Changchun Gas Co Ltd

Changchun Gas released its 2026 interim report, with total operating revenue of 1.184 billion yuan, up 11.10 percent year on year, and net profit attributable to the parent company of minus 21.7893 million yuan, narrowing the loss by 33.2954 million yuan compared with the same period last year. Net cash flow from operating activities was minus 186 million yuan, the asset-liability ratio was 71.70 percent, and the gross margin was 18.55 percent, ranking ninth among disclosed peer companies and rising for three consecutive years. Diluted earnings per share were minus 0.04 yuan, and both total asset turnover and inventory turnover improved. The company had 40,200 shareholders, with the top ten shareholders holding 61.23 percent of total share capital.

Changchun Gas disclosed its earnings forecast, expecting a net loss attributable to the parent of 21.7893 million yuan in the first half of 2026, compared with a loss of 55.0847 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 29.2157 million yuan, compared with a loss of 66.4416 million yuan a year earlier. During the reporting period, the company's gas sales volume increased by 5.19 percent year-on-year, but the gross profit from operations was still insufficient to cover current operating expenses, resulting in a failure to achieve profitability. Based on the closing price on July 14, Changchun Gas currently has a price-to-earnings ratio of about 140.47 times, a price-to-book ratio of about 1.77 times, and a price-to-sales ratio of about 1.38 times. The company is mainly engaged in the gas sales business.