Jiaxing Gas profit drops 15.5% in first half of 2025

Jiaxing Gas Group Co. announced a profit attributable to owners of RMB75.3 million for the six months ended June 30, 2025, a 15.49% decrease from RMB89.1 million in 1H2024. Total revenue for the period was RMB1,461.5 million, down 3.63% from RMB1,516.5 million in 1H2024, primarily due to reduced gas demand from major users and slightly lower natural gas sales prices. Gross profit also declined by 4.99% to RMB118.1 million. The total gas sales volume decreased by 3.45% to 392 million m³.

Despite the profit decline, the company saw an increase in other income and gains by 38.82% to RMB11.8 million, driven by higher amortized recognition of subsidies for gas facility upgrades and pipeline network reconstruction. Finance costs, however, increased by 20.31% to RMB7.7 million due to higher interest expense on borrowings. The effective tax rate for the period was 23.79%.

The Group’s liquidity stood at RMB1,038.5 million as of June 30, 2025, with cash and bank balances at RMB404.8 million. The gearing ratio increased to approximately 21.10% from 9.92% at year-end 2024. An interim dividend of RMB0.15 per ordinary share was declared for 2025, to be paid on October 10, 2025.