12月1日，中国燃气（00384.HK）低开3.49%后，持续低迷震荡，盘中最大跌幅近6%。股价下跌主要因为公司公布的上半财年的营收和净利润均 出现下降，盈利能力的弱化仍引发市场担忧。 中国燃气营收和利润双降 近日，中国燃气发布截至2025年9月30日止6个月的中期业绩。报告期内，公司营收为344.81亿港元，同比减少1.8%；毛利为55.06亿港元，同比 下降6.0%；归母净利润为13.34亿港元，同比下降24.2%。 近日，部分港股公用事业板块公司在业绩公布后，引发股价出现明显下跌。 该业绩发布后，中国水务11月28日的股价跌近4%，12月1日的股价有所企稳。 中国燃气是中国最大的跨区域综合能源供应及服务企业之一，通过二十余年的发展，中国燃气成功构建了以管道天然气业务为主导，液化石油 气、液化天然气、智慧能源服务、燃气设备及厨房用具、网格私域"店商"新零售并举的全业态发展结构。 在管理层讨论与分析中，中国燃气表示，国内燃气行业在政策支持与市场挑战并存的环境下迎来深刻变革，集团主动参与国家推进城镇燃气管 道更新改造的基础建设工作，同时积极推动深化天然气价格机制改革，持续助力完善居民气价联动机制，夯实非居民气 ...

Core Viewpoint - The 29th World Gas Conference highlighted the importance of natural gas as a "bridge energy" in the transition to a green and low-carbon economy, with China Gas Holdings Limited focusing on technological innovation and the shift towards renewable energy [2][3]. Group 1: Company Strategy and Operations - China Gas has established a comprehensive energy service model, primarily focusing on pipeline natural gas, while also engaging in LNG, LPG, smart energy services, electricity, and renewable energy [3]. - The company has actively participated in the "coal-to-gas" initiative to combat air pollution, completing over 8 million rural gas conversions across several provinces by the end of 2024 [3]. - China Gas has developed the first domestic small propane storage gas supply system based on inherent safety and digital operation management, holding numerous patents [3][4]. Group 2: Technological Innovation and Development - The company is positioning itself as a "green city operator," emphasizing the development of electricity and renewable energy to facilitate energy transition and multi-energy collaboration [4]. - China Gas is focusing on low-carbon and efficient energy solutions through the integration of various energy sources and advanced digital technologies for energy management [4]. Group 3: Industry Engagement and Future Outlook - Participation in the World Gas Conference allowed China Gas to showcase its innovative business achievements and establish partnerships, signaling its commitment to energy transition and low-carbon services [5]. - The conference, held in Beijing for the first time since its inception in 1931, attracted over 3,000 representatives and is seen as a significant event for the global gas industry [5].