ENN Energy reported 1H26 revenue of RMB 57.02 billion, up 2.4% year-on-year. Gross profit rose 3.1% to RMB 6.66 billion, while profit attributable to shareholders climbed 9.8% to RMB 2.67 billion. Core profit edged down 1.5% to RMB 3.18 billion as lower fair-value gains offset operating improvements.

Operating cash flow strengthened 16.4% to RMB 3.08 billion, and net gearing dropped to 19.1% from 20.5% at year-end 2025. Total debt slipped slightly to RMB 18.94 billion, with 74% fixed-rate and 63% denominated in renminbi.

The board declared an interim dividend of HK$0.68 (RMB 0.59) per share, representing a 4.6% increase and a 21% payout of core profit.

Segment performance diverged. Retail gas sales revenue increased 2.9% to RMB 31.32 billion and gross profit climbed 10.4% to RMB 3.42 billion, supported by customer expansion to 33.26 million households and 328,040 commercial/industrial sites. Wholesale gas revenue reached RMB 16.31 billion, up 12.8%, adding RMB 0.47 billion to gross profit.

Integrated energy revenue fell 8.6% to RMB 6.31 billion as sales volume slipped 6.7% to 18.44 billion kWh; gross profit contracted 13.0% to RMB 0.95 billion. Construction and installation revenue dropped 26.7% to RMB 1.25 billion, mirroring property-sector weakness, while smart-home revenue declined 15.4% to RMB 1.82 billion.

Retail gas volume edged up 0.8% to 13.05 billion m³ despite volatile international gas prices. The company advanced digital initiatives—such as AI-based equipment diagnostics—and increased derivative hedging to stabilise margins.

Management plans to sustain scale-driven growth in the core gas business, accelerate electricity-focused integrated-energy projects, and deepen AI-enabled smart-home offerings. The company reiterated its commitment to maintain a “multi-value service provider anchored in natural gas operations” strategy while keeping leverage at conservative levels.