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CLP Holdings (0002) AI Stock Analysis
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CLP Holdings
(HKEX:0002)
The score is driven primarily by solid financial performance consistent with a regulated utility (recovered profitability and manageable leverage) and a constructive earnings call featuring operating earnings growth, maintained dividends, and strong liquidity/funding progress. These positives are moderated by volatile free cash flow and recent gross margin compression, plus near-term operational headwinds (Australia competition/price pressure and higher China curtailment). Technical signals are mixed-to-neutral, and valuation is supported by the ~4.1% yield but tempered by a ~18.8 P/E.
CLP Holdings (0002) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 24.41B
- Dividend Yield
- 4.13%
- Average Volume (3M)
- 3.36M
- Price to Earnings (P/E)
- 18.0
- Beta (1Y)
- 0.11
- Revenue Growth
- -1.91%
- EPS Growth
- -5.03%
- Country
- Hong Kong
- Employees
- 8,539
- Sector
- Utilities
- Sector Strength
- 66
- Industry
- Regulated Electric
CLP Holdings Business Overview & Revenue Model
Company Description
CLP Holdings Limited operates as an investment holding company primarily focused on the generation, transmission, and supply of electricity. Its widespread operations span Hong Kong, Mainland China, India, Southeast Asia, Taiwan, and Australia. The c...
How the Company Makes Money
CLP Holdings makes money mainly by selling electricity and related utility services, with earnings coming from a mix of regulated utility returns and competitive/contracted power generation revenues. 1) Regulated electricity supply (core profit drive...
CLP Holdings Earnings Call Summary
The call described a generally constructive operational and financial performance driven by a strong Hong Kong regulated business, disciplined capital allocation, portfolio actions (including Jhajjar divestment) and progress on funding and project pipelines. Key metrics (EBITDAF +9%, operating earnings +10%, total earnings +7%, Hong Kong sales +3.6%, data center demand ~+12%) and liquidity/credit strength support a positive view. Offsetting risks include a safety incident, China renewable curtailment and tariff pressure, near-term weakness and competitive pressures in Australia (softer wholesale prices, retail margin pressure), delayed renewable generation in parts of the portfolio, and a negative net cash flow for the half. On balance, highlights (resilient core earnings, funding milestones, project pipeline and cost programs) outweigh the lowlights, though notable near-term market headwinds remain.
Q2-2026 Updates
Positive Updates
Negative Updates
Company Guidance
The call reiterated near‑term guidance and targets across the portfolio, highlighting operating earnings before fair value up 10% to >HKD5.7bn (total earnings nearly HKD6bn) and EBITDAF +9% to HKD13.6bn, with capital investment of HKD7.3bn (HKD5.3bn to Hong Kong SoC, HKD1.6bn to Mainland renewables) against a HKD52.9bn five‑year SoC plan (including HKD2.5bn for initial Northern Metropolis works); interim dividends were maintained at HKD1.26 per share (second interim HKD0.63), cash inflows were HKD8.8bn versus outflows HKD11.8bn (HKD7bn CapEx, HKD4.9bn dividends), liquidity ~HKD20bn and net debt broadly in line with H1 2025 after refinancing ~HKD9bn and an AUD600m facility, plus CLP China’s inaugural RMB1bn Panda Bond. Management said Hong Kong reliability remains exceptional at 99.999% and average net tariff rose ~4%, China curtailment rose to ~15% (from 9% a year ago) but CLP China is targeting ~5GW by 2030 with ~1GW in execution and a HKD100m cost‑saving transformation, Apraava is targeting ~9GW non‑carbon by 2030 with ~HKD4.5bn of post‑period transmission awards and ~3.7m smart meters installed, and Energy Australia expects near‑term pressure on wholesale/retail but is advancing ~1GW of batteries/pump‑hydro (pipeline ~3GW by 2030), with transformation targeting ~HKD250m of enterprise cost savings by 2027; the Jhajjar divestment contributed ~HKD356m of items affecting comparability.
CLP Holdings Financial Statement Overview
Summary
Overall fundamentals fit a stable regulated-utility profile: profitability and ROE recovered meaningfully after 2022 weakness, and leverage is manageable for the sector. Offsetting this, 2025 showed notable gross margin compression and free cash flow has been volatile due to heavy capex cycles, limiting near-term flexibility despite solid operating cash flow.
Income Statement
72PositiveBalance Sheet
74PositiveCash Flow
66Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 88.02B | 88.02B | 90.96B | 87.17B | 100.66B | 83.96B |
| Gross Profit | 6.05B | 13.33B | 29.33B | 28.53B | 18.86B | 26.63B |
| EBITDA | 23.79B | 23.05B | 24.23B | 21.07B | 14.19B | 21.52B |
| Net Income | 11.05B | 10.67B | 11.88B | 6.79B | 1.06B | 8.63B |
Balance Sheet | ||||||
| Total Assets | 245.86B | 238.64B | 233.71B | 229.05B | 236.03B | 239.81B |
| Cash, Cash Equivalents and Short-Term Investments | 6.64B | 3.93B | 4.98B | 5.19B | 4.29B | 8.26B |
| Total Debt | 71.58B | 66.73B | 66.14B | 59.33B | 61.03B | 63.27B |
| Total Liabilities | 129.46B | 125.09B | 123.59B | 116.67B | 124.22B | 116.99B |
| Stockholders Equity | 110.46B | 107.61B | 104.06B | 106.22B | 109.39B | 116.92B |
Cash Flow | ||||||
| Free Cash Flow | 10.33B | 7.62B | 6.84B | 10.39B | -5.03B | 3.02B |
| Operating Cash Flow | 25.01B | 24.38B | 23.14B | 23.57B | 10.19B | 16.30B |
| Investing Cash Flow | -15.29B | -14.33B | -16.22B | -9.47B | -15.38B | -11.79B |
| Financing Cash Flow | -8.94B | -11.22B | -7.04B | -13.14B | -987.00M | -8.48B |
CLP Holdings Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0002, the sentiment is Positive. The current price of 77.40 is above the 20-day moving average (MA) of 76.56, above the 50-day MA of 77.20, and above the 200-day MA of 74.57, indicating a bullish trend. The MACD of -0.12 indicates Negative momentum. The RSI at 53.87 is Neutral, neither overbought nor oversold. The STOCH value of 34.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0002.
CLP Holdings Peers Comparison
Overall Rating
HK:083676Outperform
HK:263872Outperform
HK:000670Outperform- HK:000269Neutral
HK:181662Neutral
HK:000359Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| HK:0836 | 76Outperform | HKD 103.13B | 7.78 | 11.72% | 5.48% | 2.19% | 1.10% |
| HK:2638 | 72Outperform | HKD 54.43B | 17.60 | 6.85% | 5.20% | 3.69% | -0.45% |
| HK:0006 | 70Outperform | HKD 136.18B | 7.61 | 18.47% | 4.41% | -12.24% | 190.79% |
| HK:0002 | 69Neutral | HKD 195.55B | 18.04 | 10.14% | 4.13% | -1.91% | -5.03% |
| Sector * | 66Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% |
| HK:1816 | 62Neutral | HKD 260.38B | 22.40 | 8.63% | 2.87% | -16.31% | 21.48% |
| HK:0003 | 59Neutral | HKD 135.66B | 20.77 | 10.65% | 4.81% | 1.53% | 12.95% |
* Utilities Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:0002 | CLP Holdings | 77.40 | 13.54 | 21.21% | |
| HK:1816 | CGN Power Co Class H | 3.43 | 0.37 | 11.95% | |
| HK:0836 | China Resources Power Holdings Co | 19.92 | 2.03 | 11.32% | |
| HK:0006 | Power Assets Holdings | 63.90 | 16.20 | 33.96% | |
| HK:2638 | HK Electric Investments & HK Electric Investments | 6.16 | 0.40 | 7.02% | |
| HK:0003 | Hong Kong & China Gas Co | 7.27 | 0.40 | 5.76% |
CLP Holdings Corporate Events
CLP Holdings Declares Second Interim Dividend for 2026
CLP Holdings has declared a second interim ordinary dividend of HKD 0.63 per share for the financial year ending 31 December 2026, covering the reporting period up to 30 June 2026. The dividend will be paid in Hong Kong dollars, with shareholders on...
CLP Holdings posts stronger interim earnings and reinforces Hong Kong-Mainland energy role
CLP Holdings reported a resilient first-half 2026 performance, with total earnings rising 6.6% to HK$5,997 million and operating earnings before fair value movements up 9.7% to HK$5,733 million, supported by steady Hong Kong operations, improved port...
CLP Board to Review Interim Results and Second Dividend in August
CLP Holdings has scheduled a board meeting for 6 August 2026 to consider approval of its interim results for the six months ended 30 June 2026. The board will also review the declaration of a second interim dividend for 2026, signaling continued atte...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 06, 2026