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Beijing Gas Blue Sky will acquire the entire issued share capital of Jilin Haoyuan, a gas company, at a total Consideration of HK$419 million

/EINPresswire.com/ -- HONG KONG, CHINA--(Marketwired - May 3, 2017) - Beijing Gas Blue Sky Holdings Limited ("the Company" or "Beijing Gas Blue Sky", together with its subsidiaries, the "Group") (HKSE: 6828) is pleased to announce that, Goldlink Capital Limited ("Glodlink Capital"), a direct wholly-owned subsidiary of the Company, conditionally agreed to purchase the entire issued share capital of OctoNet Limited ("OctoNet") and August Zone Limited ("August Zone") at a total Consideration of RMB360 million (equivalent to approximately HK$419 million).

OctoNet and August Zone hold 100% equity interest in Jilin Haoyuan Gas Co., Ltd. ("Jilin Haoyuan"), which in turn holds 100% equity interest in Shenzhen Lanran Technical Service Company Limited ("Shenzhen Lanran"), 99% equity interest in Jilin Haoyuan Feikaiwa Engineering Company Limited ("Haoyuan Engineering") and 90% equity interest in Songyuan City Haoyuan Gas Taxi Company Limited ("Haoyuan Taxi"), respectively. The principal business of Jilin Haoyuan is (i) supply of piped gas to residential households, commercial users and public buildings (e.g. school, restaurants, hospitals and commercial complex); and (ii) operation of two compressed natural gas refueling stations for vehicles. Jilin Haoyuan entered into a franchise operation agreement with the Public Utility Bureau authorised by the local government of Songyuan City in Jilin Province, in which Jilin Haoyuan was granted the exclusive operation rights for a term of 30 years commencing from 1 January 2004 to 1 January 2034 for the supply of natural gas via gas pipelines within the Urban Planning Area in Songyuan City.

In addition, Shenzhen Lanran has not commenced its operation. The principal businesses of Haoyuan Engineering and Haoyuan Taxi are laying and installing underground pipelines and logistics; and car rentals, decoration and repair, respectively.

Mr. Tommy Cheng, Co-Chairman and Executive Director of the Group said that "The Acquisitions shall provide an excellent opportunity for the Group to extend our geographical coverage and enlarge our market share in relation to natural gas business. The Company can become an important player in the city gas sector, which can increase the revenue streams of the Group, thus generating more investment value for investors and Shareholders. We believe that, Jilin Haoyuan shall benefit from the Chinese government's "coal-to-gas" policy, pursuant to which more commercial users and public buildings in the district are considering to switch to use gas-fired boilers in replacement of old coal-fired boilers for heating and air-conditioning purpose. In addition, it is expected that there will be further new connections to residential households by Jilin Haoyuan, in view of new real estate projects to be completed in Songyuan City and the conversion to piped gas by existing residential areas."

About Beijing Gas Blue Sky Holdings Limited
Beijing Gas Blue Sky Holdings Limited ("Beijing Gas Blue Sky", HKSE stock code: 6828) is an integrated natural gas provider, distributor and operator, with an emphasis on the midstream and downstream natural gas development. Our natural gas business includes: (i) construction and operation of compressed natural gas ("CNG") and liquefied natural gas ("LNG") refueling stations for vehicles; (ii) construction of natural gas pipelines and operation of city gas projects by providing piped gas; (iii) direct supply of LNG to end-users; and (iv) trading and distribution of CNG and LNG.

The Group has adapted to the "One Belt One Road" policy, and focus on operating and investing natural gas business. The Group is actively expanding its business development and distribution, as well as continues to gradually expanding the scale of operations. Currently, the Group has business presence in several provinces in Northeast China, East China, Central South China and Southwest China, including Liaoning Province, Shandong Province, Anhui Province, Zhejiang Province, Hubei Province, Guizhou Province, Sichuan Province and Hainan Province, etc. In the future, The Group is committed to its vision "develop clean energy, enhance customer value, create a beautiful blue sky". It will continue to actively investing and developing natural gas business, as well as participating in the development of natural gas industry value chain.

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