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DBS: Tian Lun Gas Holdings Ltd – HOLD TP HK$9.00

[News Analysis] Partnership with POWERCHINA Henan to enhance technical-know-how for clean energy supply project

Tian Lun Gas announced a partnership with POWERCHINA Henan to jointly development low-carbon energy market. Following the strategic co-operations with SPIC Henan Electric Power and China Energy Conservation and Environmental Protection Group, this is the third major partnership after the announcement of its 3-year strategic development plan where Tian Lun Gas will grow its green low-carbon services to account for 10% of the total revenue by FY24. 

POWERCHINA Henan is a major national integrated design enterprise with Engineering Design Integrated Qualification Class-A. It has expertise in planning, design and general engineering contracting in various areas, including power generation, transmission and transformation, new energy, etc. Thus, this partnership will strengthen Tian Lun Gas’ technical aspects when developing low-carbon energy business.

Our current rating is HOLD with TP of HK$9.00.

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