Financial Performance - For the year ended December 31, 2023, the company's revenue was HKD 948.51 million, an increase of 36.5% compared to HKD 694.85 million in 2022[16] - The gross profit for the year was HKD 89.18 million, a decrease of 4.8% from HKD 93.62 million in the previous year[16] - Operating profit significantly dropped to HKD 2.45 million from HKD 55.36 million in 2022, reflecting a decline of 95.6%[16] - The company reported a loss before tax of HKD 29.25 million, compared to a profit of HKD 3.43 million in the prior year[16] - The net loss attributable to shareholders for the year was HKD 33.07 million, compared to a profit of HKD 1.67 million in 2022[16] - The total comprehensive income for the year was HKD 26.05 million, a recovery from a loss of HKD 157.97 million in the previous year[18] - Basic and diluted earnings per share for 2023 were HKD 0.06, a substantial increase from a loss of HKD 0.009 in 2022[27] - The group reported a significant decrease in EBIT and EBITDA, with EBIT at approximately HKD 2.5 million (down 95.6%) and EBITDA at approximately HKD 57.7 million (down 48.6%) due to increased operating and administrative expenses[123] Revenue Sources - The company reported revenue from the sale of oil and petrochemical products of HKD 797,703,000 in 2023, up from HKD 543,625,000 in 2022, reflecting a growth of approximately 46.8%[35] - Revenue from storage and warehouse services, along with rental income from gas stations, totaled HKD 111,591,000 in 2023, compared to HKD 119,183,000 in 2022, showing a decline of about 6.3%[35] - Trade business revenue from oil and petrochemical sales reached approximately $797.7 million, accounting for 84.1% of total revenue, a 46.7% increase from $543.6 million in 2022[142] Assets and Liabilities - Total assets decreased slightly from HKD 1,976,729,000 in 2022 to HKD 1,957,023,000 in 2023, while total liabilities also decreased from HKD 769,703,000 to HKD 723,946,000[45] - Non-current assets decreased from HKD 1,419,906,000 in 2022 to HKD 1,307,383,000 in 2023, primarily due to reductions in property, plant, and equipment[29] - The total assets of the reportable segments decreased to 932,613,000 HKD in 2023 from 1,296,315,000 HKD in 2022, a decline of approximately 28.1%[64] - The total liabilities of the reportable segments also decreased to 636,745,000 HKD in 2023 from 821,289,000 HKD in 2022, representing a reduction of about 22.5%[64] Cash Flow and Liquidity - Cash and bank balances increased significantly from HKD 162,297,000 in 2022 to HKD 374,862,000 in 2023, indicating improved liquidity[29] - The total cash and bank balance as of December 31, 2023, was approximately $374.9 million, up from $162.3 million in 2022, primarily due to proceeds from the sale of limited partnership interests[152] - The company’s net current assets rose from HKD 235,290,000 in 2022 to HKD 376,176,000 in 2023, reflecting a positive trend in working capital management[29] Investments and Future Plans - There were no significant investments or capital asset acquisitions planned for the future as of the reporting date[5] - The company plans to continue expanding its operations in the oil and petrochemical sector, focusing on enhancing storage and logistics capabilities[34] - The company is focusing on expanding its customer base to gas station end-users to enhance unit profit through major fuel supply agreements[138] - The group is exploring the development of liquefied natural gas storage tanks and related facilities on approximately 150,000 square meters of vacant land at the Dongzhou Petrochemical Depot[134] Corporate Governance and Compliance - The company has complied with the corporate governance code throughout the year, with a minor exception regarding attendance at the annual general meeting[10] - The financial statements were prepared in accordance with all applicable Hong Kong Financial Reporting Standards[20] - The group regularly reviews its corporate governance practices to ensure compliance with the corporate governance code[178] Employee and Operational Statistics - As of December 31, 2023, the group had approximately 174 employees, an increase from 172 employees in 2022, with a focus on providing reasonable benefits through social insurance and employee welfare[174] - The number of sales contracts established rose dramatically to 824 in 2023 from 58 in 2022, marking an increase of 1,320.7%[115] - The number of trucks receiving goods rose significantly by 60.1%, reaching 66,470 in 2023 compared to 41,512 in 2022[91] Market Position and Partnerships - The company maintains long-term partnerships with major energy firms such as CNOOC, Sinopec, and Sinochem, enhancing its market position in oil and petrochemical trading in China[92] - The group aims to enhance cooperation with major state-owned enterprises in trade and gas station operations, targeting a distribution volume of 250,000 to 300,000 tons of gasoline, diesel, and fuel oil[119]

Financial Performance - The Group's overall revenue for the first half of 2023 was HKD 447.37 million, a 20.3% increase from HKD 371.86 million in the same period last year[87]. - Revenue from oil and petrochemical product sales reached HKD 372.29 million, representing an increase of 26.6% from HKD 294.10 million in the previous year[87]. - The gross profit margin decreased to 10.1%, down 3.0 percentage points from the previous year, primarily due to increased inventory costs from trading activities[113][114]. - EBIT for the first half of 2023 was approximately HKD 13.3 million, a decrease of 13.9% compared to the same period last year[117]. - The total comprehensive income for the six months ended June 30, 2023, was HKD 51,367,000, compared to a loss of HKD 22,501,000 in the same period of 2022, indicating a turnaround in financial performance[160]. - For the six months ended June 30, 2023, the company reported a loss of HKD 3,005,000, a significant improvement compared to a loss of HKD 12,569,000 in the same period of 2022, representing a reduction of approximately 76%[179]. Capital Expenditures and Investments - As of June 30, 2023, the Group had capital commitments of approximately $75 million for a limited partnership and $4 million for the development of a hydrogen refueling station in Hong Kong[6]. - The Group made capital expenditure of approximately $36 million in July 2023 for a limited partnership in an investment fund[7]. - The Group's total capital contribution into Templewater was approximately HK$81 million (equivalent to approximately US$10.4 million) with a maximum capital commitment of HK$156 million (equivalent to approximately US$20 million)[124]. - During the six months ended June 30, 2023, the Group invested approximately HK$3 million into Templewater, with net fair value gains of HK$4.6 million recognized in profit or loss for the period[124]. Financial Position and Assets - The Group's total assets as of June 30, 2023, were approximately HK$2,012.5 million, up from HK$1,976.7 million at the end of 2022, marking a growth of 1.8%[142]. - The Group's net assets as of June 30, 2023, were HK$1,258.6 million, an increase from HK$1,207.0 million as of December 31, 2022[134]. - The total equity attributable to equity shareholders of the Company was HK$1,238.4 million as of June 30, 2023, compared to HK$1,187.0 million as of December 31, 2022[134]. - The fair value of the financial assets as of June 30, 2023, was HK$131.6 million, representing 6.5% of the Group's total assets and 15.8% of the aggregate fair value of the Group's investment portfolio[124]. Operational Performance - The average leaseout rate for oil and petrochemical tanks was 95.7%, a slight decrease of 0.8 percentage points compared to the same period last year[66]. - The number of sale contracts entered increased to 252, representing a significant rise of 869.2%[68]. - Sales volume of oil and petrochemical products reached 69,000 metric tons, an increase of 7.8% from 64,000 metric tons in the previous year[68]. - The number of domestic vessels visited increased by 32.9%, while the number of trucks served to pick up cargoes rose by 50.7%[66]. - Terminal and port jetty throughput improved by 39.8% and 32.5% respectively over the same period last year[66]. Strategic Initiatives - The Group is actively seeking local government approval for the second phase development of Dongzhou Petrochemical Terminal, which includes constructing LNG storage tanks[59]. - The Group aims to enhance unit profit from the trading business by expanding its customer base and signing key fuel supply agreements[61]. - The Group's strategy includes diversifying its business to increase revenue sources while maintaining traditional operations[64]. - The Group is expanding its customer base to include gas station end-users, which is expected to enhance operational efficiency and reduce procurement costs through centralized purchasing[69]. - The Group is exploring new cooperation models for gas station operations with major oil companies to achieve more stable revenue[89]. Financial Management - Direct costs and operating expenses increased by 24.4% to approximately HKD 402.2 million, with inventory costs accounting for 90.6% of total direct costs[94]. - Finance costs decreased to approximately HKD 15.9 million from HKD 27.5 million, attributed to a lower average bank borrowing rate[96]. - The Group's finance costs decreased by 42.2% to approximately HKD 15.9 million due to refinancing efforts[110][117]. - The current ratio improved to 1.94 as of June 30, 2023, compared to 1.73 as of December 31, 2022, due to a decrease in short-term bank loans by approximately HK$49.2 million[142]. Future Outlook - The Group expects to participate in the bidding and procurement business of state-owned enterprises, anticipating a significant increase in trading volume in the second half of the year[111]. - The Group anticipates significant growth in trade volume as it enters the supplier lists of major state-owned enterprises[89]. - The Group plans to actively pursue the approval of the second phase of the Dongzhou Petrochemical Warehouse project, aiming for breakthroughs by the end of the year[88]. - The installation of Hong Kong's first hydrogen refueling station is expected to be completed in October 2023, with operations commencing in November[90].

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佈的內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示，概不對因本公佈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。 HANS ENERGY COMPANY LIMITED 漢思能源有限公司 (於開曼群島註冊成立的有限公司) (股份代號: 00554) 截至二零二三年六月三十日止六個月 中期業績公佈 漢思能源有限公司（「本公司」）董事會（「董事」）公佈，本公司及其附屬公司（「本集團」） 截至二零二三年六月三十日止六個月之未經審核綜合中期業績如下: 綜合損益表 截至二零二三年六月三十日止六個月 – 未經審核 (以港元列示) 截至六月三十日止六個月 附註 二零二三年 二零二二年 千元 千元 收入 3 447,367 371,856 直接成本及經營費用 (402,196) (323,179) 毛利 45,171 48,677 其他收益 4 5,856 17,265 銷售及行政費用 (42,867) (56,134) 撥回貿易應收款及其他應收款之虧損撥備 500 4,500 ...

Terminal Operations - The Group operates a liquid product terminal, Dongzhou Petrochemical Terminal, with a total storage capacity of approximately 260,000 cubic meters, including 180,000 cubic meters for gasoline and diesel [12]. - The Group is in the process of developing the second phase of the terminal, which includes the construction of liquefied natural gas (LNG) storage tanks on approximately 150,000 square meters of vacant land [13]. - The terminal is strategically located in the Greater Bay Area, attracting customers for the distribution of refined oils and providing storage for hazardous materials [16]. - Revenue from the terminal storage business is generated through leasing storage tanks and handling charges for cargo movement, along with ancillary services such as tank cleaning [17]. - The average leaseout rate for oil and petrochemical tanks was 97.5% in 2022, a slight decrease of 0.3 percentage points from the previous year [23]. - Terminal throughput dropped by 20.9% to 3,295,000 metric tons in 2022, with port jetty throughput down 14.2% and loading station throughput down 32.3% [23]. - Transshipment volume for oil increased by 117.6% to 54,557 metric tons, while petrochemicals increased by 84.1% to 91,663 metric tons [23]. Trading Business Performance - The number of sale contracts entered in the trading business fell by 37.6% to 58, and sales volume of oil and petrochemical products decreased by 74.1% to 116,000 metric tons [30]. - The Group's trading business has been impacted by external factors, including consumption tax on refined oil products and high volatility in crude oil prices [30]. - The decline in trading revenue was primarily due to the consumption tax imposed by the Chinese government on certain refined oil and petrochemical products since June 2021, which increased costs and dampened customer demand [40]. Financial Performance - The Group recorded total revenue of HK$694.9 million for the year ended December 31, 2022, a significant decrease of 64.8% compared to the previous year [40]. - Revenue from the sale of oil and petrochemical products was HK$543.6 million, accounting for 78.2% of total revenue, reflecting a decrease of 69.6% year-on-year [40]. - Terminal storage business generated revenue of HK$145.6 million, representing 21.0% of total revenue, with a decrease of 13.3% compared to the previous year [40]. - Rental income from a filling station was HK$5.6 million, down 64.4% from HK$15.7 million in the previous year [40]. - Gross profit for the year was approximately $93.6 million, down 12.4% from $106.8 million in 2021, but the gross profit margin increased to 13.5%, up by 8.1 percentage points year-on-year [54][56]. - EBIT increased by 18.3% to approximately $55.4 million from $46.8 million in 2021, driven by higher other income and reduced selling and administrative expenses [54][58]. - EBITDA for the year was approximately $112.3 million, a decrease of 8.7% from $123.0 million in 2021, reflecting the overall decline in trading activities [54][58]. - The Group's total cash and bank balances as of December 31, 2022, amounted to approximately $162.3 million, an increase from $118.2 million in 2021, mainly due to cash inflow from operating activities [67]. - As of December 31, 2022, total assets were approximately $1,976.7 million, down from $2,286.7 million in 2021, with net current assets decreasing to approximately $235.3 million [68]. - The gearing ratio as of December 31, 2022, was 38.9%, a slight improvement from 40.9% in 2021, indicating a reduction in leverage [69]. - The basic and diluted earnings per share for the year was $0.01, a turnaround from a loss of $0.41 per share in 2021, indicating improving earnings [66]. Strategic Initiatives - The Group aims to expand its customer base to end customers of filling stations by signing key fuel supply agreements and providing brand management services [27]. - The Group plans to actively expand its customer base and business scale as the pandemic situation stabilizes [31]. - The Group plans to attract customers engaged in new energy products, such as biodiesel, to support its transformation into the new energy industry [44]. - In 2023, the Group aims to increase the number of franchised filling stations under the "Hans Energy" brand to expand its market share [45]. - The second phase development of the DZIT project, including LNG tank construction, is expected to make substantial progress in 2023 [46]. Corporate Governance - The company has committed to high standards of corporate governance practices in compliance with the CG Code, with the Board stating compliance throughout the year except for certain deviations [141]. - The company has adopted many new requirements under the amended CG Code, which became applicable from January 1, 2022, reflecting its commitment to corporate governance [142]. - The Group's Anti-Bribery and Corruption Policy was introduced in November 2022, covering anti-corruption activities and reporting mechanisms for suspected corruption practices [146]. - The Group's Whistleblowing Policy was also introduced in November 2022, ensuring that any convicted cases will be reported to the chairman of the Audit Committee [146]. - The Board Diversity Policy was adopted in August 2013 and is subject to annual review, with a commitment to appoint at least one female Director by December 31, 2024 [151]. - The Group has no female Director currently but is actively seeking suitable candidates to meet gender diversity targets [152]. - The Group's practices align with new corporate governance requirements, emphasizing a healthy corporate culture to achieve sustainable growth [144]. Human Resources - The Group had approximately 172 employees as of December 31, 2022, a decrease from 230 employees in 2021 [105]. - The Group has adopted share option and share award plans to incentivize eligible employees [111]. - The Group aims to provide reasonable benefits to eligible employees through social insurance policies [111]. Investments and Financial Position - The Group's significant investments include unlisted equity securities in BTHL, with a total consideration for share subscriptions amounting to HKD 1.19 billion, HKD 12.58 billion, and HKD 8 million for respective shares [78]. - Following the completion of the BTHL acquisition, Glorify held 1,555.91 BTHL shares as of December 31, 2022, representing approximately 15.56% of the entire issued share capital in BTHL [85]. - The Group recorded a fair value loss of HK$140.0 million for the year ended December 31, 2022, compared to a gain of HK$309.3 million in 2021 [90]. - The total capital contribution into Templewater by the Group was approximately HK$78 million (equivalent to approximately US$10 million) as of December 31, 2022 [92]. - The Group had a maximum capital commitment of HK$156 million (equivalent to US$20 million) in Templewater, which had total committed capital of approximately US$187 million [92]. - The Group did not invest in Templewater during the year ended December 31, 2022, compared to an investment of HK$25.0 million in 2021 [97]. Risk Factors - The ongoing impact of the Russia-Ukraine war and global inflation presents uncertainties for the Company's development in 2023 [43]. - Management is confident that the Group has adequate financial resources to meet future debt repayments and support working capital and expansion needs [75]. - The Group will pay close attention to capital and debt market conditions to ensure efficient use of financial resources [79].

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佈的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示，概不對因本公佈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。 HANS ENERGY COMPANY LIMITED 漢思能源有限公司 (於開曼群島註冊成立的有限公司) (股份代號: 00554) 截至二零二二年十二月三十一日止年度 全年業績公佈 漢思能源有限公司（「本公司」）董事會（「董事會」）公佈，本公司及其附屬公司（「本集 團」）截至二零二二年十二月三十一日止年度之綜合業績如下: 截至二零二二年十二月三十一日止年度之綜合損益表 (以港元列示） 附註 二零二二年 二零二一年 千元 千元 收入 2 694,851 1,974,767 直接成本及經營費用 (601,234) (1,867,945) 毛利 93,617 106,822 其他收益 3 55,479 26,236 銷售及行政費用 (85,672) (156,309) ...

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佈的內容概不 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 佈 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。 HANS ENERGY COMPANY LIMITED 漢思能源有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：00554） 截至二零二一年十二月三十一日止年度之 年報之補充公佈 茲提述漢思能源有限公司（「本公司」，連 同 其 附 屬 公 司，「本集團」）於二零二二 年四月二十五日刊發的截至二零二一年十二月三十一日止年度的年報（「二 零 二一年年報」）。本 公 司 謹 此 根 據 上 市 規 則 附 錄 十 六 第32(4A)段，提 供 以 下 本 集 團 重 要 投 資 的 更 多 資 料。 除 另 有 所 指 外，本 公 佈 所 用 詞 彙 與 二 零 二 一 年 年 報 所 界 定 者 具 相 同 涵 義。 重要投資 本 集 團 的 重 要 投 資 包 括 非 上 市 股 本 證 券 及 金 融 資 產 ...

Business Operations - The Group operates a liquid product terminal, Dongzhou Petrochemical Terminal, with a total storage capacity of approximately 260,000 cubic meters, including 180,000 cubic meters for gasoline and diesel [11]. - The Group is expanding its trading business in Hong Kong to increase its customer base and business scale, maintaining long-term relationships with major energy companies like CNOOC and Sinopec [16]. - The Group's strategy includes expanding its customer base to end customers of filling stations by prioritizing fuel supply agreements, enhancing unit profit from the trading business [18]. - The Group owns a filling station in Guangzhou with a site area of approximately 12,500 square meters, which has been leased to an independent third party for rental income [19]. - Currently, there are nine filling stations under the "Hans Energy" brand located across Guangdong Province and Guangxi Province in the PRC [19]. - The Group is seeking various development opportunities to diversify its business and increase revenue sources, continuing its established business diversification strategies [20]. - The Group submitted an application for the second phase development of Dongzhou Petrochemical Terminal, utilizing approximately 150,000 square meters of vacant land for LNG storage facilities [13]. - The Group aims to maximize shareholder value by utilizing spare capacity from jetties and vacant land in its terminal storage business [13]. - The Group's terminal storage business is focused on generating more revenue through diversification and maximizing the use of existing resources [13]. - The Group actively expands its share of the refined oil retail market through various means, including leasing and brand management services [19]. Financial Performance - The Group recorded total revenue of $371.9 million for the six months ended June 30, 2022, a significant decrease of 77.6% compared to the same period last year [38]. - Revenue from the sale of oil and petrochemical products was $294.1 million, accounting for 79.1% of total revenue, with a decrease of 81.1% on a half-year basis [38]. - Terminal storage revenue was $74.9 million, representing 20.1% of total revenue, down 20.5% compared to the previous year [38]. - EBITDA increased by 26.5% compared to the same period last year, indicating effective cost reduction and efficiency improvement measures [45]. - The gross profit ratio improved by 9.3 percentage points over the same period last year, reflecting better operational efficiency [45]. - The Group plans to focus on reviving the terminal storage business and continue cost reduction efforts in the second half of 2022 [46]. - The decrease in trading revenue was attributed to the consumption tax on refined oil products and the impact of COVID-19 lockdowns in China [38]. - The Group's revenue for the six months ended 30 June 2022 was $371.9 million, a decrease of 77.6% compared to $1,659.1 million in the same period of 2021 [51]. - Gross profit margin increased to 13.1%, up by 9.3 percentage points from the previous year, primarily due to a reduction in low-margin trading activities [51]. - Direct costs and operating expenses were $323.2 million, representing a decrease of 79.8% from $1,596.3 million in the prior year [54]. - EBIT for the period was $15.4 million, an increase of 420.0% compared to a loss of $4.8 million in the same period last year [58]. - Basic and diluted losses per share improved to $0.35 cents from $0.87 cents in the prior year, reflecting a 59.8% reduction in losses [61]. Cash Flow and Liquidity - As of 30 June 2022, total cash and bank balances increased to $247.5 million from $118.2 million at the end of 2021, attributed to cash inflow from reduced working capital [63]. - The Group's total assets were $2,273.8 million, slightly down from $2,286.7 million at the end of 2021, with net current assets at $236.7 million [63]. - The gearing ratio remained stable at 40.9% as of 30 June 2022, unchanged from the end of 2021 [63]. - The Group is confident in its financial resources to meet future debt repayments and support working capital and expansion needs [63]. - The cash and cash equivalents as of June 30, 2022, were $247,528,000, an increase from $63,121,000 at the end of 2021 [164]. - The net increase in cash and cash equivalents for the six months ended June 30, 2022, was HK$190,133,000, compared to a decrease of HK$1,616,000 in 2021, showing improved liquidity [104]. - Cash generated from operations for the six months ended June 30, 2022, was HK$216,256,000, compared to HK$51,914,000 in 2021, representing a significant increase [102]. - Proceeds from new bank loans amounted to HK$113,431,000 in the first half of 2022, up from HK$23,980,000 in the same period of 2021, reflecting enhanced financing activities [102]. Employee and Shareholder Information - The Group's workforce decreased to approximately 180 employees as of June 30, 2022, down from 230 employees as of December 31, 2021 [74]. - The Group did not recommend any interim dividend for the six months ended June 30, 2022, consistent with the previous year [82]. - The Group has adopted a share option scheme and share award scheme to incentivize employees based on performance [74]. - Equity-settled share-based payment expenses recognized for the six months ended June 30, 2022, amounted to $15,872,000, a decrease from $29,378,000 for the same period in 2021 [189]. - The total number of issued ordinary shares remained at 3,956,638,000 as of June 30, 2022, unchanged from December 31, 2021 [184]. Segment Reporting and Compliance - The Group's segment reporting includes three reportable segments: Terminal Storage, Trading, and Other, allowing for detailed performance assessment [111]. - The measure used for reporting segment profit is "adjusted (losses)/profits before taxation," providing a clearer view of operational performance [112]. - The Group's interim financial report is prepared in accordance with HKAS 34, ensuring compliance with relevant accounting standards [109]. - The financial information for the year ended December 31, 2021, included in the interim report does not constitute statutory annual consolidated financial statements, but is derived from them [109]. - The Group has not applied any new standards or interpretations that are not yet effective for the current accounting period, ensuring consistency in financial reporting [109].

Terminal Operations - The Group operates a liquid product terminal, Dongzhou Petrochemical Terminal, with a total storage capacity of approximately 260,000 cubic metres, including 180,000 cubic metres for gasoline and diesel products[16]. - The terminal is strategically located in the Greater Bay Area, enhancing its appeal to customers for refined oil distribution and temporary storage of hazardous goods[18]. - The terminal is fully licensed to handle a wide range of dangerous and hazardous goods, ensuring compliance with safety and environmental regulations[18]. - The terminal features 94 oil and petrochemical tanks, with specific capacities allocated for different types of products[16]. - The terminal's operational area spans approximately 516,000 square metres, providing ample space for logistics and storage[16]. - The Group's strategic location and comprehensive services position it favorably within the competitive landscape of the energy sector in South China[18]. - The average leaseout rate for oil and petrochemical tanks was 97.8%, a slight decrease of 0.7 percentage points compared to the previous year[26]. - The number of domestic vessels visited increased by 53.5% year-on-year, while the overall transshipment volume decreased by 58.7%[26]. - Terminal throughput decreased by 11.7% to 4,165,000 metric tons from 4,718,000 metric tons in the previous year[24]. - The number of trucks served to pick up cargoes decreased by 4.3% to 64,634 from 67,517 in the previous year[24]. - Transshipment volume of oil decreased significantly by 70.3% to 25,071 metric tons[24]. Financial Performance - The Group's total revenue decreased from HKD 2,481.9 million to HKD 1,972.4 million, a decline of 20.5% year-on-year[39]. - Revenue from sales of oil and petrochemical products was HKD 1,791.1 million, accounting for 90.8% of total revenue, down 22.1% compared to the previous year[40]. - Revenue from terminal, storage, and transshipment activities for liquid chemicals was HKD 168.0 million, a slight increase of 2.2% year-on-year, but a decrease of about 4.7% when excluding currency appreciation effects[39]. - Revenue from operating a filling station decreased from HKD 18.4 million to HKD 13.3 million, a decrease of 27.7% year-on-year due to leasing the station to an independent third party[40]. - The Group expects better operating results and greater profitability in the coming year due to improved overall operating profit and increased net assets from financial investments[42]. - The Group's diversification strategy has begun to yield positive results, contributing to improved financial performance[42]. - Gross profit increased by 57.3% to approximately $104.4 million, with a gross profit margin of 5.3%, up by 2.6 percentage points year-on-year[53]. - Direct costs and operating expenses decreased by 22.7% to approximately $1,867.9 million, with inventory costs from oil and petrochemical products accounting for 94.2% of total direct costs[56]. - EBIT for the year was approximately $46.8 million, an increase of 304.9% from $11.6 million in 2020, driven by net fair value gains on financial assets[57]. - EBITDA increased by 43.3% to $123.0 million, compared to $85.9 million in the previous year[57]. Strategic Initiatives - The Group actively expanded its trading business in Hong Kong to increase customer base and business scale[28]. - The Group plans to enhance its market risk resistance and profitability by leveraging market price fluctuations through centralized procurement[33]. - The Dongzhou Petrochemical project is set to enhance revenue and profitability significantly, as handling and storage charges for LNG are several times higher than those for oil and liquid chemicals[43]. - The Group's international trading business commenced in 2021, compensating for declines in domestic refined oil trading, leading to an increase in overall trading volume and gross profit[44]. - The number of franchised filling stations under the "Hans Energy" brand reached eight by the end of 2021, with plans to continue signing new franchising agreements in 2022[44]. Management and Governance - The company has been led by Mr. Dai Wei as Chairman and Executive Director since July 2002, with extensive experience in petroleum and real estate sectors[83]. - Mr. Yang Dong has served as Executive Director and CEO since July 2016, bringing rich experience in international trade of petroleum and chemical products[83]. - The company has a strong management team with members holding advanced degrees and extensive industry experience, enhancing its operational capabilities[85]. - The independent non-executive directors contribute to the company's governance, with backgrounds in finance, accounting, and corporate advisory services[85]. - The company is focused on expanding its market presence and enhancing its operational efficiency through strategic management and governance[86]. - The management team emphasizes the importance of compliance and financial integrity in its operations, ensuring robust oversight mechanisms[86]. - The company is actively involved in mergers and acquisitions, leveraging its expertise to identify growth opportunities in the market[86]. Risk Management and Compliance - The Group's risk management framework includes both top-down and bottom-up risk review processes to ensure comprehensive risk identification and mitigation[167]. - The Board is responsible for maintaining adequate risk management and internal control systems to safeguard shareholder interests[165]. - The Company has established written guidelines for employees regarding securities transactions to prevent insider trading[161]. - The internal control framework covers all material controls, including financial, operational, and compliance controls[173]. - The Group's internal control system is designed to provide reasonable assurance, minimizing risks and allowing optimal achievement of business objectives[176]. - The Board and Audit Committee reviewed the effectiveness of the internal control system and found it to be operating effectively during the year[179]. Shareholder Communication - Shareholder meetings provide opportunities for communication between shareholders and the Board, with key personnel available to address inquiries[191]. - The Company emphasizes timely and effective communication with shareholders as part of good corporate governance[193]. - The Company maintains a website to provide extensive information on business developments, financial information, and corporate governance practices[194]. - Designated senior management maintains regular dialogue with existing shareholders, potential institutional investors, and analysts to keep them informed of the Company's developments[195].

Operational Performance - The leaseout rate for oil and petrochemical products increased to 98.7% from 97.9%, representing a growth of 0.8 percentage points[19] - The total sales volume of petrol filling for the six months ended June 30, 2021, was approximately 1.8 million liters, a 37.7% increase from 1.3 million liters in the same period of 2020[36] - Terminal throughput increased by 14.2% year-on-year, reaching 3,748,000 metric tons, driven by an increase in domestic vessels and trucks served[30] - The overall transshipment volume decreased by 80.8% in the first half of the year, primarily due to certain customers planning to relocate factories and reduce production[30] - The sales volume of oil and petrochemical products increased by 6.3%, from 254,000 metric tons in 2020 to 270,000 metric tons in 2021[30] - The company actively expanded its refined oil trade business in Hong Kong, contributing to the overall sales volume increase despite challenges in the mainland market[32] Revenue and Financial Performance - The Group's total revenue increased from $1,029.3 million to $1,659.1 million, representing a 61.2% increase compared to the same period last year[42] - Revenue from trading oil and petrochemical products was $1,553.7 million, accounting for 93.6% of total revenue, while terminal, storage, and transshipment activities generated $94.2 million, a 27.0% increase year-over-year[58] - The gross profit margin increased to 3.8%, up by 1.7 percentage points from 2.1% in the previous year[59] - Loss before interest and tax (LBIT) decreased to approximately $4.8 million, a 61.0% reduction from $12.3 million in the previous year[63] - EBITDA increased to $35.8 million, up 50.8% from $23.7 million in the same period of 2020[63] - The Group's loss for the period was HKD 32,720,000, a slight improvement from a loss of HKD 36,622,000 in the previous year, representing a reduction of 10.3%[90] Assets and Liabilities - The Group's total assets were $1,969.2 million, down from $2,020.5 million at the end of 2020, while net current assets decreased to $653.7 million from $665.4 million[67] - The gearing ratio improved to 49.9% as of June 30, 2021, down from 51.2% at the end of 2020, indicating a reduction in leverage[69] - Non-current assets decreased from HK$975,709,000 as of December 31, 2020, to HK$952,591,000 as of June 30, 2021, representing a decline of approximately 2.4%[95] - Current assets decreased from HK$1,044,771,000 as of December 31, 2020, to HK$1,016,609,000 as of June 30, 2021, a reduction of about 2.7%[95] - Total creditors as of June 30, 2021, were HK$80,543,000, down from HK$127,861,000 as of December 31, 2020[184] Cash Flow and Liquidity - Net cash generated from operating activities for the six months ended June 30, 2021, was HK$50,996,000, compared to a cash used of HK$38,669,000 in 2020, indicating a significant improvement[108] - The net cash used in investing activities was HK$13,274,000 for the first half of 2021, a decrease from HK$27,719,000 in the same period of 2020[108] - The company reported a net cash used in financing activities of HK$39,338,000 for the six months ended June 30, 2021, compared to HK$50,825,000 in 2020, reflecting a reduction in financing outflows[108] - Cash and cash equivalents at June 30, 2021, were HK$286,239,000, up from HK$852,653,000 at the same time in 2020, showing a recovery in liquidity[110] Strategic Initiatives - The Group aims to increase its share of the refined oil retail market through acquisitions, leasing, and franchising strategies[20] - The Group is actively discussing the DZIT Phase II construction project, expected to initiate in the second half of the year, which will enhance storage capacity and profitability[50] - The Group's strategy includes increasing the number of branded filling stations to boost domestic refined oil trading and enhance profitability[47] - The Group aims to develop the hydrogen energy industry chain in Hong Kong, collaborating with key suppliers and local bus companies[53] Employee and Operational Statistics - As of June 30, 2021, the Group had approximately 240 employees, an increase from 230 employees as of December 31, 2020[79] - Total staff costs for the first half of 2021 were HK$59,000,000, significantly higher than HK$24,007,000 in 2020[145] Compliance and Reporting - The interim financial report has been prepared in accordance with HKAS 34, ensuring compliance with the applicable disclosure provisions[113] - The company has not applied any new standards or interpretations that are not yet effective for the current accounting period, ensuring consistency in financial reporting[116]

Business Operations - Hans Energy Company Limited operates integrated facilities for petroleum and liquid chemicals in South China, including jetties, storage tanks, and logistics services[10]. - The company provides value-added services in its own ports and storage tank farms, focusing on terminal storage, trading of oil and petrochemical products, and retail operations[11]. - The annual report indicates a strong emphasis on expanding terminal storage business and enhancing trading capabilities to capture market opportunities[10]. - Future outlook includes plans for market expansion and potential acquisitions to strengthen the company's position in the energy sector[10]. - The company aims to leverage its existing infrastructure to increase efficiency and reduce operational costs in the coming years[10]. - Hans Energy is committed to developing new technologies and products to meet evolving market demands and improve service offerings[10]. - The management discussion highlights a strategic focus on enhancing customer relationships and service quality to drive growth[10]. - The company is exploring partnerships and collaborations to enhance its service portfolio and market reach[10]. Financial Performance - In 2020, the total revenue of the Group increased significantly from $314.8 million to $2,481.9 million, representing a growth of 688.3% compared to the previous year[29]. - The trading business, acquired in December 2019, accounted for 92.6% of the Group's total revenue during the year, generating $2,299.1 million[28]. - The retail business from the filling station, which commenced operations in April 2020, contributed revenue of $18.4 million[28]. - Revenue from terminal storage and transshipment activities for liquid chemicals products was $164.4 million, an increase of 8.1% year-on-year[28]. - The Group's revenue from continuing operations was approximately $2,481.9 million, representing an increase of 688.3% compared to 2019[42]. - Revenue from trading of oil and petrochemical products was $2,299.1 million, accounting for 92.6% of the Group's total revenue[42]. - The gross profit from continuing operations was approximately $66.4 million, an increase of 58.6% over the last year[42]. - The gross profit margin was 2.7%, reduced by 10.6 percentage points on a yearly basis[42]. - The Group's efforts in expanding procurement and sales channels helped mitigate the impact of COVID-19, resulting in only a slight decrease in sales volumes[23]. - The Group expects continuous growth across all business segments in 2021, aiming to provide better returns to shareholders[32]. Operational Metrics - The average leaseout rate for the terminal reached 98.5%, an increase of 7.3 percentage points compared to the previous year[20]. - Terminal throughput increased to 4,718,000 metric tons, representing a growth of 31.4% from 3,591,000 metric tons in the previous year[18]. - The number of foreign vessels visiting the terminal rose to 180, a 13.9% increase from 158 in the previous year[18]. - The number of trucks served for cargo pickup increased by 14.2% to 67,517 from 59,113 in the previous year[18]. - Transshipment volume for oil increased by 30.0% to 84,470 metric tons from 64,971 metric tons in the previous year[18]. - The terminal's port jetty throughput grew by 22.4% to 2,551,000 metric tons from 2,084,000 metric tons in the previous year[18]. - The number of drums filled increased by 22.2% to 16,250 from 13,297 in the previous year[18]. - The number of sales contracts entered by Shanghai Di You reached 118 in 2020, with total sales volume of approximately 472,000 metric tons, reflecting a significant increase of 1,687.9% compared to 2019[22]. - Cumulative sales volume at the new filling station reached 3.9 million liters since its operation began in April 2020[25]. Corporate Governance - The Company has complied with the Corporate Governance Code throughout the year, except for a deviation from Code Provision E.1.2[100]. - The Board consists of seven members, including four executive directors and three independent non-executive directors as of December 31, 2020[105]. - The Company has established formal procedures for the appointment and succession planning of directors[108]. - All independent non-executive directors (INEDs) have confirmed their independence according to the guidelines set out in Rule 3.13 of the Listing Rules[107]. - The Board is responsible for major decisions, including approval and monitoring of policy matters, overall strategies, and financial information[103]. - The day-to-day management of the Company is delegated to the chief executive and senior management, with periodic reviews of delegated functions[105]. - The Company regularly reviews its corporate governance practices to ensure compliance with the CG Code[102]. - The Board has full access to relevant information and the advice of the Company Secretary to ensure compliance with applicable rules and regulations[103]. - The INEDs contribute to the effective direction of the Company through active participation in Board meetings and serving on Board committees[107]. - The Company has a balanced composition of skills and experience on the Board necessary for independent decision-making[105]. Risk Management - The Group's risk management framework includes both top-down and bottom-up processes for comprehensive risk identification and mitigation[168]. - The internal control framework covers all material controls, including financial, operational, and compliance controls[174]. - The Board and Audit Committee reviewed the effectiveness of the internal control system, concluding it operated effectively during the year[175]. - The principal risks and uncertainties facing the Group's business are discussed in the Management Discussion and Analysis section of the annual report[197]. Shareholder Communication - The Company emphasizes timely and effective communication with shareholders as part of good corporate governance[191]. - Designated senior management maintains regular dialogue with existing shareholders and potential institutional investors[191]. - The Company provides opportunities for communication between shareholders and the Board during shareholders' meetings[189]. - Shareholders can send written enquiries to the Company, as verbal or anonymous enquiries are not normally accepted[184]. - The Company has established procedures for handling and disseminating inside information to comply with statutory disclosure requirements[187]. Financial Position - As of December 31, 2020, the Group's total cash and bank balances were approximately $353.2 million, down from $974.5 million in 2019[52]. - The Group had total assets of approximately $2,020.5 million and net current assets of approximately $665.4 million as of December 31, 2020, with a current ratio of 2.75[52]. - Outstanding bank borrowings increased to $789.8 million in 2020 from $702.5 million in 2019, while total equity rose to approximately $986.2 million[52]. - The gearing ratio slightly reduced to 51.2% in 2020 from 54.0% in 2019, indicating a decrease in leverage[52]. - The Group's distributable reserves as of December 31, 2020, amounted to approximately HK$649 million, an increase from approximately HK$602 million in 2019[200]. - The Board does not recommend the payment of a final dividend for the year ended December 31, 2020, due to cash requirements for bank loan repayment and business development[200]. - The Group's expected working capital requirements and future expansion plans will also influence dividend decisions[200]. Employee Management - As of December 31, 2020, the Group had approximately 230 employees, with 205 working for the terminals, maintaining the same total employee count as in 2019[70]. - The Group's employee remuneration is based on industry practices and individual performance, with a budget devised annually for total salary and bonus plans[70]. - The Group is required to cover social insurance for every qualified employee in the PRC, including retirement, medical, and unemployment insurance[70].