Latest news with #ChinaGas
Fibre2Fashion
6 hours ago
- Business
- Fibre2Fashion
BASF forms clean energy alliance with Gotion & China Gas
During the 2025 Shanghai International Carbon Neutrality Expo in Technologies, Products and Achievements (CNE), BASF entered into a four-party strategic partnership with Hefei Gotion High-Tech Power Energy Co., Ltd. (Gotion), China Gas Holdings Limited (China Gas), and BASF Shanshan Battery Materials Co., Ltd. (BASF Shanshan). At the 2025 Shanghai Carbon Neutrality Expo, BASF, Gotion, China Gas, and BASF Shanshan formed a strategic alliance to advance energy storage systems, next-gen battery materials, and clean energy projects. The partnership aims to build a closed-loop new energy ecosystem, supporting China's dual carbon goals through innovation and collaboration. This strategic collaboration will focus on the joint development of energy storage systems, the application of next-generation battery materials, the commercialization of energy storage projects, and green energy solutions. The four parties aim to establish a strategic alliance to build a closed-loop ecosystem for the new energy value chain. The strategic partnership also strives to further innovate in energy storage technologies and promote mass adoption of clean energy, supporting China's 'dual carbon' goals. 'We need more partners to join our efforts to achieve the 'dual carbon' goals and green transformation,' said Dr. Jeffrey Lou, President and Chairman of BASF Greater China. 'We firmly believe that through our strong alliance with Gotion, China Gas, and BASF Shanshan, we will further accelerate innovation in energy storage technologies and the wide adoption of clean energy. Together, we will create strong synergies and expedite our common goal of achieving sustainability.' Desmond Long, CEO of BASF Shanshan, stated that BASF Shanshan has been deeply engaged in the battery materials industry for 22 years, focusing on independent research and development with strong technological innovation capabilities. The company has consistently served the electric vehicles and consumer electronics sectors, contributing to the development of the new energy industry. 'We are excited to collaborate with BASF China and our partners in the industry to promote the advancement of circular economy by fully leveraging each party's strengths in technologies and resources,' said Desmond Long. 'Gotion will focus on the market development of this partnership and drive its implementation. By leveraging the material expertise of BASF and BASF Shanshan, alongside the extensive network resources of China Gas, we will target key sectors such as industrial and commercial energy storage, integrated photovoltaic charging, storage and swapping stations. To support this, we will also establish a dedicated team to develop tailored market strategies,' stated Qisui Wang, Executive President of Gotion. 'By integrating the technological strengths of our partners, I am confident that we will deliver solutions that are both cost-effective and technologically advanced, setting a new industry standard.' Minghui Liu, Chairman and President of China Gas, emphasized that as they accelerate toward its dual carbon goals, the strategic partnership among the four parties marks a significant milestone in China Gas's expansion into the new energy sector. This collaboration not only promotes the adoption of clean energy but also pioneers an innovative 'energy storage + biomass' model, supporting the China Gas Group's transformation into a low-carbon, intelligent integrated energy service provider. Minghui Liu expressed strong confidence in the partnership, 'China Gas looks forward to working with all stakeholders to build a resilient new energy ecosystem and deliver safe, efficient, and sustainable energy solutions.' Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
South China Morning Post
19-03-2025
- Business
- South China Morning Post
Towngas says tourism rebound, incoming mainland talent will drive sales in 2025
Hong Kong and China Gas (Towngas) said a tourism rebound and incoming talent from the mainland would drive sales this year, as the city's sole gas provider seeks new opportunities for growth. Advertisement On Wednesday, the company said its full-year net income fell 8 per cent to HK$5.7 billion (US$733.6 million) from HK$6.1 billion a year earlier. Analysts polled by Bloomberg expected a profit of HK$6.2 billion. The company said its core operating profit increased 5 per cent to HK$5.9 billion. Revenue for the year fell 2.6 per cent to HK$55.5 billion; analysts expected HK$57.7 billion. 'Looking ahead to the new year, we expect gas sales in Hong Kong to maintain steady growth as the city's tourism industry rebounds, and as initiatives such as the Top Talent Pass Scheme bring in tens of thousands of people,' said co-chairmen Peter Lee Ka-kit and Martin Lee Ka-shing in a statement. Towngas' overall gas sales volume in Hong Kong increased 0.1 per cent last year after a decline in 2023 due to above-average temperatures and residents spending more time out of the city. Advertisement Gas sales in 2024 were affected by record temperatures and more residents travelling to the mainland, the company said. On an earnings call, managing director Peter Wong Wai-yee said the increase in gas sales was attributable to a recovery in the hospitality and aviation industries.
Associated Press
14-03-2025
- Business
- Associated Press
Zhibao Technology's Subsidiary, Sunshine Insurance Brokers Announces Expansion in the Natural Gas Insurance Market in Conjunction with YipinSmart, a Subsidiary of China Gas
Shanghai, China--(Newsfile Corp. - March 14, 2025) - Zhibao Technology Inc. (NASDAQ: ZBAO) ('Zhibao,' 'we,' or the 'Company'), a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities in China, today announced an expansion in the natural gas Insurance Market through its subsidiary, Sunshine Insurance Broker in conjunction with YipinSmart, a subsidiary of China Gas. Sunshine first entered into a Marketing Agreement with YipinSmart in December 2024, covering five cities across Zhejiang and Jiangsu provinces, with a combined population of more than 36 million people. YipinSmart is a subsidiary of China Gas, a national provider of natural gas services in China, focusing on smart home solutions and services surrounding the safe use of natural gas to China Gas customers. This marketing agreement with YipinSmart kicks off Zhibao's collaboration with China Gas and provides Zhibao with a business channel to promote household and commercial property insurance to individual and corporate clients of urban gas companies. 'We are pleased to announce our expansion in the natural gas market with YipinSmart which will provide us with substantial growth trajectory as we strive to execute on our expansion strategy. Since the signing of the Marketing Agreement in late 2024, our teams have been hard at working together to lay the foundation to offer our digital insurance solutions to YipinSmart's customers. We are ready to start leveraging the wide network of channels provided by this collaboration to diversify our insurance brokerage footprint and enhance our presence in the natural gas industry. In addition, we are excited about our continued success in the gas business that provides dependable revenues, margin expansion, and cash flow streams. We expect our continued growth within the gas sector and the further enhancements we have made to our business model will drive tremendous interest in the investment community and promote considerable value to our shareholders,' said Zhibao's Chief Executive Officer, Mr. Botao Ma. This collaboration with YipinSmart, marks Zhibao's continued endeavor into the natural gas insurance industry following partnerships with Shenergy Group and Shenzhen Gas Group. These are the primary providers of natural gas to the cities of Shanghai and Shenzhen respectively, two megacities with a combined population of over 42 million people. Currently, our natural gas insurance solution covers 18 cities and territories in China. About Zhibao Technology Inc. Zhibao Technology Inc. (NASDAQ: ZBAO) is a leading and high growth InsurTech company primarily engaging in providing digital insurance brokerage services through its operating entities ('Zhibao China Group') in China. 2B2C ('to-business-to-customer') digital embedded insurance is the Company's innovative business model, which Zhibao China Group pioneered in China. Zhibao China Group launched the first digital insurance brokerage platform in China in 2020, which is powered by their proprietary PaaS ('Platform as a Service'). Zhibao has developed over 40 proprietary and innovative digital insurance solutions addressing different scenarios in a wide range of industries, including but not limited to travel, sports, logistics, utilities, and e-commerce. Zhibao acquires and analyzes customer data, utilize big data and AI technology to continually iterate and enhance its digital insurance solutions. This iterative process, in addition to continually improving its digital insurance solutions, will keep it abreast of the new trends and customer preferences in the market. For more information, please visit: Forward-Looking Statements Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute 'forward-looking statements' within the meaning of The Private Securities Litigation Reform Act of 1995. The words 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'plan,' 'is/are likely to,' 'potential,' 'predict,' 'project,' 'should,' 'target,' 'will,' 'would' and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the 'Risk Factors' section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Investor Relations Contact Zhibao Technology Inc. Skyline Corporate Communications Group, LLC Scott Powell, President Avenues Tower 1177 Avenue of the Americas, 5th floor New York, NY 10036
