Reported Earnings • Jul 28
Full year 2026 earnings released: EPS: HK$0.50 (vs HK$0.60 in FY 2025) Full year 2026 results: EPS: HK$0.50 (down from HK$0.60 in FY 2025). Revenue: HK$73.6b (down 7.1% from FY 2025). Net income: HK$2.72b (down 16% from FY 2025). Profit margin: 3.7% (down from 4.1% in FY 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.3% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 11% per year. Declared Dividend • Jun 28
Final dividend of HK$0.20 announced Shareholders will receive a dividend of HK$0.20. Ex-date: 25th August 2026 Payment date: 2nd October 2026 Dividend yield will be 6.2%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (153% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 27
Full year 2026 earnings released: EPS: HK$0.50 (vs HK$0.60 in FY 2025) Full year 2026 results: EPS: HK$0.50 (down from HK$0.60 in FY 2025). Revenue: HK$73.6b (down 7.1% from FY 2025). Net income: HK$2.72b (down 16% from FY 2025). Profit margin: 3.7% (down from 4.1% in FY 2025). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 14% per year. Announcement • Jun 27
China Gas Holdings Limited, Annual General Meeting, Aug 21, 2026 China Gas Holdings Limited, Annual General Meeting, Aug 21, 2026. Announcement • Nov 28
China Gas Holdings Limited Announces Interim Cash Dividend for the Six Months Ended 30 September 2025, Payable on 6 February 2026 China Gas Holdings Limited announced Interim cash dividend of HKD 0.15 per share for the six months ended 30 September 2025, Ex-dividend date is 5 January 2026. Record date 9 January 2026. Payment date is 6 February 2026. Announcement • Nov 13
China Gas Holdings Limited to Report First Half, 2026 Results on Nov 28, 2025 China Gas Holdings Limited announced that they will report first half, 2026 results on Nov 28, 2025 Announcement • Aug 21
China Gas Holdings Limited Approves Final Dividend for the Financial Year Ended 31 March 2025 China Gas Holdings Limited announced that at the AGM held on August 21, 2025, approved a final dividend of 35 HK cents per share for the financial year ended 31 March 2025. Announcement • Jun 29
China Gas Holdings Limited Proposes Final Dividend for the Financial Year Ended 31 March 2025, Payable on 09 October 2025 China Gas Holdings Limited proposed a final dividend of HKD 0.35 per share for the financial year ended 31 March 2025. The dividend is classified as an ordinary dividend. The ex-dividend date is set for 25 August 2025, and shareholders must lodge transfer documents for registration by 16:30 on 26 August 2025 to determine their entitlement to the dividend. The book close period will be from 27 August 2025 to 29 August 2025, with the record date on 29 August 2025. The payment date for the dividend is scheduled for 09 October 2025. Announcement • Jun 27
China Gas Holdings Limited, Annual General Meeting, Aug 21, 2025 China Gas Holdings Limited, Annual General Meeting, Aug 21, 2025. Announcement • Jun 10
China Gas Holdings Limited to Report Fiscal Year 2025 Results on Jun 27, 2025 China Gas Holdings Limited announced that they will report fiscal year 2025 results on Jun 27, 2025 Announcement • Jan 06
China Gas Holdings Limited Announces Board and Committee Changes The board of directors of China Gas Holdings Limited announced that Mr. Jiang Xinhao has resigned as a non-executive director of the Company and the chairman of the Corporate Governance and Risk Control Committee, each with effect from 6 January 2025, due to his retirement. The Board further announces that following the resignation of Mr. Jiang, Ms. Chen Yanyan, an independent non-executive director and member of the CGRC Committee, has been appointed as the chairman of the CGRC Committee, with effect from 6 January 2025. Announcement • Nov 29
China Gas Holdings Limited Announces Interim Cash Dividend for the Six Months Ended 30 September 2024, Payable on 18 February 2025 China Gas Holdings Limited announced Interim cash dividend of HKD 0.15 per share for the six months ended 30 September 2024 Ex-dividend date is 06 January 2025. Record date 10 January 2025. Payment date is 18 February 2025. Announcement • Nov 11
China Gas Holdings Limited to Report Q2, 2025 Results on Nov 29, 2024 China Gas Holdings Limited announced that they will report Q2, 2025 results on Nov 29, 2024 Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$7.23, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 59% over the past three years. Announcement • Aug 21
China Gas Holdings Limited Approves Final Dividend China Gas Holdings Limited at its AGM held on August 21, 2024 approved final dividend of 35 HongKong cents per share, with an option for scrip dividend. Upcoming Dividend • Aug 16
Upcoming dividend of HK$0.35 per share Eligible shareholders must have bought the stock before 23 August 2024. Payment date: 04 October 2024. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 7.0%. Lower than top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (5.2%). Reported Earnings • Jul 27
Full year 2024 earnings released: EPS: HK$0.59 (vs HK$0.80 in FY 2023) Full year 2024 results: EPS: HK$0.59 (down from HK$0.80 in FY 2023). Revenue: HK$81.4b (down 12% from FY 2023). Net income: HK$3.18b (down 26% from FY 2023). Profit margin: 3.9% (down from 4.7% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Declared Dividend • Jun 27
Final dividend reduced to HK$0.35 Dividend of HK$0.35 is 13% lower than last year. Ex-date: 23rd August 2024 Payment date: 4th October 2024 Dividend yield will be 7.1%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 25
China Gas Holdings Limited, Annual General Meeting, Aug 21, 2024 China Gas Holdings Limited, Annual General Meeting, Aug 21, 2024. Reported Earnings • Jun 25
Full year 2024 earnings released: EPS: HK$0.59 (vs HK$0.80 in FY 2023) Full year 2024 results: EPS: HK$0.59 (down from HK$0.80 in FY 2023). Revenue: HK$81.4b (down 12% from FY 2023). Net income: HK$3.18b (down 26% from FY 2023). Profit margin: 3.9% (down from 4.7% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Announcement • Jun 24
China Gas Holdings Limited Proposes Final Dividend for the Year Ended 31 March 2024, Payable on 4 October 2024 China Gas Holdings Limited proposed final dividend for the year ended 31 March 2024 of HKD 0.35 per share. Ex-dividend date: 23 August 2024. Record date: 29 August 2024. Payment date: 4 October 2024. Date of shareholders' approval: 21 August 2024. Announcement • Jun 13
China Gas Holdings Limited to Report Fiscal Year 2024 Results on Jun 24, 2024 China Gas Holdings Limited announced that they will report fiscal year 2024 results on Jun 24, 2024 Upcoming Dividend • Dec 28
Upcoming dividend of HK$0.15 per share at 7.3% yield Eligible shareholders must have bought the stock before 04 January 2024. Payment date: 02 February 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.3%. Lower than top quartile of Hong Kong dividend payers (8.5%). Higher than average of industry peers (5.6%). Announcement • Dec 01
China Gas Holdings Limited Announces Board Changes The board of directors of China Gas Holdings Limited announced that Mr. Ayush Gupta has been appointed as a non-executive Director of the Company and a member of the Corporate Governance and Risk Control Committee with effect from 1 December 2023. Mr. Ayush Gupta, aged 52, is a director of GAIL (India) Limited, which is a company listed on the National Stock Exchange (NSE) of India Limited, since August 2022. He is also the chairman of GAIL Mangalore Petrochemicals Ltd. since November 2023 and a director in GAIL Gas Limited since July 2022, both being wholly-owned subsidiaries of GAIL (India) Limited. He has also served as a director of ONGC Tripura Power Company Ltd. since November 2023. Mr. Gupta received a Bachelor's degree in Electrical Engineering in 1993 from University of Roorkee India, a Master's degree in Business Administration in 2003 and a post-graduate diploma in Human Resource Management in 2023 both from Indira Gandhi National Open University. He has also completed The Chevening Rolls-Royce Science, Innovation & Policy Leadership Programme from Saïd Business School of University of Oxford in 2013. Mr. Gupta will serve as a member of the Corporate Governance and Risk Control Committee effective upon his appointment as a non-executive Director of the Company. He is entitled to an annual fee of HKD 66,000 for being a member of the Committee. The Board announces that Mr. Mahesh Vishwanathan Iyer (Mr. Iyer) has resigned as a non-executive Director of the Company and a member of the Corporate Governance and Risk Control Committee, each with effect from 1 December 2023, due to his retirement. Recent Insider Transactions • Nov 30
Executive Chairman recently bought HK$4.9m worth of stock On the 28th of November, Ming Hui Liu bought around 700k shares on-market at roughly HK$7.02 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ming Hui has been a buyer over the last 12 months, purchasing a net total of HK$16m worth in shares. Announcement • Nov 30
China Gas Holdings Limited Announces an Interim Dividend for the Six-Month Ended 30 September 2023, Payable on 2 February 2024 China Gas Holdings Limited announced an interim dividend of HKD 0.15 per share for the six-month ended 30 September 2023. Ex-dividend date is 4 January 2024. Record date is 10 January 2024. Payment date is 2 February 2024. Reported Earnings • Nov 29
First half 2024 earnings released: EPS: HK$0.34 (vs HK$0.60 in 1H 2023) First half 2024 results: EPS: HK$0.34 (down from HK$0.60 in 1H 2023). Revenue: HK$36.0b (down 16% from 1H 2023). Net income: HK$1.83b (down 44% from 1H 2023). Profit margin: 5.1% (down from 7.6% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 36% per year whereas the company’s share price has fallen by 37% per year. Announcement • Nov 14
China Gas Holdings Limited to Report First Half, 2024 Results on Nov 27, 2023 China Gas Holdings Limited announced that they will report first half, 2024 results on Nov 27, 2023 Announcement • Aug 24
China Gas Holdings Limited Approves Final Dividend for the Year Ended 31 March 2023 China Gas Holdings Limited approved final dividend of 40 HK cents per share for the year ended 31 March 2023. Upcoming Dividend • Aug 18
Upcoming dividend of HK$0.40 per share at 6.0% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (4.9%). Reported Earnings • Jun 27
Full year 2023 earnings released: EPS: HK$0.80 (vs HK$1.39 in FY 2022) Full year 2023 results: EPS: HK$0.80 (down from HK$1.39 in FY 2022). Revenue: HK$92.0b (up 4.3% from FY 2022). Net income: HK$4.29b (down 44% from FY 2022). Profit margin: 4.7% (down from 8.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 26% per year. Announcement • Jun 10
China Gas Holdings Limited to Report Fiscal Year 2023 Results on Jun 26, 2023 China Gas Holdings Limited announced that they will report fiscal year 2023 results on Jun 26, 2023 Recent Insider Transactions • Jan 30
Executive Chairman recently bought HK$5.0m worth of stock On the 26th of January, Ming Hui Liu bought around 400k shares on-market at roughly HK$12.46 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ming Hui's only on-market trade for the last 12 months. Upcoming Dividend • Dec 29
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 05 January 2023. Payment date: 03 February 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Hong Kong dividend payers (8.4%). Higher than average of industry peers (4.0%). Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 17% share price gain to HK$11.32, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 59% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$21.89 per share. Reported Earnings • Nov 26
First half 2023 earnings released: EPS: HK$0.60 (vs HK$0.74 in 1H 2022) First half 2023 results: EPS: HK$0.60 (down from HK$0.74 in 1H 2022). Revenue: HK$43.0b (up 10% from 1H 2022). Net income: HK$3.26b (down 21% from 1H 2022). Profit margin: 7.6% (down from 11% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 33% per year, which means it is performing significantly worse than earnings. Upcoming Dividend • Aug 16
Upcoming dividend of HK$0.45 per share Eligible shareholders must have bought the stock before 23 August 2022. Payment date: 03 October 2022. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 4.6%. Lower than top quartile of Hong Kong dividend payers (8.3%). Higher than average of industry peers (3.7%). Reported Earnings • Jun 26
Full year 2022 earnings released: EPS: HK$1.39 (vs HK$2.01 in FY 2021) Full year 2022 results: EPS: HK$1.39 (down from HK$2.01 in FY 2021). Revenue: HK$88.2b (up 26% from FY 2021). Net income: HK$7.66b (down 27% from FY 2021). Profit margin: 8.7% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 11%, compared to a 11% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 26% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to HK$9.97, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 7x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 62% over the past three years. Upcoming Dividend • Dec 30
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 06 January 2022. Payment date: 28 January 2022. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.4%. Lower than top quartile of Hong Kong dividend payers (7.2%). Higher than average of industry peers (2.6%). Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 19% share price decline to HK$14.24, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 8x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 43% over the past three years. Reported Earnings • Dec 01
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: HK$0.74 (down from HK$0.97 in 1H 2021). Revenue: HK$38.9b (up 43% from 1H 2021). Net income: HK$4.11b (down 19% from 1H 2021). Profit margin: 11% (down from 19% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.6%. Over the next year, revenue is forecast to grow 8.1%, compared to a 11% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Upcoming Dividend • Aug 16
Upcoming dividend of HK$0.45 per share Eligible shareholders must have bought the stock before 23 August 2021. Payment date: 30 September 2021. Trailing yield: 2.2%. Lower than top quartile of Hong Kong dividend payers (6.4%). In line with average of industry peers (2.3%). Reported Earnings • Jun 30
Full year 2021 earnings released: EPS HK$2.01 (vs HK$1.76 in FY 2020) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2021 results: Revenue: HK$70.0b (up 18% from FY 2020). Net income: HK$10.5b (up 14% from FY 2020). Profit margin: 15% (in line with FY 2020). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment deteriorated over the past week After last week's 21% share price decline to HK$23.50, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$27.50, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 10x in the Gas Utilities industry in Hong Kong. Total returns to shareholders of 2.2% over the past three years. Is New 90 Day High Low • Jan 11
New 90-day high: HK$31.05 The company is up 36% from its price of HK$22.85 on 14 October 2020. The Hong Kong market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 23% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$46.28 per share. Upcoming Dividend • Dec 31
Upcoming Dividend of HK$0.10 Per Share Will be paid on the 29th of January to those who are registered shareholders by the 7th of January. The trailing yield of 1.6% is below the top quartile of Hong Kong dividend payers (6.7%), and is lower than industry peers (2.4%). Is New 90 Day High Low • Dec 24
New 90-day high: HK$29.75 The company is up 37% from its price of HK$21.65 on 25 September 2020. The Hong Kong market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 18% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$46.28 per share. Reported Earnings • Dec 18
First half 2021 earnings released: EPS HK$0.97 The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: HK$27.2b (down 2.7% from 1H 2020). Net income: HK$5.09b (up 3.7% from 1H 2020). Profit margin: 19% (up from 18% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 10% per year. Analyst Estimate Surprise Post Earnings • Dec 18
Revenue misses expectations Revenue missed analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 19%, compared to a 14% growth forecast for the Gas Utilities industry in Hong Kong. Is New 90 Day High Low • Dec 09
New 90-day high: HK$29.15 The company is up 32% from its price of HK$22.05 on 11 September 2020. The Hong Kong market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$39.58 per share. Reported Earnings • Nov 29
First half 2021 earnings released: EPS HK$0.97 The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: HK$27.2b (down 2.7% from 1H 2020). Net income: HK$5.09b (up 3.7% from 1H 2020). Profit margin: 19% (up from 18% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Nov 29
Revenue misses expectations Revenue missed analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 22%, compared to a 15% growth forecast for the Gas Utilities industry in Hong Kong. Is New 90 Day High Low • Nov 05
New 90-day high: HK$25.95 The company is up 14% from its price of HK$22.80 on 07 August 2020. The Hong Kong market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$39.86 per share. Is New 90 Day High Low • Oct 21
New 90-day high: HK$24.30 The company is up 3.0% from its price of HK$23.50 on 23 July 2020. The Hong Kong market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Gas Utilities industry, which is down 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is HK$39.78 per share. 
