At the general meeting of Binhai Investment (“the Company”) on 13 January 2021, the 10-year Share Option Scheme and the Initial Grant Proposal were officially approved and passed. On the same day, the specific list of personnel receiving such Initial Grant had been considered and approved by the Company’s Board within its mandate. These shortlisted candidates include directors, senior management, core technical talents and management cadre, who are making a direct impact to the overall performance and sustainable development of the Group. As of today, the Long-Term Talent Incentive Mechanism o
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On 16 October 2020, Binhai Investment convened its first Board meeting following Sinopec’s buy-in, in which the restructuring of the Board has marked a successful completion, further facilitating a more comprehensive corporate governance structure of the Company; among which, Mr. Wang Zhiyong, the Chairman of the Board of Tianjin TEDA Investment Holding Co., Ltd., a controlling shareholder of the Company, has been appointed as the Chairman of the Board and an executive director of the Company. In addition, Mr. Zuo Zhi Min, the General Manager of Sinopec Great Wall Gas Investment Co., Ltd., the
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On 18 March, Binhai Investment announced its annual results as of 31 December 2020 with a year-on-year revenue rise of 3% to HK$3,654 million as compared to 2019. Despite a temporary slowdown in growth rates when facing the challenging headwinds in light of COVID-19 pandemic, the fundamentals of growth in the natural gas consumption remained unchanged. Due to the diminishing purchasing costs of piped natural gas, the Company saw a rise of about 15% in its gross profit as compared to 2019, reaching approximately HK$603 million. Meanwhile, overall gross profit margin leaped from roughly 15% in 2
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