ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2024

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.CHINA GAS HOLDINGS LIMITED 中国燃气控股有限公司* (Incorporated in Bermuda with limited liability) (Stock Code: 384) ANNUAL RESULTS FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL HIGHLIGHTS Year ended 31 March 2024 2023 Change HK$’000 HK$’000 % Revenue 81410133 91988445 (11.5) Gross profit 11304123 12034675 (6.1) Non-HKFRS measure: Adjusted net profit attributable to owners of the Company# 3965514 4144052 (4.3) Net cash flow from operating activities 11340195 10027284 13.1 Free cash flow 4288773 2519991 70.2 Annual Dividend (HK cents per share) 50 50 –# Please refer to Note 1 on page 20 and the section headed “Reconciliation of Non-HKFRS Measure to the NearestHKFRS Measure” for details.– 1 –The Board of Directors (the “Board”) of China Gas Holdings Limited (the “Company”) announces the audited consolidated financial results of the Company and its subsidiaries (the “Group”) for the year ended 31 March 2024 together with the comparative figures for the year ended 31 March 2023 as follows: CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME Year ended Year ended 31 March 31 March 20242023 Notes HK$’000 HK$’000 Revenue 3 81410133 91988445 Cost of sales (7010601 0) (79953770) Gross profit 11304123 12034675 Other income 1212899 1373913 Other gains and losses (763954) 344502 Selling and distribution costs (2551377) (2950007) Administrative expenses (3163135) (3153578) Finance costs (2121753) (1855358) Share of results of associates 297253 344838 Share of results of joint ventures 39838 9 (100983) Profit before taxation 4612445 6038002 Taxation 4 (75955 8) (923578) Profit for the year 5 385288 7 5114424 – 2 –Year ended Year ended 31 March 31 March 20242023 Note HK$’000 HK$’000 Other comprehensive (expense) income Items that will not be reclassified to profit or loss: Exchange differences arising on translation (4424886) (6858730) Decrease in fair value of investments in equity instruments at fair value through other comprehensive income (169551) (84144) Gain on revaluation of properties net of deferred tax – 73137 (4594437)(6869737) Items that may be reclassified subsequently to profit or loss: Fair value gain on hedging instruments designated as cash flow hedge 32936 – Reclassification to profit or loss on realisation of cash flow hedge (25181) – 7755– Other comprehensive expense for the year (4586682) (6869737) Total comprehensive expense for the year (733795) (1755313) Profit for the year attributable to: Owners of the Company 3184939 4293484 Non-controlling interests 667948 820940 38528875114424 Total comprehensive (expense) income for the year attributable to: Owners of the Company (1000398) (1890761) Non-controlling interests 266603 135448 (733795)(1755313) Earnings per share Basic 6 HK$0.59 HK$0.80 Diluted HK$0.59 HK$0.80 – 3 –CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31 March 2024 20242023 Notes HK$’000 HK$’000 Non-current assets Investment properties 2596454 2881831 Property plant and equipment 67521253 66891255 Right-of-use assets 2420802 3792673 Investments in associates 10005754 10245589 Investments in joint ventures 12033619 12045110 Equity instruments at fair value through other comprehensive income 753585 922498 Goodwill 3078353 3230141 Other intangible assets 3244551 3601304 Deposits for acquisition of property plant and equipment 240822 342457 Deposits for acquisition of subsidiaries joint ventures and associates and other deposits 96315 105643 Deferred tax assets 1459037 1012269 103450545105070770 Current assets Inventories 4731280 5655445 Contract assets 10260982 12706697 Trade and other receivables 8 15519598 16702411 Amounts due from associates 9 76172 474088 Amounts due from joint ventures 10 6314715 5959576 Derivative financial instruments 36512 – Held-for-trading investments 27585 104536 Pledged bank deposits 185999 178696 Cash and cash equivalents 8094336 10438990 4524717952220439 –4–20242023 Notes HK$’000 HK$’000 Current liabilities Trade and other payables 11 17628751 19557328 Amounts due to associates 9 81760 72050 Amounts due to joint ventures 10 366502 156108 Contract liabilities 8568261 9080132 Derivative financial instruments 28757 – Tax payable 606660 806268 Lease liabilities 58146 200709 Bank and other borrowings – due within one year 23043420 21907608 5038225751780203 Net current (liabilities) assets (5135078) 440236 Total assets less current liabilities 98315467 105511006 Equity Share capital 54356 54403 Reserves 53873299 57846181 Equity attributable to owners of the Company 53927655 57900584 Non-controlling interests 6819698 6889795 Total equity 60747353 64790379 Non-current liabilities Bank and other borrowings – due after one year 36021935 38103193 Lease liabilities 114904 1175335 Deferred tax liabilities 1431275 1442099 3756811440720627 98315467105511006 – 5 –1. BASIS OF PREPARATION The consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”). For the purpose of preparation of the consolidated financial statements information is considered material if such information is reasonably expected to influence decisions made by primary users. In addition the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”) and by the Companies Ordinance (Chapter 622 of the Laws of Hong Kong).As at 31 March 2024 the Group’s net current liabilities amounted to HK$5135078000. The consolidated financial statements have been prepared on a going concern basis because the directors of the Company believe that the Group has sufficient funds to finance its current working capital requirements taking account of the cash flows from operations and assuming the continuing ability to utilise the available bank facilities. As at 31 March 2024 the Group had available unutilised bank facilities of HK$91255455000.The consolidated financial statements have been prepared on the historical cost basis except for investment properties and certain financial instruments that are measured at fair values at the end of each reporting period. 2. APPLICATION OF NEW AND AMENDMENTS TO HKFRSs New and amendments to HKFRSs that are mandatorily effective for the current year In the current year the Group has applied the following new and amendments to HKFRSs issued by the HKICPA for the first time which are mandatorily effective for the Group’s annual period beginning on or after 1 April 2023 for the preparation of the consolidated financial statements: HKFRS 17 (including the October 2020 and Insurance Contracts February 2022 Amendments to HKFRS 17) Amendments to HKAS 8 Definition of Accounting Estimates Amendments to HKAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction Amendments to HKAS 12 International Tax Reform – Pillar Two Model Rules Amendments to HKAS 1 and Disclosure of Accounting Policies HKFRS Practice Statement 2 Except for the Amendments to HKAS 1 and HKFRSs Practice Statement 2 “Disclosure of Accounting Policies” which has affected the disclosure of the Group’s accounting policies in the consolidated financial statements the application of the other new and amendments to HKFRSs in the current year has had no material impact on the Group’s financial positions and performance for the current and prior years and/or on the disclosures set out in the consolidated financial statements.– 6 –3. REVENUE AND SEGMENT INFORMATION Revenue arises from contracts with customers for the sales of natural gas gas connection engineering design and construction sales of liquefied petroleum gas (“LPG”) value-added services and other businesses by the Group.Information reported to the Group’s chief operating decision maker (“CODM”) being the Chairman and President of the Group for the purposes of resources allocation and assessment of segment performance focuses on types of goods or services rendered which is also consistent with the basis of organisation of the Group.The CODM reviews the results of Zhongyu Energy Holdings Limited (“Zhongyu Energy”) an associate of the Group being accounted for under equity accounting separately and thus Zhongyu Energy is presented as a single operating and reportable segment.The Group’s operating and reportable segments under HKFRS 8 “Operating Segments” are as follows: (i) Sales of natural gas; (ii) Gas connection; (iii) Engineering design and construction; (iv) Sales of LPG; (v) Value-added services; (vi) Other businesses; and (vii) Zhongyu Energy.Information regarding the above segments is presented below.– 7 –Segment revenues and results The following is an analysis of the Group’s revenue and results by operating and reportable segment: For the year ended 31 March 2024 Engineering Sales of Gas design and Sales of Value-added Other Zhongyu Segment natural gas connection construction LPG services businesses Energy total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 Total segment revenue 52444694 4014539 5217659 17980918 3654898 1777457 – 85090165 Inter-segment revenue – – (3680032) – – – – (3680032) External segment revenue 52444694 4014539 1537627 17980918 3654898 1777457 – 81410133 Segment profit 3062678 681461 622741 120064 1582032 426410 215837 6711223 Changes in fair value of investment properties (94639) Changes in fair value of held-for-trading investments (76951) Interest and other gains and losses (119407) Unallocated corporate expenses (747211) Finance costs (1139162) Exchange gain on translation of foreign currency monetary items into functional currency 30033 Gain on disposal of interest/partial interests in associates and deemed acquisition of additional interests in an associate 187831 Loss on disposal and winding up of subsidiaries (14282) Share of results of associates (other than Zhongyu Energy) 81416 Share of results of joint ventures 398389 Share-based payment expense (2813) Gain arising on lease modifications 83616 Impairment losses recognised on trade receivables and contract assets net (685598) Profit before taxation 4612445 – 8 –For the year ended 31 March 2023 (restated) Engineering Sales of Gas design and Sales of Value-added Other Zhongyu Segment natural gas connection construction LPG services businesses Energy Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 Total segment revenue 57550916 5686604 6582647 22499530 3455031 1706902 – 97481630 Inter-segment revenue – – (5493185) – – – – (5493185) External segment revenue 57550916 5686604 1089462 22499530 3455031 1706902 – 91988445 Segment profit 2919829 938795 708650 67889 1496217 444622 64985 6640987 Changes in fair value of investment properties 133850 Changes in fair value of held-for- trading investments (102) Gain on transfer from inventories to investment properties 254020 Interest and other gains and losses (284721) Unallocated corporate expenses (481342) Finance costs (980491) Exchange gain on translation of foreign currency monetary items into functional currency 219706 Gain on loss of significant influence in an associate 320217 Loss on disposal and winding up of subsidiaries (5370) Gain on disposal of investment properties 10639 Share of results of associates (other than Zhongyu Energy) 279853 Share of results of joint ventures (100983) Share-based payment expense (345) Impairment losses reversed on trade receivables and contract assets net 32084 Profit before taxation 6038002 Inter-segment revenue are charged at prevailing market rates.The accounting policies of the operating segments are the same as the Group’s accounting policies. Except for segment profit of Zhongyu Energy segment profit for the remaining reportable segments represents the profit earned by each segment without allocation of changes in fair value of investment properties changes in fair value of held-for- trading investments gain on transfer from inventories to investment properties certain interest and other gains and losses corporate expenses gain on disposal/deemed disposal of interests/partial interests in associates gain on loss of significant influence in an associate loss on disposal and winding up of subsidiaries gain on disposal of investment properties share of results of associates (other than Zhongyu Energy) share of results of joint ventures share-based payment expense net impairment losses (recognised) reversed on trade receivables and contract assets gain arising on lease modifications certain exchange gain on translation of foreign currency monetary items into functional currency and certain finance costs. The segment profit of Zhongyu Energy represents share of results of Zhongyu Energy. This is the measure reported to the CODM for the purposes of resources allocation and performance assessment.Impairment losses on trade receivables and contract assets net are not allocated into segments when reporting to the CODM for performance evaluation and resource allocation for the year ended 31 March 2024. Accordingly the comparative information for the year ended 31 March 2023 has been restated.– 9 –4. TAXATION 20242023 HK$’000 HK$’000 The People’s Republic of China (the “PRC”) Enterprise Income Tax 1192547 1235969 Deferred tax credit (432989) (312391) 759558923578 No provision for Hong Kong Profits Tax has been made in the consolidated financial statements as the Group had no assessable profit arising in or derived from Hong Kong for both years.Under the Law of the PRC on Enterprise Income Tax (the “EIT Law”) and the Implementation Regulation of the EIT Law the tax rate of the PRC subsidiaries is 25% for both years except for certain PRC subsidiaries that are subject to tax relief explained below.Certain PRC subsidiaries are entitled to the preferential tax rate pursuant to the relevant regulations applicable to enterprises situated in the western region of the PRC and high-technology enterprises. The applicable tax rate of those PRC subsidiaries is 15% for both years. 5. PROFIT FOR THE YEAR 20242023 HK$’000 HK$’000 Profit for the year has been arrived at after charging (crediting): Auditor’s remuneration 10200 10500 Depreciation of property plant and equipment 2430372 2283191 Depreciation of right-of-use assets 298720 339565 Amortisation of intangible assets 181405 189408 Staff costs 4320091 4333831 Cost of inventories recognised as expenses 67729632 78178611 Rental income from investment properties less outgoings of HK$5333000 (2023: HK$1327000) (28091) (22985) – 10 –6. EARNINGS PER SHARE The calculation of the basic and diluted earnings per share attributable to the owners of the Company is based on the following data: 20242023 HK$’000 HK$’000 Earnings Profit for the year attributable to owners of the Company for the purposes of basic and diluted earnings per share 3184939 4293484 20242023 ’000’000 Number of shares Weighted average number of ordinary shares for the purpose of basic earnings per share 5383521 5387551 Effect of dilutive potential ordinary shares in respect of share awards granted 12 7 Weighted average number of ordinary shares for the purpose of diluted earnings per share 5383533 5387558 The weighted average number of ordinary shares is arrived at after deducting the treasury shares held by the trustee under the share award scheme.During the years ended 31 March 2024 and 2023 the computation of diluted earnings per share does not assume the exercise of the Company’s outstanding share options as the adjusted exercise price of those share options is higher than the average market price of the shares for the years ended 31 March 2024 and 2023. 7. DIVIDENDS 20242023 HK$’000 HK$’000 Final dividend paid in respect of year ended 31 March 2023 of HK$0.40 (2023: HK$0.45 in respect of the year ended 31 March 2022) per share 2176134 2448151 Interim dividend paid in respect of six months ended 30 September 2023 of HK$0.15 (2023: HK$0.10 in respect of the six months ended 30 September 2022) per share 815336 544034 29914702992185 A final dividend of HK$0.35 in respect of the year ended 31 March 2024 (2023: final dividend of HK$0.40 in respect of the year ended 31 March 2023) per share in an aggregate amount of HK$1902451000 (2023: HK$2176134000) has been proposed by the directors of the Company and is subject to approval by the shareholders in the forthcoming general meeting.– 11 –8. TRADE AND OTHER RECEIVABLES 20242023 HK$’000 HK$’000 Trade receivables from contracts with customers 6684417 7271886 Less: Allowance for credit losses (1060618) (989259) Trade receivables net 5623799 6282627 Deposits paid for construction and other materials 1474578 1497602 Deposits paid for purchase of natural gas and LPG 3067304 3860858 Advance payments to sub-contractors 1046921 1071346 Rental and utilities deposits 521239 617013 Other tax recoverable 663550 562078 Other receivables and deposits 1675697 1450126 Prepaid operating expenses 1376951 1225351 Amounts due from non-controlling interests of subsidiaries 69559 135410 Total trade and other receivables 15519598 16702411 Other than certain major customers with good repayment history which the Group allows a longer credit period or settlement by instalment basis the Group generally allows an average credit period of 30 to 180 days to its trade customers.The following is an aged analysis of trade receivables net of allowance for credit losses presented based on invoice date at the end of the reporting period: 20242023 HK$’000 HK$’000 0–180 days 2400788 3229635 181–365 days 576011 708738 Over 365 days 2647000 2344254 56237996282627 The Group has policies for allowance for credit losses which are based on the evaluation of collectability and aged analysis of trade receivables and on the management’s judgment including the current creditworthiness the past collection history of customers as well as relevant forward-looking information. 9. AMOUNTS DUE FROM (TO) ASSOCIATES Included in the balance of amounts due from associates are balances of trade nature of HK$44971000 (2023: HK$84671000) and aged within 180 days based on invoice date. A credit period of 30 to 180 days is granted to the associates for trade amounts.As at 31 March 2024 amounts due to associates are balances of trade nature and aged within 180 days based on invoice date.– 12 –10. AMOUNTS DUE FROM (TO) JOINT VENTURES Included in the balance of amounts due from joint ventures are balances of trade nature of HK$2008153000 (2023: HK$3912023000) and aged within 180 days based on invoice date. A credit period of 180 days is granted to the joint ventures for trade amounts.As at 31 Mach 2024 amounts due to joint ventures are balances of trade nature of HK$180704000 (2023: HK$156108000) and aged within 180 days based on invoice date. 11. TRADE AND OTHER PAYABLES Trade and other payables comprise amounts outstanding for trade purchases and ongoing costs. The following is an aged analysis of trade and bill payables presented based on the invoice date at the end of the reporting period: 20242023 HK$’000 HK$’000 0–90 days 6901648 9430268 91–180 days 1731838 883401 Over 180 days 4336448 4334203 Trade and bill payables 12969934 14647872 Other payables and accrued charges 1756140 1574410 Consideration payables 283200 295278 Construction cost payables 582990 838162 Retention payables and security deposits received 1318370 1600123 Accrued staff costs 150980 150221 Loan interest payables 375488 253297 Amounts due to non-controlling interests of subsidiaries (Note) 191649 197965 Total trade and other payables 17628751 19557328 Note: The amounts due to non-controlling interests of subsidiaries are non-trade in nature unsecured non-interest bearing and repayable on demand.The average credit period on trade purchases and ongoing costs is 90 to 180 days.– 13 –FINAL DIVIDEND The Board resolved to recommend payment of a final dividend of HK35 cents per share to shareholders whose names appear on the register of members of the Company on 29 August 2024 (the record date for determining the entitlement of the shareholders to receive the proposed final dividend). Together with the interim dividend of HK15 cents per share paid to the shareholders on 2 February 2024 the total dividend for the year ended 31 March 2024 amounts to HK50 cents per share (total dividend for the year ended 31 March 2023 amounted to HK50 cents per share).The proposed final dividend will be payable in cash with an option granted to shareholders to receivenew and fully paid shares in lieu of cash in whole or in part under the scrip dividend scheme (the “ScripDividend Scheme”). The new shares will on issue rank pari passu in all respects with the existing shares in issue on the date of the allotment and issue of the new shares except that they shall not be entitled to the proposed final dividend. The circular containing details of the Scrip Dividend Scheme and the relevant election form is expected to be sent to shareholders on or around 5 September 2024.The Scrip Dividend Scheme is conditional upon the passing of the resolution relating to the payment of the final dividend at the forthcoming annual general meeting and the Listing Committee of The Stock Exchange of Hong Kong Limited granting the listing of and permission to deal in the new shares to be issued under the Scrip Dividend Scheme.It is expected that the cheques for cash dividends and the share certificates to be issued under the Scrip Dividend Scheme will be sent by ordinary mail to shareholders at their own risk on or around 4 October 2024. The final dividend if approved by the shareholders at the forthcoming annual general meeting is expected to be payable on or around 4 October 2024 (Friday).CLOSURE OF REGISTER OF MEMBERS To be eligible to attend and vote at the forthcoming annual general meeting For the purpose of determining the shareholders who are entitled to attend and vote at the forthcoming annual general meeting the register of members of the Company will be closed from 16 August 2024 (Friday) to 21 August 2024 (Wednesday) (both days inclusive) during which no transfer of shares of the Company will be registered. In order to qualify for attending and voting at the forthcoming annual general meeting to be held on 21 August 2024 (Wednesday) all transfers of shares accompanied by the relevant share certificates and transfer forms must be lodged with the Company’s branch share registrar and transfer office in Hong Kong Computershare Hong Kong Investor Services Limited at Shops 1712– 16 17th Floor Hopewell Centre 183 Queen’s Road East Wanchai Hong Kong not later than 4:30 p.m. on 15 August 2024 (Thursday).– 14 –To qualify for the proposed final dividend For the purpose of determining the shareholders who are entitled to receive the proposed final dividend for the year ended 31 March 2024 the register of members of the Company will be closed from 27 August 2024 (Tuesday) to 29 August 2024 (Thursday) (both days inclusive) during which no transfer of shares will be registered. Subject to the approval of the shareholders at the forthcoming annual general meeting the final dividend will be payable to the shareholders whose names appear on the register of members of the Company on 29 August 2024 (Thursday). In order to qualify for the proposed final dividend all transfers of shares accompanied by the relevant share certificates and transfer forms must be lodged with the Company’s branch share registrar in Hong Kong Computershare Hong Kong Investor Services Limited at Shops 1712–16 17th Floor Hopewell Centre 183 Queen’s Road East Wanchai Hong Kong not later than 4:30 p.m. on 26 August 2024 (Monday).MANAGEMENT DISCUSSION AND ANALYSIS ABOUT CHINA GAS The Group is one of the largest trans-regional integrated energy suppliers and service providers in China.Focusing on the home country it predominantly specialises in the investment construction and operation of city and township gas pipelines gas terminals storage and transport facilities and logistics systems delivering natural gas and liquified petroleum gas (LPG) to residential industrial and commercial users.The Group also builds and operates compressed natural gas (CNG) and liquefied natural gas (LNG) fuelling stations while developing and applying natural gas and LPG technologies. At China Gas over two decades of exploration and growth were translated into a full-fledged business portfolio centred around piped gas stretching across LPG LNG integrated energy services and grid-based new retail in the private domain backed by stores.BUSINESS REVIEW AND OUTLOOK The past year injected with headwinds and setbacks as well as opportunities and silver linings has been a year of resilience progress innovation and reform.The international arena where geopolitical conflicts raged on posed instabilities to the global energy transportation and supply. Benchmark interest rates of the Federal Reserve sit at a 23-year high for almost a year which put the global economic and financial system on a bumpier path and the economy under greater downward pressure. The intensified competition among countries and their respective development challenges have led to prevalent trade protectionism restraining the free flow of capital and trade across borders and leading to depressed demand. The world economy in the bigger picture featured weak impetus for rebounds unstable momentum for growth widening economic gaps among countries and more. Such risks put a cap on growth worldwide.– 15 –The story at home likewise was in the shadow where post-pandemic growth engines looked lackluster and uncertainties mounting brewing with cyclical and structural issues amid weak growth worldwide.The city gas industry hit by the sluggish macro-economy climate change energy substitution price fluctuations and beyond felt the pain from squeezed consumption in the industrial sector something shaped by the shrinking growth of industrial output and thus recorded lower gas consumption.Meanwhile hurt by China’s cooling property sector another player in the game user acquisition of city gas companies took a nosedive as compared to last year. Albeit in such thorniness over the year the city gas industry buoyed by the consumption ramp-up by residential and commercial users rode out the loss in industrial consumption.As answers to such an economic landscape in the new normal and moves especially pronounced within this year China’s newly-launched macroeconomic policies the drivers for booming consumption and stable investment came along the freshly rolled-out “Three Major Projects” (building affordable housing renovating urban villages and constructing emergency public facilities) ultra-long special treasury bonds renovation of ageing pipelines renovation of old communities the “bottled-to-piped gas” transition and more policies turbocharging the gas industry. Such policies together with China’s strong financial backing drove up demand stabilised growth and thus opened new frontiers for this industry. On top of this on the back of the nationwide proliferation of the price pass-through mechanisms of natural gas step by step and the price pass-through of retail prices in parts of China there emerged dollar-margins gains in gas sales which further positioned the gas industry to healthy and sustainable development.What lies at the heart of the Group’s operations is also high-quality and sustainable development for a business stringent on its capital expenditure (“CAPEX”) and cash flows for greater intrinsic value and stable return for shareholders. Its FY2023 story was one of stunning cash flows – free cash flow for instance hit HK$4.29 billion. And on its corporate administration lean operation and managerial innovations its twin priorities expedited the building and leveraging of digital assets for its management system to go digital. Together such moves delivered a yet sturdier groundwork for its resilient growth ever-rising efficiency and thus high-quality growth.During the year the Group’s turnover went down 11.5% year-on-year to HK$81410133000; profit attributable to owners of the Company dropped by 25.8% to HK$3184939000. Excluding exchange gains and losses and other non-operating or one-time factors the adjusted net profit# attributable to the owners of the Company was HK$3965514000 representing a year-on-year decrease of 4.3%. The proposed dividend for the year was HK50 cents per share with a payout ratio of 84.7%.# Please refer to Note 1 on page 20 and the section headed “Reconciliation of Non-HKFRS Measure to the NearestHKFRS Measure” for details.– 16 –Looking forward upholding the commitment of high-quality development we will further strengthen our safety management in active response to the requirements of raised operational standards regarding gas safety in China to ensure safe production with zero accidents. Meanwhile we will capture the opportunity brought by the supportive national policies focusing on the renovation of old pipeline networks and other aspects with a view to expediting the upgrade and renovation of key infrastructure and enhancing service capability and operations efficiency.Navigating the headwinds and tailwinds encountered in business development the Group has been venturing for new growth engines in innovative segments to grow its business presence and its performance. This is how it has been building synergy among its gas business value-added services (“VAS”) and integrated energy the pillars of the Group. Regarding the natural gas segment we will further enhance our operations efficiency through delicacy management to provide premium services for customers. In addition the Group will promote the implementation of policies such as price pass-through mechanisms of natural gas cost review of distribution returns and beyond achieving price pass-through for residential users as soon as possible.Regarding the LPG segment we will further promote the pooling of upstream and downstream resources along the industrial chain with innovative business model building synergy within the industrial chain.On the VAS segment we will capture the opportunities of development of the home renovation industry quickly crafting its offerings on kitchen renovation and renewing its operating model of community stores. Besides riding on our efforts in technology innovation and business innovation we will proliferate the development of products and services with high added value further diversifying the VAS business portfolio. We believe that the new development initiatives will be able to strengthen the profitability of the VAS segment while offering a wider spectrum of choices and more premium service experience.Digital transformation is considered as the key to our future development. The Group will speed up digital transformation to enhance operations efficiency and optimize the decision-making process.Meanwhile the Group will also construct a digital platform with a view to achieving the interconnection of business data facilitating best resources allocation and enhancing operations efficiency in general.In addition leveraging big data cloud computation and other cutting-edge information technology we managed to step up our data analytical capability and optimize resources allocation strengthening the Group’s core competitiveness.– 17 –SAFETY MANAGEMENT At China Gas where safe operations always come as a priority well embedded in all actions is the management philosophy of “all safety issues matter and responsibility rules” with “safety as thekeystone of all” at the heart of everything it offers. By virtue of its risk overhauls solid rectifications of hidden hazards ever-escalating safety control and proliferating renovations and maintenance of aging pipelines its safety management has been on the rise meaning a safe and stable climate for its high- quality development.FY2023 registered how its safety management platform for the gas industry emerged more rounded a leap from flat workplace safety to multidimensional and integrated management matrix of workplace safety based on its multi-layered architecture. On the platform node data of workplace safety from the Group regional companies and operational groups to project-specific companies are all interconnected pooling up the interplay of safety-inspection management fulfilment of safety responsibility workplace safety incorporated in supervision hidden-hazard management corporate safety profiling and more. This is how its workplace safety went more digital convenient visualised and platform-based.FY2023 also saw its intelligent platform for gas supervision take shape. Designed for the “joint creationand operations for shared access and use” between companies and governments this digitalisation-backed platform serves as a trailblazer in management mechanisms of connectivity and collaboration between companies and governments. This enabled its gas safety supervision to move from reactive responses into proactive management from post-event solutions into prevention from static supervision isolated into constant prevention and control all dynamic. On this platform proudly offered are overall coordination commands and allocations supervision and assessment monitoring and early warnings analysis and investigations as well as overall evaluation in city gas management all weaved together as one as strong powerhouses for vital urban safety projects exemplified by smart gas.Another highlight of the financial year was the Group’s digital twins well at play in the Hangzhou Asian Games Village the bedrocks for visualised operations and maintenance of the underground pipe racks there. This very digital-twin platform which went hand in hand with authorities of operations and management enabled government-led pipe racks co-operated by governments and businesses upgraded from the previous ones built and operated solely by governments something that could fuel the digital and information-based planning construction and management of gas infrastructure.– 18 –Financial and Operational Highlights for the year ended 31 March 2024 2023 Change Turnover (HK$’000) 81410133 91988445 (11.5%) Gross profit (HK$’000) 11304123 12034675 (6.1%) Profit attributable to owners of the Company (HK$’000) 3184939 4293484 (25.8%) Non-HKFRS measure: Adjusted net profit attributable to owners of the Company (HK$’000) (Note 1) 3965514 4144052 (4.3%) Basic earnings per share (in HK$) 0.59 0.80 (25.8%) Net cash flow from operating activities (HK$’000) 11340195 10027284 13.1% Free cash flow (HK$’000) 4288773 2519991 70.2% Operational performance Number of piped-gas projects 662 661 0.2% Connectable residential users for city gas projects (million households) 54.4 53.9 0.9% Penetration rate of residential users for city gas projects (%) 70.9% 68.6% 2.3 pts Total natural gas sale volume (million m3) 41698.4 39249.1 6.2% Natural gas sold through city and township gas projects 23513.1 23004.3 2.2% Natural gas sold through direct-supply pipelines and trade 18185.3 16244.8 12.0% Sales of natural gas in city and township gas projects (customer breakdown) (million m3) Residential 8666.6 8382.8 3.4% Industrial 11249.3 11211.5 0.3% Commercial 3127.5 2887.2 8.3% CNG/LNG stations 469.7 522.8 (10.2%) New connections Residential 1656570 2299452 (28.0%) City gas projects 1588358 2072089 (23.3%) Township gas projects 68212 227363 (70.0%) Industrial 2368 2300 3.0% Commercial 30263 31671 (4.4%) Accumulated number of connected customers and gas stations Residential 47051267 45394697 3.6% City gas projects 38558358 36970000 4.3% Township gas projects 8492909 8424697 0.8% Industrial 24476 22108 10.7% Commercial 359598 329335 9.2% CNG/LNG stations 516 533 (3.2%) – 19 –Note 1: “Adjusted net profit” is defined as the profit for the year excluding other gains and losses of the Group and the Group’s share of exchange losses of Zhongyu Energy for the year. “Adjusted net profit” is a non-HKFRS measure.As items within other gains and losses of the Group and exchange losses of Zhongyu Energy are not directly related to the Group’s business activities and are not reflective of the core operating performance of the Group the Company considers that presenting the adjusted net profit attributable to the owners of the Company would provide shareholders and potential investors of the Company with supplementary information on the performance of theGroup’s core operations. Please refer to the section headed “Reconciliation of Non-HKFRS Measure to the NearestHKFRS Measure”.New Projects During the financial year in line with prudent investing as always the Group acquired one new city and township piped gas projects. As of 31 March 2024 the Group had obtained 662 piped gas projects with concession rights in 30 provinces municipalities and autonomous regions in China on top of 32 long- distance natural gas pipeline projects 516 CNG and LNG refilling stations for vehicles one coalbed methane development project and 119 LPG distribution projects.Natural Gas Pipeline Construction and Connections For gas distributors city gas pipelines stand as the keystone of all. By building major and branch pipelines the Group connects its gas network to residential industrial and commercial users charging connection fees and gas bills.As of 31 March 2024 the Group had built a gas pipeline network totalling 554755 km.User Acquisition Given the blow from the sluggish housing market at home the drop in user acquisition lingered on in the gas industry. During the year the Group grew residential connections by 1656570 households down by approximately 28.0% year-on-year; as of 31 March 2024 the accumulated connections of residential users was 47051267 up by approximately 3.6% year-on-year.During the year the Group connected 2368 new industrial users and 30263 new commercial users. As of 31 March 2024 the Group had cumulatively connected 24476 industrial users and 359598 commercial users representing a year-on-year increase of approximately 10.7% and 9.2% respectively.Users in the Transportation Sector (CNG and LNG Refilling Stations for Vehicles and Vessels) As of 31 March 2024 the Group boasted 516 CNG and LNG refilling stations for vehicles. The speed- up of EV evolutions hurt the market of natural gas vehicles (NGVs) which left the retail consumption and customer bases of CNG and LNG refuelling stations shrinking year by year despite the still-stable gas consumption by heavy duty trucks and speciality NGVs. To keep itself up with such shifts the Group has been re-gearing itself promptly – for one thing moving fast to revitalise assets while partnering with upstream resource providers for quality resources and securing downstream customers; for another working on and finetuning its portfolio nonstop to evolve some refuelling stations into hybrid-energy stations with “oil and electricity as the main offer supplemented by gas and hydrogen”.– 20 –Natural Gas Sales 2023 stood as a milestone for the materialisation of the 14th Five-Year Plan in China a country prioritised ensuring energy security enhancing the resilience of energy systems and moving into a green and low-carbon future as its paramount objectives. The country went further in building systems of natural gas production supply storage and sales worked to keep gas supply and prices stable and boosted the storage and production of natural gas as well as the transmission capabilities nurturing its economic rebounds. According to the National Energy Administration the apparent natural gas consumption in China in 2023 amounted to 394.53 billion m3 up 7.6% year-on-year. The natural gas production in China hit 235.3 billion m3 (including shale gas coalbed methane and synthetic natural gas (SNG)) a year-on-year increase of 5.7% signifying a rise in production of over 10 billion m3 for seven consecutive years.The Group rounded off the year with total natural gas sales of 41.70 billion m3 up by 6.2% year-on- year which furthered such stable growths. Sales of natural gas is principally through city and township pipelines trading and direct-supply pipelines. Sales via city and township pipelines accounted for 23.51 billion m3 up 2.2% year-on-year while trading and direct-supply pipelines contributed 18.19 billion m3 up 12.0% year-on-year.LPG The proliferating persistently steady climb of LPG use among rural and suburban residents the persistently steady climb of LPG demand from industrial and commercial users and the surging demand for LPG as raw materials for petrochemical synthesis and deep processing have been pushing up the LPG demand step by step.In its LPG segment single-minded on advancing quality and efficiency of services in the industry China Gas prides itself with the most extensive network of LPG import and intelligent distribution in China as the country’s largest integrated LPG operator and service provider with the most rounded industrial chain.With an LPG arm stretching across 22 provinces municipalities and autonomous regions in China the Group operates five LPG terminals and six large storage and logistics bases for petrochemical products which come with an annual throughput capacity of over 10 million tons and a total storage capacity of over 800000 m3 for LPG. Crafted with its competitiveness in resources at home and abroad its business mostly in industrial supplies supplemented by residential ones spans all the way across the industry chain from international and domestic resource procurement to international and domestic trading from ocean shipping to wharf loading and unloading from tank farm storage to in-park processing from road logistics to refuelling-specific retail and store-based distribution.To arm itself with a stronger foothold in the upstream and a more solid grasp in international trading the Group rearchitected its international trade team and risk control system for trading. Also carved out were leaps in direct procurement international and international trading. Its midstream initiatives were about market-oriented operation of warehousing and logistics well escalated along with warehousing and logistics resources pooled for gradual pickups in turnover rates. Augmentation was also embedded – 21 –in its domestic distribution capabilities through digitalisation as it unfolded the building of its domestic trading and transportation platform on which its domestic distribution warehousing and logistics went smoother and faster. And a close-up of its downstream actions would feature innovative business models blended with asset-light models the terminal investment model finetuned through constant upgrades and investment tools diversified for higher-quality development of its terminal business.During the financial year the Group’s LPG sales volume amounted to 3.996 million tons representing a year-on-year decrease of 3.3% of which the wholesale volume sit at 3.222 million tons representing a year-on-year decrease of 5.1% while end-user retail hit 0.774 million tons a year-on-year growth of 5.3%. During the financial year the LPG sales revenue totalled HK$17980918000 (for the year ended 31 March 2023: HK$22499530000) decrease 20.1% year-on-year. Operating profit amounted to HK$120064000 (for the year ended 31 March 2023: HK$67889000) representing a year-on-year increase of 76.9%.Value-Added Services At China Gas the ever-mounting connection rate has been prompting expansions of its user base behind which stands substantial added value. In its VAS ecosystem an ever-growing one carved out were its business models for VAS and platforms for new retail all tailored for the gas industry. The day-to-day operations of its VAS also supercharged its burgeoning VAS operations.Its VAS activities during the year could be epitomised by enhancement in the traditional business mix covering kitchen products gas safety products as well as other services and products which reached more customers by virtue of this. Hence cemented were its main offerings for customers. Such boundary- pushing was also in its innovative businesses where market opportunities went well seized with its fast moves in offering home renovation electronic appliances household services top product selections and beyond. This is how its VAS segment tapped into fresh growth engines and carved out more user needs.During the fiscal year the Group’s revenue from value-added services amounted to HK$3654898000 representing a year-on-year increase of 5.8%; and operating profit amounted to HK$1582032000 representing a year-on-year increase of 5.7%. Despite the still-low penetration rate of China Gas’s VAS in the business’s growing reach channel-backed and its transition toward online new retail there lies tremendous potential yet to unleash.Integrated Energy A crucial vehicle to move the energy sector to a lower-carbon future integrated energy serves as a fundamental recipe to carbon peak and carbon neutrality higher energy efficiency and lower energy costs which seamlessly catches the present and future energy trends in China.– 22 –Over the years the Group’s strong presence in gas projects and its extensive user base have been supercharging the market share of its new energy arm powered by growth both outward and inward.During FY2023 the Group leaned in to engineer development models of integrated energy services and defined its orientation and objectives with its development priorities at the core. Its FY2023 actions are also in the investment in and operations of diverse businesses such as energy storage for industrial and commercial users distributed photovoltaics energy saving for boilers energy saving for industrial and commercial users energy efficiency of buildings charging piles and biomass energy supply. FY2023 also recorded its electricity sales and the fast expansion of its green electricity certificates factor libraries virtual power plants and other offerings. This is how it served customers with efficient integrated energy catering to their diverse needs for gas heat electricity and cooling.As of the end of the fiscal year the total installed capacity contracted of integrated energy efficiency reached 221.6 MWH of which the completed energy storage for industrial and commercial users was 112.7 MWH. Human Resources Well-trained professionals are what businesses thrive on. Hence the Group’s management has always been human-centred. In talent nurturing and team building already with a full-fledged talent acquisition and internal training system it has been growing the share of young employees in its staff for an ever- younger workforce company-wide. With external-certificate obtainment and internal accreditation schemes rolling in full steam it has been building duty-oriented expertise for a workforce where one performs better and delivers more. Up and running are also its platforms for vocational training knowhow and experience exchanges as engines of career fulfilment and contentment hence more China Gasers of excellence joining and staying.In respect of remuneration policies the Group takes into consideration the personal qualification and professional experience of its employees as well as the specific remuneration levels of industry peers and the local job market. In addition to basic salaries and pension fund contributions benefits such as discretionary bonuses rewards share options or share awards are also granted to eligible employees based on the Group’s financial results and their performance.For the Group a firm always places outstanding employees at the heart of sustainable development for businesses it will continue to pay attention to employees’ development and establish more exchange platforms incentive mechanisms and training programmes to empower employees in achieving personal growth and improvement thus injecting more doses of contributions and wisdom into the Group’s story ahead.– 23 –Financial Review For the year ended 31 March 2024 the Group’s turnover amounted to HK$81410133000 (for the year ended 31 March 2023: HK$91988445000) representing a year-on-year decrease of 11.5%. The gross profit amounted to HK$11304123000 (for the year ended 31 March 2023: HK$12034675000) representing a year-on-year decrease of 6.1%. The overall gross profit margin was 13.9% (for the year ended 31 March 2023: 13.1%). Profit attributable to owners of the Company amounted to HK$3184939000 (for the year ended 31 March 2023: HK$4293484000) representing a year-on-year decrease of 25.8%.Earnings per share amounted to HK59 cents (for the year ended 31 March 2023: HK80 cents) representing a year-on-year decrease of 25.8%.Reconciliation of Non-HKFRS Measure to the Nearest HKFRS Measure To supplement our consolidated results which were prepared and presented in accordance with HKFRS the Group also uses adjusted net profit as an additional financial measure which is not required by or presented in accordance with HKFRS. We believe that this non-HKFRS measure facilitates comparisons of operating performance from period to period and company to company by eliminating potential impacts of items that our management does not consider to be indicative of our operating performance such as certain non-cash or one-off items and exchange losses. The use of this non-HKFRS measure has limitations as an analytical tool and one should not consider it in isolation from or as a substitute for analysis of our results of operations of financial conditions as reported under HKFRS. In addition this non-HKFRS measure may be defined differently from similar terms used by other companies.Adjusted net profit represents profit for the year adjusted to exclude (i) other gains and losses of the Group; and (ii) share of exchange losses of Zhongyu Energy by the Group for the reporting period.The following tables set forth the reconciliation of our non-HKFRS measure for the year ended 31 March 2024 and 2023 to the nearest measures prepared in accordance with HKFRS: 31 March 31 March 20242023 HK$’000 HK$’000 Profit for the year (i.e. nearest HKFRS Measure) attributable to owners of the Company 3184939 4293484 Add (less): other gains and losses of the Group 763954 (344502) Add: share of exchange losses of Zhongyu Energy by the Group 16621 195070 Adjusted net profit (i.e. non-HKFRS measure) attributable to owners of the Company 3965514 4144052 – 24 –Finance Costs For the year ended 31 March 2024 the f inance costs increased by 14.4% to approximately HK$2121753000 from approximately HK$1855358000 last year. The rise in finance costs for the year was mainly due to the increase in the average financing costs of US dollar and Hong Kong dollar debt.Share of Results of Associates For the year ended 31 March 2024 the share of results of associates amounted to HK$297253000 (for the year ended 31 March 2023: HK$344838000).Share of Results of Joint Ventures For the year ended 31 March 2024 the share of results of joint ventures amounted to approximately HK$398389000 (for the year ended 31 March 2023: loss of approximately HK$100983000).Income Tax Expenses For the year ended 31 March 2024 the income tax expenses decreased by 17.8% to HK$759558000 (for the year ended 31 March 2023: HK$923578000).Free Cash Flow During the year the Group had a net operating cash flow of HK$11340195000 (for the year ended 31 March 2023: HK$10027284000) and a free cash flow of HK$4288773000 (for the year ended 31 March 2023: HK$2519991000) by effectively controlling CAPEX and boosting capital recovery.Liquidity The Group’s primary business generates cash flow in a steadily growing manner. Coupled with an effective and well-established capital management system the Group has maintained sound business development and healthy cash flow despite uncertainties in the macro-economy and capital market.As of 31 March 2024 the Group’s total assets amounted to HK$148697724000 (31 March 2023: HK$157291209000). Bank balances and cash amounted to HK$8280335000 (31 March 2023: HK$10617686000). The Group had a current ratio of 0.90 (31 March 2023: 1.01). The net gearing ratio was 0.79 (31 March 2023: 0.76) as calculated on the basis of net borrowings of HK$48253194000 (total borrowings of HK$59065355000 less the short term trade-related facility of HK$2531826000 and bank balances and cash of HK$8280335000) and net assets of HK$60747353000 as of 31 March 2024. The Group follows a prudent financial management policy under which the majority of its available cash is deposited in reputable banks as current and fixed deposits.– 25 –Financial Resources The Group has actively built lasting ties with Chinese (including Hong Kong) and overseas banks.As the principal banks partnering with the Group Industrial and Commercial Bank of China Bank of Communications China Construction Bank Agricultural Bank of China Industrial Bank and Postal Savings Bank of China have provided the Group with medium-to-long-term credit facilities of over RMB70 billion under a maximum term of 15 years. Other major domestic and overseas banks such as Bank of China Shanghai Pudong Development Bank China CITIC Bank Asian Development Bank (ADB) HSBC Mitsubishi UFJ Financial Group (MUFG) Sumitomo Mitsui Banking Corporation (SMBC) as well as Australia and New Zealand Banking Group (ANZ) have also granted long-term credits to the Group. As of 31 March 2024 over 40 banks offered composite facilities to the Group such as credit facilities project loans syndicated loans supply chain financing trade facilities and bond underwriting. Such bank loans are generally applied to finance the Group’s operations and project investments and construction.The Company acting as an overseas issuer and the Group’s wholly-owned subsidiaries incorporated in China are all active in issuing RMB bonds on stock exchanges and interbank bond markets in China.As of 31 March 2024 the remaining balance of the RMB corporate bonds and medium-term RMB notes issued by the Group amounted to RMB7.70 billion.As of 31 March 2024 the Group’s total bank loans and other loans amounted to HK$59065355000 of which the short term trade-related facility was HK$2531826000.The Group’s operating and CAPEX has been financed by operating cash flow indebtedness and equity financing. The Group has maintained a sufficient source of funds to fulfil its future CAPEX and working capital requirements.Foreign Exchange and Interest Rate With a focus placed on risk management and control the Group closely monitors the trends of market interest rates and foreign exchange rates adjusting its debt structure in a timely and reasonable manner for the purpose of effective risk aversion. In particular the Group under strict exchange rate policies adjusts domestic (RMB) and foreign currency debt structures flexibly and offsets risks from a small portion of foreign currency debt by leveraging exchange rate and interest rate hedging and other derivatives in order to significantly reduce potential exchange rate risk. In addition the Group implements rigorous foreign currency debt control measures which mitigate the effect of exchange rates on its performance to a large extent. These measures have ensured the Group’s healthy development under exchange rate fluctuations and bolstered its risk management.Cash Flows Contract Assets/Liabilities Trade Receivables and Trade and Bill Payables As of 31 March 2024 the Group had contract assets of HK$10260982000 (31 March 2023: HK$12706697000) contract liabilities of HK$8568261000 (31 March 2023: HK$9080132000) trade receivables of HK$5623799000 (31 March 2023: HK$6282627000) and trade and bill payables of HK$12969934000 (31 March 2023: HK$14647872000).– 26 –During the year the Group further managed investments with prudence by controlling the growth of contract assets and trade receivables while managing its operating and free cash flows effectively to continue to improve its free cash flows throughout the year.Charge on Assets As of 31 March 2024 the Group pledged property plant and equipment and investment properties of HK$8562336000 (31 March 2023: HK$5907983000) and pledged bank deposits of HK$185999000 (31 March 2023: HK$178696000) and certain subsidiaries pledged their equity investments to banks to secure loan facilities.Capital Commitments As of 31 March 2024 the Group had capital commitments in respect of the acquisition of property plant and equipment construction materials for property plant and equipment and properties under development contracted for but not provided in the consolidated financial statements amounting to HK$132262000 (31 March 2023: HK$179574000) HK$85156000 (31 March 2023: HK$134206000) and HK$171213000 (31 March 2023: HK$235176000) respectively which would require the utilisation of the Group’s cash on hand and external financing. It had undertaken to acquire shares of certain Chinese enterprises and set up joint ventures in China.Contingent Liabilities As of 31 March 2024 the Group did not have any material contingent liabilities (31 March 2023: nil).CORPORATE GOVERNANCE The Company complied with the code provisions (the “Code Provision”) set out in the Corporate Governance Code contained in Appendix C1 to the Listing Rules throughout the financial year ended 31 March 2024 except for the deviations for the following: Code Provision C.2.1 Under the Code Provision C.2.1 the roles of chairman and chief executive should be separate and performed by different individuals. Under the current structure of the Company the functions of chief executive officer are performed by the Chairman Mr. LIU Ming Hui. Mr. LIU provides leadership for the Board and undertakes the management of the group’s business and overall operation with the support from other executive directors vice presidents and senior management. The Board considers that this structure will not impair the balance of power and authority between the Board and the management of the Company and has been effective in discharging its functions satisfactorily. The Board will review the reasonableness and effectiveness of the structure from time to time.– 27 –COMPLIANCE WITH THE MODEL CODE The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the “Model Code”) as set out in Appendix C3 to the Listing Rules and all the Directors confirmed that they have complied with the required standards set out in the Model Code throughout the financial year ended 31 March 2024. REVIEW OF ANNUAL RESULTS The Audit Committee of the Board has reviewed the accounting principles and practices adopted by the Group and the annual results for the year ended 31 March 2024.PURCHASE SALE OR REDEMPTION OF THE COMPANY’S SHARES For the year ended 31 March 2024 the Company and its subsidiaries repurchased a total of 4762600 Shares of the Company on The Stock Exchange of Hong Kong Limited at an aggregate repurchase cost of HK$43911086 inclusive of total consideration paid of HK$43723460 and related transaction costs of HK$187626.Details of the Shares repurchased by the Company are set out below: Total number Aggregate of Shares Price per Share consideration Month repurchased Highest Lowest paid HK$ HK$ HK$ May 2023 476260 0 9.31 9.01 4372346 0 Total 476260 0 4372346 0 All the above repurchased Shares had been cancelled. The repurchase aimed to increase the net assets per share and earnings per share.Save as disclosed above neither the Company nor any of its subsidiaries purchased sold or redeemed any of the Group’s listed securities during the year ended 31 March 2024.– 28 –PUBLICATION OF INFORMATION ON THE WEBSITES OF HONG KONG EXCHANGES AND CLEARING LIMITED AND THE COMPANY The results announcement is required to be published on the websites of Hong Kong Exchanges and Clearing Limited (“HKEX”) at www.hkex.com.hk under “Latest Listed Company Information” and the Company at www.chinagasholdings.com.hk under “Announcements” respectively. The annual report of the Company for the year ended 31 March 2024 will be dispatched to the shareholders and published on the websites of HKEX and the Company in due course.On behalf of the Board China Gas Holdings Limited LIU MING HUI Chairman and President Hong Kong 24 June 2024 As at the date of this announcement Mr. LIU Ming Hui Mr. HUANG Yong Mr. ZHU Weiwei Ms. LI Ching Ms. LIU Chang and Mr. ZHAO Kun are the executive directors of the Company; Mr. XIONG Bin Mr. LIU Mingxing Mr. JIANG Xinhao and Mr. Ayush GUPTA are the non-executive directors of the Company; and Mr. ZHAO Yuhua Dr. MAO Erwan Ms. CHEN Yanyan Mr. ZHANG Ling and Dr. MA Weihua are the independent non-executive directors of the Company.* For identification purpose only –29–