Report
Jennifer Song
EUR 100.00 For Business Accounts Only

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...
Underlying
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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Jennifer Song

Other Reports on these Companies
Other Reports from Morningstar
Other Reports from these Analysts

ResearchPool Subscriptions

Get the most out of your insights

Get in touch