JIAXING GAS (09908) announces its interim results, with a net profit attributable to owners of the company of 75.30 million yuan, a decrease of 15.49% year-on-year.

JIAXING GAS (09908) announced its mid-term performance for 2025, with revenue of RMB 1.4615 billion, a decrease of 3.63% year-on-year. The company's attributable net profit was RMB 75.30 million, a decrease of 15.49% year-on-year. Basic earnings per share were RMB 0.55, with a mid-term dividend of RMB 0.15 per share. During the period, the total gas sales volume of the group reached 392 million cubic meters, a decrease of 3.45% compared to the first half of 2024, mainly due to the adjustment of production capacity by large users leading to a decrease in demand. Despite the year-on-year decrease in gas volume, the company has continued to see steady growth in the development of new commercial and industrial users, providing momentum for the group's future development. The announcement stated that the decrease in revenue was mainly due to the reduced gas demand caused by the adjustment of production capacity by large users and a slight decrease in the selling price of natural gas. The decrease in net profit was primarily due to a decrease in profit from associated companies and joint ventures by RMB 31.60 million compared to the first half of 2024, a 65.15% decrease. This was mainly because the improved supply and demand situation in the international natural gas market led to a slight downward shift in price fluctuations, and Hangjiaxin was unable to maintain a similar level of gross profit as in the first half of 2024 due to the relatively low purchase price under the long-term liquefied natural gas procurement agreements signed with suppliers during the period.