Source: Media Outreach
Enters into Strategic Cooperation Agreement with Zhuhai Port to Explore In-depth Cooperation in the Field of New Energy
HONG KONG SAR – Media OutReach – 15 July 2021 – China Tian Lun Gas Holdings Limited (1600.HK) (“Tian Lun Gas” or the “Company”, together with its subsidiaries, the “Group”) announced that the Board of the Company was informed by Mr. Zhang Yingcen, the controlling shareholder of the Company, that the share purchase agreement with IFC Global Infrastructure Fund, LP and International Finance Corporation (“IFC”) and the share disposal agreement with Zhuhai Port Co., Ltd. (“Zhuhai Port”, SZSE stock code: 507.SZ) have been completed on 14 July 2021 and 15 July 2021 respectively. Immediately upon completion of the aforementioned transactions, IFC ceased to be a substantial shareholder and Zhuhai Port (Hong Kong) Development Co., Limited, a wholly-owned subsidiary of Zhuhai Port, became the second largest shareholder, holding 11.96% of the total issued shares capital of the Company.
Tian Lun Gas also entered into a 5-year strategic cooperation agreement (the “Strategic Cooperation Agreement”) with Zhuhai Port on 15 July 2021, both parties agreed to establish a long-term, stable, win-win and comprehensive strategic partnership, as well as to continuously deepen and explore the cooperation between both parties in the field of new energy. The Company utilizes its gas terminal market and service capabilities deployed nationwide, whereas Zhuhai Port utilizes its investment and technological advantages in the field of new energy, thus both parties will be able to share their resources, achieve co-development, and explore the construction of a new energy service system which combines both new energy technology, such as wind power and photovoltaics, and traditional gas services.
Pursuant to the Strategic Cooperation Agreement, the parties will cooperate in the following three aspects:
1. In order to grasp the strategic opportunities arising from the “double-carbon” target, both parties will, on the foundation of the Company’s original natural gas industries, combine Zhuhai Port’s layout in the field of new energy with the Company’s customer resource advantages across the country, jointly investigate the application scenarios and industrial cooperation opportunities of various types of new energy, and focus on exploring cooperating opportunities in areas such as photovoltaics, wind power, energy storage, hydrogen energy and carbon emission reduction.
2. Being the fastest growing segment in Zhuhai Port’s three major business segments, the key strategic directions of new energy industry are domains such as the development and operation of affordable photovoltaic power station, energy storage ancillary industries, and the utilization and development of hydrogen energy. The Company relies on the customer resources that have been accumulated in its urban gas business, and both parties will make full use of their respective resources. While deepening the depth of cooperation and communication among their respective quality business segments, both parties will actively explore the green hydrogen production in photovoltaic and wind power stations as well as its application scenario when combining with natural gas.
3. Both parties will combine the Company’s advantage as a pioneer of rural gasification, continue proceeding with rural revitalization, and explore the combined application of rooftop distributed photovoltaic development with natural gas. And by integrating with Zhuhai Port’s technological advantages in clean energy fields such as wind power, photovoltaic, and natural gas power generation, both parties will jointly carry out in-depth research in the areas such as rural distributed photovoltaic, distributed heat supply, and clean energy comprehensive application plans, so as to assist villages in building a multi-energy synergy and complementary efficient energy system, accelerating rural clean energy replacement, and thus improving the life quality of residents.
Zhuhai Port is a company listed on the SZSE (stock code: 507.SZ) and is principally engaged in port shipping logistics, new energy and advanced manufacturing. In recent years, Zhuhai Port has vigorously developed the new energy sector, including power energy, new energy industry and pipeline gas. Power energy is principally engaged in the investment, operation and service of photovoltaic, wind power, natural gas power, coal-fired power and other energy sources, and has controlling interests in seven wind power plants nationwide. The key strategic direction of its new energy sector is the development and operation of grid-parity photovoltaic power stations, energy storage ancillary industry, and hydrogen energy utilization and development etc. Relying on the concession rights for piped gas business in the western region of Zhuhai granted by the Zhuhai Municipal Government, it engages in the pipeline gas construction, operation and maintenance in the Hengqin New District of Zhuhai and the western urban areas of Zhuhai City.
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