China Gas Holdings Should Report In-Line Fiscal 2017 Results; Increasing FVE to HKD 11.70
Narrow-moat China Gas Holdings, or CGH, will report its fiscal 2017 final results at the end of June 2017. Given no major surprises in recent earnings from its closest peers, we expect China Gas' results to be within our projections. We raise our fair value estimate slightly to HKD 11.70 from HKD 11.40 to take into account the time value of money. We think CGH is fairly valued at the current level.China Resources Gas and ENN Energy, the firm’s close peers, have reported year-over-year natural g...
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.
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