Citi's report pointed out that it has lowered CHINA RES GAS's Net income forecasts for 2024 to 2026 by 8.3%, 9.5%, and 9.2%, respectively, to reflect a reduced expectation for its retail Henry Hub Natural Gas sales volume growth, with an average annual growth rate forecast of 3% for 2024 to 2025, lower than the company's target of 6% growth last year, mainly due to slower-than-expected growth in the industrial sector; the company reports its performance in HKD, affected by the depreciation of the RMB against the HKD. The bank stated that it has lowered CHINA RES GAS's Target Price from 32.5 HKD to 32.1 HKD, maintaining a 'Buy' rating, with its last year's Net income forecast being 4% lower than market expectations. It also expects the company's net income to achieve a compound annual growth rate of 8% over the next two years and is Bullish on the company's solid financial position as a state-owned enterprise, with lower investment risk.