Towngas Smart Energy sees profit rise in first half 2025

Towngas Smart Energy Company Limited's unaudited results for the first half of 2025 show a core operating profit increase of 2% to HK$719 million, with profit attributable to shareholders rising 2% to HK$758 million. Revenue for the period was HK$10,437 million, a slight decrease of 1% from the previous year. Basic earnings per share decreased by 1% to HK21.8 cents, while the interim dividend declared is HK5 cents per share.

The company's gas sales volume remained stable at 8,746 million cubic metres, and its city-gas customer base expanded by 380,000 to 18.02 million. The renewable energy segment recorded a net profit of approximately HK$172 million, up 5% year-on-year. Total photovoltaic grid connection reached 2.6 GW, an increase of 0.3 GW since the end of 2024. The Group's gearing ratio remained at 36%.

The Group also successfully issued the "Zero Carbon Smart Phase 2" quasi-REIT product, raising RMB1 billion over two phases to enhance cash flow. Total operating expenses increased by 1% to HK$9,626 million. Finance costs decreased by 8% to HK$331 million due to stringent capital expenditure control and securing low-interest loans.