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GF SEC: The gas price is finalized + performance turning point, combining both dividends and cyclical benefits.
The urban gas business model is stable, cash flow is good, and the current policy of continuous price adjustments is being promoted, which belongs to a sub-industry with a high degree of utility. It may welcome a reassessment of urban gas's value within the year.
[Brokerage Focus] GTJA maintains a 'Shareholding' rating for the gas Industry, indicating a reconstruction of value in the urban gas sector.
Jingwu Financial News | GTJA stated that with the optimization of profit structure, enhanced operational management, and the slowdown of capital expenditure, the free cash flow of urban gas companies is expected to improve; maintaining a "Shareholding" rating for the gas Industry, focusing on the trend of improving free cash flow and increasing dividend value. The bank indicated that Listed in Hong Kong gas leading stocks have shown strong historical performance; it believes that the long-term excess returns of leading companies listed in Hong Kong are mainly benefited from: 1) Rapid development of the Henry Hub Natural Gas Industry: Benefiting from the improvement of urban gas infrastructure, increased urbanization level, and the promotion of Eco-friendly Concept policies, the growth rate of natural gas consumption has experienced a phase increase (in 2021, the natural gas consumption was 37...
BEIJING ENT (00392.HK) intends to hold a Board of Directors meeting on March 27 to approve the annual performance.
On March 13, Gelonghui reported that BEIJING ENT (00392.HK) announced that the Board of Directors meeting will be held on Thursday, March 27, 2025, at the 66th floor of Central Plaza, 18 Harbour Road, Wan Chai, Hong Kong, to approve the announcement of the annual performance of the company and its subsidiaries for the year ending December 31, 2024, and to consider the proposal for the distribution of a final dividend, if any.
【Brokerage Focus】CITIC SEC: Changes in Consumer structure, the gas Industry returns to the right track while urban gas growth is moderate.
Jinwu Financial News | CITIC SEC stated that after a consecutive two years of approximately 8% apparent Consumer growth in 2023-2024, domestic gas consumption has emerged from the low point, and the Industry growth rate has returned to normal. Unlike the historically prominent growth rate of nationwide urban gas sales, during this round of demand recovery, the performance of nationwide leading urban gas sales has been modest and generally weaker than the overall Industry growth rate, marking a turning point in the growth rate difference. The current market environment is very favorable for LNG heavy trucks, with sales experiencing a full explosion after 2023; as the Energy transition advances, the significant increase in the Electrical Utilities system's demand for flexibility is also supporting gas and power.
Bank of America Merrill Lynch: Last year, the defensive yields from thermal and hydro power performed exceptionally well in the Utility Sector, upgrading HUANENG POWER (00902) rating to "Buy."
The MSCI China Utilities Index rose about 17% last year, performing in line with the market. Among them, defensive yields like thermal and hydro power have performed exceptionally well within the Sector. It is recommended that investors choose defensive stocks this year and add to positions when individual quality Beta stocks experience price corrections.
BE ENVIRONMENT (00154.HK) appointed Luo Shengqiang as an independent non-executive Director.
On January 16, Gelonghui announced that BE ENVIRONMENT (00154.HK) has stated: (1) Jin Lizuo has submitted his resignation as the company's independent non-executive director and will no longer serve as the chairman of the remuneration committee, a member of the audit committee, and a member of the nomination committee; (2) Nie Yongfeng has submitted his resignation as the company's independent non-executive director; (3) Luo Shengqiang has been appointed as the company's independent non-executive director and has been appointed as a member of the company's audit committee; and (4) Miao Li has been appointed as the chairman of the company's remuneration committee. The above changes are effective immediately.
