Enn Energy Holdings Limited · HKEX:2688
Enn Energy — H1 2025 Earnings Presentation
34 slides from Enn Energy's earnings presentation, Aug 27, 2025
Slide 1: 2025 Interim Results
2025 Interim Results Win-win Situation with Customers Growing Profit by Increasing Sales Volume Value Creation through Diverse Energy Products and Services 2025.8.27
Slide 2: Business Highlights
Business Highlights Core profit reached RMB3.22 bn, core profit from domestic businesses increased by 0.7% yoy to RMB3.1 bn Retail gas sales volume increased by 1.9% yoy to 12.95 bn m3, with the newly installed designed daily capacity of 6.29 mn m3 for C/I customers, and newly developed 692,000 resi
Slide 3: Contents
Contents 1. Performance Review 2. Development Strategy 3. Appendix
Slide 4: Domestic Business: Steady Growth & Continuous Profit Optimization
Domestic Business: Steady Growth & Continuous Profit Optimization Proactively adapting to market changes, focusing on customer needs, upgrading products and services, steadily increase contributions from integrated energy and smart home businesses. RMB mn Gross Profit Mix 1H2025 Items 1H2024 1H202
Slide 5: Natural Gas Business: Adhering to Scale-driven Profitability, Achieving Steady Growth in Retail Gas Sales
Natural Gas Business: Adhering to Scale-driven Profitability, Achieving Steady Growth in Retail Gas Sales Retail gas volume grew 1.9% through maximizing existing customer demand and agile resource portfolio management Retail Gas Key Initiatives Retail Gas Volume Gross profit* Analyse key custome
Slide 6: IE Business: Expanding Installed Capacity, Strengthening Financial Performance
IE Business: Expanding Installed Capacity, Strengthening Financial Performance Actively promote integrated energy concept, accelerate PV and energy storage deployment, enhance lean operational capabilities for projects, and achieve steady growth of integrated energy businesses Key Initiatives IE I
Slide 7: Smart Home Business: Innovative Products and Services, Explore New Rooms for Growth
Smart Home Business: Innovative Products and Services, Explore New Rooms for Growth Identifying customer needs in security services, creating an integrated model for value-added services, and achieving scalable growth of new products such as Safety Guardian 1H2025 1H2025 Average RMB649 Number of t
Slide 8: Prudent Deployment in New Business Investment, Strengthening Customer Risk Control
Prudent Deployment in New Business Investment, Strengthening Customer Risk Control Capitalize on power sector reforms to selectively expand photovoltaic-storage integrated energy services, providing stable support for new business development Offering customer credit through bank acceptance bill
Slide 9: Healthy Debt Structure, Strong Credit Ratings
Healthy Debt Structure, Strong Credit Ratings Optimising the debt structure while scaling down interest-bearing liabilities; the credit ratings assigned to the company by S&P, Moody‘s, and Fitch, are BBB+(stable)、Baa1(stable)、BBB+(stable), respectively; Prudent debt structure and strong credit rat
Slide 10: Contents
Contents 1. Performance Review 2. Development Strategy 3. Appendix
Slide 11: Focus on Evolving Customer Needs to Unlock New Growth Opportunities
Focus on Evolving Customer Needs to Unlock New Growth Opportunities Amid a complex external environment, customer demands are evolving towards cost control, green and low-carbon solutions, and quality services. While this presents challenges, it also unlocks new business opportunities Macro Enviro
Slide 12: Driven by Customer Demand, Innovative Models to Enhance Gas Volume Scale
Natural Gas Business IE Business Smart Home Business Driven by Customer Demand, Innovative Models to Enhance Gas Volume Scale Identify differentiated customer demands, orderly allocate gas resources, and achieve a stable growth in retail gas volume Market Potential Key Initiatives Model Innovation
Slide 13: Deeply Explore Existing Customer Potential, Accelerate Customer Development through Flexible Initiatives
Natural Gas Business IE Business Smart Home Business Deeply Explore Existing Customer Potential, Accelerate Customer Development through Flexible Initiatives Significant potential remains within the concession area. By leveraging efficient business opportunity identification and development & deli
Slide 14: Apply Intelligence to Enhance Quality and Efficiency, Steadily Improve Operational Capability
Natural Gas Business IE Business Smart Home Business Apply Intelligence to Enhance Quality and Efficiency, Steadily Improve Operational Capability Strengthen supply-demand matching to enhance natural gas value；Utilise intelligence to improve pipeline asset operational efficiency and improve profit
Slide 15: Adhere to the "Process + Energy & Carbon + Intelligence" Strategy
Natural Gas Business IE Business Smart Home Business Adhere to the "Process + Energy & Carbon + Intelligence" Strategy, Scale Up Expanding Factory and Building Businesses By deeply understanding our clients' production processes, we leverage the integrated "Process + Energy & Carbon + Intelligence
Slide 16: Implement the "Load-Source-Grid-Storage-Sales-Carbon-Intelligence" Integration Model
Natural Gas Business IE Business Smart Home Business Implement the "Load-Source-Grid-Storage-Sales-Carbon-Intelligence" Integration Model to Expand the Scale of Electric Power Business The market potential is vast, driven by the advancement of power reform policies such as new energy marketisation
Slide 17: Leverage Intelligence to Enhance IE Project Delivery & Operational Capabilities
Natural Gas Business IE Business Smart Home Business Leverage Intelligence to Enhance IE Project Delivery & Operational Capabilities, Unlocking the Full Business Value Installed capacity in operation reached 13.9GW. Leveraging intelligence to consolidate best practices, continuously improve effici
Slide 18: Upgrade Products & Services to Expand the Smart Home Business into Growing Markets
Natural Gas Business IE Business Smart Home Business Upgrade Products & Services to Expand the Smart Home Business into Growing Markets Leveraging accumulated customer service and safe operation capabilities, we will iterate on products and services to expand our smart home business into growing m
Slide 19: Analyze Household Customer Needs and Innovate Services to Upgrade of Smart Home Business
Natural Gas Business IE Business Smart Home Business Analyze Household Customer Needs and Innovate Services to Upgrade of Smart Home Business Build the 'e-City e-Home' platform to comprehensively understand household customer needs, leverage customer service and safe operation capabilities, contin
Slide 20: Enhance ESG Capabilities for Sustainable Development
Enhance ESG Capabilities for Sustainable Development We drive the improvement of management effectiveness by strengthening our governance structure and ESG risk management system. In 1H 2025, our ESG ratings maintained an industry-leading position, supporting low-cost financing and enhancing capit
Slide 21: Stable Dividend Policy to Reward Shareholders
Stable Dividend Policy to Reward Shareholders To declare an interim dividend of HK$0.65, remained the same level as the same period last year Dividend per Share & Expected Dividend Payout Ratio 0.64 0.64 0.65 0.65 0.59 21% 21% 15% 15% 17% 1H 2021 1H 2022 1H 2023 1H 2024 1H2025 DPS (HK$ per share)
Slide 22: Offer to Privatize ENN Energy
Privatization Overview and Progress ENN Energy has established an independent board of directors comprising four INEDs. This board will issue recommendations in the scheme document regarding whether the terms of the privatization and share option offer are fair and reasonable, the shareholder vote
Slide 23: This presentation/roadshow is an earnings event
This presentation/roadshow is an earnings event. In compliance with applicable regulations, we are unable to answer questions regarding the transaction. For details on this transaction, please refer to our previously published announcements. Should you have further inquiries, please contact our Inve
Slide 24: Thank You
THANK YOU iia!
Slide 25: ENN—Leveraging Intelligent Innovation Services to Become a Multi-value Service Provider
ENN—Leveraging Intelligent Innovation Services to Become a Multi-value Service Provider Anchored in Natural Gas Operations Company Profile Established in 1993, ENN is one of the leading private clean energy distributor in China ENN's principal business includes investing in constructing, operati
Slide 26: Business Landscape
Business Landscape As of 30 June 2025, ENN Energy provided energy services to 32.07 mil residential households and Heilongjiang 293,141 C/I customers in 22 provinces, cities and autonomous regions. Inner Mongolia Liaoning Beijing 263 city gas projects in operation, serving Tianjin 145 mil people Heb
Slide 27: Upstream value chain, self-operation, downstream value chain
@ Upstream Vatue chain —@ sett-operation @_ downstream value Chain — ENN#igR 27
Slide 28: Typical Industrial Park IE Project - Cash Flow Projection
Typical Industrial Park IE Project - Cash Flow Projection* 1. Stable & Recurring Income • Integrated energy solutions reduce customers’ overall energy bills by 10% • Selling the types of energy customer need increases their stickiness Cash flow break-even 2. Rapid Cash Flow Generation • Capex are in
Slide 29: Simplified Model for a Typical City Gas Project
Simplified Model for a Typical City Gas Project* Revenue/Cost Cash flow break-even Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Revenue Gas Usage Fee Connection Fee CAPEX Free Cash Flow Connection fee dominates in early years when the project companies are signing
Slide 30: Gas Delivery Process
Gas Delivery Process Natural gas fields Pressure regulating plants(1) Storage tanks (spherical or cylinder) or Residential Industrial households(2) users(2) Assets owned by the Group : Intermediate pipelines CNG or Main pipelines LNG trucks(1) Branch pipelines Pressure regulation boxes Switches CNG
Slide 31: IE Business Model
IE Business Model Multi-energy Coupling, Provide Load Source, Network And Storage Integrated Solutions Supply Network Heat Customer Hosting Services Load Energy Saving Boiler Charging Post Demand Response Gas Utilization Of Residual Customer Energy Customer Pressure Regulator Customer De
Slide 32: IE Business Logic
IE Business Logic Cooling, Heating, Electricity, Warming Different Installed Capacity Different Investment Amount Forecast Calculation Key Factor Customer Installed Investment Load Capacity Quota Macro- environment Affect Industrial Policy Practice Energy IRR Energy Optimization Calculation Energy K
Slide 33: Smart Home Business: Linking Home, Community and Public Services Based on IoT
Smart Home Business: Linking Home, Community and Public Services Based on IoT to Innovate Services and Products Intelligent Security Stove Innovative New Service Innovative Maintenance Concealed Piping Xiaoe E Smart Zhijia Home Smart Community Security Guard Appliance Upgrade Services Community Guar
Slide 34: Disclaimer
Disclaimer This presentation material and any oral discussions accompanying the briefing are provided for your reference only and may contain certain forward-looking statements. These include our intentions, beliefs, or current expectations regarding ENN Energy's business operations, market conditio