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...
354 Views
ENN Energy Reports Solid 2016 Results; Shares Remain Undervalued
Narrow moat-rated ENN Energy posted 2016 net profit of CNY 2.15 billion, up 5.6% year over year. Excluding other gains and losses, which include...
240 Views
Softening Coal Prices and Improving Demand Will Drive a Better 2017 Outlook for Coal-Fired IPPs.
Despite improving power demand, China’s coal-fired independent power producers’, or IPPs’, fourth-quarter profits are set to be hit by surging coal...
8.1k 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...
357 Views
Raising Fair Value Estimates for City Gas Operators After Extending Our Forecast Periods
After extending our explicit forecast periods to 10 years from five years, w e have raised our fair value estimate for China Gas Holdings Ltd (384...
800 Views