Commencing with just two joint ventures in Guangdong province and less than 5,000 customers in 1994, we have seen rapid growth in our gas businesses on the mainland over the past two decades. In 2002, Hong Kong & China Gas Investment Limited was set up in Shenzhen to manage the Group's investments in mainland China. In 2007, Towngas acquired Panva Gas Holdings Limited, a Hong Kong listed company, becoming its main shareholder. The company subsequently changed its name to Towngas China Company Limited with a focus on piped city-gas projects.
With over 130 city-gas projects, we are the leading piped city-gas operator in the country, serving more than 25 million residential, commercial and industrial customers.
Providing one-stop shop services, we also introduced our own "Bauhinia" brand in 2005 offering a wide range of safe and quality appliances, which have achieved highly satisfactory sales records to date.
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