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<Research>BOCOMI Raises CHINA GAS HOLD (00384.HK) TP to $6.7, Keeps Rating at Neutral
BOCOMI published a research report saying that CHINA GAS HOLD (00384.HK) will announce its FY2025 annual results on 27 Jun, and expecting the Company's full-year core profit to...
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<Research>BOCOMI Raises CHINA GAS HOLD (00384.HK) TP to $6.7, Keeps Rating at Neutral
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BOCOMI published a research report saying that CHINA GAS HOLD (00384.HK)  +0.070 (+0.943%)    Short selling $8.85M; Ratio 41.181%   will announce its FY2025 annual results on 27 Jun, and expecting the Company's full-year core profit to drop by 6.4% YoY to $3.7 billion.

Due to the impact of the warm winter in 2HFY2025, the Company's gas sales volume was weak in 4 to 5 months. The Company's full-year retail gas sales volume is predicted to increase slightly by about 1% YoY (growing only 0.5% YoY in 2H25), lower than the Company's guidance of 2%.

In terms of valuation, BOCOMI adjusted the base year to FY2026, and raised its valuation standard to 9.5x, which is still at a discount compared to other gas companies covered by the broker (valuation standard of 10-11x), and raised its target price to $6.7 (originally $5.92), with rating kept at Neutral.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-06-25 12:25.)

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