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Tian Lun Gas Holdings Limited
(1600)
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Rating:51Neutral
Price Target:
HK$3.00
â–²(12.78% Upside)
Action:Reiterated
Date:08/04/26
The score is held back primarily by weakened financial performance in 2025 (sharp net margin and ROE compression and a large drop in free cash flow), alongside a high P/E that looks stretched relative to recent profitability. Technical signals are broadly neutral with only mild negative momentum, and the dividend yield offers partial support.
Positive Factors
Regulated, recurring city-gas franchise
Tian Lun operates regulated downstream city-gas concessions and supplies residential, commercial and industrial customers. That business model creates recurring, utility-like revenue streams and steady demand exposure, supporting predictable cash flows and resilience over the next 2–6 months.
Negative Factors
Sharp margin and ROE compression
A collapse in net margin and ROE signals materially weaker earnings power and reduces internal capital available for reinvestment or dividends. If pricing, procurement costs or one-off items persist, the company's long-term return profile and shareholder value generation are constrained.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated, recurring city-gas franchise
Tian Lun operates regulated downstream city-gas concessions and supplies residential, commercial and industrial customers. That business model creates recurring, utility-like revenue streams and steady demand exposure, supporting predictable cash flows and resilience over the next 2–6 months.
Read all positive factors
Tian Lun Gas Holdings Limited (1600) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.60B
Dividend Yield4.22%
Average Volume (3M)553.94K
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth1.66%
EPS Growth-116.91%
CountryHK
Employees3,060
SectorUtilities
Sector Strength65
IndustryRegulated Gas
Share Statistics
EPS (TTM)0.04
Shares Outstanding973,461,600
10 Day Avg. Volume613,650
30 Day Avg. Volume553,938
Financial Highlights & Ratios
PEG Ratio-0.89
Price to Book (P/B)0.51
Price to Sales (P/S)0.38
P/FCF Ratio7.89
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.37
Revenue Forecast (FY)HK$8.20B
Tian Lun Gas Holdings Limited Business Overview & Revenue Model
Company Description
Tian Lun Gas Holdings Limited, alongside its subsidiaries, primarily operates in the People's Republic of China, concentrating on the transport, distribution, and retail of natural gas and compressed natural gas through its extensive pipeline netw...
How the Company Makes Money
The company primarily makes money through downstream city gas operations. Key revenue streams typically include: (1) Natural gas sales: recurring revenue from selling piped natural gas to end users (residential, commercial and industrial). Earning...
Tian Lun Gas Holdings Limited Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
56
Neutral
Cash Flow
52
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 7.94B | 7.78B | 7.73B | 7.54B | 7.65B |
| Gross Profit | 1.11B | 1.34B | 1.45B | 1.39B | 1.78B |
| EBITDA | 793.62M | 1.30B | 1.46B | 1.37B | 1.81B |
| Net Income | 38.63M | 300.99M | 479.56M | 444.60M | 1.00B |
Balance Sheet | |||||
| Total Assets | 15.40B | 15.91B | 15.69B | 15.96B | 15.10B |
| Cash, Cash Equivalents and Short-Term Investments | 1.63B | 1.12B | 978.64M | 1.35B | 1.05B |
| Total Debt | 6.89B | 7.01B | 6.81B | 7.21B | 6.32B |
| Total Liabilities | 9.27B | 9.65B | 9.58B | 10.14B | 9.58B |
| Stockholders Equity | 5.83B | 5.94B | 5.80B | 5.51B | 5.22B |
Cash Flow | |||||
| Free Cash Flow | 380.63M | 614.05M | 701.96M | 303.68M | -9.88M |
| Operating Cash Flow | 601.65M | 918.28M | 1.02B | 689.22M | 405.77M |
| Investing Cash Flow | -221.84M | -367.69M | -312.19M | -465.90M | -1.42B |
| Financing Cash Flow | -315.57M | -409.71M | -1.08B | 99.34M | 394.50M |
Tian Lun Gas Holdings Limited Technical Analysis
Positive
2.66
Price Trends
2.70
Positive
2.73
Negative
2.81
Negative
Market Momentum
>-0.01
Negative
55.74
Neutral
79.81
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1600, the sentiment is Positive. The current price of 2.66 is above the 20-day moving average (MA) of 2.66, below the 50-day MA of 2.70, and below the 200-day MA of 2.81, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 55.74 is Neutral, neither overbought nor oversold. The STOCH value of 79.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1600.
Tian Lun Gas Holdings Limited Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
63 Neutral | HK$39.72B | 11.13 | 7.90% | 5.47% | 0.94% | 17.12% | |
60 Neutral | HK$11.68B | 7.23 | 5.79% | 6.25% | 2.60% | -11.05% | |
55 Neutral | HK$31.30B | 10.99 | 4.80% | 6.24% | -7.13% | -16.53% | |
52 Neutral | HK$58.04B | 7.97 | 12.80% | 5.83% | 5.69% | 8.67% | |
51 Neutral | HK$2.60B | -44.85 | -0.86% | 4.22% | 1.66% | -116.91% | |
41 Neutral | HK$7.63B | 33.55 | 2.98% | 1.07% | -6.70% | 50.09% |
* Utilities Sector Average
HK:1600
Tian Lun Gas Holdings Limited
2.70
-1.87
-40.97%
HK:0384
China Gas Holdings
5.61
-1.90
-25.28%
HK:1193
China Resources Gas Group
17.37
-2.31
-11.73%
HK:1083
Towngas China Co
3.04
-0.68
-18.30%
HK:2688
ENN Energy Holdings
51.45
-10.88
-17.46%
HK:3633
Zhongyu Gas Holdings Limited
2.80
-0.84
-23.15%
Tian Lun Gas Holdings Limited Corporate Events
Tian Lun Gas Revamps Total Return Swap Terms and Adds New Risk Controls
Jun 24, 2026
Tian Lun Gas Holdings Limited has amended its existing total return swap arrangements with Hantec Securities Co., Limited, executing a new deed on 24 June 2026 to restate and modify key terms of three previously announced transactions. The changes...
Tian Lun Gas Updates Final Dividend Details for FY2025
May 26, 2026
Tian Lun Gas Holdings Limited has updated details of its final dividend for the financial year ended 31 December 2025, confirming a payout of RMB 0.0557 per share, with shareholder approval obtained on 15 May 2026. The dividend will be paid in Hon...
Tian Lun Gas Shareholders Clear All AGM Resolutions, Approve Dividend and Mandates
May 15, 2026
Shareholders of Tian Lun Gas Holdings Limited approved all resolutions at the annual general meeting held on 15 May 2026 in Zhengzhou, Henan, with all items passing by poll vote. The meeting endorsed the audited financial statements for the year e...
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.