China Gas Industry Investment Holdings Co. Ltd. provided preliminary unaudited consolidated group earnings guidance for the six months ended 30 June 2023. For the period, the group expects to record a profit after tax of the company of not less than RMB 60.0 million as compared to the profit after tax of the Company of approximately RMB 41.6 million for the six months ended 30 June 2022.

Based on the information currently available to the Company, the Board considers that the increase in profit after tax for the Period compared to the Previous Period is mainly attributable to: the increase in revenue and gross profit of both not less than 10% compared to the Previous Period primarily due to an increase in gas demand; the decrease in administrative expenses of not less than 30% primarily due to the absence of legal and professional fees incurred in the Previous Period relating to the resumption of trading of the shares of the Company and the decrease in income tax expenses of not less than 15% despite the increase of profit before tax, primarily due to the utilisation of certain unrecognised accumulated tax losses during the Period.