Zhitong Finance App News, GCL New Energy (00451) announced that on March 4, 2024, Rudong GCL Smart Energy (an indirect wholly-owned subsidiary of GCL Energy Technology) (as a client) signed an intermediary contract with Nanjing GCL New Energy Development (an indirect wholly-owned subsidiary of the company) (as an intermediary). Nanjing GCL New Energy Development agreed to provide a number of intermediary services to Rudong GCL Smart Energy for the period from March 4, 2024 to December 31, 2024.
Nanjing GCL New Energy Development agreed to provide a number of intermediary services to Rudong GCL Smart Energy. In particular, (1) find qualified international LNG resources and LNG terminals, and assist Rudong GCL Smart Energy to purchase LNG; and (2) facilitate the signing of a natural gas sales and purchase contract between Rudong GCL Smart Energy (or its designated party) and Shenzhen Energy and Gas Investment Holdings Co., Ltd.
The service fee of RMB 70 per ton is equivalent to about 2% of the LNG purchase price. The purchase price of LNG is approximately RMB 3,200 to RMB 4,200 per ton. The maximum annual service fee paid by Rudong GCL Smart Energy to Nanjing GCL New Energy Development is RMB 7 million.
According to the announcement, the group has a professional LNG trading team, which can achieve the marketization of LNG trade. Therefore, carrying out the proposed transaction under the intermediary contract can increase the group's revenue and optimize the procurement costs of GCL Smart Energy.