【Brokerage Focus】Jianyin International maintains a "outperform market" rating on CHINA RES GAS (01193), expecting its gas sales growth in the second half of last year to possibly slow down.

Jinwu Financial News | According to the Research Reports from Jianyin International, after a 10% year-on-year decline in core profits in 2023, CHINA RES GAS (01193) is expected to see a 33% year-on-year increase in core profits for the 2024 fiscal year, reaching 5.6 billion HKD. In the second half of the 2024 fiscal year, gas sales growth may slow down, while the number of new residential user connections may decrease; however, the expansion of unit profit margins and the rapid growth of high-margin Comprehensive Service Business (CSB) and Integrated Energy Business (IE) will continue to drive gross profit growth. The institution expects that retail gas sales in the 2024 fiscal year will increase by 2% year-on-year, with unit profit.

Jingu Financial NewsFeb 26 03:07 ET

CITIC maintains CHINA RES GAS "outperform Industry" rating with a Target Price of 30 HKD.

CICC released a Research Report stating that it maintains the "outperform the Industry" rating for CHINA RES GAS (01193) and a Target Price of HKD 30. Based on recent gas price trends and downstream industrial production conditions, the profit forecasts for 2024 and 2025 have been revised down by 6.2% and 9.7% to HKD 5.47 billion and HKD 5.87 billion, respectively. A profit forecast for 2026 of HKD 6.35 billion has been introduced for the first time, while it is estimated that the Net income attributable to the parent company of CHINA RES GAS will increase by 21% year-on-year to HKD 2.01 billion in the second half of 2024. CICC stated that as of the close on February 16, the stock price of CHINA RES GAS has adjusted nearly 23% from its peak in October 2024, determining the second half.

Sina Hong Kong Stock.Feb 19 21:32 ET

CITIC Securities: Maintain CHINA RES GAS (01193) "Outperform Industry" rating, Target Price 30 Hong Kong dollars.

Based on the recent trends in gas prices and downstream industrial production, CICC has lowered the profit forecasts for 2024 and 2025 by 6.2% and 9.7% to HKD 5.47 billion and HKD 58.7 billion, respectively, and has introduced a profit forecast for 2026 of HKD 6.35 billion for the first time.

Zhitong FinanceFeb 19 20:54 ET

Morgan Stanley: The positive expectations for a decrease in Henry Hub Natural Gas costs have been reversed. Adjustments to Gas Stock ratings and Target Price (table).

The market has anticipated that under weak market conditions and high Henry Hub Natural Gas prices, gas consumption in China will slow down this year.

Zhitong FinanceFeb 19 04:05 ET

[Brokerage Golden Stocks] Brokerages indicate that the upward trend of Hong Kong stocks remains strong and the list of golden stocks for February has been released (with list attached).

Jinwu Finance | Looking back at January, the Hong Kong stock market successfully outperformed the A-shares, with the Hang Seng Index rising 0.8% in January and the Hang Seng TECH Index rising 5.7%. In contrast, the SSE Composite Index fell 3% while the Chinext Price Index decreased by 3.6%. Moving to February, during the Spring Festival, Trump imposed a 25% tariff on Mexico and Canada and an additional 10% tariff on China, but then announced a one-month delay for the tariffs on Mexico on the evening of February 3. The unpredictability of the Trump administration's tariff policies has created uncertainty in the market. Since February, U.S. stocks have shown fluctuating performance, but the Hong Kong stocks have remained unaffected, with U.S. Treasury yields stabilizing and AI companies like DeepSeek emerging.

Jinwu Financial NewsFeb 5 03:09 ET

The Returns On Capital At China Resources Gas Group (HKG:1193) Don't Inspire Confidence

Simply Wall StFeb 4 19:41 ET