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招商證券國際:維持中國燃氣(0384.HK)“買入”評級 目標價38.3港元
格隆匯 11-26 16:29

招商證券國際發佈公司研報稱,中國燃氣(00384.HK)核心利潤同比增長16%,VAS收入翻了一番,今天公佈了20財年中期業績,收入和利潤分別同比下降3%和增長16個百分點,核心利潤與該行全年的預估相符。

該行稱,中國燃氣管理層指出,當冬季供暖季到來之時,其燃氣銷售增長率將會從同比15%增速恢復至18%,新增加的150萬户家庭有望實現額外的8%的增長。由於在20年上半年的強勁表現,管理層將其VAS全年GP增長率從年環比40%提高到50%。該行表示,在VAS的多元化增長驅動下,對公司的增長軌跡保持樂觀,維持“買入”評級,目標價維持38.3港元不變。

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