Zhongyu Gas Holdings Limited (HK:3633)
:3633
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Zhongyu Gas Holdings Limited
(3633)
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Rating:45Neutral
Price Target:
HK$2.50
▼(-10.07% Downside)
Action:ReiteratedDate:04/29/26
The score is weighed down primarily by weakened financial performance (significant margin compression, low ROE, and volatile/free-cash-flow pressure alongside rising leverage). Technicals are neutral-to-weak with the stock below key longer-term moving averages and only modest momentum. Valuation is a major headwind due to an extremely high P/E and only a modest dividend yield.
Positive Factors
Consistent operating cash flow
Consistent positive operating cash flow across 2020–2025 underpins the business’s ability to fund working capital, routine capex and operations without constant external financing. That durability supports service reliability, debt servicing capacity and steady operational continuity over months to years.
Negative Factors
Sharp margin compression
Substantially lower gross and net margins materially reduce internal cash generation and the buffer to absorb higher upstream costs or lower tariffs. Persistently compressed margins limit reinvestment, dividend capacity and increase sensitivity to commodity or regulatory cost shifts over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent operating cash flow
Consistent positive operating cash flow across 2020–2025 underpins the business’s ability to fund working capital, routine capex and operations without constant external financing. That durability supports service reliability, debt servicing capacity and steady operational continuity over months to years.
Read all positive factors
Zhongyu Gas Holdings Limited (3633) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$7.53B
Dividend Yield0.71%
Average Volume (3M)23.38M
Price to Earnings (P/E)1075.2
Beta (1Y)-0.17
Revenue Growth-7.63%
EPS Growth71.13%
CountryHK
Employees5,146
SectorUtilities
Sector Strength65
IndustryRegulated Gas
Share Statistics
EPS (TTM)<0.01
Shares Outstanding2,748,305,200
10 Day Avg. Volume32,722,401
30 Day Avg. Volume23,379,194
Financial Highlights & Ratios
PEG Ratio0.43
Price to Book (P/B)1.04
Price to Sales (P/S)0.61
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Zhongyu Gas Holdings Limited Business Overview & Revenue Model
Company Description
Zhongyu Energy Holdings Limited, an investment holding company, engages in the development, construction, and operation of natural gas projects in the People's Republic of China. The company is involved in the investment, operation, and management...
How the Company Makes Money
Zhongyu Gas makes money primarily through downstream city gas operations tied to its local gas distribution networks. Key revenue streams generally include: (1) Sale of piped natural gas to end users: the company purchases natural gas from upstrea...
Zhongyu Gas Holdings Limited Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
52
Neutral
Cash Flow
46
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 12.44B | 13.47B | 13.64B | 13.00B | 11.34B |
| Gross Profit | 1.63B | 1.76B | 1.91B | 1.97B | 2.19B |
| EBITDA | 1.32B | 1.63B | 1.78B | 1.73B | 2.26B |
| Net Income | 247.28M | 146.38M | 246.72M | 174.08M | 1.19B |
Balance Sheet | |||||
| Total Assets | 25.56B | 26.22B | 26.43B | 26.31B | 26.67B |
| Cash, Cash Equivalents and Short-Term Investments | 1.08B | 1.65B | 1.52B | 1.34B | 1.87B |
| Total Debt | 13.22B | 12.92B | 12.22B | 11.54B | 11.34B |
| Total Liabilities | 17.25B | 17.84B | 17.74B | 17.18B | 17.16B |
| Stockholders Equity | 7.35B | 7.39B | 7.70B | 8.13B | 8.66B |
Cash Flow | |||||
| Free Cash Flow | 130.35M | 350.31M | 580.06M | 188.16M | 282.71M |
| Operating Cash Flow | 1.08B | 1.05B | 1.50B | 1.40B | 1.80B |
| Investing Cash Flow | -860.11M | -778.54M | -964.44M | -1.32B | -1.63B |
| Financing Cash Flow | -900.71M | -12.71M | -248.79M | -434.01M | -43.26M |
Zhongyu Gas Holdings Limited Technical Analysis
Neutral
2.78
Price Trends
2.78
Negative
2.82
Negative
3.23
Negative
Market Momentum
-0.03
Negative
48.35
Neutral
73.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3633, the sentiment is Neutral. The current price of 2.78 is above the 20-day moving average (MA) of 2.73, below the 50-day MA of 2.78, and below the 200-day MA of 3.23, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 48.35 is Neutral, neither overbought nor oversold. The STOCH value of 73.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:3633.
Zhongyu Gas Holdings Limited 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% | |
59 Neutral | HK$1.69B | 7.87 | 9.15% | 6.91% | -9.54% | 1.70% | |
55 Neutral | HK$13.03B | 8.67 | 6.35% | 6.38% | -1.89% | -5.33% | |
54 Neutral | HK$2.77B | 79.81 | 4.85% | 4.94% | 1.97% | -87.86% | |
53 Neutral | HK$16.54B | 21.24 | 4.67% | 1.17% | -3.75% | 77.10% | |
45 Neutral | HK$7.53B | 1,075.24 | 2.04% | 0.71% | -7.63% | 71.13% | |
45 Neutral | HK$336.59M | -6.86 | -3.86% | ― | -0.26% | 4.76% |
* Utilities Sector Average
HK:3633
Zhongyu Gas Holdings Limited
2.74
-1.51
-35.51%
HK:2886
Binhai Investment Co
1.22
0.22
22.49%
HK:1083
Towngas China Co
3.58
0.32
9.68%
HK:1265
Tianjin Jinran Public Utilities Co. Ltd. Class H
0.18
0.01
8.28%
HK:1635
Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H
3.08
1.31
74.31%
HK:1600
Tian Lun Gas Holdings Limited
2.84
0.40
16.39%
Zhongyu Gas Holdings Limited Corporate Events
Zhongyu Gas Admits Lapse on Connected LNG Deals With China Gas
Apr 20, 2026
Zhongyu Gas Holdings has disclosed that, from FY2020 through FY2025 and into early 2026, its subsidiaries entered into multiple LNG purchase and sales agreements with subsidiaries of its controlling shareholder, China Gas, rendering these transact...
Zhongyu Energy Boosts 2025 Profit and Accelerates Shift Into Biomass and Smart Energy
Mar 29, 2026
Zhongyu Energy reported 2025 turnover of HK$12.44 billion, down 7.6% year on year, but significantly improved profitability, with profit attributable to shareholders jumping 68.9% and basic earnings per share rising 71%. Gas sales volumes were bro...
Zhongyu Energy Declares HKD 0.03 Final Dividend for 2025
Mar 29, 2026
Zhongyu Energy Holdings Limited has declared a final ordinary cash dividend of HKD 0.03 per share for the financial year ended 31 December 2025. The dividend will be paid in Hong Kong dollars, subject to shareholder approval, with an ex-dividend d...
Zhongyu Energy Schedules Board Meeting to Approve 2025 Annual Results
Mar 16, 2026
Zhongyu Energy Holdings Limited has scheduled a board meeting in Hong Kong on 27 March 2026 to review and approve the annual results for the year ended 31 December 2025. The board will also consider the potential declaration of a final dividend, a...
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.