Beijing Enterprises Holdings (Red Chip)

Beijing Enterprises is an investment holding company. Co.'s segments include: piped gas operation, which is engaged in, among others, the distribution and sale of piped natural gas, and the provision of repairs and maintenance services; brewery operation, which is engaged in, among others, the production, distribution and sells of brewery products; sewage and water treatment operations, which is engaged in, among others, the construction of sewage and water treatment plants and other infrastructural facilities; corporate and others, which is comprised of, among others, the construction of waste treatment plants, the construction of broadband infrastructure, and property investment.
  • Ticker0392
  • ISINHK0392044647
  • ExchangeHong Kong Stock Exchange
  • SectorGeneral Industrials
  • CountryHong Kong

BEIJING ENTS.HDG.LTD. increases its risk exposure and slightly lowers to Neutral

BEIJING ENTS.HDG.LTD. (HK), a company active in the Gas Distribution industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date May 17, 2019, the closing price was HKD 38.80 and its expected value was estimated at HKD 42.60.

Jennifer Song

Morningstar | BEH’s Full-Year 2018 Result In-Line; Shares Undervalued on Healthy Long-Term Outlook

We maintain our fair value estimate of HKD 58 per share for narrow-moat Beijing Enterprises Holdings, or BEH, following the company’s full-year 2018 results that were in line with our expectations. Net profit rose 10% year over year, with decent growth across segments. Gas demand was robust, with gas transmission volume on Shaanxi-Beijing pipelines, SJ pipelines, rising 28% and distribution volume in Beijing up 15% from a year ago. This, along with a 22% jump in profit contribution from 25%-owned associate China Gas, helped offset the negative impact from the tariff cut on SJ pipelines, lead...

Jennifer Song

Morningstar | BEH Is Riding on China's Antipollution Drive

Founded in 1997, Beijing Enterprises Holdings, or BEH, is the listed flagship of the Beijing municipal government, with a strategic focus on public utilities. It has a monopoly position in Beijing’s natural gas distribution, owns unparalleled gas transmission and distribution networks in Beijing, and controls 40% of the Shaanxi-Beijing pipelines, the major source of natural gas supply for Beijing and northern China. It has a unique customer mix, with gas-fired power and heating plants the most prominent demand segments, allowing the company to benefit from a favorable policy environment. The...

Jennifer Song

BEH Is Riding on China's Antipollution Drive

It appears fourth-quarter natural gas demand is higher than anticipated and we lift our 2018 earnings estimate by 5% to HKD 7.6 billion for Beijing Enterprises, or BEH, but this trend is not expected to be sustained. We anticipate little change to our midcycle assumptions and five-year net profit CAGR of 8%. Our fair value estimate of HKD 58.00 per share is unchanged, after factoring in lower profit contributions from BEH’s Russia oil and gas associate, due to a cut in our near-term crude oil pr...

Jennifer Song

BEH’s Full-Year 2018 Result In-Line; Shares Undervalued on Healthy Long-Term Outlook

We maintain our fair value estimate of HKD 58 per share for narrow-moat Beijing Enterprises Holdings, or BEH, following the company’s full-year 2018 results that were in line with our expectations. Net profit rose 10% year over year, with decent growth across segments. Gas demand was robust, with gas transmission volume on Shaanxi-Beijing pipelines, SJ pipelines, rising 28% and distribution volume in Beijing up 15% from a year ago. This, along with a 22% jump in profit contribution from 25%-owne...

Jennifer Song

Morningstar | BEH’s Full-Year 2018 Result In-Line; Shares Undervalued on Healthy Long-Term Outlook

We maintain our fair value estimate of HKD 58 per share for narrow-moat Beijing Enterprises Holdings, or BEH, following the company’s full-year 2018 results that were in line with our expectations. Net profit rose 10% year over year, with decent growth across segments. Gas demand was robust, with gas transmission volume on Shaanxi-Beijing pipelines, SJ pipelines, rising 28% and distribution volume in Beijing up 15% from a year ago. This, along with a 22% jump in profit contribution from 25%-owned associate China Gas, helped offset the negative impact from the tariff cut on SJ pipelines, lead...

Jennifer Song

Morningstar | BEH Is Riding on China's Antipollution Drive

Founded in 1997, Beijing Enterprises Holdings, or BEH, is the listed flagship of the Beijing municipal government, with a strategic focus on public utilities. It has a monopoly position in Beijing’s natural gas distribution, owns unparalleled gas transmission and distribution networks in Beijing, and controls 40% of the Shaanxi-Beijing pipelines, the major source of natural gas supply for Beijing and northern China. It has a unique customer mix, with gas-fired power and heating plants the most prominent demand segments, allowing the company to benefit from a favorable policy environment. The...

Jennifer Song

BEH Is Riding on China's Antipollution Drive

It appears fourth-quarter natural gas demand is higher than anticipated and we lift our 2018 earnings estimate by 5% to HKD 7.6 billion for Beijing Enterprises, or BEH, but this trend is not expected to be sustained. We anticipate little change to our midcycle assumptions and five-year net profit CAGR of 8%. Our fair value estimate of HKD 58.00 per share is unchanged, after factoring in lower profit contributions from BEH’s Russia oil and gas associate, due to a cut in our near-term crude oil pr...

Jennifer Song

BEH’s Full-Year 2018 Result In-Line; Shares Undervalued on Healthy Long-Term Outlook

We maintain our fair value estimate of HKD 58 per share for narrow-moat Beijing Enterprises Holdings, or BEH, following the company’s full-year 2018 results that were in line with our expectations. Net profit rose 10% year over year, with decent growth across segments. Gas demand was robust, with gas transmission volume on Shaanxi-Beijing pipelines, SJ pipelines, rising 28% and distribution volume in Beijing up 15% from a year ago. This, along with a 22% jump in profit contribution from 25%-owne...

Jennifer Song

BEH Remains Our Best Idea on Robust Gas Demand Outlook; Shares Remain Undervalued.

It appears fourth-quarter natural gas demand is higher than anticipated and we lift our 2018 earnings estimate by 5% to HKD 7.6 billion for Beijing Enterprises, or BEH, but this trend is not expected to be sustained. We anticipate little change to our midcycle assumptions and five-year net profit CAGR of 8%. Our fair value estimate of HKD 58.00 per share is unchanged, after factoring in lower profit contributions from BEH’s Russia oil and gas associate, due to a cut in our near-term crude oil pr...

BEIJING ENTS.HDG.LTD. increases its risk exposure and slightly lowers to Neutral

BEIJING ENTS.HDG.LTD. (HK), a company active in the Gas Distribution industry, now shows a lower overall rating. The independent financial analyst theScreener confirms the fundamental rating of 2 out of 4 stars. However, the market behaviour deterioration triggered a risk requalification, which can be thus described as moderately risky. theScreener believes that increased risk justifies the general evaluation downgrade to Neutral. As of the analysis date May 17, 2019, the closing price was HKD 38.80 and its expected value was estimated at HKD 42.60.

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