China Gas Holdings (0384) AI Stock Analysis

• Market Cap: HK$41.73B
• Dividend Yield: 6.44%
• Average Volume (3M): 7.29M
• Price to Earnings (P/E): 14.7
• Beta (1Y): 0.74
• Revenue Growth: -2.28%
• EPS Growth: -9.61%
• Country: HK
• Employees: 70,000
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Gas
• EPS (TTM): 0.25
• Shares Outstanding: 5,448,153,000
• 10 Day Avg. Volume: 7,076,775
• 30 Day Avg. Volume: 7,293,963
• PEG Ratio: -0.45
• Price to Book (P/B): 0.70
• Price to Sales (P/S): 0.46
• P/FCF Ratio: 7.14
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: HK$8.57
• Price Target Upside: 11.94% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 66 Neutral
• Price Target: HK$8.50 ▲(10.97% 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 its customers, including residential, commercial, and industrial sectors. The company earns money by charging customers for the volume of gas consumed, which is measured in cubic meters. Additionally, the company generates revenue from connection fees charged to new customers for the installation of gas supply lines and infrastructure. Another significant revenue stream comes from the construction and management of gas pipelines and facilities, often through partnerships with local governments and other entities. The company also benefits from government policies promoting natural gas usage over coal, which supports an increase in demand for its services.

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 2024	Dec 2023	Dec 2021	Dec 2020
Income Statement
Total Revenue	79.26B	81.41B	79.26B	91.99B	88.23B	69.98B
Gross Profit	11.26B	11.30B	11.26B	12.03B	15.74B	18.10B
EBITDA	8.82B	9.64B	10.00B	10.71B	12.39B	14.89B
Net Income	3.25B	3.18B	3.25B	4.29B	7.66B	10.48B
Balance Sheet
Total Assets	148.22B	148.70B	148.22B	157.29B	163.15B	140.72B
Cash, Cash Equivalents and Short-Term Investments	8.89B	8.12B	8.89B	10.72B	10.29B	9.26B
Total Debt	60.42B	59.24B	60.42B	61.39B	57.70B	50.70B
Total Liabilities	87.49B	87.95B	87.49B	92.50B	91.08B	80.86B
Stockholders Equity	53.86B	53.93B	53.86B	57.90B	63.58B	51.94B
Cash Flow
Free Cash Flow	1.80B	5.28B	1.77B	2.30B	-673.72M	-1.12B
Operating Cash Flow	6.44B	11.34B	6.44B	8.26B	8.34B	7.23B
Investing Cash Flow	-1.78B	-7.05B	-1.78B	-10.08B	-15.86B	-8.89B
Financing Cash Flow	-3.81B	-5.86B	-3.81B	2.95B	8.78B	2.57B

China Gas Holdings Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 7.66
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0384, the sentiment is Neutral. The current price of 7.66 is below the 20-day moving average (MA) of 7.68, below the 50-day MA of 8.02, and above the 200-day MA of 7.44, indicating a neutral trend. The MACD of -0.12 indicates Negative momentum. The RSI at 44.34 is Neutral, neither overbought nor oversold. The STOCH value of 33.33 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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	76 Outperform	HK$77.12B	12.05	13.36%	4.30%	-3.19%	-2.68%
1193	75 Outperform	HK$49.40B	16.34	7.17%	4.43%	-4.37%	-41.14%
0384	66 Neutral	HK$41.73B	14.71	4.98%	6.44%	-2.28%	-9.61%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
1083	61 Neutral	HK$13.40B	7.82	6.98%	6.38%	3.86%	30.34%
1600	59 Neutral	HK$2.96B	9.34	4.88%	4.94%	7.55%	-32.06%
3633	48 Neutral	HK$7.59B	49.73	2.04%	0.71%	-7.82%	-38.06%

China Gas Holdings Corporate Events

China Gas Holdings Announces LNG Purchase Agreement with Beijing Gas Singapore

China Gas Holdings Limited has announced a connected transaction involving the sale and purchase of LNG with Beijing Gas Singapore. Under the agreement, China Gas International will purchase 3,400,000 MMBtu of LNG from Beijing Gas Singapore for a total of USD38,885,800. This transaction is classified as a connected transaction under the Listing Rules due to the ownership structure involving BEHL, which holds a significant stake in China Gas Holdings. The transaction is subject to reporting and announcement requirements but is exempt from circular and independent shareholders’ approval.

The most recent analyst rating on (HK:0384) stock is a Hold with a HK$7.30 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 Expands Energy Storage Business and Enters Strategic Partnership with EVE Energy

China Gas Holdings Limited has announced significant business developments, driven by favorable national policies that have increased demand for Energy Storage Solutions (ESS) among industrial and commercial users. The company has leveraged these opportunities to expand its ESS business, achieving substantial growth in operational scale and contracted capacity. Additionally, China Gas is enhancing its electricity trading precision through AI technology and innovative models like virtual power plants. In alignment with its strategic direction as a ‘Green City Operator’, the company is building a synergistic ecosystem to provide low-carbon, integrated energy solutions. Furthermore, China Gas has entered into a strategic cooperation agreement with EVE Energy Co., Ltd. to advance energy storage technology innovation and support national ‘Dual Carbon’ goals, focusing on technology R&D and commercial application of low-carbon energy management platforms.

The most recent analyst rating on (HK:0384) stock is a Hold with a HK$7.30 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 Decline in Interim Profits for 2025

China Gas Holdings Limited reported its interim financial results for the six months ending September 30, 2025, showing a slight decrease in revenue from HK$35.1 billion in 2024 to HK$34.5 billion in 2025. Despite the drop in revenue, the company maintained a strong gross profit margin, although net profit decreased from HK$2.26 billion to HK$1.77 billion. The results reflect challenges in the market, impacting the company’s profitability and comprehensive income, which fell from HK$3.88 billion to HK$2.77 billion. This financial performance may affect stakeholders’ outlook on the company’s future growth and market positioning.

The most recent analyst rating on (HK:0384) stock is a Hold with a HK$8.50 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 Board Meeting for Interim Results and Dividend Consideration

China Gas Holdings Limited has announced a board meeting scheduled for November 28, 2025, to approve the unaudited interim results for the six months ending September 30, 2025, and to consider the recommendation of an interim dividend. This meeting is crucial for stakeholders as it will provide insights into the company’s financial performance and potential dividend payouts, impacting investor confidence and market positioning.

The most recent analyst rating on (HK:0384) stock is a Hold with a HK$8.50 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 Key Executive Changes

China Gas Holdings Limited has announced a change in its executive team, with Ms. Chan Wing Ki resigning from her roles as Group General Counsel, Company Secretary, and other key positions effective November 10, 2025. Ms. Chan Pui Ling, with extensive experience in legal and corporate governance, has been appointed to these roles, signaling a smooth transition and continued focus on strong governance within the company.

The most recent analyst rating on (HK:0384) stock is a Hold with a HK$8.50 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 Strong Interim Financial Results for Zhongran Investment

China Gas Holdings Limited announced the unaudited financial results of its wholly-owned subsidiary, Zhongran Investment Limited, for the nine months ending September 30, 2025. Zhongran Investment reported total assets of RMB64.1 billion and a net profit of RMB1.25 billion. The announcement highlights the financial health of Zhongran Investment, with a notable net increase in cash and cash equivalents, indicating strong operational performance. However, stakeholders are advised to exercise caution as the figures are unaudited and do not represent the complete financial status of the entire group.

The most recent analyst rating on (HK:0384) stock is a Hold with a HK$8.50 price target. To see the full list of analyst forecasts on China Gas Holdings stock, see the HK:0384 Stock Forecast page.