Profit Attributable to the Owners Increased 95.4% Reaching HK$94.6 million;
Declared a Final Dividend of HK$0.5 Cents per Share
HONG KONG, Mar 19, 2019 - (ACN Newswire) - Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246.HK) together with its subsidiaries (collective namely the "Group") today announces the annual results for the year ended 31 December 2018 ("the Current Year").
Revenue of the Group for the Current Year amounted to approximately HK$423.7 million, representing an increase of approximately 22.8% from approximately HK$361.8 million for the year ended 31 December 2017 ("FY 2017"). Net profit and total comprehensive income attributable to the owners of the Company recorded a significant increase by approximately 95.4% to approximately HK$94.6 million for the Current Year. The increase was mainly attributable to the increase in the revenue in the provision of diverse integrated new energy services. Basic and diluted earnings per share for the Current Year was HK$2.7 cents and HK$2.6 cents, as compared to both HK$1.4 cents in FY 2017.
The Board recommends to pay a final dividend of HK$0.5 cents per ordinary share. Furthermore, the Group have just laid down a long-term dividend policy that targets to propose to distribute dividend on a continuous basis, when the business conditions of the Company are satisfactory and business is profitable, and subject to the conditions of this policy, so that shareholders can share the fruitful success of our business as and when appropriate.
During the Current Year, the Group generated revenue from its diversified and integrated new energy services which included technological development and consultancy services in relation to heat supply and coal-to-natural gas conversion solutions, trading of new energy related industrial products and the operation of LNG stations as well as kicking off the LNG trading business in the fourth quarter of 2018. It also broadened the income stream via receiving rental and management fees from leasing out LNG storage tanks and gasification devices from the cooperation partners.
Looking forward, the Group will continue to seek cooperation and build on the cordial relationship with different engineering and consultancy enterprises from the PRC and around the globe to collaborate in technological and infrastructure areas in the new energy industry. It will continue to enrich the business profile and broaden the income sources to achieve a sustainable growth in profitability.
With its consistent investments and active partnerships, the Group has and will continue to yield a higher return in the years ahead to achieve an overall corporate growth and operation efficiency.
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.
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