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Zhonghua Gas Holdings Limited releases Q1 results

Zhonghua Gas Holdings Limited releases Q1 results

Zhonghua Gas Holdings Limited said its business has been “seriously impacted” by coronavirus as the Hong Kong-based company reports its first quarter of 2020 results.

The total revenue from continuing operations recorded was reduced to HKD75.1m, representing a 29.5% decrease in revenue year-on-year, from HKD113.6m.

The gross profit ratio and net profit after tax dropped by 22.2% and 72.5% respectively comparing with those of the previous period. 

The New Energy Business contributed over 99.8% to the group’s total revenue. 

“The decrease in revenue was mainly caused by the outbreak of coronavirus (Covid-19) which led to the imposition of various travel and work restrictions by the relevant government administrations,” said Zhonghua Gas Holdings Limited in a statement.

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