ENN Energy (02688) is now down more than 3%. As of the time of publication, it decreased by 3.19% to HKD 53.15 with a turnover of HKD 0.326 billion.
Zhitong Finance and Economics App learned that ENN Energy (02688) is now down more than 3%. As of the time of publication, it decreased by 3.19% to HKD 53.15 with a turnover of HKD 0.326 billion.
Previously, Lyon published a research report indicating that although ENN Energy's operating data for the first five months of this year was lower than the bank's expectations, the company still maintained a 6.4% market share from January to April this year. Although the recent uncertainty of ENN Energy and the lower-than-expected growth of its retail natural gas business have delayed the opportunity for the company to be re-evaluated, the key to releasing positive momentum for the company's stock price is the continuous profitability it obtains.
CICC released a report stating that it is expected that ENN Energy's core profit in the first half of the year will fall by 13% year-on-year, mainly due to the 85% decrease in the settlement income of liquefied natural gas (LNG) contracts. After excluding the impact of the decline in overseas LNG sales, it is estimated that the gross profit of other businesses in the period will increase by 9% year-on-year. It is also expected that the sales volume of retail natural gas in the first half of the year will increase by 4.2% year-on-year due to the low base effect. Taking into account the reduction in profits from the wholesale natural gas volume and the additional value-added business income, the company's core profit forecast for the next two years has been lowered by 3%, and the capital expenditure forecast has also been lowered due to the weakening of merger and acquisition opportunities.