	5.61
Gross Profit, 1 Yr. Growth %	45.34	-42.31	-19.36	-36.82	38.96
EBITDA, 1 Yr. Growth %	23.22	-39.21	0.81	-13.94	2.08
EBITA, 1 Yr. Growth %	38.85	-81.27	22.02	-62.42	30.11
EBIT, 1 Yr. Growth %	39.02	-81.59	22.62	-63.45	31.5
Earnings From Cont. Operations, 1 Yr. Growth %	29.9	-73.33	-36.99	-23.32	9.58
Net Income, 1 Yr. Growth %	31.57	-72.55	-25.17	-29.23	18.31
Diluted EPS Before Extra, 1 Yr. Growth %	31.57	-72.56	-25.17	-29.24	18.32
Normalized Net Income, 1 Yr. Growth %	40.7	-72.39	55.66	-64.84	85.61
Net Property, Plant and Equip., 1 Yr. Growth %	-6.8	-15.9	-13.01	-13.69	-8.21
Inventory, 1 Yr. Growth %	-16.86	-3.44	11.43	-20.88	-10.4
Accounts Receivable, 1 Yr. Growth %	46.43	-7.1	-3.67	11.31	-15.71
Total Assets, 1 Yr. Growth %	0.28	-10.08	-14.04	-5.34	2.06
Tangible Book Value, 1 Yr. Growth %	7.11	-6.38	-1.85	-2.65	4.36
Cash From Operations, 1 Yr. Growth %	19.36	37.63	-14.96	-45.77	125.07
Capital Expenditures, 1 Yr. Growth %	-90.05	-50.73	101.2	-60.65	-28.36
Levered Free Cash Flow, 1 Yr. Growth %	-116.49	136	86.07	-61.43	105.89
Unlevered Free Cash Flow, 1 Yr. Growth %	-127.47	87.91	67.43	-60.36	90.9
Dividend Per Share, 1 Yr. Growth %	25	-50	0	0	0
Common Equity, 1 Yr. Growth %	7.1	-6.43	-1.89	-2.68	4.34
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	17.51	-2.19	-14.88	-9.06	-2.55
Gross Profit, 2 Yr. CAGR %	27.87	-8.44	-31.8	-28.62	-6.3
EBITDA, 2 Yr. CAGR %	22.71	-13.45	-21.72	-6.85	-6.27
EBITA, 2 Yr. CAGR %	40.51	-49	-52.19	-32.29	-30.08
EBIT, 2 Yr. CAGR %	40.77	-49.41	-52.49	-33.06	-30.68
Earnings From Cont. Operations, 2 Yr. CAGR %	39.02	-41.14	-59	-30.49	-8.33
Net Income, 2 Yr. CAGR %	40.56	-39.91	-54.68	-27.23	-8.5
Diluted EPS Before Extra, 2 Yr. CAGR %	40.56	-39.91	-54.68	-27.23	-8.5
Normalized Net Income, 2 Yr. CAGR %	42.61	-37.67	-34.44	-26.02	-19.21
Net Property, Plant and Equip., 2 Yr. CAGR %	-1.57	-11.47	-14.47	-13.35	-10.99
Inventory, 2 Yr. CAGR %	27.27	-10.4	3.73	-6.11	-15.81
Accounts Receivable, 2 Yr. CAGR %	61.11	16.63	-5.4	3.55	-3.14
Total Assets, 2 Yr. CAGR %	2.09	-5.04	-12.08	-9.79	-1.71
Common Equity, 2 Yr. CAGR %	8.85	0.11	-4.19	-2.29	0.77
Tangible Book Value, 2 Yr. CAGR %	8.88	0.14	-4.14	-2.25	0.79
Cash From Operations, 2 Yr. CAGR %	12.3	28.17	8.19	-32.09	10.48
Capital Expenditures, 2 Yr. CAGR %	-62.66	-77.86	-0.43	-11.02	-46.9
Levered Free Cash Flow, 2 Yr. CAGR %	168.75	-37.62	109.55	-15.29	-10.89
Unlevered Free Cash Flow, 2 Yr. CAGR %	154.62	-28.15	77.37	-18.54	-13.01
Dividend Per Share, 2 Yr. CAGR %	11.8	-20.94	-29.29	0	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	18.74	2.85	-4.18	-13.31	-4.41
Gross Profit, 3 Yr. CAGR %	29.3	-1.93	-12.23	-33.51	-10.87
EBITDA, 3 Yr. CAGR %	24.24	-2.91	-8.94	-19.21	-3.97
EBITA, 3 Yr. CAGR %	46.86	-28.22	-31.79	-55.88	-15.82
EBIT, 3 Yr. CAGR %	47.3	-28.55	-32.05	-56.47	-16.16
Earnings From Cont. Operations, 3 Yr. CAGR %	21.1	-19.82	-39.79	-49.49	-19.1
Net Income, 3 Yr. CAGR %	22.11	-18.46	-35.35	-47.42	-14.43
Diluted EPS Before Extra, 3 Yr. CAGR %	21.21	-18.46	-35.35	-47.43	-14.43
Normalized Net Income, 3 Yr. CAGR %	25.8	-17.5	-15.44	-46.73	0.53
Net Property, Plant and Equip., 3 Yr. CAGR %	1.89	-6.6	-11.99	-14.21	-11.67
Inventory, 3 Yr. CAGR %	16.82	16.08	-3.65	-5.23	-7.56
Accounts Receivable, 3 Yr. CAGR %	74.17	34.1	9.43	-0.13	-3.31
Total Assets, 3 Yr. CAGR %	4.87	-2.14	-8.14	-9.89	-6
Common Equity, 3 Yr. CAGR %	5.85	3.5	-0.56	-3.69	-0.13
Tangible Book Value, 3 Yr. CAGR %	5.89	3.53	-0.53	-3.64	-0.09
Cash From Operations, 3 Yr. CAGR %	30.22	20.18	11.79	-14.06	1.25
Capital Expenditures, 3 Yr. CAGR %	-55.99	-59.05	-53.79	-26.93	-17.22
Levered Free Cash Flow, 3 Yr. CAGR %	-37.67	157.36	-10.2	19.2	13.9
Unlevered Free Cash Flow, 3 Yr. CAGR %	-25.99	130.1	-4.74	7.64	8.21
Dividend Per Share, 3 Yr. CAGR %	7.72	-14.5	-14.5	-20.63	0
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	13.82	8.47	3.94	-2.09	-3.53
Gross Profit, 5 Yr. CAGR %	20.65	7.2	0.11	-13.63	-9.91
EBITDA, 5 Yr. CAGR %	16.29	3.31	3.28	-4.51	-7.88
EBITA, 5 Yr. CAGR %	33.88	-12.12	-6.25	-29.87	-31.11
EBIT, 5 Yr. CAGR %	34.24	-12.31	-6.32	-30.39	-31.5
Earnings From Cont. Operations, 5 Yr. CAGR %	13.97	-13.32	-21.48	-24.27	-28.76
Net Income, 5 Yr. CAGR %	13.16	-12.41	-17.86	-22.09	-25.71
Diluted EPS Before Extra, 5 Yr. CAGR %	11.8	-13.34	-18.22	-22.09	-25.71
Normalized Net Income, 5 Yr. CAGR %	15.29	-10.81	-3.07	-21.02	-16.97
Net Property, Plant and Equip., 5 Yr. CAGR %	5.72	1.48	-5	-9.36	-11.59
Inventory, 5 Yr. CAGR %	12.55	2.73	11.4	6.64	-8.71
Accounts Receivable, 5 Yr. CAGR %	43.51	77.26	36.44	20.92	4.22
Total Assets, 5 Yr. CAGR %	6.47	1.02	-2.27	-5.28	-5.62
Common Equity, 5 Yr. CAGR %	5.53	1.91	1.72	1.14	-0.03
Tangible Book Value, 5 Yr. CAGR %	5.55	1.95	1.76	1.18	-0
Cash From Operations, 5 Yr. CAGR %	7.1	0.32	20.91	-4.35	11.27
Capital Expenditures, 5 Yr. CAGR %	10.03	-30.8	-38.99	-44.14	-51.15
Levered Free Cash Flow, 5 Yr. CAGR %	-0.19	19.77	1.24	65.01	-10.48
Unlevered Free Cash Flow, 5 Yr. CAGR %	1.03	40.65	4.99	51.89	-8.14
Dividend Per Share, 5 Yr. CAGR %	37.97	-6.51	-8.97	-8.97	-8.97