Jiaxing Gas (09908) announced its interim results for 2025, reporting revenue of RMB 1.4615 billion, a decrease of 3.63% year-on-year. Profit attributable to company owners reached RMB 75.3 million, declining 15.49% compared to the same period last year. Basic earnings per share stood at RMB 0.55, with an interim dividend of RMB 0.15 per share.

During the period, the group achieved total gas sales volume of 392 million cubic meters, down 3.45% from the first half of 2024, primarily due to reduced user demand resulting from capacity adjustments by major customers. Despite the year-on-year decline in gas volume, the company maintained steady growth in developing new commercial and industrial users, continuously building momentum for the group's future development.

According to the announcement, the revenue decrease was mainly attributed to reduced gas consumption demand from capacity adjustments by major customers and a slight decline in natural gas unit selling prices. The decrease in net profit was primarily due to a RMB 31.6 million reduction in share of profits from associates and joint ventures compared to the first half of 2024, representing a 65.15% decline. This was mainly because the improvement in international natural gas supply-demand tensions led to lower price volatility ranges, preventing Hangjiaxin from maintaining gross profit levels similar to the first half of 2024, when it benefited from relatively lower procurement prices under long-term LNG purchase agreements signed with suppliers during that period.