Ge Long Hui A P P·2025-08-27 06:53Core Viewpoint - The report from Tianfeng Securities indicates that Shaanxi Natural Gas achieved a net profit attributable to shareholders of 509 million yuan in the first half of 2025, a year-on-year decrease of 12.62% [1] Financial Performance - The operating cash flow generated from business activities was 527 million yuan, reflecting a year-on-year increase of 17.91% [1] - Revenue from long-distance pipeline business reached 3.231 billion yuan, with a slight year-on-year increase of 0.04% and a gross margin of 22.89%, up by 0.77 percentage points [1] - Revenue from urban gas business was 1.619 billion yuan, showing a year-on-year decline of 4.35%, with a gross margin of 6.72%, down by 3.21 percentage points [1] Business Outlook - The overall natural gas transmission volume has shown growth since 2025, and the company plans to continue developing large industrial users [1] - Short-term adjustments in pipeline transportation prices may impact profits, but long-term benefits are expected to stimulate user demand and increase gas sales volume [1] - The introduction of proactive shareholders is expected to optimize the company's equity structure and enhance core competitiveness, facilitating business expansion and industrial synergy [1]