Towngas (00003.HK) to Build New Green Methanol Production Base in Foshan Sanshui with Annual Capacity of 200,000 Tons

VENEX, a joint venture under Hong Kong and China Gas Company (00003.HK), will construct a new production base in Datang Town, Sanshui District, Foshan, Guangdong. The first phase of the new plant is expected to commence operations in 2028, with an annual production capacity of 200,000 tons. The project will utilize advanced biomass gasification technology, primarily using bagasse and wood processing waste, which are commonly found in the South China region, as raw materials. Including the existing base in Inner Mongolia, the group’s total annual production capacity of green methanol will reach 500,000 tons. Tsang Man Fai, Chief Operating Officer - Green Fuels and Chemicals at The Hong Kong and China Gas Company, stated that green methanol has become the first commercially viable green alternative fuel, representing a crucial component of the green energy strategy. Moving forward, the company will continue to expand its efforts in this area.

AASTOCKS10:21

The government is closely monitoring energy price trends and studying various measures to mitigate the impact of rising oil prices.

The Inter-departmental Task Force on Fuel Supply Monitoring announced the implementation of a diesel subsidy program of HKD 3 per liter, effective today (30th), to support public or commercial vehicles and vessels that use diesel as fuel, as well as related industrial and commercial sectors. A government spokesperson stated that Hong Kong’s fuel supply remains stable, and the task force will continue to conduct dynamic assessments, closely monitor international developments and energy price trends, and proactively study various measures to mitigate the impact of rising oil prices on society and people's livelihoods. The subsidy will reduce diesel prices at two levels: diesel sold through designated oil companies at their stations and directly to users; and diesel sold through appointed distributors to their customers.

AASTOCKSApr 30 09:37

IPO News | Yisilai Reported to Have Filed Confidentially, Aiming for HK Listing by Year-End to Raise up to HKD 7.8 Billion

EcoCeres, incubated by Hong Kong and China Gas Company (00003) and also its strategic shareholder, was rumored last year to have abandoned a London listing in favor of Hong Kong. The latest reports indicate that EcoCeres will submit a confidential application to the Hong Kong Stock Exchange for an initial public offering, with a fundraising target of approximately 800 million to 1 billion US dollars (about 6.24 billion to 7.8 billion Hong Kong dollars), potentially going public within this year. It is reported that Deutsche Bank, HSBC, Morgan Stanley, and UBS Group will lead the IPO process for EcoCeres.

Zhitong FinanceApr 29 11:35

HK & CHINA GAS: Annual Report

HKEXApr 28 16:55 · Announcements

[Win-Win Cooperation] Hong Kong and China Gas Company collaborates strategically with Tencent to jointly promote the digital and intelligent upgrade of 'Energy + Technology'.

On April 17, Hong Kong and China Gas Company Limited (Hong Kong and China Gas) and Shenzhen Tencent Computer Systems Company Limited (Tencent) signed a strategic cooperation agreement in Hong Kong. The two parties will engage in in-depth cooperation in areas such as unified cloud resource management, digital platform construction, large models and AI applications, enhancement of user operation capabilities, and collaborative research and development tools, jointly promoting the digital and intelligent transformation of the energy industry. Present at the signing were Huang Wei Yi (third from the left in the back row), Executive Director of Hong Kong and China Gas, Tang Dao Sheng (third from the right in the back row), Senior Executive Vice President of Tencent Group and CEO of its Cloud and Smart Industries Business Group, and the operating president of Hong Kong and China Gas – Yan Qi Jia.

Gelonghui FinanceApr 21 10:36

Express News | Tencent and Hong Kong and China Gas Company Enter into Comprehensive Strategic Partnership

BreakingsApr 20 09:20