ENN Energy Holdings Limited

2688
Failed

Company Overview

Xinao Energy Holdings Co., Ltd. (02688.HK) is the flagship industry of Xinao Group and is the largest domestic distributor of clean energy. We are based on our new strategic position as a “digital smart city service provider for family quality of life and corporate carbon management”, guided by customer needs, based on customer value creation, and striving to achieve digital intelligence transformation and upgrading on the basis of consolidating intrinsic safety. Xinao Energy is actively grasping the opportunities of the dual carbon policy and energy system reform, starting from user needs, taking the development of the entire energy value chain as the core to build an energy system that adapts to local conditions, prioritizes clean energy, complements multiple energy, and integrates supply. Promote customers to reduce energy costs and achieve a low-carbon transition. At the same time, we take the family scenario as the core, focus on the customer's quality of life needs, cooperate with internal and external ecology to provide intelligent services to help families enter a new stage of a better life. Xinao Energy pursues the mission and vision of “creating a modern energy system, improving people's quality of life, and becoming a respected innovative smart enterprise”, actively grasps the opportunities of the country's low-carbon development era, and realizes the low-carbon transformation of its own business by optimizing its own energy usage structure, using clean energy technology and constantly upgrading intelligent energy management capabilities, and at the same time provides customers with more low-carbon and clean products and services to help the country achieve the “double carbon” goal and create a low-carbon future.

Country
HK
Market Cap
$8.33B
Last Fiscal Year
2023
Final Shariah Status
Failed
Compliance Analysis Overview

Shariah Compliance Benchmarks:

  • Business Compliance: Non-Shariah compliant revenue must be less than 5% of total revenue
  • Liabilities Compliance: Interest-bearing debt must be less than 33% of market capitalization
Business Compliance
0.29% passed
5% Threshold
0.3%
Liabilities Compliance
36.95% failed
33% Threshold
37.0%
Final Shariah Status
Failed

This stock does not meet all Shariah compliance criteria according to AAOIFI standards.

Stock Information
Name ENN Energy Holdings Limited
Ticker 2688
Main Business Utilities—Regulated Gas
Type Common Stock
Industry Utilities—Regulated Gas
Country HK
Market Cap $8.33 B

Shariah Analysis Breakdown

Business compliance Breakdown
Revenue Segment Value ($M) Non-Compliant ($M) Reason
Sales of goods $102,981.0 $0.0 -
Provision of services $7,070.0 $0.0 -
Other income $953.0 $323.0 Interest income and dividend
Share of results of associates $68.0 $0.0 -
Total $111,072.0 $323.0 0.29% (passed)
Liabilities Compliance Breakdown
Liability Item Value ($M) % of Market Cap
bank loans and overdrafts $1,228,291,316.5 14.75%
derivative financial instrument current liabilities $6,022,409.0 0.07%
long term bank loan $760,504,201.7 9.13%
derivative financial instruments non current liabilities $840,336.1 0.01%
convertible notes and bonds $1,082,633,053.2 13.00%
Total Interest-Bearing Debt $3,078,291,316.5 36.95%
Market Capitalization $8,330,128,205.1 100.00%
Compliance Status Threshold: 33% failed