Core Viewpoint - The company plans to privatize XinAo Energy through its wholly-owned subsidiary and subsequently list on the main board of the Hong Kong Stock Exchange via an introduction listing [1] Group 1 - The company has submitted and updated its application to the Hong Kong Stock Exchange in 2025, with related application materials published on its website as a draft version [1] - The introduction listing is contingent upon the effectiveness of the privatization agreement, which requires approval from relevant government and regulatory authorities, as well as approval from the shareholders' meeting, indicating uncertainty [1] - The company has provided a link for investors to access the application materials and has reminded them to pay attention to subsequent announcements and risks [1]

Company Overview - XinAo Gas Co., Ltd. is the largest private natural gas company in China and ranks third among all market participants, covering the entire natural gas industry chain [3] - The company aims to deepen its integrated layout of the natural gas industry chain and expand its business in energy solutions and smart home services, focusing on low-carbon and sustainable energy needs [3] - XinAo Gas provides a full suite of services, including natural gas sales, energy solutions, engineering construction, and infrastructure operation, with most revenue derived from domestic operations [3] Financial Performance - The company recorded revenues of RMB 146.113 billion, RMB 137.841 billion, RMB 131.715 billion, and RMB 64.489 billion for the years 2022, 2023, 2024, and the six months ending June 30, 2025, respectively [6] - Profit figures for the same periods were RMB 11.073 billion, RMB 12.530 billion, RMB 9.944 billion, and RMB 4.702 billion [7] - The gross profit margins for 2022, 2023, 2024, and the six months ending June 30, 2025, were 14%, 13.6%, 13.7%, and 14.2%, respectively [9][10] Revenue Breakdown - Natural gas sales accounted for 82.3%, 79.3%, 78.9%, 78.2%, and 81.0% of total revenue for the years 2022 to 2025 [3] - The second-largest revenue source, the energy solutions business, contributed 8.2%, 11.0%, 11.8%, 12.9%, and 10.8% to total revenue during the same periods [4] Industry Context - The global natural gas market is projected to grow from approximately 3,822.8 billion cubic meters in 2020 to about 4,212.0 billion cubic meters by 2024, with a compound annual growth rate (CAGR) of around 2.5% [11] - China is the third-largest natural gas consumer globally, with consumption expected to reach 426.1 billion cubic meters by 2024, accounting for 10.1% of global consumption [11] - The natural gas supply in China is expected to reach approximately 427.9 billion cubic meters by 2024, with domestic production contributing 57.6% and imports 42.4% [14] Infrastructure Development - The total length of China's long-distance natural gas pipelines is projected to grow from about 110,000 kilometers in 2020 to approximately 128,000 kilometers by 2024, with a CAGR of 3.9% [17] - The design capacity of LNG receiving stations in China is expected to increase from about 82.3 million tons per year in 2020 to approximately 156 million tons per year by 2024, reflecting a CAGR of about 17.5% [17]

Core Viewpoint - Xin'ao Gas Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with China International Capital Corporation as its sole sponsor, following a previous application in June 2023 [1][3]. Company Overview - Xin'ao Gas is the largest private natural gas company in China and ranks third among all market participants, covering the entire natural gas industry chain [3]. - The company focuses on integrated natural gas solutions and has expanded its business into energy services and smart home solutions, aiming to become a leader in global energy transition [3]. - The company’s revenue is primarily derived from natural gas sales, which accounted for 82.3%, 79.3%, 78.9%, 78.2%, and 81.0% of total revenue for the years 2022 to 2025 [3]. Revenue Breakdown - The second largest source of revenue is the "Pan Energy" business, which includes energy supply services and solutions, contributing 8.2%, 11.0%, 11.8%, 12.9%, and 10.8% to total revenue from 2022 to 2025 [4]. Business Model - The company employs a vertically integrated business model across the entire natural gas value chain, securing long-term resources and operating a large LNG receiving station [5]. - As of June 30, 2025, the company serves over 32 million residential users and 290,000 industrial and commercial customers, making it the largest private city gas company in China [5]. Financial Performance - Revenue figures for the years 2022, 2023, 2024, and the first half of 2025 are recorded at RMB 146.11 billion, RMB 137.84 billion, RMB 131.72 billion, and RMB 64.49 billion respectively [6]. - Profit figures for the same periods are RMB 11.07 billion, RMB 12.53 billion, RMB 9.94 billion, and RMB 4.70 billion [6]. Profitability Metrics - The gross profit margins for the years 2022, 2023, 2024, and the first half of 2025 are 14.0%, 13.6%, 13.7%, and 14.2% respectively [8][9]. - The net profit margins for the same periods are 7.6%, 9.1%, 7.5%, and 7.3% [9]. Industry Overview - The global natural gas market is projected to grow from approximately 3,822.8 billion cubic meters in 2020 to about 4,212.0 billion cubic meters by 2024, with a compound annual growth rate (CAGR) of around 2.5% [10]. - China is the third-largest natural gas consumer globally, with consumption expected to reach 426.1 billion cubic meters by 2024, accounting for 10.1% of global consumption [10]. Supply Chain Analysis - China's natural gas supply is expected to reach approximately 427.9 billion cubic meters by 2024, with domestic production accounting for 57.6% and imports for 42.4% [13]. - The total length of natural gas pipelines in China is projected to grow from about 110,000 kilometers in 2020 to approximately 128,000 kilometers by 2024, driven by strategic projects [16].

Core Viewpoint - XinAo Gas Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as its sole sponsor, marking its second attempt after an initial application in June 2023 [1]. Group 1: Company Overview - XinAo Gas is the largest private natural gas company in China and ranks third among all market participants in the natural gas sector [1]. - The company operates an integrated business model covering the entire natural gas value chain, including upstream, midstream, and downstream operations [1]. Group 2: Business Operations - XinAo Gas provides a comprehensive range of services, including natural gas sales (retail, wholesale, and platform trading), energy services, smart home solutions, engineering construction and installation, and infrastructure operation [1]. - The majority of the company's revenue during the reporting period was generated from domestic operations [1].

Group 1 - The core point of the article is that Xin'ao Gas Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as its sole sponsor, marking its second attempt after a previous application in June 2023 [1] - Xin'ao Gas is recognized as the largest private natural gas company in China and ranks third among all market participants in the natural gas sector, covering the entire natural gas industry chain [1] - The company operates a vertically integrated business model across the upstream, midstream, and downstream sectors of the clean energy industry, providing a comprehensive range of services including natural gas sales, energy services, smart home solutions, engineering construction, and infrastructure operation [1]

Core Viewpoint - XinAo Gas Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, aiming to expand its operations as the largest private natural gas company in China and the third-largest overall in the market [1] Group 1: Company Overview - XinAo Gas Co., Ltd. is recognized as the largest private natural gas enterprise in China and ranks third among all market participants in the natural gas sector [1] - The company operates a vertically integrated business model that covers the entire natural gas value chain, including upstream, midstream, and downstream operations [1] Group 2: Business Operations - XinAo Gas provides a comprehensive range of services, including natural gas sales (retail, wholesale, and platform trading), energy services, smart home solutions, engineering construction and installation, and infrastructure operation [1] - The majority of the company's revenue is derived from domestic operations and business activities [1]

Group 1 - The core point of the article is that Xin'ao Gas Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as its sole sponsor, marking its second attempt after a previous application in June 2023 [1] - Xin'ao Gas is recognized as the largest private natural gas company in China and ranks third among all market participants in the natural gas sector, covering the entire natural gas industry chain [1] - The company operates a vertically integrated business model across the upstream, midstream, and downstream segments of the clean energy industry, providing a comprehensive range of services including natural gas sales, energy services, smart home solutions, engineering construction, and infrastructure operations [1]

香港聯合交易所有限公司與證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整性亦 不發表任何意見，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等內容而引致的任何 損失承擔任何責任。 ENN Natural Gas Co., Ltd. 新奧天然氣股份有限公司 （一家於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）與證券及期貨事務監察委員會（「證監會」）的要求而刊發，僅用 作提供資訊予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣下知悉、接納 並向新奧天然氣股份有限公司（「本公司」）及其保薦人和顧問表示同意： 本申請版本將不會於美國刊發或派發予美國人士。本申請版本所述的任何證券並無亦不會根據1933年美國證券法（經 修訂）或美國任何州份證券法例登記，亦不可在未根據該證券法登記或未取得該證券法的豁免的情況下在美國發售或出 售，且將不會於美國進行任何證券公開發售。 本申請版本或其內所載資料並不屬於美國或禁止發售或出售證券的任何其他司法管轄區提呈出售或徵求購買任 ...

证券代码：600803 证券简称：新奥股份 公告编号：临 2025-107 二、2025 年 11 月担保实施情况 新奥天然气股份有限公司 关于 2025 年度预计担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 | 担保对象一 | 被担保人名称 | | 新地能源工程技术有限公司 | | | --- | --- | --- | --- | --- | | | 本次担保额度（万元） | 30,000.00 | | | | | 是否在前期预计额度内 | 是 | 否 | 不适用：_________ | | | 本次担保是否有反担保 | 是 | 否 | 不适用：_________ | | 担保对象二 | 被担保人名称 | | | 新奥新能（浙江）能源贸易有限公司 | | | 本次担保额度（万元） | 30,000.00 | | | | | 是否在前期预计额度内 | 是 | 否 | 不适用：_________ | | | 本次担保是否有反担保 | 是 | 否 |  ...

新奥天然气股份有限公司 2025年第三次临时股东会 会 议 资 料 二〇二五年十二月 召开的日期时间：2025年12月26日10点00分 召开地点：河北省廊坊市开发区华祥路118号新奥科技园B座公司会议室 二、网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025年12月26日 至2025年12月26日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股东 会召开当日的交易时间段，即9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投 票平台的投票时间为股东会召开当日的9:15-15:00。 三、会议内容： 会议议程 一、现场会议召开的日期、时间和地点 币种：人民币 单位：万元 新奥天然气股份有限公司 二〇二五年十二月二十六日 （一）主持人宣布开会及出席现场股东会情况 （二）选举监票员和计票员 （三）会议议程 1、审议《关于2026年度担保额度预计的议案》 2、审议《关于新增反担保事项的议案》 3、审议《关于2026年度外汇套期保值额度预计的议案》 4、审议《关于2026年度大宗商品套期保值额度预计的议案》 5 ...