JD Capital-invested Gas Company Listed on NEEQ
Xinjiang Huoju Ranqi Co., Ltd. (Xinjiang Huoju, 832099), a JD Capital-invested gas company, was listed on the National Equities Exchange and Quotations (NEEQ) on March 10.
Established in 2003, Xinjiang Huoju mainly deals in urban gas operation in Kashi Prefecture (including Kashi city, Shufu County and Shule County). Specifically, it sells gas and installs gas facilities and equipment for customers. It is currently the second largest natural gas company in south Xinjiang, monopolizing pipeline gas operation in “one city and two counties” in Kashi Prefecture.
Since the gas industry came into being in the 19th Century, the urban gas source has witnessed multiple changes, from coal gas to oil gas and now natural gas. Thanks to its high calorific value, little environmental pollution and low cost, natural gas now plays an increasingly important role in China’s shift of economic growth pattern, and its range of application is constantly expanding.
In recent years, urban gas in China has been widely adopted for residential, industrial and commercial use, as well as by sectors like transportation and distributed energy. Gas supply is constantly increasing as market demand rapidly grows. Besides, as urbanization picks up speed, the rapid expansion of urban population has driven up the number of gas users and market demand, creating a huge market potential for urban gas industry.
So far, JD Capital has invested in five gas enterprises. The fund it runs is the second largest shareholder of Xinjiang Huoju, holding 24% of its stakes prior to the public issuance.