02688 ENN ENERGY
- 67.050
- +0.200+0.30%
ENN ENERGY News
Xinao Energy (02688.HK)'s retail sales of natural gas in the first quarter increased 2.7% year-on-year to 7.237 billion cubic meters
On April 26, GLONGHUI | Xinao Energy (02688.HK) announced that in the three months ending March 31, 2024, the Group recorded retail sales volume of 7.237 billion cubic meters of natural gas, an increase of 2.7% over the previous year. Among them, the gas sales volume of industrial and commercial users recorded a 2.9% year-on-year increase to 5.224 billion cubic meters, while the gas sales volume for people's livelihood also increased 2.5% year-on-year to 1,947 billion cubic meters. During the period, the Group's newly developed projects for industrial, commercial and home users remained steady. Newly developed industrial and commercial users have installed a daily opening gas volume of 2,929,000 cubic meters, and newly developed households that have completed the project installation
Changes in Hong Kong stocks | Natural gas surplus price mechanism comprehensively boosts China Resources Gas (01193) up more than 4% Xinao Energy (02688) by more than 3%
Some gas stocks rose in early trading. As of press release, China Resources Gas (01193) rose 4.35% to HK$25.2; Xinao Energy (02688) rose 3.13% to HK$67.6; and Ganghua Smart Energy (01083) rose 1.3% to HK$3.12.
Gas stocks rose 4.35% to Haohuarun Gas (01193), and gas fee increases were announced. Agencies indicate that the gross margin of urban fuel companies is expected to gradually recover
Jinwu Financial News | Gas stocks rose collectively. China Resources Gas (01193) rose 4.35%, Xinao Energy (02688) rose 3.13%, Beijing Holdings (00392) rose 1.83%, Hong Kong China Gas (00003) rose 1.52%, China Gas (00384) rose 1.25%, and Kunlun Energy (00135) rose 1.07%. Haitong International released a research report saying that as of April 2024, a total of 125 regions across the country announced gas bill increases one after another. Among them, the Chengdu region increased 0.16 yuan/square meter, and the Shenzhen region increased 0.31 yuan/square meter
Haitong International: Gas prices are rising one after another across the country, and the gross margin of urban fuel companies is expected to gradually recover
The Zhitong Finance App learned that Haitong International released a research report stating that as of April 2024, 125 regions across the country have announced gas fee increases one after another. Among them, the Chengdu region increased 0.16 yuan/square meter, the Shenzhen region increased 0.31 yuan/square meter, the Tianjin region increased 0.29 yuan/square meter, and the Fuzhou region increased 0.45 yuan/square meter. The overall average increase was around 10%. It is recommended to focus on urban gas companies that benefit from the gradual realization of favorable prices on the residential side, account for a relatively large share of overseas gas purchases, and have excellent fundamentals and environmental, social, and governance performance
Changes in Hong Kong stocks | Xinao Energy (02688) rose more than 5%, and local gas price linkage mechanisms continue to promote, institutions are optimistic about boosting the performance of gas companies
The Zhitong Finance App learned that Xinao Energy (02688) rose by more than 5% and rose 5.21% at press time to HK$64.64, with a turnover of HK$21.6 million. According to the news, gas price adjustment plans for residential pipelines have recently been announced in many places, and the sales price of gas for residential pipelines has all been raised. Earlier, on March 15, the Shenzhen Municipal Development and Reform Commission issued the “Notice on Jointly Adjusting the Sales Price of Pipeline Natural Gas in Our City”, which raised the sales price of natural gas for residential and non-residential pipelines starting March 16. The adjustment amount was 0.31 yuan/cubic meter (that is, 10% of the first-tier gas price for residents). In addition, Xinghua City,
新奧能源：二零二三年年報
Hong Kong Stock Concept Tracking | Industrial natural gas increased 4.5% year-on-year in March, natural gas sector or valuation restoration (with concept stocks)
According to data from the National Bureau of Statistics, natural gas production has reached a record high, and imports have maintained a relatively rapid growth rate. In March, industrial natural gas production was 21.6 billion cubic meters, up 4.5% year on year, and the growth rate was 1.4 percentage points slower than in January-February; the average daily output was 700 million cubic meters. The import of natural gas was 10.76 million tons, an increase of 22.0% over the previous year. From January to March, industrial natural gas production was 63.2 billion cubic meters, an increase of 5.2% over the previous year. Imports of natural gas amounted to 32.79 million tons, a year-on-year increase of 22.8%. As a utility sector, gas stocks have always had the advantage of stable cash flow and high dividends. According to Guoxin Certification
[Broker Focus] Haitong International maintains Xinao Energy (02688)'s “superior to the market” rating, indicating that its overall operation is relatively stable
Jinwu Financial News | According to Haitong International Development Research, Xinao Energy (02688) achieved revenue of 113.86 billion yuan in 2023, up 3.5% year on year; gross margin reached 12.6%, down 1.7 pct year on year; operating profit margin reached 9.4%, up 0.4 pct year on year; net profit reached 6.0%, down 0.7 pct year on year; core profit of 7.586 billion yuan, down 4.8% year on year, mainly due to a 36% drop in overseas LNG sales related business. On the cost side, the company's expense ratio continued to decline year by year, reaching 5.36% during 2023. days
Shen Wan Hongyuan: Urban fuel companies will fully benefit from the three major favorable factors of volume increase, price reform, and old reform
Against the backdrop of falling global gas prices and recovering consumer demand, CICC will fully benefit from the three major favorable factors of volume increase, price reform, and old reform. CICC is optimistic about the increase in both the profitability and valuation of CICC.
Haitong International: Maintaining Xinao Energy's “superior to the market” rating, the target price was reduced to HK$73
Haitong International released a research report stating that it maintained the “superior to the market” rating of Xinao Energy (02688) and adjusted the company's main operating income of 1224.75/1323.86/143.859 billion yuan in FY24-26, respectively. The corresponding net profit to mother was 81.34/86.33/9.357 billion yuan, and the target price was reduced by 21% to HK$73. Looking ahead to 2024, the bank believes that due to the macro and industry environment, the decline in the company's new connections will still have a negative impact on future profits, but the company's overall operation is relatively steady. Haitong International's main views are as follows:
Haitong International: Maintaining Xinao Energy's (02688) “Better Than Market” Rating Target Price Reduced to HK$73
Haitong International adjusted the net profit of FY24-26 Xinao Energy (02688) to the mother of 81.34/86.33/9.357 billion yuan.
Is ENN Energy Holdings Limited's (HKG:2688) Latest Stock Performance A Reflection Of Its Financial Health?
ENN Energy Holdings (HKG:2688) has had a great run on the share market with its stock up by a significant 16% over the last three months. Since the market usually pay for a company's long-term funda
Changes in Hong Kong stocks | Gas stocks continue to rise recently, and the fall in international gas prices is expected to reduce upstream purchaser-side costs. Local gas price linkage mechanisms continue to advance
Gas stocks continued their recent gains. As of press release, Xinao Energy (02688) rose 4.32% to HK$66.35; China Gas (00384) rose 3.55% to HK$7.87; and China Resources Gas (01193) rose 2.66% to HK$25.05.
Gas stocks rose collectively, Xinao Energy (02688) rose 4.87%. Institutions say the industry benefits from high certainty of profit and growth, and is extremely valuable for investment
Jinwu Financial News | Gas stocks rose collectively. As of press release, Xinao Energy (02688) rose 4.87%, China Gas (00384) and China Resources Gas (01193) rose more than 3%, and Beijing Holdings (00392) and Kunlun Energy (00135) both rose more than 2%. According to the news, the CITIC Securities Research Report pointed out that with the introduction of the Shenzhen gas favorable price policy, the national gas price promotion work is progressing steadily, and the recovery of urban fuel profits is more flexible due to falling gas prices. In the current weak macroeconomic environment, the industry benefits from high certainty of profit and growth, and has great investment value. It is recommended to focus on the higher return and valuation of underlying assets
Huatai Securities: Domestic and foreign green hydrogen projects are vigorously deployed, and the scale of green hydrogen is expected to continue to rise as penetration increases in the future
Huatai Securities released a research report saying that hydrogen is mainly used in refining and industry. According to the IEA, global demand for hydrogen energy will exceed 95 million tons in 2022.
Hong Kong Stock Concept Tracking | Local gas price linkage mechanisms continue to promote, institutions are optimistic about boosting the performance of gas companies (with concept stocks)
In 2024, gas price linkage mechanisms in various regions will continue to advance, which will benefit urban fuel companies to fix gross margins
Changes in Hong Kong stocks | Xinao Energy (02688) rose more than 5%, leading gas stocks in many places to push household gas prices down, and the fall in international gas prices is expected to drive upstream costs down
Gas stocks rose again. As of press release, Xinao Energy (02688) rose 5.69% to HK$65; China Gas (00384) rose 5.17% to HK$7.73; and China Resources Gas (01193) rose 4.25% to HK$24.55.
Tianfeng Securities: Local gas price linkage mechanisms continue to be promoted to benefit urban combustion companies to fix gross margins
I am optimistic that the fall in international gas prices will drive upstream costs down, while demand for natural gas is expected to rise further.
Changes in Hong Kong stocks | China Gas (00384) rises more than 5%, leading gas stocks, international gas prices falling back, reducing the costs of urban combustion companies, and terminal profit prices continue to advance
Gas stocks were generally higher. As of press release, China Gas (00384) rose 5.26% to HK$7.41; China Resources Gas (01193) rose 4.85% to HK$23.8; and Xinao Energy (02688) rose 2.82% to HK$61.95.
BASF Lights Up China's Mega-Project With ENN Energy Gas Deal
German chemicals giant BASF SE (OTC:BASFY) inked a deal with ENN Energy Holdings Limited (OTC:XNGSY) to purchase natural gas for its Zhanjiang Verbund site in China. As per the contract, ENN Energy wi
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