HONG KONG, Sept 2, 2014 - (ACN Newswire) - China's leading piped-gas operator, China Gas Holdings Limited ("China Gas" or the "Group," stock code: 384), announced that it has been included for the second consecutive time on the Forbes Asia's "Fabulous 50" list ("Forbes Asia's Fab 50") in recognition of its outstanding achievements in corporate management, operational and financial performance.
Forbes Asia has selected the Fab 50 companies from a pool of 1,300 publicly-traded companies in Asia-Pacific with at least US$3 billion in annual revenue or market capitalisation, according to several criteria including revenue, earnings, return on capital, share-price performance and industry outlook.
Benefiting from the Chinese government's clean energy policies such as reduction of coal and oil consumption, China Gas's turnover for the financial year of 2014 soared nearly 45% with net profit growth reaching 46%. Total dividends for the year increased substantially by 42.2% to HK12.06 cents per share. As at 31 March 2014, the Group's city gas projects covered a connectable population of more than 75 million people. The total number of connected industrial and commercial users exceeded 62,000.
Mr. Liu Ming Hui, Executive Chairman, Managing Director and President of China Gas, said, "We are highly honored once again to be included on the Forbes Asia's Fab 50 list as one of Asia's elite companies and are grateful for their appreciation of our outstanding governance and operational performance as well as our promising business outlook. The Board and management of the Group will continue to capture the immense opportunities presented by the current energy reform in China and our staff of the group will work in concert to promote the sustainable and rapid development of our business. In this way, we can justify our ranking by Forbes Asia, and reward individuals from the investment sector as well as shareholders for their trust and support."
More information about Forbes Asia's Fab 50 list may be obtained at http://www.forbes.com/fab50/list/
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Topic: Press release summary
Source: China Gas Holdings
Sectors: Gas & Oil, Daily Finance, Energy, Alternatives, Daily News
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