Gelonghui, Feb. 19 | Jiaxing Gas (09908.HK) announced that the Group expects that for the year ended December 31, 2023, the profit attributable to shareholders will increase by about 217%-308% compared to 2022, from RMB 69.344 million in 2022 to approximately RMB 220 million to RMB 283 million expected in 2023.
The board of directors believes that the expected increase in profit attributable to shareholders in 2023 is mainly due to the expansion of the liquefied natural gas sales business of Zhejiang Hangjiaxin Clean Energy Co., Ltd. (“Hang Jiaxin”, a company with 51% shares in the company, treated as a joint venture of the company according to applicable accounting standards and a subsidiary of the company under listing rules). Benefiting from the increase in liquefied natural gas sales prices in the international market, the relatively low purchase price under the LNG long-term agreement between Hang Jiaxin and its supplier, and the increase in sales volume due to business expansion, Hang Jiaxin expects to record a significant increase in gross profit in 2023.