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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.
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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