The Zhitong Finance app learned that Hong Kong's China Gas (00003) fell more than 3%, hitting a new low of HK$6 since November 2022. As of press release, it fell 3.38% to HK$6, with a turnover of HK$68,3645 million.

According to the news, Hong Kong China Gas announced its interim results for the six months ended June 30, 2023. The group achieved a turnover of HK$29.178 billion (recorded fuel adjustment fees) during the period, a decrease of 1.83% over the previous year; shareholders should account for a profit of HK$3,614 billion after tax, an increase of 9.02% over the previous year.

Citibank released a research report saying that the net profit of Hong Kong's China Gas in the first half of the year fell short of expectations and reiterated the “sale” rating. The bank pointed out that the most important thing is that under the tight cash flow of the company, it does not anticipate an increase in dividends per share or the resumption of dividend shares in the future. After cutting profit forecasts, the target price will also be lowered from HK$6 to HK$5.5 accordingly.