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00384 CHINA GAS HOLD
RTNominal down22.800 -0.300 (-1.299%)
Research Report

29/06/2020 14:40

{I-bank focus}Huatai lowers China Gas (00384) to HK$39

[ET Net News Agency, 29 June 2020] Huatai Research lowered its target price for China
Gas Holdings (00384) to HK$39 from HK$41 and maintained its "buy" rating.
The research house said China Gas's FY2020 results were in line with its forecasts.
Huatai cut its net profit forecasts for FY2021/22 by 9%/5% to reflect lower gas sales
volume growth.
To reflect the impact from COVID-19, Huatai revised down its gas sales volume growth
forecasts for China Gas to 20%/23% for FY2021/22 (previous: 28/25%), with dollar margin
stable. It remains positive on China Gas's earnings outlook for FY2021, considering
China's economic reboot, stringent pandemic control to prevent a further resurgence of
COVID-19, and inflow of Russian Gas to Northeast China. (KL)

Remark: Real time quote last updated: 07/08/2020 17:58
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