Stock 1193 CHINA RESOURCES GAS GROUP LIMITED
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Financials China Resources Gas Group Limited

Equities

1193

BMG2113B1081

Natural Gas Utilities

Market Closed - Hong Kong S.E.
Other stock markets
 01:38:42 28/06/2024 pm IST 		5-day change 1st Jan Change
27.35 HKD +0.92% Intraday chart for China Resources Gas Group Limited -0.55% +6.84%
21/06 China Resources Pharmaceutical Unit Renews Energy Purchase Contract with China Resources Gas Subsidiary MT
21/06 China Resources Gas Group Limited's Subsidiary Chenzhou China Resources Gas Company Limited to Supply Energy for Heating and Cooling, Steam and Electricity for Use At the Southern China Manufacturing Centre to China Resources Sanjiu Pharmaceutical Company Limited CI

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 95,188 95,453 1,01,932 67,801 59,239 63,288 - -
Enterprise Value (EV) 1 90,174 90,712 1,00,864 79,080 71,984 77,179 78,325 73,084
P/E ratio 18.4 x 17.9 x 15.6 x 14 x 11.1 x 11.3 x 10.2 x 9.31 x
Yield 2.03% 2.25% 2.88% 3.58% 4.52% 4.46% 5% 5.38%
Capitalization / Revenue 1.7 x 1.71 x 1.3 x 0.72 x 0.58 x 0.6 x 0.57 x 0.53 x
EV / Revenue 1.62 x 1.62 x 1.29 x 0.84 x 0.71 x 0.74 x 0.7 x 0.61 x
EV / EBITDA 8.94 x 8.52 x 7.67 x 7.03 x 6.45 x 5.76 x 5.42 x 4.83 x
EV / FCF 19.7 x 21.5 x 37.3 x -41.9 x - 23.4 x 22.9 x 15.4 x
FCF Yield 5.07% 4.66% 2.68% -2.39% - 4.27% 4.36% 6.5%
Price to Book 3.48 x 2.63 x 2.42 x 1.72 x - 1.43 x 1.34 x 1.26 x
Nbr of stocks (in thousands) 22,24,013 23,14,013 23,14,013 23,14,013 23,14,013 23,14,013 - -
Reference price 2 42.80 41.25 44.05 29.30 25.60 27.35 27.35 27.35
Announcement Date 27/03/20 26/03/21 18/03/22 31/03/23 28/03/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 55,835 55,864 78,175 94,338 1,01,272 1,04,781 1,11,898 1,20,440
EBITDA 1 10,091 10,643 13,144 11,255 11,163 13,396 14,454 15,127
EBIT 1 8,169 8,524 8,712 7,895 7,102 9,547 10,498 10,903
Operating Margin 14.63% 15.26% 11.14% 8.37% 7.01% 9.11% 9.38% 9.05%
Earnings before Tax (EBT) 1 8,391 8,990 11,184 8,616 8,909 9,582 10,528 11,578
Net income 1 5,043 5,151 6,395 4,733 5,224 5,559 6,216 6,822
Net margin 9.03% 9.22% 8.18% 5.02% 5.16% 5.31% 5.56% 5.66%
EPS 2 2.320 2.310 2.820 2.090 2.300 2.411 2.690 2.938
Free Cash Flow 1 4,571 4,227 2,707 -1,887 - 3,295 3,415 4,750
FCF margin 8.19% 7.57% 3.46% -2% - 3.14% 3.05% 3.94%
FCF Conversion (EBITDA) 45.3% 39.72% 20.6% - - 24.6% 23.63% 31.4%
FCF Conversion (Net income) 90.64% 82.06% 42.33% - - 59.28% 54.94% 69.63%
Dividend per Share 2 0.8700 0.9300 1.270 1.050 1.157 1.219 1.366 1.470
Announcement Date 27/03/20 26/03/21 18/03/22 31/03/23 28/03/24 - - -
1HKD in Million2HKD
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 S2 2022 S1 2022 S2 2023 S1 2023 S2
Net sales 1 27,663 22,572 33,292 34,416 43,759 48,101 46,238 48,370 52,902
EBITDA - - - - - - - - -
EBIT 1 3,720 3,735 4,790 5,273 4,121 4,790 3,106 - 2,713
Operating Margin 13.45% 16.55% 14.39% 15.32% 9.42% 9.96% 6.72% - 5.13%
Earnings before Tax (EBT) 1 - - 5,002 - - 5,147 - 5,592 3,317
Net income 1 2,115 2,396 2,755 3,250 - 3,045 1,688 3,545 1,678
Net margin 7.65% 10.62% 8.27% 9.44% - 6.33% 3.65% 7.33% 3.17%
EPS 2 - - - 1.430 - - - - 0.7400
Dividend per Share 2 - - - - - - - - 1.007
Announcement Date 27/03/20 25/08/20 26/03/21 20/08/21 18/03/22 26/08/22 31/03/23 25/08/23 28/03/24
1HKD in Million2HKD
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - - 11,279 12,745 13,890 15,036 9,796
Net Cash position 1 5,013 4,741 1,068 - - - - -
Leverage (Debt/EBITDA) - - - 1.002 x 1.142 x 1.037 x 1.04 x 0.6476 x
Free Cash Flow 1 4,571 4,227 2,707 -1,887 - 3,295 3,415 4,750
ROE (net income / shareholders' equity) 19.8% 16.3% 16.5% 11.7% 13% 12.3% 12.6% 12.8%
ROA (Net income/ Total Assets) 6.52% 5.86% 6.4% 4.34% 4.18% 4.22% 4.43% 4.61%
Assets 1 77,298 87,848 1,00,004 1,09,093 1,25,089 1,31,761 1,40,450 1,47,843
Book Value Per Share 2 12.30 15.70 18.20 17.00 - 19.10 20.40 21.70
Cash Flow per Share 2 3.900 3.860 3.700 1.920 4.480 4.620 5.110 5.500
Capex 1 3,920 4,389 5,683 6,239 - 6,763 7,220 7,149
Capex / Sales 7.02% 7.86% 7.27% 6.61% - 6.45% 6.45% 5.94%
Announcement Date 27/03/20 26/03/21 18/03/22 31/03/23 28/03/24 - - -
1HKD in Million2HKD
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for China Resources Gas Group Limited

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
22
Last Close Price
27.35 HKD
Average target price
28.43 HKD
Spread / Average Target
+3.96%
Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Natural Gas Distribution

1st Jan change Capi.
CHINA RESOURCES GAS GROUP LIMITED Stock China Resources Gas Group Limited
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