Market Overview - The gas sector experienced a decline of 0.39% on January 23, with Teris leading the drop [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] Gas Sector Performance - Notable gainers in the gas sector included: - Delong Huineng (Code: 000593) with a closing price of 16.10, up 9.97% and a trading volume of 178,600 shares, totaling 276 million yuan [1] - Shengda Forestry (Code: 002259) with a closing price of 4.83, up 7.81% and a trading volume of 758,200 shares, totaling 358 million yuan [1] - Shengtong Energy (Code: 001331) with a closing price of 58.94, up 4.60% and a trading volume of 149,700 shares, totaling 880 million yuan [1] Decliners in Gas Sector - Key decliners included: - Teris (Code: 920014) with a closing price of 14.60, down 8.98% and a trading volume of 162,200 shares, totaling 238 million yuan [2] - Kaitian Gas (Code: 920010) with a closing price of 12.85, down 4.96% and a trading volume of 180,200 shares, totaling 231 million yuan [2] - Changchun Gas (Code: 600333) with a closing price of 6.23, down 3.71% and a trading volume of 449,200 shares, totaling 280 million yuan [2] Capital Flow Analysis - The gas sector saw a net outflow of 324 million yuan from main funds, while retail investors contributed a net inflow of 344 million yuan [2] - The detailed capital flow for selected stocks showed: - Delong Huineng had a net inflow of 78.84 million yuan from main funds, but a net outflow of 66.08 million yuan from retail investors [3] - Shengda Forestry experienced a net inflow of 38.03 million yuan from main funds, with a slight net inflow of 237,470 yuan from retail investors [3] - Shengtong Energy had a net inflow of 36.26 million yuan from main funds, but a net outflow of 4.60 million yuan from retail investors [3]

Group 1 - The oil sector is experiencing fluctuations, with funds entering the market at lower prices, as evidenced by the net subscription of 23 million units for the Penghua Oil ETF (159697) [1] - A cold wave in the U.S. has led to a significant increase in natural gas prices [1] - From 2022 to 2025, 67% (195 cities) of cities at the prefecture level and above in China have implemented residential pricing adjustments, with an increase of 0.22 yuan per cubic meter [1] Group 2 - The price difference for leading city gas companies in 2024 is projected to be between 0.53 and 0.54 yuan per cubic meter, with a reasonable distribution fee expected to exceed 0.6 yuan per cubic meter, indicating a potential 10% recovery space [1] - Cost optimization for city gas companies is expected due to relaxed supply conditions, and the pricing mechanism is being refined while demand is anticipated to increase [1] - There is a focus on companies with quality long-term contracts, flexible scheduling, and long-term cost advantages, as well as the importance of energy self-sufficiency due to increased uncertainty in U.S. gas imports [1] Group 3 - As of January 23, 2026, the National Oil and Gas Index (399439) shows mixed performance among its constituent stocks, with Intercontinental Oil and Gas leading at a 3.29% increase, followed by Fuan Energy at 2.73% and Hupoo Co. at 1.96% [1] - The latest price for the Penghua Oil ETF (159697) is 1.29 yuan, which closely tracks the National Oil and Gas Index [1] - The top ten weighted stocks in the National Oil and Gas Index (399439) as of December 31, 2025, include major companies such as China National Petroleum, Sinopec, and China National Offshore Oil, collectively accounting for 67.11% of the index [2]

Core Viewpoint - The company has approved a guarantee limit of up to 36 billion RMB for the year 2025 to support financing and daily procurement needs of its subsidiaries and joint ventures [1] Group 1: Guarantee Approval - The company's board of directors and shareholders have approved the proposal for the 2025 guarantee limit during the 22nd meeting of the 10th board and the third extraordinary general meeting of 2024 [1] - The approved guarantee limit is based on the previous year's balance and is intended for the company's subsidiaries, joint ventures, and affiliated companies [1] Group 2: Guarantee Implementation - As of December 31, 2025, the company and its subsidiaries have provided a total external guarantee balance of 20.132 billion RMB, with no overdue guarantees reported [5] - The guarantees provided to related parties amount to 0 RMB, while the company has provided a joint liability guarantee of 2.3 million RMB to a joint venture [5] Group 3: Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary and reasonable based on the normal operational needs of subsidiaries and joint ventures, with stable operations and good credit status of the guaranteed parties [5] - The guarantees do not harm the interests of the company or minority shareholders and will not adversely affect the company's normal operations and business development [5]

证券代码：600803 证券简称：新奥股份 公告编号：临 2026-003 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。 | 本次担保额度（万元） | 700.00 | | | | --- | --- | --- | --- | | 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：_________ | 累计担保情况 | 对外担保逾期的累计金额（亿元） | | | 0 | | --- | --- | --- | --- | | 截至 年 月 日上市公司及其 2025 12 31 控股子公司对外担保余额（亿元） | | | 201.32 | | 对外担保余额占上市公司最近一期经 审计净资产的比例（%） | | | 85.79 | | 特别风险提示 | | 对外担保余额超过上市公司最近一期经审计净 | | | | 资产 50% | | | | | | 对外担保余额超过上市 ...

Core Viewpoint - The announcement details the pledge of shares by a major shareholder of Xin'ao Natural Gas Co., Ltd., indicating a significant portion of shares are pledged, which may impact the company's financial stability and shareholder confidence [2][4]. Group 1: Share Pledge Details - Xin'ao Technology Development Co., Ltd. holds 308,808,988 shares of the company, representing 9.98% of the total share capital. The current pledge involves 24,000,000 shares, which is 7.77% of its holdings and 0.78% of the total share capital [2]. - As of the announcement date, Xin'ao Technology has cumulatively pledged 179,100,000 shares, accounting for 58.00% of its total holdings and 5.79% of the total share capital [2]. - The controlling shareholder, ENN Group International Investment Limited, along with its concerted parties, holds a total of 2,243,449,808 shares, which is 72.47% of the total share capital. They have cumulatively pledged 455,400,000 shares, representing 20.30% of their total holdings and 14.71% of the total share capital [2]. Group 2: Pledge Usage and Duration - The pledged shares are not being used as collateral for major asset restructuring performance compensation or other guarantees [4]. - The final pledge duration will be determined by the completion date of the pledge release registration procedures by Xin'ao Technology [3].

Core Viewpoint - Xin'ao Co., Ltd. has clarified that its strategic planning regarding controllable nuclear fusion is under the Xin'ao Group, and the company itself has not yet engaged in related business activities [2]. Group 1: Business Focus - The main business of Xin'ao Co., Ltd. is centered around natural gas sales, infrastructure operation, general energy and smart home solutions, as well as engineering construction and installation [2]. - The company remains committed to its established strategy, focusing on deepening its core energy business [2]. - Xin'ao Co., Ltd. aims to create long-term stable value for its investors [2].

Group 1 - The core point of the article is that Xin'ao Co., Ltd. announced a pledge of 24 million shares by its shareholder, Xin'ao Technology Development Co., Ltd., which accounts for 7.77% of its total holdings, for production and operation purposes [2]

证券代码：600803 证券简称：新奥股份 公告编号：临 2026-002 新奥天然气股份有限公司 关于公司股东部分股份质押的公告 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： 新奥天然气股份有限公司（以下简称"公司"）股东新奥科技发展有限公 司（以下简称"新奥科技"）持有 308,808,988 股公司股份，占公司总股本的 9.98%。 新奥科技本次股份质押股数为 24,000,000 股，占其持有公司股份总数的 7.77%， 占公司总股本的 0.78%。截至本公告披露日，新奥科技累计质押 179,100,000 股 公司股份，占其持有公司股份总数的 58.00%，占公司总股本的 5.79%。 公司控股股东 ENN GROUP INTERNATIONAL INVESTMENT LIMITED （中文名称为"新奥集团国际投资有限公司"，以下简称"新奥国际"）及其一致 行动人新奥控股投资股份有限公司、新奥科技、廊坊合源投资中心（有限合伙）、 河北威远集团有限公司和王玉锁先生（以下统称"新奥国际及其一致行动人"） ...

Core Viewpoint - Xin'ao Co., Ltd. has clarified that its strategic planning regarding controllable nuclear fusion is under the Xin'ao Group, and the company itself has not yet engaged in related business activities [1] Business Focus - The company's main business focuses on natural gas sales, infrastructure operations, energy services, smart home solutions, and engineering construction and installation [1] - Xin'ao Co., Ltd. is committed to deepening its core energy business in line with its established strategy [1] - The company aims to create long-term stable value for its investors [1]

Group 1 - The overall performance of the US dollar is weak, with the dollar index falling to around 99, leading to decreased investor confidence in dollar assets due to regional tensions [1] - Key variables affecting oil prices in 2026 include OPEC+ production cuts, macroeconomic policy shifts such as potential Federal Reserve interest rate cuts, and escalating regional political risks that could trigger short-term oil price spikes [1] - The projected core price range for Brent crude oil in 2026 is $55-75 per barrel, while WTI is expected to be $50-70 per barrel, with volatility expected to narrow compared to 2025 [1] Group 2 - As of December 31, 2025, the top ten weighted stocks in the National Petroleum and Natural Gas Index (399439) include major companies such as China National Petroleum, Sinopec, and CNOOC, collectively accounting for 67.11% of the index [2] - The Penghua Oil ETF (159697) closely tracks the National Petroleum and Natural Gas Index, reflecting the price changes of listed companies in the oil and gas sector on the Shanghai and Shenzhen stock exchanges [1][2]