HONG KONG, July 31, 2019 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces that the Group is expected to record a significant increase in turnover by approximately 93% and an increase in consolidated net profit for the six months ended 30 June 2019 (the "Current Period") as compared to that for the same period of last year 2018 which is based on the information currently available to the Board and the preliminary review of the relevant unaudited consolidated management accounts of the Group for the Current Period.
The Board considers that the increase in the Current Period's consolidated net profit of the Group was mainly attributable to (i) the increase in revenue and profit in the provision of diverse intergrated new energy services; (ii) the decreases in the selling and distribution expense and the amortized cost of share-based payments expenses, and (iii) a gain on disposal of catering business.
The Group achieves such solid growth reflecting the Group has formulated and executed the right business strategy at the right time. The Group will always continue to look for opportunities to venture into business relating to New Energy business in order to expand the business and market coverage and ultimately to build it into a leading diversified and integrated new energy service provider in the Greater China Region.
Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited is principally engaged in provision of diverse integrated new energy services including technological development, construction 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.
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July 31, 2019 09:00 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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