China Gas (08246) issued an announcement. The Group expects to obtain net after tax for the year ended December 31, 2023...
According to the Zhitong Finance App, China Gas (08246) announced that the Group expects net loss after tax to increase by 7.6% for the year ended December 31, 2023, from about RMB 3.7 million net loss after tax for the year ended December 31, 2022 to a net loss after tax of about RMB 4 million for the year ended December 31, 2022. The increase in net loss after tax was mainly due to the customer's heating station being undergoing a national gas network renovation project. One of the Group's main LNG stations in Tianjin was suspended from October 2023 for this reason, resulting in impairment losses of property, plant and equipment of approximately RMB 25.9 million (year ended December 31, 2022: none). It was also offset by an impairment provision for trade receivables of approximately RMB 66.7 million (year ended 31 December 2022: approximately RMB 29.4 million) due to the recovery of a number of long-outstanding trade receivables balances in 2023.