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About China Gas Holdings Ltd.

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Market capitalization Around $156.3billion
Core business Market leader of natural gas and liquefied petroleum gas distribution industry in China. It owns the largest portfolio of piped gas projects with concession right and the accumulated number of connected residential users reached 24 million households
Business growth In FY2018, total natural gas sales volume and completed natural gas connections increased by 52.6% yoy and 53.1% yoy respectively
Strength The Group has established strategic partnerships with 10 provinces to implement "replacement of coal with gas" projects in more than 145 mainland cities, counties or districts
Strategic plan In 3 to 4 years, the Group targets to finalise residential connections for around 8 million households in "2+26" cities in Jing-Jin-Ji region, representing 20% of total capacity in the region
Opportunities Scale advantage fully realised as China targets to increase the amount of natural gas in its primary energy mix to 10% by 2020 from 7% in 2017, as well as benefitting from the fast paced "coal to gas conversion" projects
Competitive advantage
  1. The Group has the largest number of connections with businesses covering Hong Kong and up to 28 provinces in China
  2. Early mover advantage in rural "coal to gas conversion"
  3. Cooperation with major shareholder, Beijing Enterprises, may lead to investment opportunities in the Beijing, Tianjin, and Hebei area
Valuation FY19F PE of 19.9x, higher than the historical average and that of closest peers at 19x. But valuation is still fair on the back of 22.5% expected EPS CAGR over FY18-21. (vs 15.3% of peers)

Seminar details

Date: 30 August, 2018 (Thu)
Time: 7:00pm – 8:30pm
Venue: 23/F, Euro Trade Centre,
21-23 Des Voeux Road, Central, Hong Kong
(MTR Central Station, Exit A)
Speaker:

Assistant to President and General Manager of Capital Management Centre (Corporate Finance & Investor Relations), China Gas Holdings Ltd.
Mr. Frank Li

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