Foran Energy(SZ:002911)2025-11-05 07:10Business Overview - The company focuses on urban gas business, enhancing infrastructure to ensure gas supply capacity while exploring oil and chemical products, hydrogen energy, thermal energy, photovoltaics, energy storage, and green methanol services [2] - It aims to innovate business models and strengthen supply chain services, leveraging resources in petrochemical storage, transportation, and logistics [2] Financial Performance - Revenue increased from CNY 4.292 billion in 2017 to CNY 31.589 billion in 2024, with a compound annual growth rate (CAGR) of 33.00% [2] - Net profit rose from CNY 347 million in 2017 to CNY 853 million in 2024, with a CAGR of 13.69% [2] - In the first three quarters of 2025, total assets reached CNY 21.052 billion, a growth of 9.01% from the beginning of the period [3] Gas Supply and Operations - The company holds 13 regional pipeline gas operation licenses, with exclusive rights in several districts of Foshan and other areas [4] - It supplies natural gas for residential, industrial, commercial, and transportation needs [4] Dividend Policy - Since its listing in November 2017, the company has maintained a stable dividend level, with cumulative cash dividends amounting to CNY 3.088 billion, averaging over 65% of net profit [5] - The company plans to distribute at least 65% of net profit as cash dividends annually from 2025 to 2027 [5] Green Methanol Investment - The investment in green methanol aligns with national policies promoting green liquid fuel industries, responding to global carbon reduction trends [6][7] - The company aims to leverage green methanol as a clean fuel to meet stringent international maritime emission requirements [7] Partnership with Hong Kong and Financial Impact - The collaboration with Hong Kong and China Gas leverages their expertise in green methanol production and technology [8] - The financial impact of the green methanol project is mitigated by a profit-sharing agreement, ensuring no adverse effects on the company's financial performance from potential losses [9] SOFC Development - The company has established a specialized R&D team for Solid Oxide Fuel Cells (SOFC) and is developing a 50kW SOFC system prototype [10] - SOFC applications include distributed power sources for various commercial and industrial sectors, contributing to carbon reduction and energy efficiency [11]