China Resources Gas Group ( (CRGGF) ) has released its Q4 earnings. Here is a breakdown of the information China Resources Gas Group presented to its investors.
China Resources Gas Group Limited (CR Gas) is a leading provider in the natural gas industry, focusing on the sale and distribution of gas fuel, gas connection services, and comprehensive energy solutions across China. The company is known for its commitment to sustainable development and innovation in the energy sector.
In its latest earnings report for the year ended December 31, 2024, CR Gas reported a modest revenue increase of 1.4% to HK$102.68 billion, with a slight rise in core profit. Despite a challenging global economic environment, the company achieved a 2.9% increase in gross gas sales volume, reflecting its strategic focus on enhancing operational efficiency and expanding its market presence.
Key financial highlights include a core profit of HK$4.15 billion, nearly unchanged from the previous year, and a 21.7% decrease in profit attributable to owners, primarily due to reduced gains from associates and joint ventures. The company also announced a final dividend of 70 HK cents per share, reflecting a commitment to shareholder returns despite the dip in overall profitability.
Looking ahead, CR Gas remains optimistic about its growth prospects, driven by China’s ongoing transition towards a low-carbon economy and increased demand for natural gas. The company plans to continue its strategic focus on expanding its core business, enhancing comprehensive energy services, and leveraging its strong brand to capture new market opportunities.
Overall, CR Gas’s financial performance underscores its resilience and strategic positioning in the evolving energy landscape, with a focus on sustainable growth and value creation for its stakeholders.