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    6   HK0006000050

POWER ASSETS HOLDINGS LTD.

(6)
  Report
Delayed Hong Kong Stock Exchange  -  10:49 2022-12-06 pm EST
41.95 HKD   +1.82%
09/28Power Assets Holdings Limited (SEHK:6) commences an Equity Buyback Plan for 213,426,165 shares, representing 10% of its issued share capital, under the authorization approved on May 18, 2022.
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09/01POWER ASSETS HOLDINGS LTD. : Ex-dividend day for interim dividend
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08/05UBS Adjusts Power Assets' Price Target to HK$60 From HK$63, Keeps at Buy
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UK Energy Watchdog Unlocks GBP300 Million Investment to Upgrade Local Distribution Networks -- Update

05/24/2021 | 03:01am EST

--Ofgem delivers a GBP300 million down payment to speed up projects across Britain's power-distribution networks

--The money is part of a wider GBP40 billion investment package to achieve net zero in the U.K.

--The projects will support more than 3,500 new electric-vehicle charging points

By Jaime Llinares Taboada

Ofgem said Monday that it has approved 300 million pounds ($424.5 million) in investments to upgrade Britain's local energy-distribution networks.

The regulator of Britain's power and gas sectors said the investment will fund 204 projects in England, Scotland and Wales to support clean transport and heat, and open up local grids to take on more low-carbon electricity generation.

In particular, the money will support the installation of 1,800 ultra-rapid electric-vehicle charging points at motorway service areas and 1,750 points in towns and cities.

Around half of the money, GBP144.8 million, is funding that Ofgem allocated as part of the last power-network price control and that companies didn't spend. The other GBP155.7 million is money that will be passed to consumers over the following years.

The investment will be delivered in the next two years, and is part of a bigger plan to upgrade the U.K.'s energy infrastructure amid efforts to achieve net-zero emissions. This wider investment package is expected to total around GBP40 billion.

Britain's distribution companies include Electricity North West Ltd., Northern Powergrid, Scottish and Southern Energy Networks, SP Energy Networks, U.K. Power Networks and Western Power Distribution.

"In the year that Glasgow hosts the COP26 climate summit, the energy networks are rising to the challenge and working with us and partners to accelerate projects that can start now, benefiting consumers, boosting the economy and creating jobs," Ofgem Chief Executive Jonathan Brearley said.

"Following a successful call for evidence, in which local authorities, developers and other parties stated the case for extra network capacity to receive investment, Britain's energy networks will now accelerate funding over the next 12-24 months," the Energy Networks Association said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

05-24-21 0501ET

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DOW JONES INDUSTRIAL -1.03% 33596.34 Real-time Quote.-6.58%
IBERDROLA, S.A. 0.09% 10.905 Delayed Quote.4.76%
NATIONAL GRID PLC -0.68% 1019 Delayed Quote.-3.85%
POWER ASSETS HOLDINGS LTD. 1.82% 41.95 Delayed Quote.-15.84%
SSE PLC -1.16% 1710 Delayed Quote.3.70%
All news about POWER ASSETS HOLDINGS LTD.
09/28Power Assets Holdings Limited (SEHK:6) commences an ..
CI
09/01POWER ASSETS HOLDINGS LTD. : Ex-dividend day for interim divi..
FA
08/05UBS Adjusts Power Assets' Price Target to HK$60 From HK$63, Keeps at Buy
MT
08/04Nomura Adjusts Power Assets Holdings' Price Target to HK$52.90 From HK$49, Keeps at Neu..
MT
08/03Power Assets' Profit Climbs in First Half of 2022
MT
08/03Assets Holdings Limited Declares Interim Dividend for the Six Months Ended June 30, 202..
CI
08/03Power Assets Holdings Limited Reports Earnings Results for the Half Year Ended June 30,..
CI
08/03POWER ASSETS HOLDINGS LTD. : Half-year results
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07/21POWER ASSETS HOLDINGS LTD. : Extraordinary general shareholde..
CO
07/04UK Power Networks Deal Falls Through After Owner Raises Asking Price, FT Reports
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Analyst Recommendations on POWER ASSETS HOLDINGS LTD.
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Financials
Sales 2022 1 265 M 163 M 163 M
Net income 2022 6 808 M 876 M 876 M
Net cash 2022 1 946 M 250 M 250 M
P/E ratio 2022 13,0x
Yield 2022 6,87%
Capitalization 87 802 M 11 292 M 11 292 M
EV / Sales 2022 67,9x
EV / Sales 2023 67,0x
Nbr of Employees 14
Free-Float 64,0%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 41,20 HKD
Average target price 53,75 HKD
Spread / Average Target 30,5%
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Managers and Directors
Chao Chung Tsai Chief Executive Officer & Executive Director
Kee Ham Chan Chief Financial Officer
Kin Ning Fok Executive Director
Yuk Keung Ip Independent Non-Executive Director
Ting Yuk Wu Independent Non-Executive Director
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