Yuanheng Gas (00332.HK) Popular Stock Analysis Report

Yuanheng Gas (00332.HK) is a Hong Kong-listed stock in the energy/oil and gas integrated industry [1], and it made it to the Oriental Fortune App’s Hong Kong Stock Market Surge List on December 11, 2025. The core catalyst is the interim results announcement released on November 26, 2025, which shows that the loss attributable to shareholders narrowed from RMB 1.87 billion to RMB 1.15 billion compared to the same period last year, a year-on-year decrease of 38.14% [2].

From the perspective of price and trading volume, the stock has fallen by 40.00% so far in 2025 [0]. The current price (as of December 3, 2025) is HK$0.018, close to the 52-week low of HK$0.016, with a 52-week range of HK$0.016 to HK$0.050 [0]. The daily trading volume was only 192,000 shares, far below the average volume of 3,001,280 shares, indicating that despite being on the hot list, the actual trading activity is extremely low, and the popularity may be driven by platform algorithms rather than active capital [0].

1. Contradiction Between Popularity and Trading Activity
   : Yuanheng Gas entered the Hong Kong stock surge list, but the trading volume is far below the average level, reflecting that the list’s popularity lacks real capital support and may be caused by short-term algorithm fluctuations.
2. Weak Fundamentals Cannot Hide the Narrowing Loss
   : Although the mid-term loss has narrowed, the company’s revenue decreased by 49.3% year-on-year [2], the price-to-book ratio is only 0.12, and the return on assets is negative [0], so there are still large uncertainties about the long-term profit prospects.
3. Industry Challenges Combined with Operational Pressure
   : Bloomberg reported that China’s LNG demand in 2025 was lower than expected [3]. As an energy industry enterprise, Yuanheng Gas will face additional operational pressure brought by the overall weak demand in the industry.

1. Sustained Loss Risk
   : The mid-term loss in 2025 was still RMB 1.15 billion, and the future profit path is not clear [2].
2. Significant Revenue Contraction
   : The business scale decreased by 49.3% year-on-year, which will affect the company’s long-term operation ability and debt repayment ability [2].
3. Low Liquidity Risk
   : The trading volume is far below the market average, investors may face difficulties in buying and selling, which will intensify the stock price fluctuation [0].
4. Downturn in Industry Demand
   : China’s LNG demand is lower than expected, which directly puts pressure on the company’s core business [3].
5. Poor Financial Condition
   : Both the price-to-book ratio and return on assets indicators reflect the company’s weak fundamentals [0].

The short-term trend of narrowing losses may attract the attention of some speculators, but there are no clear long-term reversal signals yet, and investors need to evaluate carefully.

Yuanheng Gas made it to the Hong Kong stock hot list mainly due to the short-term signal of narrowing mid-term losses, but factors such as weak stock price trend, low trading volume, weak fundamentals, and industry challenges indicate that the stock lacks long-term investment value support. Decisions need to comprehensively consider risks such as sustained losses, revenue contraction, insufficient liquidity, and the authenticity of market popularity.