The Zhitong Finance App learned that Xiaomo released a research report saying that Hong Kong's China Gas (00003) rating was downgraded from “neutral” to “reduced holdings,” and that the target price was lowered from HK$6.5 to HK$6.2. There are doubts about its ability to pay dividends.

According to the report, in mainland and Hong Kong public stocks, the FY2023 guidance, accounts receivable updates and dividends will be the most important driving factors for the company. For gas utilities, the bank added Kunlun Energy (00135) to the positive catalyst watch list, which is expected to increase dividends; however, Hong Kong China Gas is included in the negative catalyst watch list.