Core Viewpoint - China Resources Gas (01193) announced the appointment of Liu Haiyan as an executive director, effective from September 15, 2025 [1] Company Summary - Liu Haiyan has been appointed as an executive director of China Resources Gas [1]

Core Viewpoint - China Resources Gas (01193.HK) announced the appointment of Liu Haiyan as an executive director, effective from September 15, 2025 [1] Company Summary - Liu Haiyan has been appointed as an executive director of China Resources Gas [1]

楊平 （主席） 秦艷 （總裁） 劉海燕 非執行董事 葛路 李巍巍 （於百慕達註冊成立之有限公司） （股份代號：1193） 董事名單與其角色和職能 華潤燃氣控股有限公司董事（「董事」）會（「董事會」）成員載列如下： 執行董事 1 董事會設立4個委員會。下表提供各董事會成員在這些委員會中所擔任的職位。 | 董事 | 委員會 | | | | | --- | --- | --- | --- | --- | | | 審核與風險管 | | | 環境、社會及 | | | 理委員會 薪酬委員會 | | 提名委員會 | 管治委員會 | | 楊平 | | | C | C | | 秦艷 | | | | | | 劉海燕 | | | | | | 葛路 | | | M | | | 李巍巍 | | | | M | | 張軍政 | | M | | | | 房昕 | M | | | | | 黃得勝 | M | C | M | M | | 俞漢度 | C | M | M | | | 楊玉川 | M | | M | M | | 李博恩 | | M | | M | 附註： C 有關委員會的主席 M 有關委員會的成員 張軍政 房昕 獨立非執行董事 黃 ...

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。 除本公告所披露者外，劉先生確認(i)過往三年並無在香港或海外其他上市公司擔 任任何董事職務；(ii)並無於本公司及本集團其他成員公司中擔任任何其他職務； (iii)與本公司任何董事、高級管理層或主要股東或控股股東（定義見香港聯合交易 所有限公司（「聯交所」）證券上市規則（「上市規則」））並無任何關係；及(iv)並無 任何其他重要委任或專業資格。 （於百慕達註冊成立之有限公司） （股份代號：1193） 執行董事之委任 華潤燃氣控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董 事」）會（「董事會」）謹此宣佈，劉海燕先生（「劉先生」）獲委任為執行董事，自二 零二五年九月十五日起生效。 以下是劉先生的履歷詳情： 劉海燕先生，現年四十一歲，於二零二五年九月十五日獲委任為本公司執行董 事。劉先生於二零一五年十月至二零二五年八月任華潤（集團）有限公司（「華潤集 團」）董事會事務高級經理、公司治理總監、 ...

FOR THE INTERIM DIVIDEND FOR THE SIX MONTHS ENDED 30 JUNE 2025 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION 此乃要件 請即處理 If you are in any doubt as to any aspect of this document or as to the action to be taken, you should consult your stockbroker or other registered dealer in securities, bank manager, solicitor, professional accountant or other professional adviser. 閣下如對本文件任何內容或應採取之行動有任何疑問，應諮詢 閣下之股票經紀或其他註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 (Incorporated in the Bermuda with limited liability) （於百慕 ...

Core Viewpoint - Morgan Stanley's research report indicates that China Resources Gas has significantly underperformed the market in the past year, with expectations that the stock price may stabilize, but no key operational indicators have been observed to drive price increases [1] Summary by Category Financial Performance - The company's urban gas business profitability is likely to remain under pressure due to limited sales growth and gross margin expansion potential, alongside a continued decline in new connection volumes [1] - Overall profitability may record a year-on-year decline in single digits, with low visibility for growth projected until 2026 [1] Business Segments - The comprehensive service business is expected to recover to positive growth in the second half of the year due to a low base effect, but this may not significantly impact overall profitability [1] Forecast Adjustments - Earnings forecasts for 2025 to 2027 have been revised down by 3% to 4%, with the target price slightly increased from HKD 18.5 to HKD 19, while maintaining a "neutral" rating [1]

Core Viewpoint - Morgan Stanley reports that China Resources Gas (01193) significantly underperformed the market in the past year, indicating that while the stock price may stabilize, there are no observed key operational indicators that could drive the stock price upward [1] Summary by Category Financial Performance - The company's urban gas business profitability is likely to remain under pressure due to limited sales growth and gross margin expansion potential, alongside a continued decline in new connection volumes [1] - Overall profitability is expected to record a year-on-year decline in single digits, with low visibility for growth in 2026 [1] Forecast Adjustments - The firm has lowered its earnings forecasts for 2025 to 2027 by 3% to 4% [1] - The target price has been slightly increased from HKD 18.5 to HKD 19, while maintaining a "Neutral" rating [1] Business Segments - The comprehensive service business is anticipated to recover to positive growth in the second half of the year due to a low base effect [1]

Group 1 - The core viewpoint of the article indicates that China Resources Gas (01193) significantly underperformed the market in the past year, and while the stock price may stabilize, there are no observed key operational indicators that could drive the stock price upward [1] - The urban gas business is expected to face continued profit pressure due to limited sales growth and gross margin expansion potential, along with a decline in new connection volumes [1] - Although the comprehensive service business may see a recovery in positive growth in the second half of the year due to a low base, the overall profitability of the company is likely to record a year-on-year decline in single digits [1] Group 2 - The earnings visibility for 2026 remains low, prompting a downward revision of the profit forecast for 2025 to 2027 by 3% to 4% [1] - The target price for the stock has been slightly raised from HKD 18.5 to HKD 19, while maintaining a "neutral" rating [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Views - The company's performance is under short-term pressure, but dividend and share buyback plans demonstrate confidence [6] - The company reported a decrease in retail gas volume and net profit in H1 2025, influenced by various external factors [8] - The company is optimizing its gas supply system and diversifying its resource procurement to improve cost efficiency [8] - The gas connection business is under pressure due to the real estate sector's downturn, but the overall business structure is improving [8] - The comprehensive service business is facing short-term challenges, while the comprehensive energy segment continues to grow [8] - Financial costs have improved significantly, and the company is committed to maintaining dividends [8] Financial Performance Summary - For H1 2025, the company achieved revenue of 49.785 billion HKD, a decrease of 4.4% year-on-year, and a net profit of 2.403 billion HKD, down 30.5% year-on-year [8] - The company plans to distribute a mid-year dividend of 0.30 HKD per share, a 20% increase year-on-year [8] - The company's revenue and profit from gas sales accounted for 90.80% and 73.69% of total revenue and profit, respectively [8] - The company expects net profits for 2025-2027 to be 4.201 billion, 4.807 billion, and 5.273 billion HKD, with corresponding growth rates of 2.76%, 14.43%, and 9.70% [8][9]

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: 2025年8月31日 狀態: 新提交 | 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) | 01193 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 | HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 致：香港交易 ...