BEH’s First Half Beats on Robust Gas Demand and Improving Tariffs; Shares Remain Undervalued
Narrow-moat Beijing Enterprises Holdings', or BEH’s, 13% year-over-year growth in first-half net profit was encouraging, with decent growth across all segments. The result was slightly ahead of our expectations, with stronger-than-expected gas demand and higher tariffs being the key drivers. Along with a 19% jump in contribution from 25%-owned associated China Gas, the improved gas sales more than offset the 37% tariff cut on the Shaanxi-Beijing gas transmission pipeline, or SJ pipeline, and dro...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.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.