HK-listed Zhongyu Gas near 5-month high on strong H1 forecast

Zhongyu Energy Holdings

31/07/2018 03:43

** Shares of Zhongyu Gas Holdings Ltd  3633.HK  climb 4.7
pct to HK$9.22, its highest since March 2, after the Chinese
piped gas distributor forecast strong growth in first half
profit
    ** Co expects its H1 profit to rise 180 pct amid increase in
sales of piped gas to industrial customers and connection
revenue on "coal-to-gas" conversion policy in the
mainland. urn:newsml:reuters.com:*:nFWN1UQ0AJ
    ** It expects to record a foreign exchange loss from its
bank borrowings denominated in U.S. and Hong Kong dollars as a
result of depreciation in the Chinese yuan in Q2 of 2018
    ** Co is due to publish its interim results in August
    ** As of the previous close, the stock had risen 76.55
percent so far this year
    ** Zhongyu Gas has outperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 42.1 percentage points in the
past one month
    ** As of 0211 GMT, about 1.34 million shares of the piped
gas distributor have been traded, compared with their 30-day
moving average of 4.39 million shares a day
    ** Hong Kong benchmark index  .HSI  falls 0.5 pct

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)