China Gas’ outlook remains promising on the back of sustained demand growth for natural gas.
Narrow-moat China Gas Holdings', or CGH’s, first-half fiscal 2017 net profit of CNY 1.69 billion was up 29.7% year over year and accounted for 44.6% of our previous forecast. We consider the results to be within our expectations, as we are anticipating stronger second-half results following one-off events, such as litigation expenses and disruption of its LPG business due to accidents, which hurt first-half earnings. Our earnings forecasts for fiscal 2017-19 are largely unchanged, but we raise o...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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