China Gas Holdings (P Chip)

China Gas Holdings and its subsidiaries is a gas operator and service provider primarily engaged in the investment, construction and operation of city gas pipeline infrastructure facilities, gas terminals, storage and transportation facilities, and gas logistics systems, transmission of natural gas and liquefied petroleum gas (LPG) to residential, industrial and commercial customers, construction and operation of compressed natural gas/liquefied natural gas refilling stations as well as the development and application of technologies relating to natural gas and LPG in China.
  • Ticker0384
  • ISINBMG2109G1033
  • ExchangeHong Kong Stock Exchange
  • SectorOil Equipment, Services & Distribution
  • CountryBermuda

China Gas Holdings Ltd: 1 director bought

A director at China Gas Holdings Ltd bought 443,200 shares at 24.390HKD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The nam...

CHINA GAS HOLDINGS LTD. receives a double requalification that leads to a downgrade to Neutral

CHINA GAS HOLDINGS LTD. (HK), a company active in the Gas Distribution industry, sees its general evaluation downgraded to Neutral on account of a double requalification. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour has also deteriorated and is evaluated as moderately risky. theScreener believes that the loss of a star(s) and the increased risk justifies the general evaluation downgrade, which passes to Neutral. As of the analysis date June 30, 2020, the closing price was HKD 23.90 and its expected value ...

UOB
Zhifeng Shen

China Gas Holdings: FY20: Solid earnings growth; LPG micro pipeline network to fuel future growth

China Gas’ FY20 core net profit surged 16.4% yoy despite the COVID-19 impact. Retail gas sales volume grew 6% yoy, dragged by the 13% yoy drop in 4QFY20. Gas sales growth recovered to 8% yoy in Apr 20 and 10% yoy in May 20. Dollar margin remained flat yoy at Rmb0.605/cbm in FY20. The company launched LPG micro pipeline network projects in 2020, which should fuel earnings growth in the future. We lift our target price to HK$37.60. Maintain BUY.

UOB
Adrian Loh Tzum Yung ...
  • Benyamin Mikael
  • Carol Dou Xiao Qin
  • K Ajith
  • Kader Farhan Bin Kader Ridzwan
  • Michael Cheung Ho Bun
  • Philip Wong
  • Shaun Tan
  • Siwakorn Mitsantisuk
  • Zhifeng Shen
  • Ziv Ang Sze Champ

Regional Morning Notes - Monday, June 29, 2020

GREATER CHINA Sector Property: Sales momentum sustained in primary market. Results China Gas (384 HK/BUY/HK$27.20/Target: HK$37.60): FY20: Solid earnings growth; LPG micro pipeline network to fuel future growth. Update BOC Aviation (2588 HK/HOLD/HK$48.20/Target: HK$50.20): Rising airline failures raise credit risk. The United Labs (3933 HK/BUY/HK$6.98/Target: HK$9.00): Expect insulin segment to continue to outperform; upgrade to BUY. INDONESIA Update Ciputra Development (CTRA IJ/BUY/Rp630/Target: Rp1,000): Better business outlook and stronger financials. MALAYSIA Results Gabungan AQRS (AQRS ...

UOB
Greater China Research Team

Strategy - Alpha Picks: Greater China June Conviction Calls

Despite the market rally in the first 20 days of the month, May 20 still saw a sharp decline amid rising Sino-US tensions. We expect equity markets to remain volatile in June; hence, we prefer low-beta and stick to the beneficiaries of policy support, durable themes and names with strong balance sheets. Our key picks are Ausnutria Dairy, CEG, CIFI, Kingsoft and ZTE.

China Gas Holdings Ltd: 1 director bought

A director at China Gas Holdings Ltd bought 443,200 shares at 24.390HKD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The nam...

UOB
Zhifeng Shen

China Gas Holdings: FY20: Solid earnings growth; LPG micro pipeline network to fuel future growth

China Gas’ FY20 core net profit surged 16.4% yoy despite the COVID-19 impact. Retail gas sales volume grew 6% yoy, dragged by the 13% yoy drop in 4QFY20. Gas sales growth recovered to 8% yoy in Apr 20 and 10% yoy in May 20. Dollar margin remained flat yoy at Rmb0.605/cbm in FY20. The company launched LPG micro pipeline network projects in 2020, which should fuel earnings growth in the future. We lift our target price to HK$37.60. Maintain BUY.

UOB
Adrian Loh Tzum Yung ...
  • Benyamin Mikael
  • Carol Dou Xiao Qin
  • K Ajith
  • Kader Farhan Bin Kader Ridzwan
  • Michael Cheung Ho Bun
  • Philip Wong
  • Shaun Tan
  • Siwakorn Mitsantisuk
  • Zhifeng Shen
  • Ziv Ang Sze Champ

Regional Morning Notes - Monday, June 29, 2020

GREATER CHINA Sector Property: Sales momentum sustained in primary market. Results China Gas (384 HK/BUY/HK$27.20/Target: HK$37.60): FY20: Solid earnings growth; LPG micro pipeline network to fuel future growth. Update BOC Aviation (2588 HK/HOLD/HK$48.20/Target: HK$50.20): Rising airline failures raise credit risk. The United Labs (3933 HK/BUY/HK$6.98/Target: HK$9.00): Expect insulin segment to continue to outperform; upgrade to BUY. INDONESIA Update Ciputra Development (CTRA IJ/BUY/Rp630/Target: Rp1,000): Better business outlook and stronger financials. MALAYSIA Results Gabungan AQRS (AQRS ...

UOB
Greater China Research Team

Strategy - Alpha Picks: Greater China June Conviction Calls

Despite the market rally in the first 20 days of the month, May 20 still saw a sharp decline amid rising Sino-US tensions. We expect equity markets to remain volatile in June; hence, we prefer low-beta and stick to the beneficiaries of policy support, durable themes and names with strong balance sheets. Our key picks are Ausnutria Dairy, CEG, CIFI, Kingsoft and ZTE.

UOB
Zhifeng Shen

Gas - Solid gas demand recovery and low LNG prices benefit distributors

China’s national apparent gas demand growth reached 8.9% yoy in Apr 20, pushing up 4M20 demand growth to 3.3% yoy from 1.6% yoy in 1Q20. China Gas’ and ENN’s gas sales growth in Apr 20 reached 9% yoy and 8% yoy respectively. LNG prices saw a >25% ytd drop, which drove LNG imports’ 12.9% yoy jump in Apr 20. ENN is planning for more spot LNG purchases in 2020; China Gas and CR Gas would also benefit from low-priced LNG. Maintain OVERWEIGHT on the gas sector.

UOB
Greater China Research Team

Strategy - Alpha Picks: Greater China May Conviction Calls

The Chinese equity markets in Apr 20 saw the strongest monthly rebound since the beginning of 2020, but the uncertainties of the COVID-19 pandemic are still deterring the markets from a full recovery. We remain positive on the beneficiaries of policy support and durable themes, and focus on names with strong balance sheets and low dependence on global supply chains. Our key picks are Ausnutria Dairy, CEG, CIFI, JD.com and ZTE.

UOB
Jayson Kong ...
  • Joyce Chan Pui Lai
  • Julia Cheung Pui Man
  • Katrina Chen Chucan
  • Lee Yuk Kei
  • Tham Mun Hon
  • Zhifeng Shen

Greater China Daily: Wednesday, October 16, 2019

KEY HIGHLIGHTS Economics Inflation Falling PPI inflation points to further earnings pressure. Money Supply Further RRR cuts needed. Asian Gems Corporate Highlights China Gas Holdings (384 HK/BUY/HK$31.90/Target: HK$36.39) Multiple engines to drive growth. Xiabuxiabu Catering Management (520 HK/BUY/HK$10.50/Target: HK$13.50) Recovery on track. TRADERS’ CORNER ZA Online (6060 HK): Trading Buy Range COFCO Packaging (906 HK): Trading Buy Range

UOB
Carol Dou Xiao Qin ...
  • Charles Wong Kok Min
  • Joyce Chan Pui Lai
  • Julia Pan Mengyao
  • Katrina Chen Chucan
  • Michael Cheung Ho Bun
  • Zhifeng Shen

Greater China Daily: Wednesday, September 25, 2019

KEY HIGHLIGHTS Sector Healthcare 25-province GPO lowers tender prices further; pressure remains on other generics. Update China Gas Holdings (384 HK/BUY/HK$29.55/Target: HK$36.39) Key takeaways from field research in Northeast China. Edvantage Group Holdings (382 HK/NOT RATED/HK$3.77) Largest business school in the Greater Bay Area. TRADERS’ CORNER SD Gold (1787 HK): Trading Buy Range Ping An (2318 HK): Trading Sell Range

UOB
Johnny Yum Chung Man ...
  • Ken Lee
  • Zhifeng Shen

Greater China Daily: Monday, June 24, 2019

KEY HIGHLIGHTS CHINA Sector Automobile Weekly sales data: Retail sales up 25% yoy in second week of June amid ongoing destocking. Results China Gas (384 HK/BUY/HK$27.85/Target: HK$36.39) FY19: Strong gas sales and rural connections.

UOB
Joyce Chan Pui Lai ...
  • Julia Cheung Pui Man
  • Lee Yuk Kei
  • Neo Chen Wentao
  • Sandra Huang Jieqiong
  • Shaun Tan

Greater China Daily: Monday, May, 27, 2019

KEY HIGHLIGHTS CHINA Sector Coal A gloomy 2019, downgrade to UNDERWEIGHT. Results I.T (999 HK/HOLD/HK$3.75/Target: HK$3.69) FY19: In line; no change to store expansion strategy in China. HONG KONG Sector Property Weekly Wrap-up: REDA relaxes sales guidelines. TRADERS’ CORNER China Gas (384 HK): Trading Buy Range Tsingtao Brewery (168 HK): Trading Sell Range

UOB
Johnny Yum Chung Man ...
  • Joyce Chan Pui Lai
  • Ken Lee
  • Robin Yuen
  • Zhifeng Shen

Greater China Daily: Wednesday, April, 17, 2019

KEY HIGHLIGHTS CHINA Shariah Gems Conference Highlights China Gas (384 HK/BUY/HK$25.55/Target: HK$35.44) Key takeaways from Malaysia Shariah Gems Conference: Organic expansion in FY19 gas sales. China Lilang (1234 HK/NOT RATED/HK$8.81) Smart casual and e-commerce driving growth Geely Auto (175 HK/BUY/HK$16.68/Target: HK$20.00) Takeaways from Malaysia Shariah Gems Conference: Updates on sales, margins, competition, partnerships and strategies. TRADERS’ CORNER CCB (939 HK): Trading Buy Range China Education (839 HK): Trading Buy Range

UOB
Greater China Research Team ...
  • Joyce Chan Pui Lai

Greater China Daily: Thursday, April, 4, 2019

KEY HIGHLIGHTS CHINA Strategy Alpha Picks: Greater China April Conviction List Take profit on China Mengniu Dairy. TRADERS’ CORNER CGS (6881 HK): Trading Buy Range Sino-Ocean Group (3377 HK): Trading Buy Range

CHINA GAS HOLDINGS LTD. receives a double requalification that leads to a downgrade to Neutral

CHINA GAS HOLDINGS LTD. (HK), a company active in the Gas Distribution industry, sees its general evaluation downgraded to Neutral on account of a double requalification. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour has also deteriorated and is evaluated as moderately risky. theScreener believes that the loss of a star(s) and the increased risk justifies the general evaluation downgrade, which passes to Neutral. As of the analysis date June 30, 2020, the closing price was HKD 23.90 and its expected value ...

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