China Resources Gas Group Ltd

01193: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Comprehensive Services and Integrated Energy to Drive China Resources Gas' Growth

Chokwai Lee

Aug 31, 2026

Business Strategy and Outlook

China Resources Gas Group is a state-owned gas utilities group in China engaging in downstream city gas distribution. China’s goal to increase gas usage to 15% of the country’s energy sources by 2030 will continue to encourage long-term demand growth, in our view. We project CRG’s natural gas sales volume to grow at a 3.0% CAGR during 2025-30.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

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China Resources Gas Group Ltd

Comprehensive Services and Integrated Energy to Drive China Resources Gas' Growth

Business Strategy and Outlook

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