Shares were hit by an unimpressive set of full-year results at Greka Engineering & Technology on Tuesday, with losses widening on the back of weaker turnover.
Greka, which provides engineering, procurement, construction and management (EPCM) services for the unconventional gas sector in China, demerged from Green Dragon Gas in September.
In the 12 months ended December 31st, revenue dropped to $3.7m from $5.2m a year earlier, pushing losses to $1.87m compared to $1.32m in 2012.
The infrastructure team built an additional 0.4km trunk line and 2.35km branch line to connect 11 new wells, which raised the gas processed by 84% year-on-year. Additionally, the company has begun to generate incremental power to sell to unaffiliated users.
Chairman Randeep Grewal said: "Since the demerger, the company has focused on establishing itself as an independent operator and on technology integration, resource optimisation and productivity enhancements."
The group's focus has been to enhance the human resources catered to win more market share by providing advanced infrastructure services, EPCM services, gas station refuelling equipment and technology to the customers in China.
Greka explained that its utilisation rates were less than 20% last year, providing for significant upside, which it expects will be achieved in 2014 and the years to follow.
During the year, the group added 30 new customers, a rise of 39% on the previous year. Its equipment sales during the period included 101 dispensers, 11 cylinders, 24 un-loading cylinders and three 75KW well-head compressors.
Vianet Group on Tuesday reported a drop in pre-tax profit for the year ended March 31st, which it blamed in part on pub closures and uncertainty over the statutory code for pub companies.
The firm, which is a real-time monitoring systems and data management provider to the services sectors reported revenue of £18.34m for the 12 months ended March 31st, compared to £21.09m a year earlier.
Pre-tax profit totalled £1.6m, down from £1.8m in 2013.
The number of new vending units installed rose to 2,067 compared to 475 the previous year, although new beer monitoring installations more than halved to 416.
Vianet explained that it has reduced, or substantially cut, the parts of its business which are considered low growth or low margin, whilst re-calibrating its beer flow monitoring operations to mitigate against external market pressures. It had also continued to develop more solutions for its core pub industry clients.
Significantly, the UK government last week published a long-awaited response to the consultation on its proposed Statutory Code for Pub Companies, the result of which is that it intends to legislate to put the existing voluntary code onto a statutory footing.
Vianet said it was "pleased that the uncertainty of the past several years is now being lifted and considers this a satisfactory outcome". However, it suspects that the legislative implementation of the wider statutory code "may remain a distraction for our customers for a period of time yet".
Chairman James Dickson said: "I am pleased to report that good progress has been made across the group's businesses, and by focussing resources on the growth opportunities that we have been developing over the last few years, the positive momentum has helped offset the detrimental effect of the proposed Statutory Code.
"The uncertainty of the past several years is about to be lifted as the government last week published a balanced response to the Pub Company consultation, although we suspect that its implementation will remain a customer distraction for some time.
"However, the group is confident that the on-going high growth Vending opportunities, higher margin activity, and further efficiencies provide an encouraging outlook for 2015. The group's markets, products, customers and people are now in place to deliver earnings growth and there is a solid foundation for future profitability."