---
title: "【True Insight Hong Kong Market Trends】Kunlun Energy (00135.HK) achieved revenue of 97.543 billion yuan, with total natural gas sales volume increasing by 10.05%."
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/33163785.md"
description: "On August 19, 2025, Kunlun Energy Company Limited (00135.HK) $KUNLUN ENERGY(00135.HK) announced its unaudited interim results for the six months ended June 30, 2025. In the first half of the year, the global gas trade landscape underwent significant adjustments, with prices in the three major international markets rising compared to the previous year, and structural changes in inter-regional trade flows. Domestic supply grew steadily, while LNG imports declined year-on-year. Domestic natural gas consumption growth faced periodic pressure, with changes in demand structure and intensified competition in the end-user market, keeping natural gas supply and demand relatively loose..."
datetime: "2025-08-20T13:06:03.000Z"
locales:
  - [en](https://longbridge.com/en/topics/33163785.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/33163785.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/33163785.md)
author: "[真灼财经](https://longbridge.com/en/profiles/1067948.md)"
---

# 【True Insight Hong Kong Market Trends】Kunlun Energy (00135.HK) achieved revenue of 97.543 billion yuan, with total natural gas sales volume increasing by 10.05%.

On August 19, 2025, Kunlun Energy Company Limited (00135.HK) $KUNLUN ENERGY(00135.HK) announced its unaudited consolidated interim results for the period ending June 30, 2025.

In the first half of the year, the global gas trade pattern underwent deep adjustments, with prices in the three major international markets rising compared to the previous year, and trade flows between regions showing structural changes. Domestic supply steadily increased, while LNG import volumes decreased year-on-year. Domestic natural gas consumption faced temporary pressure, with changes in demand structure, intensified competition in the terminal market, and a slight year-on-year decrease in apparent consumption. Facing an exceptionally complex and volatile macro and industry environment, the group confronted challenges, adapted to changes, actively took action, overcame difficulties, insisted on expanding scale, increasing users, optimizing structure, controlling costs, and deeply advancing market marketing and corporate governance modernization, actively optimizing resource allocation, deepening the existing market, seizing incremental opportunities, achieving stable and controlled production operations, steady improvement in operating performance, and maintaining strong profitability.

In the first half of the year, Kunlun Energy achieved revenue of RMB 97.543 billion, an increase of 4.97% year-on-year. Profit before tax was RMB 6.737 billion, and profit attributable to shareholders was RMB 3.161 billion, with basic earnings per share of RMB 0.3651.

Natural Gas Sales

The group actively responded to changes in the development pattern of the gas industry, widely engaging in joint ventures and cooperation with other gas companies, continuously launching new city gas projects, and expanding long-term development space. In the first half of the year, 5 new city gas projects were added, distributed in Inner Mongolia, Shandong, and Guizhou provinces. Achieved natural gas sales of 29.095 billion cubic meters, an increase of 10.05% year-on-year, with retail gas volume of 16.666 billion cubic meters, an increase of 2.23% year-on-year. Added 398,800 new users, including 389,800 residential users and 9,000 industrial and commercial users, with a total of 16.8526 million users.

In the first half of the year, the natural gas sales business achieved revenue of RMB 80.078 billion, an increase of 6.06% year-on-year.

LPG Sales

The group optimized resource allocation, maintained a reasonable supply-demand balance in resource-rich Northeast and Northwest regions, transferred surplus resources for sale, and maintained overall high price operation. Promoted "molecular sales" to precisely match products according to user needs, strictly controlled procurement costs, strengthened price benchmarking, expanded competitive bidding sales and online sales scale. Despite a year-on-year decline in market prices, maintained reasonable benefits. The group also optimized sales structure, vigorously expanded LPG industrial direct supply channels, adding 5 new industrial direct supply users. In the first half of the year, achieved LPG sales of 3.0684 million tons, achieving revenue of RMB 13.020 billion, an increase of 1.03% year-on-year.

LNG Processing and Storage

Kunlun Energy adhered to professional development, market-oriented operations, lean management, and integrated coordination, continuously enhancing the overall profitability of LNG processing and storage business. The receiving station business achieved safe and stable operation, and the company's vigorously implemented LNG plant loss control special action achieved results, further solidifying the profit foundation. In the first half of the year, the average production load rate of 14 continuously operating plants was 57.1%, maintaining stable high load rate operation. Achieved self-produced and self-sold 417 million cubic meters, and commissioned processing volume of 1.335 billion cubic meters, with a year-on-year decrease of 10.52% and an increase of 2.14%, respectively.

In the first half of the year, LNG processing and storage business achieved revenue of RMB 4.371 billion, a decrease of 1.58% year-on-year; profit before tax was RMB 1.836 billion, an increase of 11.41% year-on-year.

Exploration and Production

In the first half of the year, the group sold 4.12 million barrels of crude oil, an increase of 1.98% compared to the same period last year. Due to the decline in international crude oil prices, the group's average realized crude oil sales price decreased from last year's $67.77 per barrel to $62.88 per barrel, with crude oil sales revenue of RMB 0.074 billion, a decrease of 15.91% year-on-year.

Business Outlook

In the second half of the year, global economic growth will face pressure under the intertwining of multiple variables such as supply chain fragility, and it is expected that global natural gas market demand will grow slowly in the second half of the year. The domestic economy is at a critical juncture of structural adjustment and industrial upgrading, with accelerated green and low-carbon transformation, opportunities and challenges coexist, while the foundation is stable, advantages are many, resilience is strong, potential is great, and the long-term favorable support conditions and basic trends have not changed. With the continuous efforts of macro policies such as "anti-involution", expanding domestic demand, and stabilizing growth, combined with energy resource security assurance and the reshaping of the new energy consumption system, the bridge and support role of natural gas will continue to be highlighted; city gas safety supervision upgrades, gas-new integration development, price linkage deepening, and improvement of provincial pipeline transmission price mechanism will promote industry quality improvement and efficiency enhancement, releasing greater growth space.

At the key node of the "14th Five-Year Plan" conclusion and "15th Five-Year Plan" layout, Kunlun Energy is full of confidence in the annual performance guidance and future development. The group will seize policy opportunities, adapt to transformation trends, respond to external uncertainties with strategic determination and high-quality development certainty. Firmly establish the concept of "grasping innovation is grasping development, planning innovation is planning the future", "always regard the market as the lifeline of development" and "strict management produces benefits, fine management produces great benefits, lean management produces greater benefits". Relying on the advantages of upstream and downstream coordination, industrial chain integration, professional management, and network location scale, strengthen management, drive innovation, accelerate transformation, continue the development momentum of greener industry, safer operation, more refined management, and more efficient governance, actively reward shareholders with more stable performance. During the "15th Five-Year Plan" period, will continue to promote the steady development of terminal gas business, enhance digital and intelligent safety operation level and profitability, optimize business layout, accelerate the construction of gas-electric-cold-heat comprehensive energy supply "ecology", cultivate and strengthen new quality productivity, actively build a green comprehensive energy supply system.

In the second half of the year, Kunlun Energy will continue to strive in five aspects, strongly optimize and expand city gas business, focus on coordinating reasonable growth and effective improvement of terminal sales volume, achieve better efficiency and greater benefits; vigorously enhance LNG industry chain profitability, further optimize LNG plant maintenance mechanism, achieve long-cycle, high-load operation of plants; focus on enhancing LPG resource creation capability, increase terminal sales, expand market segmentation, secondary creation of civilian terminal benefits, regularly conduct LPG competitive bidding sales, expand import resource increment and efficiency, accelerate the construction of Jiangsu Yancheng LPG import terminal warehouse, enhance creation momentum; accelerate green and low-carbon transformation and upgrading; adhere to "based on reality, highlight key points, concentrate efforts, pilot first", actively explore new fields, promote the development of emerging industries, create "second growth curve"; deepen reform and innovation to stimulate vitality, focus on scientific control, lean operation and value creation, drive reform and innovation "dual wheels".

Kunlun Energy will continue to anchor "innovation, green, market, capital, low cost" five development strategies, insist on practical work, strive for excellence, strongly expand the market, improve efficiency, refine management, promote transformation, achieve high-level performance guidance and scientific compilation of "15th Five-Year Plan" development plan; continuously shape new advantages, stimulate new momentum, with better performance to reward investors and shareholders, promote sustainable "win-win" of enterprises with environment, society and all parties.

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