Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>Daiwa Upgrades HK & CHINA GAS to Outperform; Green Fuel Biz Earnings Recovery Improves Fundamentals
Recommend 12 Positive 19 Negative 16 |
||||
|
||||
|
HK & CHINA GAS (00003.HK) has seen an improvement in fundamentals due to the earnings recovery in its green fuel business, according to Daiwa's research report. The restructuring and potential spin-off of its subsidiary EcoCeres after 2026 also provided room for increased dividends per share. Last year, HK & CHINA GAS' net profit in 1H25 was dragged down by EcoCeres's RMB130 million net loss, mainly due to weak sustainable aviation fuel (SAF) prices. With the recovery of sustainable aviation fuel prices and the addition of new capacity, Daiwa expects HK & CHINA GAS to have turned around in 2H25. HK & CHINA GAS' rating has been upgraded from Hold to Outperform, with a 12-month target price raised from HKD7.1 to HKD7.7. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
