China Gas Holdings Limited ( (CGHLY) ) has released its Q2 earnings. Here is a breakdown of the information China Gas Holdings Limited presented to its investors.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
China Gas Holdings Limited is one of China’s largest integrated energy suppliers, specializing in natural gas and liquefied petroleum gas (LPG) distribution. The company is involved in the construction and operation of gas pipelines, fueling stations, and storage facilities across China.
In its latest earnings report for the six months ended September 30, 2024, China Gas Holdings Limited reported a revenue of HK$35.1 billion, marking a 2.6% decrease from the previous year. Despite this, the company’s gross profit increased by 2.3% to HK$5.86 billion, with a net profit of HK$2.26 billion, reflecting a 7.4% rise.
Key highlights include a focus on safety management and maintaining a robust financial position with free cash flow amounting to HK$2.22 billion. The company also reported a slight reduction in earnings per share and a proposed interim dividend of HK15.0 cents per share. Additionally, China Gas continues to expand its LPG segment and value-added services, showing a 13.5% increase in LPG sales revenue.
Looking ahead, China Gas Holdings maintains a positive outlook, leveraging China’s economic policies aimed at stabilizing the market and boosting consumption. The company remains committed to enhancing its operational efficiency and safety measures to support sustained growth and shareholder returns.