Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 513.51 million, a decrease of 31.83% compared to RMB 753.31 million in 2022[2] - Operating profit increased by 17.74% to RMB 140.77 million from RMB 119.56 million in the previous year[2] - Net profit attributable to equity shareholders rose by 36.41% to RMB 70.84 million, compared to RMB 51.93 million in 2022[2] - Basic earnings per share increased by 36.28% to RMB 0.154 from RMB 0.113 in the prior year[4] - The total comprehensive income for the year was RMB 71.24 million, compared to RMB 47.91 million in 2022, representing a significant increase[6] - The pre-tax profit increased to RMB 107,637,000 in 2023, compared to RMB 76,578,000 in 2022, showing an increase of about 40.6%[37] - The total income tax expense rose to RMB 36,797,000 in 2023 from RMB 24,648,000 in 2022, which is an increase of approximately 49.2%[34] - The basic and diluted earnings per share for the year were RMB 0.154, an increase of RMB 0.041 or 36.28% from RMB 0.113 in 2022[78] Assets and Liabilities - Total assets decreased by 2.81% to RMB 1,729.63 million from RMB 1,779.71 million in 2022[2] - Total equity attributable to equity shareholders increased by 9.56% to RMB 816.13 million from RMB 744.89 million in the previous year[2] - Net debt decreased by 19.79% to RMB 697.62 million from RMB 869.76 million in 2022[2] - The debt-to-capital ratio improved to 46.09%, down from 53.87% in the previous year, reflecting a decrease of 7.78%[2] - As of December 31, 2023, the group's net current liabilities amounted to RMB 284,999,000, compared to RMB 282,850,000 as of December 31, 2022, indicating a slight increase in liabilities[14] - The company's current liabilities increased from RMB 244,755,000 in 2022 to RMB 374,575,000 in 2023, reflecting a rise of approximately 53%[49] - As of December 31, 2023, the total debt of the group is RMB 828,337,000, a decrease from RMB 959,187,000 as of December 31, 2022[84] Revenue Sources - The group's primary business involves the construction, operation, and management of power plants, with revenue derived from energy sales, capacity fees, thermal sales, and operation and maintenance services[24] - The total revenue from electricity sales decreased to RMB 468,882,000 in 2023 from RMB 696,273,000 in 2022, representing a decline of approximately 32.7%[30] - The revenue from heat sales was RMB 44,628,000 in 2023, down from RMB 56,869,000 in 2022, indicating a decrease of about 21.5%[30] - The company reported a total operating and maintenance service revenue of RMB 165,000 in 2022, which was not recorded in 2023[30] - The total sales volume of heat decreased by 20.19% to 113,387 tons compared to 142,073 tons in 2022, with sales revenue dropping by 21.52% to RMB 44,628,000 from RMB 56,869,000 in 2022[59][66] Costs and Expenses - Fuel costs for the year amounted to RMB 211,665,000, a decrease of 54.90% compared to RMB 469,318,000 in 2022[70] - Operating expenses for the year were RMB 372,738,000, down RMB 261,008,000 or 41.18% from RMB 633,746,000 in 2022[74] - Financial costs for the year were RMB 36,878,000, a decrease of RMB 9,682,000 or 20.79% from RMB 46,560,000 in 2022[76] Dividends - The company did not declare an interim dividend and proposed no final dividend, marking a 100% decrease from the previous year's final dividend of HKD 0.026[2] - The company did not declare any dividends for the year 2023, compared to RMB 10,440,000 in dividends declared for 2022[40] - The board decided not to declare a final dividend for the year ended December 31, 2023, due to high debt levels and the need to reserve funds for debt repayment[97] Governance and Compliance - The company has adopted and applied the corporate governance code as per the listing rules, ensuring compliance throughout the year ending December 31, 2023[100] - The audit committee has reviewed the group's annual performance for the year ending December 31, 2023, confirming compliance with applicable accounting standards and regulations[107] - The audit committee consists of three independent non-executive directors, ensuring independent oversight of financial reporting[105] - The company has complied with the corporate governance code and listing rules after appointing Mr. Wei Junyong as the authorized representative on September 13, 2023[101] - The company has ensured that all directors have access to the company secretary's advice and services to comply with legal and regulatory requirements[102] Operational Highlights - The company operates five wholly-owned gas-fired power plants in Zhejiang Province, maintaining a total installed capacity of 688.07 MW[54] - The total electricity generation for the year ended December 31, 2023, decreased by 54.95% to 264,361.73 GWh compared to 586,869.83 GWh in 2022[55] - The total natural gas consumption decreased by 51.54% from 141,333,300 cubic meters in 2022 to 68,496,863 cubic meters in 2023[55] - The photovoltaic generation capacity remained at 1,072 kW, with total photovoltaic generation of approximately 1,135 MWh, up from 777 MWh in 2022[65] - The group saved RMB 618,600 in electricity costs through photovoltaic generation, compared to RMB 389,700 in 2022[65] Future Outlook - The group aims to strengthen its cost management and explore new business models in response to challenges in the electricity market[94] - The Chinese government's commitment to carbon neutrality presents significant opportunities for the group in green energy and diversified energy supply[96] - The company is actively negotiating with its major shareholder regarding overdue loan repayments and exploring other financing options[85]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 232,012,000, a decrease of 32.40% compared to RMB 343,203,000 in the same period of 2022[16]. - Profit from operations for the same period was RMB 70,079,000, slightly down by 0.82% from RMB 70,657,000 in 2022[16]. - Profit attributable to equity shareholders increased by 0.61% to RMB 31,942,000 from RMB 31,748,000 year-on-year[16]. - Basic earnings per share rose by 1.45% to RMB 0.070 compared to RMB 0.069 in the previous year[16]. - Total comprehensive income for the period was RMB 32,520,000, an increase of 17.5% from RMB 27,603,000 in the same period of 2022[39]. - Profit for the period was RMB 31,940,000, slightly up from RMB 31,746,000 in the previous year, representing an increase of 0.6%[35]. - Basic and diluted earnings per share for the period were both RMB 0.070, compared to RMB 0.069 in the same period of 2022, indicating a 1.4% increase[35]. - Profit before taxation for the six months ended June 30, 2023, was RMB 31,942,000, compared to RMB 31,748,000 for the same period in 2022, indicating a slight increase[111]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 1,791,343,000, reflecting a 0.65% increase from RMB 1,779,710,000 at the end of 2022[16]. - Current liabilities increased significantly to RMB 783,940,000 from RMB 504,796,000, resulting in net current liabilities of RMB (503,862,000) compared to RMB (282,850,000) in the previous period[41]. - Non-current liabilities decreased to RMB 230,013,000 from RMB 530,044,000, primarily due to a reduction in interest-bearing borrowings[45]. - Total equity attributable to equity shareholders increased by 4.37% to RMB 777,407,000 from RMB 744,885,000[16]. - Net assets increased to RMB 777,390,000 from RMB 744,870,000, reflecting a growth in reserves[45]. - The Group's current liabilities exceeded its current assets by RMB 503,862,000 as of June 30, 2023, raising concerns about liquidity[62]. Cash Flow and Liquidity - Cash generated from operating activities for the six months ended June 30, 2023, was RMB 107,981,000, down from RMB 122,448,000 in the same period of 2022, indicating a decline of approximately 11.7%[53]. - Net cash generated from operating activities was RMB 81,635,000, an increase of 13.5% compared to RMB 71,986,000 in the prior year[53]. - Cash and cash equivalents rose to RMB 141,276,000 from RMB 89,431,000, indicating improved liquidity[41]. - The net increase in cash and cash equivalents for the six months ended June 30, 2023, was RMB 51,845,000, compared to RMB 66,036,000 in the same period of 2022[53]. - The Group's directors believe that it will generate sufficient cash flows to meet its liabilities over the next twelve months[62]. Revenue Breakdown - Revenue from volume tariff decreased to RMB 58,301,000 in 2023 from RMB 163,573,000 in 2022, representing a decline of approximately 64.3%[82]. - Capacity tariff revenue remained stable at RMB 150,297,000 for both 2023 and 2022[82]. - Revenue from sales of heat decreased to RMB 23,414,000 in 2023 from RMB 29,168,000 in 2022, a decline of approximately 19.6%[82]. - The Group's operation and maintenance services revenue was negligible at RMB 165,000 in 2022, with no revenue reported in 2023[82]. - Revenue from heat sales was RMB 23,414,000, down from RMB 29,168,000 in the same period last year, with a contribution margin of RMB 1,711,000 compared to RMB 4,403,000 previously[198][199]. Expenses and Costs - Operating expenses decreased significantly, with fuel consumption costs dropping from RMB 199,684,000 in 2022 to RMB 80,838,000 in 2023, a reduction of 59.5%[33]. - Administrative expenses decreased slightly from RMB 10,434,000 in 2022 to RMB 9,228,000 in 2023, a reduction of 11.5%[33]. - The company reported net finance costs of RMB 22,383,000, which increased from RMB 21,377,000 in the previous year, marking a rise of 4.7%[33]. - The total income tax expense for the six months ended June 30, 2023, was RMB 17,154,000, down from RMB 20,560,000 in 2022, representing a decrease of approximately 16.5%[103]. - The depreciation charge for owned property, plant, and equipment was RMB 44,921,000 for the six months ended June 30, 2023, compared to RMB 42,883,000 in 2022, reflecting an increase of about 4.7%[97]. Strategic Outlook - The company is focusing on market expansion and new product development as part of its growth strategy[49]. - Future outlook remains positive with ongoing investments in technology and infrastructure to enhance operational efficiency[49]. - The Group's management believes there are no significant uncertainties regarding its ability to continue as a going concern for the next twelve months[64]. Compliance and Reporting - The company did not express an audit opinion on the interim financial report, indicating a review rather than a full audit was conducted[28]. - The interim financial report was prepared in accordance with International Accounting Standard 34, ensuring compliance with relevant financial reporting standards[29]. - The Group's financial report is unaudited but has been reviewed by KPMG, ensuring compliance with relevant standards[67]. - The Group has not applied any new accounting standards that are not yet effective for the current accounting period, indicating stability in accounting practices[71].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 PPUUXXIINNGG EENNEERRGGYY LLIIMMIITTEEDD 普普 星星 能能 量量 有有 限限 公公司司 （於開曼群島註冊成立的有限公司） 90 （股份代號： ） 截至二零二三年六月三十日止六個月之 中期業績公告 財務摘要 截至六月三十日止六個月 二零二三年 二零二二年 人民幣千元 人民幣千元 變動 232,012 343,203 –32.40% 收益 70,079 70,657 –0.82% 經營溢利 31,942 31,748 0.61% 本公司權益股東應佔溢利 +1.45% 每股基本盈利 人民幣 人民幣 0.070 0.069 元 元 每股股息 0% －中期 無 無 於二零二三年 於二零二二年 六月三十日 十二月三十一日 人民幣千元 人民幣千元 變動 ...

Financial Performance - The company reported a profit for the year of RMB 123,674,000, representing a net profit margin of 6.90%[25]. - Revenue for the year reached RMB 753,307,000, with significant contributions from electricity and heat services[22][30]. - For the year ended 31 December 2022, revenue increased by 25.22% to RMB753.31 million compared to RMB601.57 million in 2021[32]. - Profit from operations decreased by 40.97% to RMB119.56 million, down from RMB202.54 million in the previous year[32]. - Net profit attributable to equity shareholders decreased by 49.98% to RMB51.93 million, compared to RMB103.83 million in 2021[32]. - Basic earnings per share fell by 50.00% to RMB0.113 from RMB0.226 in the prior year[32]. - The Group's operating profit for the year was RMB119,561,000, a decrease of RMB82,977,000 or 40.97% from RMB202,538,000 in 2021[111]. - Income tax expenses decreased by RMB25,751,000 or 51.09% to RMB24,648,000, mainly due to a decrease in profit from operations[114]. - Net profit attributable to equity shareholders for the year was RMB51,932,000, down 50.00% from RMB103,825,000 in 2021, resulting in basic and diluted earnings per share of RMB0.113[115]. Revenue and Sales - Revenue from volume tariff increased by 109.57% to RMB395.68 million from RMB188.80 million last year[45]. - Heat sales volume decreased by 18.25% to 142,073 tons compared to 173,791 tons in 2021, while revenue from heat sales increased by 6.00% to RMB56.87 million[49]. - The average selling price of heat (inclusive of VAT) rose by 29.67% to approximately RMB436.31/ton from RMB336.48/ton in 2021[87]. - The Group's revenue from photovoltaic power generation was RMB147,400, up from RMB137,500 in 2021[85]. - For the year ended December 31, 2022, the Group's revenue amounted to RMB753,307,000, representing an increase of RMB151,734,000 or 25.22% compared to RMB601,573,000 in 2021[102]. Assets and Liabilities - The net asset value per share was RMB 1.62, with a gearing ratio of 51.03%[24]. - Total assets decreased by 4.23% to RMB1,779.71 million from RMB1,858.35 million[34]. - Total debts as of 31 December 2022 were RMB959,187,000, a decrease of RMB59,760,000 from RMB1,018,947,000 in 2021[128]. - The Group's gearing ratio improved to 53.87% as of 31 December 2022, down from 56.74% in 2021[135]. - As of 31 December 2022, the Group's cash and cash equivalents amounted to RMB89,431,000, an increase from RMB76,087,000 in 2021[121]. Operational Highlights - The Group's natural gas production volume increased by 53.14% to 586,869.83 MWh, up from 383,230.24 MWh in 2021[45]. - Total natural gas consumption increased by 37.53% to 141,333,300 m³ from 102,768,108 m³ in 2021[61]. - The overall power generation volume increased by 53.14% to 586,869.83 MWh in 2022, up from 383,230.24 MWh in 2021[61]. - The installed capacity of photovoltaic generating units increased to 1,072 kW from 731 kW in 2021[81]. Cost Management - Operating expenses for the year increased by RMB234,711,000 or 58.82% to RMB633,746,000, primarily due to rising fuel costs associated with increased electricity generation[110]. - Fuel costs for the year amounted to RMB469,318,000, an increase of 105.52% compared to RMB228,361,000 in 2021, accounting for 103.74% of related revenue[100]. - Average unit fuel cost for power generation increased to approximately RMB725.84/MWh, up 43.91% from RMB504.36/MWh in 2021[96]. - The average unit fuel cost of heating rose to approximately RMB291.74/ton, representing an increase of 44.54% from RMB201.80/ton in 2021[96]. Dividends and Shareholder Returns - The proposed final dividend for 2022 is HK$0.056 per share, reflecting a commitment to shareholder returns[28]. - The proposed final dividend is HK$0.026 per share, a decrease of 53.57% from HK$0.056 per share in the previous year[43]. Governance and Management - The company emphasizes the importance of governance and compliance, as evidenced by the roles of independent non-executive directors in overseeing operations[167][169]. - The management team is well-versed in both local and international markets, enhancing the company's strategic decision-making capabilities[163][164]. - The company is committed to maintaining high standards of corporate governance and transparency in its operations[173]. - The Group aims to maintain good relationships with stakeholders, including employees, customers, and suppliers, to support long-term goals[195]. Strategic Initiatives - The company aims to enhance its market position through strategic expansions and new technology developments in the energy sector[21]. - The Group plans to strengthen cost management and explore new business models in response to challenges in 2023[52]. - The government of PRC's commitment to carbon neutrality presents significant opportunities for the Group to transform into an integrated energy supplier[55]. - The Group aims to diversify its energy business structure and enhance long-term growth potential and shareholder value[156]. Compliance and Risk Management - The Group focuses on risk management to address uncertainties that may affect financial conditions or growth prospects[197]. - The Group's operational compliance includes adherence to the Electric Power Law of the PRC and other relevant regulations[189]. - There were no material breaches of applicable laws and regulations that significantly impacted the Group's business and operations during the year[194].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 PPUUXXIINNGG EENNEERRGGYY LLIIMMIITTEEDD 普普 星星 能能 量量 有有 限限 公公司司 （於開曼群島註冊成立的有限公司） 90 （股份代號： ） 截至二零二二年十二月三十一日止年度之 全年業績公告 財務摘要 截至十二月三十一日止年度 二零二二年 二零二一年 人民幣千元 人民幣千元 變動 753,307 601,573 +25.22% 收益 119,561 202,538 –40.97% 經營溢利 51,932 103,825 –49.98% 本公司權益股東應佔溢利淨額 0.113 0.226 –50.00% 每股基本盈利 人民幣 元 人民幣 元 每股股息 0% －中期 無 無 0.026 0.056 –53.57% －擬派末期 港元 港元 ...

Financial Performance - Revenue for the six months ended June 30, 2022, was RMB 343,203,000, representing a 23.27% increase from RMB 278,405,000 in 2021[17]. - Profit from operations decreased by 36.26% to RMB 70,657,000 compared to RMB 110,849,000 in the previous year[17]. - Profit attributable to equity shareholders of the Company fell by 45.77% to RMB 31,748,000 from RMB 58,548,000 in 2021[17]. - Basic earnings per share decreased by 46.09% to RMB 0.069 from RMB 0.128 in the prior year[17]. - Total comprehensive income for the period was RMB 27,603,000, a decrease of 53.0% from RMB 58,725,000 in 2021[44]. - The company reported operating expenses of RMB 199,684,000, significantly higher than RMB 89,429,000 in the same period last year[37]. - The profit attributable to ordinary equity shareholders for the six months ended June 30, 2022, was RMB 31,748,000, a decrease of 46% compared to RMB 58,548,000 for the same period in 2021[121]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 1,845,404,000, a decrease of 0.70% from RMB 1,858,347,000 at the end of 2021[17]. - Current liabilities increased to RMB 484,510 from RMB 565,303, showing a reduction of approximately 14.3%[49]. - Net current liabilities improved to RMB (220,185) from RMB (336,610), indicating a positive change of about 34.6%[49]. - Interest-bearing borrowings rose to RMB 501,000 from RMB 431,000, marking an increase of approximately 16.2%[52]. - As of June 30, 2022, trade receivables amounted to RMB 47,325,000, down 48% from RMB 90,859,000 as of December 31, 2021[123]. - The Group's total receivables decreased to RMB 63,385,000 as of June 30, 2022, from RMB 93,755,000 as of December 31, 2021[123]. Cash Flow and Investments - For the six months ended June 30, 2022, net cash generated from operating activities was RMB 71,986,000, a decrease of 27% from RMB 98,697,000 in the same period of 2021[68]. - Cash flows used in investing activities were RMB 4,233,000, a decrease from RMB 11,905,000 in the same period of 2021, indicating reduced investment spending[68]. - The company paid interest of RMB 14,409,000 during the period, compared to RMB 26,434,000 in the previous year, indicating a reduction in financing costs[68]. - The Group acquired items of plant and machinery with a cost of RMB 741,000 during the six months ended June 30, 2022, a significant decrease from RMB 8,950,000 for the same period in 2021[121]. Revenue Breakdown - Revenue from electricity volume tariff increased to RMB 163,573,000, up from RMB 74,241,000, representing a growth of 120%[1]. - Capacity tariff revenue decreased to RMB 150,297,000 from RMB 178,925,000, a decline of 16%[1]. - Total revenue from heat sales reached RMB 29,168,000, compared to RMB 24,482,000, marking an increase of 19%[1]. - Revenue from operation and maintenance services fell to RMB 165,000 from RMB 757,000, a decrease of 78%[1]. Dividends and Shareholder Returns - The company did not declare any interim dividend for the period[17]. - A total dividend of HK$25,681,600 (equivalent to RMB 21,895,000) was declared and paid on July 7, 2022[162]. - The company declared dividends of RMB 21,895,000 for the previous year, which is a significant cash outflow[68]. Compliance and Reporting - The company continues to comply with International Accounting Standard 34 in preparing its interim financial report[31]. - The interim financial report is unaudited but has been reviewed by KPMG, ensuring compliance with relevant standards[79]. - The Group has not applied any new accounting standards that are not yet effective for the current accounting period, and recent amendments to IFRSs have not materially affected its financial reporting[82]. Operational Highlights - The Group's principal activities include the development, operation, and management of power plants, generating revenue from volume tariff, capacity tariff, heat sales, and operation and maintenance services[82]. - The Group's natural gas production volume increased by 53.31% to 236,844 MWh compared to 154,489 MWh in the same period last year[186]. - The consumption of natural gas for electricity generation rose by 45.99% to 52,123,375 m³ from 35,703,423 m³ in the corresponding period of last year[186]. - The Group's heat sales volume decreased by 13.81% to 72,362 tons compared to 83,954 tons in the same period last year[190].

Financial Performance - For the year ended 31 December 2021, revenue increased by 3.68% to RMB601.57 million compared to RMB580.24 million in 2020[25]. - Profit attributable to equity shareholders decreased by 16.40% to RMB103.83 million, with earnings per share at RMB0.226, down 16.61% from RMB0.271[33]. - The total equity attributable to equity shareholders increased by 10.39% to RMB718.87 million, with net asset value per share rising by 10.56% to RMB1.57[33]. - The proposed final dividend is HK$0.056 per share, representing a decrease of 44% from HK$0.10 per share in the previous year[33]. - Revenue for the year ended December 31, 2021, amounted to RMB601,573,000, representing an increase of 3.68% compared to RMB580,240,000 in 2020[88]. - Profit from operations increased by 5.75% to RMB202,538,000 for the year ended December 31, 2021, compared to RMB191,533,000 in 2020[90]. - The Group's income tax expenses for the year amounted to RMB50,399,000, reflecting an increase of RMB2,721,000 or 5.71% from RMB47,678,000 in 2020[97][99]. - Profit attributable to equity shareholders decreased to RMB103,825,000, with basic and diluted earnings per share at RMB0.226, a decline of 16.61% from RMB0.271 in 2020[102][106]. Operational Highlights - The production volume by natural gas decreased slightly by 0.48% to 383,230.2 MWh compared to 385,094.6 MWh in the previous year[34]. - Volume tariff revenue increased by 0.78% to RMB188.80 million from RMB187.34 million last year[34]. - The heat sales volume increased by 44.23% to 173,791 tons compared to 120,494 tons in the previous year, with revenue from heat sales rising by 53.07% to RMB 53.65 million from RMB 35.05 million[39]. - The total consumption of natural gas increased by 6.58% to 102,768,108 m³ from 96,420,405 m³ in 2020[51]. - The average selling price of heat (inclusive of VAT) increased by 6.17% to approximately RMB336.48/ton compared to RMB316.92/ton in 2020[72]. - The marginal contribution from heat sales was RMB14,444,000, with a marginal contribution rate of 26.92%, up from 15.94% in 2020[74]. Financial Position - As of December 31, 2021, the number of shares in issue was 458,600,000 ordinary shares[10]. - The market capitalization was HK$376.05 million, with a closing price of HK$0.82 per share[10]. - Total assets decreased by 4.06% to RMB1,858.35 million from RMB1,937.02 million in 2020[25]. - The Group's total debts as of 31 December 2021 were RMB1,018,947,000, a decrease from RMB1,181,844,000 in 2020[112][114]. - The current ratio as of 31 December 2021 was 0.40, down from 0.53 in 2020, primarily due to a significant increase in current liabilities[105]. - The Group had unused credit facilities of RMB309 million as of 31 December 2021, compared to RMB196 million in 2020[110][113]. Governance and Management - KPMG serves as the auditor, ensuring compliance with financial reporting standards[7]. - The company has a diverse board of directors with extensive experience in finance, management, and economics, enhancing its strategic decision-making capabilities[147]. - The management team is well-equipped to navigate the complexities of the financial landscape, leveraging their extensive backgrounds in various sectors[154]. - The Group's principal activity is investment holding, with subsidiaries primarily engaged in the development, operation, and management of natural gas-fueled power plants in the PRC[162]. Market and Regulatory Environment - The Group anticipates challenges in 2022 due to the full implementation of the electricity spot market and capacity tariff cuts, impacting profitability[44]. - The PRC government's commitment to carbon neutrality and the development of new energy presents significant opportunities for the company to transform into an integrated energy supplier[45]. - The reform of the national electricity system in Zhejiang province since 2020 has created opportunities for the Group to expand and diversify its customer base, despite potential complexities in business operations[192]. - In September 2021, the PRC government announced a reduction in incentives effective from January 1, 2022, which may negatively impact the Group's revenue and profit[193]. Future Outlook - The company plans to optimize its natural gas power generation methods and actively participate in electricity spot trading to mitigate the impact of policy changes[28]. - The Group expects to commence construction of main lines from Anji Power Plant to Tangpu Industrial Park and Kangshan Industrial Park in 2022, with completion planned for 2023[132]. - The Group aims to enhance its long-term growth potential and shareholder value by diversifying its energy business[133]. - Funding adequacy is increasingly important for the Group's transformation into an integrated energy supplier, influenced by various market factors[197].

Financial Performance - For the six months ended June 30, 2021, revenue was RMB 278,405,000, representing a 5.24% increase compared to RMB 264,535,000 in the same period of 2020[10]. - Profit from operations for the same period was RMB 110,849,000, an increase of 8.11% from RMB 102,529,000 in 2020[10]. - The profit attributable to equity shareholders was RMB 58,548,000, showing a slight increase of 0.06% compared to RMB 58,510,000 in 2020[10]. - Total revenue for the six months ended June 30, 2021, was RMB 278,405,000, compared to RMB 264,535,000 for the same period in 2020, representing an increase of approximately 5.4%[32]. - Profit for the period was RMB 58,515,000, slightly up from RMB 58,510,000 in the previous year, indicating a stable performance[36]. - Total comprehensive income for the period increased to RMB 58,725,000 from RMB 52,962,000 year-on-year[41]. - Total comprehensive income for the six months ended June 30, 2021, was RMB 58,758,000, compared to RMB 58,510,000 for the same period in 2020, indicating a slight increase of 0.4%[52]. - Total operating expenses for the six months ended June 30, 2021, were RMB 89,429,000, compared to RMB 83,077,000 in 2020, marking an increase of approximately 7.5%[32]. - Net finance costs for the period were RMB 27,795,000, up from RMB 19,962,000 in the previous year, indicating a rise of approximately 39.5%[32]. - The Group received unconditional government grants amounting to RMB 3,072,000 for the six months ended June 30, 2021, compared to RMB 785,000 in the same period of 2020[142]. Assets and Liabilities - As of June 30, 2021, total assets amounted to RMB 1,874,682,000, a decrease of 3.22% from RMB 1,937,023,000 at the end of 2020[10]. - Non-current assets decreased to RMB 1,658,599,000 from RMB 1,693,926,000[42]. - Current assets decreased to RMB 1,663,842,000 from RMB 1,697,480,000[42]. - The company reported a total of RMB 483,393,000 in current liabilities, up from RMB 453,781,000[42]. - The company’s total assets less current liabilities decreased to RMB 1,391,289,000 from RMB 1,483,242,000[42]. - As of June 30, 2021, the Group's current liabilities exceeded its current assets by RMB 272,553,000[79]. - The company’s retained profits as of June 30, 2021, were RMB 288,362,000, compared to RMB 229,814,000 at the end of 2020, reflecting an increase of approximately 25.5%[52]. - The company reported a net cash used in investing activities of RMB 11,905,000 for the six months ended June 30, 2021, compared to RMB 5,657,000 in the same period of 2020, indicating an increase in investment activity[62]. Equity and Dividends - Total equity attributable to equity shareholders was RMB 672,085,000, reflecting a 3.21% increase from RMB 651,200,000 in 2020[10]. - Basic earnings per share for the period was RMB 0.128, unchanged from the previous year[10]. - The company has not declared any interim dividends for the period[10]. - Dividends paid to equity shareholders for the period amounted to RMB 37,873,000, significantly higher than RMB 16,537,000 paid in the previous year, reflecting a year-over-year increase of approximately 129%[63]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2021, consistent with the previous year[196]. Financial Stability - The gearing ratio decreased to 60.05% from 61.72% in the previous year, indicating improved financial stability[10]. - The directors believe that the Group will generate sufficient cash flows to meet its liabilities over the next twelve months[79]. - The interim financial report has been prepared in accordance with International Accounting Standard (IAS) 34, ensuring compliance with relevant financial reporting standards[72]. - The interim financial report is unaudited but has been reviewed by KPMG, ensuring a level of assurance on the financial information presented[85]. Operational Highlights - The company completed the acquisition of 100% of the equity interests in Quzhou Puxing Gas Turbine Thermal Power Co., Ltd. in September 2020, which has been accounted for as a business combination under common control[31]. - The company continues to focus on operational efficiency despite rising costs in fuel consumption and administrative expenses[32]. - Future outlook includes potential market expansion and further investment in new technologies, although specific figures were not disclosed in the report[31]. - The Group's principal activities include the development, operation, and management of power plants[71]. Compliance and Standards - The comparative figures have been restated in accordance with relevant accounting policies, ensuring compliance with International Accounting Standard 34[31]. - The Group has early adopted the amendment to IFRS 16, extending the time limit for COVID-19-related rent concessions to June 30, 2022[89]. - The Group has not applied any new standards or interpretations that are not yet effective for the current accounting period, aside from the amendment to IFRS 16[89]. - The amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4, and IFRS 16 related to interest rate benchmark reform do not impact the interim financial report[90].

管星能量有限公司 PÜXING ENERGYLIMITED (Formerly known as "Puxing Clean Energy Limited " 前稱「普星演能有限公司」） (Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司) Stock Code 股份代號：00090 2020 Annual Report . . 1984 . : CONTENTS | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-------|-----------------------------------------------------------------------|-------|-------|----------|------------------|----------------------------------------------------------------------------------------------- ...

Financial Performance - For the six months ended June 30, 2020, revenue increased by 35.22% to RMB 186,118,000 compared to RMB 137,640,000 in the same period of 2019[17] - Profit from operations for the same period was RMB 56,039,000, reflecting a 2.18% increase from RMB 54,841,000 in 2019[17] - Profit attributable to equity shareholders rose by 6.93% to RMB 30,439,000, up from RMB 28,465,000 in 2019[17] - Basic earnings per share increased by 6.45% to RMB 0.066 compared to RMB 0.062 in the previous year[17] - Total comprehensive income for the period was RMB 24,891,000, down from RMB 26,059,000 in the previous year, reflecting a decrease of 4.5%[39] - The company reported a total comprehensive income of RMB 24,891,000 for the six months ended June 30, 2020, compared to a profit of RMB 30,439,000 in the previous period[54] - For the six months ended June 30, 2020, the profit attributable to ordinary equity shareholders was RMB 30,439,000, an increase of 6.9% compared to RMB 28,465,000 for the same period in 2019[107] Assets and Liabilities - Total assets as of June 30, 2020, were RMB 1,234,800,000, representing a 5.48% increase from RMB 1,170,621,000 at the end of 2019[17] - Current liabilities increased to RMB 192,457 from RMB 107,716, representing an increase of about 78.5%[43] - Net assets as of June 30, 2020, were RMB 585,017, up from RMB 576,663 at the end of 2019, indicating a growth of approximately 1.9%[43] - The Group's trade and bills receivables totaled RMB 85,380,000 as of June 30, 2020, significantly higher than RMB 41,047,000 at the end of 2019, representing a growth of 108%[114] - The Group's unsecured loans from related parties increased to RMB 302,466,000 as of June 30, 2020, compared to RMB 234,431,000 at the end of 2019, marking a rise of 29%[120] Cash Flow and Financing - The net cash generated from operating activities for the six months ended June 30, 2020, was RMB 37,190,000, down from RMB 64,208,000 in the same period of 2019, representing a decline of approximately 42.1%[58] - The company declared and paid dividends of RMB 16,537,000 during the reporting period, which is a significant cash outflow[58] - The Group's current liabilities exceeded its current assets by RMB 114,000 as of June 30, 2020, indicating potential liquidity concerns[68] - The unused credit facilities available to the Group amounted to RMB 324 million as of June 30, 2020, which may provide financial support for ongoing operations[68] Revenue Breakdown - Revenue consists of volume tariff revenue, capacity tariff revenue, and revenue from sales of heat[82] - Revenue from electricity volume tariff increased to RMB 61,193,000, up from RMB 16,037,000, representing a growth of 282% year-over-year[87] - Capacity tariff revenue reached RMB 109,721,000, slightly up from RMB 108,302,000, indicating a growth of 1.3%[87] - Revenue from heat sales amounted to RMB 170,914,000, compared to RMB 124,339,000, reflecting a significant increase of 37.4%[87] Operational Highlights - The company operates four power plants, contributing to a single reportable segment for financial reporting purposes[89] - The Group's total equity installed capacity as of June 30, 2020, was 457.58 MW, with 100% equity interest across all power plants[178] - The Group's natural gas production volume was 120,058 MWh for the six months ended June 30, 2020, an increase of 310.20% compared to the same period last year[184] Cost and Expenses - The company reported operating expenses of RMB 128,079,000, up from RMB 104,000,000 in the previous year, indicating a rise of 23.2%[33] - Fuel costs amounted to RMB 74,080,000 for the six months ended June 30, 2020, representing an increase of 155.85% compared to RMB 28,954,000 in the same period of 2019[191] - The average unit fuel cost for power generation decreased to approximately RMB 523.96/MWh, down 12.42% from RMB 598.27/MWh in the corresponding period of last year[191] Corporate Developments - The company changed its name from "Puxing Clean Energy Limited" to "Puxing Energy Limited" effective June 5, 2020, as part of its rebranding strategy[62] - The board of directors approved the interim report on August 28, 2020, indicating ongoing governance and oversight[46] - The Group expects to generate sufficient cash flow to meet its liabilities due within the next twelve months[69]