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CHINA GAS HOLDINGS (384) investor relations material
CHINA GAS HOLDINGS H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary28 Nov, 2025
Executive summary
Revenue for the six months ended 30 September 2025 was HK$34.48 billion, down 1.8% year-over-year; profit attributable to owners fell 24.2% to HK$1.33 billion; basic EPS was HK24.73 cents, down 24.4%.
Free cash flow increased 17.2% to HK$2.60 billion; interim dividend maintained at HK15.0 cents per share.
ESG ratings improved, with MSCI upgraded to A and other ratings also rising.
The Group maintained a prudent investment approach, focusing on digital transformation, safety, and expansion in integrated energy and value-added services.
Financial highlights
Gross profit was HK$5.51 billion, down 6.0% year-over-year; gross margin was 16.0% (2024: 16.7%).
Natural gas revenue was HK$20.4 billion, up 3.8%; LPG revenue fell 12.3% to HK$8.38 billion; value-added services revenue was HK$2.02 billion, up 0.3%.
Operating profit from LPG surged 125.6% despite a 4.5% drop in sales volume and 12.3% revenue decline.
Net cash flow from operating activities was HK$3.13 billion; bank balances and cash at period end were HK$12.91 billion.
Earnings per share were HK24.73 cents, a 24.4% decrease year-over-year.
Outlook and guidance
Dollar margin for city & township gas expected at 0.55 RMB/m³; sales volume growth projected at 0–2%.
Residential new connections targeted at 1.0–1.2 million households for the full year.
Value-added services operating profit expected to grow 10%+; C&I BTM energy storage in operation to reach 800 MWh.
The Group will leverage digital transformation and policy opportunities for sustainable, high-quality growth.
Focus remains on payment collection, margin expansion, cost control, and workforce upskilling.
How does digital strategy address declining gas connections?
Sustainability of FCF growth despite profit decline?
Integrated energy's current and future profit impact?
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Next CHINA GAS HOLDINGS earnings date
H2 202626 Jun, 2026
Next CHINA GAS HOLDINGS earnings date
H2 202626 Jun, 2026
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Frequently asked questions
China Gas Holdings Limited is a Hong Kong-based company specializing in the distribution of natural gas and liquefied petroleum gas (LPG). The company engages in the construction and operation of city gas pipelines, the distribution of residential and commercial gas, and the development of gas-related infrastructure. The company is headquartered in Hong Kong, and its shares are listed on the Hong Kong Stock Exchange.
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