---
title: "貴州黔源電力股份有限公司 (002039.SZ)"
type: "quote"
locale: "en"
url: "https://longbridge.com/en/quote/002039.SZ.md"
symbol: "002039.SZ"
name: "貴州黔源電力股份有限公司"
industry: "獨立電力和可再生能源電力生產商"
---

# 貴州黔源電力股份有限公司 (002039.SZ)

| Item | Detail |
|------|--------|
| Industry | 獨立電力和可再生能源電力生產商 |
| Location | 滬深市場 |
| Website | [www.gzqydl.cn](https://www.gzqydl.cn) |

## Company Profile

公司是貴州省唯一的電力上市企業，也是中國華電集團有限公司控股的六家上市公司之一。公司成立于 1993 年 10 月 12 日。2005 年 3 月 3 日作為深交所中小板掛牌上市。公司主營業務：水電發電、光伏發電。主要產品為電力。企業榮譽：獲得國家及省部級管理創新成果獎 3 項，獲得發明專利 5 項、軟件著作權 2 項、實用新型專利 2 項，中電聯技術創新二等獎 1 項、三等獎 1 項等。

## Financial Score

> *Longbridge Financial Score™ — Proprietary multi-factor rating model by [Longbridge](https://longbridge.com). This score is independently calculated by Longbridge and is not affiliated with any third-party rating agency.*
> Updated: 2026-02-20T04:30:09.000Z

**Overall: C (0.40)**

**Industry**: Independent Power and Renewable Electricity Producers

| Metric | Value |
|--------|-------|
| Industry Ranking | 43 / 65 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Blend - Stocks in which the company has both growth and mature businesses.
- **Scale**: Small - The company's operation has a high degree of growth and volatility, making it easy to achieve high investment returns.

### Score Analysis

**Style Score**: 

#### Growth Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | 38.47% |  |
| Net Profit YoY | 75.44% |  |

#### Value Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| P/B Ratio | 1.68 |  |
| Dividend Ratio | 0.94% |  |


**Size Score**: 

#### Market Cap Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 7.28B |  |

#### Revenue Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue | 2.64B |  |


**Multi Score**: C

#### Profit Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 10.72% | B |
| Profit Margin | 16.91% | A |
| Gross Margin | 69.78% | A |

#### Growth Score: A

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | 38.47% | A |
| Net Profit YoY | 75.44% | A |
| Total Assets YoY | -0.08% | D |
| Net Assets YoY | 10.13% | B |

#### Cash Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| Cash Flow Margin | 591.47% | C |
| OCF YoY | 38.47% | A |

#### Operating Score: D

| Indicator | Value | Rating |
|-----------|-------|--------|
| Turnover | 0.17 | D |

#### Debt Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| Gearing Ratio | 51.61% | C |


```chart-data:radar
{
  "title": "Longbridge Financial Score - 貴州黔源電力股份有限公司",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Profit",
      "grade": "B",
      "indicators": [
        {
          "name": "ROE",
          "value": "10.72%",
          "rating": "B"
        },
        {
          "name": "Profit Margin",
          "value": "16.91%",
          "rating": "A"
        },
        {
          "name": "Gross Margin",
          "value": "69.78%",
          "rating": "A"
        }
      ]
    },
    {
      "name": "Growth",
      "grade": "A",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "38.47%",
          "rating": "A"
        },
        {
          "name": "Net Profit YoY",
          "value": "75.44%",
          "rating": "A"
        },
        {
          "name": "Total Assets YoY",
          "value": "-0.08%",
          "rating": "D"
        },
        {
          "name": "Net Assets YoY",
          "value": "10.13%",
          "rating": "B"
        }
      ]
    },
    {
      "name": "Cash",
      "grade": "B",
      "indicators": [
        {
          "name": "Cash Flow Margin",
          "value": "591.47%",
          "rating": "C"
        },
        {
          "name": "OCF YoY",
          "value": "38.47%",
          "rating": "A"
        }
      ]
    },
    {
      "name": "Operating",
      "grade": "D",
      "indicators": [
        {
          "name": "Turnover",
          "value": "0.17",
          "rating": "D"
        }
      ]
    },
    {
      "name": "Security",
      "grade": "C",
      "indicators": [
        {
          "name": "Gearing Ratio",
          "value": "51.61%",
          "rating": "C"
        }
      ]
    }
  ]
}
```

### Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
|------|------|--------|--------|-----------|----------|------|--------|
| 01 | 通寶能源 (SH.600780) | C | C | A | B | B | B |
| 02 | 湖南發展 (SZ.000722) | C | B | E | A | B | B |
| 03 | 閩東電力 (SZ.000993) | B | B | D | B | B | B |
| 04 | 綠能慧充 (SH.600212) | C | A | B | D | A | B |
| 05 | 富春環保 (SZ.002479) | C | C | B | C | A | B |

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 16.33 | 22/65 | 27.82 | 26.22 | 17.46 |
| PB | 1.68 | 45/65 | 1.79 | 1.74 | 1.70 |
| PS (TTM) | 2.76 | 39/65 | 3.56 | 3.28 | 2.95 |
| Dividend Yield | 0.94% | 45/65 | 1.82% | 0.99% | 0.89% |

## Institutional View

### Analyst Rating Distribution

> As of 2025-11-14T16:00:00.000Z

Total Analysts: **2**

| Rating | Count | Percentage |
|--------|-------|-----------|
| Buy | 2 | 100% |
| Overweight | 0 | 0% |
| Hold | 0 | 0% |
| Underweight | 0 | 0% |
| Sell | 0 | 0% |

### Target Price Forecast

| Metric | Price |
|--------|-------|
| Current Price | 17.02 |
| Highest Target | 23.76 |
| Lowest Target | 17.76 |

## References

- [Company Overview](https://longbridge.com/en/quote/002039.SZ/overview.md) - Shareholders, executives, business segments
- [Financials](https://longbridge.com/en/quote/002039.SZ/norm.md) - Income statement, balance sheet, cash flow, distribution plan
- [Topics & Discussions](https://longbridge.com/en/quote/002039.SZ/topics.md) - Community topics and discussions

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
