Loading...

China Tian Lun Gas Holdings

SEHK:1600
Snowflake Description

Solid track record with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
1600
SEHK
HK$7B
Market Cap
  1. Home
  2. HK
  3. Utilities
Company description

China Tian Lun Gas Holdings Limited, together with its subsidiaries, engages in the transportation, distribution, and sale of natural gas and compressed natural gas through its gas pipeline connections in the People’ Republic of China. The last earnings update was 35 days ago. More info.


Add to Portfolio Compare Print
  • China Tian Lun Gas Holdings has significant price volatility in the past 3 months.
1600 Share Price and Events
7 Day Returns
0.4%
SEHK:1600
-1.1%
HK Gas Utilities
-3.5%
HK Market
1 Year Returns
37.1%
SEHK:1600
-1.1%
HK Gas Utilities
-16.8%
HK Market
1600 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Tian Lun Gas Holdings (1600) 0.4% -9.9% -14.4% 37.1% 33.3% -12.7%
HK Gas Utilities -1.1% -1% -0.2% -1.1% 70.8% 32.4%
HK Market -3.5% -9.6% -4.2% -16.8% 24.6% 7.2%
1 Year Return vs Industry and Market
  • 1600 outperformed the Gas Utilities industry which returned -1.1% over the past year.
  • 1600 outperformed the Market in Hong Kong which returned -16.8% over the past year.
Price Volatility
1600
Industry
5yr Volatility vs Market
Related Companies

Sorry, no analysis for China Tian Lun Gas Holdings's competitors could be found in our database.

1600 Value

 Is China Tian Lun Gas Holdings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of China Tian Lun Gas Holdings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for China Tian Lun Gas Holdings.

SEHK:1600 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.8%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:1600
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.42
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.417 (1 + (1- 25%) (84.55%))
0.787
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (0.8 * 5.96%)
6.77%

Discounted Cash Flow Calculation for SEHK:1600 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for China Tian Lun Gas Holdings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:1600 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 6.77%)
2019 176.00 Analyst x1 164.84
2020 231.50 Analyst x2 203.07
2021 1,067.67 Analyst x3 877.15
2022 2,328.00 Analyst x1 1,791.31
2023 2,170.00 Analyst x1 1,563.84
2024 2,076.25 Est @ -4.32% 1,401.39
2025 2,025.94 Est @ -2.42% 1,280.72
2026 2,003.75 Est @ -1.1% 1,186.36
2027 2,000.43 Est @ -0.17% 1,109.29
2028 2,010.13 Est @ 0.48% 1,043.98
Present value of next 10 years cash flows CN¥10,621.95
SEHK:1600 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥2,010.13 × (1 + 2%) ÷ (6.77% – 2%)
CN¥43,003.16
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥43,003.16 ÷ (1 + 6.77%)10
CN¥22,334.04
SEHK:1600 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥10,621.95 + CN¥22,334.04
CN¥32,955.99
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥32,955.99 / 989.62
CN¥33.3
SEHK:1600 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1600)
1.136
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥33.3 x 1.136
HK$37.82
Value per share (HKD) From above. HK$37.82
Current discount Discount to share price of HK$7.36
= -1 x (HK$7.36 - HK$37.82) / HK$37.82
80.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price China Tian Lun Gas Holdings is available for.
Intrinsic value
>50%
Share price is HK$7.36 vs Future cash flow value of HK$37.82
Current Discount Checks
For China Tian Lun Gas Holdings to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • China Tian Lun Gas Holdings's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • China Tian Lun Gas Holdings's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for China Tian Lun Gas Holdings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are China Tian Lun Gas Holdings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:1600 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in CNY CN¥0.58
SEHK:1600 Share Price ** SEHK (2019-05-21) in HKD HK$7.36
SEHK:1600 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥6.48
Hong Kong Gas Utilities Industry PE Ratio Median Figure of 13 Publicly-Listed Gas Utilities Companies 16.92x
Hong Kong Market PE Ratio Median Figure of 1,477 Publicly-Listed Companies 11.08x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of China Tian Lun Gas Holdings.

SEHK:1600 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:1600 Share Price ÷ EPS (both in CNY)

= 6.48 ÷ 0.58

11.27x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Tian Lun Gas Holdings is good value based on earnings compared to the HK Gas Utilities industry average.
  • China Tian Lun Gas Holdings is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does China Tian Lun Gas Holdings's expected growth come at a high price?
Raw Data
SEHK:1600 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.27x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
27.6%per year
Hong Kong Gas Utilities Industry PEG Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 1.18x
Hong Kong Market PEG Ratio Median Figure of 463 Publicly-Listed Companies 0.79x

*Line of best fit is calculated by linear regression .

SEHK:1600 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.27x ÷ 27.6%

0.41x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Tian Lun Gas Holdings is good value based on expected growth next year.
Price based on value of assets
What value do investors place on China Tian Lun Gas Holdings's assets?
Raw Data
SEHK:1600 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in CNY CN¥3.28
SEHK:1600 Share Price * SEHK (2019-05-21) in HKD HK$7.36
SEHK:1600 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.881 CN¥6.48
Hong Kong Gas Utilities Industry PB Ratio Median Figure of 14 Publicly-Listed Gas Utilities Companies 1.4x
Hong Kong Market PB Ratio Median Figure of 2,156 Publicly-Listed Companies 0.97x
SEHK:1600 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:1600 Share Price ÷ Book Value per Share (both in CNY)

= 6.48 ÷ 3.28

1.97x

* Primary Listing of China Tian Lun Gas Holdings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • China Tian Lun Gas Holdings is overvalued based on assets compared to the HK Gas Utilities industry average.
X
Value checks
We assess China Tian Lun Gas Holdings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check)
  5. China Tian Lun Gas Holdings has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

1600 Future Performance

 How is China Tian Lun Gas Holdings expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
27.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is China Tian Lun Gas Holdings expected to grow at an attractive rate?
  • China Tian Lun Gas Holdings's earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • China Tian Lun Gas Holdings's earnings growth is expected to exceed the Hong Kong market average.
  • China Tian Lun Gas Holdings's revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:1600 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:1600 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 27.6%
SEHK:1600 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 19.3%
Hong Kong Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 10.3%
Hong Kong Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 10.7%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average -5.7%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:1600 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:1600 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 9,128 1,476 1,371 6
2020-12-31 7,991 1,304 1,243 10
2019-12-31 6,353 1,218 890 9
SEHK:1600 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-12-31 5,113 463 569
2018-09-30 4,316 476 501
2018-06-30 3,518 488 433
2018-03-31 3,314 465 418
2017-12-31 3,109 442 404
2017-09-30 3,001 446 377
2017-06-30 2,894 450 349
2017-03-31 2,793 442 331
2016-12-31 2,693 434 313
2016-09-30 2,622 345 306
2016-06-30 2,551 256 298
2016-03-31 2,401 245 291

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • China Tian Lun Gas Holdings's earnings are expected to grow significantly at over 20% yearly.
  • China Tian Lun Gas Holdings's revenue is expected to grow by 19.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:1600 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from China Tian Lun Gas Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1600 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.38 1.86 1.14 6.00
2020-12-31 1.29 1.91 1.06 9.00
2019-12-31 0.90 0.97 0.69 8.00
SEHK:1600 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-12-31 0.58
2018-09-30 0.51
2018-06-30 0.44
2018-03-31 0.42
2017-12-31 0.41
2017-09-30 0.38
2017-06-30 0.35
2017-03-31 0.33
2016-12-31 0.31
2016-09-30 0.30
2016-06-30 0.29
2016-03-31 0.29

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • China Tian Lun Gas Holdings is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess China Tian Lun Gas Holdings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
China Tian Lun Gas Holdings has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

1600 Past Performance

  How has China Tian Lun Gas Holdings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare China Tian Lun Gas Holdings's growth in the last year to its industry (Gas Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • China Tian Lun Gas Holdings has delivered over 20% year on year earnings growth in the past 5 years.
  • China Tian Lun Gas Holdings's 1-year earnings growth exceeds its 5-year average (40.8% vs 20.8%)
  • China Tian Lun Gas Holdings's earnings growth has exceeded the HK Gas Utilities industry average in the past year (40.8% vs 10.7%).
Earnings and Revenue History
China Tian Lun Gas Holdings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from China Tian Lun Gas Holdings Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:1600 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 5,113.25 569.14 208.22
2018-09-30 4,315.63 500.94 192.03
2018-06-30 3,518.00 432.74 175.80
2018-03-31 3,313.51 418.50 169.64
2017-12-31 3,109.01 404.25 163.51
2017-09-30 3,001.29 376.68 156.72
2017-06-30 2,893.56 349.11 149.93
2017-03-31 2,793.33 331.25 145.34
2016-12-31 2,693.09 313.38 140.75
2016-09-30 2,622.06 305.89 138.69
2016-06-30 2,551.02 298.41 136.62
2016-03-31 2,401.49 291.32 134.64
2015-12-31 2,251.97 284.24 132.65
2015-09-30 2,005.99 269.03 121.92
2015-06-30 1,760.02 253.83 111.18
2015-03-31 1,551.98 236.99 105.72
2014-12-31 1,343.94 220.15 100.26
2014-09-30 1,215.64 209.82 95.89
2014-06-30 1,087.34 199.48 91.52
2014-03-31 999.64 184.21 85.21
2013-12-31 911.94 168.95 78.89
2013-09-30 851.62 159.00 73.26
2013-06-30 791.31 149.05 67.63
2013-03-31 753.84 142.07 67.83
2012-12-31 716.36 135.10 68.03
2012-09-30 651.72 113.22 71.04
2012-06-30 587.07 91.35 74.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • China Tian Lun Gas Holdings has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • China Tian Lun Gas Holdings used its assets more efficiently than the HK Gas Utilities industry average last year based on Return on Assets.
  • China Tian Lun Gas Holdings has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess China Tian Lun Gas Holdings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
China Tian Lun Gas Holdings has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

1600 Health

 How is China Tian Lun Gas Holdings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up China Tian Lun Gas Holdings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • China Tian Lun Gas Holdings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • China Tian Lun Gas Holdings's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of China Tian Lun Gas Holdings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from China Tian Lun Gas Holdings Company Filings, last reported 4 months ago.

SEHK:1600 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,543.77 5,430.24 1,080.91
2018-09-30 3,543.77 5,430.24 1,080.91
2018-06-30 3,329.95 5,222.17 1,761.48
2018-03-31 3,329.95 5,222.17 1,761.48
2017-12-31 3,117.80 3,879.32 678.24
2017-09-30 3,117.80 3,879.32 678.24
2017-06-30 2,949.81 3,834.42 977.42
2017-03-31 2,949.81 3,834.42 977.42
2016-12-31 2,751.71 3,600.64 757.39
2016-09-30 2,751.71 3,600.64 757.39
2016-06-30 2,763.30 4,176.95 1,437.32
2016-03-31 2,763.30 4,176.95 1,437.32
2015-12-31 2,782.38 2,748.80 612.39
2015-09-30 2,782.38 2,748.80 612.39
2015-06-30 2,616.42 2,377.90 770.79
2015-03-31 2,616.42 2,377.90 770.79
2014-12-31 1,476.97 1,397.23 265.58
2014-09-30 1,476.97 1,397.23 265.58
2014-06-30 1,287.71 1,312.95 324.69
2014-03-31 1,287.71 1,312.95 324.69
2013-12-31 1,091.03 1,010.52 576.40
2013-09-30 1,091.03 1,010.52 576.40
2013-06-30 975.85 635.82 261.86
2013-03-31 975.85 635.82 261.86
2012-12-31 896.27 805.73 368.94
2012-09-30 896.27 805.73 368.94
2012-06-30 849.82 714.55 554.39
  • China Tian Lun Gas Holdings's level of debt (153.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (92.7% vs 153.2% today).
  • Debt is not well covered by operating cash flow (8.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess China Tian Lun Gas Holdings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. China Tian Lun Gas Holdings has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

1600 Dividends

 What is China Tian Lun Gas Holdings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.37%
Current annual income from China Tian Lun Gas Holdings dividends. Estimated to be 4.87% next year.
If you bought HK$2,000 of China Tian Lun Gas Holdings shares you are expected to receive HK$47 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • China Tian Lun Gas Holdings's pays a higher dividend yield than the bottom 25% of dividend payers in Hong Kong (2.09%).
  • China Tian Lun Gas Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.75%).
Upcoming dividend payment

Purchase China Tian Lun Gas Holdings before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:1600 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Hong Kong Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 1.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 968 Stocks 3.6%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.2%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2.1%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:1600 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.40 4.00
2020-12-31 0.33 7.00
2019-12-31 0.24 6.00
SEHK:1600 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2019-04-16 0.154 2.259
2019-03-29 0.154 2.016
2018-07-05 0.102 1.556
2017-09-28 0.079 1.665
2017-08-31 0.076 1.628
2017-04-27 0.070 1.807
2017-03-30 0.073 1.539
2016-09-23 0.071 1.212
2016-08-31 0.071 1.202

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, China Tian Lun Gas Holdings has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but China Tian Lun Gas Holdings only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of China Tian Lun Gas Holdings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess China Tian Lun Gas Holdings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can China Tian Lun Gas Holdings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. China Tian Lun Gas Holdings has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

1600 Management

 What is the CEO of China Tian Lun Gas Holdings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Zhenyuan Xian
COMPENSATION CN¥515,000
AGE 43
TENURE AS CEO 4.3 years
CEO Bio

Mr. Xian Zhenyuan has been Chief Executive Officer of China Tian Lun Gas Holdings Limited since January 8, 2015. Mr. Xian has been the General Manager of China Tian Lun Gas Holdings Limited since 2010. Mr. Xian served as the Chief Financial Officer and General Manager at Henan Tian Lun Engineering Investment. He left Henan Tian Lun Engineering Investment in November 2009. Mr. Xian has been an Executive Director of China Tian Lun Gas Holdings Limited since October 13, 2010. He serves as a Director of Xuchang Tian Lun. He has been a director of Hebi Tian Lun since April 2004 and Shangjie Tian Lun since July 2007. He obtained a bachelor’s degree majoring in International Trade from Southeast University in July 1997 and obtained a master’s degree majoring in Accounting from Macquarie University in Australia in April 2003.

CEO Compensation
  • Zhenyuan's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Zhenyuan's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team Tenure

Average tenure and age of the China Tian Lun Gas Holdings management team in years:

3
Average Tenure
43.5
Average Age
  • The tenure for the China Tian Lun Gas Holdings management team is about average.
Management Team

Yingcen Zhang

TITLE
Founder & Chairman of the Board
COMPENSATION
CN¥540K
AGE
55

Zhenyuan Xian

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥515K
AGE
43
TENURE
4.3 yrs

Yi Feng

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥374K
AGE
39
TENURE
8.6 yrs

Tao Li

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥374K
AGE
46

Suwei Zhang

TITLE
GM & Executive Director
AGE
44
TENURE
1.2 yrs

Kevin Qian

TITLE
Chief Operating Officer
AGE
34

Dicson Hung

TITLE
Company Secretary
COMPENSATION
CN¥82K
AGE
43
TENURE
1.6 yrs

Chaoyang Xie

TITLE
General Manager of Baiyin Natural Gas Company Limited
COMPENSATION
CN¥122K
AGE
55
Board of Directors Tenure

Average tenure and age of the China Tian Lun Gas Holdings board of directors in years:

7
Average Tenure
47.5
Average Age
  • The tenure for the China Tian Lun Gas Holdings board of directors is about average.
Board of Directors

Yingcen Zhang

TITLE
Founder & Chairman of the Board
COMPENSATION
CN¥540K
AGE
55

Zhenyuan Xian

TITLE
CEO, GM & Executive Director
COMPENSATION
CN¥515K
AGE
43
TENURE
8.6 yrs

Yi Feng

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥374K
AGE
39
TENURE
8.6 yrs

Tao Li

TITLE
Deputy GM & Executive Director
COMPENSATION
CN¥374K
AGE
46
TENURE
7 yrs

Suwei Zhang

TITLE
GM & Executive Director
AGE
44
TENURE
1.2 yrs

Liuqing Li

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥60K
AGE
44
TENURE
8.6 yrs

Jun Zhao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥60K
AGE
55
TENURE
8.6 yrs

Michael Yeung

TITLE
Independent Non-Executive Director
AGE
63
TENURE
3.7 yrs

Jiansheng Wang

TITLE
Non-Executive Director
COMPENSATION
CN¥146K
AGE
62
TENURE
3.7 yrs

Jin Liu

TITLE
Independent Non-Executive Director
AGE
49
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
16. Apr 19 Sell IFC Asset Management Company, LLC Company 11. Apr 19 11. Apr 19 -324,750 HK$8.89 HK$-2,886,053
14. Aug 18 Buy Yuen Kim Koo Individual 13. Aug 18 13. Aug 18 984,000 HK$8.64 HK$8,501,759
X
Management checks
We assess China Tian Lun Gas Holdings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. China Tian Lun Gas Holdings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

1600 News

Simply Wall St News

China Tian Lun Gas Holdings Limited (HKG:1600) Earns Among The Best Returns In Its Industry

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for China Tian Lun Gas Holdings: 0.15 = CN¥1.2b ÷ (CN¥11b - CN¥3.5b) (Based on the trailing twelve months to December 2018.) Therefore, China Tian Lun Gas Holdings has an ROCE of 15%. … Do China Tian Lun Gas Holdings's Current Liabilities Skew Its ROCE? … China Tian Lun Gas Holdings has a medium level of current liabilities, which would boost the ROCE.

Simply Wall St -

How Does China Tian Lun Gas Holdings Limited (HKG:1600) Fare As A Dividend Stock?

Today we'll take a closer look at China Tian Lun Gas Holdings Limited (HKG:1600) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. Unfortunately, it's common for investors to be enticed in by the seemingly attractive yield, and lose money when the company has to cut its dividend payments. Some readers mightn't know much about China Tian Lun Gas Holdings's 2.3% dividend, as it has only been paying distributions for the last three years. Many of the best dividend stocks typically start out paying a low yield, so we wouldn't automatically cut it from our list of prospects. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. … China Tian Lun Gas Holdings is carrying net debt of 3.03 times its EBITDA, which is getting towards the upper limit of our comfort range on a dividend stock that the investor hopes will endure a wide range of economic circumstances. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see China Tian Lun Gas Holdings has grown its earnings per share at 23% per annum over the past five years. Earnings per share have rocketed in recent times, and we like that the company is retaining more than half of its earnings to reinvest. However, always remember that very few companies can grow at double digit rates forever. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

How Many China Tian Lun Gas Holdings Limited (HKG:1600) Shares Did Insiders Buy, In The Last Year?

So we'll take a look at whether insiders have been buying or selling shares in China Tian Lun Gas Holdings Limited (HKG:1600). … In the last twelve months, the biggest single purchase by an insider was when Yuen Kim Koo bought HK$8.5m worth of shares at a price of HK$8.64 per share. … That means that even when the share price was higher than HK$8.47 (the recent price), an insider wanted to purchase shares.

Simply Wall St -

A Look At China Tian Lun Gas Holdings Limited's (HKG:1600) Exceptional Fundamentals

I've been keeping an eye on China Tian Lun Gas Holdings Limited (HKG:1600) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe 1600 has a lot to offer.

Simply Wall St -

What Type Of Shareholder Owns China Tian Lun Gas Holdings Limited's (HKG:1600)?

Every investor in China Tian Lun Gas Holdings Limited (HKG:1600) should be aware of the most powerful shareholder groups. … China Tian Lun Gas Holdings isn't enormous, but it's not particularly small either. … Check out our latest analysis for China Tian Lun Gas Holdings

Simply Wall St -

China Tian Lun Gas Holdings Limited (HKG:1600): Poised For Long Term Success?

On 31 December 2018, China Tian Lun Gas Holdings Limited (HKG:1600) released its earnings update. … the consensus outlook from analysts appear highly confident, … with profits predicted to ramp up by an impressive 82% next year,

Simply Wall St -

Does Market Volatility Impact China Tian Lun Gas Holdings Limited's (HKG:1600) Share Price?

If you're interested in China Tian Lun Gas Holdings Limited (HKG:1600), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Investors Who Bought China Tian Lun Gas Holdings (HKG:1600) Shares A Year Ago Are Now Up 63%

To wit, the China Tian Lun Gas Holdings Limited (HKG:1600) share price is 63% higher than it was a year ago, much better than the market return of around -11% (not including dividends) in the same period. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … During the last year China Tian Lun Gas Holdings grew its earnings per share (EPS) by 24%.

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand China Tian Lun Gas Holdings Limited (HKG:1600)

To keep it practical, we'll show how China Tian Lun Gas Holdings Limited's (HKG:1600) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Price per Share (in the reporting currency) ÷ Earnings per Share (EPS) … P/E of 18.15 = CN¥7.94 (Note: this is the share price in the reporting currency, namely, CNY ) ÷ CN¥0.44

Simply Wall St -

Should You Worry About China Tian Lun Gas Holdings Limited's (HKG:1600) CEO Salary Level?

Zhenyuan Xian has been the CEO of China Tian Lun Gas Holdings Limited (HKG:1600) since 2015. … This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Zhenyuan Xian's Compensation Compare With Similar Sized Companies?

Simply Wall St -

1600 Company Info

Description

China Tian Lun Gas Holdings Limited, together with its subsidiaries, engages in the transportation, distribution, and sale of natural gas and compressed natural gas through its gas pipeline connections in the People’ Republic of China. The company provides construction, designing, laying, installation, and maintenance services for gas pipeline connections. It also constructs and operates gas filling stations; produces and sells liquefied natural gas in bulk and in cylinders; sells gas equipment; provides engineering design and consulting, and new energy technology development services; trades in natural gas equipment; and invests in equity and assets. The company serves residential customers, commercial and industrial customers, and urban gas distributors. It owns 51 gas refilling stations. The company was founded in 2002 and is headquartered in Zhengzhou, the People’s Republic of China. China Tian Lun Gas Holdings Limited is a subsidiary of Tian Lun Group Limited.

Details
Name: China Tian Lun Gas Holdings Limited
1600
Exchange: SEHK
Founded: 2002
HK$7,293,462,550
989,615,000
Website: http://www.tianlungas.com
Address: China Tian Lun Gas Holdings Limited
Tian Lun Group Building,
4th Floor,
Zhengzhou,
Henan Province, 450003,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 1600 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 10. Nov 2010
DB TLJ Ordinary Shares Deutsche Boerse AG DE EUR 10. Nov 2010
SZSC 1600 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 10. Nov 2010
Number of employees
Current staff
Staff numbers
2,843
China Tian Lun Gas Holdings employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 12:55
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/04/11
Last earnings filing: 2019/04/16
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.