Hong Kong Utilities Low Leverage High Rewards

Tianjin Development Holdings

Market Cap: HK$2.6b

Through its subsidiaries, supplies water, heat, thermal power, and electricity to industrial, commercial, and residential customers in the People’s Republic of China.

Guangdong Investment

Market Cap: HK$45.3b

An investment holding company, engages in water resources, property investment and development, department store operation, hotel ownership, energy project operation and management, and road and bridge operation businesses.

Kunlun Energy

Market Cap: HK$64.2b

An investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas in the Republic of Kazakhstan, the Sultanate of Oman, and the Kingdom of Thailand.

CK Infrastructure Holdings

Market Cap: HK$142.9b

An infrastructure company, invests in, develops, and operates infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States.

China Renewable Energy Investment

Market Cap: HK$320.8m

An investment holding company, engages in the renewable energy business in the People’s Republic of China and Hong Kong.

ENN Energy Holdings

Market Cap: HK$76.4b

An investment holding company, engages in the investment, construction, operation, and management of gas pipeline infrastructure in the People’s Republic of China.