China Gas Industry Investment (1940.HK) reports slight profit increase

China Gas Industry Investment Holdings Ltd (HKEX: 1940) announced its annual results for the year ended December 31, 2024, reporting a slight increase in net profits despite a revenue decrease. Revenue fell by 11.91% year-over-year to RMB 1,313.61 million, while net profits edged up by 1.54% to RMB 130.05 million. Gross profit decreased by 5.07% to RMB 315.25 million. Basic and diluted earnings per share remained consistent at RMB 0.11. The company's gearing ratio improved to 28.2% from 35.5% the previous year. The board did not recommend a final dividend. Key segments' revenues included RMB 961.50 million from pipeline industrial gas and RMB 113.16 million from liquefied industrial gas. The company cited competition and fluctuating steel prices as factors impacting its performance.