ENN Energy Holdings released its interim results, with shareholders' profit attributable to them at 2.429 billion yuan, a year-on-year decrease of 5.6%

According to the Zhitong Finance APP, ENN Energy Holdings (02688) released its interim results for the six months ending June 30, 2025, with a revenue of RMB 55.673 billion, an increase of 1.99% year-on-year; profit attributable to shareholders was RMB 2.429 billion, a decrease of 5.6% year-on-year; basic earnings per share were RMB 2.19; and an interim dividend of HKD 0.65 per share is proposed.

The announcement stated that in the first half of the year, the group actively implemented its strategic positioning of "using intelligent innovation services to become a service provider that creates multi-value for customers based on natural gas business." The group continued to expand its customer base and integrate quality resources to solidify its natural gas fundamentals, with natural gas retail volume reaching 12.953 billion cubic meters, a year-on-year increase of 1.9%; seizing opportunities from power reform, the general energy business achieved steady growth, with gross profit from the general energy business increasing by 2.1% year-on-year; innovative products and upgraded services led to a 4.9% increase in gross profit from smart home business. The group continued to promote business upgrades, with the gross profit share of general energy and smart home businesses rising by 1.4% to 39.6%, while core profits from domestic basic businesses continued to grow. At the same time, the group continued to optimize its domestic and foreign debt structure, reducing interest-bearing liabilities to RMB 18.739 billion, further lowering comprehensive financing costs, providing more robust financial support for business development.

During the period, the group dynamically recognized customer needs, implemented differentiated development strategies, and promoted continuous growth in customer scale. For industrial customers, focusing on cost reduction and efficiency improvement as well as gas stability, energy-saving renovations were promoted in industries such as food processing and glass, achieving an additional gas volume of 4.682 million cubic meters per day through energy substitution (steam, liquefied petroleum gas (LPG), biomass, electricity, etc.). For commercial customers, addressing safety gas pain points, leveraging the government's "bottle-to-pipe" policy, and using big data for precise business recommendations, breakthroughs were made in street-level businesses, achieving an additional gas volume of 1.604 million cubic meters per day through process optimization for rapid delivery. For residential customers, responding to the national housing policy, various measures were taken to develop 174,000 existing old accounts, effectively offsetting the impact of the new housing market decline, leading to a total of 692,000 residential installations; simultaneously, actively promoting the implementation of price adjustments for residents, with four enterprises completing price adjustments in the first half of the year, resulting in a cumulative price adjustment ratio of 64%.

Relying on a large customer base and stable gas demand, the group deepened resource structure optimization. The foundational resources of the three major oil companies were solidified, with resource volume increasing by 1.3 billion cubic meters year-on-year, and for the first time, long-term contract resources from Sinopec were obtained, continuously enhancing resource security capabilities; through resource coordination and optimization and high-priced resource substitution, overall structural efficiency was improved; facing an increase in the proportion of upstream resources linked to oil and gas indices, strategies combining hedging and physical goods were employed to hedge against price fluctuations, enhancing the profitability stability of the natural gas business. At the same time, to avoid procurement foreign exchange risks, the group signed forward foreign exchange contracts with several financial institutions to stabilize procurement costs. As of June 30, 2025, the amount hedged by the group reached USD 624 million, with a hedging trade risk exposure ratio of 25.6%