ENN ENERGY (02688) announced its interim results, with net profit attributable to shareholders reaching 2.667 billion yuan, an increase of 9.8% year-on-year.

ENN ENERGY (02688) announced its interim results for the six months ending June 30, 2026. The group achieved a revenue of RMB 57.021 billion, an increase of 2.4% year-on-year; the profit attributable to the companys owners was RMB 2.667 billion, a year-on-year increase of 9.8%; basic earnings per share were RMB 2.4; and the interim dividend per share was HKD 0.68. The announcement stated that in the first half of the year, the group actively implemented its strategic positioning of "leveraging intelligent innovation to provide services and become a service provider that creates multi-value for customers based on natural gas business." The customer base continued to grow, reaching 33.26 million household customers and 328,000 industrial and commercial customers. Based on the continuously expanding customer scale, the group fully leveraged its natural gas resources and operational advantages, effectively resisting market fluctuations and demonstrating strong operational resilience. Meanwhile, it continuously enhanced its smart home products and service capabilities and developed its power-centric pan-energy business, leading to ongoing improvements in profit quality. Additionally, the group strengthened cash flow management, with operating cash flow for the period reaching RMB 3.078 billion, an increase of 16.4% year-on-year; the debt structure also continued to be optimized, with a net debt ratio at the end of the period of 19.1%, maintaining an overall leverage ratio at a prudent level. A solid operational foundation, ample cash flow, and a healthy debt structure provided strong support for the group to effectively hedge against fluctuations in the external market environment and accumulate sustainable development momentum. During the period, the group implemented targeted measures for the differentiated gas demand of different customer groups, steadily expanding its gas customer base. For industrial customers, the group delved into client processes to reduce energy costs, implemented exclusive service from customer managers for major clients, and optimized gas source structures and pricing policies. In the first half of the year, the new open gas volume for industrial users reached 5.3 million cubic meters per day. For commercial customers, the focus was on stable and safe gas demand, leveraging intelligent customer insights, solution capabilities, and rapid development abilities, resulting in an open gas volume of 1.1 million cubic meters per day installed for commercial users in the first half of the year. For residential customers, the potential of the existing market was deeply explored, completing installations for 175,000 existing old households during the period, effectively mitigating the impact of the downturn in the real estate market, with a total of 502,000 resident installations. The group actively promoted the adjustment of residential gas prices, achieving a cumulative completion rate of 74.8% for structured residential gas pricing from the end of last year to the date of this announcement.