BOCI International released a research report stating that it is expected that China Resources Gas (00384.HK) will increase its annual net profit by 2% and should be able to meet its natural gas sales growth and dollar margin per unit guidance. However, the bank expects the group's new user growth to decline, while sales, general administrative expenses and financial costs remain high, and performance is expected to only reach the low end of guidance, with profit for the fiscal year 2024 forecasted to grow slowly.

The bank lowered its profit forecast for China Resources Gas for fiscal years 2024 to 2026 by 9% to 11%, but believes that the company will do its best to maintain a dividend of about 0.5 yuan per share, which has an attractive yield. The bank reiterated its "buy" rating and raised the target price from 8.3 yuan to 8.4 yuan.