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Hong Kong & China Gasi

Founded in 1862, Hong Kong and China Gas Co sells towngas and gas appliances. Towngas mainly serves the needs of domestic, commercial and industrial customers for cooking, heating water and other purposes. The company also has operations in China.

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  • Towngas, which last raised its basic tariff by 4.4 per cent in August 2022, is under pressure to lift gas tariffs this year, managing director Peter Wong says
  • The city’s sole piped-gas provider beat analysts’ estimates with a 16 per cent jump in net profit to HK$6.07 billion (US$775.8 million) last year
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Towngas shares dropped by as much as 15 per cent after it posted worse-than-expected annual results and suspended long-standing practice of issuing bonus shares.

The mainland division of Hong Kong and China Gas (Towngas) also plans to change its name to Towngas Smart Energy to reflect the group’s ‘future development direction’.

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Towngas and CATL plan to set up a joint venture to install energy storage systems in 10 industrial parks initially and also invest in energy-related projects.

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Towngas plans to expand its presence in the Greater Bay Area’s water supply, waste water treatment, municipal waste processing and waste-to-energy businesses.

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Increase of 4.4 per cent to affect 1.9 million users when it comes in on August 1, with company citing higher labour and operating costs as reasons for rise.

China Gas, a major natural gas distributor, says it has lined up contracts to ensure it can heat a growing number of rural homes – but some analysts are sceptical as another winter approaches