Sino Gas International Holdings Announces Preliminary Financial Results for Fiscal Year 2007
16 February 2008 - 12:30AM
PR Newswire (US)
BEIJING, Feb. 15 /Xinhua-PRNewswire-FirstCall/ -- Sino Gas
International Holdings, Inc. (OTC:SGAS) (BULLETIN BOARD: SGAS)
("Sino Gas" or the "Company"), a leading developer of natural gas
distribution systems in small and medium sized cities, as well as a
distributor of natural gas to residential, commercial and
industrial customers in China, today announced that it expects
revenues for fiscal year 2007 to be approximately $20 million and
net income to be approximately $7.9 million. The Company's fiscal
year ended December 31, 2007. About Sino Gas The Company, through
its indirectly wholly-owned subsidiary, Beijing Zhong Ran Wei Ye
Gas Co., Ltd. ("Beijing Gas"), and the subsidiaries of Beijing Gas,
is a leading developer of natural gas distribution systems in small
and medium size cities in China, as well as a distributor of
natural gas to residential, commercial and industrial customers in
China. The company owns and operates 24 natural gas distribution
systems serving approximately 100,000 residential and eight
commercial and industrial customers. Facilities include
approximately 700 kilometers of pipeline and delivery networks with
a designed daily capacity of approximately 70,000 cubic meters of
natural gas. Beijing Gas owns and operates natural gas distribution
systems in Hebei, Jilin, Jiangsu and Shandong Provinces. For
further information, visit the Company's website at
http://www.sino-gas.com/ . Safe Harbor Statement This announcement
contains forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. All statements other than statements of historical fact in
this announcement are forward-looking statements, including but not
limited to, the Company's ability to raise additional capital to
finance the Company's activities; the effectiveness, profitability,
and the marketability of its products; the ability of the Company
to identify attractive acquisition candidates and close on
acquisitions; the period of time for which its current liquidity
will enable the Company to fund its operations; the Company's
ability to protect its proprietary information; general economic
and business conditions; the volatility of the Company's operating
results and financial condition; the Company's ability to attract
or retain qualified senior management personnel and research and
development staff; and other risks detailed in the Company's
filings with the Securities and Exchange Commission. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations, assumptions,
estimates and projections about the companies and the industry. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or to changes in its expectations, except as may be required by
law. Although the Company believes that the expectations expressed
in these forward-looking statements are reasonable, they cannot
assure you that their expectations will turn out to be correct, and
investors are cautioned that actual results may differ materially
from the anticipated results. For more information, please contact:
Mr. Brad Shao, Director of Investor Relations Sino Gas
International Holdings, Inc. Tel: +86-10-8260-0041 x883 Email:
Crocker Coulson, President CCG Elite Investor Relations Tel:
+1-646-213-1915/1914 (New York) Email: DATASOURCE: Sino Gas
International Holdings, Inc. CONTACT: Mr. Brad Shao, Director of
Investor Relations at Sino Gas International Holdings, Inc.,
+86-10-8260-0041 x883, or ; Crocker Coulson, President of CCG Elite
Investor Relations, +1-646-213-1915/1914 (New York), or , both for
Sino Gas International Holdings, Inc. Web site:
http://www.sino-gas.com/
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