Financial Proceeds and Allocations - The net proceeds from the global offering, after deducting expenses and commissions, amounted to approximately HKD 115.6 million[2] - The board has decided to reallocate funds originally designated for establishing an industry acquisition fund to expand the oil and natural gas station network[2] - The revised allocation for expanding the oil and natural gas station network is HKD 50 million, with HKD 25.286 million already utilized as of December 31, 2024[3] - The logistics transportation fleet expansion is allocated HKD 10 million, with HKD 9.198 million already utilized as of December 31, 2024[3] - The total amount utilized as of December 31, 2024, is HKD 90.886 million out of the HKD 115.6 million net proceeds[3] - The company plans to utilize the remaining proceeds for further expansion of its operations and marketing strategies[3] Share Options - The total number of share options available under the share option scheme as of January 1, 2024, and December 31, 2024, is 23,450,200 shares each[6] - The total number of shares available for issuance under the share option scheme represents approximately 6.3% of the company's issued share capital as of the annual report date[6] Marketing and Promotions - The board has approved the allocation of funds for strengthening marketing and promotional strategies amounting to HKD 5.8 million, which has been fully utilized[3] Supplementary Information - The company maintains that the supplementary information provided does not affect the other information contained in the annual report[4]

(於開曼群島註冊成立之有限公司) 股份代號 : 2337 年 報 2024 目錄 | 公司資料 | 2 | | --- | --- | | 財務摘要 | 3 | | 主席報告 | 4 | | 管理層討論及分析 | 7 | | 企業管治報告 | 17 | | 環境、社會及管治報告 | 27 | | 董事及高級管理層 | 83 | | 董事會報告 | 87 | | 獨立核數師報告 | 98 | | 綜合損益表 | 105 | | 綜合損益及其他全面收益表 | 106 | | 綜合財務狀況表 | 107 | | 綜合權益變動表 | 109 | | 綜合現金流量表 | 110 | | 財務報表附註 | 112 | | 財務概要 | 172 | 公司資料 董事會 薪酬委員會成員 執行董事 趙金岷先生 （主席兼行政總裁） 劉英武先生 馬海東先生 王志偉先生 邊曉丹女士（於二零二四年八月二十九日獲委任） 非執行董事 徐輝林先生（自二零二四年二月二十九日起辭任） 獨立非執行董事 蘇丹女士 劉英傑先生 張志峰先生 公司秘書 盧偉傑先生， ACCA、FCPA、CFA 授權代表 馬海東先生 盧偉傑先生 審核委員會成員 劉英傑先生 ...

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 部或任何部分內容所產生或因依賴該等內容而引致的任何損失承擔任何責任。 UNITED STRENGTH POWER HOLDINGS LIMITED 眾誠能源控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2337） 截至二零二四年十二月三十一日止年度的 全年業績公告 財務摘要 – 1 – • 收益增加約5%至人民幣7,724.3百萬元（二 零 二 三 年：約 人 民 幣7,346.9百 萬 元）。 • 本公司權益股東應佔溢利增加約72%至人民幣67.8百萬元（二 零 二 三 年： 約人民幣39.5百 萬 元）。 • 每股基本盈利為人民幣0.18元（二 零 二 三 年：人 民 幣0.11元）。 • 董事會擬就截至二零二四年十二月三十一日止年度派付末期股息15.0 百 萬 港 元。股 東 將 收 取 每 股 普 通 股0.04港 元 的 股 息。 財務報表 眾誠能源控股有限公司（「 ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 3,839,411 thousand, representing a 20.6% increase from RMB 3,184,044 thousand in the same period of 2023[14] - Gross profit for the same period was RMB 212,028 thousand, up from RMB 172,608 thousand, resulting in a gross margin of 6% compared to 5% in 2023[14] - Net profit for the period was RMB 27,940 thousand, significantly higher than RMB 7,147 thousand in the previous year, indicating a strong growth trajectory[14] - Earnings per share (basic and diluted) increased to RMB 0.07 from RMB 0.02 year-over-year[14] - The company reported operating profit of RMB 55,242 thousand, up from RMB 25,440 thousand in the same period last year[16] - The total comprehensive income for the period was RMB 28,833 thousand, compared to RMB 10,345 thousand in 2023[17] - The company reported a profit of RMB 26,970 thousand for the six months ended June 30, 2024[24] - Other comprehensive income for the period was RMB 916 thousand, contributing to a total comprehensive income of RMB 27,886 thousand[24] - Profit before tax increased by approximately RMB 31.5 million to about RMB 42.1 million, compared to RMB 10.6 million for the same period in 2023[84] - Net profit for the six months ended June 30, 2024, was approximately RMB 27.9 million, an increase of about RMB 20.8 million compared to RMB 7.1 million in the same period last year[86] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 1,681,263 thousand, down from RMB 1,914,596 thousand at the end of 2023[14] - Current liabilities decreased to RMB 892,128 thousand, down 21.8% from RMB 1,140,694 thousand at the end of 2023[19] - The net value of current assets increased to RMB 231,278 thousand, up 20.3% from RMB 192,271 thousand as of December 31, 2023[19] - Non-current liabilities rose to RMB 275,554 thousand, an increase of 5.5% from RMB 261,795 thousand at the end of 2023[19] - The company's total equity reached RMB 513,581 thousand, slightly up from RMB 512,107 thousand as of December 31, 2023[20] - The debt ratio as of June 30, 2024, was approximately 69%, down from 73% as of December 31, 2023[89] Cash Flow - Cash and cash equivalents increased to RMB 70,077 thousand, up from RMB 46,517 thousand at the end of 2023[19] - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB 49,387 thousand, slightly up from RMB 48,871 thousand in 2023[25] - The net cash used in investing activities was RMB (3,926) thousand, significantly improved from RMB (29,311) thousand in the same period of 2023[25] - The group reported a net increase in cash and cash equivalents of RMB 23,488 thousand for the six months ended June 30, 2024, compared to RMB 24,868 thousand in 2023[25] - The group’s financing activities resulted in a net cash outflow of RMB (21,973) thousand, contrasting with a net inflow of RMB 5,308 thousand in the same period of 2023[25] Revenue Breakdown - Revenue from the sale of refined oil and natural gas reached RMB 3,790,626 thousand for the six months ended June 30, 2024, compared to RMB 3,150,615 thousand in 2023, marking an increase of 20.3%[30] - Revenue from transportation services was RMB 37,807 thousand, up from RMB 33,387 thousand in the previous year, reflecting an increase of 13.5%[30] - The revenue from the sale of refined oil was RMB 3,675,855 thousand, while the sale of natural gas generated RMB 140,876 thousand, and transportation services contributed RMB 64,382 thousand[36] - The company’s refined oil sales accounted for approximately 95% of total revenue in the first half of 2024[73] Expenses - Employee costs increased to RMB 83,108 thousand from RMB 81,671 thousand year-on-year, showing a rise of approximately 1.8%[42] - Depreciation expenses decreased to RMB 32,652 thousand from RMB 37,422 thousand, marking a reduction of about 13%[43] - Other operating expenses rose by 20% to approximately RMB 43.6 million, primarily due to increased legal and professional fees as well as rental expenses[82] - The cost of goods purchased increased to RMB 1,453,303,000 for the six months ended June 30, 2024, compared to RMB 1,114,166,000 in the prior year, reflecting a rise of about 30%[66] Shareholder Information - As of June 30, 2024, Mr. Zhao holds 209,829,240 shares, representing 56.03% of the company's equity, while Mr. Liu holds 27,287,600 shares, representing 7.29%[99] - Major shareholders include Golden Truth with 56.03% and Ruishan with 19.17% of the company's shares[103] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year where no dividend was paid[60] - A special dividend of HKD 0.08 per share was approved, amounting to approximately HKD 30 million based on 374,502,000 issued ordinary shares[111] Corporate Governance - The company has complied with all corporate governance codes except for the dual role of the Chairman and CEO held by Mr. Zhao since December 31, 2020[106] - The audit committee, consisting of independent non-executive directors, reviews the financial reporting and risk management systems[107] - The interim financial report for the six months ending June 30, 2024, was reviewed by KPMG and deemed compliant with applicable accounting standards[108] - The remuneration committee is responsible for reviewing the compensation of directors and senior management, with members including executive director Liu Yingwu and independent non-executive directors Zhang Zhifeng and Su Dan[109] - The nomination committee is tasked with reviewing the board's structure and composition, with members including executive director Ma Haidong and independent non-executive directors Su Dan and Zhang Zhifeng[110]

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之內容概不 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 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 UNITED STRENGTH POWER HOLDINGS LIMITED 眾誠能源控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2337） 截至二零二四年六月三十日止六個月的 未經審核中期業績公告 | --- | --- | |-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 截至二零二四年六月三 ...

Economic Performance - In 2023, China's GDP exceeded 126 trillion yuan, growing by 5.2% year-on-year, indicating a recovery in the domestic economy post-pandemic[4] - The global economic growth is projected to slow down to 2.7% in 2024, down from 2.9% in 2023, impacting oil and gas consumption growth[56] - China's crude oil consumption is expected to increase by 500,000 barrels per day in 2024, indicating a significant slowdown in growth compared to 2023[56] Energy Production and Consumption - The industrial natural gas production in China reached 229.7 billion cubic meters, an increase of 5.8% year-on-year, while natural gas imports rose to 119.97 million tons, up by 9.9%[4] - The oil production in China reached 208.91 million tons, growing by 2.0% year-on-year, while crude oil imports increased to 563.99 million tons, up by 11.0%[4] - The sales volume of finished oil reached approximately 913,000 tons in 2023, a year-on-year increase of about 27% compared to 718,000 tons in 2022[49] New Energy Vehicles - The retail sales of new energy passenger vehicles in 2023 totaled 7.736 million units, reflecting a year-on-year growth of 36.2% and an annual penetration rate of 35.7%, up by 8.1 percentage points[21] - The company plans to leverage its experience in gas station operations to expand into the new energy vehicle charging station market, broadening its revenue sources[21] - The group anticipates that new energy vehicle production and sales will reach approximately 11.5 million units in 2024, with a growth rate of around 20%[78] Financial Performance - The company recorded a year-on-year revenue increase of 36.2%, with an annual penetration rate of 35.7%, up by 8.1 percentage points[27] - In 2023, the company's transportation revenue was RMB 67.7 million, representing a 17% increase from RMB 57.7 million in 2022, accounting for 1% of total revenue[28] - The company's revenue for the year 2023 reached RMB 7,346,895 thousand, an increase of 20.7% compared to RMB 6,089,366 thousand in 2022[109] Corporate Governance - The board is committed to maintaining high levels of corporate governance to protect shareholder interests and enhance corporate value[81] - The company has established a corporate governance policy and compliance manual for employees and directors[122] - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors[85] Risk Management - The company has identified key risks including supply chain dependencies and the volatility of fuel prices, which directly impact sales costs and gross margins[34] - The company has not implemented foreign currency hedging policies but monitors foreign exchange risks and will consider hedging when necessary[34] - The company plans to review its risk management and internal control systems annually to ensure effectiveness[104] Environmental, Social, and Governance (ESG) - The group is committed to aligning with national goals and policies while striving to reduce operational environmental impacts, focusing on natural gas sales, oil wholesale, refueling, and transportation services[135] - The group conducts annual materiality assessments to identify significant ESG factors that may impact its business in the long term[137] - The board emphasizes the importance of integrating ESG considerations into business development and decision-making processes[144] Employee and Stakeholder Engagement - The group has a total of 1,493 employees as of December 31, 2023[75] - The company emphasizes the importance of investor relations for enhancing transparency and corporate governance, actively engaging in various investor-related activities and meetings[131] - The group engages with stakeholders through regular reports, meetings, and surveys to gather feedback on its ESG management[187] Future Plans and Investments - The company plans to expand its logistics vehicle fleet using unutilized funds of HKD 10 million to enhance transportation capacity[54] - The company expects to fund future capital commitments through operating income, bank loans, and other financing methods[73] - The company allocated RMB 104,000 thousand for the development of natural gas refueling stations[74]

UNITED STRENGTH POWER HOLDINGS LIMITED 眾誠能源控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2337） 財務報表 – 2 – 期內其他全面收入（除 稅 後）： 可 於 隨 後 重 新 分 類 至 損 益 的 項 目： －以 外 幣 計 值 的 財 務 報 表 換 算 – 4 – | --- | --- | --- | |----------------------------|---------|---------| | | | | | 非流動負債 銀行及其他貸款 | 52,500 | – | | 租賃負債 | 259,260 | 264,732 | | 遞延稅項負債 | 4,072 | 4,128 | | | 315,832 | 268,860 | | | | | | 資產淨值 | 477,864 | 467,624 | | 資本及儲備 | | | | 股 本 | 32,293 | 32,293 | | 儲 備 | 406,124 | 396,391 | | 本公司權益股東應佔權益總額 | 438,417 | 428,68 ...

Employee Training and Safety - In the fiscal year 2022, the group recorded a total of 1,620 employees trained, with a focus on safety courses[11] - The average training hours for employees were 26.3 hours, with male employees averaging 24.0 hours and female employees averaging 26.7 hours[14] - The group lost a total of 105 workdays due to occupational injuries in the fiscal year 2022[7] - The group has established a comprehensive emergency mechanism to promptly identify and resolve issues during operations[22] - The company has implemented safety checks on vehicles before, during, and after operations to prevent leaks and ensure product quality[51] Supplier and Supply Chain Management - The group maintained cooperation with 103 suppliers, with 77 located within the province of operation and 26 from other regions[23] - The group emphasizes the importance of a healthy and stable supply chain, continuously improving its ESG management system[18] - The company signed a supply agreement with Songyuan Petrochemical in December 2022 to ensure stable oil supply for its gas stations in 2023, reducing the impact of oil price fluctuations[149] - The company cannot guarantee that suppliers will continue to provide sufficient refined oil, especially during unexpected increases in demand[1] - The company is required to establish procurement channels and maintain good business relationships with midstream refineries or wholesalers to ensure stable fuel supply[1] Customer Engagement and Satisfaction - The group strictly adheres to customer privacy laws, ensuring that personal data collected during business processes is treated as confidential[27] - The group has implemented a standardized process for handling customer complaints to ensure efficient resolution[26] - The company maintained a customer satisfaction rate of 90% by ensuring strict quality control over fuel products and providing free personal and vehicle disinfection services during the pandemic[49][51] - The company emphasizes a "customer-oriented" service philosophy, aiming to enhance customer satisfaction and long-term value creation[49] Community Engagement and Social Responsibility - The company actively engages in community projects and encourages employee participation in social responsibility initiatives[57] - The company donated two batches of anti-COVID-19 supplies, including 3 tons of alcohol disinfectant and 300 sets of medical protective gear, to local authorities[57] Compliance and Governance - The company established a compliance internal audit department in fiscal year 2021 to investigate and verify any illegal activities within the group[30] - The company strictly adheres to local anti-corruption and bribery laws, including the Anti-Corruption Law of the People's Republic of China[30] - The company has not been aware of any concluded corruption lawsuits against it or its employees during the fiscal year 2022[56] - The audit committee monitored the integrity of the company's financial statements and annual reports, ensuring compliance with applicable standards[179] - The company has implemented a financial reporting system, risk management, and internal control systems to ensure effective oversight[179] Financial Performance - Revenue for the year 2022 was RMB 6,089,366 thousand, an increase of 4.4% from RMB 5,830,081 thousand in 2021[105] - Gross profit decreased to RMB 393,102 thousand, resulting in a gross margin of 6%, down from 11% in the previous year[105] - Net profit for the year was RMB 18,951 thousand, a significant decline of 89.6% compared to RMB 181,924 thousand in 2021[105] - The total assets increased slightly to RMB 1,555,454 thousand from RMB 1,544,375 thousand in 2021[105] - The net asset value rose to RMB 467,624 thousand, up from RMB 448,661 thousand in the previous year[105] ESG Management and Strategy - The group has established a central safety committee responsible for formulating ESG policies and coordinating internal management[75] - The group emphasizes the importance of stakeholder engagement and has conducted online surveys to assess key ESG issues[71] - The company aims to enhance its ESG management practices by establishing a standardized data management system and aligning with national and local policy requirements[85] - The company is committed to creating long-term value for stakeholders through a forward-looking and systematic ESG strategy[88] - The company aligns its ESG strategy with its business development vision, ensuring responsible growth and innovation in its operations[96] Market Trends and Projections - The company anticipates a continued increase in natural gas demand, projecting consumption to reach between 4,300 and 4,500 billion cubic meters by 2025[110] - The average Brent crude oil price for 2022 was $99.04 per barrel, reflecting a 39.6% increase year-on-year[113] - Domestic crude oil import prices rose from $573 per ton in January to a peak of $808 per ton in July, marking a 41.1% increase over six months[113] - The company expects domestic oil demand to significantly recover starting from Q2 2023, with a projected consumption volume of 22.3 billion cubic meters in Jilin Province, reflecting a growth rate of 9.8%[1] Operational Risks and Challenges - The company faces operational risks due to internal procedural deficiencies or external incidents, which are managed by various departments based on standard operating procedures[1] - The management will regularly identify and assess major operational risks to implement appropriate risk response measures[1] - The group’s profitability may be adversely affected by fluctuations in procurement prices of refined oil and natural gas[165] Capital and Investment - Capital expenditures for property, plant, and equipment in 2022 were RMB 12.0 million, with capital commitments of RMB 11.6 million as of December 31, 2022[141] - The company expects to fund capital commitments through future operating income, bank loans, and other financing methods[141] - The company holds a 30% indirect stake in a joint venture, which contributed to its profits following the acquisition of Yinquan Green Energy[138] Corporate Governance and Board Activities - The company aims to achieve board member diversity by adopting measurable targets[184] - The company has established a nomination committee to evaluate and select candidates for board membership[183] - The company encourages all directors to participate in continuous professional development to enhance their knowledge and skills related to business and director responsibilities[186]

UNITED STRENGTH POWER HOLDINGS LIMITED 眾誠能源控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：2337） | --- | --- | |-------|-----------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 收益增加約 4% 至人民幣 6,089.4 百萬元（二 零 二 一 年：約 人 民 幣 5,830.1 百 萬 元）。 | | • | 本公司權益股東應佔溢利減少約 91% 至人民幣 16.5 百萬元（二 零 二 一 年： 約人民幣 176.6 百 萬 元）。 | | • | 每股基本盈利為人民幣 0.04 元（二 零 二 一 年：人 民 幣 0.47 元）。 | 財務報表 綜合損益表 截至二零二二年十二月三十一日止年度 （以 人 民 幣（「人民幣」）列 值） – 2 – 二零二二年 二零二一年 人民幣千元 人民幣千元 年內其他全 ...

Financial Performance - For the six months ended June 30, 2022, the company reported revenue of RMB 2,681,756 thousand, an increase of 17.0% compared to RMB 2,291,301 thousand for the same period in 2021[6]. - Gross profit for the same period was RMB 176,804 thousand, resulting in a gross margin of 7%, down from 14% in the previous year[6]. - The net profit attributable to equity shareholders was RMB 5,708 thousand, a significant decrease of 95.0% from RMB 113,502 thousand in the prior year[6]. - Basic and diluted earnings per share were RMB 0.02, compared to RMB 0.30 in the previous year, reflecting a decline in profitability[6]. - The company reported a total comprehensive income of RMB 12,265 thousand for the period, down from RMB 116,116 thousand in the same period last year[10]. - The company experienced a decrease in operating profit to RMB 31,235 thousand, down from RMB 175,464 thousand in the previous year[8]. - The company reported a profit of RMB 5,708 thousand for the six months ended June 30, 2022, compared to a profit of RMB 113,502 thousand in the same period last year[16]. - The total comprehensive income for the period was RMB 10,671 thousand, down from RMB 113,641 thousand in the prior year[16]. - The company reported a pre-tax profit of RMB 12,528 thousand for the six months ended June 30, 2022, a significant decrease from RMB 157,427 thousand in the same period of 2021, representing a decline of approximately 92.0%[31]. - Net profit for the six months ended June 30, 2022, was approximately RMB 7.4 million, a decrease of about RMB 108.6 million from RMB 116.0 million in the same period of 2021[83]. Revenue Breakdown - Revenue from the sale of refined oil and natural gas reached RMB 2,650,380,000, representing a 17% increase from RMB 2,265,700,000 in the previous year[26]. - Revenue from transportation services amounted to RMB 31,370,000, a growth of 27% compared to RMB 24,620,000 in the same period last year[26]. - The reportable segment revenue for the sale of refined oil was RMB 2,575,701 thousand, for the sale of natural gas was RMB 86,971 thousand, and for transportation services was RMB 52,429 thousand, totaling RMB 2,715,101 thousand[30]. - The company's refined oil sales revenue reached approximately RMB 2,563.5 million, up about 19%, accounting for 96% of total revenue during the same period[67]. - Natural gas sales revenue decreased to approximately RMB 87.0 million, a year-on-year decline of about 18%, representing about 3% of total revenue[68]. Assets and Liabilities - Total assets as of June 30, 2022, amounted to RMB 1,617,445 thousand, an increase from RMB 1,544,375 thousand at the end of 2021[6]. - Total liabilities reached RMB 850,480 thousand, representing a rise of 15.3% compared to RMB 737,592 thousand in the previous year[12]. - The net asset value stood at RMB 452,659 thousand, slightly up from RMB 448,661 thousand, indicating a growth of 0.4%[13]. - The company's equity attributable to shareholders increased to RMB 414,299 thousand from RMB 411,804 thousand, marking a growth of 0.6%[13]. - Trade receivables increased to RMB 42,879,000 as of June 30, 2022, compared to RMB 35,270,000 as of December 31, 2021, reflecting a growth of 21.5%[43]. - Total bank and other loans amounted to RMB 261,248,000 as of June 30, 2022, compared to RMB 207,453,000 as of December 31, 2021, representing a 26% increase[48]. - Trade payables increased to RMB 121,480,000 as of June 30, 2022, compared to RMB 68,947,000 as of December 31, 2021, showing a growth of 76%[50]. Cash Flow and Investments - For the six months ended June 30, 2022, the operating cash flow was RMB 108,494,000, an increase of 19% compared to RMB 91,251,000 in the same period of 2021[17]. - The net cash generated from operating activities was RMB 91,414,000, up 75% from RMB 52,182,000 year-on-year[17]. - The net cash used in investing activities was RMB (847,000), significantly improved from RMB (7,015,000) in the previous year[17]. - The group reported a net increase in cash and cash equivalents of RMB 15,630,000, contrasting with a decrease of RMB (38,474,000) in the same period last year[17]. - The group’s cash and cash equivalents as of June 30, 2022, stood at RMB 69,667,000, compared to RMB 73,113,000 at the end of the previous year[17]. Operational Metrics - Employee costs for the six months ended June 30, 2022, were RMB 74,959 thousand, down from RMB 77,980 thousand in the same period of 2021, reflecting a reduction of about 3.9%[35]. - Depreciation expenses increased to RMB 43,562 thousand from RMB 40,557 thousand year-on-year, marking an increase of approximately 7.4%[36]. - Other operating expenses decreased by 30% to approximately RMB 28.3 million, down from RMB 40.6 million, mainly due to reduced operations during the COVID-19 outbreak in Northeast China[78]. - The group incurred capital expenditure of RMB 315,000 on property, plant, and equipment, a decrease of 96% compared to RMB 7,792,000 for the same period in 2021[41]. Corporate Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards[109]. - The company has complied with all provisions of the corporate governance code, except for the attendance of some independent non-executive directors at the annual general meeting due to overseas commitments[106]. - The company has established a remuneration committee to review the compensation of directors and senior management[110]. - The company’s governance structure is designed to ensure a balance of power and responsibilities, with regular meetings to discuss operational matters[106]. Market Outlook - The National Development and Reform Commission's "14th Five-Year Plan" emphasizes the role of natural gas as a key clean energy source, indicating growth opportunities in the sector[94]. - OPEC forecasts a global oil demand increase of 3.36 million barrels per day in 2022, with average consumption expected to reach 102.9 million barrels per day, slightly above pre-pandemic levels[94]. - The group plans to leverage the recovery in the domestic oil and gas market in the second half of 2022 to enhance its competitiveness in the energy sector[95].