CHINA GAS HOLDINGS (384) investor relations material

Executive summary

• Free cash flow reached a record HK$4.84 billion, driven by operational improvements, business expansion, and strong performance in new biomass and new energy segments.

• Total revenue was HK$73.6 billion, down 7.1% year-over-year, mainly due to declines in LPG and installation businesses.

• Net profit attributable to owners was HK$2.72 billion, down 16.4% year-over-year, impacted by lower other income and higher corporate tax.

• Dividend payout ratio reached 70%, with a final dividend of HK$0.20 per share.

• ESG performance recognized with an A rating and multiple industry awards, reflecting strong governance and sustainability initiatives.

Financial highlights

• Gross profit was HK$10.88 billion, down 3.4% year-over-year; gross profit margin improved to 14.8%.

• Admin, selling, and financial costs fell by 6.3%, totaling HK$6.89 billion.

• Free cash flow rose to HK$4.84 billion; net cash from operating activities increased to HK$7.02 billion.

• Basic EPS dropped to HK$0.50; annual DPS reduced from HK$0.50 to HK$0.35.

• Cash on hand increased to HK$12.39 billion.

Outlook and guidance

• Dollar margin expected to remain flat amid global procurement price volatility.

• City and township gas sales volume growth forecasted at 0%-2%.

• New residential connections guidance: 0.9–1 million households.

• Value-added services gross/operating profit expected to grow over 10%.

• Continued investment in integrated energy, biomass, and energy storage businesses.