China Gas Holdings (0384) AI Stock Analysis

• Market Cap: $44.24B
• Dividend Yield: 6.29%
• Average Volume (3M): 5.32M
• Price to Earnings (P/E): 13.4
• Beta (1Y): 0.76
• Revenue Growth: -2.64%
• EPS Growth: 1.97%
• Country: HK
• Employees: 70,000
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Gas
• EPS (TTM): 0.27
• Shares Outstanding: 5,448,153,000
• 10 Day Avg. Volume: 4,757,452
• 30 Day Avg. Volume: 5,323,151
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 2.18
• Enterprise Value/Revenue: 1.20
• Enterprise Value/Gross Profit: 8.45
• Enterprise Value/Ebitda: 11.55
• 1Y Price Target: $7.00
• Price Target Upside: -11.99% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 66 Neutral
• Price Target: HK$8.50 ▲(6.92% Upside)

The overall stock score of 66 reflects stable financial performance with challenges in revenue growth and cash flow. Technical indicators show short-term stability but lack strong momentum. The valuation is attractive due to a reasonable P/E ratio and high dividend yield, making it appealing for income-focused investors.

Positive Factors

Stable Profitability

Stable profitability indicates effective cost management and operational efficiency, which are crucial for long-term financial health and competitiveness.

Strategic Partnerships

Partnerships with local governments and energy firms expand market access and operational capabilities, supporting sustainable growth and competitive positioning.

Balanced Capital Structure

A balanced capital structure provides financial stability and flexibility, enabling the company to navigate economic fluctuations and invest in growth opportunities.

Negative Factors

Declining Revenue Trend

A declining revenue trend can hinder growth prospects and affect market competitiveness, necessitating strategic initiatives to reverse the trend.

Volatile Free Cash Flow

Volatile free cash flow can limit the company's ability to fund new projects and investments, impacting long-term growth and financial stability.

Rising Debt Levels

Increased debt levels can strain financial resources and limit strategic flexibility, posing risks to long-term sustainability and growth.

China Gas Holdings Business Overview & Revenue Model

Company Description

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 users; constructs and operates compressed natural gas/liquefied natural gas refilling stations; and develops technologies related to natural gas and LPG. It is also involved in the investment in petrochemical facilities of storage and transportation; 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. In addition, the company offers treasury, management, consultancy, and procurement services; and smart home products and gas insurance broker services, as well as gas heaters and kitchen appliances under the Gasbo brand. Further, it is involved in the development and investment in clean energy; wholesale and trading of natural gas and liquefied natural gas; sale of electricity; and provides gas meters, pressure regulators, corrugated pipes, gas alarms, and bottled gas. Additionally, the company engages in the wholesale and retail of household equipment, electric appliances, and kitchen appliances. As of March 31, 2022, it served 19,808 industrial and 297,664 commercial customers; and 43,095,245 residential customers, as well as operates 533 CNG/LNG refilling stations. The company was incorporated in 1995 and is headquartered in Wan Chai, Hong Kong.

How the Company Makes Money

China Gas Holdings generates revenue primarily through the sale of natural gas to residential, commercial, and industrial users. The company earns income from the distribution of piped gas, where it charges for the gas supplied and related services. Additionally, it derives revenue from the construction and operation of gas pipelines, often working in partnership with local governments to develop infrastructure. Key revenue streams also include sales of liquefied natural gas (LNG) and gas appliances, as well as maintenance and installation services. Strategic partnerships with municipal governments and other energy companies enhance its market reach and operational capabilities, significantly contributing to its earnings.

China Gas Holdings Financial Statement Overview

Summary

China Gas Holdings demonstrates stable profitability and a balanced capital structure, but faces challenges in revenue growth and cash flow stability. The company should focus on improving operational efficiency and managing its debt levels to enhance financial health.

Income Statement

China Gas Holdings has shown a declining revenue trend over the past few years, with a negative revenue growth rate in the most recent year. Despite this, the company maintains stable gross and net profit margins, indicating efficient cost management. However, the declining EBIT and EBITDA margins suggest potential challenges in operational efficiency.

Balance Sheet

The company's debt-to-equity ratio has increased slightly, indicating a higher reliance on debt financing. However, the return on equity remains positive, reflecting the company's ability to generate returns for shareholders. The equity ratio is stable, suggesting a balanced capital structure.

Cash Flow

The cash flow analysis reveals a mixed picture. While the operating cash flow remains positive, the free cash flow has shown volatility, with periods of negative growth. The free cash flow to net income ratio indicates that a significant portion of earnings is not translating into free cash flow, which could impact future investments.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	80.47B	79.26B	81.41B	91.99B	88.23B	69.98B
Gross Profit	11.44B	11.26B	11.30B	12.03B	15.74B	18.10B
EBITDA	8.37B	10.00B	8.50B	8.85B	12.39B	14.89B
Net Income	3.12B	3.25B	3.18B	4.29B	7.66B	10.48B
Balance Sheet
Total Assets	153.47B	148.22B	148.70B	157.29B	163.15B	140.72B
Cash, Cash Equivalents and Short-Term Investments	9.23B	8.89B	8.12B	10.72B	10.29B	9.26B
Total Debt	60.77B	60.42B	59.24B	61.39B	57.70B	50.70B
Total Liabilities	89.31B	87.49B	87.95B	92.50B	91.08B	80.86B
Stockholders Equity	57.12B	53.86B	53.93B	57.90B	63.58B	51.94B
Cash Flow
Free Cash Flow	1.46B	1.77B	5.28B	2.30B	-673.72M	-1.12B
Operating Cash Flow	7.46B	6.44B	11.34B	8.26B	8.34B	7.23B
Investing Cash Flow	-5.92B	-1.78B	-7.05B	-10.08B	-15.86B	-8.89B
Financing Cash Flow	-4.03B	-3.81B	-5.86B	2.95B	8.78B	2.57B

China Gas Holdings Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 7.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0384, the sentiment is Positive. The current price of 7.95 is above the 20-day moving average (MA) of 7.82, above the 50-day MA of 7.84, and above the 200-day MA of 7.04, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 65.96 is Neutral, neither overbought nor oversold. The STOCH value of 95.94 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:0384.

China Gas Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2688	72 Outperform	$74.32B	11.62	13.36%	4.56%	-3.19%	-2.68%
1193	68 Neutral	$46.50B	15.38	7.17%	4.88%	-4.37%	-41.14%
0384	66 Neutral	$44.24B	13.45	6.04%	6.29%	-2.64%	1.97%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
1083	61 Neutral	$13.74B	8.09	6.98%	1.32%	3.86%	30.34%
1600	60 Neutral	HK$3.31B	10.46	4.88%	4.67%	7.55%	-32.06%
3633	47 Neutral	HK$8.66B	56.76	2.04%	0.63%	-7.82%	-38.06%

China Gas Holdings Corporate Events

China Gas Holdings Re-designates Professor Liu Mingxing as Executive Director

China Gas Holdings Limited has announced the re-designation of Professor Liu Mingxing from a non-executive director to an executive director, effective August 1, 2025. Professor Liu, who has a strong background in economics and finance, will focus on the development and research of new energy business for the company, potentially impacting its strategic direction and market positioning.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Updates Board of Directors and Committee Roles

China Gas Holdings Limited announced the updated list of its board of directors and their roles, effective from August 1, 2025. This update includes the appointment of executive, non-executive, and independent non-executive directors, along with the composition of key committees such as the Audit, Nomination, Remuneration, and Corporate Governance and Risk Control Committees. This restructuring is likely to impact the company’s governance and operational strategies, potentially influencing its market position and stakeholder relations.

The most recent analyst rating on (HK:0384) stock is a Hold with a HK$7.00 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Announces AGM Agenda and Strategic Resolutions

China Gas Holdings Limited has announced the details of its upcoming Annual General Meeting (AGM) scheduled for August 21, 2025, in Shenzhen, China. Key agenda items include the approval of audited financial statements, the declaration of a final dividend of HK35 cents per share, and the re-election of several directors. Additionally, the company seeks authorization for the board to fix directors’ and auditors’ remuneration and proposes a resolution to repurchase up to 10% of its shares. These decisions reflect the company’s strategic focus on governance and shareholder value enhancement.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Updates Nomination Committee Terms

China Gas Holdings Limited has updated the terms of reference for its Nomination Committee, which is responsible for overseeing the appointment of directors. The committee will consist of a majority of independent non-executive directors, ensuring compliance with the requirements of The Stock Exchange of Hong Kong Limited. This update is likely to enhance the company’s governance structure, potentially impacting its operational efficiency and stakeholder trust.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Reports Increased Profit Despite Revenue Dip

China Gas Holdings Limited reported its annual financial results for the year ending March 31, 2025, showing a slight decrease in revenue to HK$79.26 billion from HK$81.41 billion the previous year. Despite the revenue drop, the company achieved a profit increase to HK$4.19 billion, up from HK$3.85 billion, indicating improved operational efficiency. The total comprehensive income for the year was HK$3.43 billion, a significant recovery from a loss the previous year, highlighting a positive turnaround in financial performance.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Declares Final Dividend for FY2025

China Gas Holdings Limited has announced a final ordinary cash dividend of HKD 0.35 per share for the financial year ending March 31, 2025. This decision reflects the company’s commitment to returning value to its shareholders and may impact its financial positioning and stakeholder relations positively.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Announces Capital Increase in Subsidiary

China Gas Holdings Limited has announced a connected transaction involving a capital increase in its subsidiary, the Target Company. The agreement, signed on June 20, 2025, involves China Dual Carbon, Brilliant Linkwise, and Beauty Asia subscribing to a 23% equity interest in the Target Company for RMB216 million. This transaction will dilute China Gas Holdings’ shareholding in the Target Company from 100% to 77%, constituting a deemed disposal under the Listing Rules. The transaction is subject to reporting and announcement requirements but is exempt from independent shareholders’ approval.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Schedules Board Meeting to Approve Annual Results

China Gas Holdings Limited has announced a board meeting scheduled for June 27, 2025, to approve the company’s annual results for the fiscal year ending March 31, 2025, and to consider the payment of a final dividend. This meeting is significant as it will provide insights into the company’s financial health and future dividend policies, potentially impacting stakeholders’ expectations and the company’s market positioning.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.

China Gas Holdings Amends Joint Venture Agreement to Establish Hong Kong Subsidiary

China Gas Holdings Limited announced an amendment to its joint venture agreement, establishing the joint venture in Hong Kong instead of the PRC. The company will be a direct party to the joint venture, which will become a subsidiary and have its financial results consolidated into China Gas’s financial statements. The joint venture aims to establish or hold wholly owned subsidiaries to implement its intended businesses and investments. The principal terms of the joint venture, including capital commitments and management structure, remain largely unchanged. This strategic move is expected to enhance China Gas’s operational flexibility and market positioning.

The most recent analyst rating on (HK:0384) stock is a Sell with a HK$5.60 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.