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Towngas Smart Energy (1083) investor relations material

Towngas Smart Energy H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary15 Aug, 2025

Executive summary

  • Gas sales volume remained steady at 8,746 million m³ in 1H2025, with city gas dollar margin rising to 0.57 RMB/m³ and customer base reaching 18.02 million.

  • Renewable energy segment net profit grew 5% year-over-year to HK$172 million, with PV power generation up 44% to 1.18 billion kWh and grid-connected capacity at 2.6 GW.

  • Operating profit rose 2% to HK$719 million, and profit attributable to shareholders increased 2% to HK$758 million compared to 1H2024.

  • Interim dividend of HK5 cents per share declared, with a scrip option for shareholders.

  • Group strategy focused on expanding gas resources, asset-light renewable investments, and digital empowerment for efficiency.

Financial highlights

  • Revenue decreased 1% year-over-year to HK$10,437 million in 1H2025.

  • Core operating profit increased 2% to HK$719 million; basic EPS declined to 21.8 HK cents.

  • Interim dividend maintained at 5 HK cents per share.

  • Total assets grew to HK$55.2 billion, with net assets at HK$26.6 billion as of 30 June 2025.

  • Net gearing ratio stable at 36%; credit ratings remain BBB+ (S&P), Baa1 (Moody’s), AAA (CCXI).

Outlook and guidance

  • 2025 guidance targets gas sales volume of 17.3 billion m³ (+1%) and 18.27 million customers (+0.63 million).

  • City gas dollar margin expected to remain at 0.57 RMB/m³.

  • Renewable energy aims for 2.9 GW PV grid-connected capacity and 2.58 billion kWh power generation (+40%).

  • The group will focus on prudent financial management, digital transformation, and expanding integrated energy services.

  • Renewable energy is projected to remain a key profit driver, with ongoing investment in technology and energy storage.

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H2 202517 Mar, 2026
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Frequently asked questions

Towngas Smart Energy Company Limited, a subsidiary of the Hong Kong and China Gas Company, focuses on providing clean energy and integrated energy solutions. The company’s primary activities include the distribution of natural gas and the development of smart energy services, such as renewable energy projects and energy efficiency solutions for residential, commercial, and industrial clients. Towngas Smart Energy also develops digital platforms and IoT technologies to enhance energy management and sustainability. The company is headquartered in Hong Kong, and its shares are listed on the HKEX.

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