<p>中国广核电力（SEHK:1816）刚刚发布了最新的财报，2025 年截至 9 月的九个月内，收入和净利润均较去年下降。这一更新给投资者提供了大量信息需要消化。</p>
<p>请查看我们对中国广核电力的最新分析。</p>
<p>尽管收益有所下降，中国广核电力的股票却显示出稳健的势头。在消息发布后，股价年初至今上涨了 18.32%，一年总股东回报率为 18.42%。长期来看，股东回报更为强劲，五年内总股东回报超过 130%，这表明尽管近期面临挑战，投资者仍然看到长期价值。</p>
<p>如果这种稳定的表现让你考虑其他机会，现在可能是拓宽视野、发现高内部持股的快速成长股票的最佳时机。</p>
<p>尽管收益下降，但股票的长期表现依然稳健，投资者需要考虑中国广核电力目前是否被低估，或者市场是否已经考虑了未来的增长潜力。</p>
<h2>15.9 倍的市盈率：是否合理？</h2>
<p>中国广核电力的市盈率（P/E）为 15.9 倍，低于亚洲可再生能源行业平均的 17.8 倍，但高于同行业平均的 8.5 倍。在最后收盘价为 3.23 港元时，这一定价表明该股票相对于更广泛的行业来说相对合理，但比类似同行更昂贵。</p>
<p>市盈率衡量投资者愿意为中国广核电力每一美元的收益支付多少。在公用事业等资本密集型行业中，这一倍数是市场对未来利润可持续性和增长预期的关键指标。更高的倍数可能反映出对增长前景或资产负债表强度的乐观预期。</p>
<p>尽管公司的市盈率吸引人地低于行业平均水平，但显著高于计算出的合理市盈率 12.3 倍。这可能意味着市场正在为中国广核电力的收益韧性或独特市场地位定价一些溢价。这也表明，如果增长没有显著加速，可能会有有限的上行空间。</p>
<p>亚洲行业的市盈率为 17.8 倍，使得中国广核电力在比较中显得相对便宜。然而，与同行业的 8.5 倍和自身合理市盈率 12.3 倍相比，估值似乎被高估。如果市场转向较低的合理倍数，股价可能会面临压力。</p>
<p>探索中国广核电力的 SWS 合理市盈率</p>
<p><strong>结果：15.9 倍的市盈率（大致合理）</strong></p>
<p>然而，收入增长乏力或净利润低于预期可能迅速逆转近期的势头。这使得在当前水平下，估值风险值得关注。</p>
<p>了解影响中国广核电力叙述的关键风险。</p>
<h2>另一种观点：SWS DCF 模型是否传达了不同的故事？</h2>
<p>虽然市盈率方法表明中国广核电力的估值合理或略显昂贵，但我们的 DCF 模型描绘了更乐观的前景。基于预测的现金流，SWS DCF 模型表明该股票目前的交易价格实际上低于其合理价值约 32%。这是一个相当大的差异。对于今天的买家，哪种方法更具说服力？</p>
<p>深入了解 SWS DCF 模型如何得出其合理价值。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf"/></p>
<p>截至 2025 年 11 月的 1816 折现现金流</p>
<p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看中国广核电力）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 848 只基于现金流的被低估股票。如果您保存了筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
<h2>构建您自己的中国广核电力叙述</h2>
<p>如果您认为故事还有更多内容，或者想自己深入挖掘，您可以在几分钟内轻松构建自己的观点。按照您的方式进行。</p>
<p>您对中国广核电力研究的一个很好的起点是我们的分析，强调了 3 个关键收益和 1 个可能影响您投资决策的重要警示信号。</p>
<h2>寻找更多投资想法？</h2>
<p>聪明的投资者总是关注下一个突破机会。让 Simply Wall Street 的高级筛选器帮助您发现您不想错过的强劲投资。</p>
<ul>
<li>捕捉稳定收入，选择提供吸引收益的公司。尝试这些 17 只收益超过 3% 的分红股票，看看哪些股票正在回报股东。</li>
<li>通过浏览这 25 只 AI 概念股，迈入 AI 革命，抢占在人工智能领域推动边界的公司先机。</li>
<li>通过搜索这些 3597 只财务状况良好、显示出真正潜力和稳健基本面的便宜股票，提前接触明日科技领袖。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>

中广核电力

中国广核

<p>中国广核电力（SEHK:1816）报告称，截至 2025 年 9 月的九个月内，收入和净利润均出现下降。尽管如此，该股票年初至今上涨了 18.32%，过去一年总股东回报率为 18.42%。公司的市盈率为 15.9 倍，低于行业平均的 17.8 倍，但高于同行业平均的 8.5 倍，这表明其可能被高估。现金流折现模型显示，该股票的交易价格可能低于其公允价值 32%，突显出投资者面临的潜在估值风险和机会</p>

<p>CGN Power (SEHK:1816) just reported its latest earnings, with both revenue and net income down for the nine months through September 2025 compared to last year. This update gave investors plenty to digest.</p>
<div class="lb-trans"><p>中国广核电力（SEHK:1816）刚刚发布了最新的财报，2025 年截至 9 月的九个月内，收入和净利润均较去年下降。这一更新给投资者提供了大量信息需要消化。</p>
</div><p>See our latest analysis for CGN Power.</p>
<div class="lb-trans"><p>请查看我们对中国广核电力的最新分析。</p>
</div><p>Despite the dip in earnings, CGN Power’s shares have shown solid momentum. After the news, the share price notched up an 18.32% gain year-to-date and a 1-year total shareholder return of 18.42%. The longer-term story is even stronger, with total shareholder returns of over 130% over five years, indicating that investors continue to see long-term value despite recent challenges.</p>
<div class="lb-trans"><p>尽管收益有所下降，中国广核电力的股票却显示出稳健的势头。在消息发布后，股价年初至今上涨了 18.32%，一年总股东回报率为 18.42%。长期来看，股东回报更为强劲，五年内总股东回报超过 130%，这表明尽管近期面临挑战，投资者仍然看到长期价值。</p>
</div><p>If this steady run has you thinking about other opportunities, it could be the perfect moment to broaden your outlook and discover fast growing stocks with high insider ownership</p>
<div class="lb-trans"><p>如果这种稳定的表现让你考虑其他机会，现在可能是拓宽视野、发现高内部持股的快速成长股票的最佳时机。</p>
</div><p>With earnings down but the stock’s long-term run intact, investors are left to consider whether CGN Power is currently undervalued, or if the market is already factoring in any future growth potential.</p>
<div class="lb-trans"><p>尽管收益下降，但股票的长期表现依然稳健，投资者需要考虑中国广核电力目前是否被低估，或者市场是否已经考虑了未来的增长潜力。</p>
</div><h2>Price-to-Earnings of 15.9x: Is it justified?</h2>
<div class="lb-trans"><h2>15.9 倍的市盈率：是否合理？</h2>
</div><p>CGN Power trades at a Price-to-Earnings (P/E) ratio of 15.9x, which is below the Asian Renewable Energy industry average of 17.8x but above the peer group average of 8.5x. At the last close of HK$3.23, this pricing suggests the stock is relatively well-valued compared with the broader sector, though more expensive than similar peers.</p>
<div class="lb-trans"><p>中国广核电力的市盈率（P/E）为 15.9 倍，低于亚洲可再生能源行业平均的 17.8 倍，但高于同行业平均的 8.5 倍。在最后收盘价为 3.23 港元时，这一定价表明该股票相对于更广泛的行业来说相对合理，但比类似同行更昂贵。</p>
</div><p>The P/E ratio measures how much investors are willing to pay for each dollar of CGN Power's earnings. In capital-intensive industries like utilities, this multiple is a key gauge of market expectations for future profit sustainability and growth. Higher multiples can reflect optimism about growth prospects or balance-sheet strength.</p>
<div class="lb-trans"><p>市盈率衡量投资者愿意为中国广核电力每一美元的收益支付多少。在公用事业等资本密集型行业中，这一倍数是市场对未来利润可持续性和增长预期的关键指标。更高的倍数可能反映出对增长前景或资产负债表强度的乐观预期。</p>
</div><p>While the company's P/E sits attractively below the sector average, it is significantly higher than the calculated fair P/E ratio of 12.3x. This could imply some premium is being priced in by the market, potentially for CGN Power's earnings resilience or unique market position. It also suggests there may be limited upside if growth does not accelerate meaningfully.</p>
<div class="lb-trans"><p>尽管公司的市盈率吸引人地低于行业平均水平，但显著高于计算出的合理市盈率 12.3 倍。这可能意味着市场正在为中国广核电力的收益韧性或独特市场地位定价一些溢价。这也表明，如果增长没有显著加速，可能会有有限的上行空间。</p>
</div><p>The Asian industry commands a P/E of 17.8x, making CGN Power look affordable in comparison. However, versus a peer group at 8.5x and its own fair ratio at 12.3x, the valuation appears stretched. If the market shifts toward the lower fair multiple, there could be pressure on the price.</p>
<div class="lb-trans"><p>亚洲行业的市盈率为 17.8 倍，使得中国广核电力在比较中显得相对便宜。然而，与同行业的 8.5 倍和自身合理市盈率 12.3 倍相比，估值似乎被高估。如果市场转向较低的合理倍数，股价可能会面临压力。</p>
</div><p>Explore the SWS fair ratio for CGN Power</p>
<div class="lb-trans"><p>探索中国广核电力的 SWS 合理市盈率</p>
</div><p><strong>Result: Price-to-Earnings of 15.9x (ABOUT RIGHT)</strong></p>
<div class="lb-trans"><p><strong>结果：15.9 倍的市盈率（大致合理）</strong></p>
</div><p>However, softer revenue growth or weaker-than-expected net income could quickly reverse recent momentum. This makes valuation risks worth watching at current levels.</p>
<div class="lb-trans"><p>然而，收入增长乏力或净利润低于预期可能迅速逆转近期的势头。这使得在当前水平下，估值风险值得关注。</p>
</div><p>Find out about the key risks to this CGN Power narrative.</p>
<div class="lb-trans"><p>了解影响中国广核电力叙述的关键风险。</p>
</div><h2>Another View: Is the SWS DCF Model Telling a Different Story?</h2>
<div class="lb-trans"><h2>另一种观点：SWS DCF 模型是否传达了不同的故事？</h2>
</div><p>While the Price-to-Earnings approach signals CGN Power is fairly valued to slightly expensive, our DCF model paints a more optimistic picture. Based on projected cash flows, the SWS DCF model suggests the stock is actually trading about 32% below its fair value right now. That is a sizable difference. Which method is more convincing for today’s buyers?</p>
<div class="lb-trans"><p>虽然市盈率方法表明中国广核电力的估值合理或略显昂贵，但我们的 DCF 模型描绘了更乐观的前景。基于预测的现金流，SWS DCF 模型表明该股票目前的交易价格实际上低于其合理价值约 32%。这是一个相当大的差异。对于今天的买家，哪种方法更具说服力？</p>
</div><p>Look into how the SWS DCF model arrives at its fair value.</p>
<div class="lb-trans"><p>深入了解 SWS DCF 模型如何得出其合理价值。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf" alt="" original-src="https://images.simplywall.st/company/1ee0ea8d-622f-4f7e-b8b3-dad4d0114071/chart/dcf"/></p>
<p>1816 Discounted Cash Flow as at Nov 2025</p>
<div class="lb-trans"><p>截至 2025 年 11 月的 1816 折现现金流</p>
</div><p>Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out CGN Power for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover 848 undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity.</p>
<div class="lb-trans"><p>Simply Wall St 每天对全球每只股票进行折现现金流（DCF）分析（例如查看中国广核电力）。我们展示了完整的计算过程。您可以在您的观察列表或投资组合中跟踪结果，并在变化时收到提醒，或者使用我们的股票筛选器发现 848 只基于现金流的被低估股票。如果您保存了筛选器，我们甚至会在新公司匹配时提醒您——这样您就不会错过潜在机会。</p>
</div><h2>Build Your Own CGN Power Narrative</h2>
<div class="lb-trans"><h2>构建您自己的中国广核电力叙述</h2>
</div><p>If you think there is more to the story or want to do your own digging, it is easy to build your own take in just a few minutes. Do it your way</p>
<div class="lb-trans"><p>如果您认为故事还有更多内容，或者想自己深入挖掘，您可以在几分钟内轻松构建自己的观点。按照您的方式进行。</p>
</div><p>A great starting point for your CGN Power research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.</p>
<div class="lb-trans"><p>您对中国广核电力研究的一个很好的起点是我们的分析，强调了 3 个关键收益和 1 个可能影响您投资决策的重要警示信号。</p>
</div><h2>Looking for more investment ideas?</h2>
<div class="lb-trans"><h2>寻找更多投资想法？</h2>
</div><p>Smart investors always keep an eye out for that next breakout opportunity. Let Simply Wall Street’s advanced Screener help you spot strong plays you do not want to overlook.</p>
<div class="lb-trans"><p>聪明的投资者总是关注下一个突破机会。让 Simply Wall Street 的高级筛选器帮助您发现您不想错过的强劲投资。</p>
</div><ul>
<li>Capture steady income with companies offering attractive yields. Try your luck with these 17 dividend stocks with yields &gt; 3% and see which stocks are rewarding shareholders right now.</li>
<li>Step into the AI revolution by browsing these 25 AI penny stocks and get a head start on companies pushing boundaries in artificial intelligence.</li>
<li>Access tomorrow’s tech leaders early by searching for market gems among these 3597 penny stocks with strong financials that are showing real potential and solid fundamentals.</li>
</ul>
<div class="lb-trans"><ul>
<li>捕捉稳定收入，选择提供吸引收益的公司。尝试这些 17 只收益超过 3% 的分红股票，看看哪些股票正在回报股东。</li>
<li>通过浏览这 25 只 AI 概念股，迈入 AI 革命，抢占在人工智能领域推动边界的公司先机。</li>
<li>通过搜索这些 3597 只财务状况良好、显示出真正潜力和稳健基本面的便宜股票，提前接触明日科技领袖。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 这并不构成买入或卖出任何股票的推荐，也未考虑您的目标或财务状况。我们的目标是为您提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div>

在收益报告显示收入和利润下降后，中国广核（SEHK:1816）的估值受到关注