China Resources Gas Group (1193) H2 2025 earnings summary

Executive summary

• Revenue declined by 4.8% year-over-year to HK$97.73 billion, while profit attributable to owners dropped 13.2% to HK$3.55 billion.

• Gross gas sales volume increased 0.7% to 40.18 billion m³, with industrial gas sales up 0.3% and residential gas sales up 4.9%.

• Comprehensive services revenue fell 4.9% to HK$4.00 billion, but segment profit rose 0.9% to HK$1.41 billion.

• The Group maintained a stable gross profit margin of 17.8% and operating cash flow of HK$6.58 billion.

Financial highlights

• Revenue: HK$97.73 billion (down 4.8% year-over-year).

• Profit attributable to owners: HK$3.55 billion (down 13.2% year-over-year).

• Basic EPS: HK$1.55 (down from HK$1.80 in 2024).

• Gross profit: HK$17.42 billion (down from HK$18.26 billion in 2024).

• Operating cash flow: HK$6.58 billion.

• Final dividend per share: HK$0.65; total for the year: HK$0.95 (unchanged year-over-year).

Outlook and guidance

• Plans to consolidate core city gas business and accelerate diversified energy services.

• Focus on digital transformation, operational efficiency, and expanding integrated energy business.

• Strategic emphasis on green development, carbon reduction, and value chain extension.