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.
A director at China Gas Holdings Ltd bought 443,200 shares at 24.390HKD and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The nam...
CHINA GAS HOLDINGS LTD. (HK), a company active in the Gas Distribution industry, sees its general evaluation downgraded to Neutral on account of a double requalification. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour has also deteriorated and is evaluated as moderately risky. theScreener believes that the loss of a star(s) and the increased risk justifies the general evaluation downgrade, which passes to Neutral. As of the analysis date June 30, 2020, the closing price was HKD 23.90 and its expected value ...
China Gas’ FY20 core net profit surged 16.4% yoy despite the COVID-19 impact. Retail gas sales volume grew 6% yoy, dragged by the 13% yoy drop in 4QFY20. Gas sales growth recovered to 8% yoy in Apr 20 and 10% yoy in May 20. Dollar margin remained flat yoy at Rmb0.605/cbm in FY20. The company launched LPG micro pipeline network projects in 2020, which should fuel earnings growth in the future. We lift our target price to HK$37.60. Maintain BUY.
Zoomlion is raising Rmb6.6b via an A-share private placement to four strategic investors, including its management team. We consider the investment in a smart factory and key components (hydraulic valve) to be important to the company. Meanwhile, its new dividend policy indicates an attractive dividend yield of 5% for its H-shares. We expect Zoomlion to deliver much better-than-expected results in 2H20 and 2021. Maintain BUY and raise target price to HK$8.50.
The recent “618” sales campaign was successful with better-than-expected sales and positive consumer sentiment, as efforts from government initiatives and industry players paid off. Despite the completion of the sales campaign, Alibaba remain confident that it brings the highest ROI to merchants as the ROI has been continuously improving. Maintain BUY with target price raised to US$275.00 from US$240.00.
KEY HIGHLIGHTS Update Alibaba Group (BABA US/BUY/US$223.60/Target: US$275.00) New initiatives fuelling growth recovery. Changsha Zoomlion Heavy Industry (1157 HK/BUY/HK$7.17/Target: HK$8.50) A-share private placement to support long-term growth. TRADERS’ CORNER Beijing Enterprises (392 HK): Trading Buy Range: HK$29.95-30.00 CEB Greentech (1257 HK): Trading Buy Range: HK$3.56-3.57
GREATER CHINA Strategy Alpha Picks: Greater China July Conviction List: Keep beta low amid uncertainties from rising Sino-US tensions and the surge in new COVID-19 infections in the US. INDONESIA Update Nippon Indosari Corpindo (ROTI IJ/BUY/Rp1,195/Target: Rp1,680): Earnings to rise by >15% yoy; no impact from COVID-19. MALAYSIA Strategy Alpha Picks: Opportunities Amid Market Consolidation: Our June alpha picks outperformed the FBMKLCI driven by gains from Top Glove and GENM. July picks: BUY BAT, GENM, Top Glove and Tenaga; SELL AirAsia. Update TIME dotCom (TDC MK/BUY/RM10.88/Target: RM1...
S-REITs gained 2.4% due to the gradual easing under Phase 2 of re-opening with tourist attractions scheduled to reopen from 1 Jul 20 and cinemas from 13 Jul 20. We turn our spotlight to IREIT Global, a pure play on office properties in Europe that provides a distribution yield of 8.5% and yield spread of 9.0%. Maintain OVERWEIGHT. BUY retail REITs CMT (Target: S$2.60) and FCT (Target: S$2.85), hospitality REITs ART (Target: S$1.16) and FEHT (Target: S$0.62), and office REIT KREIT (Target: S$1.30).
MAS stated in Apr 20 that it does not see a need to restrict banks’ dividend policies and we do not expect MAS to make a U-turn in its stance. Singapore banks intend to maintain their CET-1 CAR within their comfort range of 12.5-13.5%. We expect any trimming of DPS to be manageable at 10% or less. Maintain OVERWEIGHT. BUY DBS (Target: S$26.22) and OCBC (Target: S$12.18).
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