This paper evaluated the actual operating performance of the lithium bromide absorption heat pump system for flue gas waste heat in a gas heating station based on the operation monitoring data of two heating seasons of 2023–2024 and 2024–2025. The results indicate that the system demonstrates a high comprehensive energy efficiency level in both heating seasons. Furthermore, this paper quantitatively analyzed the key operating parameters influencing the coefficient of performance (COP) of the heat pump, namely the flue gas temperature difference of the heat pump and the temperature difference between supply and return water. The analysis clarifies that the COP of the heat pump shows a positive correlation with the flue gas temperature difference and a negative correlation with the temperature difference between supply and return water. Based on the above analysis, this paper successfully constructed a prediction regression model for the COP of the heat pump using the flue gas temperature difference and the temperature difference between supply and return water as input parameters. The results have important engineering application value for guiding the optimization of the operating strategy of the heating station, improving the energy efficiency level of the system, and achieving precise energy-saving regulation.