On October 24, 2024, Zhonghua Gas (08246.HK) announced that the company entered into a non-legally binding memorandum of understanding with Tianjin Jinre Heating Group Co., Ltd. ("Tianjin Jinre").
According to the memorandum of understanding, Tianjin Jinre intends to assist the company in exploring investment and business opportunities by seeking suitable Henry Hub natural gas pressure regulating measuring devices and related pipeline assets (collectively referred to as "such assets"). In particular, Tianjin Jinre plans to coordinate the owners of such assets and the company to facilitate the company's acquisition of such assets.
The announcement stated that the group has been actively identifying and exploring investment and business opportunities to expand its revenue base. The board of directors believes that the proposed acquisition can expand the group's natural gas business, making its existing business portfolio more diversified and expanding its revenue base.
