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The Screen · Utilities · Utilities - Regulated Gas
The Hong Kong and China Gas Company Limited
0003.HK · UNKNOWN · USD · Market cap $132.8B
The Hong Kong and China Gas Company Limited, together with its subsidiaries, produces, distributes, and markets gas, water supply and energy services in Hong Kong and Mainland China.
FAIL · Does not pass the screen
7.12 USD
Screen close, 2026-09-22 · not a live quote Last reviewed 13 days ago
Screened 2026-09-22 · the tape above runs as of 09:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 7.12 against the desk's fair-value range, base estimate 5.39, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price7.12 USD
Fair value5.39
Our investment reviews on this name
2026-10-02Read Distribution7.12+0.0% to today
2026-08-19Read Markup6.79+4.9% to today ✓
2026-07-02Read Markdown6.85+3.9% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
The Hong Kong and China Gas Company Limited holds its Distribution at $7.12. The statistical read favours the sellers, held for 2 days.
As held on the ledger · 2026-09-22
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 2 days
Price at the screen
$7.12
Valuation
20.93 trailing · 20.39 forward price to earnings
Values screen
FAIL
Beta
0.56
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
37.30%
Below 33%
Interest-bearing debt is 37.3% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.98%
Below 33%
Cash held in interest-bearing accounts and securities is 1.0% of assets, under the one-third limit.
Pass
Receivables
7.30%
Below 49%
Money owed to the company is 7.3% of assets, under the 49% limit.
Pass
Revenue purity
0.17%
Below 5%
Only 0.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
The Hong Kong and China Gas's business is in a permissible area, but its interest-bearing debt is about 37% of the company, just over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-04. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-09-22 screen. The gold marker is the market price at the same screen. The price runs 24.3% above the base estimate.
Third-party analyst targets: 8 covering, consensus None. The average target sits +10% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-22 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The risks · The things to watch: its business and earnings are exposed to Hong Kong and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
0003.HK trades on UNKNOWN (the company is based in Hong Kong). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Distribution · changed$7.12+0.3%Entry 8
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (10 analysts) rates it none, with a mean price target of $7.
2026-09-18Markup$7.10+4.6%Entry 7
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (10 analysts) rates it none, with a mean price target of $7.
2026-08-19Markup · changed$6.79-0.2%Entry 6
The framework has shifted from markdown to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (10 analysts) rates it none, with a mean price target of $7.
2026-07-19Markdown$6.80-0.7%Entry 5
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.7% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (10 analysts) rates it none, with a mean price target of $7.
2026-07-18Markdown$6.85+0.0%Entry 4
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 1% above its long-term trend line with momentum reading oversold. Over the past year the shares are up 7%. Our forward projection puts the odds of a 10% gain over the next month near 8%. The street (10 analysts) rates it none, with a mean price target of $7.
2026-07-15Markdown$6.85+0.0%Entry 3
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-03Markdown$6.85+0.0%Entry 2
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markdown$6.85Entry 1
The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: PASS with ethical screening pending. The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
Latest News · What the Market Is Reading on 0003.HK