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THE HONG KONG AND CHINA GAS COMPANY LIMITED

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Hong Kong and China Gas : Towngas receives Outstanding Caring Award and The Most Innovative Award under Industry Cares Recognition Scheme 2021

10/01/2021 | 12:01pm EST

The Hong Kong and China Gas Company Limited (Towngas) is strongly committed to shouldering its corporate social responsibility (CSR). On 28 September, the Company received the Outstanding Caring Award under the Enterprise Group of the Industry Cares Recognition Scheme 2021. Faced by the epidemic, Towngas has responded to the new normal by applying innovative sustainable measures to host diverse CSR activities, which also earned it The Most Innovative Award under the Enterprise Group. Hosted by Federation of Hong Kong Industries, the Industry Cares Recognition Scheme aims to recognise corporations which continued to address the needs of stakeholders and various sectors of society despite the epidemic, thereby instilling positive energy and warmth in the community.

Affected by COVID-19, many underprivileged families saw their income reduce as a result of unemployment or under-employment. Towngas joined Christian Family Service Centre early last year in launching the 'Love on Delivery' programme, which provided fresh and nutritious food packs twice a week to families in need with a view to reducing their food expenses. The programme also established a dedicated online social platform to share useful information in spite of social distancing. At the food pack distribution points, social workers were also able to contact people in need who were less reachable due to the epidemic to maintain communication and offer help. To date, the programme has donated a cumulative total of 48,000 fresh food packs to more than 1,800 families. Towngas believes that the programme offers not only food but more importantly warmth and care for underprivileged families during the epidemic by enhancing support through connecting with them and fostering cohesion via the social platform.

Another of Towngas' key CSR initiatives is 'Farming for Charity'. Launched in 2013, the programme welcomes Towngas volunteers and retired staff as well as their family and friends to organic farming activities every Saturday morning. During the epidemic, the volunteers persisted in farming every week while practising anti-coronavirus measures. The resulting harvest is donated to the underprivileged or for charity sale in order to give back to society. Towngas also collaborates with social welfare organisations to host organic farming experiences for various groups led by trained volunteers in order to disseminate messages of health and environmental protection. When the epidemic slowed this year, Towngas cooperated with St James' Settlement and invited students with special educational needs and their family to experience gardening therapy at the farm.

Through learning to sow seeds, make fertiliser, turn soil and harvest, participants tried their hand at farming and got close to nature with a view to improving the students' issues such as hyperactive and attention deficit disorders as well as stimulating creativity and imagination. In addition, Towngas continued its efforts to create shared value for different stakeholders and tackle difficulties together during the epidemic. In response to the rising local unemployment rate, Towngas tailored the 'Unemployment Support Programme' in the middle of last year to offer around 60 short-term positions to alleviate participants' financial burden.

Upon training, participants were able to help with work such as gas riser inspection and loyalty membership platform promotion. In support of the food and beverage industry devastated by the epidemic, Towngas offered complimentary application and distribution of photocatalytic long-acting disinfectant for eateries in Hong Kong and launched a kitchen equipment rental and purchase scheme for small- and medium-sized eateries. Going forward, Towngas will continue its efforts in and advocacy for CSR and instil the relevant principles in its operation strategy and management policies, in addition to striving for its CSR vision through giving back to society and creating shared value for stakeholders.

Contact:

Corporate Affairs & Investor Relations Department

15/F, 363 Java Road, North Point, Hong Kong

Fax: 2516 7368

Email: cad@towngas.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 48 472 M 6 213 M 6 213 M
Net income 2021 7 965 M 1 021 M 1 021 M
Net Debt 2021 39 472 M 5 060 M 5 060 M
P/E ratio 2021 27,2x
Yield 2021 3,02%
Capitalization 221 B 28 393 M 28 369 M
EV / Sales 2021 5,38x
EV / Sales 2022 4,87x
Nbr of Employees 54 031
Free-Float 58,2%
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Number of Analysts 11
Last Close Price 11,86 HKD
Average target price 12,77 HKD
Spread / Average Target 7,66%
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Managers and Directors
Wing Kin Chan Managing Director & Executive Director
Wei Yi Huang GM, Chief Operating Officer & Director
Hon Ming Ho CFO, Secretary & Executive Director
Ka Shing Lee Co-Chairman
Ka Kit Lee Co-Chairman