海通国际发表研报指，润燃(01193.HK) 上半年营收及毛差得到进一步提升，主要受惠于零售销售量及接驳业务稳步增长。
海通国际提及，居民及工商业用户拉动润燃零售销气量稳步增长，其中工商业用户销气量的按年增长有助于优化公司销气毛差。该行亦指，庞大的用户体量不仅为接驳业务带来新增长，亦为公司综合能源业务带来联动效应。
另外，润燃综合能源业务营收及盈利能力得到全方面提升，主要受惠于公司在厨电燃热、保险代理和安居产品等业务上的持续拓展。该行指，润燃在分布式光伏、分布式能源和交通充能等领域的积极探索，将为其带来新的增长点。
海通国际认为，2024年宏观及行业环境对润燃未来盈利仍有挑战，但其整体营运相对稳健。该行将润燃2024至2026财年公司主营业收入预测，分别调整至1,026.5亿、1,083.6亿、1,143.9亿元；对应归母净利润分别为54.3亿、57亿、59.8亿元，目标价相应上调至37.9元，维持“优于大市”评级。(js/k)
(港股报价延迟最少十五分钟。沽空资料截至 2024-10-17 16:25。)
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