DJ EQS-News: UNITED STRENGTH POWER HOLDINGS LIMITED expected to record a net profit of not less than approximately RMB175 million
EQS-News / 28/02/2022 / 19:17 UTC+8
UNITED STRENGTH POWER HOLDINGS LIMITED expected to record a net profit of not less than approximately RMB175 million
[Hong Kong, Feb 28, 2022 ] United Strength Power Holdings Limited (the "Company", which together with its subsidiaries, the "Group"), Stock Code: 02337.HK), is pleased to announce that the group is expected to record a net profit of not less than approximately RMB175 million, which represented a growth of not less than approximately 40% as compared to that for the year ended 31 December 2020 (2020: RMB124.4 million).
The Group considers that the expected increase in net profit is primarily attributable to (i) the increase in the sales volume of the Company's wholesale and retail petroleum products as a result of increase in market demand due to the recovery from the COVID- 19 pandemic in the People's Republic of China; and (ii) the increase in marketing and promotional efforts by the Company.
Commenting on the Group's performance, Mr. Zhao Jinmin, Chairman of United Strength Power Holdings Limited said, "With the Group's continuous effort in developing its balanced and diversified business portfolio, we are delighted to announce the expected increase in net profit is primarily attributable to the increase in the sales volume of the Company's wholesale and retail petroleum products as a result of increase in market demand due to the recovery from the COVID-19 pandemic in the People's Republic of China. Looking forward, the Group will stay cautious and prudent towards the formulation and implementation of corporate strategies, the Group will seize the favorable opportunity of the macroeconomic recovery and the substantially increasing market demand in oil and gas in the upcoming future and strive for coordinated development of petrol stations and gas stations, actively seek new opportunities to expand our businesses, to enhance the Group's competitiveness in the industry, in order to create long-term value for stakeholders." File: UNITED STRENGTH POWER HOLDINGS LIMITED expected to record a net profit of not less than approximately RMB175 million
28/02/2022 Dissemination of a Marketing Press Release, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1289811&application_name=news
(END) Dow Jones Newswires
February 28, 2022 06:18 ET (11:18 GMT)
