Chongqing Gas released its 2026 interim report. Affected by intensifying market competition and rising gas source costs, the company's revenue and net profit both declined, but operating cash flow improved significantly, and it plans to implement an interim cash dividend. During the reporting period, the company achieved operating revenue of 4.981 billion yuan, down 4.65 percent year on year. Net profit attributable to the parent company was 75.0402 million yuan, down 28.79 percent year on year. Net profit attributable to the parent company after deducting non-recurring items was 54.9151 million yuan, down 43.70 percent year on year. Net cash flow from operating activities was 375 million yuan, a sharp year-on-year increase of 1,104.00 percent, mainly due to growth in the use of bills and discounting during the period and a decrease in prepaid gas fees. The company's board of directors has drawn up a 2026 interim profit distribution plan, proposing to distribute a cash dividend of 0.08 yuan per 10 shares, including tax, to all shareholders, with total planned cash dividends of about 12.4883 million yuan. In terms of business structure, pipeline gas supply and facility installation are the core main business. During the reporting period, gas sales volume was 1.788 billion cubic meters, down 7.19 percent year on year. The number of newly contracted residential customers was 23,100, down 20.09 percent year on year. Affected by the continued downturn in the real estate industry, new residential connection business declined and connection gross profit fell sharply. At the same time, upstream entities implemented policies such as guaranteeing volume but not price and limiting volume to control prices, which increased gas purchase costs and further compressed the gross profit margin of gas sales.
Chongqing Gas Grp Corp LtdRevenue and net profit declined due to competition and higher gas costs, though cash flow improved and dividend planned.
