SPIC Hydropower Ratios and Metrics

Market cap in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	May '26 May 6, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Market Capitalization	70,434	57,162	10,143	4,740	4,373	6,668
Market Cap Growth	527.73%	463.57%	114.00%	8.39%	-34.43%	19.78%
Enterprise Value	102,389	58,756	11,391	6,735	6,775	9,081
PE Ratio	88.91	107.40	12.57	87.75	-	120.12
PS Ratio	6.08	4.70	0.70	1.12	1.06	1.50
PB Ratio	3.33	2.77	0.32	0.85	0.79	1.20
P/FCF Ratio	141.52	96.81	30.70	11.85	24.37	19.58
P/OCF Ratio	15.70	11.65	1.78	8.09	14.98	12.34
EV/Sales Ratio	8.84	4.84	0.79	1.58	1.64	2.04
EV/EBITDA Ratio	19.02	10.20	1.48	12.05	13.40	16.20
EV/EBIT Ratio	41.77	22.37	3.15	46.72	73.93	55.60
EV/FCF Ratio	205.72	99.51	34.48	16.83	37.76	26.66
Debt / Equity Ratio	1.39	1.39	1.50	0.30	0.40	0.37
Debt / EBITDA Ratio	4.95	4.95	6.11	2.99	4.29	3.70
Debt / FCF Ratio	48.55	48.55	142.74	4.20	12.16	6.11
Net Debt / Equity Ratio	1.35	1.35	1.45	0.17	0.29	0.29
Net Debt / EBITDA Ratio	4.83	4.83	5.94	1.73	3.13	2.93
Net Debt / FCF Ratio	47.17	47.17	138.31	2.42	8.81	4.82
Quick Ratio	0.46	0.46	0.53	1.14	1.06	1.00
Current Ratio	0.50	0.50	0.58	1.30	1.22	1.23
Asset Turnover	0.16	0.16	0.30	0.42	0.40	0.44
Return on Equity (ROE)	3.98%	3.98%	8.67%	0.82%	-0.71%	1.16%
Return on Assets (ROA)	2.16%	2.16%	4.61%	0.89%	0.55%	1.02%
Return on Capital Employed (ROCE)	6.20%	6.20%	5.50%	2.20%	1.30%	2.30%
Earnings Yield	1.11%	0.93%	7.96%	1.14%	-0.64%	0.83%
FCF Yield	0.71%	1.03%	3.26%	8.44%	4.10%	5.11%
Dividend Yield	0.40%	0.47%	-	0.46%	-	0.25%
Payout Ratio	121.72%	162.36%	179.31%	136.65%	-	-
Buyback Yield / Dilution	1.10%	1.10%	-481.20%	-9.75%	11.35%	9.65%
Total Shareholder Return	1.50%	1.57%	-481.20%	-9.29%	11.35%	9.90%

Source: S&P Global Market Intelligence. Utility template. Financial Sources.