Optimize the revenue structure, and Tian Lun Gas (01600. HK)'s core profit will increase by more than 50% in 2H2022

ZHENGZHOU,China,March 30,2023 -- Tian Lun Gas (01600) released its annual performance announcement for 2022. During the reporting period,the company's operating data showed excellent performance,its revenue structure continued to be optimized,and its gas sales volume and value-added business proportion continued to increase. The proportion of gas sales revenue increased to 76%,with retail gas sales revenue increasing by 11 percentage points to 65%. due to the adoption of differentiated gas sales marketing strategies. The proportion of value-added services also increased to 5%.

Compared to the operating results in 1H2022,Tian Lun Gas' profitability recovered rapidly in the second half of the year,with core profit up 52% compared to the first half. Operating revenue for the year was essentially flat compared to the same period last year,with gas sales revenue as well as value-added business continuing to grow steadily,with residential gas sales increasing by 17.0% year-on-year and the gross difference having recovered to the same period in 2021. in 2022,diversified marketing strategies were carried out to provide diversified product services,with value-added business revenue increasing by 24.1% to RMB333 million. in terms of connection business,the Group continued to add industrial and commercial subscribers,the number of newly developed industrial and commercial subscribers maintained growth,up 6.3% year-on-year

In addition,the Board of Directors of Tian Lun Gas recommends maintaining a solid dividend payout ratio with a final dividend of RMB11.00 cents per share,corresponding to 30.0% of the core earnings payout.