Tianlu Natural Gas Co. Ltd. Enters into Strategic Cooperation with Baiyun Capital

TL Natural Gas (08536) announced that its indirect wholly-owned subsidiary Hong Kong Hoshine International Industry Co., Ltd. has entered into a strategic cooperation agreement with Guangzhou Baiyun Commercial International Investment Development Co., Ltd. on September 12, 2024, pursuant to which the Group will establish a comprehensive strategic partnership with Baiyun Commercial.

The parties will focus on international industrial recruitment based on the industry advantages of Baiyun District. Through the utilization of overseas Chinese and foreign resources, the parties aim to build an international industrial exchange platform to expand global recruitment channels; and the parties plan to jointly invest in the development of a comprehensive energy service station integrating oil, gas, hydrogen and charging.

The Group mainly engages in the sales of compressed natural gas and liquefied natural gas in China and provides transportation services. The Board believes that the strategic cooperation agreement will promote the Group's business expansion and enhance its ability to resist operating risks, which is consistent with the future development direction of the Group.