KUNLUN ENERGY (00135) has released its interim results for the six months ended June 30, 2026, reporting total operating revenue of RMB 100.042 billion, a 2.56% increase year-on-year.

Profit before income tax reached RMB 6.782 billion, up 0.67% from the prior-year period. Net profit attributable to shareholders rose 4.59% to RMB 3.306 billion, with basic earnings per share climbing 4.93% to RMB 38.31 cents. Operating cash flow surged 41.66% to RMB 6.213 billion, providing a robust and stable net cash position that underpins the company's green and low-carbon transition, industrial upgrade initiatives, and continued returns to investors.

During the period, the company navigated a challenging operating environment marked by persistent international geopolitical conflicts and weak demand-supply dynamics in the domestic natural gas market. Its core natural gas sales segment effectively absorbed downward pressure, while other business divisions maintained solid performance, contributing to an overall steady improvement in profitability.

In the first half of the year, total natural gas sales volume reached 30.156 billion cubic meters, up 3.65% year-on-year. Retail gas sales, however, declined 1.71% to 16.381 billion cubic meters, primarily due to reduced consumption from certain industrial sectors. This segment generated revenue of RMB 82.679 billion, a 3.25% increase, while profit before income tax fell 5.58% to RMB 4.227 billion.

The LNG processing and storage business posted revenue of RMB 4.873 billion, representing an 11.48% year-on-year gain, although profit before income tax decreased 3.87% to RMB 1.765 billion. Meanwhile, LPG sales volume dropped 10.65% to 2.7415 million tonnes, with revenue declining 4.79% to RMB 12.396 billion. Despite the volume and revenue setbacks, profit before income tax for the LPG segment grew 20.40% to RMB 655 million.