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TOWNGAS CHINA (港华燃气)
Main Activities: Utilities - Regulation and Administration of Communications, Electric, Gas, and Other Utilities
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Company Information |
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Full name Towngas China Company Limited (港华燃气有限公司) Previous name(s) Panva Gas Holdings Limited (2007) Headquarters 23rd Floor, 363 Java Road, North Point, Hong Kong.; Hong Kong |
Status: Listed Legal Form: Public Limited Company Operational Status: Operational ISIN CODE : KYG6890L1068 Financial Auditors: Deloitte Touche Tohmatsu (2009) Tel: (852) 2963-3298 |
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Company Description |
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Principally engaged in the sales and distribution of natural gas and liquefied petroleum gas (“LPG”) in the People＇s Republic of China (the “PRC”) including the provision of piped natural gas and LPG, construction of gas pipelines, the operation of city gas pipeline network, the operation of natural gas automobile refilling stations, and the sale of gas household appliances. Business Review - For the year ended December 31, 2009 Originating in 2008, the global |
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Company Analysis |
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Business Outlook - For the year ended December 31, 2009 Second West-to-East Gas Pipeline, which provides the city gas industry with sufficient natural gas sources to develop the downstream gas consumption markets, and create a more extensive platform for the Group in developing new markets. All these factors will contribute to far-reaching healthy development in the operating environment for China＇s city gas industry from 2010 onwards. In 2010, the Group will focus its work on the following areas: Through upgrading its corporate efficiency by performance management and business strategy implementation, the Group will brace itself for the new market opportunities arising from a new era of dual gas supplies on imported and domestically-produced gas. In developing new investments, the Group will leverage on the relative advantage it enjoys, from the large number of its subsidiaries and their diverse distribution across regions close to the West-to-East Pipeline and the Sichuan-to-East Pipeline, and the coastal liquefied natural gas receiving terminals. Based on this competitive edge, it will maximize potential of its existing investment projects, in an endeavor to explore new markets. In order to strengthen the competitiveness of its existing projects, the Group will draw on the robust strengths of HKCG. It will implement an investment strategy to achieve economic efficiency. With the adoption of a corporate culture approach, continual efforts will be made to upgrade the caliber of the Group＇s employees, in the areas of service quality, gas supply safety and market developments. Collectively, these initiatives will not only boost the Group＇s profitability but also establish a sustainable competitive edge for its employees and the Group, and secure a leading industry position for the Group, amid the rapid future developments propelled by diversified natural gas sources in China＇s city gas sector. Source: Towngas China (01083) Annual Results Announcement |
Key Executives |
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FULL COMPANY PROFILE
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2010 H1 (cons) |
2009 Y (cons) |
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| Audited | Audited | |
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| SHK-Listed Company Financials | SHK-Listed Company Financials | |
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| Unit | Thousands | Thousands |
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Balance Sheet
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Total Assets |
12,269,652 |
11,330,417 |
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Current Assets |
2,064,089 |
1,575,401 |
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| * All the accounts are in HKD. | ||
Income Statement
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Total Revenues |
1,239,565 |
2,025,482 |
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Net Profit (Loss) |
171,992 |
265,090 |
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| * All the accounts are in HKD. | ||
Ratios
| Profitabilty ratios | ||
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Return on Assets (ROA) |
1.57% |
2.75% |
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Annualised Return on Assets (ROA) |
3.14% |
2.75% |
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Return on Equity (ROE) |
2.7% |
4.53% |
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Annualised Return on Equity (ROE) |
5.4% |
4.53% |
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Return on Sales (ROS) |
15.51% |
15.41% |
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Return on Capital Employed |
2.1% |
3.4% |
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Gross Profit Margin |
38.55% |
41.92% |
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Operating Profit Margin |
10.5% |
12.11% |
| Efficiency Ratios | ||
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Accounts Receivable Turnover |
9.23x |
20.65x |
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Inventory Turnover |
9.02x |
18.77x |
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Current asset turnover |
0.60x |
1.29x |
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Fixed-asset turnover |
0.28x |
0.47x |
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Asset Turnover |
0.10x |
0.18x |
| Valuation figures and ratios | ||
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Earning Before Interests and Taxes (EBIT) |
310,621 |
530,731 |
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EBITDA |
404,857 |
707,530 |
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Enterprise value |
8,414,104 |
8,385,078 |
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Bookvalue (BV) |
7,114,038 |
6,888,123 |
| Liquidity Ratios | ||
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Current Ratio |
65.92% |
73.17% |
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Quick ratio |
61.53% |
68.16% |
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Doom's day ratio |
41.36% |
44.77% |
| Leverage Ratios | ||
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Leverage ratio |
172.47% |
164.49% |
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Debt to equity |
48.38% |
40.14% |
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Debt to total assets |
28.05% |
24.4% |
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Debt / Enterprise Value |
40.9% |
32.97% |
| Market ratios | ||
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Price/Book Ratio |
0.82 |
0.89 |
| Trend Ratios | ||
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Revenue Trend |
37.8% |
22.15% |
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Net Income Trend |
34.21% |
31.05% |
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