NYOCOR Co., Ltd. (600821.SS) Bundle
If you're tracking energy-sector investments, NYOCOR Co., Ltd. (600821.SS) warrants a closer look: the company posted quarterly revenue of 1.07 billion CNY (Q2 2025) and a TTM revenue of 3.65 billion CNY, while net income jumped to 319.07 million CNY in June 2025 with an impressive net profit margin of 29.85%, yet the balance sheet shows leverage with a debt-to-equity ratio of 3.02 and total liabilities climbing 23.08% year-over-year as market capitalization sits at 11.21 billion CNY and enterprise value at 38.51 billion CNY - juxtaposing strong cash-flow improvements (free cash flow up 122.65% to 36.00 million CNY and cash up 4.38% to 711.79 million CNY) and growth plans (nearly 4 billion CNY targeted for six photovoltaic projects and a total installed capacity of 5.554 million kW, +24% YoY) against margin pressure, falling on-grid prices for wind and solar, and strategic pivots into AI computing power and heavy industries that could reshape the company's risk-reward profile - read on to unpack revenue trends, profitability metrics, debt dynamics, liquidity, valuation, risks, and the concrete catalysts that could drive NYOCOR's next chapter.
NYOCOR Co., Ltd. (600821.SS) Revenue Analysis
In the quarter ending June 30, 2025, NYOCOR Co., Ltd. reported revenue of 1.07 billion CNY, a 2.76% year-over-year increase. Trailing twelve months (TTM) revenue is 3.65 billion CNY, up 4.23% versus the prior period. For full-year 2024 the company recorded 3.61 billion CNY in revenue, an 8.55% increase from 2023.- Q2 2025 revenue: 1.07 billion CNY (YoY +2.76%)
- TTM revenue: 3.65 billion CNY (growth +4.23% vs. prior TTM)
- FY 2024 revenue: 3.61 billion CNY (2024 vs. 2023: +8.55%)
- Revenue per employee: ~6.49 million CNY (563 employees)
| Metric | Value | Notes |
|---|---|---|
| Q2 2025 Revenue | 1.07 billion CNY | Quarter ending 2025-06-30; YoY +2.76% |
| TTM Revenue | 3.65 billion CNY | TTM growth +4.23% |
| FY 2024 Revenue | 3.61 billion CNY | 2024 vs. 2023: +8.55% |
| Employees | 563 | Headcount for revenue/employee |
| Revenue per Employee | 6.49 million CNY | TTM revenue ÷ employees |
| Market Capitalization | 11.21 billion CNY | Market value as of 2025-10-23 |
| Price-to-Sales (P/S) | 3.07 | Market cap ÷ TTM revenue |
| Share Price | 5.73 CNY | As of 2025-10-23 |
- Valuation context: P/S of 3.07 implies investors pay ~3.07 CNY of market value per 1 CNY of sales.
- Operational productivity: revenue/employee (~6.49M CNY) indicates high per-capita sales for the workforce size.
- Recent growth: modest sequential and annual gains (Q2 YoY +2.76%, TTM +4.23%, FY2024 +8.55%) suggest steady but slowing expansion relative to 2024.
NYOCOR Co., Ltd. (600821.SS) - Profitability Metrics
Key profitability indicators for NYOCOR Co., Ltd. (600821.SS) show improved margins and steady EBITDA growth as of June 2025, underscoring operational leverage and tax efficiency.
- Net income (June 2025): 319.07 million CNY (YoY +18.53%)
- Net profit margin: 29.85% (up 15.34 percentage points YoY)
- EBITDA: 902.23 million CNY (YoY +5.51%)
- Effective tax rate: 14.68%
- Return on assets (ROA): 3.53%
- Return on capital: 3.89%
- Earnings per share (EPS): 0.32 CNY; Price-to-earnings (P/E): 16.59
| Metric | Value | Year-over-Year Change / Note |
|---|---|---|
| Net Income (June 2025) | 319.07 million CNY | +18.53% YoY |
| Net Profit Margin | 29.85% | +15.34 percentage points YoY |
| EBITDA | 902.23 million CNY | +5.51% YoY |
| Effective Tax Rate | 14.68% | Indicates tax efficiency |
| Return on Assets (ROA) | 3.53% | Profitability from asset base |
| Return on Capital | 3.89% | Profitability from invested capital |
| Earnings per Share (EPS) | 0.32 CNY | Basic EPS |
| Price-to-Earnings (P/E) Ratio | 16.59 | Market valuation multiple |
- Margin expansion (net profit margin +15.34 pp) suggests improved pricing, cost control, or product mix shift driving higher profitability per unit of revenue.
- EBITDA growth of 5.51% vs. net income growth of 18.53% implies non-operating items, taxes, or financing effects contributed to stronger bottom-line improvement.
- Effective tax rate at 14.68% supports net margin resilience and indicates favorable tax planning or jurisdictional benefits.
- ROA and return on capital in the mid-single digits reflect modest asset and capital efficiency; investors should compare these to peer group and industry averages for context.
- EPS of 0.32 CNY with a P/E of 16.59 signals a moderate market valuation - not deeply discounted nor richly priced given current earnings.
For context on corporate structure and strategic positioning that may influence profitability, see: NYOCOR Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
NYOCOR Co., Ltd. (600821.SS) - Debt vs. Equity Structure
NYOCOR Co., Ltd. shows a capital structure skewed toward liabilities as of June 2025. Key headline figures highlight the balance-sheet composition and market context:- Total assets: 41.19 billion CNY
- Total liabilities: 30.94 billion CNY (up 23.08% YoY)
- Total equity: 10.25 billion CNY
- Debt-to-equity ratio: ~3.02
- Market capitalization (Oct 23, 2025): 11.21 billion CNY; share price: 5.73 CNY
- Enterprise value: 38.51 billion CNY
| Metric | Value (CNY) | Notes |
|---|---|---|
| Total Assets | 41.19 billion | As of June 2025 |
| Total Liabilities | 30.94 billion | +23.08% YoY |
| Total Equity | 10.25 billion | Book equity base |
| Debt-to-Equity Ratio | 3.02 | Indicates higher leverage |
| Market Capitalization | 11.21 billion | Share price 5.73 CNY (Oct 23, 2025) |
| Enterprise Value | 38.51 billion | Market value + net debt |
NYOCOR Co., Ltd. (600821.SS) - Liquidity and Solvency
Key liquidity and solvency metrics for NYOCOR Co., Ltd. highlight a company with growing cash resources and improving cash generation, alongside a notable rise in liabilities that investors should monitor.
- Cash and short-term investments: 711.79 million CNY (+4.38% YoY)
- Net change in cash (June 2025): 94.37 million CNY (+147.28% YoY)
- Free cash flow: 36.00 million CNY (+122.65% YoY)
- Effective tax rate: 14.68%
- Return on assets (ROA): 3.53%
- Return on capital: 3.89%
- Total liabilities change: +23.08% YoY
| Metric | Value | YoY Change | Comment |
|---|---|---|---|
| Cash & Short-term Investments | 711.79 million CNY | +4.38% | Solid short-term liquidity buffer |
| Net Change in Cash (Jun 2025) | 94.37 million CNY | +147.28% | Significant sequential cash inflow improvement |
| Free Cash Flow | 36.00 million CNY | +122.65% | Improved operational cash conversion |
| Effective Tax Rate | 14.68% | - | Relatively low tax burden supports net results |
| Return on Assets (ROA) | 3.53% | - | Moderate asset efficiency |
| Return on Capital | 3.89% | - | Modest returns on invested capital |
| Total Liabilities | Increased (YoY) | +23.08% | Rising leverage that warrants monitoring |
Investor implications:
- Improved cash generation and free cash flow provide flexibility for operations and strategic initiatives.
- Low effective tax rate (14.68%) enhances after-tax profitability and cash retention.
- ROA (3.53%) and return on capital (3.89%) indicate modest returns-efficiency gains could materially improve profitability.
- The 23.08% YoY increase in total liabilities signals rising leverage risk; assess debt composition, maturities, and coverage ratios before concluding on balance-sheet strength.
For broader context on corporate direction, see Mission Statement, Vision, & Core Values (2026) of NYOCOR Co., Ltd.
NYOCOR Co., Ltd. (600821.SS) - Valuation Analysis
Key valuation metrics for NYOCOR Co., Ltd. as of October 23, 2025 provide a snapshot of how the market prices the business relative to earnings, sales and its capital structure. Investors should weigh these metrics against sector peers and historical trends to assess relative attractiveness.
- Share price: 5.73 CNY (Oct 23, 2025)
- Market capitalization: 11.21 billion CNY
- Enterprise value (EV): 38.51 billion CNY
- P/E ratio: 16.59 - denotes a moderate earnings multiple
- P/S ratio: 3.07 - indicates valuation relative to revenue
| Metric | Value | Notes |
|---|---|---|
| Share price | 5.73 CNY | Market close, 2025-10-23 |
| Market cap | 11.21 billion CNY | Outstanding shares × price |
| Enterprise value | 38.51 billion CNY | Includes debt and minority interest |
| Price-to-Earnings (P/E) | 16.59 | Moderate valuation relative to earnings |
| Price-to-Sales (P/S) | 3.07 | Market values ~3.07× annual sales |
| Total assets | 41.19 billion CNY | Balance sheet total |
| Total liabilities | 30.94 billion CNY | Increased 23.08% YoY |
The gap between enterprise value (38.51 bn CNY) and market cap (11.21 bn CNY) largely reflects NYOCOR's leverage. Rising liabilities (up 23.08% year-over-year) have expanded the EV relative to equity capitalization and signal an increasing debt profile that investors must consider when interpreting P/E and P/S multiples.
- Balance-sheet context: total assets 41.19 bn CNY vs. total liabilities 30.94 bn CNY - equity cushion is present but leverage is significant.
- Valuation implication: P/E 16.59 suggests earnings-based valuation is not extreme, while P/S 3.07 implies the market pays a premium to revenue; combined with high EV, this points to investor recognition of operating value offset by debt risk.
- Comparative focus: compare these multiples and leverage ratios to industry peers to determine whether NYOCOR's price reflects growth prospects or balance-sheet risk.
For background on the company's history, ownership and business model, see: NYOCOR Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
NYOCOR Co., Ltd. (600821.SS) - Risk Factors
NYOCOR Co., Ltd. (600821.SS) faces a mix of financial and operational risks that investors should weigh carefully. Key quantitative indicators point to rising leverage, margin pressure, and revenue headwinds from lower renewable power tariffs, while strategic pivots into AI computing services and energy-intensive industrial sectors create execution and capital-allocation risks.
- High leverage: debt-to-equity ratio ≈ 3.02, signaling material reliance on debt financing and greater sensitivity to interest-cost fluctuations.
- Rising liabilities: total liabilities up 23.08% YoY, indicating a growing debt load that may strain liquidity and covenant headroom.
- Revenue and margin pressure from tariff declines: average on-grid electricity prices fell - wind: -1.92%, solar: -6.12% - reducing top-line power revenue and cash generation.
- Compressing profitability: gross margin for 2024 down 1.88 percentage points to 55.11%, reflecting cost or pricing pressure.
- Business-model and execution risk: entry into AI computing power services (green energy + computing) requires capex, technical capability, and market demand validation.
- Sector diversification risks: exploring high-energy-consuming industries and coal chemical sectors exposes the company to commodity, regulatory, and environmental risks that differ from core renewable operations.
| Metric | Latest Value / Change |
|---|---|
| Debt-to-Equity Ratio | ≈ 3.02 |
| Total Liabilities (YoY change) | +23.08% |
| Average On-grid Price - Wind | -1.92% |
| Average On-grid Price - Solar | -6.12% |
| Gross Margin (2024) | 55.11% (down 1.88 pp) |
| New business initiatives | Green energy + AI computing power; exploration in high-energy-consuming & coal chemical sectors |
Risk drivers to monitor include interest-rate trends and refinancing needs given the leverage; on-grid tariff movements for wind and solar; realized gross margins versus guidance; capex and operating cash burn related to AI-computing deployments; and regulatory shifts affecting coal chemicals and large energy consumers. For background on the company's history, ownership and business model, see NYOCOR Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
NYOCOR Co., Ltd. (600821.SS) - Growth Opportunities
NYOCOR Co., Ltd. is positioning itself to scale its renewable-energy footprint and to capture synergies between green power and heavy-industry demand. Key growth levers include near-term capital deployment in photovoltaic projects, rapid capacity expansion, a deep pipeline of approved projects, and exploratory moves into integrated business models such as 'Green Electricity+' and computing-power services for AI.- Planned investment: nearly 4.0 billion CNY across six photovoltaic power projects, including a 200 MW agricultural + photovoltaic + storage complementary project in Guigang City (200 MW = 200,000 kW).
- Installed capacity expansion: reached 5.554 million kW (5,554,000 kW) by end-2024 - a 24% year-on-year increase.
- Approved project pipeline: 7.468 million kW of projects already approved, supporting multi-year capacity growth.
- Strategic integration: actively exploring the 'Green Electricity+' model to integrate renewables with energy-intensive industries (coal chemicals, electrolytic aluminum, magnesium smelting).
- New markets: entry into AI computing power services by pairing green energy supply with computing capacity demand; exploring synergy opportunities in high-energy-consuming and coal chemical sectors.
| Metric | Value |
|---|---|
| Installed green energy capacity (end-2024) | 5,554,000 kW |
| YoY capacity growth (2024) | 24% |
| Approved project pipeline | 7,468,000 kW |
| Planned PV projects | 6 projects |
| Planned investment (PV projects) | ~4,000,000,000 CNY |
| Notable single project | Guigang agricultural PV + storage complementary - 200 MW (200,000 kW) |
- Capital allocation focus: near-term deployment into distributed/utility-scale PV plus storage to convert the approved pipeline into operational capacity.
- Commercial strategy: target offtake and co-location with coal chemical, electrolytic aluminum, and magnesium smelting customers to optimize utilization and price stability under the 'Green Electricity+' framework.
- Innovation and diversification: pilot projects linking green electricity with computing power centers (AI farms) to monetize renewable baseload and ancillary services.
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