Huzhou Gas (06661) Announces Further Details on Continuing Connected Transactions with City Group

Bulletin Express12-01

Huzhou Gas (06661) released additional information regarding its continuing connected transactions under the Cooperation Framework Agreement with City Group. The latest announcement covers historical transaction caps and utilization, as well as the rationale for setting future annual caps.

According to the announcement, historical annual caps under the 2023–2025 Supply Framework Agreement were RMB15.0 million in 2023, RMB20.0 million in 2024, and RMB18.0 million in 2025. Actual transaction amounts stood at RMB1.015 million, RMB0.487 million, and RMB0.453 million within the same periods respectively. The announcement notes that lower-than-expected utilization resulted primarily from delays in City Group’s property projects, which reduced overall demand for related products and services.

The Board outlined several factors influencing the future annual caps under the Cooperation Framework Agreement, including the completion timeline of projects in Huzhou City, local government adaptive policies, and new marketing strategies from traditional real estate developers. Specific items referenced include alarm systems, air energy products, and potential bulk purchases for affordable housing initiatives. A buffer of around 10% is also reserved for possible rises in demand and cost increases.

All other information set out in the prior announcement remains unchanged. The latest details are intended to offer clarity on how policy shifts and local market conditions in Huzhou City may affect transaction activity between Huzhou Gas and City Group in the coming years.

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