Group 1 - BlackRock, Inc. increased its stake in Kunlun Energy (00135.HK) by purchasing 4.83237 million shares at an average price of HKD 8.2917 per share, totaling approximately HKD 40.0686 million [1] - Following this transaction, BlackRock's total holdings in Kunlun Energy rose to 434,681,051 shares, increasing its ownership percentage from 4.96% to 5.02% [1][3]

智通财经APP获悉，据香港联交所最新数据显示，3月11日，贝莱德增持昆仑能源(00135)483.237万股， 每股作价8.2917港元，总金额约为4006.86万港元。增持后最新持股数目约为4.35亿股，持股比例为 5.02%。 ...

Core Viewpoint - BlackRock increased its stake in Kunlun Energy (00135) by acquiring 4.83237 million shares at a price of HKD 8.2917 per share, totaling approximately HKD 40.0686 million, raising its ownership to about 435 million shares, which represents 5.02% of the company [1] Group 1 - BlackRock's acquisition of shares indicates a positive outlook on Kunlun Energy's future performance [1] - The total investment made by BlackRock amounts to approximately HKD 40.0686 million [1] - Following the purchase, BlackRock's total shareholding in Kunlun Energy is approximately 435 million shares [1]

格隆汇3月10日丨昆仑能源(00135.HK)公布，公司将于2026年3月24日(星期二)举行董事会会议，藉以(其 中包括)审议公司及其附属公司截至2025年12月31日止年度的全年业绩，及考虑宣派股息(如有)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 昆 侖 能 源 有 限 公 司 KUNLUN ENERGY COMPANY LIMITED (incorporated in Bermuda with limited liability) 承董事會命 昆侖能源有限公司 公司秘書 謝茂 香港，二零二六年三月十日 於本公告日期，董事會成員包括劉國海先生為主席兼執行董事、賀永利先生為行政總裁兼執行董 事、呂菁女士及戚振忠先生為非執行董事，及辛定華先生、曾鈺成先生及郭志成先生為獨立非執行 董事。 （股份代號：00135.HK） 董事會會議通告 茲通告昆侖能源有限公司（「本公司」）將於二零二六年三月二十四日（星期二）舉行董事會（「董事會」） 會議，藉以（其中包括）審議本公司及其附屬公司截至二零二五年十二月三十一日止年度的全年業 績，及考慮宣派股息（如有）。 ...

Group 1 - Kunlun Energy Co., Ltd. has invested 34.017 million RMB to establish Liaocheng Kunlun New Energy Technology Co., Ltd., holding a 51% stake [1] - Liaocheng Kunlun New Energy Technology Co., Ltd. was founded on August 9, 2024, with a registered capital of 66.7 million RMB [1] - The company is located in Liaocheng and operates in the technology promotion and application service industry, focusing on new energy technology research and development, sales of new energy equipment, and various technical services [1] Group 2 - The company is authorized to engage in power generation, transmission, and distribution businesses, subject to approval from relevant authorities [1] - Key areas of operation include biomass fuel processing, new material technology promotion, and solar power technology services [1] - The company will also engage in research and development of offshore wind power systems and mechanical equipment [1]

Group 1 - The core viewpoint of the report is that the situation in the Middle East is causing fluctuations in global oil and natural gas prices, with potential supply impacts exceeding 20% on the global LNG market if disruptions persist [1] - The short-term impact on Chinese gas utilities is limited, as spot LNG accounts for approximately 10% of their total natural gas resources, resulting in minimal immediate effects on procurement costs [1] - However, sustained high oil and gas prices may lead to increased procurement costs for pipeline gas and LNG, potentially affecting industrial gas demand, prompting a cautious outlook for the sector [1] Group 2 - The company prefers Kunlun Energy (00135) due to its limited exposure to spot LNG risks, expecting it to perform better than peers in a high energy price environment, with a target price of HKD 9 and a "Buy" rating [1] - New Hope Energy (02688) is also viewed positively for its stock price upside potential, as its parent company has seen a recent stock price increase, with a current A-share and H-share price difference of 40%, and its LNG contracts can hedge against rising spot LNG prices [1] - The target price for New Hope Energy is set at HKD 72.5 with a "Buy" rating, while the target price for its parent company is RMB 18.5 with a "Neutral" rating [1]

Core Viewpoint - The geopolitical situation in the Middle East is causing fluctuations in global oil and natural gas prices, with potential supply impacts exceeding 20% on the global LNG market if disruptions persist [1] Industry Summary - The short-term impact on Chinese gas utilities is limited, as spot LNG constitutes about 10% of their total gas resources, resulting in minimal immediate effects on procurement costs [1] - However, sustained high oil and gas prices may lead to increased procurement costs for pipeline gas and LNG, potentially affecting industrial gas demand [1] - The firm maintains a cautious outlook for the sector [1] Company Summary - The firm prefers Kunlun Energy (00135) due to its limited exposure to spot LNG risks, expecting it to perform better than peers in a high energy price environment, with a target price of HKD 9 and a "Buy" rating [1] - The firm is also optimistic about the upside potential for ENN Energy (02688), as its parent company ENN Group (600803.SH) has seen a recent stock price increase, with a current A-share and H-share price difference of 40%. The company's LNG contracts can hedge against rising spot LNG prices [1] - The target price for ENN Energy is set at HKD 72.5 with a "Buy" rating, while the target price for ENN Group is RMB 18.5 with a "Neutral" rating [1]

Group 1 - The core viewpoint of the article is that the situation in the Middle East is causing fluctuations in global oil and natural gas prices, with potential supply impacts exceeding 20% on the global LNG market if disruptions persist [1] - Morgan Stanley believes that the short-term impact on Chinese gas utilities is limited, as spot LNG accounts for about 10% of their total gas resources, resulting in minimal immediate effects on procurement costs [1] - However, sustained high oil and gas prices may lead to increased procurement costs for pipeline gas and LNG, potentially affecting industrial gas demand, prompting a cautious outlook for the sector [1] Group 2 - The company prefers Kunlun Energy (00135) due to its limited exposure to spot LNG risks, which is expected to perform better than peers in a high energy price environment, with a target price of HKD 9 and a "Buy" rating [1] - New Hope Energy (02688) is also viewed positively for its stock price upside potential, as its parent company has seen a recent stock price increase, with a current A-share and H-share price difference of 40% [1] - The company's LNG contracts can hedge against the risk of rising spot LNG prices, with a target price of HKD 72.5 for New Hope Energy and a "Buy" rating, while the target price for its parent company is RMB 18.5 with a "Neutral" rating [1]

Group 1 - The core viewpoint of the report indicates that the situation in the Middle East is causing fluctuations in global oil and natural gas prices, with potential supply impacts exceeding 20% on the global LNG market if disruptions persist [1] - The short-term impact on Chinese gas utilities is considered limited, as spot LNG accounts for approximately 10% of their total natural gas resources, resulting in minimal immediate effects on procurement costs [1] - However, sustained high oil and gas prices may lead to increased procurement costs for pipeline gas and LNG, potentially affecting industrial gas demand, prompting a cautious outlook for the sector [1] Group 2 - The report expresses a relative preference for Kunlun Energy due to its limited exposure to spot LNG risks, suggesting it may perform better than peers in a high energy price environment [1] - A target price of HKD 9 and an "Overweight" rating are currently assigned to Kunlun Energy [1]