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384

China Gas HoldingsSEHK:384 Stock Report

Market Cap

HK$106.6b

7D

-8.3%

1Y

-20.9%

Updated

25 Oct, 2021

Data

Company Financials +
384 fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance2/6
Financial Health4/6
Dividends5/6

384 Overview

China Gas Holdings Limited operates as a gas operator and service provider in the People’s Republic of China.

Price History & Performance

Summary of all time highs, changes and price drops for China Gas Holdings
Historical stock prices
Current Share PriceHK$19.26
52 Week HighHK$18.88
52 Week LowHK$35.00
Beta0.31
1 Month Change-10.00%
3 Month Change-16.98%
1 Year Change-20.90%
3 Year Change-21.39%
5 Year Change60.50%
Change since IPO2,307.50%

Recent News & Updates

Aug 19
China Gas Holdings (HKG:384) Is Increasing Its Dividend To HK$0.45

China Gas Holdings (HKG:384) Is Increasing Its Dividend To HK$0.45

China Gas Holdings Limited ( HKG:384 ) has announced that it will be increasing its dividend on the 30th of September...

Aug 11
Increases to China Gas Holdings Limited's (HKG:384) CEO Compensation Might Cool off for now

Increases to China Gas Holdings Limited's (HKG:384) CEO Compensation Might Cool off for now

In the past three years, shareholders of China Gas Holdings Limited ( HKG:384 ) have seen a loss on their investment...

Aug 09
If You Like EPS Growth Then Check Out China Gas Holdings (HKG:384) Before It's Too Late

If You Like EPS Growth Then Check Out China Gas Holdings (HKG:384) Before It's Too Late

Like a puppy chasing its tail, some new investors often chase 'the next big thing', even if that means buying 'story...

Jul 22
We Think You Should Be Aware Of Some Concerning Factors In China Gas Holdings' (HKG:384) Earnings

We Think You Should Be Aware Of Some Concerning Factors In China Gas Holdings' (HKG:384) Earnings

China Gas Holdings Limited's ( HKG:384 ) robust recent earnings didn't do much to move the stock. However the statutory...

Jul 16
China Gas Holdings (HKG:384) Will Pay A Larger Dividend Than Last Year At HK$0.45

China Gas Holdings (HKG:384) Will Pay A Larger Dividend Than Last Year At HK$0.45

China Gas Holdings Limited ( HKG:384 ) will increase its dividend on the 30th of September to HK$0.45. This takes the...

Shareholder Returns

384HK Gas UtilitiesHK Market
7D-8.3%0.5%0.4%
1Y-20.9%10.2%6.7%

Return vs Industry: 384 underperformed the Hong Kong Gas Utilities industry which returned 8.6% over the past year.

Return vs Market: 384 underperformed the Hong Kong Market which returned 5.9% over the past year.

Price Volatility

Is 384's price volatile compared to industry and market?
384 volatility
384 Beta0.31
Industry Beta0.55
Market Beta1

Stable Share Price: 384 is less volatile than 75% of Hong Kong stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: 384's weekly volatility (5%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
199559,462Ming Hui Liuhttps://www.chinagasholdings.com.hk

China Gas Holdings Limited operates as a gas operator and service provider in the People’s Republic of China. The company invests in, constructs, operates, and maintains city and town gas pipeline infrastructure facilities, gas terminals, storage and transportation facilities, and gas logistics systems; transmits natural gas and liquefied petroleum gas (LPG) to residential, industrial, and commercial customers; constructs and operates compressed natural gas/liquefied natural gas refilling stations; and develops and applies technologies related to natural gas and LPG. It is also involved in the investment in petrochemical facilities of storage and transportation, and fundamental facilities of pier; producing and storing LPG and chemical products, as well as propane and butane; CBM business; exploration and production of coal bed methane; and gas station administration, management, and consultancy services.

China Gas Holdings Fundamentals Summary

How do China Gas Holdings's earnings and revenue compare to its market cap?
384 fundamental statistics
Market CapHK$106.64b
Earnings (TTM)HK$10.48b
Revenue (TTM)HK$69.98b

10.2x

P/E Ratio

1.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
384 income statement (TTM)
RevenueHK$69.98b
Cost of RevenueHK$51.87b
Gross ProfitHK$18.10b
ExpensesHK$7.62b
EarningsHK$10.48b

Last Reported Earnings

Mar 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.89
Gross Margin25.87%
Net Profit Margin14.97%
Debt/Equity Ratio81.8%

How did 384 perform over the long term?

See historical performance and comparison

Dividends

2.9%

Current Dividend Yield

27%

Payout Ratio

Valuation

Is China Gas Holdings undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 384 (HK$19.26) is trading below our estimate of fair value (HK$73.06)

Significantly Below Fair Value: 384 is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 384's PE Ratio (10.2x) is in line with the Hong Kong Gas Utilities industry average.

PE vs Market: 384 is poor value based on its PE Ratio (10.2x) compared to the Hong Kong market (9.7x).


Price to Earnings Growth Ratio

PEG Ratio: 384 is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: 384 is overvalued based on its PB Ratio (2.1x) compared to the HK Gas Utilities industry average (1.2x).


Future Growth

How is China Gas Holdings forecast to perform in the next 1 to 3 years based on estimates from 22 analysts?

12.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 384's forecast earnings growth (12.1% per year) is above the savings rate (1.5%).

Earnings vs Market: 384's earnings (12.1% per year) are forecast to grow slower than the Hong Kong market (17.7% per year).

High Growth Earnings: 384's earnings are forecast to grow, but not significantly.

Revenue vs Market: 384's revenue (12.5% per year) is forecast to grow faster than the Hong Kong market (12.5% per year).

High Growth Revenue: 384's revenue (12.5% 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 low in 3 years time (17.8%).


Past Performance

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

24.6%

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%) are lower than last year (15.4%).


Past Earnings Growth Analysis

Earnings Trend: 384's earnings have grown significantly by 24.6% per year over the past 5 years.

Accelerating Growth: 384's earnings growth over the past year (14%) is below its 5-year average (24.6% per year).

Earnings vs Industry: 384 earnings growth over the past year (14%) underperformed the Gas Utilities industry 43.6%.


Return on Equity

High ROE: 384's Return on Equity (19.5%) is considered low.


Financial Health

How is China Gas Holdings's financial position?


Financial Position Analysis

Short Term Liabilities: 384's short term assets (HK$50.4B) exceed its short term liabilities (HK$46.3B).

Long Term Liabilities: 384's short term assets (HK$50.4B) exceed its long term liabilities (HK$34.5B).


Debt to Equity History and Analysis

Debt Level: 384's debt to equity ratio (81.8%) is considered high.

Reducing Debt: 384's debt to equity ratio has reduced from 106.5% to 81.8% over the past 5 years.

Debt Coverage: 384's debt is not well covered by operating cash flow (16.9%).

Interest Coverage: 384's interest payments on its debt are well covered by EBIT (10.2x coverage).


Balance Sheet


Dividend

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

2.86%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 384's dividend (2.86%) is higher than the bottom 25% of dividend payers in the Hong Kong market (2.22%).

High Dividend: 384's dividend (2.86%) is low compared to the top 25% of dividend payers in the Hong Kong market (6.77%).


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 (27.4%), 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 (30% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.8yrs

Average management tenure


CEO

Ming Hui Liu (58 yo)

9.17yrs

Tenure

HK$18,200,000

Compensation

Mr. Ming Hui Liu serves as the Managing Director and President of China Gas Holdings Limited since August 2012. He served as the Managing Director of China Gas Holdings Ltd. from July 2002 to January 25, 2...


CEO Compensation Analysis

Compensation vs Market: Ming Hui's total compensation ($USD2.34M) is above average for companies of similar size in the Hong Kong market ($USD1.05M).

Compensation vs Earnings: Ming Hui's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: 384's management team is seasoned and experienced (7.8 years average tenure).


Board Members

Experienced Board: 384's board of directors are considered experienced (8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.2%.


Top Shareholders

Company Information

China Gas Holdings Limited's 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$106.642b
  • Shares outstanding: 5.54b
  • Website: https://www.chinagasholdings.com.hk

Number of Employees


Location

  • China Gas Holdings Limited
  • Capital Centre
  • 16th Floor
  • Wan Chai
  • Hong Kong

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/25 16:41
End of Day Share Price2021/10/25 00:00
Earnings2021/03/31
Annual Earnings2021/03/31


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.