According to the Zhitong Finance App, China Gas (08246) announced annual results for the year ended December 31, 2023. The group achieved revenue of 187 million yuan (RMB, same below) during the period, a year-on-year decrease of 6.92%; losses attributable to shareholders were 6.656 million yuan, an increase of 26.68% over the previous year; and a basic loss of 0.002 yuan per share.
According to the announcement, the decline in revenue is 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 operation in October 2023 for this reason, resulting in a reduction of about 13.7 million yuan in revenue from the energy business this year.