麥格理:維持華潤燃氣(1193.HK)中性評級 目標價上調至47港元
麥格理髮表報吿,上調華潤燃氣(1193.HK)目標價24%至47港元,維持中性投資評級。
報吿指,公司2020財年度售氣量僅錄得4%增長,這因商業板塊需求疲軟,預計在內地全國商業活動復甦下,工商業需求將會在2021財年重新加快,今年首四個月內地燃氣需求上升15.7%,預計2021年公司集氣量約3580萬立方米,按年上升23%。
報吿又指,該公司寧波項目於去年8月完成註冊並開始運營,管理層指山西項目將是今年重點,料年營業額約47億元人民幣,是寧波項目兩倍多。公司計劃在山西項目上花費約15-20億元人民幣,佔2021年年度併購預算約35%-47%。該公司亦開始加氫站、電動汽車充電樁運營等試點項目,以及在南方城市開始分佈供熱業務。

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