September 27, 2016 7:25 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Beijing Gas Group Co., Ltd.

Company Overview

Beijing Gas Group Co., Ltd. provides natural gas production and distribution services. The company was founded in 1999 and is based in Beijing, China. As of June 30, 2007, Beijing Gas Group Co., Ltd. operates as a subsidiary of Beijing Enterprises Holdings Ltd.

22 Xizhimen nanxiaojie

Xicheng

Beijing,  100035

China

Founded in 1999

Phone:

86 10 6620 5589

Fax:

86 10 6620 5587

Key Executives for Beijing Gas Group Co., Ltd.

General Manager and Vice Chairman
Age: 53
Compensation as of Fiscal Year 2016.

Beijing Gas Group Co., Ltd. Key Developments

Beijing Gas Group Co., Ltd. Announces Unaudited Earnings and Operating Results for the Six Months Ended June 30, 2016

Beijing Gas Group Co., Ltd. announced unaudited earnings and operating results for the six months ended June 30, 2016. It recorded a revenue of HKD 19.579 billion in the first half of 2016, decreased by 6.3% as compared with the same period of last year, which was mainly attributable to the downward adjustment of natural gas distribution price of RMB 70 cent per cublic meter in November 2015 in following the citygate price. The capital expenditure in the first half year amounted to approximately HKD 582 million. Beijing Gas shared a net profit after tax of HKD 1.408 billion in the first half of 2016 through its 40% equity interests in PetroChina Beijing Pipeline Company, representing an increase of 6.7% when compared with the same period of last year. The increase in profit was basically in line with the increase in gas transmission volume. During the period under review, a total of 62,400 household subscribers, 1,886 public sector subscribers, and heating boiler and summer capacity of 668.85 t/h steam were developed. The subscriber growth across all user groups maintained a solid growth on a year-on-year basis. Gas sales volume was approximately 7.308 billion cubic meters, a year-on-year increase of 21%, which was mainly attributable to newly operated Guohua thermal power plant in the second half of last year and the stable growth in utilization rate of conventional power plants such as Gaojing, Jingxi and Gaoantun thermal power plants, in which it pushed up the regular gas demand for power generation.

Beijing Gas Group Company Limited Reports Unaudited Earnings Results for the Six Months Ended June 30, 2015

Beijing Gas Group Company Limited reported unaudited earnings results for the six months ended June 30, 2015. For the period, revenue was HKD 20.886 billion increased by 45.6% as compared with the same period of last year. The gas sales volume was approximately 6.04 billion cubic meters. The capital expenditure amounted to approximately HKD 1.464 billion. The company shared a net profit after tax of HKD 1.319 billion through its 40% equity interests in PetroChina Beijing Pipeline Company in the first half of 2015, representing an increase of 22.6% when compared with the same period of last year. The increase in profit was much higher than the increase in gas transmission volume, which was mainly due to a relatively higher increase in gas transmission volume to Beijing region, and thereby picked up the income per cubic metre from gas transmission.

Beijing Gas And Mitsui Selected For Stake Sale In Gaspetro

Beijing Gas Group Co., Ltd. and Mitsui & Co. Ltd. (TSE:8031) have been selected as the buyers by Petróleo Brasileiro S.A. - Petrobras (BOVESPA:PETR4) for the sale of 49% stake in Petrobras Gás S.A. - Gaspetro. Others in race whose offers were ruled included Gas Natural SDG SA (CATS:GAS), Washington Gas Resources Corp., Cosan Limited (BOVESPA:CZLT33), Marubeni Corporation (TSE:8002).

Recent Private Companies Transactions

Type
Date
Target
Private Placement
August 30, 2016
Jinan Diesel Engine Company Limited
Merger/Acquisition
January 6, 2016
Beijing Gas Group (Teng County) Co,. Ltd.
Private Placement
January 5, 2016
Blue Sky Power Holdings Limited
 

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