Price Target Changed • Jun 28
Price target decreased by 8.4% to HK$7.20 Down from HK$7.86, the current price target is an average from 14 analysts. New target price is 27% above last closing price of HK$5.65. Stock is down 23% over the past year. The company is forecast to post earnings per share of HK$0.52 for next year compared to HK$0.50 last year. Declared Dividend • Jun 28
Final dividend of HK$0.20 announced Shareholders will receive a dividend of HK$0.20. Ex-date: 25th August 2026 Payment date: 2nd October 2026 Dividend yield will be 6.2%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by earnings (69% earnings payout ratio) but not covered by cash flows (153% cash payout ratio). The dividend has increased by an average of 8.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
China Gas Holdings Limited, Annual General Meeting, Aug 21, 2026 China Gas Holdings Limited, Annual General Meeting, Aug 21, 2026. Reported Earnings • Jun 27
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: HK$0.50 (down from HK$0.60 in FY 2025). Revenue: HK$73.6b (down 7.1% from FY 2025). Net income: HK$2.72b (down 16% from FY 2025). Profit margin: 3.7% (down from 4.1% in FY 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates by 8.9%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 14% per year. Upcoming Dividend • Dec 29
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 05 January 2026. Payment date: 06 February 2026. Payout ratio is on the higher end at 95%, and the cash payout ratio is above 100%. Trailing yield: 6.4%. Lower than top quartile of Hong Kong dividend payers (6.8%). Higher than average of industry peers (4.7%). Declared Dividend • Nov 30
First half dividend of HK$0.15 announced Dividend of HK$0.15 is the same as last year. Ex-date: 5th January 2026 Payment date: 6th February 2026 Dividend yield will be 5.8%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio) nor is it covered by cash flows (151% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 6.0% to bring the payout ratio under control. EPS is expected to grow by 35% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Nov 29
First half 2026 earnings released: EPS: HK$0.25 (vs HK$0.33 in 1H 2025) First half 2026 results: EPS: HK$0.25 (down from HK$0.33 in 1H 2025). Revenue: HK$34.5b (down 1.8% from 1H 2025). Net income: HK$1.33b (down 24% from 1H 2025). Profit margin: 3.9% (down from 5.0% in 1H 2025). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Announcement • Nov 28
China Gas Holdings Limited Announces Interim Cash Dividend for the Six Months Ended 30 September 2025, Payable on 6 February 2026 China Gas Holdings Limited announced Interim cash dividend of HKD 0.15 per share for the six months ended 30 September 2025, Ex-dividend date is 5 January 2026. Record date 9 January 2026. Payment date is 6 February 2026. Announcement • Nov 13
China Gas Holdings Limited to Report First Half, 2026 Results on Nov 28, 2025 China Gas Holdings Limited announced that they will report first half, 2026 results on Nov 28, 2025 Announcement • Aug 21
China Gas Holdings Limited Approves Final Dividend for the Financial Year Ended 31 March 2025 China Gas Holdings Limited announced that at the AGM held on August 21, 2025, approved a final dividend of 35 HK cents per share for the financial year ended 31 March 2025. Upcoming Dividend • Aug 18
Upcoming dividend of HK$0.35 per share Eligible shareholders must have bought the stock before 25 August 2025. Payment date: 09 October 2025. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 8.3%. Within top quartile of Hong Kong dividend payers (6.7%). Higher than average of industry peers (4.9%). Reported Earnings • Jul 31
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: HK$0.60 (up from HK$0.59 in FY 2024). Revenue: HK$79.3b (down 2.6% from FY 2024). Net income: HK$3.25b (up 2.1% from FY 2024). Profit margin: 4.1% (up from 3.9% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 14%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 04
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from HK$82.6b to HK$79.7b. EPS estimate also fell from HK$0.758 per share to HK$0.654 per share. Net income forecast to grow 7.6% next year vs 9.8% growth forecast for Gas Utilities industry in Hong Kong. Consensus price target broadly unchanged at HK$7.50. Share price rose 6.0% to HK$7.79 over the past week. Declared Dividend • Jun 30
Final dividend of HK$0.35 announced Dividend of HK$0.35 is the same as last year. Ex-date: 25th August 2025 Payment date: 9th October 2025 Dividend yield will be 6.8%, which is higher than the industry average of 5.7%. Sustainability & Growth The dividend has increased by an average of 19% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 28% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 29
China Gas Holdings Limited Proposes Final Dividend for the Financial Year Ended 31 March 2025, Payable on 09 October 2025 China Gas Holdings Limited proposed a final dividend of HKD 0.35 per share for the financial year ended 31 March 2025. The dividend is classified as an ordinary dividend. The ex-dividend date is set for 25 August 2025, and shareholders must lodge transfer documents for registration by 16:30 on 26 August 2025 to determine their entitlement to the dividend. The book close period will be from 27 August 2025 to 29 August 2025, with the record date on 29 August 2025. The payment date for the dividend is scheduled for 09 October 2025. Reported Earnings • Jun 28
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: EPS: HK$0.60 (up from HK$0.59 in FY 2024). Revenue: HK$79.3b (down 2.6% from FY 2024). Net income: HK$3.25b (up 2.1% from FY 2024). Profit margin: 4.1% (up from 3.9% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 15%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Announcement • Jun 27
China Gas Holdings Limited, Annual General Meeting, Aug 21, 2025 China Gas Holdings Limited, Annual General Meeting, Aug 21, 2025. Announcement • Jun 10
China Gas Holdings Limited to Report Fiscal Year 2025 Results on Jun 27, 2025 China Gas Holdings Limited announced that they will report fiscal year 2025 results on Jun 27, 2025 Announcement • Jan 06
China Gas Holdings Limited Announces Board and Committee Changes The board of directors of China Gas Holdings Limited announced that Mr. Jiang Xinhao has resigned as a non-executive director of the Company and the chairman of the Corporate Governance and Risk Control Committee, each with effect from 6 January 2025, due to his retirement. The Board further announces that following the resignation of Mr. Jiang, Ms. Chen Yanyan, an independent non-executive director and member of the CGRC Committee, has been appointed as the chairman of the CGRC Committee, with effect from 6 January 2025. Upcoming Dividend • Dec 30
Upcoming dividend of HK$0.15 per share Eligible shareholders must have bought the stock before 06 January 2025. Payment date: 18 February 2025. Payout ratio is on the higher end at 86%, and the cash payout ratio is above 100%. Trailing yield: 7.4%. Lower than top quartile of Hong Kong dividend payers (8.0%). Higher than average of industry peers (5.2%). Declared Dividend • Dec 02
First half dividend of HK$0.15 announced Dividend of HK$0.15 is the same as last year. Ex-date: 6th January 2025 Payment date: 18th February 2025 Dividend yield will be 8.0%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by both earnings (86% earnings payout ratio) and cash flows (51% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 42% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 30
First half 2025 earnings released: EPS: HK$0.33 (vs HK$0.34 in 1H 2024) First half 2025 results: EPS: HK$0.33 (down from HK$0.34 in 1H 2024). Revenue: HK$35.1b (down 2.6% from 1H 2024). Net income: HK$1.76b (down 3.8% from 1H 2024). Profit margin: 5.0% (in line with 1H 2024). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. Announcement • Nov 29
China Gas Holdings Limited Announces Interim Cash Dividend for the Six Months Ended 30 September 2024, Payable on 18 February 2025 China Gas Holdings Limited announced Interim cash dividend of HKD 0.15 per share for the six months ended 30 September 2024 Ex-dividend date is 06 January 2025. Record date 10 January 2025. Payment date is 18 February 2025. Announcement • Nov 11
China Gas Holdings Limited to Report Q2, 2025 Results on Nov 29, 2024 China Gas Holdings Limited announced that they will report Q2, 2025 results on Nov 29, 2024 Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to HK$6.96, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 60% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$7.23, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 9x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 59% over the past three years. Announcement • Aug 21
China Gas Holdings Limited Approves Final Dividend China Gas Holdings Limited at its AGM held on August 21, 2024 approved final dividend of 35 HongKong cents per share, with an option for scrip dividend. Upcoming Dividend • Aug 16
Upcoming dividend of HK$0.35 per share Eligible shareholders must have bought the stock before 23 August 2024. Payment date: 04 October 2024. Payout ratio is on the higher end at 85%, however this is supported by cash flows. Trailing yield: 7.0%. Lower than top quartile of Hong Kong dividend payers (8.2%). Higher than average of industry peers (5.2%). Reported Earnings • Jul 27
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: HK$0.59 (down from HK$0.80 in FY 2023). Revenue: HK$81.4b (down 12% from FY 2023). Net income: HK$3.18b (down 26% from FY 2023). Profit margin: 3.9% (down from 4.7% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 7.4%. Earnings per share (EPS) also missed analyst estimates by 25%. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 01
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from HK$92.0b to HK$84.5b. EPS estimate also fell from HK$0.909 per share to HK$0.816 per share. Net income forecast to grow 38% next year vs 8.9% growth forecast for Gas Utilities industry in Hong Kong. Consensus price target down from HK$8.48 to HK$8.15. Share price was steady at HK$7.00 over the past week. Declared Dividend • Jun 27
Final dividend reduced to HK$0.35 Dividend of HK$0.35 is 13% lower than last year. Ex-date: 23rd August 2024 Payment date: 4th October 2024 Dividend yield will be 7.2%, which is higher than the industry average of 5.7%. Sustainability & Growth Dividend is covered by both earnings (85% earnings payout ratio) and cash flows (39% cash payout ratio). The dividend has increased by an average of 19% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 25
China Gas Holdings Limited, Annual General Meeting, Aug 21, 2024 China Gas Holdings Limited, Annual General Meeting, Aug 21, 2024. Reported Earnings • Jun 25
Full year 2024 earnings released: EPS: HK$0.59 (vs HK$0.80 in FY 2023) Full year 2024 results: EPS: HK$0.59 (down from HK$0.80 in FY 2023). Revenue: HK$81.4b (down 12% from FY 2023). Net income: HK$3.18b (down 26% from FY 2023). Profit margin: 3.9% (down from 4.7% in FY 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 33% per year, which means it has not declined as severely as earnings. Announcement • Jun 24
China Gas Holdings Limited Proposes Final Dividend for the Year Ended 31 March 2024, Payable on 4 October 2024 China Gas Holdings Limited proposed final dividend for the year ended 31 March 2024 of HKD 0.35 per share. Ex-dividend date: 23 August 2024. Record date: 29 August 2024. Payment date: 4 October 2024. Date of shareholders' approval: 21 August 2024. Announcement • Jun 13
China Gas Holdings Limited to Report Fiscal Year 2024 Results on Jun 24, 2024 China Gas Holdings Limited announced that they will report fiscal year 2024 results on Jun 24, 2024 Upcoming Dividend • Dec 28
Upcoming dividend of HK$0.15 per share at 7.3% yield Eligible shareholders must have bought the stock before 04 January 2024. Payment date: 02 February 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 7.3%. Lower than top quartile of Hong Kong dividend payers (8.5%). Higher than average of industry peers (5.6%). Major Estimate Revision • Dec 05
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from HK$96.9b to HK$91.1b. EPS estimate also fell from HK$1.03 per share to HK$0.917 per share. Net income forecast to grow 92% next year vs 31% growth forecast for Gas Utilities industry in Hong Kong. Consensus price target down from HK$10.21 to HK$9.07. Share price rose 2.3% to HK$7.18 over the past week. Announcement • Dec 01
China Gas Holdings Limited Announces Board Changes The board of directors of China Gas Holdings Limited announced that Mr. Ayush Gupta has been appointed as a non-executive Director of the Company and a member of the Corporate Governance and Risk Control Committee with effect from 1 December 2023. Mr. Ayush Gupta, aged 52, is a director of GAIL (India) Limited, which is a company listed on the National Stock Exchange (NSE) of India Limited, since August 2022. He is also the chairman of GAIL Mangalore Petrochemicals Ltd. since November 2023 and a director in GAIL Gas Limited since July 2022, both being wholly-owned subsidiaries of GAIL (India) Limited. He has also served as a director of ONGC Tripura Power Company Ltd. since November 2023. Mr. Gupta received a Bachelor's degree in Electrical Engineering in 1993 from University of Roorkee India, a Master's degree in Business Administration in 2003 and a post-graduate diploma in Human Resource Management in 2023 both from Indira Gandhi National Open University. He has also completed The Chevening Rolls-Royce Science, Innovation & Policy Leadership Programme from Saïd Business School of University of Oxford in 2013. Mr. Gupta will serve as a member of the Corporate Governance and Risk Control Committee effective upon his appointment as a non-executive Director of the Company. He is entitled to an annual fee of HKD 66,000 for being a member of the Committee. The Board announces that Mr. Mahesh Vishwanathan Iyer (Mr. Iyer) has resigned as a non-executive Director of the Company and a member of the Corporate Governance and Risk Control Committee, each with effect from 1 December 2023, due to his retirement. Recent Insider Transactions • Nov 30
Executive Chairman recently bought HK$4.9m worth of stock On the 28th of November, Ming Hui Liu bought around 700k shares on-market at roughly HK$7.02 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ming Hui has been a buyer over the last 12 months, purchasing a net total of HK$16m worth in shares. Announcement • Nov 30
China Gas Holdings Limited Announces an Interim Dividend for the Six-Month Ended 30 September 2023, Payable on 2 February 2024 China Gas Holdings Limited announced an interim dividend of HKD 0.15 per share for the six-month ended 30 September 2023. Ex-dividend date is 4 January 2024. Record date is 10 January 2024. Payment date is 2 February 2024. Reported Earnings • Nov 29
First half 2024 earnings released: EPS: HK$0.34 (vs HK$0.60 in 1H 2023) First half 2024 results: EPS: HK$0.34 (down from HK$0.60 in 1H 2023). Revenue: HK$36.0b (down 16% from 1H 2023). Net income: HK$1.83b (down 44% from 1H 2023). Profit margin: 5.1% (down from 7.6% in 1H 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 36% per year whereas the company’s share price has fallen by 37% per year. Price Target Changed • Nov 28
Price target decreased by 7.6% to HK$9.43 Down from HK$10.21, the current price target is an average from 18 analysts. New target price is 34% above last closing price of HK$7.02. Stock is down 24% over the past year. The company is forecast to post earnings per share of HK$0.94 for next year compared to HK$0.80 last year. Announcement • Nov 14
China Gas Holdings Limited to Report First Half, 2024 Results on Nov 27, 2023 China Gas Holdings Limited announced that they will report first half, 2024 results on Nov 27, 2023 Announcement • Aug 24
China Gas Holdings Limited Approves Final Dividend for the Year Ended 31 March 2023 China Gas Holdings Limited approved final dividend of 40 HK cents per share for the year ended 31 March 2023. Upcoming Dividend • Aug 18
Upcoming dividend of HK$0.40 per share at 6.0% yield Eligible shareholders must have bought the stock before 25 August 2023. Payment date: 03 October 2023. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of Hong Kong dividend payers (7.8%). Higher than average of industry peers (4.9%). Major Estimate Revision • Jul 03
Consensus EPS estimates fall by 23% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from HK$103.9b to HK$98.5b. EPS estimate also fell from HK$1.36 per share to HK$1.04 per share. Net income forecast to grow 34% next year vs 31% growth forecast for Gas Utilities industry in Hong Kong. Consensus price target down from HK$11.86 to HK$11.22. Share price rose 2.7% to HK$9.09 over the past week. Reported Earnings • Jun 27
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: HK$0.80 (down from HK$1.39 in FY 2022). Revenue: HK$92.0b (up 4.3% from FY 2022). Net income: HK$4.29b (down 44% from FY 2022). Profit margin: 4.7% (down from 8.7% in FY 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 4.0%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 26% per year. Announcement • Jun 10
China Gas Holdings Limited to Report Fiscal Year 2023 Results on Jun 26, 2023 China Gas Holdings Limited announced that they will report fiscal year 2023 results on Jun 26, 2023 Recent Insider Transactions • Jan 30
Executive Chairman recently bought HK$5.0m worth of stock On the 26th of January, Ming Hui Liu bought around 400k shares on-market at roughly HK$12.46 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Ming Hui's only on-market trade for the last 12 months. Upcoming Dividend • Dec 29
Upcoming dividend of HK$0.10 per share Eligible shareholders must have bought the stock before 05 January 2023. Payment date: 03 February 2023. Payout ratio is a comfortable 44% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of Hong Kong dividend payers (8.4%). Higher than average of industry peers (4.0%). 
