Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company reported a revenue of 15.608 billion yuan for the first three quarters of 2025, a decrease of 8.5% year-on-year, and a net profit attributable to shareholders of 1.241 billion yuan, down 19.1% year-on-year. In the third quarter alone, revenue was 5.180 billion yuan, a decrease of 10.4%, with a net profit of 380 million yuan, down 11% year-on-year. The LPG business profits were impacted by typhoons and maintenance, but significant improvement is expected in the fourth quarter due to the arrival of the natural gas peak season and the completion of tank maintenance [2][7][14]. - The company plans to invest in a coal-to-gas project in Xinjiang, which will enhance its upstream gas source layout. The project has a total investment of 23.033 billion yuan, with the company expected to contribute up to 3.455 billion yuan, aiming to secure 50% equity in the project, which will produce 2 billion cubic meters of natural gas annually [2][14]. Summary by Sections Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 15.608 billion yuan, a decrease of 8.5% year-on-year, and a net profit of 1.241 billion yuan, down 19.1%. The third quarter alone saw a revenue of 5.180 billion yuan, a decrease of 10.4%, and a net profit of 380 million yuan, down 11% year-on-year [2][7][14]. Business Outlook - The fourth quarter is expected to show significant improvement due to the recovery of domestic natural gas prices and the completion of tank maintenance. The LPG business is anticipated to see a steady increase in sales, and the impact of extreme weather has ended [14]. Dividend Policy - The company has a cash dividend plan for 2024-2026, with fixed cash dividends of 750 million, 850 million, and 1 billion yuan respectively, along with a dual-layer dividend model of "fixed cash dividend + special cash dividend" [14]. Investment Projects - The company is investing in a coal-to-gas project in Xinjiang, which is expected to produce 4 billion cubic meters of natural gas annually. The project has a total investment of 23.033 billion yuan, with the company contributing up to 3.455 billion yuan [14]. Earnings Forecast - The expected EPS for 2025-2027 is 2.24 yuan, 2.60 yuan, and 3.04 yuan respectively, with corresponding PE ratios of 14.61X, 12.60X, and 10.76X [14].

Market Overview - The gas sector experienced a decline of 0.35% on November 7, with ST Jinhong leading the losses [1] - The Shanghai Composite Index closed at 3997.56, down 0.25%, while the Shenzhen Component Index closed at 13404.06, down 0.36% [1] Individual Stock Performance - Notable gainers in the gas sector included: - Chongqing Gas (600917) with a closing price of 6.25, up 4.17% and a trading volume of 385,400 shares [1] - Delong Huineng (000593) closed at 10.12, up 3.27% with a trading volume of 460,300 shares [1] - Xinjiang Torch (603080) closed at 24.55, up 1.32% with a trading volume of 73,400 shares [1] - Major decliners included: - ST Jinwan (000669) closed at 3.27, down 4.39% with a trading volume of 178,000 shares [2] - Fuan Energy (002911) closed at 13.00, down 4.13% with a trading volume of 269,700 shares [2] - Shandong Public Utilities (600635) closed at 6.60, down 2.22% with a trading volume of 1,488,300 shares [2] Capital Flow Analysis - The gas sector saw a net outflow of 232 million yuan from main funds, while retail investors contributed a net inflow of 219 million yuan [2] - The main funds' net inflow for specific stocks included: - Delong Huineng with a net inflow of 41.17 million yuan [3] - Chongqing Gas with a net inflow of 22.81 million yuan [3] - Conversely, significant outflows were observed in: - Chongqing Gas with a net outflow of 31.43 million yuan from retail investors [3] - Delong Huineng with a net outflow of 45.60 million yuan from retail investors [3]

Group 1 - The company has initiated a share repurchase plan to enhance its market value and respond to market fluctuations, reflecting confidence in its long-term sustainable development [1][2] - The repurchase plan was approved by the board and aims to address the discrepancy between the company's stock price and its intrinsic value, which the board believes is not adequately reflected in the current market [2][3] - The company has successfully repurchased a total of 627.89 million shares, representing 0.90% of its total share capital, with a total expenditure of approximately RMB 186.64 million [3][4] Group 2 - The repurchase activity is in compliance with relevant regulations and the company's disclosed repurchase plan, ensuring transparency and adherence to legal requirements [4][5] - The company will continue to monitor market conditions and make repurchase decisions accordingly, committing to timely information disclosure regarding the progress of the share repurchase [5][6]

Core Viewpoint - Jiufeng Energy announced a share buyback plan, indicating a strategic move to enhance shareholder value and confidence in the company's future performance [2] Group 1 - As of October 31, 2025, the company has repurchased a total of 6.2789 million shares [2] - The repurchased shares account for 0.90% of the company's total share capital [2]

Group 1 - The core point of the article is that Jiufeng Energy has announced a share buyback plan, repurchasing 6.2789 million shares, which accounts for 0.9% of the total share capital, with a total expenditure of approximately 187 million RMB [1] - The highest transaction price for the repurchased shares was 35.59 RMB per share, while the lowest was 25.52 RMB per share [1] - As of the report, Jiufeng Energy's market capitalization stands at 23.4 billion RMB [1] Group 2 - For the fiscal year 2024, Jiufeng Energy's revenue composition is as follows: clean energy accounts for 89.16%, energy services for 9.77%, specialty gases for 1.07%, and other businesses for 0.01% [1]

成为最具价值创造力的清洁能源服务商 1、现阶段，公司"一主两翼"业务发展格局已初步形成并取得良好成效，清洁能 源一体化"哑铃型"发展模式持续优化，能源服务增长动能不断释放，特种气体业务布 局加快推进，公司整体价值加快提升。 2、公司于 2024 年 6 月制定《未来三年（2024-2026 年）现金分红规划》，提出当 公司董事会认为二级市场股价与公司真实价值出现偏离时，将视情况在履行相关决策程 证券代码：605090 证券简称：九丰能源 公告编号：2025-103 江西九丰能源股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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。 | 回购方案首次披露日 | 2025/4/18 | | --- | --- | | 回购方案实施期限 | 2025/5/9 ~ 2026/5/8 | | 预计回购金额 | 20,000.00万元~30,000.00万元 | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值 ...

智通财经APP讯，九丰能源(605090.SH)发布公告，截至2025年10月31日，公司以集中竞价交易方式累 计回购股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股， 已支付的资金总额为人民币1.87亿元(不含交易费用)。 ...

九丰能源（605090）(605090.SH)发布公告，截至2025年10月31日，公司以集中竞价交易方式累计回购 股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股，已支付 的资金总额为人民币1.87亿元(不含交易费用)。 ...

格隆汇11月5日丨九丰能源(605090.SH)公布，截至2025年10月31日，公司以集中竞价交易方式累计回购 股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股，已支付 的资金总额为人民币18,663.85万元（不含交易费用）。 ...

格隆汇11月5日丨九丰能源(605090.SH)公布，截至2025年10月31日，公司以集中竞价交易方式累计回购 股份627.89万股，占公司总股本的0.90%，最高成交价为35.59元/股，最低成交价为25.52元/股，已支付 的资金总额为人民币18,663.85万元（不含交易费用）。 ...