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China Resources Gas Group Limited's (HKG:1193) Stock's On An Uptrend: Are Strong Financials Guiding The Market?
Huabao Securities: Hydrogen Price Index sees a decrease in supply and consumer demand, fuel cell vehicle production and sales enter the peak season.
With the implementation of relevant policies and completion of project construction, the market supply and demand for green hydrogen production and co-combustion of green hydrogen/green ammonia are expected to see double growth.
Hong Kong Stock Market Movement | China Res Gas (01193) rose nearly 3%. Institutions predict that the annual profit increase of gas sales will reach double-digit percentage.
China Res Gas (01193) rose nearly 3%. As of press time, it has risen by 2.85% to HKD 27.10, with a turnover of HKD 7.7859 million.
China Res Gas (01193.HK) held a board of directors meeting on August 30 to consider and approve mid-term performance.
China res gas (01193.HK) announced on August 1 that the board of directors meeting will be held at 10:30 am on August 30, 2024 (Friday), and will consider and approve the unaudited interim performance and interim dividend (if any) of the company and its subsidiaries for the six months ended June 30, 2024.
CHINA RES GAS: DATE OF BOARD MEETING
Major bank rating|CICC International: Raise the target price of China RES Gas to HK$30, and the stock price will continue to lead the industry in the short term.
Jianyin International has published a research report predicting that China res gas will see its core profits recover and the profit increase of gas sales is expected to reach a double-digit percentage for the year, with an estimated increase in gas sales volume of 6.3%. In addition, comprehensive energy sales are expected to increase by 50% annually, and gross profits from comprehensive service business are expected to increase by 21% annually. Considering factors such as reduced profit contributions from Tianjin JCE and affiliated companies, as well as increased expenses, the bank has lowered its core profit forecast for China res gas in 2024 to 2026 by 3%, 2%, and 1%, respectively. However, due to China res gas's stock price having outperformed its peers over the past year, Jianyin believes there is potential for profit recovery and sound finances.
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