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.
Shuifa Energas Gas Co LtdSecond-quarter net profit surged 565.53% QoQ, turning from loss to profit, driven by LNG price spike and impairment reversals.
Xinjiang Hongtong Natural Gas Co. Ltd.Second-quarter net profit surged 2055.25% QoQ, with H1 profit up 35.77% YoY, driven by LNG price spike and impairment reversals.
