Wikipedia:Articles for deletion/China Windpower Group


 * The following discussion is an archived debate of the proposed deletion of the article below. Please do not modify it. Subsequent comments should be made on the appropriate discussion page (such as the article's talk page or in a deletion review).  No further edits should be made to this page.

The result was keep.  Sandstein  20:11, 5 April 2019 (UTC)

China Windpower Group

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The coverage (references, external links, etc.) does not seem sufficient to justify this article passing General notability guideline and the more detailed Notability (companies) requirement. Just being listed on a stick exchange is not sufficient, see WP:LISTED. I can't find any non-trivial / non-press-release sources about the company. It existss, but WP:NOTYELLOWPAGES. Piotr Konieczny aka Prokonsul Piotrus&#124; reply here 11:08, 22 March 2019 (UTC)
 * Note: This discussion has been included in the list of Companies-related deletion discussions. Icewhiz (talk) 14:07, 22 March 2019 (UTC)
 * Note: This discussion has been included in the list of Hong Kong-related deletion discussions. Icewhiz (talk) 14:07, 22 March 2019 (UTC)


 * Oppose (for bureaucratic reason) Per WP:BEFORE, did you tried the Chinese name, or before reverse IPO, ? Yes, there are lots of Chinese concept stock in the Hong Kong stock exchange, which had a small market capitalization as well as lack of media coverage, but it would be a bias to say no English source thus delete. Matthew hk (talk) 22:58, 23 March 2019 (UTC)
 * It is unfair to require the nominator to check other languages they may not be able to speak, and I don't see such a requirement on WP:BEFORE. If anyone can identify reliable sources in other languages, they are welcome to present them here. If not, saying that 'there may be sources in Chinese or another languages' is pretty much WP:MUSTBESOURCES. For the record, I did look at the Chinese version of this article, which has two references, and dismissed them, as machine translation suggests they are just press release/routine type of coverage. --Piotr Konieczny aka Prokonsul Piotrus&#124; reply here  05:40, 25 March 2019 (UTC)


 * The article was in bad shape, but if you click the ticker symbol link, the current name of the company was Concord New Energy Group. And some googling, would got the former name of the company was Hong Kong Pharmaceutical Holdings. Matthew hk (talk) 10:41, 25 March 2019 (UTC)

 Relisted to generate a more thorough discussion and clearer consensus.

Please add new comments below this notice. Thanks, North America1000 11:07, 29 March 2019 (UTC)

Keep per the significant coverage in multiple independent reliable sources. From Notability (organizations and companies) (my bolding): "There has been considerable discussion over time whether publicly traded corporations, or at least publicly traded corporations listed on major stock exchanges such as the NYSE and other comparable international stock exchanges, are inherently notable. Consensus has been that notability is not automatic in this (or any other) case. However, sufficient independent sources almost always exist for such companies, so that notability can be established using the primary criterion discussed above. Examples of such sources include independent press coverage and analyst reports. Accordingly, article authors should make sure to seek out such coverage and add references to such articles to properly establish notability." Analyst reports  Credit Suisse published a 1 November 2016 analyst report on pages 66–81 of https://plus.credit-suisse.com/rpc4/ravDocView?docid=V6fZD92AF-WElY95 written by analysts Gary Zhou, Gloria Yan, Dave Dai, and Patrick Jobin that profiles Concord New Energy, which is the successor to China Windpower Group. The report summarizes what the company does: Concord New Energy (CNE) specialises in wind and solar power operation. The company is the only pure vertical integrated clean energy power company listed on the Hong Kong Stock Exchange. CNE's core businesses include wind and solar farm investment, operation and services (early stage development, design and consultancy, construction, operation and maintenance, and new energy equipment manufacturing). CNE has investment in more than 52 wind & solar farm, and also owns power design, construction and installation company, as well as power farm operation and maintenance company. The report further notes: "We initiate coverage of Concord New Energy (CNE) with an OUTPERFORM rating and DCF-based target price of HK$0.56. We expect CNE to deliver 24% FY16-18E EPS CAGR driven by—(1) balanced expansion of solar and wind farms; (2) wind utilisation recovery on policy support; and (3) construction margin improvement with business shift from EPC to BT model. Its current low-gearing ratio supports such growth. ... Key downside risks are (1) larger-than-expected solar tariff cut, (2) higher wind curtailment, and (3) lower build-and transfer (BT) revenue. ...  CNE mainly focuses on wind and solar farm investment, operation and services. In 2015, 62% of CNE's operating profit came from wind and solar farm operation and 35% came from EPC business. Looking forward, we expect power plant operation to become the company's major growth driver. ...  Unlike other pure wind/solar operators, CNE has diversified into both wind and solar farm operations. ... CNE was among the earliest companies to step into wind power business in 2007 (named as China Wind Power), and has extensive experience in EPC and wind farm operation. By 1H16, CNE had a total wind capacity of 1,777 MW and attributable wind capacity of 824 MW. During the previous years, most of CNE's invested wind farms were joint ventures or associates. Since 2015, with the improvement of the company's financing ability, it is gradually increasing its stake in the projects, and most of the new projects are consolidated. We expect its wind power to maintain the strong-growth momentum with around 59-71% attributable power output generated by wind in FY16-18E. ... Currently, the investors' major concern over wind operator's near-term visibility is the curtailment issue. ..." GF Securities (Hong Kong) Brokerage Limited (廣發控股(香港)有限公司) published a 12 December 2017 analyst report at https://www.gfgroup.com.hk/docs/gfgroup/securities/Report/CorporateReport/Concord%20New%20Energy%20(182%20HK)%20Dec%2012.pdfInternet Archive written by analyst Han Ling that profiles Concord New Energy, which is the successor to China Windpower Group. The report notes: "Concord New Energy (182 HK) Company focusing more on wind power business for steadier growth Wind power: curtailment issues alleviated The company’s wind power curtailment rate came down significantly from 24% in 1H16 to 12% in 1H17, with 72% of its pro-rata installed capacity in operation located in areas not subject to curtailment.... Key risks include an economic downturn; weaker-than-expected policy support for solar and wind power; improvements in curtailment issues not being sustainable; subsidy payment delays; disappointments form the investment, development and operation of power plants; and slower-than-expected progress in BT projects." Fitch Ratings published a 6 November 2017 analyst report at https://www.reuters.com/article/fitch-assigns-first-time-bb-rating-to-co-idAFFit90H4nPInternet Archive written by analysts Renee Lam and Penny Chen. The report assigned a 'BB-' Rating to Concord New Energy. The report notes: "The rating also incorporates CNE's high financial leverage due to large debt-funded expansionary capex as it aggressively expands capacity over the next two to three years, higher structural subordination relative to renewable transactions by Fitch-rated peers and the typical time lag in receiving subsidy payments faced by wind and solar generators in China. However, as CNE is largely exposed to wind power generation, its subsidy exposure is lower than for operators more exposed to solar. CNE has a weak near-term financial profile for its 'BB-' rating, characterised by its high financial leverage. ... Evolving Business Profile: CNE has actively managed its business strategy in response to changing market conditions and shifted its focus from EPC services and equipment sales to solar and wind farm development and operation. We believe CNE's experience in the upstream EPC segment helps mitigate execution risk to some extent, despite a short record in wind-power operation and management." There is sufficient coverage in reliable sources to allow China Windpower Group to pass Notability, which requires "significant coverage in reliable sources that are independent of the subject". Cunard (talk) 08:36, 1 April 2019 (UTC) </ul>
 * Keep per sources identified by Cunard, which undertake independent analysis to evaluate risks, evaluate company health, and make comparisons to other companies in the industry, satisying WP:CORPDEPTH and WP:ORGIND. MarginalCost (talk) 14:41, 5 April 2019 (UTC)


 * The above discussion is preserved as an archive of the debate. <b style="color:red">Please do not modify it.</b> Subsequent comments should be made on the appropriate discussion page (such as the article's talk page or in a deletion review). No further edits should be made to this page.