32.2 C
Vientiane
Friday, May 16, 2025
spot_img
Home Blog Page 2356

Carbon Neutrality Solutions Provider, NEFIN Group, Joins Forces with Global Snacking Giant, Mondelēz International, to Create a Sustainable Future for the Industry

  • Industry-leading NEFIN Group bolsters snacking giant Mondelēz International sustainability efforts with solar panel installation project at the company’s plants in Shah Alam and Prai.
  • The manufacturing plant’s rooftop solar panel installation aims to offset close to 29,000 tons of CO2 gas emissions over the next 25 years.

HONG KONG SAR – Media OutReach – 28 March 2022 – Carbon neutrality solutions provider, NEFIN Group today announced its partnership with global snacking giant, Mondelēz International (Malaysia) to install solar panels on the roof of its manufacturing plants in Shah Alam, Selangor and Prai, Pulau Pinang. Having pioneered several industrial rooftop solar systems for multinational companies across Asia Pacific, the partnership is set to accelerate Mondelēz’s sustainability efforts by reducing its environmental impact through renewable energy.

“These manufacturing plants in Shah Alam and Prai are NEFIN’s first two photovoltaic installation projects with Mondelēz International in Malaysia, after our first successful partnership with Mondelēz International (Thailand) in Lad Krabang. Talks for other similar projects in Southeast Asia are under way, and we are working closely with Mondelēz to achieve sustainability in their manufacturing plants,” says Mr. Chong Bor Hung, NEFIN Group’s Head of Business Development and Managing Director (Malaysia).

Ms. Narmeen Khan, Managing Director of Mondelēz International for Malaysia and Singapore, commented, “We have transparent sustainability goals to achieve by 2025, and are committed to scaling up our sustainability efforts to deliver meaningful change. Following the project at the Shah Alam plant, we have also just awarded the solar panel installation project for our manufacturing plant in Prai to NEFIN for the next phase in Malaysia. This partnership with NEFIN is progress towards our goal of creating a sustainable future for snacking and will help us reduce our end-to-end absolute CO2 emissions.”

As a global leader in snacking with operations in more than 150 countries, Mondelēz International is paving the way to a new more sustainable future, by creating snacks the right way for both people and the planet to love. In Malaysia, it owns two manufacturing plants – a chocolate plant in Shah Alam manufacturing Cadbury Dairy Milk, and biscuits and salty snacks plant in Prai manufacturing Twisties, Jacob’s, and Chipsmore.

The project with NEFIN in Malaysia further builds on Mondelēz International’s existing targets set in 2020, developed to contribute to combatting climate change. The installation of 1,266 solar panels at the Shah Alam plant and 1,754 solar panels in Prai aims to offset 29,000 tons of CO2 over the next 25 years, equivalent to planting around 146,800 trees. Accumulatively, the plants are estimated to produce 1.8 million kWh of energy in the first year alone, with the company potentially saving up to RM11.18 million over the 25 years period.

In addition to their energy-saving initiatives, Mondelēz International (Malaysia) is also a founding member of the Malaysia Recycling Alliance (MAREA) who have collectively pledged to recycle a minimum of 25% of their members’ packaging volumes by 2025. Through both of its manufacturing plants in Malaysia, Mondelēz also reported a combined reduction of water consumption by 18.6% and waste by 11.3% in 2021 over the previous year.

For multinational companies with a presence across the Asia Pacific region, NEFIN’s broad network of local partners across the region is positioned to simplify the process of delivering solutions across borders. This has contributed to their success in delivering over 3,000MW of utility-scale, commercial, and industrial rooftop solar systems regionally in its combined portfolio.

About NEFIN Group

NEFIN Group is a regional renowned carbon neutrality solutions provider and investor with a bespoke unified energy management platform committed to achieve carbon neutrality for organizations and is backed by AC Energy. Founded by a core management team of DuPont Solar Business, the management team has grown into a well-rounded team of engineers, legal experts, investment bankers and techno-commercial experts with the combined experience of over 40+ years of project development in Asia and 50+ years of engineering experience. NEFIN Group has over 3000MW of utility-scale, commercial, and industrial rooftop solar systems in its combined portfolio regionally. As a strong cohesive team, NEFIN Group is able to offer a comprehensive 360-degree assessment and full-suite of services on socially responsible and commercially viable projects through innovative approaches to technology under its unified energy management platform. NEFIN believes the future of the world is everyone’s responsibility and strives to redefine energy boundaries towards a sustainable future.

Please refer to NEFIN’s website for more information and follow us at .

About Mondelēz International (Malaysia)

Mondelēz International (Malaysia) is part of the Mondelēz International group of companies which empowers people to snack right in over 150 countries around the world, with a strong presence in Southeast Asia. With 2020 net revenues of approximately USD 27 billion, Mondelēz International is a member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index.

Mondelēz International is leading the future of snacking with iconic global and local brands such as Cadbury Dairy Milk chocolate, Cadbury Zip chocolate wafer, Cadbury 5 Star chocolate, Toblerone chocolate, OREO cookies, Chipsmore cookies, Jacob’s biscuits, Tiger biscuits, Philadelphia cheese, Kraft cheese, Chachos chips, Chipster chips, Twisties snacks and many more. We’ve been part of Southeast Asia for more than 70 years, with operations in Malaysia, Indonesia, the Philippines, Singapore, Thailand and Vietnam. Our 7,000+ colleagues work across our ten manufacturing locations – including the plants in Shah Alam and Prai – two research and development technical centers and our sales and marketing network to create products that people can truly love and feel good about. From indulgent treats to wholesome bites, consumers can enjoy the right snack, for the right moment, made the right way.

Visit and follow us on social media , , and
#NEFIN #MondelēzInternational

The issuer is solely responsible for the content of this announcement.

AXA offers free additional ‘Cleaning and Sanitising Benefit’ to home contents insurance and SME customers

HONG KONG SAR – Media OutReach – 28 March 2022 – In light of the ongoing outbreak of COVID-19, AXA Hong Kong (AXA) takes another step to safeguard our customers. From today until 30 April 2022, AXA’s designated home contents insurance and small and medium enterprise (SME) customers are entitled to a free additional ‘Cleaning and Sanitising Benefit’ to ensure a safe and healthy environment for themselves, their loves ones as well as their employees.

A free ‘Cleaning and Sanitising Benefit’ for designated customers

Home contents insurance customers

During the coverage period, if the policyholders of AXA’s home content insurance plans[1] or anyone living with the policyholders at the insured address is tested positive for COVID-19, AXA will reimburse the home cleaning and sanitising expense up to HKD800, to provide a safe living environment for customers.

SME customers

To ensure a COVID-free workplace for our SME clients, AXA ‘SmartPlan Office’ and ‘SmartPlan Shop’ customers can enjoy a maximum reimbursement amount of HKD1,500 for the professional cleaning and sanitising service, when current employee(s) of the insured company at the insured premises is/are tested positive for COVID-19.

The claims must be submitted along with positive COVID-19 test report[2], receipt of the professional cleaning and sanitising service and the address proof[3] or the attendance record[4] of the COVID-19 case within one month since their diagnosis.

At AXA, our Purpose is to “Act for human progress by protecting what matters”. Last year, we launched “Post-Vaccination Protection” Progrmme and were the first insurer to make “Benefits for Hospital Income (COVID-19)” a standard policy provision for Employee Benefits customers, giving our customers a peace of mind and supporting the community amid the pandemic. This year, we also launched the “Free AXA SportCare Programme” to encourage the public to maintain an exercise routine for a healthy life amid the pandemic with sports protection.

The above coverage is subject to the relevant terms and conditions. To know more about the COVID-19 policy coverage and services, please visit: https://www.axa.com.hk/en/axa-novel-coronavirus-outbreak.


[1] Eligible in force home content insurance plans include Aon Home Care, Family Protection Plan, JLT Home Insurance, SmartHome Essential, SmartHome Optimum, SmartHome Plus, Supreme Home – Executive Plan, Supreme Home Package, Executive Staff Insurance, HomeSurance, HomeSurance (Government Home Ownership Scheme and Tenants Purchase Scheme), HomeSurancePlus, HomeSurance Super, HSBC Premier – Home Contents, Personal Insurance Package and ResidenceSurance.
[2] COVID-19 test report issued by a hospital, a registered doctor or a Community Tests Centre, or isolation order/quarantine order issued by HKSAR Government after registration at HKSAR Government Rapid Antigen Test Positive online registration platform: http://www.chp.gov.hk/ratp with complete document upload, for the person residing at the insured address or employed at the insured premises.
[3] For AXA’s home contents insurance customers only.
[4] Proof of the confirmed case who was employed under the insured company and had reported duty at the insured premises within 7 days before COVID-19 was diagnosed. For AXA’s SME customers only.

About AXA Hong Kong and Macau

AXA Hong Kong and Macau is a member of the AXA Group, a leading global insurer with presence in 50 markets and serving 95 million customers worldwide. Our purpose is to act for human progress by protecting what matters.

As one of the most diversified insurers offering integrated solutions across Life, Health and General Insurance, our goal is to be the insurance and holistic wellness partner to the individuals, businesses and community we serve.

At the core of our service commitment is continuous product innovation and customer experience enrichment, which is achieved through actively listening to our customers and leveraging technology and digital transformation.

We embrace our responsibility to be a force for good to create shared value for our community. We are proud to be the first insurer in Hong Kong and Macau to address the important need of mental health through different products and services. For example, the Mind Charger function on our holistic wellness platform “AXA BetterMe”, which is available via our mobile app Emma by AXA, is open to not just our customers, but the community at large. We will continue to foster social progress through our product offerings and community investment to support the sustainable development of Hong Kong and Macau.

THIS PRESS RELEASE IS AVAILABLE ON AXA’S WEBSITE:

IMPORTANT LEGAL INFORMATION AND CAUTIONARY STATEMENTS CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements contained herein may be forward-looking statements including, but not limited to, statements that are predictions of or indicate future events, trends, plans or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause AXA’s actual results to differ materially from those expressed or implied in the forward-looking statements. Please refer to Part 4 – “Risk factors and risk management” of AXA’s Universal Registration Document for the year ended December 31, 2019, for a description of certain important factors, risks and uncertainties that may affect AXA’s business, and/or results of operations. AXA undertakes no obligation to publicly update or revise any of these forward-looking statements, whether to reflect new information, future events or circumstances or otherwise, except as part of applicable regulatory or legal obligations.

#AXA

The issuer is solely responsible for the content of this announcement.

Bodies of Two Men Discovered Buried in Vientiane Forest

Forest

The unidentified bodies of two men were discovered buried in a forested area on the outskirts of Vientiane Capital.

Vientiane Rescue 1623 Teams Up with International Partners to Raise Awareness on The “Power of No” when Drinking and Driving

The Power of No road safety campaign

Cross-market awareness campaign aims to promote responsible behaviors around drink driving in Southeast Asia to help reduce the incidence of road crashes, the #1 killer amongst young adults.

GogoHerbs x Amphib.io – COVID-19 Self-Testing Kits in Vending Machines

HONG KONG SAR – Media OutReach – 28 March 2022 – As the fifth wave of COVID-19 hits Hong Kong hard, Gogo Herbs, a well-known health food store in Hong Kong, formed an alliance with Amphib.io to cooperate on selling COVID-19 rapid antigen detection kits by vending machines in estates, offering the citizens a convenient and safe way to buy self-testing kits.

Convenient and Safe

Since the pandemic continues to spread, an antigen test will take you just 15 minutes to get the result at home and to ensure that you and your family are safe. However, it’s not easy to get one as leaving the house means taking the risk of infection and online-order can’t arrive in time recently. Gogo Herbs cooperates with Amphib.io, a vending machine operator, to try to offer self-testing kits by vending machines in Hong Kong, which will help the citizens to obtain them 24/7 safely, avoiding people gathering.

Three Pilot Locations:

1. Park YoHo, 18 Castle Peak Rd – Tam Mei, Yuen Long, HK
2. Central Pier 4
3. Central Pier 6

Bulk Order

Customers can also place orders on Gogo Herbs official website and all the products will be delivered safely. Gogo Herbs provides COVID-19 rapid antigen detection kits from YHLO and Goldsite. Both of them are CE accredited and are able to detect Omicron and Delta variants. To guarantee employees’ safety, Gogo Herbs offer COVID-19 Rapid Antigen Detection Kits in original boxes for companies and organizations with fast shipping and delivery in Hong Kong. And epidemic prevention products like masks and hand sanitizers are available on the official website as well.

Order Online:
https://gogoherbs.com/en/covid-19-antigen-detection-kit/

About Gogo Herbs

With a strong medical and nutrition team, Gogo Herbs choose the most suitable health care products for our customers from many choices in the market to achieve “health for all”. Also, Gogo Herbs provides you with a convenient online ordering process, as well as a fast delivery service to ensure that you can easily obtain the you need. What’s more, our experienced customer service representatives and health consultants will provide you with professional services after understanding your health needs to make a personalized nutrition plan.

#GogoHerbs

The issuer is solely responsible for the content of this announcement.

Support Social Enterprises in Hong Kong : Holy Cafe.Manna.Joyous Kitchen Donate to support the underprivileged and join hands to fight the virus

HONG KONG SAR – Media OutReach – 28 March 2022 – The COVID-19 pandemic continues to adversely impact the city since the fifth wave. Whether it will soon come to an end so that our social life can recover promptly still remains questionable. Hong Kong based non-profit organization Fullness Social Enterprises Society (FSES) has always been a supportive member for local social enterprises. FSES organizes a signature social innovation programme called Tithe Ethical Consumption Movement (TECM) annually with its aim to support the development of social entrepreneurship and to promote the concept of ethical consumption in Hong Kong.

Knowing that many people are suffering from the pandemic, FSES takes initiative to call for donations and resources from the public, to support SEs in their community support projects helping underprivileged in the community.

“Social enterprise” plays an important role in the society. They are not merely a business, but a business with an aim to achieve specific social objectives through entrepreneurial strategies. SEs strive to “do good” to the society while running the business sustainability.

Despite the pandemic, SEs in different industries are working hard to maintain their operations so that their employees (maybe from underprivileged groups), can maintain their income. Nonetheless, with the fifth wave of the COVID-19 pandemic, and the tightened social distancing measures as well as a shortage of supplies, SE restaurants are suffering to keep up with their community support projects such as free meal distribution.

FSES has invited three SE restaurants, Holy Café, Manna, and Joyous Kitchen, who are continuing their community support projects during this challenging time, to share their work with us. In addition to supporting SEs with consumption, donating surplus materials to SE can also support their operation and maximize the resource usage as they extend the support to the community.

Holy CaféHope to continue meal distribution to help the elderly

Holy Café mainly provides employment opportunities for the disadvantaged in the hope of their better integration into society and self-reliance in the future. Although its new store has suspended their business under the pandemic, Holy Café did not cease its regular free meal distribution to the elderly at the restarurant. Currently, free meals will be distributed every Tuesdays, Thursdays, and Saturdays, with approximately 4,000 meal boxes distributed every month.

Mrs. Song, the founder of Holy Café, expressed her hope to continue the free meal distribution to help the elderly despite the overwhelming impact on their restaurant due to the pandemic. “Many solitary elder are trapped at home without care, and they can’t even buy medicine,” she said.

“If we have donations, we can buy food for the elderly. Recently, there are a lot of generous donors who have sent us rapid test kits, masks, hand sanitizers, and medicines to give to our elderly. This pandemic has been a very challenging time for most social enterprises, particularly those in the restaurant and catering industry. Both resources and materials are desperately in need. Holy Café is with no exception. I hope that generous donors could call for more people to support social enterprises.”

Despite the pandemic, Holy Café continues to provide regular free meal distribution service to the elderly.
Currently, free meals will be distributed every Tuesdays, Thursdays, and Saturdays, with approximately 4,000 meal boxes distributed every month.
In additon to meal distribution, generous donors have sent Holy Café rapid test kits, masks, hand sanitizers, and medicines to distirbute to the elderly.

MannaThe most pressing need is manpower

Manna supports poverty alleviation through their restaurant and catering services. Manna hopes to reach and assist low-income and disadvantaged groups through catering services, and become a bridging agent between the community and the Christian community. Prior to the pandemic, Manna has set up a peer support group with grassroots families and the solitary elderly at the restaurant. However, it was paralyzed due to the pandemic, thus they have extended the support by delivery food and resources to doors and provide emotional counselling etc. With the COVID-19 restrictions, the restaurant is currently only doing takeaway meals and free meal distributions for the underprivileged. Leo, the founder of Manna, stated that their current focus is to provide free meal delivery services in Kwun Tong and Sham Shui Po districts; about 20,000 meal boxes are distributed every month.

“The most pressing need for the restaurant is not money, but manpower. Many volunteers had been infected with coronavirus and need to be quarantined, which puts manpower pressure on the restaurant,” said Leo. He also expressed that they are now most concerned about the homeless, the solitary elderly, families in subdivided housing, and cleaning workers. “We also deliver anti-epidemic kits, rapid test kits, and regularly update them with government information. The information sources of the solitary elderly and families in subdivided housing are probably not as updated as ours. If you are willing to join us to support this group of grassroots friends, 1) you can support by buying free meal coupons for the grassroots; 2) you can donate rapid antigen test kits; and/ or 3) you can volunteer in person, which is what we need the most!”

Manna currently focuses on providing free meal delivery services in Kwun Tong and Sham Shui Po districts, with about 20,000 meal boxes distributed every month.
In additional to distributing free meals, Manna also delivers anti-epidemic kits, rapid test kits, and regularly updates the needy with the latest government information.
Leo suggested that those willing to help can donate to buy their free meal coupons for needy, donate rapid antigen test kits, and/ or volunteer in person.

Joyous KitchenCatering suspended, Meal box business plummeted

As a social enterprise under Jubilee Ministries, Joyous Kitchen generally offers catering and meal boxes services to various NGO support centres, from which the profits generated will be channelled to providing free meals to the grassroots. Unfortunately, with the great hit from the pandemic, not only the catering service has suspended, but the sales of the meal box services has also drastically reduced. “We have not estimated the impact of our business suspension. But the needs of the underprivileged in this neighborhood still exist and they do need the meals. Thus, besides our regular meal boxes services for NGO support centres, and we now provide do door to door delivery to those in need. However, we have shifted from making ready-to-eat rice boxes to chilled food packs so the needy can reheat them whenever they need. Hopefully, all the needy can still have a nutritious meal during this difficult time,” said Jonathan of Joyous Kitchen.

Joyous Kitchen has set up a “Pandemic Emergency Relief Collection Point” at their centre Jordan, for compiling food and related resources for sorting and delivery to low income families who are heavily affected by COVID-19. “Families with members infected with COVID-19 cannot leave their home. Yet, they are still in need of food. Our co-workers and volunteers can help distribute the resources and chilled food packs directly to these homes. We welcome donation of dry food, epidemic prevention supplies, resources, and/ or monetary donation to support us on the production of meal packs for the needy,” Jordan added.

The main business of Joyous Kitchen is remote catering and meal boxes, from which the profits generated will be channeled to providing free meals to the grassroots.
Under the pandemic, Joyous Kitchen shifted from making ready-to-eat rice boxes to chilled food packs so the needy can reheat them whenever they need.
Joyous Kitchen has set up a “Pandemic Emergency Relief Collection Point” at their centre in Jordan, for compiling food and related resources for sorting and delivery to low income families heavily affected by COVID-19.


Donate to support the underprivileged and together we fight the Virus!

Despite the challenges, the three social enterprises are still very committed in providing the support services to the underprivileged. As members of the community, we can also contribute to support these social enterprises with consumption and donate resources to them to support their community support projects.

Donating supplies is as important as donating money. Helpful resources include anti-epidemic products like masks, alcohol hand sanitizers, healthy drinks, or food ingredients like meat, vegetables, and fruits. The donations can lighten the burden of the social enterprises so that they can free up more resources to help more people in need. For more donation details, please refer to the website of TECM: www.tecm.hk

In 2021, TECM has introduced various activities to assist social enterprises, from launching TECM MALL, an online shopping platform for SE products and hosting family themed Christmas Bazaar, to lining up charity campaign among corporate and social enterprises. Although all the activities have rounded off, FSES will continue their work in supporting social enterprises in Hong Kong.

About Fullness Social Enterprises Society (FSES)

Contribute Profession, Promote Innovation, Advance the City

Fullness Social Enterprises Society Limited (FSES) (www.fses.hk) is an NGO established in 2011 by a group of knowledge volunteers to support social innovation and social entrepreneurship development in Hong Kong for societal betterment. FSES works to create practical knowledge to social enterprises through coaching, training, education, applied research, and publishing. The goal is to develop a structured Social Entrepreneurship Body of Knowledge (SE-BoK) for Hong Kong. The knowledge volunteer team has over 100 members equipped with academic, social and business expertise, steering projects in five major sectors including social, consumer, commercial, education, and church.

Tithe Ethical Consumption Movement (TECM) is a social innovation programme connecting the government, corporate, social enterprise and volunteer to strengthen the development of social entrepreneurship, as well as the promotion of ethical consumption in Hong Kong.

Official Website:

TECM website: www.tecm.hk

About Holy Café

Holy Café provides employment opportunities for the disadvantaged in the hope of their better integration into society and self-reliance in the future.

Holy Café Website:

Holy Café Facebook:

About Manna

Manna supports poverty alleviation through their restaurant and catering services. Manna hopes to reach and assist low-income and disadvantaged groups through catering services, and become a bridging agent between the community and the Christian community.

Manna Website:

Manna Facebook:

About Joyous Kitchen

Joyous Kitchen is a social enterprise under Jubilee Ministries offering catering and meal boxes services. The profits generated will then be channelled to providing free meals to the grassroots.

Joyous Kitchen Website:

Joyous Kitchen Facebook:

#FullnessSocialEnterprisesSociety

The issuer is solely responsible for the content of this announcement.

Cambodian and Japanese PMs Call for Peace in Ukraine, Myanmar

Cambodian Prime Minister Hun Sen (left) and Japan's Prime Minister Fumio Kishida during a welcome ceremony at the peace palace in Phnom Penh (AFP).
Cambodian Prime Minister Hun Sen (left) and Japan's Prime Minister Fumio Kishida during a welcome ceremony at the peace palace in Phnom Penh (AFP).

The prime ministers of Cambodia and Japan have issued a joint statement calling for peace in Ukraine and Myanmar.

Yanchang Petroleum International Announces 2021 Annual Results

Achieved Profit Turnaround

Annual Profit Reached Approx. HK$360 million

Operating Profit of Oil and By-product Trading Business in the PRC Increased by 42.5% to nearly HK$82 million

Financial Highlights:

  • Overall revenue amounted to approx. HK$19.8 billion (2020: HK$27.2 billion)
  • Profit of the year reached approx. HK$358 million (2020: loss of approx. HK$793 million)
  • Operating profit of the exploration, exploitation and operation business increased significantly to HK$23.91 million (2020:loss of approx. HK$68.24 million)
  • Novus’ sales volume of oil and gas amounted to 482,000 BOE, contributed revenue of approx. 200 million (2020: approx. 95.83 million)
  • Operating profit of the oil and by-product trading business in the PRC increased by 42.5% yoy to approx. HK$81.69 million (2020: HK$57.34 million)

HONG KONG SAR – Media OutReach – 25 March 2022 – Yanchang Petroleum International Limited (“Yanchang Petroleum International” or the “Company”, together with its subsidiaries, the “Group”; Stock Code: 00346) today announces its audited annual results for the year ended 31 December 2021 (“year under review”).

Starting from the second half of 2021, the petroleum market underwent changes from oversupply to undersupply, resulting in international oil prices rebounding significantly. As the pandemic subsided, the vaccination rate of major economies in Europe and the USA significantly increased and lockdown measures were gradually lifted, leading to a robust demand in the overall oil market. Yanchang Petroleum International seized the opportunity to position its upstream business in advance while optimizing the operation efficiency of the oil and gas business chain. Consequently, it had recorded its best performance in the past seven years, successfully achieving a profit turnaround. During the year under review, the Group’s revenue mainly derived from the oil and gas production business in Canada and the oil and by-products trading business in the PRC, with the overall revenue reaching approximately HK$19.8 billion (2020: HK$27.2 billion). The profit of the year amounted to approximately HK$358 million, as compared to the loss of approximately HK$793 million in 2020. The Board does not recommend the payment of any dividends for the year ended 31 December 2021.

Upstream oil and gas production business in Canada

Novus Energy Inc. (“Novus”) is engaged in Novus is engaged in the business of exploration, exploitation and production of oil and natural gas in Western Canada. During the year under review, Novus achieved sales volume of oil and gas of 482,000 barrel of equivalent (“BOE”) and contributed revenue of approximately HK$200 million as compared to sales volume of 463,000 BOE and revenue of approximately HK$95.83 million in 2020.

During the year under review, the operating profit of the exploration, exploitation and operation business amounted to approximately HK$23.91 million, as compared to an operating loss of HK$68.24 million in the past year. In the first half of 2021, Novus restarted the operation of its long-clos wells, increased its production volume and made reasonable inventory adjustment according to oilfield operation in a bid to control costs and optimize economic benefits. During the year under review, the net drilling by Novus was 33 wells, and Novus had 427.2 horizontal wells and 71.8 vertical wells in production as of 31 December 2021. With the local government gradually lifting the pandemic-related lockdown measures, the staff at the Novus site strived to cut down costs while keeping as many wells in normal operation as possible. The operating expenses in 2021 were CAD9.30 million in total, slightly up by CAD270,000 as compared with CAD9.03 million in the same period last year.

Downstream Oil and By-product Sales Business in the PRC

During the year under review, due to a decrease in sales volume from 6.36 million tonnes in 2020 to 4.89 million tonnes in 2021, the revenue of oil and by-products trading business in the PRC was HK$19,577 million, contributing a segment operating profit of approximately HK$81.69 million, which represented an increase of 42.5% year-on-year.

Henan Yanchang Refined Oil Business

Benefited from the outstanding performance in oil distribution, external sourcing and terminal development of Henan Yanchang Petroleum Sales Co. Limited (“Henan Yanchang”), the business of Henan Yanchang has achieved consistent growth. During the year under review, Henan Yanchang sold a total of 4.095 million tonnes of refined oil, achieved operating income of approximately RMB23.36 billion with total operating profit of approximately RMB31.141 million.

For oil distribution, Henan Yanchang actively developed regional markets such as Ningxia, Sichuan, Gansu and Qinghai, and developed 7 new customers during the year under review. In addition, Henan Yanchang leased oil tanks through the co-operation with Sinopec to balance market fluctuations while expanding sales channels. For external sourcing, Henan Yanchang continued to deepen the cooperation with its customers, actively expanded its business in Ningxia, Hubei and Henan, and acquired 19 new customers and 35 suppliers; Henan Yanchang also completed the upgrading and transformation of three gas stations in Xiangcheng and put them into operation. It recorded the highest intraday retail sales volume of over 22.5 tonnes, and signed contracts with two direct supply gas stations in Ningxia region.

Yanchang Zhejiang Oil and By-product Business

Yanchang Petroleum (Zhejiang FTZ) Ltd. (“Yanchang Zhejiang”) recorded oil and by-products product sales volume of 1.12 million tonnes in 2021, representing a year-on-year increase of 236%. The sales revenue was RMB3,760 million, including sales revenue realized from domestic raw oil trade off RMB 2,888 million, and revenue from factory finished product sales of RMB872 million. The operating profit in 2021 was RMB 19.93 million and receivables recovery rate was 100%.

Due to the emergence of the new mutant virus strains and USA working with many other countries to release the countries’ oil reserves to the market in an attempt to suppress the rising oil prices, the uncertainties in the market had been increased. Zhejiang Yanchang took the approach of pre-price setting to actively mitigate risks while safeguarding the price and quality of imported raw materials. In addition, in view of the implementation of the new taxation policy, which raised the procurement cost of the products including diluted asphalt and other products, the demand on the corporations’ cash flow was increased.

Mr. Feng Yinguo, Chairman of Yanchang Petroleum International, said, “Going forward in 2022, the global energy crisis may continue to escalate in the first half of the year. The geopolitical conflicts have profoundly shaken the global energy landscape, which may result in high volatility in international oil prices. The surging oil prices may prompt most countries to accelerate the pace of energy transition. The Group will continue to strengthen its investments in technology, capital and management, while adjusting its organizational structure and business model to cope with the Group’s development strategy in a flexible manner, so as to gear up for the challenges in the new round of industry cycle. For our upstream business, we will continue to boost the production and operation of Novus, and to develop the downstream oil and by-product sales business in the PRC, and actively explore the international petrochemical trading business. As an integrated trading and sub-contracted refining company, Yanchang Zhejiang will take the initiative to adjust this operation plan to cope with external changes.”

About Yanchang Petroleum International (Stock Code: 00346)

Yanchang Petroleum International is principally engaged in the following activities (i) exploration, exploitation, and operation of oil and gas; and (ii) fuel oil trading and distribution. In its upstream operations, Yanchang Petroleum International possesses operating oilfields in Saskatchewan and Alberta, Canada, through its wholly owned subsidiary Novus Energy Inc., a Canadian enterprise. Novus engages in the business of acquiring, exploring for, developing and producing crude oil and natural gas. In its downstream operations, Yanchang Petroleum International is principally engaged in wholesale, retail, storage and transportation of oil products through its 70% owned subsidiary, Henan Yanchang Petroleum Sales Co., Limited, and which has been granted valid licenses for distribution and sales of oil products in China. The Group also established oil products trading companies in Zhoushan, Zhejiang and Shenzhen, China, respectively, for expanding its oil products trading business which become a new profit driver.

For details, please refer to

#YanchangPetroleumInternational

The issuer is solely responsible for the content of this announcement.