China Resources Gas profit declines 30.5% despite operational growth

For the first half of 2025, China Resources Gas reported revenue of HK$49.79 bn, a 4.4% decrease from HK$52.08 bn in the same period of 2024. Gross profit also fell by 11.9% to HK$8.52 bn, while profit attributable to owners of the company saw a more significant drop of 30.5% to HK$2.40 bn. Basic earnings per share decreased by 30.9% to HK cents 105. Despite the financial headwinds, the company’s operating cash flow remained robust at HK$3.01 bn, albeit a 29.3% decrease year-on-year.

Operationally, CR Gas expanded its city gas projects to 275 across 25 provinces, with total gas sales volume reaching 20.76 bn cubic meters. Residential gas sales volume increased by 4.2% to 6.00 bn cubic meters, and new residential users connected totaled 831 thousand. The group's total length of pipelines grew by 4.2% to 329,661 km.

The board declared an interim dividend of HK cents 30 per share for the current period, an increase from HK cents 25 per share in the first half of 2024. The group's total borrowings increased by 12.8% to HK$25.95 bn, with 70.5% classified as current liabilities.