TacticScaleWhat Guangdong Electric Power Development (粤电力A) Does & How It Makes Money (000539.SZ)
Updated October 2026 · reflects Guangdong Electric Power Development's latest reported financials
Guangdong power producer running coal, LNG, wind and hydro plants. The company earns most of its revenue selling generated electricity, so profits hinge on power output, tariffs and fuel costs such as coal and LNG.
How Guangdong Electric Power Development makes money
The company earns most of its revenue selling generated electricity, so profits hinge on power output, tariffs and fuel costs such as coal and LNG. Smaller, steadier income comes from leasing terminal facilities, cargo handling and shipping, plus technical consulting, management and repair service fees.
What Guangdong Electric Power Development does
Guangdong Electric Power Development Co., Ltd. (000539.SZ), founded in 1992 and headquartered in Guangzhou, invests in, builds and operates electric power projects across the People's Republic of China. Its generation fleet spans coal-fired plants, LNG-fueled gas generation, wind farms and hydropower, giving it a mixed conventional-plus-new-energy portfolio anchored in Guangdong, one of China's largest power-consuming provinces. The company is a subsidiary of Guangdong Energy Group Co., Ltd.
Products & services
- Coal-fired power generation
- LNG (gas-fired) power generation
- Wind power generation
- Hydropower generation
- Terminal facility leasing and cargo storage, loading and shipping
- Power-industry technical consulting, management and repair services
粤电力A是做什么的？
广东电力发展股份有限公司（000539.SZ）成立于1992年，总部位于广州，主营电力项目和新能源项目的投资、建设与运营管理，以及电力生产和销售。公司发电资产涵盖燃煤电厂、液化天然气发电、风力发电和水力发电，形成传统电源与新能源并重的组合，立足于中国用电量最大的省份之一——广东。除发电主业外，公司还从事码头设施租赁、货物仓储装卸运输，并提供电力行业技术咨询、管理和检修等服务。公司为广东省能源集团有限公司的下属子公司。
What is Guangdong Electric Power Development worth?
On an owner-earnings DCF, Guangdong Electric Power Development's most-likely value is about ¥3 versus a recent price near ¥5 (51% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥2) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 100.0× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
GD Power Development (600795.SS) · Guangzhou Development (600098.SS) · Shenzhen Energy (000027.SZ) · Guangdong Baolihua New Energy Stock (000690.SZ)