About HUZHOU GAS Company

According to the Frost & Sullivan report, in 2021, we (i) are the largest pipeline gas distributor in Huzhou, the main prefecture-level city in Zhejiang Province, China, with a market share of 44.1% in Huzhou; and (ii) in terms of sales volume, we are the fifth largest pipeline gas distributor in Zhejiang Province, with a market share of 3.0% in Zhejiang Province. According to the Frost & Sullivan report, Huzhou's natural gas consumption in 2021 accounted for 6.9% and 0.3% of the natural gas consumption in Zhejiang Province and China, respectively. According to the franchise agreement, we have been the exclusive pipeline gas distributor in the Wuxing business area and Nanxun business area since 2004 and 2009. Our business area does not necessarily equal the entire legal administrative area of Wuxing District and Nanxun District. During the track record period, our main business included (i) selling gas under franchises, mainly piped natural gas; (ii) providing construction and installation services to build and install end-user piping networks and gas facilities for real estate developers and customers such as owners or residents of residential and non-resident properties; and (iii) others, including the sale of household gas appliances.