交银国际发表报告，指新奥能源(02688.HK) 首季季度零售气量按年增长0.3%，仍优于内地首季度天然气表观消费量的按年下降2.2%。毛差方面则环比有改善，该行估计相较去年首季度每方0.48元人民币的水平应有较大增长。
新增接驳方面，居民接驳按年下跌16%至28.7万户，仍在预期之内。泛能业务方面，一季度销售量按年增长9.9%至100亿千瓦时，该行认为暖冬对泛能销售量仍有一定影响。
公司的私有化方案仍需母公司的股东大会，港交所及其他内地监管的审批。该行预期公司应可在今年四季度推行股东大会寻求私有化方案的通过。
交银国际下调新奥能源2025及2026年盈利4%及6%。基于11倍2025年市盈率，下调目标价至74.6元，维持“买入”评级。(ad/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-04-28 16:25。)
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