Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. China Gas Holdings Limited
  6. News
  7. Summary
    384   BMG2109G1033

CHINA GAS HOLDINGS LIMITED

(384)
  Report
Delayed Hong Kong Stock Exchange  -  10:43:11 2023-01-26 pm EST
12.82 HKD   +1.91%
01/12Bain Capital Invests $400.0 Million in Towngas-Backed Biorefinery EcoCeres
DJ
01/11Bain Capital buys stake in biomass firm for $400 million
RE
01/11Bain Capital buys stake in biofuel firm for $400 mln
RE
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Chinese Utilities Shares Rise on Easing Lockdowns, PMI Data Beat

05/31/2022 | 01:50am EST

By Yongchang Chin


Shares of Chinese utilities Tuesday posted some of their most significant gains this month on expectations that the easing of Covid-19 restrictions could further boost China's economic activity, which appears to be on the mend.

Hong Kong-listed China Gas Holdings Ltd. gained as much as 5.1% and was last up 4.2% at 11.48 Hong Kong dollars (US$1.46). Shanghai-listed ENN Natural Gas Co. added 3.7% to 17.84 yuan (US$2.68).

China Resources Power Holdings Co. Ltd. gained 7.0% to HK$15.2, Huaneng Power International Inc. rose 6.8% to HK$3.92 and China Power International Development Ltd. added 8.0% to HK$3.91.

Shares of these utilities have been hurt this year as China's zero-Covid policy crimped demand, with year-to-date losses standing between 25%-40% among the companies.

Sentiment was also lifted by China's May official manufacturing PMI that came in at 49.6, higher than the 48.9 level expected and more than the 47.4 recorded in April.

More cities across the country emerged from lockdowns and officials announced measures to boost the sluggish economy, feeding the demand for electricity and natural gas. Shanghai has allowed manufacturers to resume operations from June 1, while officials have said that Beijing's Covid-19 outbreak is under control, ANZ analysts said in a note.

Citigroup analysts said the outlook for natural gas utilities was now brighter. China's sequential weekly gas use dropped last week but at a smaller pace, a sign that the worst of the lockdowns may be over, they said.

China Resources Gas' sales improved in May, while gas-sales margins in April grew on lower unit gas import costs and more gas being sold to commercial and industrial customers, which have higher sales margins, the analysts said.

Higher gas sales margins may be sustainable given that gas retail prices are expected to remain elevated even during the nonpeak months of April to October, they added.


Write to Yongchang Chin at yongchang.chin@wsj.com


(END) Dow Jones Newswires

05-31-22 0149ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA GAS HOLDINGS LIMITED 1.91% 12.82 Delayed Quote.6.34%
CHINA POWER INTERNATIONAL DEVELOPMENT LIMITED -1.43% 3.45 Delayed Quote.7.58%
CHINA RESOURCES POWER HOLDINGS COMPANY LIMITED -0.71% 16.74 Delayed Quote.5.64%
CITIGROUP INC. 0.56% 52.19 Delayed Quote.14.75%
ENN NATURAL GAS CO., LTD. 1.27% 18.37 End-of-day quote.14.10%
HUANENG POWER INTERNATIONAL, INC. -0.80% 3.74 Delayed Quote.2.17%
S&P GSCI NATURAL GAS INDEX 0.21% 133.7204 Real-time Quote.-34.86%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.16% 6.74608 Delayed Quote.-2.22%
All news about CHINA GAS HOLDINGS LIMITED
01/12Bain Capital Invests $400.0 Million in Towngas-Backed Biorefinery EcoCeres
DJ
01/11Bain Capital buys stake in biomass firm for $400 million
RE
01/11Bain Capital buys stake in biofuel firm for $400 mln
RE
01/05CHINA GAS HOLDINGS LIMITED : Ex-dividend day for interim divi..
FA
2022China Gas Unit to Inject 82.9 Million Yuan Into Oxygen Production Unit
MT
2022China Gas Holdings Limited(SEHK:384) dropped from Hang S..
CI
2022Recon Technology Says Nanjing Recon Wins Contract for China Gas Generation Plant; Share..
MT
2022China Gas Sees 21% Fiscal H1 Profit Drop Despite Rise in Revenue
MT
2022China Gas Holdings Limited Announces Interim Dividend for the Six-Month Period Ended 30..
CI
2022China Gas Holdings Limited Reports Earnings Results for the Half Year Ended September 3..
CI
More news
Financials
Sales 2023 96 363 M 12 309 M 12 309 M
Net income 2023 6 984 M 892 M 892 M
Net Debt 2023 49 412 M 6 312 M 6 312 M
P/E ratio 2023 9,96x
Yield 2023 3,77%
Capitalization 68 439 M 8 742 M 8 742 M
EV / Sales 2023 1,22x
EV / Sales 2024 1,14x
Nbr of Employees 59 462
Free-Float 49,4%
Chart CHINA GAS HOLDINGS LIMITED
Duration : Period :
China Gas Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA GAS HOLDINGS LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 12,58 HKD
Average target price 11,98 HKD
Spread / Average Target -4,75%
EPS Revisions
Managers and Directors
Ming Hui Liu Executive Chairman, President & Managing Director
Yong Huang Executive President & Executive Director
Wei Wei Zhu Chief Financial Officer, Executive Director & VP
Erwan Mao Independent Non-Executive Director
Yu Hua Zhao Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
CHINA GAS HOLDINGS LIMITED6.34%8 392
NATURGY ENERGY GROUP, S.A.8.02%27 485
ATMOS ENERGY CORPORATION2.74%16 237
APA GROUP0.19%9 003
TOKYO GAS CO., LTD.-2.13%8 447
GAIL INDIA LIMITED5.05%8 139