Towngas Smart Energy Company Limited · HKEX:1083
Towngas Smart Energy — H1 2026 Earnings Presentation
29 slides from Towngas Smart Energy's earnings presentation, Aug 17, 2026
Slide 1: Towngas Smart Energy 2026 Interim Results
Towngas Smart Energy Company Limited (1083.HK) 2026 Interim Results 17 August 2026 1
Slide 2: 1H2026 Business Highlights
1H2026 Business Highlights Gas Business Renewable Energy • Diversified sourcing optimised gas • Completed 0.24 GW of AuM, bringing supply costs cumulative AuM to 1.5 GW with total financing of RMB5.5 billion • Cost pass-through steadily completed with dollar margin increased by • Developed high-qual
Slide 3: 1H2026 Overview of Business Operations
1H2026 Overview of Business Operations Gas Business Renewable Energy * Gas Sales Volume: Accumulated PV Grid-connected: 8.54 billion m 3 -2 % 3.0 GW +0.2 GW Customers:* Power Generation Volume: 18.66 million +0.27 million 1.32 billion kWh +12 % City Gas Dollar Margin: Electricity Trading Volume: 0.5
Slide 4: Agenda
AGENDA Financial Highlights P. 5 Business Review ▪ Gas Business P. 9 ▪ Renewable Energy P. 15 ESG P. 22 4
Slide 5: Financial Highlights
eo ER Towngas Smart Energy Financial Highlights
Slide 6: 2026 Interim Results
2026 Interim Results (Unit: HK$ million) 1H2025 1H2026 Changes (%) Revenue 10,437 11,328 +9 Operating Profit 1,024 992 -3 - Gas Business Net Profit 852 912 +7 - Renewable Energy Business Net Profit 172 80 -53 Corporate Financial Expenses (264) (258) +2 Core Operating Profit 719 690 -4 Profit Attribu
Slide 7: Financial Position
Financial Position (Unit: HK$ billion) Dec 2025 Jun 2026 Total Assets 55.2 57.7 Net Assets 28.2 29.1 Total Borrowings 17.2 18.3 Less: Cash 2.6 3.4 Net Borrowings 14.6 14.9 Net Gearing Ratio* 34% 34% *Note: Net Debt / (Net Debt + Net Assets） Credit Rating: BBB+ Baa1 AAA 7 Towngas Smart Energy Limited
Slide 8: Financial Prudence & Capital Discipline
Financial Prudence & Capital Discipline (Unit: HK$ billion) 1H2025 1H2026 - Gas Business 0.7 0.5 - Renewable Energy Business 0.7 0.3* Capital Expenditure 1.4 0.8 *Note: supported by AuM financing to meet funding requirements 8 Towngas Smart Energy Limited | 2026 Interim Results
Slide 9: Business Review
Business Review • Gas Business • Renewable Energy 9
Slide 10: Gas Sales Volume Analysis
Gas Sales Volume Analysis Gas Sales Volume (Unit: billion m3) -2% • PRC NG usage dropped by 2.4% YoY in 1H2026 8.75 8.54 Residential 1.89 1.89 22% • Notable impact due to mild winter: average winter Commercial 0.99 temperature increased by 1.5°C, second-highest 0.90 10% on record Industrial 4.14 4.0
Slide 11: Steadily Rising Dollar Margin
Steadily Rising Dollar Margin Selling Price, Gas Cost and City Gas Dollar Margin (Unit: RMB/m3) 1H2025 1H2026 Changes Residential 2.77 2.78 +0.01 • Dollar margin improved Selling Commercial 3.60 3.60 - Price • Dynamic sourcing countered market fluctuations, Industrial 3.42 3.41 -0.01 optimised costs
Slide 12: Connection Business Revenue
Connection Business Revenue PRC real estate market remained weak, new connections under pressure • Affected by weak PRC real estate market, The number of residential connections new connections declined (Unit: thousands) 1H2025 1H2026 Changes (%) • Expanded coverage on resettlement housing 330 278 -
Slide 13: Advancing Gas+ Energy Efficiency Business Expansion
Advancing “Gas+” Energy Efficiency Business Expansion (Unit: RMB) Captured Incremental C&I Gas Demand “Gas+” featured extensive application and Integrated Energy Revenue scenarios and vast market potential • Advancing gas-for-steam/electricity substitution. Secured 67 Pharmaceuti- major customers in
Slide 14: Gas Supply Chain: Assurance of Gas Supply
Gas Supply Chain: Assurance of Gas Supply • Enhance gas supply security & cost efficiency management to sustain business growth • Total gas sales volume reached 17.4 billion m³in 2025, including coordinated gas volume of 3.1 billion m³ (accounting for 18%). Cost saving: ~RMB0.3 billion Jincheng • Im
Slide 15: Business Review
Business Review • Gas Business • Renewable Energy 15
Slide 16: Consolidated Leading Position in C&I PV
Consolidated Leading Position in C&I PV • Covered 128 zero-carbon industrial parks • Invested and managed PV installed capacity of 3 GW • Invested and managed energy storage installed capacity of 0.85 GWh • 3,500 industrial electricity customers with electricity sales of 7.2 billion kWh in 1H2026 Re
Slide 17: Electricity Price Stabilised; Promising Growth Ahead
Electricity Price Stabilised; Promising Growth Ahead (Unit: RMB) Industrial PV Electricity Price in Jiangsu 2025 2026 Actual 2026 Forecast • Major PV provinces implemented “midday off-peak 0.7 Midday off-peak tariff took effect in June 2025 tariff” in 1H2025 0.6 0.514 • Gross margin per kWh narrowed
Slide 18: Rapid Growth of Asset-light Business
Rapid Growth of Asset-light Business (Unit: RMB million) +45% • Rapidly expanded AuM scale, delivering asset +200% 29 management profit of RMB24 million 24 • Rapid growth in electricity trading: electricity sales of 20 7.2 billion kWh, with profit of RMB29 million in 1H2026 • Gas synergy & AI algori
Slide 19: Standalone Energy Storage & Green Power Direct Connection Expansion
Standalone Energy Storage & Green Power Direct Connection Expansion Grid-side peak-shaving energy storage Grid • Under the AuM model, accumulated PV grid- connected C&I energy storage reached 0.85 GWh Standalone Energy Storage Capacity Tariff Peak-valley Tariff Spread Ancillary Services • Marketisat
Slide 20: Capital Recycling via AuM for New Project Investment
Capital Recycling via AuM for New Project Investment Issued 4 tranches of Quasi-REITs and 1 tranche of inter-institutional REIT, totalling 581 MW Cumulative AuM Scale (GW) 1.5 Average Equity Disposal Ratio 70% Cumulative AuM Financing (RMB Billion) 5.5 Note： 1. Retained full asset management rights
Slide 21: Key Priorities
Key Priorities • Accelerate high-quality PV investment and M&A; targeting grid-connected capacity of 0.8 GW in 2H2026 and 1 GW for the full year • Broaden channels to achieve annual target of 0.8 GW incremental AuM, securing ~RMB2.8 billion in financing for rolling reinvestment • Through the deploym
Slide 22: ESG
ESG eo ER Towngas Smart Energy 22
Slide 23: Industry-leading ESG Performance
Industry-leading ESG Performance 2025 2026 ESG Rating Improved Demonstrating robust HSE A AA management and prudent carbon management capabilities Hang Seng Corporate Sustainability Index Series AA+ AA+ 69 69 Towngas Smart Energy Limited | 2026 Interim Results 23
Slide 24: Group Challenges & Opportunities; Full-year Business Guidance
2026: • Group Challenges & Opportunities • Full-year Business Guidance 24
Slide 25: Gas Business Challenges and Opportunities
Gas Business Challenges Opportunities Seizing opportunities under the 15th Five-Year Plan, fostering cross-segment synergy, scaling up Global warming “Gas+” energy efficiency businesses and engaging in local urban “green transition” National initiative to expand domestic demand and upgrade housing q
Slide 26: Renewable Energy Business Challenges and Opportunities
Renewable Energy Business Challenges Opportunities Implementation of “midday off- Electricity prices stabilised; policies drive full peak tariff” drives down returns industrial PV rollout with reinvestment financed of existing PV assets via AuM Abolition of TOU tariffs affects Capturing trillion-yua
Slide 27: 2026 Full-year Business Guidance
2026 Full-year Business Guidance Gas Business Renewable Energy Gas Sales Volume: Accumulated PV Grid-connected: 17.54 billion m 3 +1% 3.8 GW +1.0 GW Customers: Power Generation Volume: 18.89 million +0.50 million 3.05 billion kWh +23 % City Gas Dollar Margin: Electricity Trading Volume: 0.59 RMB/m 3
Slide 28: Thank You
eo ER Towngas Smart Energy THANK YOU
Slide 29: 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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