Xinjiang Hongtong Natural Gas Co. Ltd.

Hongtong Gas and Shuifa Gas disclosed their 2026 semi-annual reports on the same day, with second-quarter net profit attributable to shareholders rising 2055.25% and 565.53% quarter-on-quarter respectively. Hongtong Gas reported first-half revenue of 1.335 billion yuan, down 10.20% year-on-year, and net profit attributable to shareholders of 98.9563 million yuan, up 35.77% year-on-year. Shuifa Gas reported first-half revenue of 1.117 billion yuan, down 6.08% year-on-year, and net profit attributable to shareholders of 40.3321 million yuan, turning from a loss to a profit year-on-year. Both companies saw revenue decline but profit surge, mainly due to a rapid spike in LNG prices in the second quarter, locking in low-cost gas sources, and reversals of impairments. Among the top ten shareholders, Morgan Stanley increased its holdings in both companies, raising its stake in Hongtong Gas by 831,300 shares to 938,600 shares, and increasing its stake in Shuifa Gas by more than 2 million shares.

Hongtong Gas disclosed its 2026 semi-annual report. In the first half, net profit attributable to shareholders of the listed company reached 99 million yuan, up 35.77% year on year. Operating revenue was 1.335 billion yuan, a slight year-on-year decline, but operating costs fell 15.80% to 1.101 billion yuan. Finance costs swung from a net expense to a net gain, and the weighted average return on equity rose to 4.80%. Profit growth came mainly from cyclical LNG price benefits and forward-looking procurement strategy. The company increased the share of unconventional gas sources in procurement to offset shrinking imported LNG arrivals and rising feedstock gas prices. It also advanced the construction of charging facilities at refueling stations to cultivate integrated energy services as a new growth driver.