ENN Natural Gas (600803) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 3,114.93 million, down 7.65% year-over-year from Q1 2025.

• Net profit attributable to shareholders decreased by 32.92% year-over-year to RMB 65.50 million.

• Operating profit attributable to shareholders fell 12.78% year-over-year to RMB 94.39 million.

• Cash flow from operating activities dropped sharply by 98.36% year-over-year to RMB 0.95 million.

Financial highlights

• Total assets at March 31, 2026, were RMB 13,912.14 million, up 2.84% from year-end 2025.

• Shareholders’ equity attributable to listed company shareholders was RMB 2,419.66 million, down 1.83% from year-end 2025.

• Basic and diluted EPS for Q1 2026 were both RMB 0.21, down 34.38% year-over-year.

• Weighted average ROE was 2.68%, down 1.37 percentage points year-over-year.

• Non-recurring losses included a RMB 2.80 million loss from disposal of non-current assets and a RMB 16.87 million loss from fair value changes in financial assets/liabilities.

Outlook and guidance

• Decline in net profit mainly attributed to lower fair value gains compared to the same period last year.

• Cash flow from operations impacted by increased upstream gas payments and expanded factoring business.