freepokertournaments| Binhai Investment: We are confident that this year's gross profit margin will be better than last year, and total gas sales will reach double-digit growth

Coastal Investment of City Gas Company (2886)Freepokertournaments.HK) Deputy General Manager Yin Fugang said in an interviewFreepokertournamentsNatural gas prices have been high in the past few years, and with the gradual easing of supply and demand, natural gas prices will fall this year. It is confident that the company's gross profit margin this year will be better than last year. In terms of total gas sales, the target is to achieve double-digit growth this year.

Yin Fugang mentioned that urban gas companies have faced challenges such as high upstream prices, poor downstream pricing mechanism and surging safety management costs in recent years, and their revenues and profits are under pressure. But now that international production capacity has increased significantly, coupled with the increasing improvement of LNG (liquefied natural gas) mining and related infrastructure, natural gas prices are falling, which will be beneficial to terminal use. He is optimistic about the cycle of the next few years, urban gas enterprises "another spring is coming".

Yin Fugang said that the gradual recovery of China's economy after the epidemic and the decline in natural gas prices have helped drive gas sales. In the longer term, it is estimated that during the carbon peak, the consumption of natural gas in the mainland may double and the prosperity of the industry is quite high. Even after the carbon peak, natural gas will benefit from its stability and will become an important partner of new energy.