On July 9, Guolonghui reported that First Shanghai gave PetroChina a "buy" rating, with a target price of HK$10.06. Predict the pure profit of PetroChina from this year to 2026 will increase by 7% to 9% each year, and the corresponding earnings per share will be 0.95 to 1.09 yuan. The bank estimates the valuation based on the pricing of domestic and foreign oil companies, giving PetroChina a forecast PE ratio of 10. The bank expects a moderate recovery in global oil demand, with overall supply and demand relatively tight, and oil prices may continue to maintain a high range. It is expected that from this year to 2026, the company's oil and gas and new energy sectors will maintain revenue growth of more than 2%, and the revenue of the refining sector will remain high. The bank also pointed out that the domestic gas market benefits from gas price reform, and gas prices can be directed to end-users. The company's natural gas price difference is expected to be maintained in the long-term, plus the company's strategy of stabilizing oil and increasing gas to promote stable increase in natural gas sales, and the profit model is expected to approach public utilities. It is expected that the operating profit of the company's natural gas sector will increase by 14.5% per year this year.