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Heating season gas prices are rising! Gas stock in the Hong Kong stock market is active in the short term, while institutions still have diverging views.
① During the heating season, gas prices are rising. How high is the interest in gas stock on the Hong Kong Stock Exchange? ② There are still differences in perspectives among institutions. What risks are worth noting?
Soochow: China Gas Hold actively explores business to create a second growth pole. First buy rating.
Soochow Securities released a research report stating that it is initiating coverage on China Gas Holdings (00384) with a 'buy' rating, expecting the company's net income attributable to shareholders for FY2025-FY2027 to be 4.017/4.464/4.914 billion Hong Kong dollars, a year-on-year increase of 26%/11%/10%. The company's city gas projects smoothly raised prices and improved price differentials; actively expanding overseas long-term contract resources to gain cost advantages. Soochow Securities' main points are as follows: a leading national urban gas company, profitability expected to rebound from the bottom. The company was established in 2002 and listed on the Hong Kong stock exchange the same year. Since 2008, it has gradually developed liquefied petroleum gas and value-added service businesses, transitioning to
[Brokerage Focus] Soochow initially rated china gas hold (00384) as a "buy," indicating that it is tapping into the inherent growth of connection business, and profits are expected to bottom out and rebound.
Golden Finance News | Soochow Securities issued a research report, 23.5 billion cubic meters of urban pipeline gas sales volume for China Gas Hold (00384) in the 2023/24 fiscal year, accounting for 5.9% of the national consumer volume, with a leading position. The company's net income attributable to equity holders in the 2023/24 fiscal year was 3.185 billion Hong Kong dollars, a year-on-year decrease of 25.82%, mainly due to the decline in business volume affected by the real estate cycle; following the promotion of natural gas price adjustments in various regions in 2023, the company will explore internal growth in business volume and profitability is expected to bottom out and rebound. The company has good cash flow, with a net cash ratio of 2.94 for the 2023/24 fiscal year, a dividend payout ratio of 85.3%, and a dividend yield.
Soochow: China Gas Hold (00384) actively explores business to build the second growth pole, first assigned a "buy" rating.
Soochow expects china gas hold to have a net income of 4.017/4.464/4.914 billion Hong Kong dollars for FY2025-FY2027.
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