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花旗：维持华润燃气“买入”评级 目标价下调至26港元

Citibank: Maintaining China Resources Gas's “Buy” Rating and Lowering Target Price to HK$26

新浪港股 ·  Apr 3 04:23

Citi released a research report stating that it maintained the “buy” rating of China Resources Gas (01193) and lowered its net profit forecast of 9% to 10% from 2024 to 2026, mainly based on additional annual depreciation expenses of 350 million yuan for the Chongqing gas supply project since last year, as well as other revenue reductions that cannot be covered by financial cost cuts. The target price was lowered from HK$28 to HK$26. Citi pointed out that it was surprising that Runrun spent an additional 350 million yuan in depreciation expenses each year, but the expenses were non-cash, and the cash profit margin since this year still seems to be ahead of the full-year guideline.

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