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| HSI1 | 24,557.04 | +108.09 | 178.17B |
| HSCEI1 | 8,265.81 | +5.66 | 57.75B |
| Back Zoom + Zoom - Block Traded | |
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2026-11-10 12:04:29 JPMorgan issued a research report stating that it has resumed coverage on China's gas utility sector. Its stock preferences, in order, are KUNLUN ENERGY (00135.HK) > ENN ENERGY (02688.HK) > CHINA RES GAS (01193.HK) > CHINA GAS HOLD (00384.HK) > ENN (600803.SH). Among them, KUNLUN ENERGY (00135.HK) and ENN ENERGY (02688.HK) were given an "Overweight" rating, while the others were rated "Neutral". JPMorgan believes the sector offers dividend yield opportunities of 5% to 6.5%, alongside moderate earnings growth. Therefore, the broker focuses on dividend resilience, attractive valuations and room for earnings upgrades when selecting stocks. The broker noted that KUNLUN ENERGY (00135.HK) has outperformed the HSI and its H-share peers YTD. Its relatively defensive earnings profile, share buybacks and solid dividend floor for 2026-2028 support share price performance, although its LNG terminal business remains undervalued by the market. As for ENN ENERGY (02688.HK), the company has a stable dividend outlook and a track record of earnings growth beyond connection services and gas sales. JPMorgan prefers direct holdings in ENN ENERGY (02688.HK), while assigning a "Neutral" rating to the A-share listed ENN (600803.SH) due to reasonable valuation. JPMorgan's ratings and TPs on China gas stocks are listed below: Stock|Rating|TP (HKD) KUNLUN ENERGY (00135.HK)|Overweight|HKD9 ENN ENERGY (02688.HK)|Overweight|HKD56.5 CHINA RES GAS (01193.HK)|Neutral|HKD14.5 CHINA GAS HOLD (00384.HK)|Neutral|HKD5 ENN (600803.SH)|Neutral|RMB20 (sl/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |