On July 26, Tian Lun Gas（01600）is pleased to announce that Henan Tian Lun Gas Group Limited ,an indirect wholly-owned subsidiary of the Company, obtained a credit facility of USD50 million (or equivalent amount in RMB) from the Asian Development Bank (“ADB”), and the loan capital will be used to replenish the working capita.

This is the first time Tian Lun Gas (a listed company) has obtained a loan from the Asian Development Bank. The support from ADB will help Henan Tian Lun and its five subsidiaries to maintain operations, and will assist the recovery of China’s economy from the impact of the Coronavirus disease 2019 (COVID-19).Meanwhile, this loan will focus on opening up the last mile of natural gas supply, as one of the three pillars of the world energy, natural gas is widely used in heating and cooking for residential consumers, and in thermal power generation and industrial processes for commercial and industrial consumers, so as to provide end users with cleaner energy and help achieve the national dual-carbon goals.

In early 2020, COVID-19 pandemic has swept across the world and raged in China. The Board believes that during the period, the Group earnestly implemented the government’s epidemic prevention and control policies and took the initiative to shoulder its social responsibility. It ensured the uninterrupted supply of natural gas to residents, and decisively implemented the measure of “not suspending gas supply despite payments in arrears to ensure a warm winter”. Besides, the Group launched a series of activities to care for disadvantaged groups such as single mothers, widowed elderly and left-behind children.

The loan of USD50 million granted to Tian Lun Gas is a high recognition of Tian Lun Gas’s corporate mission and social responsibility. The Group will continue its corporate mission of “To improve the living environment, to develop clean energy”, and is committed to the promotion and use of natural gas in China to help China achieve a carbon emission peak by 2030 and carbon neutrality by 2060. It will actively fulfill its corporate social responsibilities to benefit people’s livelihood.

It is reported that headquartered in Manila, Philippine, ADB was established in 1966 and has grown to encompass 68 members now — of which 49 are from within Asia and the Pacific. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty in the region.

   Source: Zhitongcaijing