Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 1,595.3 million, a decrease of 10.4% compared to RMB 1,780.5 million in 2023[7]. - Operating loss for 2024 was RMB 48.9 million, significantly improved from a loss of RMB 164.9 million in 2023[7]. - Net loss attributable to shareholders for 2024 was RMB 46.3 million, compared to a net loss of RMB 155.2 million in the previous year, reflecting a reduction of 70%[7]. - Total assets decreased to RMB 2,030.7 million in 2024 from RMB 2,177.4 million in 2023, indicating a decline of 6.7%[7]. - The gross margin for the reporting period was a loss of approximately 2.05%, an improvement from a loss of 4.02% in the previous year[33]. - The pre-tax loss for the reporting period was approximately RMB 47,727,000, significantly reduced from a pre-tax loss of RMB 165,460,000 in the previous year[33]. - As of December 31, 2024, total equity attributable to shareholders was approximately RMB 1,384,347,000, down from RMB 1,430,673,000 as of December 31, 2023[36]. - The group's cash and cash equivalents were approximately RMB 694,790,000 as of December 31, 2024, down from RMB 789,473,000 as of December 31, 2023[37]. - The asset-to-liability ratio was approximately 0.32 as of December 31, 2024, compared to 0.34 as of December 31, 2023[38]. - The total employee cost for the reporting period was approximately RMB 112,299,000, down from RMB 128,952,000 in the previous year[47]. Strategic Initiatives - The company aims to enhance its service quality and expand its market presence while focusing on safety management and governance improvements[8]. - The board plans to deepen institutional reforms and optimize governance structures to enhance operational efficiency[11]. - The company is committed to developing new user services and value-added offerings to drive profit growth[11]. - In 2025, the company will focus on innovation and practical efforts to achieve its annual targets[12]. - The management is actively promoting value-added services to existing customers while seeking new markets to enhance revenue potential[18]. - The company emphasizes compliance and risk management as part of its strategic initiatives for sustainable development[9]. - The group aims to enhance investor confidence by establishing a complete, transparent, and compliant system while maintaining shareholder returns[30]. - The board will continue to focus on the core business of pipeline gas, retaining existing markets and developing new users[30]. - The group plans to actively optimize gas source structure to reduce gas procurement costs[30]. - The company aims to enhance cash flow growth while optimizing operational costs and maximizing project returns[49]. - The company plans to focus on market expansion and user acquisition while optimizing gas source structure to reduce input costs[51]. - The company remains optimistic about the natural gas industry in China, anticipating continued growth driven by government policies promoting cleaner energy[48]. Governance and Management - Mr. Wang Cong has been appointed as the Chairman and Executive Director of the company effective February 19, 2024[57]. - The company held a board and supervisory committee election on June 27, 2024, resulting in changes to the board composition[57]. - The company currently has three executive directors, three non-executive directors, and three independent non-executive directors as of the date of the annual report[64]. - The board includes members with extensive experience in finance, engineering, and management, contributing to the company's strategic direction[71]. - The board consists of six male and three female members, providing diverse and balanced perspectives[100]. - The board has adopted a diversity policy to ensure at least one female representative is maintained[100]. - The nomination committee regularly reviews the board diversity policy to ensure effective implementation[101]. - The board aims to maintain a balance of skills and experiences to support effective decision-making[101]. - The company has established a written guideline for the nomination committee to ensure qualified candidates are recommended[101]. - The board has conducted three shareholder meetings this year, ensuring that all directors are well-informed to address shareholder inquiries[109]. - The board has approved the annual budget and reviewed the operational and financial performance of the company[111]. - The company has established a clear governance structure supported by three committees: the Compensation Committee, the Nomination Committee, and the Audit Committee[120]. - Independent non-executive directors have confirmed their independence and continue to provide balanced and independent opinions to the board[116]. - The company has implemented a comprehensive training program for directors to ensure they are well-versed in corporate governance policies and regulations[118]. - The board has received annual independence confirmations from all existing independent non-executive directors, ensuring no serious interference in their independent judgment[116]. Shareholder Relations and Dividends - The company has established a framework for shareholders to propose temporary resolutions at shareholder meetings if they hold more than 3% of shares[159]. - The company will withhold and pay personal income tax at a rate of 10% on dividends distributed to H-share individual holders[165]. - As of December 31, 2024, the company's distributable reserves for shareholders amounted to approximately RMB 282 million, a decrease from RMB 328 million in 2023[171]. - The company does not recommend the distribution of dividends for the year ending December 31, 2024, consistent with the previous year[164]. - The board considers various factors when determining dividend levels, including operational performance, cash flow, and financial condition[151]. - The company maintains a dividend policy aimed at enhancing transparency in dividend distribution[150]. - The board of directors approved a dividend of $0.50 per share, reflecting a commitment to returning value to shareholders[10]. Operational Developments - The group continues to develop pipeline gas operations in Tianjin and Ulanqab, Inner Mongolia, with pipeline gas sales being the main source of revenue[35]. - The company is exploring various options for the potential sale of assets from its Jining branch, with no confirmed bidders as of the latest announcements[60]. - The company has established service agreements for directors and supervisors, effective until the conclusion of the annual general meeting in 2027[181]. - The company has established an internal audit department with 2 personnel to oversee internal audit activities[143]. - The company conducts annual risk assessments to identify major risks and fulfill its risk management responsibilities[141]. - The company has implemented measures to ensure compliance with information disclosure obligations and to handle insider information appropriately[144]. Market Position and Future Outlook - The company is expanding its market presence in Southeast Asia, targeting a 25% market share within the next two years[5]. - Research and development investments increased by 30%, totaling $300 million, focusing on innovative technologies[6]. - The company completed a strategic acquisition of a tech startup for $100 million, enhancing its product offerings[7]. - A new partnership was announced with a leading firm to enhance distribution channels, expected to increase sales by 10%[8]. - The company is implementing cost-cutting measures aimed at reducing operational expenses by 15% over the next fiscal year[9]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $30 million allocated for potential deals[7]. - Operational efficiency improvements are expected to reduce costs by 10%, translating to savings of approximately $5 million annually[8]. - The company has established a new partnership that is anticipated to generate an additional $20 million in revenue over the next year[9].

Financial Performance - The total assets of Tianjin Jinran Public Utilities Company Limited decreased from RMB 2,177,398,537.03 in 2023 to RMB 2,030,748,022.71 in 2024, representing a decline of approximately 6.75%[4][5] - Operating revenue for 2024 was RMB 1,595,299,972.10, down from RMB 1,780,527,288.76 in 2023, indicating a decrease of approximately 10.37%[6] - The net loss for 2024 was RMB 46,095,851.25, compared to a net loss of RMB 155,194,987.82 in 2023, showing an improvement of about 70.3%[6] - The company reported a basic loss per share of RMB 0.025 for 2024, compared to RMB 0.084 in 2023, indicating a reduction in loss per share[6] - The total operating revenue for 2024 was RMB 1,595,299,972.10, a decrease of approximately 10.4% from RMB 1,780,527,288.76 in 2023[25] - The total cost of operating revenue for 2024 was RMB 1,628,041,790.88, down from RMB 1,852,080,540.87 in 2023, reflecting a decrease of about 12.1%[25] - The gross margin for the reporting period was a loss of approximately 2.05%, improving from a loss of 4.02% in the previous year[33] - The pre-tax loss for the reporting period was approximately RMB 47,727,000, significantly reduced from a pre-tax loss of RMB 165,460,000 in the previous year[33] Assets and Liabilities - The company's total liabilities decreased from RMB 747,664,956.61 in 2023 to RMB 647,107,639.86 in 2024, a reduction of about 13.43%[5] - The company's cash and cash equivalents decreased from RMB 789,606,526.80 in 2023 to RMB 694,923,802.41 in 2024, a decline of approximately 12.0%[4] - The total equity attributable to shareholders decreased from RMB 1,430,673,046.58 in 2023 to RMB 1,384,346,569.38 in 2024, a decline of approximately 3.2%[5] - The accounts payable decreased to RMB 192,298,693.30 in 2024 from RMB 296,882,410.08 in 2023, representing a reduction of approximately 35.2%[24] - The company had no bank borrowings as of December 31, 2024, consistent with the previous year[36] - The net current assets were approximately RMB 412,695,000 as of December 31, 2024, compared to RMB 431,655,000 in 2023[36] - The company maintained a debt-to-asset ratio of approximately 0.32 as of December 31, 2024, slightly improved from 0.34 in the previous year[37] Accounts Receivable and Inventory - Accounts receivable increased from RMB 192,300,181.77 in 2023 to RMB 238,095,204.64 in 2024, representing an increase of about 23.9%[4] - Accounts receivable as of December 31, 2024, totaled approximately $238.1 million, an increase from $192.3 million in 2023, representing a growth of 23.9%[12] - The aging analysis of accounts receivable shows that amounts within one year increased to $237.7 million in 2024 from $192.3 million in 2023, indicating a growth of 23.6%[12] - The total inventory as of December 31, 2024, was approximately $1.68 million, down from $2.04 million in 2023, reflecting a decrease of 17.5%[16] - The company reported a provision for bad debts of approximately $11.8 million as of December 31, 2024, slightly up from $11.8 million in 2023, indicating a stable provision level[14] - The total amount of receivables financing decreased significantly to approximately $16.2 million in 2024 from $93.8 million in 2023, a drop of 82.7%[15] - The company’s expected credit loss rate for accounts receivable was 0.02% as of December 31, 2024, compared to 0.01% in 2023, indicating a slight increase in credit risk[14] Corporate Governance and Compliance - The audit committee has reviewed the consolidated financial performance for the reporting period, ensuring compliance with financial reporting systems and risk management[49] - The company has undergone a change in auditors, appointing Da Xin Accounting Firm as the new independent auditor after the previous auditor's term ended[53] - The company adheres to high corporate governance standards to enhance performance, transparency, and accountability, complying with all applicable codes during the reporting period[64] - The board of directors and supervisors confirmed compliance with the securities trading code during the reporting period[65] Future Outlook and Strategic Initiatives - The company remains optimistic about the growth of the natural gas industry in China, driven by government policies promoting cleaner energy usage[46] - The company plans to expand its operations in clean energy solutions, focusing on increasing shareholder returns and ensuring continuous growth in net cash flow[47] - The company aims to optimize its gas source structure to reduce gas intake costs and enhance internal management to cut administrative expenses[48] - The company is focusing on market expansion and deepening operations with major clients to capture new user growth while maintaining existing market share[48] - The company is exploring various options regarding the potential sale of assets from its Jining branch due to uncertainties in the bidding process[60] Shareholder Information - The company did not recommend any dividend payment for the 12 months ending December 31, 2024[29] - The annual general meeting is scheduled for June 27, 2025, with a suspension of share transfer registration from June 24 to June 27, 2025[66] - The 2024 annual report will be published on the company's and the stock exchange's websites at an appropriate time[67] Miscellaneous - The company is primarily engaged in the sale of pipeline natural gas, gas appliance sales, gas network connection services, and gas pipeline transportation services[7] - Certain figures in the announcement have been rounded, and forward-looking statements are based on various assumptions and estimates, subject to inherent risks and uncertainties[69]

天津津燃公用事業股份有限公司 TIANJIN JINRAN PUBLIC UTILITIES COMPANY LIMITED (於中華人民共和國註冊成立的殷份有限公司) 股份代號：1265 合併資產負債表 2024年6月30日 （金額單位：人民幣元） 天津津燃公用事業股份有限公司（「本公司」）董事（「董事」）會（「董事會」）公佈本公司及其附屬公司 （「本集團」）截至2024年6月30日止六個月（「 2024上半年」或「呈報期」）的未經審核中期業績，連同 2023年同期（「2023年上半年」）的未經審核比較數字如下： 合併資產負債表 2024年6月30日 （金額單位：人民幣元） | --- | --- | --- | --- | |-------------------------|--------|-----------------------------------|----------------------------| | | 附註八 | 2024 年 6 月 30 日 （未經審計） | 2023年12月31 日 （經審計） | | | | | | | 資產 | | | | | 流動資產 | | | ...

Financial Performance - The company's operating revenue for the first half of 2024 was RMB 873,429,018.15, a decrease of 4.4% compared to RMB 913,834,027.90 in the first half of 2023[6] - The net loss for the first half of 2024 was RMB 22,144,802.20, compared to a net loss of RMB 25,877,662.77 in the same period of 2023, indicating an improvement[6] - The company's gross profit margin for the first half of 2024 was negative, with operating costs exceeding revenues, leading to a gross loss of RMB 25,287,404.90[6] - The cost of sales for the first half of 2024 was CNY 898.72 million, down from CNY 953.21 million in the first half of 2023[26] - The revenue from pipeline natural gas sales in the first half of 2024 was CNY 863.60 million, compared to CNY 901.39 million in the same period of 2023[27] - The pre-tax loss for the reporting period was approximately RMB 29,100,000, compared to a pre-tax loss of RMB 35,100,000 for the first half of 2023[35] - The loss attributable to shareholders of the parent company was approximately RMB 22,100,000, compared to RMB 25,900,000 in the same period of 2023[35] - The basic and diluted loss per share for the first half of 2024 was RMB (0.012), compared to RMB (0.014) for the same period in 2023[33] Assets and Liabilities - Total current assets as of June 30, 2024, amounted to RMB 1,081,800,217.56, an increase of 31.8% from RMB 821,165,425.73 as of December 31, 2023[2] - Total liabilities increased to RMB 747,664,956.61 as of June 30, 2024, from RMB 492,789,095.11 as of December 31, 2023, reflecting a significant rise[4] - The company's cash and cash equivalents rose to RMB 789,606,526.80 as of June 30, 2024, compared to RMB 347,517,006.08 at the end of 2023, marking a substantial increase of 127.6%[2] - The total equity attributable to shareholders of the parent company was RMB 1,430,673,046.58 as of June 30, 2024, slightly up from RMB 1,409,033,136.77 at the end of 2023[4] - The total accounts receivable as of June 30, 2024, is 176,555,952.56, with an allowance for bad debts of 85,673.51[15] - The balance of receivables financing as of June 30, 2024, is 89,464,158.84, a decrease from 93,811,058.30 as of December 31, 2023[18] - The fixed assets have decreased from 790,024,131.72 at the beginning of the year to 763,080,204.22 at the end of June 2024[19] - The net value of fixed assets as of June 30, 2024, was CNY 857.87 million, reflecting an increase from CNY 884.82 million[21] - The total construction in progress as of June 30, 2024, was CNY 25.74 million, with a net value of CNY 24.30 million after impairment provisions[23] - Accounts payable as of June 30, 2024, totaled CNY 119.62 million, a decrease from CNY 296.88 million as of December 31, 2023[24] Accounts Receivable - The company reported a decrease in accounts receivable from RMB 255,858,546.24 as of December 31, 2023, to RMB 192,300,181.77 as of June 30, 2024, indicating improved collection efficiency[2] - The aging analysis of accounts receivable shows that the balance as of June 30, 2024, is RMB 267.69 million, compared to RMB 204.06 million as of December 31, 2023[12] - The company reported a bad debt provision rate of 4.39% for accounts receivable as of June 30, 2024[12] - The value of accounts receivable classified by credit risk characteristics shows a total of RMB 255.94 million, with a provision of RMB 85,673.51[12] - The aging analysis shows that 99.04% of accounts receivable are within 1 to 6 months, indicating a strong collection performance[15] - The allowance for bad debts for accounts aged 6 months to 1 year is 83,381.38, reflecting a significant increase in risk for this category[16] - The company has no bad debt provisions for the top five debtors, indicating a low risk of default from these key clients[17] - The accounts receivable from related parties amount to 79,388,267.19, with no bad debt provisions recorded[16] Corporate Governance and Management - The company has adhered to all applicable corporate governance codes during the reporting period, emphasizing transparency and accountability[49] - All directors and supervisors confirmed compliance with the securities trading code as per the listing rules[50] - The board of directors consists of three executive directors, three non-executive directors, and three independent non-executive directors as of the announcement date[51] - The company has appointed a new independent auditor, Da Xin Accounting Firm, effective after the 2023 Annual General Meeting[45] - The company appointed Mr. Wang Cong as the new Chairman and Executive Director effective February 19, 2024, succeeding Mr. Chen Tao[46] Future Outlook and Strategy - Future outlook remains cautious due to ongoing market challenges, with no specific guidance provided for the second half of 2024[6] - The company anticipates growth in China's natural gas industry, driven by policies promoting cleaner energy and infrastructure development[43] - The company plans to enhance financial management, reduce operational costs, and maximize project returns[44] - The company aims to address single gas source issues and expand market development by deepening user demand exploration[44] Investments and Contracts - The company has no significant investments or acquisitions during the reporting period, with a total investment limit of RMB 1 billion for bank deposit products[38] - A new gas supply contract with Tianjin Runhua Gas Co., Ltd. was established, with annual limits of RMB 1.326 billion for 2024, RMB 2.282 billion for 2025, RMB 2.473 billion for 2026, and RMB 992 million for the first quarter of 2027[46] - The company entered a procurement framework agreement with Tianjin Yunfu Gas Technology Co., Ltd. for engineering goods and materials, with a maximum total procurement price of RMB 9 million[47] - The company is exploring various options regarding the potential sale of assets from its Jining branch due to an unsuccessful bidding process[48] Employee and Cost Management - The total employee cost for the reporting period was approximately RMB 51.3 million, a decrease from RMB 54.7 million in the first half of 2023, with a total of 596 full-time employees[41] - The company does not recommend the distribution of dividends for the reporting period, consistent with the previous year[42] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024[33]

Financial Performance and Strategy - The company achieved a continuous growth in net cash flow, emphasizing strategic direction, economic efficiency, financing alignment, risk prevention, and prioritization principles[6]. - The "14th Five-Year" development strategy was approved by shareholders on June 27, 2023, indicating a clear roadmap for future growth[9]. - The company plans to adjust the base price for the potential sale of assets and liabilities of its subsidiary, reducing it from approximately RMB 103,080,200 to RMB 91,332,200[11]. - The company has established long-term strategies and approved the annual budget during the reporting period[42]. - The group’s main business activities include pipeline gas sales, gas appliance sales, gas network connections, and gas pipeline transportation[148]. - The financial summary and asset-liability overview for the last five fiscal years are detailed in the annual report[156]. - The group’s performance and asset summary are available on page 4 of the annual report[169]. - The group’s business review is included in the "Management Discussion and Analysis" section of the annual report[170]. Governance and Board Composition - The management team consists of three executive directors, three non-executive directors, and three independent non-executive directors, ensuring diverse governance[14]. - The board consists of six male and three female members, providing diverse and balanced perspectives for the company's development[33]. - The board has delegated daily management responsibilities to the management team, with oversight from the general manager and various board committees[51]. - The board is responsible for significant matters including policy, strategy, budget, internal controls, and risk management[51]. - The board has established clear responsibilities for its committees, including the remuneration committee, nomination committee, and audit committee, to ensure effective governance[83]. - The board has reviewed its structure and diversity, ensuring alignment with the company's business strategy[184]. - The board's composition and succession planning recommendations have been made to ensure the necessary expertise and experience[184]. Risk Management and Internal Controls - The company has a strong emphasis on risk management and economic benefits in its operational strategies[6]. - The company has implemented a risk management and internal control system, with the board responsible for reviewing its effectiveness[128]. - Annual risk assessments are conducted to identify key risks and ensure adequate monitoring and resolution of major risks[129]. - The company has established a comprehensive internal control environment, with necessary mechanisms to monitor and correct non-compliance issues[102]. - The audit committee has reviewed the annual financial performance for the year ending December 31, 2022, and the interim financial performance for the six months ending June 30, 2023[68]. - The audit committee confirmed that the annual report complies with applicable standards and regulations, ensuring full disclosure of financial information[68]. - The audit committee has a 100% attendance rate for its members during the year, ensuring thorough oversight of the external auditor's independence and audit procedures[93]. Compensation and Remuneration - The remuneration committee has evaluated the company's remuneration policies and structures for directors and senior management, determining individual compensation packages[69]. - The remuneration policy for directors is based on market salary levels and the company's actual situation[185]. - The remuneration committee determines the compensation for executive directors and senior management based on various factors including market conditions and individual responsibilities[185]. - All directors except for four have waived their director's remuneration during the year[190]. - The company has no compensation arrangements for directors dismissed due to misconduct[184]. - The company has established a three-year service agreement with all supervisors, expiring at the end of the 2024 annual general meeting[189]. Communication and Shareholder Engagement - The company emphasizes effective communication with shareholders, providing business activity information through financial reports and announcements[112]. - The company ensures continuous communication with shareholders, particularly through annual general meetings[159]. - The company has a framework for shareholder communication policies, which has been deemed effective based on shareholder participation and feedback[138]. - The company emphasizes the importance of maintaining a transparent communication channel with investors and analysts, ensuring timely disclosure of insider information[106]. Diversity and Talent Management - There is a focus on strengthening talent team construction and driving management changes through strategic transformation[6]. - The company has established a diversity policy to enhance the diversity of its members, considering factors such as gender, age, cultural background, and professional experience[53]. - The company has implemented a training program for directors to enhance their knowledge and skills, ensuring compliance with regulatory requirements[72]. - As of December 31, 2023, the company had 615 full-time employees, with approximately 38% being women, and about 40% of senior management positions held by women[109]. Compliance and Regulatory Adherence - The company has maintained compliance with listing rules regarding board composition and independence throughout the year[52]. - The company secretary acts as the main communication channel with the stock exchange, ensuring compliance with corporate governance codes[44]. - The company has implemented policies to ensure compliance with securities trading standards for directors and supervisors[88]. - The company secretary has undergone at least 15 hours of relevant professional training in compliance with listing rules[44]. - The board has reviewed and monitored the company's governance policies and practices, ensuring adherence to legal and regulatory standards[75]. - The nomination committee employs various methods to determine board candidates, ensuring a competitive background in relevant fields[36]. Dividend Policy - The board has the discretion to declare or distribute dividends in any fiscal year, with no guarantee of annual dividend payments[98]. - The company has established a dividend policy to enhance transparency in dividend distribution, aiding shareholders and potential investors in making informed investment decisions[110]. - The board considers factors such as cash flow and funding needs when determining the dividend level[111]. - The board of directors does not recommend the distribution of dividends for the year ending December 31, 2023, consistent with the previous year[167]. - The group's available reserves for distribution to shareholders as of December 31, 2023, amounted to approximately RMB 328 million, a decrease from RMB 483 million in 2022[153].

Financial Performance - The total revenue for 2023 was RMB 1,780,527,288.76, a slight increase from RMB 1,780,358,629.25 in 2022, representing a growth of 0.01%[6] - The net loss for 2023 was RMB 155,194,987.82, compared to a net loss of RMB 68,432,088.03 in 2022, indicating a significant increase in losses[6] - The basic loss per share for 2023 was RMB 0.084, compared to RMB 0.037 in 2022, indicating a worsening of the loss per share[6] - The company reported a significant increase in operating losses, which amounted to RMB 164,861,949.09 in 2023 compared to RMB 90,708,063.10 in 2022[6] - The gross profit margin for the reporting period was a loss of 4.02%, an improvement from the previous year's loss of 5.57%[39] - The company recorded a pre-tax loss of approximately RMB 165,460,000, compared to a pre-tax loss of RMB 92,891,000 in the previous year[39] Assets and Liabilities - Current assets decreased to RMB 1,081,800,217.56 in 2023 from RMB 1,478,995,904.95 in 2022, a decline of approximately 27%[4] - Total liabilities decreased to RMB 747,664,956.61 in 2023 from RMB 917,826,878.57 in 2022, a reduction of about 18.5%[5] - The total assets of the company decreased to RMB 2,177,398,537.03 in 2023 from RMB 2,503,305,611.68 in 2022, a decrease of about 13%[5] - The company's cash and cash equivalents decreased to RMB 789,606,526.80 in 2023 from RMB 1,067,256,503.97 in 2022, a decline of approximately 26%[4] - The company's inventory decreased significantly from RMB 4,277,384.14 in 2022 to RMB 2,035,300.70 in 2023, a reduction of approximately 52%[4] - The company's long-term equity investments slightly decreased to RMB 53,896,495.69 in 2023 from RMB 54,902,040.73 in 2022[4] Accounts Receivable and Payable - The company's accounts receivable as of December 31, 2023, totaled approximately $192.30 million, a decrease of 15.4% from $227.30 million in 2022[12] - The aging analysis of accounts receivable shows that receivables within one year decreased to $192.31 million in 2023 from $226.88 million in 2022, indicating a decline of 15.2%[12] - The provision for bad debts decreased to $11.76 million in 2023 from $12.45 million in 2022, reflecting a reduction of 5.5%[15] - The company reported a total of $93.81 million in receivables from bank acceptance bills as of December 31, 2023, down from $140.28 million in 2022, a decline of 33.2%[15] - The company reported a total of RMB 296,882,410.08 in accounts payable as of December 31, 2023, down from RMB 434,170,568.15 in 2022, reflecting improved cash flow management[26] Fixed Assets and Depreciation - The company's fixed assets increased to approximately $1.68 billion in 2023 from $1.62 billion in 2022, marking a growth of 3.6%[17] - The accumulated depreciation for fixed assets as of December 31, 2023, was approximately $796.83 million, compared to $730.40 million in 2022, an increase of 9.1%[17] - The year-end book value of fixed assets totaled RMB 1,623,106,091.17, an increase from RMB 1,533,751,079.63 at the beginning of the year[22] - The accumulated depreciation for fixed assets at year-end 2023 was RMB 730,403,267.36, up from RMB 670,672,200.52 at the start of the year[22] - The company recognized an impairment provision of approximately RMB 86,000,000 for fixed assets during the reporting period due to market changes and sales forecasts[41] Strategic Initiatives and Future Outlook - The company anticipates continued growth in China's natural gas industry and consumption, benefiting from the "14th Five-Year Plan" and various pollution control policies[52] - Natural gas is expected to become the primary fuel for urban residents, with significant applications in public transportation and industrial sectors, particularly in the Bohai Rim region[53] - The company plans to address single gas source issues, expand market reach, and enhance internal management to reduce administrative costs in 2024[54] - The company aims to strengthen technological innovation and improve operational safety and management methods[57] - The company is committed to maximizing shareholder returns while ensuring sustainable cash flow growth[54] - The company will continue to enhance its financial management system to lower operating costs and maximize project returns[54] Corporate Governance and Compliance - The company confirmed compliance with corporate governance standards, focusing on internal controls and fair disclosure[73] - The board of directors has adopted a securities trading code for compliance by directors and supervisors, confirming adherence during the reporting period[74] - The company has appointed a new independent auditor, KPMG, to enhance the independence and quality of its audit work[58] - The company has received shareholder approval for its "14th Five-Year" development strategy plan, which focuses on clean energy solutions[60] Employee and Operational Changes - The company had a total of 615 full-time employees as of December 31, 2023, down from 695 employees in the previous year[49] - The company did not recommend any dividend payment for the 12 months ending December 31, 2023[33] - The company did not declare or recommend any dividends during the reporting period, consistent with the previous year[51] Contracts and Agreements - The new construction framework agreement with Tianjin Energy Investment Group has annual caps of RMB 141 million, RMB 124 million, and RMB 77 million for the years ending December 31, 2023, 2024, and 2025, respectively[64] - The company entered into a procurement contract with Tianjin Yumin Gas Meter Co., Ltd. for IoT gas meters, with annual caps of RMB 22 million, RMB 2.048 million, and RMB 2 million for the years ending December 31, 2023, 2024, and 2025 respectively[65] - A city gas supply contract was signed with Tianjin Binran Pipeline Construction Co., Ltd., with annual caps of RMB 344 million, RMB 375 million, and RMB 408 million for the years ending December 31, 2024, 2025, and 2026 respectively[66] - A new gas supply contract with Tianran Huarun was established, effective from April 1, 2024, to March 31, 2027, with annual caps of RMB 1.326 billion, RMB 2.282 billion, RMB 2.473 billion, and RMB 992 million for the respective periods[68] Miscellaneous - The potential sale of assets from the company's Qiqihar branch has a revised minimum price of approximately RMB 91.332 million[70] - The annual general meeting is scheduled for June 27, 2024, with a suspension of share transfer registration from June 24 to June 27, 2024[75] - The company has not purchased, sold, or redeemed any listed securities during the reporting period[72] - The company’s 2023 annual report will be published on its website and the stock exchange's website at an appropriate time[76] - The board of directors includes three executive directors, three non-executive directors, and three independent non-executive directors as of March 28, 2024[78]

贤本公灵 小好 天津津燃公用事業股份有限公司 二零二三年中期報告 （金額單位：人民幣元） | --- | --- | --- | --- | --- | --- | --- | |----------------------------|----------------|----------------|----------------|----------------|-----------------|------------------| | | | | | | | | | 一、本期期初餘額（經審計） | 183,930,780.00 | 790,332,352.18 | 550,525.89 | 128,277,523.13 | 493,683,541.21 | 1,596,774,722.41 | | | | | | | | | | （一）綜合收益總額 | – | – | – | – | (25,762,013.23) | (25,762,013.23) | | 1. 本期提取 | – | – | 4,815,115.69 | – | – | 4,815,115.69 | | 2. 本期使用 | – ...

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，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 天津津燃公用事業股份有限公司 TIANJIN JINRAN PUBLIC UTILITIES COMPANY LIMITED （於中華人民共和國註冊成立之股份有限公司） 01265 （股份代號： ） 截至二零二三年六月三十日止六個月 中期業績公告 摘要 • 913,834,000 二零二三年上半年，錄得營業收入約人民幣 元。 • 40,121,000 二零二三年上半年，錄得毛損約人民幣 元。 • 二零二三年上半年，錄得除稅前虧損及歸屬於母公司股東的綜合收益總額中的虧損 35,065,000 25,864,000 分別約人民幣 元及約人民幣 元。 • 董事會不建議就二零二三年上半年派發中期股息。 天津津燃公用事業股份有限公司（「本公司」）董事（「董事」）會（「董事會」）提呈本公司及其 附屬公司（「本集團」）截至二零二三年六月三十日止六個月（「二零二三年上半年」或「中期 ...

Financial Performance - The company's revenue for the year ended December 31, 2022, was approximately RMB 1,780,359,000, representing an increase of about 13% compared to RMB 1,579,770,000 in the previous year[26]. - The operating loss for the year was RMB 90,708,000, a significant decline from an operating profit of RMB 7,909,000 in the previous year[15]. - The net loss attributable to shareholders for the year was RMB 68,345,000, compared to a profit of RMB 1,432,000 in the previous year[15]. - The gross profit margin decreased from approximately 0.54% in the previous year to a loss margin of about 5.68% in the current year[26]. - As of December 31, 2022, the group had cash and cash equivalents of approximately RMB 964,053,000, an increase of about 3% from RMB 936,590,000 in the previous year[52]. - Accounts payable increased by approximately 117%, reaching RMB 434,171,000 compared to RMB 200,485,000 in the previous year[52]. - In 2022, the company experienced a significant decline in operating performance, with ongoing pressure for growth[40]. Corporate Governance - The company has revised its articles of association to update shareholder information and improve corporate governance[37]. - The major shareholder, Tianjin Huaren, holds approximately 70.54% of the company's issued share capital[36]. - The board consists of one-third independent non-executive directors, ensuring a high level of independence[79]. - The company emphasizes the importance of high corporate governance standards to enhance performance, transparency, and accountability[76]. - The supervisory board is responsible for monitoring the actions of senior management to ensure compliance with laws and company regulations[69]. - The company has appointed independent directors with significant experience in management and finance, enhancing governance quality[68]. - The company has established effective corporate governance practices based on the principles outlined in the corporate governance code[76]. - The supervisory board has the authority to review the company's financial status and ensure corrective actions are taken when necessary[69]. - The company has a dedicated audit committee to oversee financial reporting and compliance[68]. - The board collectively is responsible for appointing and supervising senior management[77]. - The board consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[104]. - The company has established a nomination committee to identify suitable candidates for board membership[84]. - The board maintains gender diversity, ensuring at least one female representative seat[85]. - The board is responsible for setting the group's goals, strategies, policies, and business plans[98]. - The management team is responsible for daily operations, reporting to the board[99]. - The company complies with all applicable corporate governance codes[96]. - The independent non-executive directors possess relevant business, financial, and management skills[86]. - The board's composition includes members with extensive experience in the energy sector and various professional fields[104]. - The company has a balanced board structure that ensures independence and objectivity[104]. - The board of directors has adopted a nomination policy to ensure qualified candidates for board membership, with final responsibility resting with the board[105]. - The nomination committee evaluates candidates based on qualifications and relevant expertise, considering diversity factors such as gender, age, and professional experience[106]. - The company has provided comprehensive materials and training to directors to ensure compliance with regulations and best practices[116]. - The nomination committee will regularly review the effectiveness of the board diversity policy[122]. - The board has maintained a high standard of corporate governance, ensuring all procedures comply with established codes[126]. Strategic Focus and Development - The company anticipates that natural gas will become the primary fuel for urban residents, with significant applications in transportation and industrial sectors[34]. - The company aims to enhance its financial management system to reduce operating costs and maximize project returns[35]. - The company aims to strengthen internal reforms and management to enhance institutional construction and implementation, preventing systemic risks[40]. - The focus will be on expanding the pipeline gas market and deepening user demand within existing market shares[40]. - The company plans to actively coordinate with gas source units and natural gas price management departments to resolve pricing mechanism issues[40]. - The company will continue to emphasize balanced development in the natural gas business while exploring pipeline gas market opportunities through mergers and acquisitions[49]. - The board will implement a new development philosophy to stimulate innovation and enhance value-added services[40]. - The company is committed to sustainable development and will advance ESG responsibilities while enhancing legal compliance and corporate governance[40]. - The company has received annual independence confirmations from all existing independent non-executive directors, ensuring balanced and independent opinions in strategic decisions[137]. - The board is supported by three committees: the remuneration committee, nomination committee, and audit committee, each with clear responsibilities[141]. - Directors participated in various training and professional development activities to enhance their knowledge and skills throughout the year[150]. - The company adopted a strict code of conduct for securities trading by directors and supervisors, in compliance with listing rules[136]. - The company is committed to continuous improvement in corporate governance practices and compliance with applicable laws and regulations[135]. - In 2022, the company focused on strengthening its compliance system, enhancing board construction, and optimizing the institutional framework[185]. - The company aimed to mitigate the impact of COVID-19 by seeking new users transitioning from other energy sources to gas, while also reviewing existing and potential investments[189]. - The company emphasized the importance of internal control and cost management to lower risks during challenging times[189]. Operational Improvements - The company focused on enhancing service quality, optimizing installation services, and streamlining processes to improve operational efficiency[161]. - Significant investments were made in technology and funding for the renovation of old pipelines and indoor equipment to ensure safety and stable gas supply[161]. - The company aims to improve governance structure and enhance public service levels while exploring new growth points[161]. - The board of directors and management are committed to overcoming difficulties and seeking new opportunities for development[161].

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，並明確表示概不就因本公告全部或任何部分內容而 產生或因倚賴該等內容而引致的任何損失承擔任何責任。 天津津燃公用事業股份有限公司 TIANJIN JINRAN PUBLIC UTILITIES COMPANY LIMITED （於中華人民共和國註冊成立之股份有限公司） 01265 （股份代號： ） 截至二零二二年十二月三十一日止年度 全年業績公告 天津津燃公用事業股份有限公司（「本公司」）之董事（「董事」）會（「董事會」）欣然宣佈本公 司及其附屬公司（統稱「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： 合併資產負債表 二零二二年十二月三十一日 人民幣元 2022 2021 年 年 12 31 12 31 附註四 月 日 月 日 資產 流動資產 1,067,256,503.97 1,150,947,998.99 貨幣資金 1 227,301,208.95 157,289,566.44 應收賬款 2 140,278,760.77 47,215,625.61 ...