ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Nov 13, 2018 11:03 JST
Source:
Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited Announces Third Quarter Results for the Nine Months Ended 30 September 2018
Net Profit Substantially Increased by 1,348.3% to HK$39.1 million
HONG KONG, Nov 13, 2018 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces that the third quarter results for the nine months ended 30 September 2018 ("the Current Period"). Revenue of the Group for the Current Period amounted to HK$225.5 million, representing a leap of 75.8% from HK$132.8 million for the Corresponding Period last year. Net profit and total comprehensive income attributable to the owners of the Company recorded a sharp increased by 1,348.3% to HK$39.1 million for the Current Period from HK$2.8 million for the Corresponding Period. Both the increase of revenue and net profit were mainly caused by strong results contribution from its New energy business during the Current Period. Basic and diluted earnings per share for the Current Period was 1.11 HK cents and 1.10 HK cents respectively, as compared to both 0.08 HK cent in the Corresponding Period.
Throughout three years, the Group successfully rolls out its development and expansion of the New energy business through organic growth and acquisition. During the Current Period, the company name was changed to "Zhonghua Gas Holdings Limited" and adopt "Zhonghua Gas Holdings Limited" as the new dual foreign name of the Company, to reflect the intention and determination of the Group to focus on developing the New energy business. The Group will ride on the strong foothold in Tianjin, the People's Republic of China (the "PRC") to expand the market footprint into the whole of the PRC, even extend to the Greater China Region.
In April 2018, the Group entered into a memorandum of understanding with Tractebel Engineering S.A. ("Tractebel") and Tianjin Jinre Heat-Supply Group Co. Ltd ("Jinre Group") for the possible cooperation in the areas of technological and infrastructure related business of the New energy industry. The cooperation was expected to submit a feasible proposal to relevant government agencies in Tianjin on or before 30 September 2018 and the Group signed a supplementary agreement to extend the date to 30 March 2019. It is always the Group's intention to empower itself to expand its business scopes, lift its industry standard as well as improve its service quality through fostering cooperation with both international and domestic resourceful industry players. Therefore, it will continue to seek cooperation with Tractebel and also will reach out to partner with high caliber industry peers to cooperate in different areas of business.
Looking ahead, the Group believes that the government's strong commitment in New Energy state policy will present enormous development opportunities and lay solid foundation for sustainable growth for its New energy business. Group intends to extend its business scopes to develop the supply of liquefied natural gas ("LNG") business, following it obtained a dangerous chemicals business operation license in August this year, the Group maps out execution plans of speeding up to extend its business scopes to develop the supply of LNG via working with LNG suppliers (including overseas suppliers) and has set up a subsidiary to kick off the business. At present, the Group is applying for Gas Business Operation License and prior to obtaining the license, the Group is entitled to rental income and management fee from leasing of the LNG storage tanks and gasification devices from the co-operation partners during the statutory heat supply period in the PRC. The management is working hard to strengthen the team capability and engage suitable and possible cooperation in different areas in order to achieve a more diversified business scope and services, and ultimately develop into a leading diversified and integrated new energy service provider in the Greater China Region.
Regarding the Catering business, the Group will continue to strive to optimize operational efficiency with the implementation of different effective strategies through continuous business integration, in a hope of developing the business steadily. As for property investment, the Group will keep a close eye on any possible premium projects in order to secure long term stable rental income to bring additional income to the Group.
Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited is principally engaged in provision of diverse integrated new energy services including technological development, construction and consultancy services in relation to heat supply and coal-to-natural gas conversion, operation of liquefied natural gas stations, coupled with trading of new energy related industrial products. The Group is also involved in the operation of restaurants and trading of non-staple food; as well as engaged in the property investment business.
Media Contacts:
Angel Yeung
Jovian Communications Ltd
Tel: +852 2581 0168
Email:
news@joviancomm.com
Source: Zhonghua Gas Holdings Limited
Sectors: Daily Finance, Energy, Alternatives, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
JCB enables JCB Contactless acceptance at Taichung MRT in Taiwan
Apr 26, 2024 10:00 JST
Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST
MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST
GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST
Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST
Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST
UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST
Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST
MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST
Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST
NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST
Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST
Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST
NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST
Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST
TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST
Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
More Latest Release >>
Related Release
Zhonghua Gas Holdings Limited Announces Signing Strategic Cooperation Agreement with Jiangsu Shagang Group for Expanding Liquefied Natural Gas Filling Station and Pipeline Gas Supply Business
September 15 2021 08:51 JST
Zhonghua Gas Holdings Limited Announces Completion of the Subscription Agreement of Issuance of Convertible Bonds Amounting to HK$97,800,000
November 18 2020 10:18 JST
Zhonghua Gas Holdings Limited Proposed Issue of Convertible Bonds in the Principal Amount of HK$97,800,000
November 03 2020 09:00 JST
Zhonghua Gas Holdings Limited Announces First Quarter Results for the Three Months Ended 31 March 2020
May 13 2020 09:36 JST
Zhonghua Gas Holdings Limited Announces 2019 Annual Results
March 31 2020 12:50 JST
Zhonghua Gas Holdings Limited Announces Results for the Nine Months Ended 30 September 2019
November 13 2019 09:27 JST
Zhonghua Gas Holdings Limited Announces Signed MOU on LNG Cooperation with Shenergy (Group)'s Wholly-Owned Subsidiary Shenergy Jiulian Group
October 25 2019 09:29 JST
Zhonghua Gas Holdings Limited Announces Audited Results for the Six Months Ended 30 June 2019
August 13 2019 09:27 JST
Zhonghua Gas Holdings Limited Announces Positive Profit Alert
July 31 2019 09:00 JST
Zhonghua Gas Holdings Limited Announces First Quarter Results for the Three Months Ended 31 March 2019
May 10 2019 11:52 JST
More Press release >>