The Zhitong Finance App learned that Tianlun Gas (01600) surged more than 22%. As of press release, it had risen 17.29% to HK$5.29, with a turnover of HK$30.185 million.

According to the news, Tianlun Gas recently obtained an urban pipeline gas franchise in Shulan City, Jilin Province, for a period of 30 years, continuing to deepen its main business to enhance development momentum. Up to now, the number of the company's urban gas projects nationwide has increased to 70. As an important province for Tianlun gas business, Jilin Province has now laid out 12 urban gas projects.

Furthermore, gas price adjustment plans for residential pipelines have recently been announced in many places, and the sales price of gas for residential pipelines has all been raised. Tianfeng Securities believes that the gas price linkage mechanism in various regions will continue to advance in 2024, which will benefit urban combustion companies to fix gross margins. Furthermore, the bank is optimistic that the fall in international gas prices in 2024 will drive upstream costs down, while demand for natural gas is expected to pick up further.