Core Insights - Changchun Gas (600333.SH) reported a total operating revenue of 1.066 billion yuan for the first half of 2025, ranking 14th among disclosed peers, which represents a decrease of 64.32 million yuan or 5.69% year-on-year [1] - The company recorded a net profit attributable to shareholders of -55.08 million yuan, ranking 20th among peers, with a decline of 2.31 million yuan compared to the same period last year [1] - Operating cash flow showed a net outflow of 141 million yuan, ranking 20th among peers, down 173 million yuan year-on-year, reflecting a significant decline of 539.92% [1] Financial Ratios - The latest debt-to-asset ratio stands at 70.60%, ranking 21st among peers, with a slight increase of 0.01 percentage points from the previous quarter and an increase of 0.40 percentage points year-on-year [3] - The gross profit margin is reported at 18.21%, ranking 8th among peers, with a decrease of 2.20 percentage points from the previous quarter but an increase of 1.26 percentage points year-on-year, marking two consecutive years of growth [3] - Return on equity (ROE) is at -2.93%, ranking 20th among peers, with a decrease of 0.16 percentage points compared to the same period last year [3] Earnings Per Share and Turnover Ratios - The diluted earnings per share is -0.09 yuan, ranking 20th among peers, remaining stable compared to the same period last year [3] - The total asset turnover ratio is 0.16 times, ranking 20th among peers, showing a decrease of 0.01 times year-on-year, which is a decline of 6.00% [3] - The inventory turnover ratio is 1.87 times, ranking 20th among peers, down 0.40 times year-on-year, reflecting a decrease of 17.43% [3] Shareholder Structure - The number of shareholders is reported at 44,700, with the top ten shareholders holding 372 million shares, accounting for 61.06% of the total share capital [3] - The largest shareholder is Changchun Changgang Gas Co., Ltd., holding 58.75% of the shares [3]

Group 1 - The core point of the article is that Changchun Gas reported a decline in revenue and a net loss for the first half of 2025, indicating financial challenges for the company [1] Group 2 - For the first half of 2025, the company achieved operating revenue of 1,065,645,657.97 yuan, which represents a year-on-year decrease of 5.69% [1] - The net profit attributable to shareholders of the listed company was -55,084,744.46 yuan, indicating a loss [1]

Core Viewpoint - Changchun Gas (600333.SH) reported a decline in revenue and a net loss for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved an operating revenue of 1.066 billion yuan, representing a year-on-year decrease of 5.69% [1] - The net profit attributable to shareholders was a loss of 55.0847 million yuan [1] - The basic earnings per share were reported at -0.09 yuan [1]

Core Viewpoint - Changchun Gas Co., Ltd. reported a decline in revenue and increased losses in the first half of 2025, primarily due to reduced natural gas sales and operational challenges in the gas and engineering installation sectors [1][2]. Company Overview and Financial Indicators - The company’s total revenue for the first half of 2025 was approximately CNY 1.07 billion, a decrease of 5.69% compared to the same period last year [2][10]. - The total profit for the period was a loss of approximately CNY 55.37 million, compared to a loss of CNY 50.42 million in the previous year [2][10]. - The net profit attributable to shareholders was approximately CNY -55.08 million, compared to CNY -52.78 million in the previous year [2][10]. - The net cash flow from operating activities was approximately CNY -141.16 million, a significant decline from CNY 32.09 million in the previous year [2][10]. Business Operations - The company primarily engages in urban pipeline gas services, municipal engineering construction, and clean energy supply services [3][4]. - The natural gas consumption in China showed a modest increase of 1.8% in the first half of 2025, with urban gas consumption at 838 billion cubic meters, reflecting a growth rate of only 1.2% [3][4]. - The company has focused on enhancing operational efficiency and customer service through smart operations and regional optimization [3][4]. Market and Industry Analysis - The macro demand for natural gas has shifted from rapid expansion to resilient growth, with regional disparities noted in consumption patterns [3][4]. - The company is adapting to changes in pricing mechanisms and infrastructure developments, including the completion of new long-distance pipelines [3][4]. - The government has initiated policies to promote clean energy and reduce coal usage, which may benefit the company’s clean energy initiatives [6][7]. Financial Performance and Cost Management - The company’s operating costs decreased by 7.13% to approximately CNY 871.60 million, attributed to lower natural gas sales [10]. - Sales expenses decreased by 6.44%, while management expenses increased by 9.96%, indicating a need for tighter cost control [10]. - The company’s financial health is under pressure, with a significant increase in long-term borrowings by 63.90% to approximately CNY 992.65 million [10]. Strategic Initiatives - The company is expanding its value-added services, including online platforms and community retail, to enhance customer experience and satisfaction [8][9]. - There is a focus on integrating smart gas solutions and enhancing service delivery through digital platforms [8][9]. - The company aims to leverage its existing customer base to explore new business growth opportunities in the clean energy sector [5][6].

Core Points - The company reported a total asset of approximately 6.57 billion RMB at the end of the reporting period, a decrease of 4.81% compared to the previous year [1] - The net asset attributable to shareholders decreased by 2.42% to approximately 1.88 billion RMB [1] - The operating revenue for the period was approximately 1.07 billion RMB, down 5.69% year-on-year [1] - The total profit for the period was a loss of approximately 55.37 million RMB, compared to a loss of 50.42 million RMB in the same period last year [1] - The net profit attributable to shareholders was a loss of approximately 55.08 million RMB, compared to a loss of 52.78 million RMB in the previous year [1] - The net cash flow from operating activities was negative at approximately -141.16 million RMB, a significant decrease from a positive cash flow of 32.09 million RMB in the same period last year [1] - The weighted average return on net assets decreased by 0.15 percentage points to -2.89% [1] - Basic and diluted earnings per share remained at -0.09 RMB [1] Company Overview - The company is listed on the Shanghai Stock Exchange under the stock code 600333, with the name "长春燃气" [1] - The total number of shareholders at the end of the reporting period was 44,656 [1] - The largest shareholder, 长春长港燃气有限公司, holds 58.75% of the shares [1]

智通财经APP讯，长春燃气(600333.SH)披露2025年半年度报告，报告期公司实现营收10.66亿元，同比 下降5.69%;归母净利润亏损5508万元;扣非净利润亏损6644万元;基本每股收益-0.09元。 ...

长春燃气股份有限公司2025 年半年度报告 公司代码：600333 公司简称：长春燃气 长春燃气股份有限公司 2025 年半年度报告 1 / 112 长春燃气股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确 性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人董志宇、主管会计工作负责人张大海及会计机构负责人（会计主管人员）李东 辉声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 □适用 √不适用 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 报告期内，公司不存在对生产经营产生实质性影响的特别重大风险。 十一、 其他 □适用 √不适用 2 / 112 | ...

Core Viewpoint - Changchun Gas reported a decline in revenue and an increase in net loss for the first half of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first half of 2025 was 1.066 billion yuan, representing a year-on-year decrease of 5.69% [1] - The net loss attributable to shareholders was 55.0847 million yuan, compared to a net loss of 52.7771 million yuan in the same period last year [1] - Basic earnings per share remained unchanged at -0.09 yuan per share compared to the previous year [1]

Market Overview - The gas sector experienced a decline of 1.07% on August 19, with Hongtong Gas leading the drop [1] - The Shanghai Composite Index closed at 3727.29, down 0.02%, while the Shenzhen Component Index closed at 11821.63, down 0.12% [1] Stock Performance - Key gainers in the gas sector included: - KAITIAN Gas: Closed at 15.05, up 9.61% with a trading volume of 234,500 shares and a turnover of 342 million yuan [1] - Shaanxi Natural Gas: Closed at 9.30, up 6.77% with a trading volume of 522,200 shares and a turnover of 474 million yuan [1] - Water Development Gas: Closed at 6.97, up 3.26% with a trading volume of 191,000 shares and a turnover of 132 million yuan [1] - Notable decliners included: - Hongtong Gas: Closed at 17.45, down 8.88% with a trading volume of 303,100 shares and a turnover of 535 million yuan [2] - Fuan Energy: Closed at 12.30, down 7.66% with a trading volume of 566,300 shares and a turnover of 705 million yuan [2] - ST Jinj Chicken: Closed at 3.18, down 5.07% with a trading volume of 228,100 shares and a turnover of 73.59 million yuan [2] Capital Flow - The gas sector saw a net outflow of 166 million yuan from institutional investors, while retail investors contributed a net inflow of 250 million yuan [2] - The capital flow for specific stocks showed: - Shaanxi Natural Gas: Institutional net outflow of 37.69 million yuan, retail net outflow of 3.12 million yuan [3] - Changchun Gas: Institutional net inflow of 23.22 million yuan, retail net outflow of 10.83 million yuan [3] - Water Development Gas: Institutional net inflow of 20.99 million yuan, retail net inflow of 18.98 million yuan [3]

Market Performance - The gas sector increased by 1.92% on August 18, with Shengda Forestry leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Top Gainers in Gas Sector - Shengda Forestry (002259) closed at 5.10, up 7.59% with a trading volume of 925,300 shares and a turnover of 475 million yuan [1] - Shaanxi Natural Gas (002267) closed at 8.71, up 7.53% with a trading volume of 584,500 shares and a turnover of 506 million yuan [1] - Other notable gainers include Teris (834014) at 14.01 (+2.86%), Kaitan Gas (831010) at 13.73 (+2.39%), and Guizhou Gas (600903) at 7.11 (+0.85%) [1] Top Losers in Gas Sector - ST Jinjii (000669) closed at 3.35, down 2.90% with a trading volume of 180,600 shares and a turnover of 60.48 million yuan [2] - Shenzhen Gas (601139) closed at 6.96, down 2.79% with a trading volume of 963,800 shares and a turnover of 683 million yuan [2] - Other notable losers include Hongtong Gas (605169) at 19.15 (-2.15%) and Xinjiang Torch (603080) at 21.87 (-1.71%) [2] Capital Flow in Gas Sector - The gas sector experienced a net outflow of 180 million yuan from main funds, while retail investors saw a net inflow of 142 million yuan [2] - Speculative funds had a net inflow of 37.76 million yuan [2]