Key Points for Investors

• China International Capital Corporation Limited (CICC), identified as an exempt principal trader connected with the Offeror, reported transactions in the A shares of ENN Natural Gas Co., Ltd. All dealings were made for CICC’s own account and denominated in RMB.
• On 5 March 2026, CICC executed two notable transactions:
  • Purchase of Ordinary Shares: CICC acquired 1,100 shares through the creation of new index-tracking ETFs. Importantly, the relevant securities represented less than 1% of the class in issue and less than 20% of the value of the securities in the basket or index. The total amount paid was RMB 24,541.00, at a price of RMB 22.31 per share.
  • Sale of Ordinary Shares: CICC disposed of 1,100 shares received from the redemption of pre-existing index-tracking ETFs, in response to unsolicited client requests. The sale amounted to RMB 23,793.00, at a price of RMB 21.63 per share.

Implications for Shareholders

• Price Sensitivity: Although the number of shares involved in these transactions (1,100 shares each for both purchase and sale) is relatively minor and represents less than 1% of the share class, the disclosure is significant as it demonstrates ongoing institutional trading activity related to ENN Natural Gas during a sensitive period of privatisation.
• Privatisation Process: The public disclosure is tied to the privatisation process of ENN Natural Gas. Such disclosures are closely watched by the market, and any accumulation or disposal by connected parties can be price-sensitive, especially if the transactions hint at institutional sentiment or potential future moves.
• ETF-Related Flows: Both transactions were associated with index-tracking ETFs, which may not directly reflect active investment decisions regarding ENN Natural Gas itself, but rather the mechanics of ETF creation and redemption. However, the involvement of an exempt principal trader connected with the Offeror can be interpreted by the market as a signal worth monitoring.
• Trading Prices: The purchase was executed at RMB 22.31 per share and the sale at RMB 21.63 per share. These prices can serve as reference points for recent institutional trading levels.

Conclusion

While the volume of shares traded is limited, the context of these transactions—against the backdrop of a possible privatisation and the involvement of a principal trader connected to the Offeror—could be of interest to current and potential shareholders. Such transactions, even if small in size, could be indicative of institutional activity or sentiment during a sensitive corporate action. Shareholders should continue to monitor disclosures for any escalation in activity or further developments related to the privatisation process.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult their financial advisors before making any investment decisions. The information is based on public disclosures and may not reflect the latest developments.

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