Futu News, June 29th, this Wednesday $HUZHOU GAS (06661.HK)$Announcement: The company will conduct a public offering from June 29 to July 5, intending to issue 50 million shares, with 5 million shares for public offering and 45 million shares for international offering. The issuing price is HK$6.08 per share, 500 shares per lot, and is expected to be listed on July 13th.
The main business of Huzhou Gas includes selling gas under franchise rights, mainly pipeline natural gas; providing construction and installation services to developers, residents, and non-residential property owners or residents to build and install end-user pipeline networks and gas facilities; and selling household gas appliances.
According to the Frost & Sullivan report, in 2021, the company is the largest pipeline natural gas distributor in Huzhou City, a major prefectural-level city in Zhejiang Province, China, with a market share of 44.1% in Huzhou and the fifth largest pipeline natural gas distributor in the Province, with a market share of 3.0% in Zhejiang, based on sales volume.
In terms of finance, in the fiscal years 2019-2021, the company's revenues were RMB 1.63 billion, RMB 1.422 billion, and RMB 1.859 billion respectively; while the net profits for the same period were RMB 0.144 billion, RMB 0.192 billion, and RMB 0.167 billion respectively.
In terms of industry, influenced by the continuous promotion of coal-to-gas conversion in China and the widespread use of natural gas, the consumption of natural gas in Zhejiang Province has steadily increased, from 10.5 billion cubic meters in 2017...