Core Viewpoint - The issuance of the "Opinions on Continuing to Promote Urban Renewal Actions" by the Central Office and State Council is expected to benefit Tianlun Gas, which primarily generates revenue from urban gas sales, pipeline connections, and value-added services [1][2]. Group 1: Urban Renewal Policies - The "Opinions" emphasize the renovation of old residential areas, streets, factories, and urban villages, aiming to improve urban functions and infrastructure [1]. - Key tasks include updating aging gas pipelines to eliminate safety hazards and enhancing commercial areas with better facilities [1]. - The document sets higher and clearer requirements for the promotion and application of urban gas in cities [1]. Group 2: Company Performance - Tianlun Gas reported total revenue of 7.78 billion yuan for 2024, with gas sales volume increasing by 7.2% to 2.24 billion cubic meters [1]. - Revenue from gas sales grew by 5.9% to 6.51 billion yuan, while value-added business revenue rose by 14% to 420 million yuan [1]. - The company has over 3.87 million urban gas users [1]. Group 3: Future Growth Opportunities - In 2024, Tianlun Gas plans to leverage urban renewal actions to support its gas sales, engineering construction, and value-added services [2]. - The company aims to add 250,000 new urban gas users by focusing on old residential areas and urban villages [2]. - Value-added services related to urban renewal and smart kitchen upgrades are expected to grow by 30% to 310 million yuan [2]. - The "Opinions" provide a roadmap for urban renewal actions, with a goal set for 2030, allowing Tianlun Gas to seize policy opportunities for sustainable and steady growth [2].
中办国办发布关于持续推进城市更新行动的意见 天伦燃气(01600)城燃业务或可长期受益