|
|
|
|
|
HONG KONG, Dec 11, 2017 - (Media OutReach) - Oceanwide Securities issued a research report on Beijing Gas Blue Sky Holdings Limited ("the Company" or "BGBS", together with its subsidiaries, the "Group", HKSE: 6828) today.
The report states that the Group will receive high quality assets from its largest shareholder Beijing Gas Group Co., Ltd. ("Beijing Gas"), including 29% of a LNG receiving terminal in Caofeidian and 51% of Guangxi Teng County project. With the addition of the newly acquired Shanxi and Jilin city gas projects, it is estimated that it will highly enhance the Company's gas sales volume and profit. Meanwhile, benefit from implementation of coal-to-gas shifting policy, it is expected that LNG direct supply business will grow rapidly in the coming year.
The report states that the LNG receiving terminal in Caofeidian, Hebei Province, is principally engaged in provision of port facilities for vessels of liquefied natural gas; provision of cargo handling services, warehousing and loading services of liquefied natural gas within the port area; receiving, storage and re-gasification of liquefied natural gas. Having achieved a 26.7% YoY growth in FY16's net profit to about RMB166mn, it is expected to maintain a high growth in the coming two years, as well as to deliver stable cash flows and provide LNG at lower costs from overseas. It is also estimated that Guangxi Teng County, Shanxi and Jilin projects will bring significant growth to the Group's overall gas sales volume in 2018.
In addition, LNG direct supply will bring in new opportunities to the Company. BGBS is developing LNG direct supply business in industrial areas in Shandong and Zhejiang. Oceanwide expects to see an explosive revenue growth from this sector in the coming year.
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.
For media inquiries, please contact:
Stimulus Investor Relations Ltd.
Contact: Ms. Hill Ho / Mr. Michael Yeung
Tel: +852 3159 2944 / +852 3159 2994
Email: hill.ho@stimulus-ir.com / michael.yeung@stimulus-ir.com
Topic: Press release summary
Source: Beijing Gas Blue Sky Holdings Limited
Sectors: Energy, Alternatives
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
|
|
|
|
