China Gas Holdings Ltd

00384: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	HK$51.30	Mrgnxc	Fkywyrrt

China Gas Holdings Remains Undervalued; Underpinned by Attractive Dividend Yield

Chokwai Lee

Jun 25, 2024

Business Strategy and Outlook

China Gas Holdings, or CGH, is involved in the wholesale and retail businesses of natural gas and liquefied petroleum gas, or LPG, in China. The firm benefits from exclusive city gas concession rights and efficient scale. In the past, CGH aggressively expanded into rural city gas projects, resulting in a stretched balance sheet compared with its peers. The firm now focuses on the asset-light value-added services, and integrated energy businesses.

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