The Point for Asia Pacific

Research evidence excerpt

The Point for Asia Pacific

Mon Tue Thu Fri

WedJul 2Q26E

20 21 22 24 netor Electric

Company Currency Period Citi1H26Eprofit YoY Beat Miss or Comment on management guidance & share price drivers 27 29 23LS30

28HD Hyundai Electric Heavy

2,350 Miss buyback >40m shares done so far, with share buyback pace since 2026 GasCR Gasdistributors: Rmbm 1H26 -2.2% 31HyosungXinyiXinyi SolarEnergy

core to drop 3% yoy to Rmb3bn in 1H26 owing to lessaccelerated new houshold Mayconnections August

2,350 Miss mor than profit10% yoy ENN Energy Rmbm 1H26 -3.3% 3 5 7

more profits from green methanol and HK gas operation offsetting less from PRC gas 4Ningbo Orient Cables

briefing at 4:00pm HKT Inline owing to reduced newSAF, houshold connections 1.2%

10 6CLPAnalyst13 3,0002,900 Miss ShareExpectingdownExpectingoperationProfit cut for less new household connections and dollar margin cut of retail gas sales HKCGKunlun RmbmHK$m 1H261H26 -8.3%

Everbright Water Greentech 14Sieyuan 11ChinaHK Electric Investment

Gas distributors: Assets

less profits from Australia (for lowered wholesales margins) and China (for renewable 20

17Towngas Smart Energy Power Int'l 5,500 Miss Assumingtariff and utilisation cut) despite with more earnings from Hong Kong CLP HK$m 1H26 -2.8% 18HuanengHKCG 21TBEADajin Heavy

one-off disposal from sales of UK Rail Jan (HK$2bn) and UKPN on 7 May 2026

First net profitgain -8% theyoy HK$4.0bn in owing2026 to the 1H26E DPS to

21,000 Inline HK$0.02 recurrentyoy to HK$0.75. Some forex togain from AUD 1H26Ebutin forex loss disposal;GBP CKI HK$m 1H26 383.0%

Electric

one-off disposal gain the of 40% owned on May 2026; recurrent net profit Solar Electric (08-31)

yoy to HK$2.83bn in fromowing to disposal; 1H26E DPSUKPN to be 7fromflat yoy at HK$0.75.