Zhitong Financial APP learned that Huiming Natural Gas Group Co., Ltd. (Huiming Natural Gas Group Company Limited) submitted an application for listing on the main board of the HKEx, according to the disclosure by the HKEx on June 29. Guotai Junan International is the exclusive sponsor.
Company profile
Huiming Natural Gas is a non-state-owned pipeline natural gas operator in China with a history of more than 15 years. As at the latest practicable date, we operate under six franchises located in six locations (one in Jiangsu Province, three in Hebei Province, one in Jiangxi Province and one in Hunan Province). The total area of the business area is approximately 2553.5 square kilometers. The company's income mainly comes from the retail business of pipeline natural gas in our region and the provision of connection and installation services.
The company plans to further expand our business through the following growth strategies: (I) expanding our natural gas business in the regions we operate and our industrial and commercial customer base in those regions; (ii) expanding our business by acquiring or investing in pipeline natural gas concessionaires with growth potential; and (iii) strengthening our internal building capacity. (iv) develop and upgrade enterprise information management systems to improve our operational efficiency; and (v) diversify our sources of revenue by expanding downstream gas-related value-added businesses, such as the supply and installation of natural gas combustion appliances to retail customers.
Financial data
According to the prospectus, the income of Huiming Natural Gas from 2018 to 2020 was 503 million yuan (in RMB, 1000 yuan; the same below), 432 million yuan and 502 million yuan respectively. The profits for the year were 45.933 million yuan, 39.006 million yuan and 30.286 million yuan respectively.