City-Gate Price Cut Reaffirms Our Positive Outlook On Gas Distributors; Neutral On Midstream Players
We believe the recent cut of CNY 0.10 per cubic meter in the city-gate price effective Sept. 1 for non-residential users is a positive development...
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Impact of Return Cap for China's City Gas Distributors Hinges on Connection Fee Treatment
The shares of China city gas distributors took a hit May 15 following news that the government may impose a 6% cap on the annual rate of return on...
232 Views
China Resources Gas' 2016 Results Underpinned by Robust Volume Growth; Shares Remain Undervalued
Narrow-moat China Resources Gas’, or CRG’s, 2016 net profit of CNY 3.29 billion was within our expectations, and we leave our earnings forecasts...
168 Views
ENN Energy: Golden Long-Term Opportunity as Top Chinese Gas Distributor Valuation Hit Multi-Year Low
Energy Holdings Ltd (2688 HK) (“ENN”) is the largest privately-owned gas distributor in China. Despite China’s determination to lower pollution...
254 Views