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Phoenitron Accelerates Roll Out of its LNG Gas Station Network Signs Cooperative Agreements for Different Locations.

Adds Three LNG Gas Stations in Pudong New District Area in Shanghai and Jiangsu Province

Hong Kong, Dec 16, 2014 - (ACN Newswire) - Phoenitron Holdings Limited ("Phoenitron" or together with its subsidiaries the "Group;" (stock code: 8066) today announced that three additional LNG gas stations will be set up in Pudong New District Area in Shanghai and Jiangsu Province, following commencement of a cooperation project to open its first LNG gas station in Shanghai during November this year.

On 12 December 2014, Phoenitron's indirect non-wholly owned subsidiary Shanghai Phoenitron has entered into a supplemental agreement with Jiangsu Huagang, which is indirectly controlled by Kunlun Energy Company Limited (stock code:135). Both signatories have agreed to extend their cooperation to include Pudong New District Area in Shanghai and Jiangsu Province. Pursuant to the agreement, three LNG gas stations are to be built in these areas.

Ms. Lily Wu, Chairman and CEO of Phoenitron, said, "Within a few weeks, Phoenitron has added three LNG gas stations in Eastern China which has the strongest spending power in the country. This progress has not only demonstrated the management's determination to develop the natural gas industry, but also indicates a strong market demand for clean energy particularly within the transportation industry, which provides a strong impetus for the development of the Group. The Group has set monthly and quarterly targets for adding LNG gas stations so as to achieve its commitment of having more than 50 fully operational LNG gas stations in the Yangtze River Delta by 2019."

About Phoenitron Holdings Limited

Phoenitron Holdings Limited is principally engaged in (i) the manufacturing and sales of smart cards and plastic cards; (ii) the provision of customized smart card application systems; (iii) the trading of scrap metals; (iv) the provision of management and financial consultancy services; and (v) the carrying out of the project involving the setting up of natural gas stations in Yangtze River Delta and other petrochemical related business.

Source: Phoenitron Holdings Limited


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Publication:ACN Newswire
Geographic Code:9CHIN
Date:Dec 16, 2014
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