---
title: "Citi Downgrades ENN ENERGY  to Neutral After Privatization Plan Scrapped"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/289724679.md"
description: "Citi downgraded ENN ENERGY to Neutral and cut its target price from HKD72 to HKD50 after the company scrapped its privatization plan. Citi cited a lack of near-term positive catalysts and weak fundamentals, noting only a 0.5% YoY increase in retail gas sales volume. The bank expects continued weak growth due to upstream cost pressures from rising oil and gas prices amid the Middle East conflict, though earnings forecasts remain unchanged."
datetime: "2026-06-15T03:35:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/289724679.md)
  - [en](https://longbridge.com/en/news/289724679.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/289724679.md)
generator: "portal-rs"
---

# Citi Downgrades ENN ENERGY  to Neutral After Privatization Plan Scrapped

ENN (600803.SH) -0.610 (-3.328%) announced the withdrawal of its plan to privatize ENN ENERGY (02688.HK) -2.800 (-5.731%) Short selling $13.94M; Ratio 6.288% . In a research report, Citi stated that the failure of the privatization plan implies a lack of positive catalysts for ENN ENERGY in the near term. Therefore, it lowered the TP from HKD72 to HKD50 and expects the share price to revert to fundamentals. The investment rating was downgraded from Buy to Neutral, supported by an estimated dividend yield of approximately 6.4% in 2026.Citi noted that ENN ENERGY's fundamentals have yet to show improvement. Retail gas sales volume in 1Q26 increased only 0.5% YoY. The bank expects growth to remain weak in 2Q26 due to cost pressures from rising upstream oil and gas prices amid the Middle East conflict. Earnings forecasts remain unchanged. (gc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-12 16:25.) (A Shares quote is delayed for at least 15 mins.)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**