Gas Distributors See Manageable Impact From Temporary City-Gate Price Hike and Winter Gas Shortage
We remain positive on the long-term outlook for China’s city gas sector, but we think China Gas Holdings, or CGH, is currently fairly valued, as the potential strong growth from rural projects has been largely priced in. Meanwhile, we believe China Resources Gas, or CRG, and ENN Energy Holdings currently offer better upside. Our preferred pick for the sector is ENN, as we think the firm’s ability to secure its gas source at a more competitive price will reduce the risk of supply bottlenecks vers...China Resources Gas Group is an investment holding company. Co. operates a gas utilities group in China that is principally engaged in downstream city gas distribution business including piped natural gas distribution and natural gas filling stations operations. Co. and its subsidiaries' operating segments are as follows: sale and distribution of gas fuel and related products; which is engaged in the sale of natural gas and liquefied petroleum gas for residential, commercial and industrial use; and Gas connection, which engaged in the construction of gas pipelines networks under gas connection contracts.
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