Zhitong Financial App News, China Gas (08246) issued an announcement that the group expects to make a net profit after tax of about RMB 41.2 million for the six months ended June 30, 2023, up from a net loss of about RMB 27.2 million in the same period in 2022.
According to the announcement, the increase in net profit after tax was mainly due to the reversal of the provision for impairment of trade receivables of about RMB 55.5 million (the provision for impairment of trade receivables of about RMB 11 million for the same period in 2022). This is due to the recovery of a number of long-outstanding trade receivables in the second quarter of 2023.