China Suntien (00956) Reports Interim Results with Net Profit of RMB 1.412 Billion, Down 1.23% YoY

Stock News
08/26

China Suntien (00956) announced its interim results for the six months ended June 30, 2025. The group recorded operating revenue of RMB 10.904 billion, representing a year-on-year decrease of 10.16%. Net profit attributable to shareholders of the listed company reached RMB 1.412 billion, down 1.23% compared to the same period last year. Basic earnings per share stood at RMB 0.34.

During the reporting period, the group's controlled wind farms generated 8.065 billion kWh of electricity, up 8.34% year-on-year. The average utilization hours for controlled wind farms reached 1,235 hours, an increase of 23 hours compared to the same period last year, which was 148 hours higher than the national average utilization hours published by the China Electricity Council. The increase in average utilization hours was primarily attributable to higher average wind speeds. The average availability rate of wind turbines was 97.62%, down 0.44 percentage points from the previous year. The wind curtailment rate was 16.85%, up 9.04 percentage points year-on-year.

During the reporting period, the group's natural gas business recorded total transmission/sales volume of 2.814 billion cubic meters, down 17.07% from the same period last year. Gas sales volume totaled 2.578 billion cubic meters, down 14.56% year-on-year, including wholesale gas volume of 1.145 billion cubic meters, down 6.55% year-on-year, primarily due to higher temperatures in the first quarter leading to significantly reduced heating demand and weak industrial demand. Retail gas volume reached 907 million cubic meters, down 14.36% year-on-year, mainly due to higher first-quarter temperatures resulting in substantially reduced heating gas consumption and weak industrial demand. CNG sales volume was 27 million cubic meters, down 33.74% year-on-year, primarily due to CNG market contraction. LNG sales volume totaled 498 million cubic meters, down 27.94% year-on-year, mainly attributable to loose LNG market supply and depressed prices. Gas transmission volume was 236 million cubic meters, down 37.17% year-on-year, primarily due to reduced heating gas consumption.

As of June 30, 2025, the group operated a cumulative 9,944.68 kilometers of pipelines, along with 1 LNG receiving station, 5 CNG mother stations, 3 CNG substations, 3 LNG refueling stations, and 1 L-CNG integrated station.

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