Private Companies Own 42% of The Hong Kong and China Gas Company Limited (HKG:3) Shares but Retail Investors Control 49% of the Company
Private Companies Own 42% of The Hong Kong and China Gas Company Limited (HKG:3) Shares but Retail Investors Control 49% of the Company
Key Insights
主要見解
- Hong Kong and China Gas' significant retail investors ownership suggests that the key decisions are influenced by shareholders from the larger public
- 50% of the business is held by the top 22 shareholders
- Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company
- 香港中華燃氣的重要零售投資者所有權表明,關鍵決策受到來自更大公衆的股東的影響。
- 22家最大的股東持有該企業的50%股權。
- 通過分析師預測數據和所有權研究,您可以更好地評估公司未來的業績。
If you want to know who really controls The Hong Kong and China Gas Company Limited (HKG:3), then you'll have to look at the makeup of its share registry. And the group that holds the biggest piece of the pie are retail investors with 49% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company.
如果你想知道誰真正控制香港中華燃氣控股有限公司(HKG:3),那麼你需要看看它的股份持有人註冊資料的組成。擁有最大份額的是零售投資者,佔股權的49%。換句話說,該集團有可能從其對該公司的投資中獲得或損失最多。
Private companies, on the other hand, account for 42% of the company's stockholders.
另一方面,私人公司佔據了公司42%的股東。
Let's delve deeper into each type of owner of Hong Kong and China Gas, beginning with the chart below.
讓我們深入探討香港中華燃氣的每一種所有者,首先看一下下面的圖表。
![ownership-breakdown](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240620/0-7262cbab17a8ebd361bbb64c4b2a8acc-0-2722f06018e9db0b7a3423c1276dea86.png/big)
What Does The Institutional Ownership Tell Us About Hong Kong and China Gas?
機構持股人有助於解答我們對香港中華燃氣的看法。我們可以看到香港中華燃氣確實擁有機構投資者,他們持有公司的大部分股份。這表明專業投資者對此公司有一定的信任。但是我們不能僅僅依靠這個事實,因爲機構有時也會犯錯誤,就像每個人都會犯錯誤一樣。當多個機構擁有一隻股票時,有一種被稱爲‘擁擠交易’的風險。當這樣的交易失敗時,多個方面可能會競相快速出售股票。這種風險在一家沒有增長曆史的公司中更高。你可以看到香港中華燃氣的歷史收益和營收如下圖所示,但請記住,故事總是更加複雜。
Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.
機構投資者通常將自己的回報與常見的指數回報進行比較。因此,他們通常會考慮購買包括在相關基準指數中的較大公司。
We can see that Hong Kong and China Gas does have institutional investors; and they hold a good portion of the company's stock. This suggests some credibility amongst professional investors. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Hong Kong and China Gas' historic earnings and revenue below, but keep in mind there's always more to the story.
我們可以看到,香港中華燃氣確實擁有機構投資者,他們持有公司的大部分股份。這表明專業投資者對此公司有一定的信任。但是我們不能僅僅依靠這個事實,因爲機構有時也會犯錯誤,就像每個人都會犯錯誤一樣。當多個機構擁有一隻股票時,有一種被稱爲‘擁擠交易’的風險。當這樣的交易失敗時,多個方面可能會競相快速出售股票。這種風險在一家沒有增長曆史的公司中更高。你可以看到香港中華燃氣的歷史收益和營收如下圖所示,但請記住,故事總是更加複雜。
![earnings-and-revenue-growth](https://usnewsfile.moomoo.com/public/MM-PersistNewsContentImage/7781/20240620/0-7262cbab17a8ebd361bbb64c4b2a8acc-1-d2c3c6ef924093d2661edccaaa0cda79.png/big)
Hong Kong and China Gas is not owned by hedge funds. Henderson Development Limited is currently the largest shareholder, with 42% of shares outstanding. The Vanguard Group, Inc. is the second largest shareholder owning 2.3% of common stock, and BlackRock, Inc. holds about 1.8% of the company stock.
香港中華燃氣不是由對沖基金持有的。首席股東是恒隆發展有限公司,持有該公司42%的股份。第二大股東是先鋒集團公司,持有2.3%的普通股,而黑石集團持有該公司的約1.8%的股份。
A closer look at our ownership figures suggests that the top 22 shareholders have a combined ownership of 50% implying that no single shareholder has a majority.
更詳細的所有權數字表明,前22名股東擁有50%的股權,這意味着沒有單一的股東擁有佔據優勢的地位。
While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. There are a reasonable number of analysts covering the stock, so it might be useful to find out their aggregate view on the future.
儘管研究公司的機構持股可以增加您的研究價值,但研究分析師的建議也是一個好習慣,以更深入地了解股票的預期表現。有相當數量的分析師關注該股,因此了解他們對未來的總體觀點可能很有用。
Insider Ownership Of Hong Kong and China Gas
香港中華燃氣的內部所有權:根據我們的數據,內部人士用自己的名義擁有的香港中華燃氣公司有限公司的股份不到1%。但是他們可能通過我們沒有掌握的公司結構間接擁有利益。這是一家非常大的公司,所以看到內部人士擁有公司的大量股份是令人驚訝的。儘管他們持股不到1%,但我們可以看到董事會成員集體擁有高達3.63億港元的股份(按當前股價計算)。看到董事會成員擁有股份是件好事,但值得檢查的是,那些內部人士是否一直在買入。
While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.
雖然內部人員的具體定義可能是主觀的,但幾乎所有人都認爲董事會成員是內部人員。公司管理層應向董事會回答問題,後者應代表股東的利益。值得注意的是,有時高層管理人員也會成爲董事會成員。
Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.
大多數人認爲內部所有權是積極的,因爲它可以表示董事會與其他股東的利益相一致。但是,在某些場合下,這個團體的權力過於集中。
Our data suggests that insiders own under 1% of The Hong Kong and China Gas Company Limited in their own names. But they may have an indirect interest through a corporate structure that we haven't picked up on. It is a very large company, so it would be surprising to see insiders own a large proportion of the company. Though their holding amounts to less than 1%, we can see that board members collectively own HK$363m worth of shares (at current prices). It is good to see board members owning shares, but it might be worth checking if those insiders have been buying.
擁有49%的股權,一般公衆(主要是個人投資者)對香港中華燃氣有一定的影響力。雖然這種所有權規模可能不足以改變他們的政策決策,但他們仍然可以對公司政策產生集體的影響。
General Public Ownership
一般大衆所有權
With a 49% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Hong Kong and China Gas. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.
私人公司似乎擁有香港中華燃氣股份的42%。光是從這個事實很難得出任何結論,因此值得研究誰擁有這些私人公司。有時內部人士或其他有關方面通過單獨的私人公司在公共公司中擁有股份。
Private Company Ownership
私有公司的所有權
It seems that Private Companies own 42%, of the Hong Kong and China Gas stock. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company.
雖然考慮擁有公司的不同群體很值得,但還有其他更重要的因素。例如:我們已經發現了香港中華燃氣的2個警示,你應該知道。
Next Steps:
下一步:
While it is well worth considering the different groups that own a company, there are other factors that are even more important. Case in point: We've spotted 2 warning signs for Hong Kong and China Gas you should be aware of.
雖然考慮擁有公司的不同群體很值得,但還有其他更重要的因素。例如:我們已經發現了香港中華燃氣的2個警示,你應該知道。
But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.
但最終,決定該業務所有者將獲得多大利益的是未來而非過去。因此,我們認爲最好查看此免費報告,以了解分析師是否預測更光明的未來。
NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.
注:本文中的數據是使用最後一個財務報表日期結束的爲期12個月的數據計算的。這可能與全年年度報告數據不一致。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者,發送電子郵件至editorial-team (at) simplywallst.com。
這篇文章是Simply Wall St的一般性文章。我們根據歷史數據和分析師預測提供評論,只使用公正的方法論,我們的文章並不意味着提供任何金融建議。文章不構成買賣任何股票的建議,也不考慮您的目標或您的財務狀況。我們的目標是帶給您基本數據驅動的長期關注分析。請注意,我們的分析可能不考慮最新的價格敏感公司公告或定性材料。Simply Wall St沒有任何股票頭寸。
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
對本文有反饋?關於內容有所顧慮?直接和我們聯繫。或者發送電子郵件至editorial-team@simplywallst.com。