On June 17, Gelunbi Investment (02886.HK) announced that its wholly-owned subsidiary, Tianjin TEDA Binhai Clean Energy Group Co., Ltd. ("Tianjin Clean Energy"), has obtained the natural gas increment project of Huaneng Lingang (Tianjin) Gas Thermal Power Co., Ltd. ("Huaneng Power Plant").

Tianjin Clean Energy will increase natural gas supply to Huaneng Power Plant by about 71 million cubic meters from June 2024 to March 2025 ("Huaneng Power Plant Incremental Project") through sales. The Group provides stable and high-quality gas source support for the Huaneng Power Plant Incremental Project through the overall allocation of the North China regional natural gas resource pool.

The company believes that, under the background of the market-oriented reform of natural gas, the strategy of building and continuously optimizing the regional natural gas resource pool based on geographical advantages is constantly playing a positive role, bringing diversified opportunities for the group's business development. On the one hand, the stable and scaled natural gas consumption capacity brought by the user structure mainly composed of industrial and commercial users supports the group to improve its participation and cost control capabilities in the upstream supply chain with the natural gas resource pool as the carrier. On the other hand, the group helps customers reduce costs and increase efficiency by sharing high-quality gas source resources obtained from the upstream supply chain with end users, thus forming a healthy supply-demand relationship and achieving win-win results for all parties involved.