Guozheng International has released a research report maintaining a "Buy" rating for BINHAI INV (02886). Based on peer valuations and industry trends, the firm assigns the company a projected 2026 P/E ratio of 8x, assuming an exchange rate of 1 RMB to 1.15 HKD, corresponding to a target price of HK$1.43.
The company reported its operational results for the first quarter of 2026. Pipeline gas sales volume for the quarter reached 794 million cubic meters, a year-on-year increase of 21%. Within this total, pipeline gas sales accounted for 585 million cubic meters, rising 23% compared to the same period last year.
Previously, the company announced its full-year 2025 results. Annual revenue was RMB 5.606 billion, representing a 3% decrease year-on-year. However, net profit attributable to shareholders was RMB 206 million, marking a 12% increase. The company demonstrated significant results in cost reduction and efficiency improvements, with an attractive dividend yield of 6.9%.
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