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China Gas Holdings Limited (0384.HK)

HKD5.59 +0.08 (+1.45%)
HK HKSE Utilities Regulated Gas
Address Capital Centre
Wan Chai, HK
CEO Ming Hui Liu
Website chinagasholdings.com.hk
IPO 1995-10-20
ISIN BMG2109G1033

Explore sections of this company profile

Also trades on Hong Kong Stock Exchange · 0384.HK (HKD) Other OTC · CGHLY (USD) Other OTC · CGHOF (USD)
Description

China Gas Holdings Limited operates as a leading gas utility and service provider across the People's Republic of China. The company's core activities involve the investment, construction, operation, and maintenance of comprehensive urban and regional gas pipeline networks, alongside gas terminals, storage, and transportation facilities, and integrated gas logistics systems. It delivers both natural gas and liquefied petroleum gas (LPG) to a wide array of residential, industrial, and commercial customers. Furthermore, China Gas builds and manages compressed natural gas (CNG) and liquefied natural gas (LNG) refueling stations. Beyond infrastructure, the company is engaged in developing technologies pertinent to natural gas and LPG. Its scope extends to investing in petrochemical storage and transport facilities, as well as the production and warehousing of LPG and chemical products such as propane and butane. The firm also participates in the exploration and production of coal bed methane (CBM) and offers administrative, management, and consultancy services for gas stations. Complementing its primary gas business, China Gas provides treasury, management, consultancy, and procurement services. It markets smart home solutions, functions as a gas insurance broker, and sells "Gasbo" brand gas heaters and kitchen appliances. The company is committed to clean energy development and investment, actively engages in the wholesale and trading of natural gas and liquefied natural gas, and sells electricity. Its product portfolio further includes gas meters, pressure regulators, corrugated pipes, gas alarms, and bottled gas. Additionally, the company is involved in the wholesale and retail of general household equipment, electric appliances, and kitchen appliances. As of March 31, 2022, China Gas served 19,808 industrial, 297,664 commercial, and an impressive 43,095,245 residential customers. At the same date, it managed a network of 533 CNG/LNG refilling stations. Incorporated in 1995, the company is headquartered in Wan Chai, Hong Kong.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
HKD5.59 +0.08 (+1.45%)
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Volume Profile
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Liquidity & share structure
Average Volume
13M
Beta
1.00
Float Shares
2.59B
Free Float %
47.6%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.76% -6.85% -4.55% -14.44% -19.42% -9.77% -3.21% -22.48% -76.06% -36.65% +450.00%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
5.59
DCF (Unlevered) 7.97 +42.5%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 63% Bullish
Rating 2026-05 Change
Strong Buy 2 0
Buy 8 0
Hold 3 -1
Sell 1 0
Strong Sell 2 0
Quality scores
Altman Z-Score
1.58
Distress
Piotroski F-Score
6 / 9
Average
MOAT Score
1 / 10
No MOAT
Composite Rating
B
Overall Score
3 / 5
Medium
DCF Score
1 / 5
Low
ROE Score
2 / 5
Medium
ROA Score
3 / 5
Medium
D/E Score
3 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
4 / 5
High
Operational MOAT
✗ Below peers
  • ✗
    Revenue growth Regulated Gas: +4.9%
    -7.1% Q1'26: -13.8% (vs Q1'24)
  • ✗
    EPS growth Regulated Gas: +13.8%
    -16.7% Q1'26: +4.0% (vs Q1'24)
  • ✓
    FCF margin FCF growth · Regulated Gas: +30.8%
    +8.1% ★ Q1'26: -4.8% (vs Q1'24)
  • ✗
    EBIT margin Regulated Gas: +12.9%
    +7.7% Q1'26: +6.9% (vs Q1'24)
  • ✗
    ROIC Regulated Gas: +4.7%
    +3.5% Q1'26: +6.8% (vs Q1'24)
  • ✗
    Share dilution Regulated Gas: 0.0%
    +0.2% Q1'26: -0.8% (vs Q1'24)
  • ✗
    Debt / EBITDA Net debt/EBITDA · Regulated Gas: 2.21×
    7.51× Q1'26: 3.88× (vs Q1'24)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
▶ WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.01) × ERP
WACC = 38% × Ke + 62% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
—
Intrinsic value (base): 8.01 Current price: 5.59
Enterprise Value: — Equity Value: — Terminal Value: — TV as % of EV: —

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2015
actual 		Mar 2016
actual 		Mar 2017
actual 		Mar 2018
actual 		Mar 2019
actual 		Mar 2020
actual 		Mar 2021
actual 		Mar 2022
actual 		Mar 2023
actual 		Mar 2024
actual 		Mar 2025
actual 		Mar 2026
16 Rev. Ana.
6 EPS Ana. 		Mar 2027
14 Rev. Ana.
1 EPS Ana. 		Mar 2028
13 Rev. Ana.
5 EPS Ana. 		Mar 2029
9 Rev. Ana.
1 EPS Ana. 		Mar 2030
12 Rev. Ana.
1 EPS Ana. 		Mar 2031
5 Rev. Ana.
2 EPS Ana.
Revenue
31.67B
est: 34.38B (-7.9%)
29.50B
est: 32.68B (-9.8%)
31.99B
est: 30.93B (+3.4%)
52.83B
est: 43.28B (+22.1%)
59.39B
est: 66.01B (-10.0%)
59.54B
est: 62.98B (-5.5%)
69.98B
est: 66.14B (+5.8%)
88.23B
est: 83.68B (+5.4%)
91.99B
est: 94.48B (-2.6%)
81.41B
est: 87.47B (-6.9%)
79.26B
est: 80.14B (-1.1%)
75.80B
73.59B – 80.19B
-5.4% YoY
76.02B
70.77B – 78.83B
+0.3% YoY
76.22B
68.58B – 82.48B
+0.3% YoY
75.48B
69.08B – 79.99B
-1.0% YoY
81.44B
74.54B – 86.30B
+7.9% YoY
83.01B
75.97B – 87.97B
+1.9% YoY
EBITDA
4.75B
est: 4.91B (-3.2%)
5.48B
est: 4.67B (+17.3%)
6.43B
est: 4.42B (+45.6%)
8.60B
est: 6.18B (+39.1%)
11.06B
est: 9.43B (+17.3%)
14.44B
est: 9.00B (+60.6%)
14.89B
est: 9.45B (+57.6%)
12.39B
est: 11.95B (+3.6%)
10.71B
est: 13.50B (-20.7%)
9.64B
est: 12.49B (-22.8%)
10.00B
est: 9.97B (+0.4%)
9.43B
9.15B – 9.97B
-5.4% YoY
9.45B
8.80B – 9.80B
+0.3% YoY
9.48B
8.53B – 10.26B
+0.3% YoY
9.39B
8.59B – 9.95B
-1.0% YoY
10.13B
9.27B – 10.73B
+7.9% YoY
10.32B
9.45B – 10.94B
+1.9% YoY
EBIT
3.87B
est: 3.78B (+2.4%)
4.56B
est: 3.59B (+27.0%)
5.47B
est: 3.40B (+60.9%)
7.42B
est: 4.76B (+56.0%)
12.47B
est: 7.26B (+71.7%)
14.11B
est: 6.93B (+103.8%)
15.51B
est: 7.27B (+113.2%)
12.24B
est: 9.20B (+33.0%)
7.89B
est: 10.39B (-24.0%)
6.73B
est: 9.62B (-30.0%)
6.99B
est: 7.13B (-2.0%)
6.74B
6.54B – 7.13B
-5.4% YoY
6.76B
6.29B – 7.01B
+0.3% YoY
6.78B
6.10B – 7.34B
+0.3% YoY
6.71B
6.14B – 7.11B
-1.0% YoY
7.24B
6.63B – 7.68B
+7.9% YoY
7.38B
6.76B – 7.82B
+1.9% YoY
Net Income
3.37B
est: 3.46B (-2.6%)
2.27B
est: 3.85B (-40.9%)
4.15B
est: 4.31B (-3.8%)
6.10B
est: 6.67B (-8.6%)
8.22B
est: 8.44B (-2.5%)
9.19B
est: 9.61B (-4.4%)
10.48B
est: 11.29B (-7.1%)
7.66B
est: 7.93B (-3.3%)
4.29B
est: 5.79B (-25.9%)
3.18B
est: 4.22B (-24.6%)
3.25B
est: 3.75B (-13.2%)
3.06B
2.61B – 3.27B
-18.3% YoY
3.06B
2.72B – 3.29B
-0.1% YoY
3.13B
2.54B – 3.55B
+2.3% YoY
3.06B
2.72B – 3.29B
-2.2% YoY
3.72B
3.31B – 4.01B
+21.8% YoY
3.88B
3.46B – 4.19B
+4.3% YoY
SGA
2.59B
est: 2.38B (+8.5%)
2.65B
est: 2.27B (+16.9%)
2.90B
est: 2.14B (+35.5%)
3.60B
est: 3.00B (+20.1%)
4.26B
est: 4.58B (-6.8%)
4.42B
est: 4.37B (+1.3%)
5.19B
est: 4.58B (+13.2%)
5.83B
est: 5.80B (+0.6%)
6.07B
est: 6.55B (-7.3%)
5.71B
est: 6.06B (-5.7%)
5.55B
est: 5.50B (+0.9%)
5.20B
5.05B – 5.50B
-5.4% YoY
5.22B
4.86B – 5.41B
+0.3% YoY
5.23B
4.71B – 5.66B
+0.3% YoY
5.18B
4.74B – 5.49B
-1.0% YoY
5.59B
5.12B – 5.92B
+7.9% YoY
5.70B
5.21B – 6.04B
+1.9% YoY
EPS
0.67
est: 0.64 (+4.3%)
0.46
est: 0.71 (-35.6%)
0.85
est: 0.80 (+6.2%)
1.23
est: 1.24 (-0.7%)
1.63
est: 1.57 (+4.0%)
1.76
est: 1.78 (-1.4%)
2.01
est: 2.10 (-4.1%)
1.39
est: 1.47 (-5.6%)
0.80
est: 1.08 (-25.6%)
0.59
est: 0.78 (-24.8%)
0.60
est: 0.69 (-13.6%)
0.57
0.48 – 0.61
-18.3% YoY
0.57
0.50 – 0.61
-0.1% YoY
0.58
0.47 – 0.66
+2.3% YoY
0.57
0.50 – 0.61
-2.2% YoY
0.69
0.61 – 0.74
+21.8% YoY
0.72
0.64 – 0.78
+4.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-28 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-27 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-26 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-22 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-21 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-20 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-19 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-18 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-15 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-14 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-13 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-12 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-11 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-08 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-07 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-06 B 3/5 1/5 2/5 3/5 3/5 3/5 4/5
2026-05-05 B- 3/5 1/5 2/5 3/5 2/5 3/5 4/5
2026-05-04 B- 3/5 1/5 2/5 3/5 2/5 3/5 4/5
2026-04-30 B- 3/5 1/5 2/5 3/5 2/5 3/5 4/5
2026-04-29 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-28 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-27 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-24 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-23 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-22 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-21 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-20 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-17 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5
2026-04-16 B 3/5 1/5 2/5 4/5 2/5 3/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-441.76M
OE per share TTM
-0.08
Owner's Yield
-1.18%
Maintenance CapEx ratio
372.36%
Maint CapEx / Avg PPE
83.3%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
—
Total invested
—
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 145 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Global X Hang Seng High Dividend Yield ETF (HKD) 3110.HK 2.04% 14.95M 0.68%
2 Global X - MSCI SuperDividend Emerging Markets ETF SDEM 1.40% 618.8K 0.66%
3 iShares Emerging Markets Infrastructure ETF EMIF 1.26% 165.9K 0.60%
4 Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF EMHD.L 0.78% 2.21M 0.49%
5 FlexShares International Quality Dividend Index Fund IQDF 0.55% 6.18M 0.49%
6 FlexShares International Quality Dividend Dynamic Index Fund IQDY 0.37% 409.1K 0.51%
7 Avantis Emerging Markets Small Cap Equity ETF AVEE 0.18% 220.0K 0.42%
8 VanEck - MSCI Multifactor Emerging Markets Equity ETF EMKT.AX 0.16% 801.7K 0.69%
9 BMO MSCI China Selection Equity Index ETF ZCH.TO 0.12% 95.2K 0.67%
10 UBS MSCI China Universal UCITS ETF USD dis CNSG.L 0.09% 200.5K 0.30%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
81.0K
Shares Outstanding
5.45B

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Ming Hui Liu Chief Executive, President & Executive Chairman 14M male
Yong Huang Executive President & Executive Director 12M male
Weiwei Zhu Chief Operating Officer & Executive Director 6M male
Chang Liu Vice President, Deputy GM of Capital Management Centre & Executive Director 3M female
Kun Zhao Vice President, Chief Compliance Officer & Executive Director 3M male
Mingxing Liu Executive Director 413.0K male
Ching Li Executive Director 413.0K female
Zhiyuan Gao Chief Financial Officer — male
Pui Ling Chan General Counsel & Company Secretary — female
Yaobo Deng Chief Strategy Officer — male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits

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