ZHONGHUA GAS (Zhonghua Gas Holdings Ltd.) reported its audited results for the year ended 31 March 2026, highlighting a sharp reduction in losses, a stronger balance sheet and a significant improvement in liquidity.

Revenue and Profitability • Group revenue fell 35.4% year-on-year to RMB78.50 million, primarily due to a shorter 12-month reporting period versus the previous 15-month comparative and fewer winter-season LNG deliveries in Tianjin. • Despite the revenue decline, gross profit rose 60.2% to RMB7.65 million, lifting gross margin to 9.7% (FY25: 3.9%) on lower LNG procurement costs. • Net loss after tax narrowed to RMB26.15 million from RMB59.99 million in the prior period. Loss attributable to shareholders decreased 61.3% to RMB23.52 million, translating to a basic loss per share of RMB0.04 (FY25: RMB0.13).

Segment Performance • The Energy Business contributed more than 99% of total revenue, with LNG sales in Tianjin and Jiangsu as key drivers. Property Investments generated RMB0.25 million in rental income and maintained a 100% gross margin.

Balance-Sheet Strengthening • Total assets stood at RMB327.64 million, while net assets increased 21.1% to RMB193.34 million. • Cash and cash equivalents surged 907.0% to RMB111.90 million. • Equity attributable to owners rose 29.3% to RMB161.69 million, helped by two loan-capitalisation exercises that converted shareholder loans into equity. • The net gearing ratio improved to 12.4% (FY25: 35.5%), and the current ratio advanced to 2.4 times (FY25: 1.8 times).

Cost and Finance Items • Administrative expenses declined 59.4% to RMB24.49 million, reflecting the absence of prior-period share-based payment charges. • Finance items swung to income of RMB1.70 million, aided by a RMB3.03 million reversal of interest provisions on late payments to suppliers.

Operational Highlights • Energy supply to Tianjin heat-supply companies remained the core revenue stream despite price volatility. • In April 2026 the Group signed an agreement with Tianjin Jin Re New Energy to invest up to RMB80.00 million in a high-pressure natural-gas pipeline project in Jinghai District. • International expansion advanced via a June 2025 memorandum with the Lao Ministry of Industry and Commerce for developing a fuel-oil and gas supply network, followed by a completed feasibility study in May 2026. • Management outlined a multi-pronged strategy: consolidate domestic LNG operations, accelerate the Laos project, and explore Web3-enabled energy-asset tokenisation.

Post-Year Events • On 2 April 2026 the Group agreed to inject US$2.80 million into Gasbit Limited, maintaining a 51% stake to pursue energy-asset digitalisation. • On 30 April 2026 it committed RMB80.00 million to the Jinghai pipeline project; equity conversion is planned after project completion.

Dividend • No dividend was declared for FY26 (FY25: nil).

Outlook statements focus on strengthening the energy portfolio, executing the Laos strategy and leveraging digital technologies; no quantitative guidance was provided.