Media Resources

(20 August 2025) The Hong Kong and China Gas Company Limited (stock code: 0003, hereinafter referred to as “the Group”) has announced its interim results. During the period, the Group recorded revenues of HK$27,514 million, with after-tax operating profit growing 3% to HK$3,996 million. Taking into account non-operating gains and losses, profit attributable to shareholders decreased by 3% to HK$2,964 million. Excluding foreign exchange gains and losses on borrowings, core operating profit increased by 4%. 

For the Hong Kong utility business, lower temperatures compared to the same period last year led to an increase in residential gas sales. During the period, the Group completed several gas facility installation projects in Grade A office buildings, sports venues, hotels and hospitals. Coupled with factors such as the robust recovery of the tourism industry, overall gas sales volume in Hong Kong remained stable during the period. At the same time, the Group is steadily advancing the commercialisation of hydrogen energy through projects in construction sites and charging stations. This development is expected to become a new driver of profit growth for the Group.

Regarding the mainland utility businesses, despite challenges from tariff issues, economic conditions and a mild winter in North China, city-gas sales remained stable. Through cost pass-through efforts, refined management and close partnerships with upstream suppliers, profits from the gas business remained stable, with the city-gas dollar margin increased by RMB0.04 per cubic metre to RMB0.54 per cubic metre.

In terms of renewable energy businesses, Towngas Smart Energy Company Limited, a subsidiary of the Group, recorded growth in its core operating profit to HK$719 million, up 2%. As at 30 June 2025, the Group’s cumulative grid-connected photovoltaic capacity reached 2.6 GW, with a cumulative commercial and industrial energy storage grid-connected capacity totalling 260 MWh. The Group continued to promote its integrated “photovoltaic + energy storage + electricity sales” carbon-reducing business model, further enhancing its profitability.

The green methanol business achieved several breakthroughs during the period, including the establishment of VENEX in a joint venture with Foran Energy, with plans to set up a production facility in Foshan, initially with an annual production capacity of 200,000 tonnes, expected to commence production in the second half of 2027. The Group is forming strategic partnerships with the HKSAR Government and industry partners in green methanol production, storage, bunkering and trading. These activities support Hong Kong’s development as a green maritime fuel hub.

Sustainable aviation fuel (SAF) is seeing widespread market potential. The Group is working with the HKSAR Government and other relevant organisations to meet future SAF demand both in Hong Kong and its surrounding regions. The Group is also pursuing global market expansion, underscored by a multi-year SAF supply agreement signed with British Airways in the first half of the year. The production plant in Malaysia is expected to commence production by the end of this year, with a total annual production capacity exceeding 400,000 tonnes.

The extended business segment completed the integration of its Hong Kong and mainland operations. At the same time, capitalising on the needs of the Group’s 45 million customers, a “trade-in” policy, the optimisation of its service offerings, and the collaborations with kitchen appliance brands and insurance companies to introduce innovative products, such as smart kitchen solutions as well as home safety and health insurance, the segment achieved significant growth and gained market recognition. The Group successfully secured US$45 million in financing for the segment, steadily advancing and delivering on its strategic objectives.

During the first half of the year, global economic growth remained constrained by geopolitical tensions. The Group responded proactively with the accelerated restructuring of its core businesses, enhancing quality and efficiency. Building on its solid foundations in the utility businesses, the Group has successfully established a long-term growth business portfolio, advancing the achievement of its sustainability objectives.

The Group maintained an interim dividend at HK12 cents per share.

For details of the results, please refer to the 2025 Interim Results Announcement published on the Company’s website at www.towngas.com and the HKEXnews website at www.hkexnews.hk.

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Press photos:

Photo 1:

Three Executive Directors of Towngas: Managing Director Mr Peter Wong Wai-yee (centre), Chief Financial Officer Mr Edmund Yeung Lui-ming (left), and Chief Investment Officer Mr Alan Chan Ying-lung (right) host the 2025 Interim Results Announcement Press Conference.

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