China Resources Gas Group Limited (HK:1193)
:1193
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China Resources Gas Group
(1193)
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Rating:58Neutral
Price Target:
HK$19.50
â–²(1.77% Upside)
Action:Downgraded
Date:05/04/26
The score is driven primarily by stable but softening financial performance (margin/return compression and a 2025 revenue decline), offset by supportive valuation (moderate P/E and strong dividend yield). Technicals remain a headwind with weak momentum and the share trading below key moving averages.
Positive Factors
Regulated city-gas network
A city-gas network model delivers recurring metered revenues and connection fees tied to long-lived infrastructure. Regulated tariffs and entrenched pipeline assets create demand resilience and predictable cash flow profiles, supporting stability over the next several months.
Negative Factors
Revenue weakness
Declining top-line after prior growth signals weaker demand mix or tariff pressure, which reduces earnings leverage from fixed network economics. Continued revenue softness can constrain margin recovery, capex prioritization and organic customer-connection growth over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated city-gas network
A city-gas network model delivers recurring metered revenues and connection fees tied to long-lived infrastructure. Regulated tariffs and entrenched pipeline assets create demand resilience and predictable cash flow profiles, supporting stability over the next several months.
Read all positive factors
China Resources Gas Group (1193) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$42.76B
Dividend Yield4.43%
Average Volume (3M)4.50M
Price to Earnings (P/E)14.6
Beta (1Y)0.53
Revenue Growth-4.81%
EPS Growth-13.88%
CountryHK
Employees57,522
SectorUtilities
Sector Strength65
IndustryRegulated Gas
Share Statistics
EPS (TTM)1.55
Shares Outstanding2,314,013,000
10 Day Avg. Volume4,087,010
30 Day Avg. Volume4,501,299
Financial Highlights & Ratios
PEG Ratio-1.05
Price to Book (P/B)1.17
Price to Sales (P/S)0.53
P/FCF Ratio16.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$21.56Price Target Upside12.53% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)1.57
Revenue Forecast (FY)HK$101.15B
China Resources Gas Group Business Overview & Revenue Model
Company Description
China Resources Gas Group Limited, an investment holding company, engages in the sale of liquefied gas and connection of gas pipelines. The company operates through Sale and Distribution of Gas Fuel and Related Products, Gas Connection, Sale of Ga...
How the Company Makes Money
The company primarily makes money from downstream gas sales and related services. (1) Piped natural gas sales: It purchases natural gas from upstream suppliers and delivers it through its city-gas pipeline networks to end-users (residential, indus...
China Resources Gas Group Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
59
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 97.73B | 102.68B | 101.27B | 94.34B | 79.64B |
| Gross Profit | 17.42B | 18.26B | 18.45B | 17.97B | 19.10B |
| EBITDA | 9.55B | 10.17B | 13.24B | 12.02B | 13.14B |
| Net Income | 3.55B | 4.09B | 5.22B | 4.73B | 6.40B |
Balance Sheet | |||||
| Total Assets | 136.41B | 132.48B | 137.87B | 112.05B | 106.14B |
| Cash, Cash Equivalents and Short-Term Investments | 8.95B | 7.53B | 10.81B | 6.44B | 10.09B |
| Total Debt | 24.15B | 23.52B | 27.12B | 22.97B | 12.01B |
| Total Liabilities | 67.51B | 68.51B | 74.49B | 59.76B | 52.10B |
| Stockholders Equity | 44.18B | 41.17B | 40.77B | 39.33B | 41.26B |
Cash Flow | |||||
| Free Cash Flow | 3.06B | 2.80B | 4.51B | -2.14B | 2.85B |
| Operating Cash Flow | 6.31B | 7.00B | 10.16B | 4.28B | 8.80B |
| Investing Cash Flow | -3.82B | -2.23B | -4.53B | -15.13B | -11.14B |
| Financing Cash Flow | -3.17B | -7.43B | -1.96B | 7.62B | -3.35B |
China Resources Gas Group Technical Analysis
Negative
19.16
Price Trends
19.27
Negative
20.45
Negative
20.59
Negative
Market Momentum
-0.12
Negative
37.82
Neutral
14.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1193, the sentiment is Negative. The current price of 19.16 is above the 20-day moving average (MA) of 18.93, below the 50-day MA of 19.27, and below the 200-day MA of 20.59, indicating a bearish trend. The MACD of -0.12 indicates Negative momentum. The RSI at 37.82 is Neutral, neither overbought nor oversold. The STOCH value of 14.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:1193.
China Resources Gas Group Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | HK$66.11B | 11.71 | 12.60% | 4.30% | 1.89% | -0.52% | |
63 Neutral | HK$40.97B | 7.70 | 5.14% | 6.44% | -2.28% | -9.61% | |
58 Neutral | HK$42.76B | 14.60 | 8.10% | 4.43% | -4.81% | -13.88% | |
57 Neutral | HK$136.96B | 11.84 | 9.73% | 4.94% | -2.07% | -0.42% | |
55 Neutral | HK$12.89B | 4.28 | 6.35% | 6.38% | -1.89% | -5.33% | |
54 Neutral | HK$17.06B | 34.41 | 3.04% | 1.17% | -3.75% | 77.10% |
* Utilities Sector Average
HK:1193
China Resources Gas Group
18.58
-2.89
-13.44%
HK:0384
China Gas Holdings
7.54
0.77
11.37%
HK:0003
Hong Kong & China Gas Co
7.31
0.66
9.99%
HK:1083
Towngas China Co
3.47
0.20
6.02%
HK:2688
ENN Energy Holdings
58.75
-2.78
-4.52%
HK:1635
Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H
3.04
1.12
58.00%
China Resources Gas Group Corporate Events
China Resources Gas Sets AGM to Approve Dividend, New Auditor and Share Issue Mandate
Apr 30, 2026
China Resources Gas Group has called its annual general meeting for 28 May 2026 in Hong Kong, where shareholders will review the audited financial statements for the year ended 31 December 2025 and vote on a proposed final dividend of HK$0.65 per ...
China Resources Gas Plans Auditor Switch From KPMG to Deloitte in 2026
Apr 30, 2026
China Resources Gas Group has announced a proposed change of independent auditor as part of efforts to strengthen corporate governance and preserve the independence and objectivity of its external audit function. KPMG, which has served as auditor ...
China Resources Gas Subsidiary Chongqing Gas Sees Profit Drop in 2025 but Maintains Dividends
Apr 17, 2026
China Resources Gas Group has reported principal financial information for its subsidiary Chongqing Gas Group Corporation for the year ended 31 December 2025, showing relatively stable assets but weaker profitability. Chongqing Gas’s total a...
China Resources Gas Subsidiary Chongqing Gas Narrows Q1 Loss on Slightly Lower Revenue
Apr 17, 2026
China Resources Gas has reported the unaudited first-quarter 2026 financial results of its subsidiary Chongqing Gas, showing revenue of RMB 2.63 billion, down slightly from a year earlier. Chongqing Gas narrowed its net loss to RMB 33.1 million fr...
China Resources Gas Raises RMB2.5 Billion in Second Tranche Medium Term Notes
Apr 10, 2026
China Resources Gas Group has completed the issuance of a second tranche of medium term notes in mainland China via its wholly owned subsidiary, China Resources Gas Investment (China) Company Limited. The notes total RMB2.5 billion, carry a three-...
China Resources Gas Unit to Acquire CR Energy Service in RMB91.5 Million Connected Deal
Apr 8, 2026
China Resources Gas Group’s indirect wholly owned subsidiary CR Supercharge Technology has agreed to acquire 100% of CR Energy Service from fellow China Resources unit CR Financial Leasing for approximately RMB91.52 million. The transaction,...
China Resources Gas Sets 2025 Final Dividend With HKD/RMB Currency Choice
Mar 27, 2026
China Resources Gas Group Limited has proposed a final ordinary dividend of HK$0.65 per share for the financial year ended 31 December 2025, with shareholders to approve the payout at the annual general meeting on 28 May 2026. Investors can elect ...
China Resources Gas Holds Dividend as 2025 Profit Declines on Softer Revenue
Mar 27, 2026
China Resources Gas Group reported full-year 2025 revenue of HK$97.73 billion, down 4.8% from 2024, as profit attributable to shareholders fell 13.2% to HK$3.55 billion. Earnings per share declined to HK$1.55 from HK$1.80, but the board maintained...
China Resources Gas Revamps Board and Committee Leadership
Mar 27, 2026
China Resources Gas Group has announced a board refresh, with long-serving independent non-executive directors Wong Tak Shing and Yu Hon To, David stepping down after the upcoming annual general meeting due to other work commitments. Both have rel...
China Resources Gas Clarifies Board Composition and Governance Committee Roles
Mar 27, 2026
China Resources Gas Group Limited has announced the current composition of its board of directors, detailing executive, non-executive and independent non-executive members, including Chairman Yang Ping and Chief Executive Officer Qin Yan. The comp...
China Resources Gas Revamps Board Committees With New Non-Executive Director
Mar 3, 2026
China Resources Gas Group has announced a board reshuffle effective 3 March 2026, with non-executive director Ge Lu retiring and stepping down from the nomination committee. The company said Ge has no disagreement with the board, and directors exp...
China Resources Gas Details Board and Committee Structure
Mar 3, 2026
China Resources Gas Group has announced the current composition of its board of directors, led by chairman Yang Ping and chief executive officer Qin Yan, comprising executive, non-executive and independent non-executive directors. The disclosure c...
China Resources Gas Sets March Board Meeting to Approve 2025 Results and Mull Final Dividend
Mar 2, 2026
China Resources Gas Group has scheduled a board meeting for 27 March 2026 to review and approve the consolidated final results for the financial year ended 31 December 2025. The board will also consider whether to recommend a final dividend, a dec...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.