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China Tian Lun Gas Holdings

SEHK:2987
Snowflake Description

Exceptional growth potential with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2987
SEHK
HK$6B
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 75 days ago. More info.


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2987 Share Price and Events
7 Day Returns
0%
SEHK:2987
1.3%
HK Gas Utilities
-1.6%
HK Market
1 Year Returns
-
SEHK:2987
12.3%
HK Gas Utilities
-10.2%
HK Market
2987 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
China Tian Lun Gas Holdings (2987) 0% - - - - -
HK Gas Utilities 1.3% 5% 1.2% 12.3% 55.8% 31.6%
HK Market -1.6% 1% -2.8% -10.2% 13.1% 1.3%
1 Year Return vs Industry and Market
  • No trading data on 2987.
  • No trading data on 2987.
Price Volatility
2987
Industry
5yr Volatility vs Market
Related Companies

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

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:2987 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.4%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2.2%

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:2987
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2.2%
Equity Risk Premium S&P Global 7.8%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.76
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.757 (1 + (1- 25%) (96.29%))
1.303
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.3
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.2% + (1.303 * 7.8%)
12.36%

Discounted Cash Flow Calculation for SEHK:2987 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 use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:2987 DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (CNY, Millions) 16.00 243.00 286.74 335.49 389.16
Source Analyst x1 Analyst x1 Est @ 18%, capped from 27.56% Est @ 17%, capped from 27.56% Est @ 16%, capped from 27.56%
Present Value
Discounted (@ 12.36%)
14.24 192.47 202.12 210.46 217.27
Present value of next 5 years cash flows CN¥836.56
SEHK:2987 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= CN¥389.16 × (1 + 2.2%) ÷ (12.36% – 2.2%)
CN¥3,914.43
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= CN¥3,914.43 ÷ (1 + 12.36%)5
CN¥2,185.43
SEHK:2987 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= CN¥836.56 + CN¥2,185.43
CN¥3,021.98
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥3,021.98 / 989.62
CN¥3.05
SEHK:2987 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:1600)
1.137
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥3.05 x 1.137
HK$3.47
Non-primary Listing Adjustment Factor 1 share in SEHK:2987 represents 1.15157x of SEHK:1600
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.15157x
Value per Share
(Listing Adjusted, HKD)
= Value per Share (HKD) x Listing Adjustment Factor
= HK$ 3.47 x 1.15157
HK$4.00
Value per share (HKD) From above. HK$4.00
Current discount Discount to share price of HK$6.99
= -1 x (HK$6.99 - HK$4.00) / HK$4.00
-74.9%

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

  • The current share price of China Tian Lun Gas Holdings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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:2987 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in CNY CN¥0.44
SEHK:1600 Share Price ** SEHK (2018-12-07) in HKD HK$6.07
SEHK:1600 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥5.34
Hong Kong Gas Utilities Industry PE Ratio Median Figure of 13 Publicly-Listed Gas Utilities Companies 16.36x
Hong Kong Market PE Ratio Median Figure of 1,457 Publicly-Listed Companies 10.59x

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

** Primary Listing of China Tian Lun Gas Holdings.

SEHK:2987 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 5.34 ÷ 0.44

12.21x

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:2987 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
46.1%per year
Hong Kong Gas Utilities Industry PEG Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 1.22x
Hong Kong Market PEG Ratio Median Figure of 458 Publicly-Listed Companies 0.7x

*Line of best fit is calculated by linear regression .

SEHK:2987 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.21x ÷ 46.1%

0.26x

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:2987 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in CNY CN¥3.00
SEHK:1600 Share Price * SEHK (2018-12-07) in HKD HK$6.07
SEHK:1600 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.88 CN¥5.34
Hong Kong Gas Utilities Industry PB Ratio Median Figure of 14 Publicly-Listed Gas Utilities Companies 1.77x
Hong Kong Market PB Ratio Median Figure of 2,086 Publicly-Listed Companies 0.94x
SEHK:2987 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 5.34 ÷ 3.00

1.78x

* 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 2/6, 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.

Future Performance

 How is China Tian Lun Gas Holdings expected to perform in the next 1 to 3 years based on estimates from 7 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
46.1%
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 2.2%.
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:2987 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2987 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 46.1%
SEHK:2987 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 30.5%
Hong Kong Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 11.5%
Hong Kong Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 12.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 12.4%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 11%

*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:2987 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2987 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 7,911 1,134 1,511 6
2019-12-31 6,289 1,118 1,096 7
2018-12-31 4,555 619 661 7
SEHK:2987 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
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
2015-12-31 2,252 234 284
2015-09-30 2,006 256 269

*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 significantly at over 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:2987 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from China Tian Lun Gas Holdings Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2987 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 1.52 1.89 1.13 5.00
2019-12-31 1.11 1.39 0.86 6.00
2018-12-31 0.67 0.71 0.57 6.00
SEHK:2987 Past Financials Data
Date (Data in CNY Millions) EPS *
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
2015-12-31 0.30
2015-09-30 0.30

*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 6/6, 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.

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's year on year earnings growth rate has been positive over the past 5 years.
  • China Tian Lun Gas Holdings's 1-year earnings growth exceeds its 5-year average (24% vs 19.7%)
  • China Tian Lun Gas Holdings's earnings growth has exceeded the HK Gas Utilities industry average in the past year (24% vs 14.2%).
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 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2987 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 3,518.00 432.74 175.80
2018-03-31 3,313.51 418.50 169.64
2017-12-31 3,109.01 404.25 163.47
2017-09-30 3,001.29 376.68 156.70
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
2012-03-31 519.00 87.04 65.02
2011-12-31 450.93 82.73 55.98

*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's use of capital deteriorated 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 4/6, 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.

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 0.6x 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 5 months ago.

SEHK:2987 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
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
2012-03-31 849.82 714.55 554.39
2011-12-31 784.22 470.75 372.76
  • China Tian Lun Gas Holdings's level of debt (156.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (65.5% vs 156.8% today).
  • Debt is not well covered by operating cash flow (9.4%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.2x 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.

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
1.91%
Current annual income from China Tian Lun Gas Holdings dividends. Estimated to be 5.24% next year.
If you bought HK$2,000 of China Tian Lun Gas Holdings shares you are expected to receive HK$38 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 lower dividend yield than the bottom 25% of dividend payers in Hong Kong (2.08%).
  • China Tian Lun Gas Holdings's dividend is below the markets top 25% of dividend payers in Hong Kong (5.85%).
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:2987 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 7 Analyst Estimates (S&P Global) See Below
Hong Kong Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 12 Stocks 1.8%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 917 Stocks 3.7%
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 5.9%

Industry and Market average data is calculated daily.

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

SEHK:2987 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.39 4.00
2019-12-31 0.30 5.00
2018-12-31 0.18 5.00
SEHK:2987 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-07-05 0.102 1.557
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 2 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 (5.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x 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 2/6, see the detailed checks below.


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

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 3.9 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.
  • 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:

2.5
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
3.9 yrs

Yi Feng

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

Tao Li

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

Suwei Zhang

TITLE
GM & Executive Director
AGE
44
TENURE
0.8 yrs

Kevin Qian

TITLE
Chief Operating Officer
AGE
34

Zhi Xue

TITLE
Deputy General Manager
AGE
54

Xincheng Li

TITLE
Deputy General Manager
AGE
37

Dicson Hung

TITLE
Secretary
COMPENSATION
CN¥82K
AGE
43
TENURE
1.2 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:

6.6
Average Tenure
47
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
8.2 yrs

Yi Feng

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

Tao Li

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

Suwei Zhang

TITLE
GM & Executive Director
AGE
44
TENURE
0.8 yrs

Liuqing Li

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

Jun Zhao

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

Michael Yeung

TITLE
Independent Non-Executive Director
AGE
63
TENURE
3.3 yrs

Jiansheng Wang

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

Jin Liu

TITLE
Independent Non-Executive Director
AGE
48
TENURE
0.6 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$) Value (HK$)
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.

News

External News
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Simply Wall St News

Company Info

Map
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 52 urban 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
2987
Exchange: SEHK
Founded: 2002
HK$6,165,301,450
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
SEHK 2987 HKD0.01 (PARALLEL 07/12/18) The Stock Exchange of Hong Kong Ltd. HK HKD 19. Nov 2018
Number of employees
Current staff
Staff numbers
2,728
China Tian Lun Gas Holdings employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/12/10 13:03
End of day share price update: 2018/12/07 00:00
Last estimates confirmation: 2018/11/26
Last earnings filing: 2018/09/26
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.