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TG Smart Energy (01083.HK): Shandong Jihua will be absorbed and merged by Shandong Ganghua.
Grainstream September 26: tg smart energy (01083.HK) announced that on September 26, 2024, tg gas investment (an indirectly wholly-owned subsidiary of the company) entered into a merger agreement with Shandong Ganghua, Shandong Jihua, Jinan Energy Group, and Zhonghua Gas (Jinan) (a wholly-owned subsidiary of Zhonghua Gas), and signed a joint venture agreement with Jinan Energy Group and Zhonghua Gas (Jinan). According to the merger agreement (to be effective after approval by the shareholders at the shareholders' meeting), Shandong Jihua will be absorbed and merged by Shandong Ganghua. Shandong Ganghua currently owns 51% equity by Jinan Energy Group and by Zhonghua Gas.
Express News | Towngas China - Shandong Towngas Will Be Owned as to 51% by Jinan Energy Group, as to 30.3% by Hkcg (Jinan)
Express News | Towngas China - Merger of Joint Venture Companies
hk & china gas (0003.HK) mainland public business - the mainland public business general manager conference of Guanghua in 2024 was successfully held
The 2024 Mainland Public Utilities General Managers' Meeting of HK & China gas was held in Guangzhou with the theme "Overcoming Adversity and Uniting as One", aiming to unify thinking, boost morale, and promote the high-quality development of public utilities business. Over 170 executives, regional and corporate general managers of hk & china gas and the Group attended. Andy Wong, CEO of HK & China Gas, emphasized the high external dependency of China's oil & gas industry. Against the backdrop of global decarbonization, the country attaches importance to energy security, requiring managers to maintain crisis awareness and a sense of urgency, take improvement measures, and enhance quality and efficiency. Jerry Ge, Chief Operating Officer of Public Utilities at HK & China Gas in mainland China, stated that in the first half of the year, the Group saw growth in city gas volume and water affairs operations.
Be Wary Of Towngas Smart Energy (HKG:1083) And Its Returns On Capital
Most of the gas stocks have risen, enn energy (02688) has risen by 4.04%. Moton said that gas stocks have all promised stable dividends and have attractive yields.
Jingwu Financial News | Most gas stocks have risen, with ENN Energy (02688) up 4.04%, Hong Kong and China Gas (00003) up 2.06%, TG Smart Energy (01083) up 1.43%, China Res Gas (01193) up 1.08%. In terms of news, JPMorgan released a research report stating that the performance of China Gas's utilities industry in the first half of the year once again confirms the bank's positive view on the industry, with gas consumption steadily increasing (over 5% year-on-year) and profit margins and free cash flow improving. Although the decline in new connection businesses was larger than expected, the profit of ENN Energy and Res Gas dropped by 30% to 50% compared to the same period last year.
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