Mr. Tommy Cheng is the Co-Chairman of Blue Sky Power Holdings Limited (HKSE 6828, Blue Sky Power). In merely three years, Tommy has successfully transformed China Print Power Holdings Limited (former name of Blue Sky Power), a small scale printing business in Hong Kong, to become Blue Sky Power, an industry-recognized natural gas operator and distributor in the PRC with operations in more than 10 provinces. Tommy’s vision is to bring to the world bluer sky through the provision of natural gas, which Tommy believes is the most efficient and economic form of clean energy.
Tommy is a fan of Bruce Lee. One among many quotes of Bruce Lee stands out the most to him: “Do not pray for an easy life. Pray for the strength to endure a difficult one.” Despite the ups and downs in international energy prices in recent years, Tommy’s determination to build an influential energy company remained unwavering. Tommy is instrumental to connecting Blue Sky Power with industry giants – “China’s Big Three Oil”, namely CNPC, CNOOC and Sinopec – with solid business cooperation. Blue Sky Power established joint venture with CNPC in Guizhou and co-invest in gas stations in Anhui and a LNG receiving terminal in Hainan. Through its subsidiaries, Blue Sky Power distributes imported LNG from CNOOC’s receiving terminal in Ningbo, Zhejiang, to LNG users in the Yangtze River Region, and from Sinopec’s receiving terminal in Dongjiakou, Shandong, to local users.
Tommy strives to make Blue Sky Power competitive in the capital markets by holding the highest compliance standards under regulatory bodies’ guidance, as well as implementing a pragmatic and forthcoming investor relations program by constantly reaching out to fund managers, research analysts and other participants in the financial markets. Tommy is also actively participating, organizing and/or sponsoring various natural gas industry events as he knows it is essential for the investment community to have a clearer understanding of how the natural gas industry is positioned as a sustainable and economical clean energy source under China’s 13th Five Year Plan. With its business model and investment strategies became recognized by both industry and financial players, Blue Sky Power successfully attracted Templeton Asset Management Limited’s Emerging Markets Group and Haitong International Securities Group Limited (HKSE 665) as strategic investors in 2015. Tommy’s efforts paid off when Blue Sky Power was included as constituent of the MSCI Hong Kong Small Cap Index in May 2016, which has benefited the company to have a more diversified shareholder base and a more actively traded daily turnover of the stock.
Perhaps the most profound transaction for Blue Sky Power in 2016 is the successful introduction of Beijing Gas Group Company Limited (Beijing Gas), a wholly-owned subsidiary of Beijing Enterprises Holdings Limited (HKSE 392) to become its single largest shareholder. Beijing Gas is the largest single city gas operator in the PRC and the third largest in the world. The endorsement and support from Beijing Gas provided a solid foundation for the company to thrive in the competitive industry landscape. It is also a vote of confidence to Tommy’s entrepreneurship in building sustainable organizational platforms, attracting highly talented industry professionals to Blue Sky Power’s working team and in seeking business collaboration with industry players big and small.
After graduation from University of Alberta, Canada, with a Bachelor of Commerce in mid 1990s, Tommy started his career as a management trainee in New World Development Company Limited (HKSE 17) (New World)’s China Division. In 1999, at the age of 24, Tommy led the IPO exercise of New World China Land Limited (HKSE 917), the flagship Mainland China property arm of New World which was privatized recently in 2016. Witnessing China’s phenomenal economic evolution in the past two decades, Tommy is a firm advocate of the State’s economic reforms and look forward to a more liberalized and sustainable investment landscape in the years to come.
After leaving New World in 2003, Tommy went on his career in the resource space, where he managed various metals and energy companies, some of which were listed in the Toronto Stock Exchange Venture Board or the Hong Kong Stock Exchange. In 2009 he became active in managing an oil and gas exploration package in northern Argentina and successfully amalgamated and nurtured the portfolio to achieve a current production in excess of 1,000 barrels per day. From these projects, Tommy acquired more knowledge, experience and network in the energy sector.
Tommy has a strong commitment to Hong Kong and PRC youth exchange, which he believes can foster more understanding and genuine friendship amongst young people living in the same country but geographically apart. Being the founder and President of the Hong Kong Ningxia Youth Association (NXYA), the Vice-president of Hong Kong Ningxia Federation of Association and the Permanent Honorary President of Ningxia (HK) International Industrial & Commercial Association Limited, he takes a personal interest to help organizing and promoting events that foster closer ties between Hong Kong and Ningxia, with the hopes to form a strengthened connection between the youth and businessmen of Hong Kong and Ningxia.
Through Tommy’s dedication to environmental preservation, he has a true vision and commitment to promote natural gas as an economic, reliable and safe clean energy and, for the good of the country, to eventually turn it into a preferred primary energy source.
Tommy’s mission is to bring sustainable environment and to promote environmental awareness. True reward for Tommy is knowing that his work will have a lasting and meaningful effect on the world. The quote “Rome wasn’t built in a day, but they were laying bricks every hour” mirrors Tommy’s attitude towards work. Saving the environment will take time, yet one should not simply believe that any task is too small or insignificant. Building “blue sky for a better future” will definitely take more than a day, but we trust that we should all do our parts and gradually work towards that goal.