Xinjiang Torch Gas Co., Ltd Reports Earnings Results for the First Quarter Ended March 31, 2020
April 27, 2020 at 05:38 am EDT
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Xinjiang Torch Gas Co. Ltd. announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was CNY 178.603 million compared to CNY 111.794 million a year ago. Operating income was CNY 18.850 million compared to CNY 33.515 million a year ago. Net income was CNY 14.772 million compared to CNY 29.429 million a year ago. Basic earnings per share from continuing operations was CNY 0.1 compared to CNY 0.21 a year ago.
Xinjiang Torch Gas Co., Ltd. is a China-based company principally involved in the transmission and distribution of urban gas, sales and installation of gas facilities and equipment. The Companyâs main businesses include sales of gas and home installation of gas equipment services, among which the gas sales clients include residents, industrial and commercial gas users and compressed natural gas (CNG) vehicle users, and installation business clients include municipal construction authorities, dedicated pipeline customers and real estate development companies. The Companyâs other businesses include gas meter replacement for users and sales of gas cards.