Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

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Event-Driven

Henderson Land Development / Event-Driven

<ul><li class="p1">For full-year 2015, Henderson Land Development reported an underlying profit of HKD 11 billion, up 12% year on year, but 4% below our estimate of HKD 11.5 billion.</li><li class="p1">Underlying EPS was HKD 3.33, up 11% year on year.</li><li class="p1">Overall the results are slightly below our expectations.</li></ul>Analysts: Philip Zhong

For full-year 2015, Henderson Land Development reported an underlying profit of HKD 11 billion, up 12% year on year, but 4% below our estimate of HKD 11.5 billion.Underlying EPS was HKD 3.33, up 11% year on year.Overall the results are slightly below our expectations.Analysts: Philip Zhong

Results Reasonable, but Property Sales May Slow in 2016

Equity Bottom-Up

<ul><li class="p1">We recently reviewed Hong Kong and China Gas' business, and we remain comfortable with our overall business outlook.</li><li class="p1">We anticipate that the firm’s Hong Kong gas business will remain stable, providing resilient earnings and robust cash inflows, while its China gas distribution business continues to drive growth.</li></ul>Analyst: Jennifer Song

We recently reviewed Hong Kong and China Gas' business, and we remain comfortable with our overall business outlook.We anticipate that the firm’s Hong Kong gas business will remain stable, providing resilient earnings and robust cash inflows, while its China gas distribution business continues to drive growth.Analyst: Jennifer Song

Hong Kong

The Hong Kong and China Gas Company Limited produces, distributes, and markets gas and gas appliances to residential and industrial customers through its brands.The Company's subsidiaries develops gas projects in China and manages commercial properties.

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Hong Kong & China Gas (3 HK)

Results Reasonable, but Property Sales May Slow in 2016

For full-year 2015, Henderson Land Development reported an underlying profit of HKD 11 billion, up 12% year on year, but 4% below our estimate of...

Morningstar, Inc.

Overall Business Outlook Is Healthy

We recently reviewed Hong Kong and China Gas' business, and we remain comfortable with our overall business outlook. We anticipate that the firm’s...

Morningstar, Inc.

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