HK & CHINA GAS (00003) reported its full-year results for 2025. The group achieved revenue of HK$54.326 billion, representing a decrease of 2.07% compared to the previous year. Profit attributable to shareholders was HK$5.688 billion, a slight decline of 0.42%. Basic earnings per share were 30.5 HK cents, and the board proposed a final dividend of 23 HK cents per share.
Throughout 2025, the company focused on enhancing quality and efficiency, advancing business restructuring, and introducing strategic investors. These efforts were aimed at promoting the development of its diversified energy business and establishing a more robust operational structure. Post-tax operating profit and core business profit for the year were HK$7.5 billion and HK$6.0 billion, respectively, rising by 2% and 4%. After accounting for non-operating items and property revaluation changes, profit attributable to shareholders was HK$5.7 billion, remaining stable compared to the previous year.
In its Hong Kong utilities segment, the company provided gas and energy management solutions for mainland Chinese catering brands expanding into the Hong Kong market, as well as for emerging food and beverage operators. Additionally, the adoption of high-efficiency, energy-saving gas dehumidification systems in hotels, hospitals, and major public facilities contributed to maintaining stable overall gas sales volume. Furthermore, the 15th National Games golf tournament featured the first integrated hydrogen power generator in Hong Kong, supplying green electricity for the venue. The company developed multiple hydrogen application scenarios during the year, including construction site power generation and automated hydrogen charging systems for electric vehicles.
Regarding its mainland China utilities business, the company actively promoted the use of natural gas in industrial and commercial markets and facilitated the conversion of old communities to pipeline natural gas. Gas sales volume reached 36.35 billion cubic meters, remaining steady. The year also saw the implementation of residential user price adjustments, leading to an increase in the comprehensive city gas price spread by 0.02 yuan to 0.54 yuan per cubic meter.
The sustainable aviation fuel (SAF) sector experienced rapid development. With the successful commencement of operations at a new plant in Malaysia at the end of 2025, the total annual renewable fuel production capacity of EcoCeres increased from 350,000 tonnes to 770,000 tonnes. The company is actively supporting the Hong Kong Special Administrative Region government's strategic deployment for green energy and is fully committed to fostering the development of an SAF industrial chain within the Guangdong-Hong Kong-Macao Greater Bay Area.