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The Hong Kong and China Gas Company (3) investor relations material
The Hong Kong and China Gas Company H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Navigated a challenging macro environment with tariff uncertainties, weak PMI, and property market downturn, but benefited from government stimulus, green energy initiatives, and tourism recovery.
Maintained steady gas sales volumes in Hong Kong and Mainland China, with after-tax operating profit up 3% to HK$3,996 million and core operating profit up 4% year-over-year.
Profit attributable to shareholders decreased 3% to HK$2,964 million, mainly due to non-operating losses and FX impacts.
Interim dividend maintained at HK12 cents per share.
Accelerated hydrogen and green methanol projects, expanded digital capabilities, and secured major strategic partnerships.
Financial highlights
Revenue for H1 2025 was HK$27,514 million, flat year-over-year.
Profit from operations rose 3% to HK$3,996 million; core operating profit (excluding FX) up 4%.
Profit attributable to shareholders was HK$2,964 million, down 3% year-over-year.
Basic EPS was 15.9 HK cents, down from 16.3 HK cents in H1 2024.
Operating expenses decreased by 1% to HK$22,877 million.
Outlook and guidance
2025 guidance projects steady gas sales, customer growth, and increased PV grid connection; Hong Kong gas sales expected to remain flat in H2 2025.
Mainland business to pursue asset-light model, focusing on operational optimization and technology.
Growth businesses, especially renewable energy and green fuels, identified as key profit drivers.
Malaysia biofuels plant to commence production before year-end; green methanol sales target set at 0.02 million tonnes.
Electricity trading volume expected to rise 5% to 8.8 billion kWh.
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