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Slowing Rates Of Return At Kunlun Energy (HKG:135) Leave Little Room For Excitement
[Hong Kong Stock Connect] Guoyuan International gives KUNLUN ENERGY (00135) a "Buy" rating, indicating that profit and dividends are steadily improving and the long-term investment value is becoming apparent.
Jingwu Financial News | Guoyuan International's Research Reports indicate that in the first half of 2024, KUNLUN ENERGY (00135) achieved revenues of RMB 5.662 billion from LNG processing and storage and transportation Business, a year-on-year increase of 9.14%; pre-tax profit before income tax reached RMB 1.648 billion, a year-on-year growth of 22.89%. Among them, LNG plant pre-tax profit was RMB 0.035 billion, achieving a historic turnaround from loss to profit. In the first half of the year, the company's 14 continuously running plants had an average production load factor of 58.4%, an increase of 19.5 percentage points year-on-year. Achieved 0.466 billion cubic meters of self-produced and self-sold products, and entrusted processing volume of 1.307 billion cubic meters, year-on-year increase.
Securing America's Critical Minerals
KUNLUN ENERGY's controlling shareholder, China National Petroleum Corporation, will transfer 1.48% of the company's equity to China Petroleum & Chemical Corporation.
KUNLUN ENERGY (00135) announced that the Board of Directors has been notified by the company's controlling shareholder, China National Petroleum Corporation, to deepen the strategic cooperation between China National Petroleum Corporation and China Petroleum & Chemical Corporation, and to optimize the company's equity structure. China National Petroleum Corporation will transfer 128,370,000 shares (approximately 1.48% of the total issued share capital as of the date of this announcement) held by its indirect wholly-owned subsidiary, Fairy King Investments Ltd., to a designated wholly-owned subsidiary of China Petroleum & Chemical Corporation. After the completion of this transfer and as of the date of this announcement,
