Mission Statement, Vision, & Core Values (2025) of The Hong Kong and China Gas Company Limited.

An Overview of The Hong Kong and China Gas Company Limited

General Summary of The Hong Kong and China Gas Company Limited

The Hong Kong and China Gas Company Limited (HKCG) was established in 1862, making it one of the oldest public utilities in Hong Kong. The company primarily provides gas services and has diversified its operations into energy production and distribution, water supply, and environmental services. As of 2024, HKCG serves over 2.5 million customers with a comprehensive range of products including town gas, liquefied petroleum gas (LPG), and various other energy solutions.

In recent years, the company has expanded its footprint in mainland China, bolstering its position in the natural gas sector. It operates in several key cities, contributing to a significant portion of its revenue. As of 2024, HKCG reported annual sales of approximately HKD 34 billion, driven by a growth in both domestic and commercial sectors.

Company's Financial Performance in the Latest Financial Reports

In the latest financial report for the fiscal year ending December 31, 2023, HKCG recorded a substantial revenue of HKD 34 billion, marking an increase of 8% from the previous year. The growth was primarily attributed to a rise in sales of natural gas, which represented approximately 70% of the total revenue.

Net profit also saw an impressive uptick, reaching HKD 6.5 billion, a growth of 10% year-over-year. The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to HKD 10.2 billion, reflecting a robust operational performance.

Introduction to Company as a Leader in the Industry

HKCG stands out as a leader in the energy and utility sector, thanks to its extensive experience and innovative approach to energy solutions. The company's commitment to sustainability and efficiency has positioned it favorably in the market, allowing it to adapt to changing energy demands. HKCG is continuously investing in renewable energy projects, aiming to contribute to a greener future while ensuring reliable services for its customers.

The company's diversified portfolio not only strengthens its market position but also enhances resilience against economic fluctuations. Investors and stakeholders interested in understanding the factors behind HKCG's success are encouraged to explore its diverse operations and strategic initiatives further.

Mission Statement of The Hong Kong and China Gas Company Limited

Mission Statement Overview

The Hong Kong and China Gas Company Limited (Towngas) articulates a mission statement that reflects its commitment to high-quality service and environmental sustainability. This mission statement serves as a guiding principle for the company as it navigates the complexities of the energy sector while aiming to meet the needs of its customers and stakeholders.

Core Component 1: Quality of Service

Towngas emphasizes its dedication to providing high-quality products and services. This is reflected in its operational strategies and customer relations. As of 2023, Towngas has achieved a customer satisfaction rate of 89%, demonstrating its effectiveness in meeting customer expectations.

The company’s focus on service quality is supported by investing in modern infrastructure. For example, Towngas has allocated approximately HKD 3 billion for upgrading its pipeline networks in the past three years, enhancing the reliability of its gas supply.

Core Component 2: Environmental Responsibility

Another critical component of Towngas's mission is its commitment to environmental sustainability. The company has pledged to reduce its carbon emissions by 25% by 2030, aligning with global climate targets. In 2022, Towngas reported emissions of 1.02 million tonnes of CO2 equivalent, down from 1.35 million tonnes in 2020.

This commitment is further exemplified by Towngas's investment in renewable energy initiatives, with a target of generating 10% of its total energy supply from renewable sources by 2025. As of 2023, renewable energy accounted for 8% of the company’s energy mix.

Core Component 3: Community Engagement

Towngas places significant importance on community relationships and engagement. The company’s initiatives include educational programs and sponsorships that aim to foster a stronger community bond. In 2022, Towngas contributed approximately HKD 100 million to community projects, including scholarships and environmental conservation efforts.

Towngas’s community engagement is reflected in its volunteer programs, where employees logged over 10,000 hours of community service in the past year, demonstrating commitment beyond business operations.

Vision Statement of The Hong Kong and China Gas Company Limited

Vision Statement Overview

The Hong Kong and China Gas Company Limited (Towngas) aims to be a leader in energy solutions and environmental protection, positioning itself as a key player in sustainable development across its markets.

Commitment to Sustainability

Towngas pledges to prioritize sustainability in its operations. The company has set ambitious targets, aiming for a 30% reduction in greenhouse gas emissions per unit of output by 2030. In 2023, Towngas reported a total greenhouse gas emissions of approximately 2.5 million tonnes.

Innovation in Energy Solutions

The vision emphasizes the integration of innovative technology in energy delivery. In 2024, Towngas invested HKD 1.2 billion in smart energy solutions, including 1 million smart meters installed across Hong Kong. This initiative is expected to improve efficiency by 15%.

Enhancing Customer Experience

To enhance customer satisfaction, Towngas aims to achieve a Net Promoter Score (NPS) of over 70 by 2025. The latest survey results from 2023 indicated an NPS of 65, reflecting a commitment to service improvement.

Community Engagement and Corporate Social Responsibility (CSR)

The company focuses on community engagement, with a target of investing HKD 50 million annually in local community projects. In 2023, Towngas supported more than 200 community initiatives.

Global Presence and Market Expansion

Towngas aims to expand its global footprint, targeting 5 new markets by 2025. As of 2023, operations were established in regions including China, Taiwan, and Southeast Asia, with a customer base exceeding 12 million.

Employee Engagement and Development

The company values its workforce, striving for an employee satisfaction rate of over 80%. In 2023, Towngas reported an employee satisfaction score of 77%, indicating room for improvement in workforce engagement.

Core Values of The Hong Kong and China Gas Company Limited

Safety

The Hong Kong and China Gas Company Limited (Towngas) places a strong emphasis on safety as a core value. This commitment is not only about protecting employees but also ensuring the safety of customers and the community. In 2023, Towngas achieved a 0.10 reportable incident rate, reflecting its ongoing focus on enhancing workplace safety.

To uphold this value, Towngas has implemented several initiatives:

• Regular safety training for over 3,000 employees, enhancing their knowledge and ability to respond to emergencies.
• Investment in advanced safety technologies, including remote monitoring systems to detect gas leaks.
• Community outreach programs to educate the public on gas safety, impacting over 50,000 residents annually.

Environmental Stewardship

Towngas recognizes the importance of environmental sustainability and strives to minimize its carbon footprint. In 2023, the company aimed for a 30% reduction in greenhouse gas emissions by 2030 compared to 2019 levels.

Concrete steps Towngas has taken include:

• Investment of approximately HK$1 billion in renewable energy projects, including solar and biogas initiatives.
• Implementation of energy-efficient technologies, which have resulted in an average energy savings of 15% across operations.
• Partnership with local universities to promote research on sustainable energy solutions.

Innovation

Innovation is a vital aspect of Towngas's strategy. The company invests significantly in research and development to stay ahead in the energy sector. In 2023, Towngas allocated HK$200 million for R&D initiatives.

Examples of Towngas's commitment to innovation include:

• Introduction of Smart Energy Management Systems that have improved operational efficiency by 20%.
• Development of smart meters for gas consumption, enhancing customer experience and data accuracy.
• Collaboration with tech startups to explore the use of AI in energy consumption analytics.

Customer Focus

A strong customer-centric approach is fundamental at Towngas. The company has consistently achieved high customer satisfaction ratings, with a 90% satisfaction rate reported in 2023.

Key initiatives under this core value include:

• Launch of the Customer Service App, which has garnered over 100,000 downloads, allowing for easier bill payment and service requests.
• Establishment of a dedicated customer service hotline, resolving 95% of inquiries on the first call.
• Regular customer feedback surveys, resulting in actionable insights that have led to service enhancements.

Integrity

Towngas is committed to conducting business with integrity, ensuring transparency in all operations. The company adheres to a strict code of ethics that was reviewed and reinforced in 2023.

Actions demonstrating this core value include:

• Establishment of an independent audit committee that ensures compliance with financial regulations.
• Annual sustainability reports detailing financial performance, environmental impact, and social responsibility initiatives.
• Training programs on ethical standards for all employees, impacting over 3,500 personnel every year.