GEPIC Energy Development Co., Ltd.

000791.SZ · SHZ

Company research

GEPIC Energy Development Co., Ltd. (000791.SZ) is a China-based renewable energy company principally engaged in the investment, development, and operation of hydroelectric, wind, and photovoltaic power generation projects, primarily across Gansu Province. The company's extensive portfolio includes 21 hydropower facilities with a combined installed capacity of approximately 1,698,900 kilowatts, 4 wind farms totaling 818,100 kilowatts, and 3 solar photovoltaic plants contributing 136,000 kilowatts to the grid. Founded in 1997 and headquartered in Lanzhou, China, the company was formerly known as Northwest Yongxin Chemical Industry Co., Ltd. before rebranding as GEPIC Energy Development Co., Ltd. in December 2012. Operating as a subsidiary of Gansu Province Electric Power Investment Group Co., Ltd., the company also provides technical consulting, power station operation management, and advisory services related to production and operational data, with a market capitalization of approximately CNY 27.9 billion.

Research reports

信达证券股份有限公司 · September 24, 2025甘肃国资旗下核心电力平台，火水风光多元化协同发展

First-time coverage on Gansu Energy as Gansu provincial core power platform, arguing that a diversified “fire–water–wind–solar” generation mix combined with the injected ChangLe coal plant materially lifts earnings, margins and ROE while providing long-duration, relatively low-volatility cash flows. The analysts forecast steady net profit growth through 2027 with falling P/E multiples, see upside from a 6.1GW renewable project pipeline and possible further thermal asset injections, and flag key risks around weaker utilization hours, tariff declines, project execution and coal price spikes.