Announcement • May 30
Kunlun Energy Company Limited Approves Final Ordinary Dividend for the Financial Year Ended 31 December 2025, Payable on 21 July 2026 Kunlun Energy Company Limited announced that at the AGM held on 28 May 2026, declared and pay a final dividend of 14.98 RMB cents per ordinary share of the Company for the year ended 31 December 2025. Payable on 21 July 2026 to the Shareholders whose names appear on the register of members of the Company as at 4 June 2026, being the Record Date. Upcoming Dividend • May 26
Upcoming dividend of HK$0.17 per share Eligible shareholders must have bought the stock before 01 June 2026. Payment date: 21 July 2026. Payout ratio is a comfortable 51% and this is well supported by cash flows. Trailing yield: 5.0%. Lower than top quartile of Hong Kong dividend payers (6.9%). In line with average of industry peers (5.2%). Reported Earnings • May 05
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥0.62 (down from CN¥0.69 in FY 2024). Revenue: CN¥194.0b (up 3.7% from FY 2024). Net income: CN¥5.35b (down 10% from FY 2024). Profit margin: 2.8% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 9.3%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 2.8% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has remained flat. Declared Dividend • Mar 26
Final dividend of HK$0.17 announced Shareholders will receive a dividend of HK$0.17. Ex-date: 1st June 2026 Payment date: 21st July 2026 Dividend yield will be 4.7%, which is lower than the industry average of 5.7%. Sustainability & Growth Dividend is covered by both earnings (51% earnings payout ratio) and cash flows (43% cash payout ratio). The dividend has increased by an average of 7.0% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 25
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: CN¥0.62 (down from CN¥0.69 in FY 2024). Revenue: CN¥195.8b (up 4.7% from FY 2024). Net income: CN¥5.35b (down 10% from FY 2024). Profit margin: 2.7% (down from 3.2% in FY 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) missed analyst estimates by 9.3%. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 7% per year. Announcement • Mar 25
Kunlun Energy Company Limited, Annual General Meeting, May 28, 2026 Kunlun Energy Company Limited, Annual General Meeting, May 28, 2026. Announcement • Mar 10
Kunlun Energy Company Limited to Report Fiscal Year 2025 Results on Mar 24, 2026 Kunlun Energy Company Limited announced that they will report fiscal year 2025 results on Mar 24, 2026 Announcement • Jan 30
Kunlun Energy Company Limited Announces Board and Committee Changes, Effective January 30, 2026 Kunlun Energy Company Limited announces that Mr. Qian Zhijia has resigned as an executive director and authorized representative of the Company due to change of work arrangements with effect from January 30, 2026. The Board announces that with effect from January 30, 2026, Mr. He Yongli has been appointed as an executive director and authorized representative of the Company. Mr. He, aged 45, is currently the vice president and safety director of the Company, concurrently serving as the general manager and safety director of PetroChina Natural Gas Marketing Company. Mr. He is a senior engineer and obtained his doctorate in engineering from China University of Geosciences (Beijing) in July 2010. Mr. He has over 20 years of working experience within the oil and natural gas industry. Since July 2002, he has successively held positions at Liaohe Oilfield Branch of PetroChina Company Limited and CNPC Greatwall Drilling Engineering Company Limited. He joined the Company in January 2012. Since January 2018, he has served as the general manager of PetroChina Jiangsu LNG Co. Ltd. Since May 2020, he has served as the general manager of the Quality, Health, Safety and Environmental Protection Department of the Company. Since February 2021, he has served as the vice president of PetroChina Natural Gas Marketing Company (Western Branch). From September 2021, he has concurrently served as the executive vice president of Tarim Oilfield Dina Branch (on secondment). From December 2022, he has served as the vice president of the Company. From April 2023, he has concurrently served as the safety director of the Company. From January 2026, he has served as the general manager and safety director of the PetroChina Natural Gas Marketing Company. Following the change of directorship as disclosed above, with effect from January 30, 2026, Mr. Qian has ceased to be the chairman and a member of the sustainability committee of the Company, Mr. He, who is already a member of the sustainability committee of the Company, has been appointed as the chairman of the sustainability committee of the Company, and Mr. Qi Zhenzhong, a non-executive Director, has been appointed as a member of the sustainability committee of the Company. Reported Earnings • Sep 20
First half 2025 earnings released: EPS: CN¥0.36 (vs CN¥0.38 in 1H 2024) First half 2025 results: EPS: CN¥0.36 (down from CN¥0.38 in 1H 2024). Revenue: CN¥97.5b (up 5.0% from 1H 2024). Net income: CN¥3.16b (down 4.4% from 1H 2024). Profit margin: 3.2% (down from 3.6% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Declared Dividend • Aug 21
First half dividend of HK$0.18 announced Shareholders will receive a dividend of HK$0.18. Ex-date: 2nd September 2025 Payment date: 23rd October 2025 Dividend yield will be 4.6%, which is lower than the industry average of 5.7%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (41% cash payout ratio). The dividend has increased by an average of 6.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 27% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 20
First half 2025 earnings released: EPS: CN¥0.36 (vs CN¥0.38 in 1H 2024) First half 2025 results: EPS: CN¥0.36 (down from CN¥0.38 in 1H 2024). Revenue: CN¥97.5b (up 5.0% from 1H 2024). Net income: CN¥3.16b (down 4.4% from 1H 2024). Profit margin: 3.2% (down from 3.6% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Announcement • Aug 07
Kunlun Energy Company Limited to Report Q2, 2025 Results on Aug 19, 2025 Kunlun Energy Company Limited announced that they will report Q2, 2025 results on Aug 19, 2025 Announcement • May 30
Kunlun Energy Company Limited Approves Final Ordinary dividend for the Financial Year End 31 December 2024, Payable on July 18, 2025 Kunlun Energy Company Limited approved final ordinary dividend of RMB 0.1517 per share for the financial year end 31 December 2024. Ex-dividend date 02 June 2025, Record date 05 June 2025 and Payment date 18 July 2025. Upcoming Dividend • May 26
Upcoming dividend of HK$0.16 per share Eligible shareholders must have bought the stock before 02 June 2025. Payment date: 18 July 2025. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of Hong Kong dividend payers (7.7%). Lower than average of industry peers (4.8%). Reported Earnings • May 02
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥0.69 (up from CN¥0.66 in FY 2023). Revenue: CN¥187.0b (up 5.5% from FY 2023). Net income: CN¥5.96b (up 4.9% from FY 2023). Profit margin: 3.2% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.6%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Mar 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: CN¥0.69 (up from CN¥0.66 in FY 2023). Revenue: CN¥189.5b (up 6.9% from FY 2023). Net income: CN¥5.96b (up 4.9% from FY 2023). Profit margin: 3.1% (down from 3.2% in FY 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 5.6%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Announcement • Mar 11
Kunlun Energy Company Limited to Report Fiscal Year 2024 Results on Mar 25, 2025 Kunlun Energy Company Limited announced that they will report fiscal year 2024 results on Mar 25, 2025 Upcoming Dividend • Sep 02
Upcoming dividend of HK$0.18 per share Eligible shareholders must have bought the stock before 09 September 2024. Payment date: 31 October 2024. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 4.6%. Lower than top quartile of Hong Kong dividend payers (8.3%). Lower than average of industry peers (5.5%). Reported Earnings • Aug 27
First half 2024 earnings released: EPS: CN¥0.38 (vs CN¥0.37 in 1H 2023) First half 2024 results: EPS: CN¥0.38 (up from CN¥0.37 in 1H 2023). Revenue: CN¥92.9b (up 6.7% from 1H 2023). Net income: CN¥3.31b (up 2.6% from 1H 2023). Profit margin: 3.6% (down from 3.7% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 2% per year. Announcement • Aug 12
Kunlun Energy Company Limited to Report Q2, 2024 Results on Aug 26, 2024 Kunlun Energy Company Limited announced that they will report Q2, 2024 results on Aug 26, 2024 Announcement • May 31
Kunlun Energy Company Limited Approves Final Dividend for the Year Ended 31 December 2023, Payment 18 July 2024 Kunlun Energy Company Limited approved Final Dividend of RMB 28.38 per share for the Year Ended 31 December 2023, payable on 18 July 2024 to the Shareholders whose names appear on the register of members of the Company as at 6 June 2024, being the Record Date. Upcoming Dividend • May 27
Upcoming dividend of HK$0.30 per share Eligible shareholders must have bought the stock before 03 June 2024. Payment date: 18 July 2024. Payout ratio is a comfortable 43% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Hong Kong dividend payers (7.6%). Lower than average of industry peers (4.9%). Announcement • May 09
Kunlun Energy Company Limited Announces Board Changes The board (the "Board") of directors (the "Directors") of Kunlun Energy Company Limited announces that Mr. Zhou Yuanhong has resigned as an executive Director due to his other work engagements with effect from 8 May 2024. The Board announce that with effect from 8 May 2024, Ms. Lyu Jing has been appointed as a non-executive Director. Ms. Lyu Jing ("Ms. Lyu"), aged 45, currently serves as the deputy director-general of the legal &corporate reform department of China National Petroleum Corporation ("CNPC") and the supervisor of China Petroleum Engineering Corporation. Ms. Lyu holds a Ph.D. in Law with extensive legal expertise and over 20 years of experience in the oil and gas industry. She has long been engaged in the legal compliance work for the international business of CNPC, and has successively engaged in legal work in CNPC-AktobeMunaiGas JSC, PetroKazakhstanInc. and PetroChina International Exploration & Development Company; since December 2014, she has successively served as the director of the legal department, director of the shareholders' affairs department, deputy general counsel, and deputy chief economist of China National Oil and Gas Exploration and Development Co., Limited; since June 2021, she has served as the deputy director-general and general counsel of China Petroleum Technology and Development Corporation; since July 2023, she has served as the deputy director-general of the legal & corporate reform department of CNPC. Ms. Lyu is a senior economist and received her bachelor of laws degree from the Moscow State University of Economics, Statistics, and Informatics and her Ph.D. in laws from the Kutafin Moscow State Law University. Announcement • Apr 21
Kunlun Energy Company Limited, Annual General Meeting, May 30, 2024 Kunlun Energy Company Limited, Annual General Meeting, May 30, 2024, at 11:00 China Standard Time. Location: Concord Room, 8th Floor, Renaissance Harbour View Hotel Hong Kong, 1 Harbour Road, Wanchai Hong kong Wanchai Hong Kong Agenda: To receive, consider and adopt the audited financial statements of the Company and the reports of Directors and of the auditor of the Company for the year ended 31 December 2023; To declare and pay a final dividend of RMB28.38 cents per ordinary share of the Company for the year ended 31 December 2023. Declared Dividend • Mar 27
Dividend of HK$0.30 announced Shareholders will receive a dividend of HK$0.30. Ex-date: 3rd June 2024 Payment date: 18th July 2024 Dividend yield will be 4.6%, which is lower than the industry average of 5.7%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (28% cash payout ratio). The dividend has increased by an average of 4.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 30% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 26
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: CN¥0.66 (up from CN¥0.60 in FY 2022). Revenue: CN¥177.4b (up 3.1% from FY 2022). Net income: CN¥5.68b (up 8.7% from FY 2022). Profit margin: 3.2% (up from 3.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Mar 09
Kunlun Energy Company Limited to Report Fiscal Year 2023 Results on Mar 25, 2024 Kunlun Energy Company Limited announced that they will report fiscal year 2023 results on Mar 25, 2024 Reported Earnings • Aug 30
First half 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.36 in 1H 2022) First half 2023 results: EPS: CN¥0.37 (up from CN¥0.36 in 1H 2022). Revenue: CN¥87.1b (up 3.8% from 1H 2022). Net income: CN¥3.22b (up 4.6% from 1H 2022). Profit margin: 3.7% (in line with 1H 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Announcement • Aug 15
Kunlun Energy Company Limited to Report First Half, 2023 Results on Aug 29, 2023 Kunlun Energy Company Limited announced that they will report first half, 2023 results on Aug 29, 2023 Upcoming Dividend • May 29
Upcoming dividend of HK$0.29 per share at 4.3% yield Eligible shareholders must have bought the stock before 05 June 2023. Payment date: 20 July 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.3%. Lower than top quartile of Hong Kong dividend payers (7.7%). In line with average of industry peers (4.3%). Reported Earnings • Mar 29
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: CN¥0.60 (up from CN¥0.59 in FY 2021). Revenue: CN¥172.9b (up 25% from FY 2021). Net income: CN¥5.23b (up 1.7% from FY 2021). Profit margin: 3.0% (down from 3.7% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.9%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Jasper Tsang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improved over the past week After last week's 17% share price gain to HK$5.47, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Gas Utilities industry in Hong Kong. Total returns to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment improved over the past week After last week's 16% share price gain to HK$6.85, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Gas Utilities industry in Hong Kong. Total returns to shareholders of 64% over the past three years. Reported Earnings • Aug 24
First half 2022 earnings released: EPS: CN¥0.36 (vs CN¥0.30 in 1H 2021) First half 2022 results: EPS: CN¥0.36 (up from CN¥0.30 in 1H 2021). Revenue: CN¥84.2b (up 30% from 1H 2021). Net income: CN¥3.08b (up 19% from 1H 2021). Profit margin: 3.7% (down from 4.0% in 1H 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 5.3%, compared to a 7.9% growth forecast for the Gas Utilities industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Jul 17
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Jasper Tsang was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • May 23
Upcoming dividend of HK$0.25 per share Eligible shareholders must have bought the stock before 30 May 2022. Payment date: 14 July 2022. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of Hong Kong dividend payers (7.8%). In line with average of industry peers (3.7%). Reported Earnings • Mar 31
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: CN¥0.59 (up from CN¥0.41 in FY 2020). Revenue: CN¥138.5b (up 27% from FY 2020). Net income: CN¥5.14b (up 44% from FY 2020). Profit margin: 3.7% (up from 3.3% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Over the next year, revenue is forecast to grow 11%, compared to a 11% growth forecast for the industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has fallen by 7% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorated over the past week After last week's 28% share price decline to HK$5.31, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 7x in the Gas Utilities industry in Hong Kong. Total loss to shareholders of 4.3% over the past three years.