CHINA GAS HOLD (00384) announced its financial results for the six months ended September 30, 2025, reporting revenue of HK$34.481 billion and a profit attributable to shareholders of HK$1.334 billion. Basic earnings per share stood at 24.73 HK cents, with an interim dividend of 15.0 HK cents per share declared. Free cash flow reached HK$2.605 billion, marking a 17.2% year-on-year increase.
Amid evolving market conditions, the group adhered to its core operational philosophy of "digital intelligence-driven strategic restructuring, strengthening competitive advantages, and ushering in a new era of technological transformation." During the first half of the fiscal year, the company maintained stable and orderly safety operations, capitalized on policy opportunities in the gas business, explored user demand, and promoted product innovation and new business development in value-added services. The liquefied petroleum gas (LPG) business expanded rapidly, while trade model innovations achieved breakthroughs.
Energy storage, electricity sales, and biomass businesses diversified and gradually expanded into overseas markets, laying the foundation for integrated energy development. The group deepened organizational reforms at a strategic level, accelerating digital and AI-driven transformation across business scenarios. During the period, the group followed a prudent investment approach, adding no new urban pipeline gas projects.
As of September 30, 2025, the group held 662 exclusive pipeline gas projects across 30 provinces, municipalities, and autonomous regions, along with 32 long-distance natural gas pipelines, 485 compressed/liquefied natural gas vehicle and marine refueling stations, one coalbed methane development project, and 120 LPG distribution projects.
Natural gas sales totaled 17.41 billion cubic meters, up 1.7% year-on-year, with 9.19 billion cubic meters sold via urban and rural pipelines and 8.22 billion cubic meters through trade and direct supply pipelines, a 5.4% increase.
To align with global energy transition and China's "dual-carbon" goals, the group achieved breakthroughs in diversified sectors such as combined heat and power (CHP), battery cells, lithium carbonate, and biomass co-firing, creating new growth drivers. The company also positioned itself as a pioneer in China's modern energy system development.
During the period, newly operational energy storage projects for industrial and commercial users reached 410.6 MWh, bringing cumulative operational capacity to 617.7 MWh and signed capacity to 1.2 GWh. Cumulative photovoltaic project installations reached 70.8 MW, while electricity sales under power distribution services hit 3.6 billion kWh.