China's Kunlun Energy H1 revenue rises on LNG volume growth

Kunlun Energy

25/08/2026 15:55

Overview
China natural gas distributor's half-year revenue rose 2.6% yr/yr
Net income attributable to shareholders increased 4.6% yr/yr
Earnings per share (basic) climbed 4.9% yr/yr

Outlook
Kunlun Energy expects new industrial-user gas projects in Sichuan and Liaoning to be progressively commissioned in H2
 
Fujian LNG terminal project targets commissioning in H1 2027 to strengthen coastal supply-security capacity

Result Drivers
LNG VOLUME GROWTH – Higher natural-gas sales and LNG plant processing drove revenue growth, with LNG sales up 42.6% yr/yr and processing volume up 29.7%
 
PROCUREMENT AND IMPAIRMENT COSTS – Higher natural-gas procurement volumes lifted resource costs, while receivables impairment provisions increased selling and administrative expenses
RETAIL SALES DECLINE - Retail gas sales volume fell 1.7% yr/yr

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
RMB 100.04 bln
 
H1 Net Income Attributable
 
RMB 3.31 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the natural gas utilities peer group is "buy"
Wall Street's median 12-month price target for Kunlun Energy Company Ltd is HK$8.63, about 23.2% above its August 25 closing price of HK$7.01
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Aug 25 - China's Suntien Green Energy H1 revenue, profit down on weak gas demand
Aug 23 - Sinopec's half-year profit grew 19.3% on year despite Iran war, falling demand
Aug 25 - China Oilfield Services H1 revenue, net income rise, helped by North Sea drilling strength

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)