Binhai Investment Completes Deal with Great Wall Gas Mixed Ownership Reform Comes to Successful Close

On 24 September 2020, Binhai Investment (“the Company”) celebrated for the successful completion of the transaction of shares in forms of private placement and shares transfer of its substantial shareholder, and hence introducing Sinopec Great Wall Gas Investment Co., Ltd. as a resource-based strategic investor of the Company. As of today, TEDA Holding remains as a controlling shareholder, which holds 35.43% of the Company’s shares, while Great Wall Gas holds 29.99% of the Company’s shares, becoming the second largest shareholder of the Company.

The completion of such Mixed Ownership Reform marks a fundamentally important milestone of the Company, which does not only secure the Company with stable gas resources and higher bargaining power, but also achieves synergies between upstream and downstream resources, thereby strengthening the Company’s competitive edge within the industry, and creating more potential opportunities for the developments and cooperation ahead, altogether favouring the sustainable growth of the Company.

Looking ahead, with the strong backing of the two cornerstone shareholders, namely TEDA Holding and Great Wall Gas, Binhai Investment will integrate its resources and edges while placing emphasis on its layout of regional development throughout the country, in order to strategically propel the leapfrog development of the enterprise. In the meantime, Binhai Investment will work towards the vision of lifting its operation management to a more scaled and advanced level so as to generate exceptional returns for its shareholders, investors, government and users as an appreciation for their continuous support over the years.

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