Chairmen’s Statement

Although the pandemic that lasted for three years is now over, escalation in international and regional tensions has worsened the energy crisis which disrupts the global supply chain and economy. The presence of various unclear factors has created a challenging business environment, and consumer confidence has yet to be strengthened. The Group inevitably faced various challenges over the past year. Despite this, benefiting from the country’s unswerving promotion of environmental protection and the “30-60” dual carbon goals, with increasing efforts to stabilise the economy and promote consumption, the Group’s development continued to remain stable during the year.

Business Highlights

Town Gas SalesCompany

27,125

million MJ

 

Number of Customers
per EmployeeCompany

946

 

Profit Attributable to Shareholders

6,070

HK$ million

 

Dividends

6,531

HK$ million

 

2023 ESG Highlights

Review of Operations

Hong Kong Businesses

The year 2023 marked the end of the pandemic and the start of economic recovery. The Group’s development strategy focuses on innovation and adaptability to maintain a stable foundation on which to continue exploring innovative solutions and new business opportunities.

 

Mainland Businesses

Since establishing a presence on the Chinese mainland in 1994, our utility businesses have continued to grow and prosper. In order to keep pace with national development, we have diversified our businesses beyond city gas. In recent years, we have expanded our smart energy business and provided integrated energy solutions to our customers, securing a leading position in the market while contributing to the country’s transition towards carbon neutrality.

 

Diversified Businesses

The Group achieved positive results in its diversified businesses in 2023. We not only made remarkable progress with our investments in green energy and other innovative projects, but also expanded our manufacturing and engineering service offerings into new markets to support our core businesses and generate sustainable returns for stakeholders.

 

Environmental, Social and Governance

Towngas has consistently prioritised Environmental, Social and Governance (ESG) in its core business strategy. As part of this commitment, we are ensuring that the transition to a low-carbon, sustainable economy is fair and inclusive, taking into account the social and economic implications on our employees, communities and other stakeholders.

Review of Operations