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China Resources Gas Group
(1193)
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Rating:61Neutral
Price Target:
HK$18.50
â–²(14.20% Upside)
Action:Reiterated
Date:08/06/26
The score reflects stable but deteriorating operating performance (margin/ROE compression and a small revenue decline) offset by a solid balance sheet and improved 2025 free cash flow. Valuation is a clear positive (low P/E and high dividend yield), while technicals remain mixed with the stock still below key longer-term moving averages.
Positive Factors
Manageable leverage
Lower leverage and equity growth provide a more resilient capital base for a regulated utility. This should preserve financial flexibility for network investment and help the company absorb operating pressure without balance-sheet stress.
Negative Factors
2025 revenue decline
The recent revenue contraction indicates that customer additions, consumption, pricing, or connection activity did not provide positive top-line momentum. If this persists, slower scale growth could limit operating leverage and reduce the resources available for expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable leverage
Lower leverage and equity growth provide a more resilient capital base for a regulated utility. This should preserve financial flexibility for network investment and help the company absorb operating pressure without balance-sheet stress.
Read all positive factors
China Resources Gas Group (1193) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$39.72B
Dividend Yield5.47%
Average Volume (3M)3.28M
Price to Earnings (P/E)11.1
Beta (1Y)0.68
Revenue Growth0.94%
EPS Growth17.12%
CountryHK
Employees55,928
SectorUtilities
Sector Strength65
IndustryRegulated Gas
Share Statistics
EPS (TTM)N/A
Shares Outstanding2,314,013,000
10 Day Avg. Volume4,245,646
30 Day Avg. Volume3,284,899
Financial Highlights & Ratios
PEG Ratio-1.05
Price to Book (P/B)1.17
Price to Sales (P/S)0.53
P/FCF Ratio16.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$18.88Price Target Upside16.51% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
China Resources Gas Group Business Overview & Revenue Model
Company Description
China Resources Gas Group Limited, an investment holding company, engages in the sale of natural and liquefied gas and connection of gas pipelines. The company operates through Sale and Distribution of Gas Fuel and Related Products, Gas Connection...
How the Company Makes Money
China Resources Gas Group primarily makes money through regulated and contract-based energy supply and related service fees tied to its city gas operations.
1) Gas sales to end-users (core recurring revenue)
- Piped natural gas sales: The company...
China Resources Gas Group Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
59
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 97.73B | 102.68B | 101.27B | 94.34B | 79.64B |
| Gross Profit | 17.42B | 18.26B | 18.45B | 17.97B | 19.10B |
| EBITDA | 9.79B | 10.17B | 13.24B | 12.02B | 13.14B |
| Net Income | 3.55B | 4.09B | 5.22B | 4.73B | 6.40B |
Balance Sheet | |||||
| Total Assets | 136.41B | 132.48B | 137.87B | 112.05B | 106.14B |
| Cash, Cash Equivalents and Short-Term Investments | 8.95B | 7.53B | 10.81B | 6.44B | 10.09B |
| Total Debt | 24.15B | 23.52B | 27.12B | 22.97B | 12.01B |
| Total Liabilities | 67.51B | 68.51B | 74.49B | 59.76B | 52.10B |
| Stockholders Equity | 44.18B | 41.17B | 40.77B | 39.33B | 41.26B |
Cash Flow | |||||
| Free Cash Flow | 3.06B | 2.80B | 4.51B | -2.14B | 2.85B |
| Operating Cash Flow | 6.31B | 7.00B | 10.16B | 4.28B | 8.80B |
| Investing Cash Flow | -3.82B | -2.23B | -4.53B | -15.13B | -11.14B |
| Financing Cash Flow | -3.17B | -7.43B | -1.96B | 7.62B | -3.35B |
China Resources Gas Group Technical Analysis
Positive
16.20
Price Trends
15.95
Positive
16.75
Positive
18.65
Negative
Market Momentum
0.25
Negative
69.97
Neutral
70.68
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1193, the sentiment is Positive. The current price of 16.2 is below the 20-day moving average (MA) of 16.29, above the 50-day MA of 15.95, and below the 200-day MA of 18.65, indicating a neutral trend. The MACD of 0.25 indicates Negative momentum. The RSI at 69.97 is Neutral, neither overbought nor oversold. The STOCH value of 70.68 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1193.
China Resources Gas Group Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$58.04B | 7.97 | 12.80% | 5.99% | 5.69% | 8.67% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
61 Neutral | HK$39.72B | 11.13 | 7.90% | 5.50% | 0.94% | 17.12% | |
60 Neutral | HK$11.68B | 7.23 | 5.79% | 6.25% | 2.60% | -11.05% | |
59 Neutral | HK$31.30B | 10.99 | 4.80% | 6.24% | -7.13% | -16.53% | |
59 Neutral | HK$136.22B | 20.94 | 10.65% | 4.77% | 1.53% | 12.95% | |
48 Neutral | HK$14.78B | 42.53 | 3.71% | 2.45% | 6.15% | -21.68% |
* Utilities Sector Average
HK:1193
China Resources Gas Group
17.37
-1.87
-9.74%
HK:0384
China Gas Holdings
5.61
-1.74
-23.74%
HK:0003
Hong Kong & China Gas Co
7.33
0.63
9.35%
HK:1083
Towngas China Co
3.04
-0.63
-17.26%
HK:2688
ENN Energy Holdings
51.45
-10.88
-17.46%
HK:1635
Shanghai Dazhong Public Utilities (Group) Co., Ltd. Class H
2.35
-0.12
-4.95%
China Resources Gas Group Corporate Events
China Resources Gas Subsidiary Posts Higher Revenue but Lower Profit in H1 2026
Aug 31, 2026
China Resources Gas Group disclosed unaudited interim financial figures for its wholly owned mainland subsidiary, China Resources Gas Investment (China) Company Limited, for the six months ended 30 June 2026. The publication complies with PRC regu...
China Resources Gas Declares Interim Dividend With HKD/RMB Option
Aug 28, 2026
China Resources Gas Group Limited, a major Hong Kong-listed natural gas distributor serving residential, commercial, and industrial users in mainland China, continues to play a central role in the country’s urban energy supply and clean fuel...
China Resources Gas posts steady first-half 2026 results with modest growth
Aug 28, 2026
China Resources Gas Group reported interim results for the six months ended 30 June 2026 showing modest top- and bottom-line growth, with revenue rising 5.2% year on year to HK$53.38 billion and profit attributable to shareholders edging up 1% to ...
Chongqing Gas Posts Profit Decline but Strong Cash Flow for First Half of 2026
Aug 21, 2026
China Resources Gas Group’s subsidiary Chongqing Gas Group, a Shanghai-listed city gas utility, reported a modest 1% rise in total assets and a slight 0.18% increase in net assets attributable to shareholders as of June 30, 2026, underscorin...
China Resources Gas Completes RMB2.5 Billion Third-Tranche Medium Term Note Issuance
Aug 7, 2026
China Resources Gas Group Limited, a Hong Kong-listed natural gas distributor with operations across mainland China, finances its gas infrastructure and distribution business through onshore renminbi debt issued by wholly owned subsidiaries. The g...
China Resources Gas Sets Board Meeting to Review Interim Results and Dividend
Jul 30, 2026
China Resources Gas Group Limited has scheduled a board meeting for August 28, 2026 to review the unaudited interim results for the six months ended June 30, 2026. The board will also consider declaring an interim dividend, signaling potential ret...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.