证券研究报告·公司点评报告·燃气Ⅱ 佛燃能源（002911） 2025 年度业绩快报点评：业务多元发展业绩 超预期，保证股东回报 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 25,538 | 31,589 | 33,754 | 36,905 | 38,808 | | 同比（%） | 34.96 | 23.70 | 6.85 | 9.34 | 5.16 | | 归母净利润（百万元） | 844.45 | 853.12 | 1,000.68 | 1,070.50 | 1,117.39 | | 同比（%） | 28.87 | 1.03 | 17.30 | 6.98 | 4.38 | | EPS-最新摊薄（元/股） | 0.65 | 0.66 | 0.77 | 0.82 | 0.86 | | P/E（现价&最新摊薄） | 20.85 | 20.64 | 17.59 | 16.45 | 15.76 | [Table_T ...

证券研究报告·公司点评报告·燃气Ⅱ 佛燃能源（002911） 2025 年度业绩快报点评：业务多元发展业绩 超预期，保证股东回报 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 25,538 | 31,589 | 33,754 | 36,905 | 38,808 | | 同比（%） | 34.96 | 23.70 | 6.85 | 9.34 | 5.16 | | 归母净利润（百万元） | 844.45 | 853.12 | 1,000.68 | 1,070.50 | 1,117.39 | | 同比（%） | 28.87 | 1.03 | 17.30 | 6.98 | 4.38 | | EPS-最新摊薄（元/股） | 0.65 | 0.66 | 0.77 | 0.82 | 0.86 | | P/E（现价&最新摊薄） | 20.85 | 20.64 | 17.59 | 16.45 | 15.76 | [Table_T ...

佛燃能源（002911）(002911.SZ)披露2025年度业绩快报，公司营业总收入为337.54亿元，同比增长 6.85%;;归属于上市公司股东的净利润10.01亿元，同比增加17.26%。 报告期内，公司天然气供应量为49.31亿立方米。城市燃气收入124.93亿元，同比减少14.83%，能源化 工收入157.17亿元，同比增长20.97%。公司以"能源+科技+供应链"为战略发展方向，在深耕城市天然气 业务的同时，积极推进石油化工产品、氢能、热能、光伏和储能等能源业务。 ...

格隆汇1月19日丨佛燃能源(002911.SZ)公布2025年度业绩快报，报告期内，公司天然气供应量为49.31亿 立方米，公司营业总收入为337.54亿元，同比增长6.85%，主要是公司大力拓展能源化工等业务所致。 其中：城市燃气收入124.93亿元，同比减少14.83%，能源化工收入157.17亿元，同比增长20.97%；归属 于上市公司股东的净利润10.01亿元，同比增加17.26%；经营活动产生的现金流量净额19.55亿元，同比 增加11.44%；公司总资产为201.93亿元，较期初增长4.05%。 公司以"能源+科技+供应链"为战略发展方向，在深耕城市天然气业务的同时，积极推进石油化工产 品、氢能、热能、光伏和储能等能源业务，以科技求发展，持续开展科技研发与装备制造业务、供应链 业务以及其它延伸业务，为广大用户提供更多元的用能选择。 ...

Financial Performance - The total operating revenue for the first half of 2025 reached RMB 15.34 billion, representing an increase of 8.59% compared to RMB 14.12 billion in the same period last year [2] - Operating profit was RMB 541.61 million, showing a slight increase of 0.14% from RMB 540.84 million year-on-year [2] - The total profit amounted to RMB 541.04 million, up by 0.39% from RMB 538.91 million in the previous year [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 307.98 million, reflecting a growth of 12.18% from RMB 274.54 million [2] - Basic earnings per share decreased by 9.09% to RMB 0.20 from RMB 0.22 [2] - The weighted average return on net assets decreased by 1.25 percentage points [2] Financial Position - Total assets at the end of the reporting period were RMB 19.92 billion, an increase of 3.13% from RMB 19.31 billion at the beginning of the period [2] - The equity attributable to shareholders was RMB 1.30 billion, with a slight decrease of 0.04% from RMB 1.30 billion at the beginning of the period [2] - The net cash flow from operating activities was RMB 685 million, a significant increase of 601.92% year-on-year [3] Strategic Direction - The company is focusing on a strategic development direction of "Energy + Technology + Supply Chain," while deepening its urban natural gas business [3] - The company is actively promoting energy businesses such as petrochemical products, hydrogen energy, thermal energy, photovoltaics, and energy storage, aiming to provide more diverse energy options for users [3]