TCL Zhonghuan Renewable Energy Technology Co.,Ltd. (SHE:002129)

China · Delayed Price · Currency is CNY

9.38

+0.18 (1.96%)

Nov 3, 2026, 9:04 AM CST

SHE:002129 Financials Overview

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Revenue	30,993	29,050	28,419	59,146	67,010	41,105
Revenue Growth	13.08%	2.22%	-51.95%	-11.73%	63.02%	115.70%
Gross Profit	-4,780	-4,403	-5,927	9,939	10,716	8,326
Operating Income	-7,553	-7,331	-8,806	6,170	6,319	5,129
Net Income	-8,044	-9,264	-9,818	3,416	6,819	4,030
Earnings Per Share	-1.99	-2.32	-2.46	0.85	1.69	1.05
EPS Growth	-	-	-	-49.74%	60.94%	249.14%

Revenue by Segment

Fiscal Year	FY 2025
Period Ending	Dec '25 Dec 31, 2025
Intersegment Offset	-897.06
Photovoltaic Power Plant	1,303
Semiconductor Materials	5,761
Other	1,127
Photovoltaic Products	21,756
Total	29,050

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Investments	8,545	13,104	15,274	13,967	15,614	12,530
Total Debt	61,108	58,376	57,656	46,096	40,169	22,326
Net Cash (Debt)	-52,563	-45,271	-42,382	-32,128	-24,554	-9,796
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-13.03	-11.33	-10.63	-8.01	-6.10	-2.56

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Operating Cash Flow	954.77	1,144	2,839	5,181	5,057	4,282
Capital Expenditures	-4,877	-5,379	-6,952	-12,163	-11,213	-6,102
Free Cash Flow	-3,922	-4,235	-4,113	-6,982	-6,156	-1,821
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Gross Margin	-15.42%	-15.15%	-20.86%	16.80%	15.99%	20.26%
Operating Margin	-24.37%	-25.24%	-30.99%	10.43%	9.43%	12.48%
Pretax Margin	-30.34%	-35.05%	-38.55%	7.68%	11.12%	12.16%
Profit Margin	-25.95%	-31.89%	-34.55%	5.78%	10.18%	9.80%
FCF Margin	-12.66%	-14.58%	-14.47%	-11.80%	-9.19%	-4.43%

Dividends

Fiscal Year	FY 2023	FY 2022	FY 2021
Period Ending	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Dividend Per Share	0.260	0.080	0.088
Dividend Per Share Growth	225.00%	-9.40%	83.96%
Dividend Yield	1.67%	0.27%	0.26%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 9, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
PE Ratio	-	-	-	18.36	17.75	33.39
Forward PE	-	163.75	163.75	6.51	15.25	34.27
PS Ratio	1.22	1.19	1.26	1.06	1.81	3.27