HONG KONG--(BUSINESS WIRE)--Blue Sky Power Holdings Limited (or “the Company”, together with its subsidiaries, the “Group”, HKSE stock code: 6828) is pleased to announce that, the board proposes to change the English name of the Company from ‘‘Blue Sky Power Holdings Limited’’ to ‘‘Beijing Gas Blue Sky Holdings Limited” and to adopt “北京燃氣藍天控股有限公司” as the Chinese secondary name of the Company to replace “藍天威力控股有限公司”.
Mr. Tommy Cheng, Co-Chairman and Executive Director of the Group, said, “Following the completion of subscription of shares and convertible bonds of the Company by Beijing Gas Group Co., Ltd. (“Beijing Gas”) in May 2016, Beijing Gas has become our single largest shareholder. We believe that the proposed change of company name will better reflect the relationship between the Company and Beijing Gas and our direction of future development. The new name of the Company will create a new corporate image which will benefit the Group’s future business development.”
Mr. ZHI Xiaoye, Co-Chairman and non- Executive Director of the Group, said, “With the industry and financial resources gained from Beijing Gas, our current single largest shareholder, we will continue to explore and identify more synergistic opportunities with them, in terms of co-investments and cooperation in both project and regional levels.”
Blue Sky Power Holdings Limited
Since 2014, Blue Sky Power Holdings Limited (HKSE stock code: 6828) has focused on transforming itself into an integrated natural gas provider, distributor and operator, with an emphasis on the mid- to downstream side of the natural gas industry value chain. Our natural gas business encompasses: (i) construction and operation of compressed natural gas (“CNG”) and liquefied natural gas (“LNG”) refueling stations for vehicles; (ii) construction of natural gas pipelines and operation of city gas projects by providing piped gas; (iii) direct supply of LNG to end-users; and (iv) trading and distribution of CNG and LNG.
Blue Sky Power has adopted its own “One Belt, One Road Expansion Strategy” to expand along key coastal economic areas and north-western provinces that have rich gas source. The Group has business presence in several provinces in the PRC, including Shandong, Hainan, Anhui, Hubei, Sichuan and Liaoning.