Core Viewpoint - Tianlun Gas (01600) reported a 12.8% year-on-year increase in gas sales revenue for the first half of the year, reaching 3.64 billion yuan, indicating strong growth potential in the gas sales business [1] Group 1: Financial Performance - Gas sales revenue increased by 12.8% year-on-year to 3.64 billion yuan, with retail gas sales contributing 2.56 billion yuan and wholesale gas sales 1.08 billion yuan [1] - The average retail gas selling price was 2.91 yuan per cubic meter, with a comprehensive gas price difference of 0.41 yuan per cubic meter, which is an increase of 0.01 yuan per cubic meter compared to the same period last year [1] - The company expects the gross margin for retail gas sales to reach between 0.47 and 0.50 yuan per cubic meter for the full year of 2025, indicating a positive long-term growth outlook [1] Group 2: Management Strategy - The management emphasized the importance of optimizing gas sources in the second half of the year and outlined future management directions [1] - The core of the subsequent gas source management work will be to continuously optimize the gas source structure and achieve diversified gas supply [1] - The company plans to strengthen cooperation with the national pipeline network and the "three major oil companies" to reduce resource transmission layers, enhance interconnectivity with regional member companies and surrounding pipelines, and utilize gas storage facilities to improve gas supply security during winter peak periods [1]

8月29日，天伦燃气(01600)召开2025年中期业绩发布会。今年上半年，销气业务收入同比提升12.8%至 36.4亿元，其中零售销气收入25.6亿元，批发销气收入10.8亿元，零售业务平均售气价格2.91元/方，零 售业务综合销气价差0.41元/方，较同期增长1分/方，预计2025全年零售业务销气毛差将达到0.47-0.50元/ 方，销气业务具备较好的长期增长动力。 业绩发布会中，公司管理层在回复投资者的相关问题时，强调了下半年气源优化的重要性并列举了后续 管理工作方向。公司管理层表示，持续优化气源结构，实现气源多元化供给是开展后续气源管理工作的 核心，公司将持续加强与国家管网、"三桶油"的合作，进一步减少资源代输层级；加大区域内成员公司 及与周边管道互联互通的力度，实现多通道资源串换和补充；并利用储气调峰设施，拓展管道气及 LNG贸易渠道，提升冬季调峰时段的气源保障能力。 ...