Illustration | The net inflow of mainland funds into Hong Kong stocks is 2.9 billion Hong Kong dollars, increasing positions in CHINA MOBILE, CHINA RES GAS, and Bank Of China.

Today, southern funds net bought 2.914 billion Hong Kong dollars in Hong Kong stocks. Among them: net purchases of CHINA MOBILE 0.812 billion, CHINA RES GAS 0.785 billion, Bank Of China 0.78 billion, MEITUAN-W 0.508 billion, XIAOMI-W 0.341 billion, POP MART 0.163 billion, AKESO 0.118 billion, TENCENT 0.117 billion, Semiconductor Manufacturing International Corporation 0.103 billion; net sales of TRACKER FUND OF HONG KONG 4.763 billion, Hang Seng H-Share Index ETF 1.407 billion, BYD COMPANY 0.221 billion, KUAISHOU-W 0.114 billion. According to statistics, southern funds have net bought MEITUAN for six consecutive days, totaling 2.84912 billion Hong Kong dollars.

Gelonghui FinanceMar 31 05:45 ET

BOCOM INTL: Decreased CHINA RES GAS Target Price to HKD 20.8, maintaining a "Neutral" rating.

BOCOM INTL released a Research Report stating that CHINA RES GAS (01193) will have core profits in 2024 remaining flat at approximately 4.15 billion Hong Kong dollars, significantly lower than the bank's and market's expectations by 30% and 25%, respectively. During the period, the gross profit was 12% lower than the bank's expectations due to underperformance in both connection engineering and retail gas sectors, as well as a 30% year-on-year decline in the final dividend. The bank noted that the company's current comprehensive services and energy business income has not yet increased enough to offset the downward trend in new connection engineering income. The bank has revised down the profit forecasts for this year and next year by 32.5% and 33.2%, respectively, to reflect the company's lower-than-expected connection engineering profit margin.

Sina Hong Kong stocksMar 31 04:13 ET

The significant cut in dividends by 30% causes CHINA RES GAS stock price to plunge by 20%.

CHINA RES GAS (01193.HK) faced strong selling pressure in today's early session, with the stock price plunging nearly 20%, marking the largest single-day drop in recent years. By noon, it had decreased by 19.33%, trading at 22.75 HKD, close to the low point of 22.5 HKD. CHINA RES GAS announced its latest performance for 2024, reporting not only a decline in net profit but also a reduction in dividends, leading to the sell-off of Stocks. The company's revenue last year was 102.676 billion HKD, a slight increase of 1.4%, but the growth rate has clearly slowed down: net profit was 4.088 billion HKD, a significant year-on-year decline of 21.7%; earnings per share were 1.8 HKD, vastly reduced compared to the same period last year; the final dividend was only 0.70 HKD.

HK MoneyClubMar 31 00:29 ET

[Brokerage Focus] BOCOM INTL CHINA RES GAS (01193) maintains a neutral rating, indicating that its operations and profit growth in 2024 will both be under pressure.

Jinwu Financial News | BOCOM INTL's Research Reports indicate that CHINA RES GAS (01193) will see its core profit in 2024 remain flat at 4.15 billion Hong Kong dollars, significantly lower than the bank's/market expectations by 30%/25%. During the period, gross profit was 12% lower than the bank's expectations due to the connection projects and the retail gas Sector's operations and profitability not meeting expectations. Additionally, the final dividend fell by 30% year-on-year. The bank noted that the company's comprehensive services and diversified energy Business revenues have not yet grown enough to offset the trend of shrinking income from new connection projects. The bank has adjusted its profit forecasts for 2025/26 down by 32.5%/33.2% to reflect the company's lower-than-expected connections.

Jinwu Financial NewsMar 30 22:35 ET

Does China Resources Gas Group (HKG:1193) Have A Healthy Balance Sheet?

Simply Wall StMar 30 21:04 ET

Hong Kong Stock Morning Report | The State Administration for Market Regulation is reviewing CKH HOLDINGS' port Trade. CHINA RES GAS reported a net profit decrease of over 20% year-on-year last year.

① Trump: Any tariff agreement will be reached after the measures take effect on April 2. ② State Administration for Market Regulation: Review of CKH HOLDINGS port Trade will be conducted in accordance with the law. ③ Four major Banks, including Bank of China, China Construction Bank, Agricultural Bank of China, and Postal Savings Bank, announced plans for a private placement to introduce strategic investment from the Ministry of Finance, with a total amount of 500 billion yuan. ④ Gou Ping, Deputy Director of the State-owned Assets Supervision and Administration Commission: Strategic restructuring of state-owned automobile enterprises.

cls.cnMar 30 19:09 ET