In-depth Analysis of Puxing Energy (00090.HK)'s Strong 2025 Stock Price Performance and Driving Factors

Puxing Energy is an energy company focusing on natural gas power generation and heating. It owns and operates natural gas power plants (with a total installed capacity of approximately 687MW) and is also involved in distributed photovoltaic power generation projects (about 1,072kW), belonging to the Utilities—Renewable Energy sector [1].

• Stock Price Gain
  : Year-to-date gain of over 100%, 52-week increase of 164.89%, far outperforming the Hang Seng Index (+28.70%) in the same period [1]
• Market Cap Change
  : Grew from approximately HK$500 million to HK$5.09 billion [1]
• Financial Indicators
  : Profit margin (TTM) turned from loss to positive, and return on equity (ROE) rose to about 4% [1]

Global energy demand recovery and China’s “Dual Carbon” policy promote natural gas as a transitional energy source, benefiting Puxing Energy directly [1].

The company aligns with the green energy transition narrative, attracting ESG fund allocations [1].

Price-to-earnings ratio (P/E) is about 13.88 times, market cap is around HK$5 billion, with good liquidity [1].

• Policy Dependence
  : Business is greatly affected by energy policies
• Raw Material Volatility
  : Fluctuations in natural gas prices impact profits
• Increased Competition
  : More competitors in the new energy sector
• Valuation Volatility
  : High-beta stock characteristics lead to greater price fluctuations than the broader market [1]

Puxing Energy’s stock price surge is the result of combined effects from industry prosperity, policy support, ESG trends, and valuation advantages. However, relevant risks should be monitored.