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Tian Lun Gas (01600) reaches 5.3 million subscribers, with new urban gas subscribers accounting for over 80%

ZHENZHOU, China, March 30, 2023 /PRNewswire/ -- On March 30, the 2023 announced its annual results for 2022, in which the growth of the connection business was in line with the expected results. The total number of users has reached 5.29 million, an increase of 7.2% over the same period last year, among them, there were 288,000 new urban users and 68,000 new rural management users. Since the 2023, real estate has been an important factor in stabilising the economy. The industry has continued to welcome the good news in recent months. The Central Bank, the Ministry of Housing and construction, and local governments have continued to give strong support to the steady and healthy development of the real estate market. The author notes that the Henan provincial government, in order to promote the stability of real estate, put forward the"Six-character policy" to stabilize the property market. It clearly stated that it would steadily implement a long-term mechanism for real estate, focus on improving market expectations, support the demand for rigid and improved housing, and promote the healthy development of residential consumption, and as a deep cultivation of Henan, distribution of 16 provinces of Tian Lun gas will be guided by government policy, connection business will further achieve stable growth.

The policy of stabilizing the property market in Henan Province will continue to promote the development of Tian Lun Gas's connection business to return to normal, which constitutes another potential performance catalyst. According to statistics, about 60% of Tian Lun Gas's new urban residents come from the new housing market, and about 40% come from the renovation of old residential areas and the development of users in towns and towns around the city. The new housing market in the province is foreseeable to usher in a new development. In the future, Tian Lun Gas will continue to take advantage of capturing new connections for users in old communities and towns around the city. At the same time, it will proactively reach an agreement with high-quality real estate developers on gas home projects to ensure that the overall connection business returns to a normal growth path.

In the future, the company will focus on two aspects to achieve the steady growth of urban gas connection business throughout the year. On the one hand, the company will strictly control the legal risks with new real estate developers, strengthen the credit evaluation of new real estate developers, and try to avoid losses from the connection of new real estate; on the other hand, the company will increase the investment in the region The market development of old communities, retail households, and users in surrounding villages and towns, so as to ensure that the annual guidelines are up to standard. As similar policies are believed to be introduced across the country, the company's nationwide layout centered on Henan Province is expected to usher in an overall recovery.

Source: CHINA TIAN LUN GAS HOLDINGS LIMITED Related Stocks: HongKong:1600

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