Executive Summary
China Gas Holdings Limited, an investment holding company, operates as a gas operator and service provider in the People’s Republic of China and Hong Kong. More Details
Rewards
Risk Analysis
Snowflake Analysis
Solid track record established dividend payer.
Share Price & News
How has China Gas Holdings's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: 384's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
1.9%
384
-2.0%
HK Gas Utilities
-1.0%
HK Market
1 Year Return
-26.2%
384
-20.1%
HK Gas Utilities
0.4%
HK Market
Return vs Industry: 384 underperformed the Hong Kong Gas Utilities industry which returned -20.1% over the past year.
Return vs Market: 384 underperformed the Hong Kong Market which returned 0.4% over the past year.
Shareholder returns
| 384 | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.9% | -2.0% | -1.0% |
| 30 Day | -4.8% | -4.4% | -3.2% |
| 90 Day | -20.9% | -11.1% | 1.4% |
| 1 Year | -24.7%-26.2% | -17.8%-20.1% | 4.5%0.4% |
| 3 Year | 0.01%-4.8% | 7.4%0.2% | -3.9%-14.2% |
| 5 Year | 124.2%106.8% | 46.3%30.9% | 22.7%2.0% |
Price Volatility Vs. Market
How volatile is China Gas Holdings's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
China Gas Holdings Limited's (HKG:384) Intrinsic Value Is Potentially 28% Above Its Share Price2 weeks ago | Simply Wall St
Trade Alert: The Executive Chairman Of China Gas Holdings Limited (HKG:384), Ming Hui Liu, Has Just Spent HK$9.4m Buying A Few More Shares4 weeks ago | Simply Wall St
Does China Gas Holdings (HKG:384) Have A Healthy Balance Sheet?Valuation
Is China Gas Holdings undervalued compared to its fair value and its price relative to the market?
22.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: 384 (HK$21.8) is trading below our estimate of fair value (HK$28.13)
Significantly Below Fair Value: 384 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: 384 is poor value based on its PE Ratio (12.4x) compared to the HK Gas Utilities industry average (12.3x).
PE vs Market: 384 is poor value based on its PE Ratio (12.4x) compared to the Hong Kong market (11.1x).
Price to Earnings Growth Ratio
PEG Ratio: 384 is poor value based on its PEG Ratio (1x)
Price to Book Ratio
PB vs Industry: 384 is overvalued based on its PB Ratio (2.9x) compared to the HK Gas Utilities industry average (1.2x).
Next Steps
Future Growth
How is China Gas Holdings forecast to perform in the next 1 to 3 years based on estimates from 20 analysts?
12.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: 384's forecast earnings growth (12.4% per year) is above the savings rate (1.6%).
Earnings vs Market: 384's earnings (12.4% per year) are forecast to grow slower than the Hong Kong market (22.4% per year).
High Growth Earnings: 384's earnings are forecast to grow, but not significantly.
Revenue vs Market: 384's revenue (11.5% per year) is forecast to grow slower than the Hong Kong market (13.1% per year).
High Growth Revenue: 384's revenue (11.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: 384's Return on Equity is forecast to be high in 3 years time (22%)
Next Steps
Past Performance
How has China Gas Holdings performed over the past 5 years?
27.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: 384 has high quality earnings.
Growing Profit Margin: 384's current net profit margins (15.4%) are higher than last year (13.9%).
Past Earnings Growth Analysis
Earnings Trend: 384's earnings have grown significantly by 27.7% per year over the past 5 years.
Accelerating Growth: 384's earnings growth over the past year (11.7%) is below its 5-year average (27.7% per year).
Earnings vs Industry: 384 earnings growth over the past year (11.7%) exceeded the Gas Utilities industry -0.2%.
Return on Equity
High ROE: 384's Return on Equity (22.4%) is considered high.
Next Steps
Financial Health
How is China Gas Holdings's financial position?
Financial Position Analysis
Short Term Liabilities: 384's short term assets (HK$39.5B) do not cover its short term liabilities (HK$49.3B).
Long Term Liabilities: 384's short term assets (HK$39.5B) exceed its long term liabilities (HK$16.9B).
Debt to Equity History and Analysis
Debt Level: 384's debt to equity ratio (86.8%) is considered high.
Reducing Debt: 384's debt to equity ratio has reduced from 96.9% to 86.8% over the past 5 years.
Debt Coverage: 384's debt is not well covered by operating cash flow (16.3%).
Interest Coverage: 384's interest payments on its debt are well covered by EBIT (10.3x coverage).
Balance Sheet
Next Steps
Dividend
What is China Gas Holdings's current dividend yield, its reliability and sustainability?
2.29%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: 384's dividend (2.29%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.24%).
High Dividend: 384's dividend (2.29%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.92%).
Stability and Growth of Payments
Stable Dividend: 384's dividends per share have been stable in the past 10 years.
Growing Dividend: 384's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (28.4%), 384's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: 384's dividends in 3 years are forecast to be well covered by earnings (27.9% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.7yrs
Average management tenure
CEO
Ming Hui Liu (57 yo)
8yrs
Tenure
HK$18,674,000
Compensation
Mr. Ming Hui Liu serves as the Managing Director of China Gas Holdings Limited. Mr. Liu served as the President of China Gas Holdings Ltd. He served as the Managing Director of China Gas Holdings Ltd. from ...
CEO Compensation Analysis
Compensation vs Market: Ming Hui's total compensation ($USD2.41M) is above average for companies of similar size in the Hong Kong market ($USD805.77K).
Compensation vs Earnings: Ming Hui's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 8yrs | HK$18.67m | 6.44% HK$ 7.3b | |
| Executive President & Executive Director | 7.25yrs | HK$17.27m | 3.24% HK$ 3.7b | |
| Managing VP | 18yrs | HK$7.32m | 0.12% HK$ 130.8m | |
| Executive Director | 6.67yrs | HK$1.69m | 0.038% HK$ 43.6m | |
| VP, Deputy GM of Capital Management Centre & Executive Director | 0.42yr | HK$2.12m | no data | |
| Group General Counsel & Company Secretary | 5.33yrs | no data | no data |
6.7yrs
Average Tenure
57yo
Average Age
Experienced Management: 384's management team is seasoned and experienced (6.7 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Executive Chairman | 8yrs | HK$18.67m | 6.44% HK$ 7.3b | |
| Executive President & Executive Director | 7.25yrs | HK$17.27m | 3.24% HK$ 3.7b | |
| Managing VP | 18yrs | HK$7.32m | 0.12% HK$ 130.8m | |
| Executive Director | 6.67yrs | HK$1.69m | 0.038% HK$ 43.6m | |
| VP, Deputy GM of Capital Management Centre & Executive Director | 0.42yr | HK$2.12m | no data | |
| Independent Non-Executive Director | 17.83yrs | HK$891.00k | 0.046% HK$ 52.3m | |
| Independent Non-Executive Director | 17.67yrs | HK$891.00k | 0.042% HK$ 48.0m | |
| Non-Executive Director | 5.25yrs | no data | no data | |
| Independent Non-Executive Director | 2.83yrs | HK$594.00k | no data | |
| Independent Non-Executive Director | 7.75yrs | HK$792.00k | no data | |
| Non-Executive Director | 2.17yrs | HK$495.00k | no data | |
| Non-Executive Director | 6.17yrs | HK$495.00k | 0.015% HK$ 17.4m |
7.0yrs
Average Tenure
57yo
Average Age
Experienced Board: 384's board of directors are considered experienced (7 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: 384 insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
China Gas Holdings Limited's company bio, employee growth, exchange listings and data sources
Key Information
- Name: China Gas Holdings Limited
- Ticker: 384
- Exchange: SEHK
- Founded: 1995
- Industry: Gas Utilities
- Sector: Utilities
- Market Cap: HK$113.681b
- Shares outstanding: 5.21b
- Website: https://www.chinagasholdings.com.hk
Number of Employees
Location
- China Gas Holdings Limited
- Capital Centre
- 16th Floor
- Wan Chai
- Hong Kong
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| 384 | SEHK (The Stock Exchange of Hong Kong Ltd.) | Yes | Ordinary Shares | HK | HKD | Jan 1996 |
| EBZ | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1996 |
| CGHO.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1996 |
| 384 | SHSC (Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Jan 1996 |
| 384 | SZSC (The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect) | Yes | Ordinary Shares | HK | HKD | Jan 1996 |
| CGHL.Y | OTCPK (Pink Sheets LLC) | UNSPONSORED ADR | US | USD | Jun 2012 |
Biography
China Gas Holdings Limited, an investment holding company, operates as a gas operator and service provider in the People’s Republic of China and Hong Kong. The company invests in, constructs, operates, and ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/09/22 19:30 |
| End of Day Share Price | 2020/09/22 00:00 |
| Earnings | 2020/03/31 |
| Annual Earnings | 2020/03/31 |
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.