Dazhong Public Utilities (01635.HK) Hot Stock Analysis on January 2, 2026

Dazhong Public Utilities (01635.HK) is a regulated natural gas industry target in the utilities sector [0]. On January 2, 2026, the stock closed up 3.32% to $3.42 [0], with an intraday high of $3.44. Over the past 7 trading days (December 22, 2025 to January 2, 2026), it had a cumulative decline of approximately 4.87% [0], but the single-day increase on that day was significant. The core drivers for the stock becoming popular include: a Stock Connect holding ratio of 68.75% as of December 31, 2025 (ranking third in Stock Connect holding ratios [3][4]), indicating high attention from mainland investors; and a 205.14% year-on-year growth in net profit in the first three quarters of 2025 [1], which, although disclosed at the end of October, still has a sustained impact on market sentiment.

1. The high Stock Connect holding ratio (68.75%) is the core support for the stock’s market popularity, reflecting mainland funds’ long-term allocation willingness to high-quality targets in the utilities sector [3][4].
2. The trading volume of 2.15 million shares on January 2 was far lower than the average of 14.84 million shares over the past 7 trading days [0], indicating weak capital driving force for the day’s stock price increase and the existence of short-term speculative components.
3. On the institutional side, Invesco Great Wall CSI Oil & Gas ETF held 280,600 shares in the third quarter of 2025, accounting for 2.15% of the fund’s net asset value [5], showing that some institutions have allocated to this stock.

• Valuation risk: The current price-to-earnings ratio (P/E) is 33.14 times [0], which is at a relatively high level in the utilities sector, and there is a possibility of overvaluation.
• Liquidity risk: Against the backdrop of low trading volume, if market sentiment reverses, prices may fluctuate sharply due to insufficient liquidity.
• Industry risk: The regulated natural gas industry faces potential impacts of policy changes (such as price controls) on performance.

• Sustained attention from mainland investors: The high Stock Connect holding ratio provides certain support for the stock price [3][4].
• Profit growth potential: If subsequent performance continues the previous growth trend, it may further attract investors.

Dazhong Public Utilities (01635.HK) has become a popular target due to high Stock Connect holdings, previous profit growth, and short-term price increases. In terms of price, it closed at $3.42 on January 2, with a short-term support level of $3.31 (the lowest price on December 31, 2025) and a resistance level of $3.54 (the highest price on December 29, 2025) [0]. Market sentiment is characterized by coexistence of mainland investor attention and social media discussions, but insufficient trading volume indicates short-term speculative risks. Investors need to pay attention to factors such as valuation, liquidity, and industry policy changes, and make decisions based on their own risk preferences for reference.