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Revenue for the first five months generated from the petro-chemical related business exceeds revenue of the Group from last year;
A key milestone for successfully entering into the petro-chemical and natural gas industry |
HONG KONG, June 17, 2015 - (ACN Newswire) - Phoenitron Holdings Limited ("Phoenitron" or together with other subsidiaries, the "Group;" stock code: 8066) announced unaudited key operational figures for the five months ended 31 May 2015. Phoenitron's revenue generated from the sales of petro-chemical products through its indirect non-wholly owned subsidiary Shanghai Phoenitron Petroleum & Chemical Company Limited ("Shanghai Phoenitron") has reached a monthly record high of approximately HK$208.95 million (approximately RMB167.16 million) in May this year.
For the five months ended 31 May 2015, the Group's revenue generated from the petrochemical related business through Shanghai Phoenitron amounted to approximately HK$588.13 million (approximately RMB471.74 million) exceeding the revenue of the whole Group for the year ended 31 December 2014.
Ms. Lily Wu, Chairperson and CEO of Phoenitron, said, "While Shanghai Phoenitron was only established and commenced business in September last year, revenue generated from the sales of petro-chemical products in May alone this year has already surged to a new record high. For the first five months, the Group's revenue generated from the petrochemical related business has exceeded the revenue of the Group for the year 2014, underscoring the success of the Group's strategic transformation to petro-chemical products and the natural gas business."
Ms. Wu continued, "Shanghai Phoenitron was formed by Phoenitron in the latter half of September last year for the purpose of petrochemical product sales and natural gas-related businesses. Following the boost in sales of petro-chemical products, the Group has subsequently signed a cooperation agreement with Jiangsu Huagang Gas, a company indirectly held by KunLun Energy Limited (stock code: 135) near the end of last year to collaborate running an LNG gas station in Shanghai by Shanghai Phoenitron. This outstanding performance confirms the success of the Group's business transformation, and marks a milestone for its entry in the natural gas industry."
Ms. Wu concluded, "The Chinese government has strongly encouraged the development of a low-carbon economy and protection of the environment to achieve sustainable economic development. This supportive policy has provided Pheonitron a huge advantage in the development of the natural gas resources industry. We intend to seize opportunities for collaboration with companies related to the natural gas business in order to realize business growth."
Contact:
Strategic Financial Relations Limited
Heidi So Tel: 852-2864 4826 Email: heidi.so@sprg.com.hk
Grace Lai Tel: 852-2114 4313 Email: grace.lai@sprg.com.hk
Stephanie Liu Tel: 852-2864 4852 Email: stephanie.liu@sprg.com.hk
Fax: 852-2527 1196
Topic: Press release summary
Source: Phoenitron Holdings Limited
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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