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Citi Initiate BGBS with a Buy Rating and Target Price of HK$0.4


Redaksi | Rabu,09 Januari 2019 - 02:07:11 WIB
Dibaca: 290 kali 
Citi Initiate BGBS with a Buy Rating and Target Price of HK$0.4

HONG KONG, CHINA - Media OutReach - 8 January 2019 - Citi issued a research report on Beijing Gas Blue Sky Holdings Limited ("the Company" or "Beijing Gas Blue Sky", together with its subsidiaries, the "Group", HKSE stock code: 6828) today, initiate it with a Buy rating and target price of HK$0.4.

Citi expects BGBS to complete at least five acquisitions in 2019-20E and will gain superior profit growth in expansion. It expects that, BGBS EPS will grow at 60% CAGR in 2018-20E, driven by profit contribution from its 29% owned Caofeidian LNG terminal, and gas sales volume growing at 145% 2018-20E CAGR.

With strong support from Beijing Gas Group, largest shareholder of BGBS, Citi expects more quality asset injections will happen in the future. It also expects that, Beijing Gas Group will consolidate BGBS as a subsidiary so that BGBS could obtain better financing terms with SOE connections. The report stated that, the recent share price volatility looks unrelated to its fundamentals. It is optimistic with BGBS's future development and expects the Company to issue a positive alert.

About Beijing Gas Blue Sky Holdings Limited
Beijing Gas Blue Sky Holdings Limited ("Beijing Gas Blue Sky", HKSE stock code: 6828) is an integrated natural gas provider, distributor and operator, with an emphasis on the midstream and downstream natural gas development. Our natural gas business includes: (i) construction and operation of compressed natural gas ("CNG") and liquefied natural gas ("LNG") refueling stations for vehicles; (ii) construction of natural gas pipelines and operation of city gas projects by providing piped gas; (iii) direct supply of LNG to end-users; and (iv) trading and distribution of CNG and LNG.

The Group has adapted to the "One Belt One Road" policy, and focus on operating and investing natural gas business. The Group is actively expanding its business development and distribution, as well as continues to gradually expanding the scale of operations. Currently, the Group has business presence in several provinces in Northeast China, East China, Central South China and Southwest China, including Liaoning Province, Jilin Province, Shandong Province, Shanxi Province, Anhui Province, Zhejiang Province, Hubei Province, Guizhou Province, Sichuan Province and Hainan Province, etc. The Group is committed to its vision: "develop clean energy, enhance customer value, create a beautiful blue sky". In the future, it will continue to actively investing and developing natural gas business, as well as participating in the development of natural gas industry value chain.


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