ENN Natural Gas (600803) H2 2025 earnings summary

Executive summary

• Achieved revenue of RMB 131.46 billion and net profit attributable to shareholders of RMB 4.68 billion, with basic EPS of RMB 1.52, up 4.11% year-over-year.

• Maintained strong governance, with MSCI ESG AAA rating and stable international and domestic credit ratings.

• Completed major expansion of Zhoushan LNG terminal, enhancing infrastructure and supply capabilities.

• Continued innovation in business models, digital transformation, and clean energy technology.

Financial highlights

• Revenue decreased 3.22% year-over-year to RMB 131.46 billion; net profit attributable to shareholders increased 4.19% to RMB 4.68 billion.

• Operating profit rose 2.01% to RMB 5.19 billion; cash flow from operations was RMB 14.27 billion, up 0.74%.

• Gross margin for main business was 14.15%; basic EPS was RMB 1.52, up 4.11%.

• Adjusted net profit (excluding non-recurring items) increased 18.75% year-over-year.

• Proposed cash dividend of RMB 9.60 per 10 shares, total payout RMB 2.97 billion.

Outlook and guidance

• 2026 natural gas demand expected to grow modestly, with gas as a key transition energy.

• Company to focus on digital-driven growth, platform business models, and expanding clean energy and smart home segments.

• Will continue to optimize resource allocation, risk management, and customer-centric innovation.