Foran Energy(SZ:002911)2025-09-03 10:28Financial Performance - In the first half of 2025, the total assets of the company reached 19.906 billion CNY, an increase of 3.08% compared to the beginning of the period [2] - Total operating revenue was 15.338 billion CNY, a year-on-year increase of 8.59% [2] - Net profit attributable to shareholders was 310 million CNY, up 7.27% year-on-year [2] - Net cash flow from operating activities was 686 million CNY, a significant increase of 602.45% [2] Gas Supply and Market Position - In the first half of 2025, the company supplied 2.131 billion cubic meters of natural gas, with industrial and commercial users accounting for approximately 81.29% [3] - The gross profit from urban gas business was 666 million CNY, an increase of 2.1% year-on-year, with a gross profit margin of 10.12% [3] - The company has established a robust customer structure primarily focused on industrial and commercial sectors, benefiting from the industrial scale of Foshan [2] Supply Chain and Revenue Growth - The supply chain business achieved operating revenue of 8.282 billion CNY in the first half of 2025, a year-on-year growth of 22.66%, accounting for 54% of total revenue [9] - The company has diversified its supply chain operations to include various products such as refined oil, fuel oil, and biodiesel [9] SOFC Development - The company has formed a specialized R&D team for SOFC (Solid Oxide Fuel Cell) technology, currently developing a 50kW SOFC system prototype [10] - The company aims to apply SOFC technology in various scenarios, including data centers and waste treatment facilities [12] Dividend Policy - Since its listing in November 2017, the company has maintained a stable dividend level, with cumulative cash dividends amounting to 3.088 billion CNY, averaging over 65% of net profit attributable to shareholders [7] - In 2024, the total cash dividend was 623 million CNY, accounting for 73% of net profit [8] Future Investments and Strategic Initiatives - The company plans to adopt a more cautious investment strategy in the coming years, focusing on sustainable returns for shareholders [7] - The company is investing in green methanol production, with a total planned investment of 10 billion CNY to establish production bases with a combined capacity of 1 million tons per year [13][14]