New stock news | Five continents energy port IPO prospectus null and void, the largest natural gas distributor in Xuchang, Henan

The Hong Kong stock prospectus submitted by Wuzhou Energy Holdings Limited (Wuzhou Energy) on June 27, 2024, expired on December 27. Guotai Junan International was its exclusive sponsor when submitting the prospectus. According to Frost & Sullivan data in 2023, Wuzhou Energy is the largest natural gas distributor in Xuchang, a major prefecture-level city in Henan Province, based on the sales volume of natural gas to end users under exclusive franchise rights. As of December 31, 2023, the company owned the second longest natural gas transmission pipeline in Henan Province. Since its establishment in 2001, it has been operating in the natural gas industry in Henan Province for over 20 years. In terms of market share, according to Frost & Sullivan data, both the natural gas market and urban natural gas market in Xuchang City and Henan Province are relatively concentrated. In 2023, based on the sales volume of natural gas to end users under exclusive franchise rights, Wuzhou Energy is the largest natural gas distributor in Xuchang City, with a market share of 42.0%; in 2023, based on the sales volume of natural gas to end users, the company is the sixth largest natural gas distributor in Henan Province, with a market share of 2.6%. Financially, in 2021, 2022, and 2023, Wuzhou Energy achieved revenues of approximately RMB 948 million, RMB 1.266 billion, and RMB 1.217 billion, respectively. During the same period, the net profits were approximately RMB 59.484 million, RMB 111 million, and RMB 110 million, respectively.