CHINA GAS HOLD (00384) saw its shares climb 3.27% in morning trading, reaching HK$8.52 with a turnover of HK$107 million.
The recent upgrade by MSCI Inc, a globally recognized index provider, has elevated CHINA GAS HOLD's ESG rating from BBB to A. This reflects the company's sustained efforts in environmental protection, safety management, social responsibility, and corporate governance, marking a significant milestone in its sustainable development journey.
Dongwu Securities noted that China's apparent natural gas consumption from January to September 2025 rose 0.7% year-on-year to 318.8 billion cubic meters, likely due to warmer winter conditions in 2024 affecting heating demand in early 2025. Domestic production increased 6.5% to 194.9 billion cubic meters, while imports fell 6.2% to 130.7 billion cubic meters.
The report also highlighted that 65% (188 cities) of prefecture-level and above cities implemented residential gas price adjustments from 2022 to September 2025, with an average increase of RMB 0.21 per cubic meter. Leading city gas companies maintained a price spread of RMB 0.53-0.54 per cubic meter in 2024, with reasonable distribution fees exceeding RMB 0.60 per cubic meter, indicating a 10% upside for further price adjustments.
Looking ahead to 2025, the gas supply is expected to remain ample, allowing cost optimization for gas companies. Price mechanisms will continue to improve, supporting demand growth.