THE PRC CITY GAS DISTRIBUTION FLAGSHIP OF CHINA RESOURCES GROUP

China Resources Gas Group Limited ("CR Gas"), substantially owned by China Resources (Holdings) Company Limited, one of the largest state-owned conglomerates in China, is a leading gas utilities group in China, which is principally engaged in downstream city gas distribution business including piped natural gas distribution, natural gas filling stations operation and sales of gas appliances. Its operations are strategically located in areas of China, which are economically more developed and densely populated and areas with rich reserves of natural gas.

Leveraging on the excellent industry fundamentals and the Group's execution competency, CR Gas continues to expand rapidly in 2016 via organic and acquisition growths. As at 30th June 2016, CR Gas's portfolio consisted of 224 city gas projects in 22 provinces of China including 14 provincial capitals and 3 direct administrative municipalities with a first half-year gross gas sales volume of 8,273 million cubic meters and 24.98 million customers.

As optimization of energy structure and environmental pollution control will promote the sustainable growth of natural gas consumption in China, the PRC government has, in recent years, taken various measures to promote the development and utilization of less polluting energy sources. The natural gas industry resonates with the core development idea of innovation, harmony, green, open and sharing as compared with conventional energy resources such as coal and crude oil. The PRC government has therefore been very supportive of the development of the natural gas industry in order to meet its stated goal of natural gas making up 10% and 15% of the total Chinese energy sources by 2020 and 2030 respectively, up from the current 6% level.

The natural gas market in China is still in the important development phase, as China remains the most important region in the global rise of natural gas usage. CR Gas is well placed to take advantage of such a favorable operating environment and to become the most respectable leader in the PRC's gas industry by continuously expanding through organic and external growths; diligently enhancing its operational efficiency in pursuit of excellence; delivering a safe and reliable supply of clean energy as well as the caring, competent and efficient service to our customers; offering growing and sustainable performance to shareholders; creating extensive professional and personal development opportunities to employees; and contributing to the protection and improvement of the Chinese and global environment.

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