China HK Power Smart Energy Group Limited (Stock Code: 931) revealed its unaudited interim results for the six months ended 30 September 2025. According to the announcement, total revenue stood at HK$253.1 million, representing a slight rise from HK$252.8 million for the same period last year. However, gross profit decreased to HK$15.5 million from HK$40.8 million in the comparable period, mainly due to shifts in product mix and intensified market competition. The company recorded a net loss of HK$72.8 million, compared with a net loss of HK$57.0 million a year earlier.
The natural gas segment accounted for 89.5% of total revenue, driven by an increase in wholesale pipeline natural gas sales. In contrast, point-to-point supply of liquefied natural gas (LNG) slowed, largely affected by competition in certain industrial markets. Meanwhile, the new energy business contributed 10.2% of revenue, reflecting progress in areas such as smart heating and comprehensive energy solutions, even though overall results were tempered by reduced new energy product sales.
Management indicated that cost-control initiatives led to lower selling and distribution expenses, but other charges included a loss on the disposal of certain plant and equipment amounting to HK$12.8 million. Finance costs edged up to HK$15.0 million, primarily linked to additional bank borrowings. The board does not recommend the payment of an interim dividend.
As of 30 September 2025, the company reported net assets of HK$324.3 million and held cash and cash equivalents of HK$57.9 million, allocated heavily toward new energy projects and natural gas infrastructure ventures. Major ongoing initiatives include centralized energy stations in Zhanjiang and Dongguan, with construction expected to continue into 2026. Plans also encompass establishing a headquarters production base and research center in Yixing, as well as a clean energy municipal project in Xi’an. The company aims to broaden its reach in both natural gas supply and emerging low-carbon technologies in line with national green and carbon-reduction policies.
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