Guizhou Gas(SH:600903) Zhong Guo Jing Ying Bao·2025-07-04 06:19Core Viewpoint - Guizhou Gas is progressing with the acquisition of shale gas assets, which includes due diligence, auditing, and evaluation processes, as part of its plan to enhance its gas supply capabilities and overall company value [1][2][5]. Group 1: Acquisition Details - Guizhou Gas plans to acquire 100% equity of Guizhou Shale Gas, which has a mining area of 67.3231 square kilometers and an annual production capacity of 1.83 billion cubic meters, accounting for approximately 11% of Guizhou Gas's natural gas demand in 2023 [1][2]. - The acquisition involves issuing shares to specific investors and is part of a broader strategy to secure gas supply and enhance operational capabilities [1][2][7]. Group 2: Financial Performance - Guizhou Gas reported revenues of 6.163 billion yuan, 6.097 billion yuan, and 6.68 billion yuan for the years 2022, 2023, and 2024, respectively, with net profits of 25.49 million yuan, 78.08 million yuan, and 62.52 million yuan [6]. - The company experienced fluctuations in operating cash flow, attributed to reduced sales collections and increased employee wages, with a debt ratio rising to 64.2% by the end of 2024 [6]. Group 3: Market Outlook - The natural gas consumption in Guizhou Province is projected to reach around 4 billion cubic meters by 2025, with Guizhou Gas estimating its sales at 2 billion cubic meters for the same year [7]. - The acquisition is expected to enhance Guizhou Gas's gas source diversification and self-supply capabilities, promoting the coordinated development of gas production, supply, storage, and sales [7].