Zhonghua Gas Holdings Limited Announces Positive Profit Alert of Recording Increase of Net Profit of Approximately 90% for the FY2018

Written by ACN Newswire

Monday, 11 February 2019, 08:56 HKT/SGT

Source: Zhonghua Gas Holdings Limited ^[1]

HONG KONG, Feb 11, 2019 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces that the Group is expected to record a significant increase in consolidated net profit for the year ended 31 December 2018 (the "Current Year") of approximately 90% as compared to that for the year ended 31 December 2017 (the " Previous Year"). The Board of Directors considered that the significant increase in the Current Year's consolidated net profit of the Group was mainly attributable to the increase in the revenue in the provision of diverse integrated new energy services, and the positive contribution from the 5-year tax concession incentive plan obtained from the relevant government department of the People's Republic of China.

The Group has been developing the New energy business for three years, during which it successfully expands the business through organic growth and acquisition. Riding on the strong commitment of the PRC government in New Energy state policy, the Group will expand its strong foothold from Tianjin, to extend the market footprint into the whole of the PRC, and even to cover the Greater China Region.

Zhonghua Gas Holdings LimitedZhonghua 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 YeungJovian Communications LtdTel: +852 2581 0168Email: [email protected]^[2]

Topic: Press release summarySectors: Daily Finance, Energy, Daily News ^[3]^[4]^[5] http://www.acnnewswire.com From the Asia Corporate News Network