Zhonghua Gas Holdings Limited (the Company; HKG:246) and its subsidiaries (collectively referred to as the Group) announced its wholly-owned subsidiary Tiancheng Jiuran (Shanghai) New Energy Co., Ltd. signs a strategic cooperation agreement with Zhangjiagang Hongchang Steel Plate Co., Ltd., a wholly-owned subsidiary of Jiangsu Shagang Group Co., Ltd. (Shagang Group), to synergize resource advantages in two major areas: liquefied natural gas (LNG) filling stations and pipeline gas supply to broaden the sales network of the Group.
The Board of Directors believes that this move will enhance the Group’s LNG refueling station business and the gas pipeline business as well as further expand its new energy business. Most importantly, it fosters strategic alliances with a fine enterprise for building long-term mutual beneficiary cooperation to embrace potential opportunities ahead brought by new energy growth in the future.
Jiangsu Shagang Group Co., Ltd. is one of the world’s well-known steel material manufacturers and comprehensive service providers. It is a key enterprise group in Jiangsu Province, a large national special industrial enterprise, and the country’s largest private steel enterprise. The Group is headquartered in Zhangjiagang City, Jiangsu Province. Shagang Group owns five major production bases where locates in Jiangsu, Liaoning, Henan and other places with sustainable production processes. Its products are exported to more than 100 countries and regions around the world, which are widely used in infrastructure construction, industrial production, high-end equipment, and consumer discretionary. It has been consecutively listed in Fortune Global 500 for 12 years in a row and ranked 351 in 2020.
Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited mainly provides diversified comprehensive new energy services, including technology development, engineering and consulting services for coal-to-gas heating, supply of liquefied natural gas, and trading of new energy-related industrial products; the group is also engaged in the property investment business.
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