昆 侖 能 源 有 限 公 司 KUNLUN ENERGY COMPANY LIMITED (incorporated in Bermuda with limited liability) （股份代號：00135.HK） 董事名單及其角色和職能 | 成員 | 審核委員會 | 薪酬委員會 | 提名委員會 | 可持續發展 委員會 | | --- | --- | --- | --- | --- | | 劉國海先生 | | | C | | | 賀永利先生 | | | | C | | 呂菁女士 | | | M | | | 戚振忠先生 | | | | M | | 辛定華先生 | C | M | M | | | 曾鈺成先生 | M | C | M | M | | 郭志成先生 | M | M | M | M | 附註： 昆侖能源有限公司董事會（「董事會」）現共有七名董事。每名董事的姓名、角色和職能詳情如下： 執行董事 非執行董事 獨立非執行董事 董事會轄下設立四個委員會，委員會成員如下： 1) 劉國海先生 （主席） 2) 賀永利先生 （行政總裁） 3) 呂菁女士 4) 戚振忠先生 5) 辛定華先生 6) 曾鈺成先生 7) 郭 ...

及 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) （股份代號：00135.HK） 執行董事、行政總裁及授權代表的變更 可持續發展委員會組成的變更 昆侖能源有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」）會（「董事會」）宣佈，錢 治家先生（「錢先生」）因工作安排變動，已辭任執行董事、行政總裁及香港聯合交易所有限公司證券 上市規則（「上市規則」）第3.05條項下的本公司授權代表職務，自2026年1月30日起生效。 錢先生已確認與董事會並無意見分歧，亦無其他與其辭職有關的事宜須知會香港聯合交易所有限公 司或本公司股東。 錢先生在任職期間恪盡職守、勤勉盡責，在推動本集團標準化運營及可持續發展方面發揮積極作 用。董事會謹此對錢先生在任期內的重大貢獻致以誠 ...

Core Viewpoint - Kunlun Energy (00135) has announced a share buyback plan, which is expected to enhance earnings per share and capital return, reflecting long-term growth confidence [1] Group 1: Share Buyback Announcement - The company plans to repurchase up to 86.59 million shares, equivalent to approximately 1% of the total issued share capital as of the announcement date [1] - The repurchase will occur in the open market using existing cash until the end of the shareholders' annual meeting in 2027 [1] - The actual repurchase price per share will not exceed 5% above the average closing price of the shares for the five trading days preceding each buyback [1] Group 2: Market Reaction and Analyst Insights - The stock price of Kunlun Energy increased by 3.03%, reaching HKD 7.83, with a trading volume of HKD 212 million [1] - Shenwan Hongyuan believes that the buyback plan will improve the company's earnings per share and capital return rate, indicating confidence in long-term development [1] - The Fuzhou receiving station is expected to commence operations next year, which will support the company's long-term growth [1] Group 3: Industry Positioning - The company is well-positioned in the industrial gas sector and is likely to benefit from the demand for industrial fuel substitution under the "dual carbon" policy, supporting sustained growth in its main business [1]

Core Viewpoint - Kunlun Energy (00135) has announced a share buyback plan, which is expected to enhance earnings per share and capital return, reflecting long-term growth confidence [1] Group 1: Share Buyback Announcement - The company plans to repurchase up to 86.59 million shares, representing approximately 1% of the total issued share capital as of the announcement date [1] - The buyback will occur in the open market using existing cash until the end of the shareholders' annual meeting in 2027 [1] - The actual repurchase price per share will not exceed 5% above the average closing price of the shares for the five trading days preceding each buyback [1] Group 2: Market Reaction and Analyst Insights - The stock price of Kunlun Energy increased by 3.03%, reaching HKD 7.83, with a trading volume of HKD 212 million [1] - Shenwan Hongyuan believes that the buyback plan will improve the company's earnings per share and capital return rate, indicating confidence in long-term development [1] - The Fuzhou receiving station is expected to commence operations next year, which will support the company's long-term growth [1] Group 3: Industry Position and Future Growth - The company is well-positioned in the industrial gas sector and is likely to benefit from the demand for industrial fuel substitution under the "dual carbon" policy, supporting sustained growth in its core business [1]

Investment Rating - The report maintains a "Buy" rating for Kunlun Energy [2][7] Core Views - The company plans to repurchase up to 86.59 million shares, representing about 1% of its total issued share capital, demonstrating confidence in its development [7] - The company has sufficient cash resources, with cash on hand amounting to 29.479 billion RMB as of 1H25, which is adequate to cover the repurchase costs [7] - The Fujian Fuzhou LNG receiving station, with a capacity of 3 million tons per year, is expected to commence operations in 2027, providing stable revenue through a bridge fee model [7] - The company is well-positioned to benefit from the dual carbon and dual control policies, with a significant portion of its gas sales coming from price-sensitive industrial customers [7] - The report forecasts net profits for 2025-2027 to be 5.980 billion, 6.254 billion, and 6.573 billion RMB respectively, with EPS projected at 0.69, 0.72, and 0.76 RMB per share [7] Financial Data and Profit Forecast - Revenue projections for 2023 to 2027 are as follows: 177.354 billion, 187.046 billion, 193.901 billion, 204.563 billion, and 213.881 billion RMB, with corresponding growth rates of 3.15%, 5.46%, 3.66%, 5.50%, and 4.55% [6][8] - Net profit estimates for the same period are: 5.682 billion, 5.960 billion, 5.980 billion, 6.254 billion, and 6.573 billion RMB, with growth rates of 8.68%, 4.89%, 0.33%, 4.59%, and 5.10% [6][8] - The company’s price-to-earnings ratio (P/E) is projected to decrease from 10.4 in 2023 to 9.0 in 2027, indicating potential for upward price elasticity [6][8]

Group 1 - Kunlun Energy (00135.HK) experienced a nearly 3% increase in stock price, reaching 7.65 HKD per share [1] - The trading volume for Kunlun Energy was reported at 25.8052 million HKD [1]

董事会认为，鉴于集团的业务及财务表现，其股份的交易价格未能充分反映其内在价值。购回股份可望 提升每股盈利及资本回报率，因此符合公司及股东的整体利益，同时亦反映董事会对集团未来发展的信 心。 昆仑能源(00135)涨近3%，截至发稿，涨2.96%，报7.65港元，成交额2580.52万港元。 消息面上，1月16日，昆仑能源发布公告，董事会已议决，其将根据现有购回授权的条款且受限公司将 于2026年举行的股东周年大会上更新购回授权，可能于本公告日期起至公司将于2027年举行的股东周年 大会结束为止期间，不时在公开市场购回最多8659万股股份(相当于截至本公告日期公司已发行股本约 1%)。公司将以现有现金资源拨付股份购回。预期任何购回的股份将于适当时候注销。根据上市规则， 每股股份的实际购回价不得高于紧接每次购回前五个交易日股份平均收市价的5%以上。 ...

董事会认为，鉴于集团的业务及财务表现，其股份的交易价格未能充分反映其内在价值。购回股份可望 提升每股盈利及资本回报率，因此符合公司及股东的整体利益，同时亦反映董事会对集团未来发展的信 心。 消息面上，1月16日，昆仑能源发布公告，董事会已议决，其将根据现有购回授权的条款且受限公司将 于2026年举行的股东周年大会上更新购回授权，可能于本公告日期起至公司将于2027年举行的股东周年 大会结束为止期间，不时在公开市场购回最多8659万股股份(相当于截至本公告日期公司已发行股本约 1%)。公司将以现有现金资源拨付股份购回。预期任何购回的股份将于适当时候注销。根据上市规则， 每股股份的实际购回价不得高于紧接每次购回前五个交易日股份平均收市价的5%以上。 智通财经APP获悉，昆仑能源(00135)涨近3%，截至发稿，涨2.96%，报7.65港元，成交额2580.52万港 元。 ...

Core Viewpoint - Kunlun Energy (00135.HK) announced a share buyback plan, indicating that the board believes the current trading price does not reflect the intrinsic value of the shares [1] Group 1: Share Buyback Details - The company plans to repurchase up to 86,590,000 shares, which is approximately 1% of the total issued share capital as of the announcement date [1] - The buyback will be funded using existing cash resources and is expected to enhance earnings per share and return on capital [1] - The repurchased shares are anticipated to be canceled at an appropriate time [1] Group 2: Board's Rationale - The board believes that the share buyback aligns with the overall interests of the company and its shareholders, reflecting confidence in the group's future development [1] - The actual repurchase price per share will not exceed 5% above the average closing price of the shares over the five trading days preceding each buyback [1]

Group 1 - The company, Kunlun Energy (00135), has announced a share buyback plan to repurchase up to 86.59 million shares, which represents approximately 1% of the total issued share capital as of the announcement date [1] - The buyback will be funded using existing cash resources and is expected to enhance earnings per share and capital return, reflecting the board's confidence in the company's future development [1] - The actual buyback price per share will not exceed 5% above the average closing price of the shares over the preceding five trading days [1] Group 2 - The board plans to update the buyback authorization at the shareholders' annual meeting in 2026, with the buyback period extending until the end of the annual meeting in 2027 [1] - The company believes that the current trading price of its shares does not adequately reflect its intrinsic value, prompting the decision for the buyback [1]