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Oil Prices Fall Amid a Broad Market Sell Off Following New U.S. Tariffs; OPEC to Boost Supply Next Month
Daiwa: Reaffirms KUNLUN ENERGY's "Outperform" rating and raises the Target Price to 9 Hong Kong dollars.
Daiwa released a research report stating that it reaffirms KUNLUN ENERGY (00135) with an "outperform the market" rating, and the Target Price has been raised from HKD 8.16 to HKD 9. The bank indicated that the company's core profit payout ratio last year was 43%, higher than the 40% for 2023, aligning with its dividend guidance from 2023 to 2025, which aims to increase the payout ratio to 45% by 2025. The bank quoted management stating that the company plans to launch a competitive dividend policy starting next year. The bank believes that the company's approximately RMB 4.365 billion net Cash as of last year can support its dividend payments.
Daiwa: Reiterates KUNLUN ENERGY (00135) "Outperform" rating and raises the Target Price to 9 Hong Kong dollars.
The bank believes that the company's net cash of approximately 4.365 billion yuan as of last year can support its dividend payments.
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KUNLUN ENERGY (00135.HK) has appointed Liu Guohai as Executive Director and Chairman.
On April 1st, Gelonghui reported that Mr. Fu Bin of KUNLUN ENERGY (00135.HK) has resigned from the positions of executive director, chairman of the Board of Directors, and company authorized representative due to reaching retirement age, effective April 1, 2025. The Board of Directors is pleased to announce that Mr. Liu Guohai has been appointed as executive director, chairman, and company authorized representative under Rule 3.05 of the listing rules, effective April 1, 2025.
