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Beijing Gas Blue Sky announces positive profit alert Expects significant increase in net profit for Annual Results 2016

2017-03-20 07:32
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HONG KONG, March 20, 2017 /PRNewswire/ -- Beijing Gas Blue Sky Holdings Limited ("the Company" or "Beijing Gas Blue Sky", together with its subsidiaries, the "Group", HKSE stock code: 6828) is pleased to announce a positive profit alert. The Company is expected to record a substantial increase in net profit for the year ended 31 December 2016 as compared to the net profit for the same period last year.

The increase is mainly attributable to: (1) the increase in gas sales volume, total revenue and gross profit from the natural gas business of the Group; and (2) the gain recognized on deemed disposal of equity interest in subsidiaries during the Year 2016

Mr. Cheng Ming Kit, Co-Chairman and Executive Director of Beijing Gas Blue Sky Holdings Limited, said, "Our business continued to grow steadily in year 2016. Meanwhile, The Group successfully introduced Beijing Gas Group Co., Ltd. ("Beijing Gas") as our single largest shareholder in May 2016. In the future, we will continue to leverage on the substantial endorsement and integrated strength of Beijing Gas, to explore potential opportunities and to create more synergies with them."

"Furthermore, the Company has recently been included in the indexes is a recognition of our performance in market capitalization, trading volume and liquidity, as well as reflection of the Hong Kong capital market's confidence in the Company. To be included as a constituent of Hang Seng Mainland Oil & Gas Index, and Hang Seng Composite Industry Index -- Energy, is solid proof that the Company has become one of the sizeable and recognizable enterprises in our industry. We believe this will foster Beijing Gas Blue Sky's shareholder diversification, and thus further enhance the circulation of our stock and broaden our shareholder base. The Group will continue to develop and expand in natural gas business, to maximize investors' return."

About Beijing Gas Blue Sky Holdings Limited

Beijing Gas Blue Sky Holdings Limited ("Beijing Gas Blue Sky", HKSE stock code: 6828) is an integrated natural gas provider, distributor and operator, with an emphasis on the midstream and downstream natural gas development. Our natural gas business includes: (i) construction and operation of compressed natural gas ("CNG") and liquefied natural gas ("LNG") refueling stations for vehicles; (ii) construction of natural gas pipelines and operation of city gas projects by providing piped gas; (iii) direct supply of LNG to end-users; and (iv) trading and distribution of CNG and LNG.

The Group has adapted to the "One Belt One Road" policy, and focus on operating and investing natural gas business. The Group is actively expanding its business development and distribution, as well as continues to gradually expanding the scale of operations. Currently, the Group has business presence in several provinces in Northeast China, East China, Central South China and Southwest China, including Liaoning Province, Shandong Province, Anhui Province, Zhejiang Province, Hubei Province, Guizhou Province, Sichuan Province and Hainan Province, etc. The Group is committed to its vision: "develop clean energy, enhance customer value, create a beautiful blue sky". In the future, it will continue to actively investing and developing natural gas business, as well as participating in the development of natural gas industry value chain.

Source: Beijing Gas Blue Sky Holdings Limited

Related stocks: HongKong:6828

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