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Friday, 26 April 2019, 10:30 HKT/SGT

Source: Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited Announces Positive Profit Alert for 2019 First Quarter

HONG KONG, Apr 26, 2019 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces the positive profit alert for the three months ended 31 March 2019 (the "2019 First Quarter"). Based on the information currently available to the Board of Directors and the preliminary review of the relevant unaudited consolidated financial results of the Group for the 2019 First Quarter, the Group is expected to record a significant increase in consolidated net profit for the 2019 First Quarter of approximately 190% as compared to that for the three months ended 31 March 2018.

The Board considered that the significant increase in the 2019 First Quarter's consolidated net profit of the Group was mainly attributable to (i) the increase in revenue and profit in the provision of diverse integrated new energy services and (ii) the decreases in the amortised cost of share-based payments expenses, exchange losses arising from foreign currency and administrative expenses amounted to approximately RMB5 million in total.

In view of the Group's continuous success of the development and expansion of the New Energy business, the Group will stay close eyes on new business opportunities and projects relating to the supply of liquefied and gasified natural gas and other ventures, as well as to pursue new partnerships and collaboration, with an objective to expand the service scopes and market share to cover the Greater China Region ultimately.

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: [email protected]

Topic: Press release summary
Sectors: Daily Finance, Energy, Daily News
From the Asia Corporate News Network

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