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News From Hong Kong

  • Written by Media Outreach

HONG KONG, CHINA - Media OutReach - 19 December 2017 -- China Investment Securities issued a research report on Beijing Gas Blue Sky Holdings Limited ("the Company" or "BGBS", together with its subsidiaries, the "Group", HKSE: 6828), and rated the Company "Strong Buy" with target price of HK$0.7.

 

Currently, the Company is covering the entire natural gas industry chain. China Investment Securities expects that the completion of the acquisition of a number of projects in Jilin and Shanxi, as well as the Guangxi Tengxian Project in the next year, will greatly increase the gas sales volume of the Company in 2018. The Company has signed a Memorandum of Understanding to acquire 29% equity interest in a liquefied natural gas (LNG) terminal in Caledonian, Jingtang, Hebei Province. The LNG terminal is one of four LNG receiving stations in North China with a total construction scale of handling capacity of 10 million tons per year, and a daily maximum gasification capacity of 23 million cubic meters. It is an important source of gas supply for North China and Beijing, which can guarantee the upstream gas source of the Company. As of the date of issuing the report, Beijing Gas owns 26.87% equity interest in the Company, it is expected to be increased to over 40% after the completion of the acquisition of the Caofeidian terminal and Guangxi Tengxian project, which can further enhance its position as the Company's single largest shareholder. 

 

The report stated that it is a must to increase the import of LNG to ease the uneven supply and demand in the natural gas industry in the PRC. As a natural gas supplier with upstream gas source receiving facilities, the company will probably be the main beneficiary. China Investment Securities rated Beijing Gas Blue Sky "strongly buy" with target price of HK$0.7.

 

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, Shandong 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. 

Authors: Media Outreach

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