Zhi Tong Cai Jing·2025-08-28 09:36Core Viewpoint - China Resources Gas (01193) reported a decline in revenue and profit for the first half of 2025, indicating challenges in the natural gas market and a need for strategic adjustments to enhance growth and profitability [1] Financial Performance - Revenue for the first half of 2025 was HKD 49.785 billion, a decrease of 4.4% year-on-year [1] - Profit attributable to shareholders was HKD 2.403 billion, down 30.5% year-on-year [1] - Basic earnings per share were HKD 1.05, with an interim dividend proposed at HKD 0.30 per share [1] Gas Supply and Sales - The group enhanced its gas sourcing capabilities, achieving a sourcing scale exceeding 3.5 billion cubic meters, a 100% increase year-on-year [1] - Total natural gas sales reached 20.76 billion cubic meters, with industrial sales at 9.45 billion cubic meters (down 2.2%, 45.5% of total sales), commercial sales at 4.88 billion cubic meters (down 2.6%, 23.5% of total sales), and residential sales at 6.00 billion cubic meters (up 4.2%, 28.9% of total sales) [1] User Development - The group developed 831,000 new residential users in the first half of 2025, including 667,000 new connections for new homes and 164,000 for existing homes [1] Comprehensive Services - Revenue from comprehensive services was HKD 1.45 billion, a decline of 18.1% year-on-year, with segment profit down 22.6% to HKD 590 million [1] - The group believes that comprehensive services have significant growth potential and will remain an important part of its business [1]