The Zhitong Finance App learned that Tianlun Gas (01600) continued to strengthen and rose significantly in the afternoon. At one point, it hit HK$5.43, a new high in nine months. According to CMB International's research, the company's commercial sales volume has clearly recovered since December 2022. In H2 '22, gross margin had returned to the same level as last year. CMB raised its target price to HK$6.55. As of press release, Tianlun Gas rose 4.98% to HK$527, with a turnover of HK$10 million.

On February 10, CMB International released the Tianlun Gas update report, stating that industrial and commercial gas sales have clearly recovered, and the new energy business continues to advance. We raised our target price to HK$6.55 to maintain our “buy” rating. According to the report, the Bank recently conducted research on Tianlun Gas, and the company's industrial and commercial gas sales have clearly recovered since December 2022. The gross margin for the second half of 2022 has also returned to the same level as last year. The development of the rural rooftop photovoltaic business has been slower than expected, but it still shows great potential for business growth. Continued stock buybacks show management's confidence in operations.