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ENN ENERGY (02688.HK) Announces Possible Near-term Buying of Shrs by Controlling Shareholder
ENN ENERGY (02688.HK) announced that controlling shareholder Wang Yusuo is considering and may conduct on-market purchases of the company’s shares, possibly in the near future.
However, no final decision has been made in respect of the price and the timing of the purchase.
Wang Yuxiao currently holds a total of 369 million shares, or 32.66% of the company's shares, through his personal interests and controlled companies, of which 32.64% is held through the Shanghai Stock Exchange-listed ENN (600803.SH) -0.860 (-4.831%) .
Related News: ENN ENERGY Interim NP RMB3.333B, Up 7.3%; Interim Div Keeps at HK64 Cents
Since the voting rights in shares held by Wang fall within the range of 30% and 50% of the issued shares of ENN ENERGY, he and/or the Shanghai-listed ENN would be required under the Takeovers Code to make a mandatory offer for all the issued shares, if their voting rights in shares increased by more than 2% from their respective lowest percentage holding within any 12-month period.
Wang and the Shanghai-listed ENN have not purchased any shares in the past 12 months, and they have no intention to conduct the on-market purchases to an extent that would result in a mandatory offer being required under the Takeovers Code.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
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ENN Energy 2688
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Re: ENN Energy 2688
by winston » Fri Aug 25, 2023 2:08 pm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: ENN Energy 2688
by winston » Fri Aug 25, 2023 3:28 pm
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ENN ENERGY Expects Price Change Pass through Impact to Gradually Appear, Confident in Achieving Full-yr Growth Guidance
Wang Weiyi, the President Assistant of ENN ENERGY (02688.HK), said that the Company will enhance gas management for new and existing customers in 2H23.
Wang was optimistic about the introduction of the national policy of stimulating consumption, as it is expected to boost industrial activity, which will be conducive to the Company's ability to secure industrial and commercial natural gas orders.
Related News: ENN ENERGY Interim NP RMB3.333B, Up 7.3%; Interim Div Keeps at HK64 Cents
As for the impact of the implementation of the natural gas price pass through policy in a number of provinces in China, Wang said that the nation and the market are very concerned about the price pass through issue.
As the completion of the adjustment of the price pass through of some residents in 1H23 was deemed as the corporate safety and compliance governance, the Company will continue to promote price pass through in 2H23.
It is expected that the relevant impacts will gradually appear over time, and the company will be committed to the establishment of a diversified supply pool to ensure that the gas price divergences stable.
Related News: HSBC Global Research Lowers ENN ENERGY (02688.HK) TP to $100, Rating Buy
Wang also pointed out that in 1H23, the number of newly developed users reached 998,000, and the newly developed natural gas commercial and industrial users have installed a daily design gas supply capacity of 8.36 million cubic meters, which is basically in line with the Company's expectations, and is confident in achieving the full-year growth guidance.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
ENN ENERGY Expects Price Change Pass through Impact to Gradually Appear, Confident in Achieving Full-yr Growth Guidance
Wang Weiyi, the President Assistant of ENN ENERGY (02688.HK), said that the Company will enhance gas management for new and existing customers in 2H23.
Wang was optimistic about the introduction of the national policy of stimulating consumption, as it is expected to boost industrial activity, which will be conducive to the Company's ability to secure industrial and commercial natural gas orders.
Related News: ENN ENERGY Interim NP RMB3.333B, Up 7.3%; Interim Div Keeps at HK64 Cents
As for the impact of the implementation of the natural gas price pass through policy in a number of provinces in China, Wang said that the nation and the market are very concerned about the price pass through issue.
As the completion of the adjustment of the price pass through of some residents in 1H23 was deemed as the corporate safety and compliance governance, the Company will continue to promote price pass through in 2H23.
It is expected that the relevant impacts will gradually appear over time, and the company will be committed to the establishment of a diversified supply pool to ensure that the gas price divergences stable.
Related News: HSBC Global Research Lowers ENN ENERGY (02688.HK) TP to $100, Rating Buy
Wang also pointed out that in 1H23, the number of newly developed users reached 998,000, and the newly developed natural gas commercial and industrial users have installed a daily design gas supply capacity of 8.36 million cubic meters, which is basically in line with the Company's expectations, and is confident in achieving the full-year growth guidance.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/news/ ... -news/AAFN
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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- Joined: Wed May 07, 2008 9:28 am
Re: ENN Energy 2688
by winston » Thu Sep 07, 2023 11:26 am
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Citi Upgrades ENN ENERGY (02688.HK) to Buy; Notes its Lowest P/E but Highest ROE in Sector
2023/09/06
Citi Research wrote in a report that ENN ENERGY (02688.HK) has retreated to its 2017 low and is down 69% from its August 2021 high, due to an unexpected drop in retail natural gas sales and weaker-than-expected earnings in 1H.
The broker nevertheless upgraded its rating from Neutral to Buy with a target price of $83.
The broker commented that despite the negative impact of a 6.9% YoY decline in natural gas sales in 1H, ENN's sales resumed growth in July-August, in line with the positive growth in natural gas consumption on the mainland.
Although the company's core earnings performance in 2023-2024 may be rather muted due to lower LNG trading revenues, the company is free cash flow positive and the dividend payout ratio has increased, driving the dividend yield to 4.9% in 2024.
In addition, Citi said the positive catalysts for ENN include potential personnel changes, in addition to the start of share buybacks by its chairman.
The company's 2023 forecasted P/E ratio of 7.4x is the lowest among its major peers, but with the highest return on equity.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
Citi Upgrades ENN ENERGY (02688.HK) to Buy; Notes its Lowest P/E but Highest ROE in Sector
2023/09/06
Citi Research wrote in a report that ENN ENERGY (02688.HK) has retreated to its 2017 low and is down 69% from its August 2021 high, due to an unexpected drop in retail natural gas sales and weaker-than-expected earnings in 1H.
The broker nevertheless upgraded its rating from Neutral to Buy with a target price of $83.
The broker commented that despite the negative impact of a 6.9% YoY decline in natural gas sales in 1H, ENN's sales resumed growth in July-August, in line with the positive growth in natural gas consumption on the mainland.
Although the company's core earnings performance in 2023-2024 may be rather muted due to lower LNG trading revenues, the company is free cash flow positive and the dividend payout ratio has increased, driving the dividend yield to 4.9% in 2024.
In addition, Citi said the positive catalysts for ENN include potential personnel changes, in addition to the start of share buybacks by its chairman.
The company's 2023 forecasted P/E ratio of 7.4x is the lowest among its major peers, but with the highest return on equity.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: ENN Energy 2688
by winston » Thu Sep 07, 2023 11:29 am
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UOB Kay Hian Lowers ENN ENERGY (02688.HK) TP to $102, Rating Buy
2023/08/28
UOB Kay Hian released a rating report saying that ENN ENERGY (02688.HK)'s 1H23 core profit fell 5% YoY to reach 47% of UOB Kay Hian's 2023 full-year forecast, which is in line with expectations.
The Company announced interim dividend of $64 cents per share, flat YoY, while gross profit margin expanded by 1.4 ppts YoY to 13.2%.
Related News: Citi Upgrades ENN ENERGY (02688.HK) to Buy; Notes its Lowest P/E but Highest ROE in Sector
The Company lowered its full-year retail sales volume guidance to a YoY decline of no more than 5% and maintained its full-year LNG trading gain guidance at RMB1.5 billion.
UOB Kay Hian cut its earnings forecast for 2023, 2024 and 2025 by 8%, 7% and 7% respectively, and lowered its target price from $128 to $102, with rating kept at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
UOB Kay Hian Lowers ENN ENERGY (02688.HK) TP to $102, Rating Buy
2023/08/28
UOB Kay Hian released a rating report saying that ENN ENERGY (02688.HK)'s 1H23 core profit fell 5% YoY to reach 47% of UOB Kay Hian's 2023 full-year forecast, which is in line with expectations.
The Company announced interim dividend of $64 cents per share, flat YoY, while gross profit margin expanded by 1.4 ppts YoY to 13.2%.
Related News: Citi Upgrades ENN ENERGY (02688.HK) to Buy; Notes its Lowest P/E but Highest ROE in Sector
The Company lowered its full-year retail sales volume guidance to a YoY decline of no more than 5% and maintained its full-year LNG trading gain guidance at RMB1.5 billion.
UOB Kay Hian cut its earnings forecast for 2023, 2024 and 2025 by 8%, 7% and 7% respectively, and lowered its target price from $128 to $102, with rating kept at Buy.
Source: AAStocks Financial News
http://www.aastocks.com/en/stocks/analy ... stock-news
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
- Posts: 118906
- Joined: Wed May 07, 2008 9:28 am
14 posts
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