China Gas Holdings: Profit falls despite higher free cash flow

For the six months ended September 30, 2025, China Gas Holdings reported a turnover of HK$34.48bn, a 1.8% year-on-year decrease. Gross profit also declined by 6.0% to HK$5.51bn, with the overall gross profit margin at 16.0%. Profit attributable to owners of the Company saw a 24.2% decrease, reaching HK$1.33bn, resulting in basic earnings per share of HK24.73 cents, down 24.4%.

Despite the profit dip, the company generated HK$2.60bn in free cash flow, an increase of 17.2% year-on-year, attributed to effective capital expenditure control and accelerated accounts receivable collection. Finance costs decreased slightly by 0.3% to HK$825.99m. Total assets grew to HK$152.24bn from HK$148.22bn as of March 31, 2025.

Operationally, total natural gas sales volume increased by 1.7% to 17.41 billion m³, although sales through city and township pipelines decreased by 1.5%. The Group proposed an interim dividend of HK15.0 cents per share.