Towngas Smart Energy Company Limited · HKEX:1083
Towngas Smart Energy — H1 2025 Earnings Presentation
31 slides from Towngas Smart Energy's earnings presentation, Aug 15, 2025
Slide 1: Towngas Smart Energy 2025 Interim Results
Towngas Smart Energy Company Limited (1083.HK) 2025 Interim Results 15 August 2025 1
Slide 2: 2025: Overall Operating Environment and Group Strategy
2025: Overall Operating Environment and Group Strategy Macro Environment Group Strategy Uncertainty in tariff policies disrupts Rising city gas dollar margin and industrial energy consumption reducing operating expenses Weak economy and slight decline in Expanding the gas resources pool PMI affect e
Slide 3: 1H2025: Business Highlights
1H2025: Business Highlights Gas Business Renewable Energy • Gas sales volume remained steady • Profits sustained steady growth, up 5% YoY • Dollar margin increased 0.01 RMB/m³ • Two tranches of quasi-REITs raised • Optimised the personnel structure and RMB1 billion reduced operating expenses • PV po
Slide 4: 1H2025: Business Operations Overview
1H2025: Business Operations Overview Gas Business Renewable Energy Gas Sales Volume: Accumulated PV Grid-connected: 8.75 billion m 3 Remains Steady 2.6 GW +0.3 GW Customers: Power Generation Volume: 18.02 million +0.38 million 1.18 billion kWh +44 % City Gas Dollar Margin: Electricity Trading Volume
Slide 5: Agenda
AGENDA Financial Highlights P. 6 Business Review ▪ Gas Business P. 10 ▪ Renewable Energy P. 18 ESG P. 25 Group Business Guidance P. 28 5
Slide 6: Financial Highlights
3 33 2S ER Towngas Smart Energy Financial Highlights
Slide 7: 2025 Interim Results
2025 Interim Results (RMB Exchange Rate: -1%) (Unit: HK$ million) 1H2024 1H2025 Changes (%) Revenue 10,501 10,437 -1 Operating Profit 1,024 1,024 - Gas Business Net Profit 860 852 -1 Renewable Energy Business Net Profit 164 172 +5 Corporate Financial Expenses (276) (264) +4 Core Operating Profit 707
Slide 8: Financial Position
Financial Position (Unit: HK$ billion) 31 Dec 2024 30 Jun 2025 Total Assets 53.0 55.2 Borrowings 17.3 18.2 Cash 2.7 3.3 Net Assets 25.8 26.6 Net Gearing Ratio* 36% 36% *Note: Net Debt / (Net Debt + Equity） Credit Rating: BBB+ Baa1 AAA 8 Towngas Smart Energy Limited | 2025 Interim Results
Slide 9: Capital Expenditure
Capital Expenditure (Unit: HK$ billion) 1H2024 1H2025 - Gas Business 0.8 0.7 - Renewable Energy Business 1.2 0.7 Capital Expenditure 2.0 1.4 9 Towngas Smart Energy Limited | 2025 Interim Results
Slide 10: Business Review
Business Review ▪ Gas Business ▪ Renewable Energy 10
Slide 11: Stable Gas Sales Volume
Stable Gas Sales Volume Gas Sales Volume (Unit: billion m3) • Warm winter & macro pressures cut PRC NG Remains Steady usage by 0.9% YoY in 1H2025 8.74 8.75 • Steady increase of the Group’s retail gas sales volume (Residential + Commercial + Industrial) Industrial 4.13 4.14 47% • Warm winter reduced
Slide 12: Steadily Rising Dollar Margin
Steadily Rising Dollar Margin Selling Price, Gas Cost and Dollar Margin • Dollar margin improved in 1H2025 (Unit: RMB/m3) 1H2024 1H2025 Changes Residential 2.75 2.77 +0.02 • Residential gas price increased Selling Commercial 3.65 3.60 -0.05 Price • Non-residential cost pass-through completed Industr
Slide 13: Connection Business Revenue
Connection Business Revenue National real estate market remained weak, new connections under pressure Number of household connections (Unit: thousands) • Affected by the weak real estate market, User Type 1H2024 1H2025 Changes (%) Residential 335 330 -1 new connections declined Industrial & Commerci
Slide 14: Improving Efficiency & Reducing Operating Expenses
Improving Efficiency & Reducing Operating Expenses Customer Service Efficiency Ratio (Unit: household/employee) • Optimised the personnel structure to increase 840 the customer service efficiency ratio 788 751 • Centralised operations & AI applications 718 amplified scale economies 684 652 • Operati
Slide 15: Market Expansion
Market Expansion • Deepening existing markets, advancing Jiangsu & Zhejiang Textile Industries Steam-to-gas Conversion gas-for-steam/electricity substitution • Secured 55 major clients in 1H2025, adding 200 million m³ annual volume • Gas+ business rapid growth, accelerated strategic deployment in em
Slide 16: Gas Supply Chain: Assurance of Gas Supply
Gas Supply Chain: Assurance of Gas Supply • Enhance gas supply security & cost efficiency management The Group’s total gas sales volume to sustain business growth reached 17.2 billion m³ in 2024 1 Signed a 15 billion m³ (1.5 billion m³/year) pipeline gas LTA with the “Three Majors” 2 Jincheng Caofei
Slide 17: Gas Supply Chain: Supporting The Expansion of City Gas Distribution
Gas Supply Chain: Supporting The Expansion of City Gas Distribution Steady Growth of Self-coordinating Gas Resource Volume 600 (Unit: billion m3) 60 Self-coordinating gas resource % • Group coordination target: 500 50 2025: ~6 billion m3 23% 2030: ~10 billion m3 400 40 17% 300 30 • Integrated ga
Slide 18: Business Review
Business Review ▪ Gas Business ▪ Renewable Energy 18
Slide 19: Sustained Growth in Profit
Sustained Growth in Profit Operational Data 1H2024 1H2025 Changes PV Grid-connected (GW) 2.1 2.6 +0.5 Power Generation Volume (billion kWh) 0.82 1.18 +44% Gross Margin per kWh (RMB/kWh) 0.30 0.26 -0.04 Financial Data (RMB million) BU Profit Contribution 223.2 230.1 +3% PV Business Net Profit 151.8 1
Slide 20: PV: Accelerating PV Grid Connection and Power Generation
PV: Accelerating PV Grid Connection and Power Generation PV Business Net Profit (Unit: RMB million) +11% The gross margin per kWh declined by 1 RMB0.04/kWh due to policy impacts 168.9 151.8 Achieved additional 280 MW grid 2 connection, maintaining a return rate of 9% Intelligent operation and mainte
Slide 21: Energy Storage: Accelerating Contract Execution and Grid Connection
Energy Storage: Accelerating Contract Execution and Grid Connection Energy storage investment under AuM model, delivering full lifecycle services 1 including development, construction, and O&M Energy storage contracted volume 2 secured 775 MWh in 1H2025; 1 GWh annual target on track Energy storage g
Slide 22: Power Trading: Synergy-Driven, AI-Intensified EaaS
Power Trading: Synergy-Driven, AI-Intensified Rooftop PV Electricity market liberalisation creates opportunities for EaaS; 1 + accelerating electricity sales and AI algorithms deployment Energy Storage The electricity trading volume reached + Industrial customers EaaS 2 3.64 billion kWh, with approx
Slide 23: AuM: Expand Financing Channels & Secure Capital Sources
AuM: Expand Financing Channels & Secure Capital Sources 560 MW AuM capacity achieved, leading 1 industry in both generation performance and cost management Two tranches of quasi-REITs (200 MW) 2 secured cumulative financing of approximately RMB1 billion Secured cumulative financing of 3 approximatel
Slide 24: Navigate Challenges & Seize Opportunities
Navigate Challenges & Seize Opportunities Renewable Energy Becoming Navigate Challenges & Main Source of Power Generation Seize Opportunities Power Generation Structure Forecast 1. Leverage “High-Return” Advantage (Unit: trillion kWh) • Intensified focus on “Zero-Carbon Parks” customer 20 cultivatio
Slide 25: ESG
ESG 3 33 2S ER Towngas Smart Energy 25
Slide 26: 1H2025: ESG Performance
1H2025: ESG Performance 2024 2025 3.0 3.1 Hang Seng Corporate Sustainability Index Series AA AA A A Selected for inclusion in the 66 66 Sustainability Yearbook (China Edition) for three consecutive years Towngas Smart Energy Limited | 2025 Interim Results 26
Slide 27: The 4th TERA-Award Smart Energy Innovation Competition (2024)
TERA-Award The 4th TERA-Award Smart Energy Innovation Competition (2024) • 785 submissions from 76 countries and regions in 2024 • Ceremony held at University of Cambridge • A British startup (Barocal) won the Gold Award Towngas Smart Energy Limited | 2025 Interim Results 27
Slide 28: Group Business Guidance
3 33 2S ER Towngas Smart Energy Group Business Guidance 28
Slide 29: 2025 Business Guidance
2025 Business Guidance Gas Business Renewable Energy Gas Sales Volume: Accumulated PV Grid-connected: 17.3 billion m 3 +1% 2.9 GW +0.6 GW Customers: Power Generation Volume: 18.27 million +0.63 million 2.58 billion kWh +40 % City Gas Dollar Margin: Electricity Trading Volume: 0.57 RMB/m 3 +0.01 RMB/
Slide 30: Thank You
3 33 2S ER Towngas Smart Energy THANK YOU
Slide 31: Disclaimer
Disclaimer This presentation and corresponding discussion may contain certain forward-looking statements, including statements regarding our intent, belief or current expectations with respect to Towngas Smart Energy’s businesses and operations, market conditions, results of operation and financial
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