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BUZZ-China's Kunlun Energy hits 4-1/2-month low on weaker first-half profit

Reuters
Aug 20
BUZZ-China's <a href="https://laohu8.com/S/00135">Kunlun Energy</a> hits 4-1/2-month low on weaker first-half profit

** Shares of Kunlun Energy 0135.HK fall 5.9% to HK$7.2, their lowest point since April 9, and on track for a third straight session of decline

** Stock on course for its biggest one-day pct drop since April 7, if current losses hold

** Chinese natural gas producer and distributor says its H1 net profit fell 4.4% y/y, while revenue rose 5% y/y and total volume of natural gas sales increased 10.05% y/y

** Citi keeps "buy" rating, saying 1H25 profit drop and miss is mainly due to reduced earnings from retail gas sales and Kunlun's share price might be dragged by weaker-than-expected results

** The Hang Seng Composite Index tracking energy stocks .HSCIE slips 0.1%, while the Hang Seng Mainland Oil & Gas Index .HSMOGI gains 0.5%

** YTD, stock down 12.4%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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