ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Mar 31, 2020 13:50 JST
Source:
Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited Announces 2019 Annual Results
Revenue Increased by 7.3% to HKD384.9 million
HONG KONG, Mar 31, 2020 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246.HK) together with its subsidiaries (collectively as the "Group") today announces its 2019 annual results. For the year ended 31 December 2019 ("the Current Year"), the Group recorded a 7.3% year-on-year increase in total revenue from continuing operations, from HKD366.7 million in the Previous Year to HKD384.9 million. The New Energy Business contributed over 99.9% to the Group's total revenue. Profit and total comprehensive income attributable to owners of the Company decreased by 46.7%, from HKD94.6 million for the Previous Year to HKD49.4 million for the Current Year. Basic and diluted earnings per share for the Current Year was HKD1.5 cents and HKD1.3 cents respectively, as compared to HKD2.7 cents and HKD2.6 cents in the Previous Year. The Board did not recommend the payment of any dividend for the Current Year (Previous Year: HKD0.5 cent per ordinary share).
The main reasons for the drop in the gross profit ratio and net profit were that the liquefied natural gas ("LNG") supplies had a lower gross profit margin and an expected credit losses provision was made for the trade receivables at RMB9.4 million (Previous Year: Nil). Moreover, the government subsidy was also reduced by RMB7.3 million for the Current Year.
During the Current Year, the Group focused on the expansion of the New Energy Business in terms of strengthening LNG supply during the heat supply period and enhanced its sales platforms and capabilities. The Group continued to obtain and complete a number of construction related and consultancy contracts. The subsidiary that operated LNG supply and related businesses brought stable income to the Group. The rental and management fees from LNG storage tanks and trading of new energy related industrial products were also other income sources for the Group.
The Group has been seeking new partnership in different regions, aiming to adopt a win-win strategy through co-exploring the LNG markets and securing stable LNG supplies with an extended and strong supply chain. At the end of last year, the Group successfully cooperated with Shanghai Jiulian Group, a wholly-owned subsidiary of the Shanghai Shenergy Group. Both parties agreed to form a Joint Venture to secure the supply of LNG resources and develop the business into the high potential market in the Yangtze River Delta region. Meanwhile, the Group continued to maintain strong business relationships with Tractebel Engineering S.A. from France and Tianjin Jinre Heat-Supply Group Co. Ltd.
Looking ahead, the Group will adopt a prudent business approach in near term to cope with the impact of COVID-19. The Group will actively identify suitable opportunities to develop any existing and new construction related and consultancy business. It will also cautiously execute strategic plans to enlarge its business scopes and take steps to gradually grow the scale of the LNG supply business, forge comprehensive partnership in the new energy sector as well as search for the PRC and international LNG suppliers to enrich its product portfolio. The Group's determination to become a leading diversified and integrated new energy service provider in the PRC remains unchanged. It will concentrate on extending its New Energy business coverage to other major cities in the PRC and be committed to broadening its income streams to achieve sustainable profitability and assuring the supply of LNG resources.
About 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, supply of liquefied natural gas, coupled with trading of new energy related industrial products. The Group is also engaged in the property investment business.
Source: Zhonghua Gas Holdings Limited
Sectors: Daily Finance, Energy, Alternatives, Daily News, Oil & Gas
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
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
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 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 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
Zhonghua Gas Holdings Limited Announces Positive Profit Alert for 2019 First Quarter
April 26 2019 10:30 JST
More Press release >>