BOC International has issued a research report indicating that KUNLUN ENERGY (00135) recorded a 5% year-on-year increase in profit for the first half of 2026, reaching RMB 3.3 billion. This figure surpassed the brokerage's forecast by 5%, primarily attributed to stronger-than-anticipated profit margins in its LPG sales and LNG processing operations.
The brokerage projects that earnings for the second half of 2026 will decline by 19% compared to the first half, as the company typically recognizes a larger portion of its costs during this period. Consequently, BOC International has reaffirmed its "Buy" rating on the stock while revising its target price downward to HK$8.59.
Comments