Some gas stocks rose in early trading. As of press release, China Resources Gas (01193) rose 4.35% to HK$25.2; Xinao Energy (02688) rose 3.13% to HK$67.6; and Ganghua Smart Energy (01083) rose 1.3% to HK$3.12.
The Zhitong Finance App learned that some gas stocks rose in early trading. As of press release, China Resources Gas (01193) rose 4.35% to HK$25.2; Xinao Energy (02688) rose 3.13% to HK$67.6; and Ganghua Smart Energy (01083) rose 1.3% to HK$3.12.
According to the news, the linkage between consumer gas sales prices is progressing comprehensively. According to information, as of April 2024, a total of 125 regions across the country announced gas fee increases one after another. Among them, the Chengdu region increased 0.16 yuan/square meter, the Shenzhen region increased 0.31 yuan/square meter, the Tianjin region increased 0.29 yuan/square meter, and the Fuzhou region increased 0.45 yuan/square meter. The overall average increase was around 10%.
Haitong International believes that in June 2023, the National Development and Reform Commission issued the “Guiding Opinions on Establishing and Improving the Upstream and Downstream Price Linkage Mechanism for Natural Gas”, which indicates that the sales price of natural gas will be linked to the procurement costs of gas companies. In 2023, the gross margin of Xinao Energy, China Resources Gas, and Ganghua Smart Energy increased by 0.02 yuan/square, 0.05 yuan/square, and 0.08 yuan/square, respectively, compared with 2022. The bank believes that achieving favorable prices on the residential side is conducive to the gradual restoration of urban combustion companies' profits.