Changan Energy (PTLE, Financial), a marine fuel logistics provider, made its debut on the U.S. stock market. As of the latest update, its stock price increased by more than 3.7% to $4.17, following an initial public offering (IPO) price of $4.
Changan Energy specializes in providing fueling solutions for vessels, including container ships, bulk carriers, general cargo ships, and chemical tankers. The company has established a comprehensive network involving upstream suppliers and downstream customers, offering a streamlined fueling solution for ships.
In 2023, Changan Energy reported revenues of $102 million, reflecting a 36.5% increase compared to the previous year. Additionally, the company's net profit rose significantly by 139.4% to $936,100.
