Gas stocks rose collectively. As of press release, China Resources Gas (01193) rose 4.22% to HK$24.7; Xinao Energy (02688) rose 4.52% to HK$65.95; China Gas (00384) rose 3.93% to HK$7.66; and Ganghua Smart Energy (01083) rose 2.45% to HK$2.93.
The Zhitong Finance App learned that gas stocks rose collectively. As of press release, China Resources Gas (01193) rose 4.22% to HK$24.7; Xinao Energy (02688) rose 4.52% to HK$65.95; China Gas (00384) rose 3.93% to HK$7.66; and Ganghua Smart Energy (01083) rose 2.45% to HK$2.93.
Huachuang Securities released a research report saying that after experiencing large fluctuations in upstream natural gas prices in 2021-2022, the procurement costs of urban combustion companies are expected to stabilize. At the same time, the price linkage mechanism continues to improve or push urban combustion companies to gradually enter a difficult reversal channel. Companies with gas source advantages and core pipeline network assets may have stronger bargaining power in the industrial chain.
Dongwu Securities, on the other hand, believes that the domestic favorable price policy is reasonable, that is, by controlling the yield index within a certain range to adjust terminal pricing, thereby stabilizing the price spread of urban combustion companies, and that this method has been well practiced by OneGas in the US. Foreign gas prices have declined, and domestic cost pressure has eased to increase demand; the price gap in the urban fuel sector will continue to be repaired, and favorable prices will push up valuations.