Financial Performance - The total revenue for the year ended December 31, 2025, was HKD 15,158,592, a decrease of 14.2% from HKD 17,655,191 in 2024[4] - Gross profit for the same period was HKD 2,061,693, down 5.6% from HKD 2,183,593 in 2024[4] - Operating profit decreased to HKD 1,173,797, a decline of 13.4% compared to HKD 1,355,706 in 2024[4] - Net profit for the year was HKD 624,467, representing a decrease of 10.9% from HKD 701,162 in 2024[4] - The company's basic earnings per share for the year was HKD 1.6, down from HKD 3.5 in 2024[5] - The group reported a net profit of HKD 624,467 for the year 2025, down from HKD 701,162 in 2024, indicating a decline of 10.9%[20][21] - The overall gross profit was HKD 2.062 billion, down 5.6% from HKD 2.184 billion in the previous year[42] Assets and Liabilities - Total assets increased to HKD 22,072,818, up from HKD 20,696,082 in 2024, reflecting a growth of 6.6%[6] - Total liabilities rose to HKD 14,314,665, an increase of 6.1% from HKD 13,484,495 in 2024[7] - The total debt amounted to HKD 92.95 billion as of December 31, 2025, compared to HKD 85.42 billion in 2024[44] - The net debt to asset ratio was 19.1% as of December 31, 2025, slightly improved from 20.3% in 2024[44] Equity and Share Capital - The company's equity attributable to owners increased to HKD 4,024,483, up from HKD 3,657,182 in 2024, marking a growth of 10.1%[7] - As of December 31, 2025, the company's issued share capital was HKD 56,368,038.34, divided into 5,636,803,834 shares with a par value of HKD 0.01 each[58] Revenue Sources - Sales and transportation of natural gas and related products generated revenue of HKD 12,796,680, down from HKD 14,021,865 in the previous year, representing a decline of 8.7%[14][21] - The segment performance for the sales and transportation of natural gas showed a profit of HKD 1,463,551, compared to HKD 1,522,123 in 2024, reflecting a decrease of 3.8%[20][21] Employee and Operational Costs - Employee benefits expenses increased to HKD 560,421 in 2025 from HKD 534,445 in 2024, marking a rise of 4.9%[22] - Administrative expenses increased by 2.9% to HKD 570 million, with the ratio to revenue rising to 3.8% from 3.1% in the previous year[43] Strategic Initiatives - The group aims to enhance its core business and expand into comprehensive energy services, targeting significant growth in integrated energy business performance[42] - A strategic cooperation framework agreement was signed with Yonyou Network Technology Co., Ltd. to leverage AI and IoT technologies for smart solutions in energy and operations[45][46] - The group plans to optimize upstream resource development in Canada and strengthen downstream gas core business operations[42] Compliance and Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all relevant provisions, except for the noted deviations[66] - The audit committee, consisting of three independent non-executive directors, has reviewed the audited financial statements for the year ending December 31, 2025, and confirmed compliance with applicable accounting standards and legal requirements[68] - The independent auditor, KPMG, has agreed that the financial figures in the performance announcement align with the audited financial statements for the year ending December 31, 2025[69] Market and Customer Insights - The group did not have any external customers contributing over 10% to its revenue for the years ending December 31, 2025, and 2024[21] - The company reported a 7.1% decline in natural gas sales and transportation volume, with total sales recorded at 4.2666 billion cubic meters, down from 4.584 billion cubic meters in the previous year[36] - The company added 66,266 new residential users, bringing the total to 2,194,546, while 1,176 new commercial users were added, totaling 20,695[37] Debt and Financing - The group has issued USD 300 million of 7.0% senior notes due in 2029, with an issue price of 99.337% of the principal amount[61] - The group repurchased USD 39 million of 4.7% senior notes due in 2026 from the open market[59] - The group has no significant contingent liabilities as of December 31, 2025[55] Other Notable Points - The group has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the year[48] - The group has no involvement in any significant litigation as of December 31, 2025[57] - The group is focused on digital transformation and risk management to enhance operational efficiency and compliance[41]

（股份代號：603） 董事局會議通告 中油燃氣集團有限公司（「公司」）董事（「董事」）局（「董事局」）謹此宣 佈，將於二零二六年三月二十七日（星期五）舉行董事局會議，以考慮及批准（其 中包括）公司及其附屬公司截至二零二五年十二月三十一日止年度之經審核全年 業績及建議派發末期股息（如有）。 承董事局命 中油燃氣集團有限公司 公司秘書 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 陳婉縈 香港，二零二六年三月十七日 於本公告日期，董事局包括四名執行董事，分別為許鉄良先生（主席及行政總 裁）、關懿君女士、高發連先生及許然女士；及三名獨立非執行董事，分別為劉 志紅女士、王廣田先生及楊杰先生。 *僅供識別 ...

Report Industry Investment Rating - There is no information about the report industry investment rating in the provided content. Core Viewpoints of the Report - The geopolitical tensions persist, and concerns about inflation have led to a decline in US Treasuries. The yields of 10 - year and 2 - year US Treasuries have risen significantly, with the 2 - year yield rising more, reflecting concerns about limited Fed rate - cut space due to rising inflation expectations. The situation's uncertainty remains high, and the duration of the Holmuiz Strait's navigation restrictions is crucial [1][2]. - Affected by the sharp rise in US Treasury yields, Chinese - funded US dollar bonds have declined for two consecutive weeks, with the Bloomberg Barclays Chinese - funded US dollar bond total return index falling 0.5% last week [1][3]. - In the on - shore market, the yields of 3 - year and 10 - year government bonds have risen. Factors such as improved inflation expectations, good industrial production and export performance, improved fixed investment data, and reduced expectations of future monetary policy easing have jointly promoted the rise in government bond yields. However, overall, monetary policy will remain supportive, and there is no basis for a continuous rise in interest - rate bond yields [1][4]. Summary According to Relevant Catalogs Off - shore Market - There were 3 new issuances of Chinese - funded US dollar bonds exceeding $100 million last week, totaling $1.45 billion, mainly financial bonds; about 17.5 billion RMB of off - shore RMB bonds were newly issued, also mainly financial bonds [2]. - The yields of 10 - year and 2 - year US Treasuries rose 14 and 16 basis points respectively to 4.28% and 3.72% last week, mainly due to market concerns about potential inflation problems caused by the continuous high oil price [1][2]. - Key - term US Treasuries have fully reversed all their gains this year. The yields of 10 - year and 2 - year US Treasuries have risen 11 and 24 basis points respectively compared to the end of 2025 [1][2]. - Affected by the sharp rise in US Treasury yields, Chinese - funded US dollar bonds have declined for two consecutive weeks. The Bloomberg Barclays Chinese - funded US dollar bond total return index fell 0.5% last week, and the spread narrowed by 2 basis points. Among them, the high - rating index fell 0.5%, and the spread narrowed by 3 basis points; the high - yield index fell 0.4%, and the spread widened by 3 basis points [1][3]. On - shore Market - The People's Bank of China net - withdrew 10.11 billion RMB of short - term liquidity through reverse repurchase operations last week, and inter - bank funding rates rebounded. The weighted average interest rates of 7 - day deposit - type institutional pledged repurchase and 7 - day inter - bank pledged repurchase rose 5 and 1 basis points respectively to 1.46% and 1.50% [4]. - The yields of 3 - year and 10 - year government bonds rose 1 and 3 basis points respectively to 1.37% and 1.81% last week [4]. - February's inflation data showed improved price pressure, and the continuous geopolitical tensions pushed up oil prices, improving market expectations of subsequent inflation. The macro data from January to February showed good industrial production and export performance, improved fixed investment data, and although retail data was still weak, it was better than market expectations. Coupled with the guidance of the People's Bank of China, market expectations of future monetary policy easing have weakened, jointly promoting the rise in government bond yields. However, overall, monetary policy will remain supportive, and there is no basis for a continuous rise in interest - rate bond yields [4]. Recent Newly Issued Chinese - funded US Dollar Bonds - Beijing Construction Engineering (Hong Kong) Co., Ltd. issued bonds with a coupon rate of 4.10%, an issue amount of $300 million, and a maturity date of March 19, 2029 [5]. Appendix: List of Chinese - funded US Dollar Bonds - The appendix provides a detailed list of various Chinese - funded US dollar bonds, including information such as the issuer, guarantor, coupon rate, issue amount, maturity date, and ratings from Moody's, S&P, and Fitch [17][19][21].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中油燃氣集團有限公司 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00603 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 125,000,000,000 | HKD | | 0.01 HKD | | 1,250,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 125,000,000,000 | HKD | | 0.01 HKD | | 1,250,000,000 | 本月底法定/註冊股本總額： HKD ...

本公告僅供參考，並不構成邀請或引誘收購、購買或認購證券之要約，或邀請訂立協議進行 任何有關事宜，亦無意招攬任何要約以收購、購買或認購任何證券。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 本公告並非在美國或任何國家或司法權區提呈出售證券的建議或招攬提呈購買證券的建議（倘 未有根據該國家或司法權區的證券法例登記或獲得資格於當地進行該提呈、招攬或出售即屬 違法）。本公告所述證券並無亦不會根據一九三三年美國證券法（經修訂）（「證券法」）登記， 本公告所述證券亦不可在美國提呈發售或出售，惟根據證券法及任何適用之州份或地方證券 法登記規定獲豁免或進行不受限於該等登記規定之交易除外。凡在美國公開發售證券，均須 基於發售章程進行。該發售章程將載有關於作出發售的公司及其管理層以及財務報表的詳盡 資料。本公司不會且不擬在美國登記任何票據。 * （於百慕達註冊成立之有限公司） （股份代號：603） 以現金要約購買 其未償還於二零二六年到期之4.7厘優先票據 （ISI ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因倚賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成邀請或引誘收購、購買或認購證券之要約，或邀請訂立協議進行 任何有關事宜，亦無意招攬任何要約以收購、購買或認購任何證券。 本公告並非在美國或任何國家或司法權區提呈出售證券的建議或招攬提呈購買證券的建議（倘 未有根據該國家或司法權區的證券法例登記或獲得資格於當地進行該提呈、招攬或出售即屬 違法）。本公告所述證券並無亦不會根據一九三三年美國證券法（經修訂）（「證券法」）登記， 本公告所述證券亦不可在美國提呈發售或出售，惟根據證券法及任何適用之州份或地方證券 法登記規定獲豁免或進行不受限於該等登記規定之交易除外。凡在美國公開發售證券，均須 基於發售章程進行。該發售章程將載有關於作出發售的公司及其管理層以及財務報表的詳盡 資料。本公司不會且不擬在美國登記任何票據。 * （於百慕達註冊成立之有限公司） （股份代號：603） 以現金要約購買 其多達最高接納金額的未償還於二零二六年到期之4.7厘 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中油燃氣集團有限公司 呈交日期: 2026年2月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00603 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 125,000,000,000 | HKD | | 0.01 HKD | | 1,250,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 125,000,000,000 | HKD | | 0.01 HKD | | 1,250,000,000 | 本月底法定/註冊股本總額： HKD ...

Core Viewpoint - The company, China Oil and Gas (00603), has entered into a purchase agreement with HSBC, Morgan Stanley, and UBS for the issuance of $300 million in 7.0% senior notes maturing in 2029, with the net proceeds intended for a simultaneous tender offer and general corporate purposes [1] Group 1 - The company plans to issue senior notes totaling $300 million [1] - The senior notes will have a maturity date of 2029 [1] - The interest rate for the senior notes is set at 7.0% [1] Group 2 - The net proceeds from the issuance will be used for a simultaneous tender offer [1] - The remaining funds will be allocated for general corporate purposes [1]

Core Viewpoint - China Oil and Gas (00603) has entered into a purchase agreement with HSBC, Morgan Stanley, and UBS for the issuance of $300 million in 7.0% senior notes due in 2029, with the net proceeds intended for a concurrent tender offer and general corporate purposes [1] Group 1 - The company plans to issue senior notes totaling $300 million [1] - The interest rate for the senior notes is set at 7.0% [1] - The maturity date for the notes is January 27, 2029 [1] Group 2 - The net proceeds from the issuance will be used for a concurrent tender offer [1] - The funds will also be allocated for general corporate purposes [1]

Core Viewpoint - The company, China Oil and Gas (00603.HK), announced the issuance of $300 million senior notes maturing in 2029, with the net proceeds intended for a concurrent tender offer and general corporate purposes [1]. Group 1 - The company has entered into a purchase agreement with HSBC, Morgan Stanley, and UBS for the issuance of the notes [1]. - The notes are set to mature on January 27, 2029 [1]. - The net proceeds from the issuance will be used for a concurrent tender offer and general corporate purposes [1].