Core Viewpoint - The company is actively tracking developments in hydrogen energy and natural gas blending, aiming to become a comprehensive energy service provider in the future [1] Group 1 - The company is engaged in the hydrogen energy sector and is exploring opportunities in natural gas blending [1] - As an energy supply enterprise, the company is committed to evolving into a comprehensive energy service provider [1]

Group 1 - The 29th World Gas Conference (WGC2025) is being held in Beijing from May 19 to 23, marking the first time the event has taken place in China since its inception in 1931 [6] - Global natural gas consumption is expected to reach a historical high in 2024, with LNG demand projected to nearly double by 2040, reaching approximately 700 million tons annually [2] - Cheniere Energy plans to double its liquefaction capacity to over 90 million tons per year to meet the growing LNG demand [2] Group 2 - Asian LNG imports are expected to grow by 7% in 2024, setting a new record, while Europe continues to rely on LNG for its energy needs [2] - The global LNG market is evolving from a point-to-point supply model to a more diversified trading market, enhancing flexibility in gas distribution [3] - Companies are increasingly turning to long-term contracts to ensure reliable LNG supply due to energy security concerns [2] Group 3 - The global decarbonization process is accelerating, with natural gas being recognized as a key transitional energy source, particularly in power generation and coal replacement [4] - Companies are investing in green gas and hydrogen projects to diversify supply sources and enhance supply chain reliability [4] - Zhejiang Energy Natural Gas Group has successfully conducted a demonstration project for hydrogen blending in natural gas, marking a significant technological advancement in the industry [5] Group 4 - The natural gas industry is shifting from a focus on resource scale competition to low-carbon service capability competition, with market concentration likely favoring companies that combine flexible supply with decarbonization technologies [5] - Collaborative projects between companies, such as the integration of steel and gas industries, are being developed to enhance energy efficiency and reduce emissions [5]