| --- | --- | |-------|-----------------------------------------------------------------------------------------------------| | | | | | 財務摘要 | | • | 收益增加約 21% 至人民幣 7,346.9 百萬元（二 零 二 二 年：約 人 民 幣 6,089.4 百 萬 元）。 | | • | 本公司權益股東應佔溢利增加約 139% 至人民幣 39.5 百萬元（二 零 二 二 年： 約人民幣 16.5 百 萬 元）。 | | | | | • | 每股基本盈利為人民幣 0.11 元（二 零 二 二 年：人 民 幣 0.04 元）。 | | • | 本公司董事不建議派付截至二零二三年十二月三十一日止年度的末期 股 息（二 零 二 二 年：無）。 | – 1 – 財務報表 眾誠能源控股有限公司（「本公司」）連同其附屬公司（統 稱「本集團」）董 事（「董 事」） 會（「董事會」）謹此宣佈本集團截至二零二三年十二月三十一日止年度的經審 核 綜 合 業 績，連 同 二 零 二 二 年 ...

一眾誠能源 (於開曼群島註冊成立之有限公司) 股份代號：2337 2023 中 期 報 告 ( 目錄 4 | --- | --- | --- | |--------------------------|-------|-------| | | | | | 財務摘要 | | | | 綜合損益表 | | | | 綜合損益及其他全面收益表 | | | | 綜合財務狀況表 | | | | 綜合權益變動表 | | | | 簡明綜合現金流量表 | | | | 未經審核中期財務報告附註 | | | | | | | | 獨立審閱報告 | | | | 管理層討論及分析 | | | | 其他資料 | | | | | | | 公司資料 2 F 016 公司資料 註冊辦事處 授權代表 薪酬委員會成員 張志峰先生（主席） 劉英武先生 蘇丹女士 提名委員會成員 蘇丹女士（主席） 徐輝林先生 張志峰先生 董事會 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 非執行董事 徐輝林先生 獨立非執行董事 蘇丹女士 張志峰先生 劉英傑先生 公司秘書 盧偉傑先生，ACCA、FCPA、CFA 徐輝林先生 盧偉傑先生 目前， ...

Financial Performance - For the six months ended June 30, 2023, revenue increased by approximately 19% to approximately RMB 3,184.0 million, compared to RMB 2,681.8 million for the same period in 2022[23]. - Profit attributable to equity shareholders increased by approximately 12% to approximately RMB 6.4 million for the six months ended June 30, 2023, compared to RMB 5.7 million for the same period in 2022[23]. - The sales of refined oil and natural gas amounted to RMB 3,150,615 thousand for the six months ended June 30, 2023, compared to RMB 2,650,380 thousand for the same period in 2022[13]. - The company reported a total income from transportation services of RMB 33,387 thousand for the six months ended June 30, 2023, compared to RMB 31,370 thousand for the same period in 2022[13]. - Total comprehensive income for the period was RMB 10,345 million, a decrease of 15.5% from RMB 12,265 million in the previous year[102]. - Revenue from reportable segments was RMB 3,184,044 thousand, up 18.7% from RMB 2,681,756 thousand in the previous year[114]. - Gross profit from reportable segments was RMB 172,608 thousand, slightly down from RMB 176,804 thousand in the previous year[114]. - Operating profit for the period was RMB 10,577 thousand, a decrease of 15.6% from RMB 12,528 thousand in the previous year[114]. - Net profit attributable to equity shareholders was RMB 6,433 thousand, compared to RMB 5,708 thousand in the previous year, reflecting a growth of 12.7%[118]. Sales and Consumption - The sales revenue from refined oil reached approximately RMB 3,021.1 million, up about 18%, accounting for 95% of total revenue during the same period[35]. - Natural gas sales recorded revenue of approximately RMB 129.6 million, an increase of about 49%, accounting for about 4% of total revenue[44]. - The company's natural gas consumption increased by 5.6% year-on-year to 194.1 billion cubic meters in the first half of 2023, while domestic production grew by 5.4% to 115.5 billion cubic meters[42]. - The total natural gas import volume increased by 5.8% to 79.4 billion cubic meters, including 33.2 billion cubic meters of pipeline gas and 46.2 billion cubic meters of liquefied natural gas[42]. - The company's sales volume of refined oil was approximately 400,000 tons, a year-on-year increase of about 23% from 325,000 tons in the same period last year[35]. - Natural gas imports in China increased by 6.8% year-on-year in the first half of 2023, driven by lower international spot prices and increased supply from Russia[148]. Expenses and Liabilities - The total expenses for salaries, wages, and other benefits increased to RMB 81,671 thousand for the six months ended June 30, 2023, from RMB 74,959 thousand for the same period in 2022[20]. - The sales cost increased by approximately 20% to about RMB 3,011.4 million, up from RMB 2,505.0 million in the same period last year, due to increased sales volume[47]. - Employee costs amounted to approximately RMB 81.7 million, an increase of about RMB 6.7 million compared to RMB 75.0 million in the same period last year[49]. - Total non-current liabilities amounted to RMB 315,832 thousand as of June 30, 2023, compared to RMB 268,860 thousand as of December 31, 2022[6]. - The company has a total short-term loan of RMB 270.75 million, which represents 84% of total borrowings, while long-term loans account for RMB 52.5 million, or 16%[54]. - The group’s total inventory cost was RMB 2,998.6 million for the six months ended June 30, 2023, compared to RMB 2,493.7 million for the same period in 2022[167]. - The group’s interest expenses for bank and other loans were RMB 4.3 million for the six months ended June 30, 2023, down from RMB 4.8 million in the same period of 2022[166]. Assets and Equity - The net asset value increased to RMB 477,864 thousand as of June 30, 2023, from RMB 467,624 thousand as of December 31, 2022[6]. - The total equity attributable to equity shareholders was RMB 438,417 thousand as of June 30, 2023, compared to RMB 428,684 thousand as of December 31, 2022[6]. - Total assets remained stable at approximately RMB 1,454.4 million, while total equity increased by about 2% to approximately RMB 477.9 million[74]. - As of June 30, 2023, non-current assets totaled RMB 615,923 thousand, a decrease of 1.0% from RMB 622,457 thousand as of December 31, 2022[125]. - Current assets amounted to RMB 838,512 thousand, down 10.1% from RMB 932,997 thousand at the end of 2022[125]. - Total liabilities decreased to RMB 660,739 thousand, down 19.3% from RMB 818,970 thousand[125]. Future Outlook and Strategy - The company is considering expanding its charging pile business to meet the growing demand for new energy vehicles, following a 137% year-on-year increase in sales of new energy vehicles in China during the first half of 2023[61]. - The company anticipates a recovery in natural gas consumption in China, projected to increase by 5% to 7% for the year 2023[60]. - The company anticipates a 7.2% year-on-year increase in natural gas apparent consumption for the entire year of 2023, according to estimates from Jinlianchuang[82]. - Natural gas production in China is expected to grow by 5.2% year-on-year in 2023, supported by the annual production targets of major gas fields[82]. - The group aims to optimize natural gas and oil distribution and transportation businesses in response to the domestic economic recovery in the second half of the year[197]. Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance with the regulations as of June 30, 2023[65]. - The company has adhered to the corporate governance code as per the listing rules, with the board believing that having the same person serve as both chairman and CEO can provide strong and consistent leadership[198]. - The audit committee, established in September 2017, is responsible for reviewing the group's financial reporting and risk management[199]. - The company has maintained sufficient public shareholding since its initial public offering[200]. Employee and Operational Insights - The group has 1,551 employees as of June 30, 2023, and complies with applicable laws and regulations regarding employee benefits[192]. - Operating expenses increased by approximately RMB 7.9 million or 28% to about RMB 36.2 million due to the recovery of economic activities post-COVID-19[71]. - The company has not engaged in significant investments, acquisitions, or sales during the six months ending June 30, 2023[193].

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]

Financial Performance - Revenue increased by approximately 4% to RMB 6,089.4 million (2021: RMB 5,830.1 million) [1] - Profit attributable to equity shareholders decreased by approximately 91% to RMB 16.5 million (2021: RMB 176.6 million) [1] - Basic earnings per share were RMB 0.04 (2021: RMB 0.47) [1] - Operating profit decreased to RMB 86.96 million from RMB 293.02 million [15] - Total comprehensive income for the year was RMB 27.23 million, down from RMB 180.38 million [16] - The total revenue for the group for the year ended December 31, 2022, was RMB 6,089,366, compared to RMB 5,830,081 in 2021, indicating an overall increase of 4.4% [27] - The gross profit for the reportable segments in 2022 was RMB 393,102 thousand, down from RMB 612,724 thousand in 2021, indicating a decline of about 35.8% [57] - The group's net profit for 2022 was RMB 19.0 million, a decrease of RMB 162.9 million compared to RMB 181.9 million in 2021 [145] Revenue Sources - The group's revenue from the sale of refined oil and natural gas for the year ended December 31, 2022, was RMB 6,031,596, an increase of 4.5% from RMB 5,774,576 in 2021 [27] - Revenue from transportation services amounted to RMB 57,722, up from RMB 54,353 in the previous year, reflecting a growth of 6.5% [27] - The total sales revenue from refined oil reached approximately RMB 5,819.5 million, representing a year-on-year increase of about 5%, while the sales volume decreased by approximately 13% to 725,000 tons compared to 836,000 tons in the previous year [81] - The sales revenue from natural gas was RMB 212.2 million in 2022, a decrease of 10% year-on-year, accounting for 3% of total revenue, with compressed natural gas sales volume dropping 21% to 45.6 million cubic meters [109] Assets and Liabilities - Trade receivables increased to RMB 67.99 million from RMB 38.35 million [4] - Cash and cash equivalents rose to RMB 138.65 million from RMB 101.77 million [4] - Non-current assets decreased to RMB 622.46 million from RMB 720.01 million [4] - Current liabilities increased to RMB 818.97 million from RMB 737.59 million [4] - As of December 31, 2022, total assets increased by 1% to RMB 1,555.5 million, while total equity rose by 4% to RMB 467.6 million [118] - The company's financial liabilities measured at amortized cost for contract liabilities related to prepaid amounts from customers reached RMB 145,788 thousand, up from RMB 80,783 thousand, indicating an increase of approximately 80% [70] Costs and Expenses - The total operating expenses for 2022 were RMB 78,162 thousand, reduced from RMB 98,484 thousand in 2021, showing a decrease of approximately 20.6% [57] - The total employee costs for 2022 were RMB 154,857 thousand, down from RMB 161,686 thousand in 2021, indicating a reduction of approximately 4.5% [60] - In 2022, the group's sales cost increased by 9% to RMB 5,696.3 million from RMB 5,217.4 million in 2021, primarily due to higher procurement unit costs [112] - Employee costs decreased to RMB 154.9 million in 2022 from RMB 161.7 million in 2021, primarily due to a reduction in employee numbers and average salaries [141] Government and Regulatory Matters - The company received government grants amounting to RMB 2,345 thousand in 2022, while there were no such grants in 2021 [58] - The group has not applied any new standards or interpretations that have not yet come into effect during the current accounting period [25] - The group's financial statements comply with all applicable International Financial Reporting Standards and the disclosure requirements of the Hong Kong Companies Ordinance [25] Market and Operational Insights - The company operates gas stations and storage facilities for retailing petroleum and natural gas [21] - The group has diversified its customer base, with no single customer accounting for more than 10% of total revenue in 2022 [27] - The company has entered into procurement contracts with multiple suppliers to mitigate the impact of potential crude oil price increases and shortages [67] - The company is positioned in the region with the highest natural gas consumption in the country, which has impacted its business growth to some extent [77] - The group expects all trade receivables and notes receivable (net of impairment losses) to be collected within one year [90] Future Outlook and Strategy - The group plans to expand its oil and gas station network with an allocation of RMB 50 million expected to be utilized by the end of 2023 [150] - The domestic oil demand is expected to significantly recover starting from Q2 2023, according to the China Petroleum Group Economic and Technical Research Institute [181] - The central government plans to strengthen domestic exploration and development of important energy resources in 2023, which is expected to stabilize oil and gas prices and reduce price volatility [161] Risks and Challenges - The group identified various risks, including fluctuations in procurement prices for refined oil and natural gas, which could significantly impact profitability if not managed effectively [129] - The group is facing supply risks due to reliance on large state-owned enterprises and foreign oil suppliers for stable fuel supply [179] - The company relies on upstream suppliers for natural gas, which can lead to limited bargaining power and potential supply shortages during periods of price volatility [157]

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].

Financial Performance - The company's revenue for the year 2021 was RMB 5,830,081,000, a significant increase of 67.4% compared to RMB 3,481,322,000 in 2020[20] - Gross profit for 2021 was RMB 612,724,000, with a gross margin of 11%, down from 14% in 2020[20] - Net profit attributable to equity shareholders was RMB 176,620,000, representing a 43.3% increase from RMB 123,283,000 in the previous year[20] - The total assets of the company reached RMB 1,544,375,000, up from RMB 1,273,135,000 in 2020[20] - The company achieved an operating profit of RMB 293,000,000 for the year[25] - The company recorded revenue of RMB 5,830.1 million, an increase of RMB 2,348.8 million or 67% compared to RMB 3,481.3 million in 2020[36] - The sales volume of finished oil reached approximately 836,000 tons in 2021, up about 27% from approximately 656,000 tons in 2020[36] - The company’s finished oil sales revenue was RMB 5,539.3 million, representing a year-on-year increase of approximately 72% and accounting for about 95% of total revenue[36] - Natural gas sales revenue was RMB 236.4 million, a 13% increase year-on-year, contributing 4% to total revenue[37] - The company’s net profit for 2021 was RMB 181.9 million, an increase of RMB 57.5 million compared to RMB 124.4 million in 2020[47] Market and Industry Trends - In 2022, global energy demand is expected to rise as major economies recover from the pandemic[26] - China's natural gas production reached approximately 205.1 billion cubic meters in 2021, a year-on-year increase of 7.72%[23] - In 2021, China's natural gas production reached 205.3 billion cubic meters, an increase of 8.2% year-on-year, marking five consecutive years of production growth exceeding 10 billion cubic meters[30] - Natural gas imports totaled 12 million tons in 2021, reflecting a year-on-year increase of 19.9%[30] - The apparent consumption of natural gas reached 372.6 billion cubic meters, up 12.7% year-on-year, continuing the positive growth trend from the 13th Five-Year Plan period[30] - In 2021, China's oil consumption reached 34.148 million tons, a year-on-year growth of 3.2%, nearly recovering to pre-pandemic levels[31] - The sales volume of new energy vehicles in China exceeded 3.5 million units in 2021, with a market share increase to 13.4%[33] - The global oil price saw a significant increase, with Brent crude oil closing at $77.78 per barrel at the end of 2021, up over 50% from 2020, marking the largest annual increase in five years[31] Strategic Initiatives - The company expanded its compressed natural gas refueling station network, benefiting from national policy support, leading to increased competitiveness[25] - The company successfully acquired Hengyong Global Investment Limited, which expanded its fuel retail and wholesale business, providing new revenue sources[25] - The company plans to actively seek strategic partnerships, acquisitions, and explore opportunities in the new energy sector to enhance its diversified layout in the energy era[27] - The company aims to leverage its long-standing presence in the Northeast energy market to enhance core competitiveness and diversify revenue sources[27] - The acquisition of Hengyong Global in August 2020 has diversified the company's operations into fuel retail, oil wholesale, and transportation services, enhancing market competitiveness[62] - The company aims to leverage synergies between its existing natural gas refueling business and the newly acquired fuel retail and oil transportation businesses[62] Corporate Governance - The company maintained high standards of corporate governance to protect shareholder interests and enhance corporate value[65] - The board consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors[65] - The company held four board meetings in 2021, with all directors attending all meetings[69] - The chairman and CEO roles are held by the same individual, Zhao Jinmin, to provide strong and consistent leadership[68] - The company has adopted the corporate governance code and has complied with all applicable provisions for the year ended December 31, 2021, except for certain exceptions[65] - The independent non-executive directors were unable to attend the annual general meeting due to overseas commitments[65] - The company has service contracts with executive directors, with terms starting from April 1, 2017, and specific terms for other directors[67] - The board regularly reviews and improves its corporate governance practices to ensure compliance with the corporate governance code[65] Environmental, Social, and Governance (ESG) Practices - The company is committed to integrating sustainable development values into its long-term business strategy while pursuing economic returns[98] - The company has established a central safety committee responsible for overseeing ESG-related matters, including occupational safety and health policies[108] - The board of directors supervises ESG matters and ensures effective communication across management levels to implement sustainable development policies[107] - The company aims to enhance its supply chain resilience and achieve orderly development in the natural gas industry to meet the "dual carbon" goals and contribute to a "Beautiful China"[98] - The company emphasizes the importance of effective communication with shareholders, holding the annual general meeting on June 11, 2021, with at least 20 business days' notice provided[91] - The company has established a website to keep investors updated on financial information and corporate governance practices, enhancing transparency and investor relations[92] - The company conducted an annual ESG materiality assessment survey to identify key ESG issues and effectively communicate with stakeholders[104] - The report quantifies greenhouse gas emissions and resource consumption, providing detailed metrics on environmental and social performance[104] Employee Management and Development - The company has a total of 1,768 employees as of December 31, 2021[56] - The employee turnover rate for the fiscal year 2021 was 12.2%[158] - The company adheres to local employment laws and has established internal policies for attendance and leave management[162] - The company has implemented a transparent recruitment process, ensuring fairness and competitiveness in hiring[157] - The company has conducted multiple recruitment activities in 2021 to attract talent and enhance its employer brand[157] - The company emphasizes equal opportunity and anti-discrimination in all HR and employment decisions, ensuring a fair and diverse work environment[163] - The company achieved a training participation rate of 99.0% among its total workforce of 1,750 employees[175] - The average training hours for male employees was 24.4 hours, while female employees averaged 24.7 hours in fiscal year 2021[176] Safety and Health Management - The company strictly implemented internal safety and health policies in FY2021, adhering to various safety management regulations and Chinese laws[165] - The company established a central safety committee to oversee the implementation of safety policies across all business sectors[165] - In FY2021, the company conducted various occupational safety and health training sessions, requiring all units to include occupational disease knowledge in their annual plans[166] - The company has a strict emergency response plan for unexpected situations, with a dedicated emergency response team responsible for handling incidents[167] - The company has implemented a reward and punishment system regarding safety and health issues, with severe penalties for violations[166] Supplier and Procurement Management - The company collaborates with a total of 475 suppliers, all located in mainland China, with 424 suppliers in the province where the company operates[186] - The company adheres to a green procurement policy, which covers approximately 90% of its procurement products, aiming to reduce environmental impact during the supply chain management process[186] - The procurement process includes rigorous supplier evaluation based on quality management systems and technical capabilities[180] - The company implements a comprehensive risk assessment for suppliers, including on-site visits and market research[180] - The company prioritizes local suppliers to minimize environmental pollution during transportation[186] Customer Relations and Service Quality - The company aims to maintain a customer satisfaction rate of 90% through quality control and service excellence in its gas stations and refueling services[188] - In the fiscal year 2021, the company received three customer complaints, all of which were properly handled and resolved[197] - The company has implemented a customer complaint management system to enhance the efficiency of handling customer feedback and improve service standards[190] - The company has adjusted its service standards during the pandemic, providing free disinfection services and ensuring employee safety through protective equipment[196]

Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 2,291,301 thousand, representing a 41% increase from RMB 1,625,571 thousand in the same period of 2020[5] - Gross profit for the same period was RMB 327,150 thousand, up from RMB 210,555 thousand, resulting in a gross margin of 14% compared to 13% in 2020[5] - Net profit for the period was RMB 115,956 thousand, significantly higher than RMB 49,490 thousand in the prior year, marking a 134% increase[5] - Profit attributable to equity shareholders was RMB 113,502 thousand, compared to RMB 50,848 thousand in the previous year, reflecting a substantial growth[5] - Operating profit for the six months was RMB 175,464 thousand, compared to RMB 84,958 thousand in the same period of 2020[8] - The total comprehensive income for the period was RMB 116,116 thousand, significantly higher than RMB 50,632 thousand in the prior year[10] - The company reported a basic and diluted earnings per share of RMB 0.30 for the first half of 2021, compared to RMB 0.15 in the same period of 2020[8] - The company reported a profit of RMB 50,848 thousand for the six months ended June 30, 2021, compared to a loss in the previous period[15] - Comprehensive income for the period totaled RMB 52,016 thousand, demonstrating a significant recovery from previous losses[15] - The net profit before tax for the six months ended June 30, 2021, was RMB 157,427,000, significantly higher than RMB 67,317,000 for the same period in 2020, reflecting an increase of approximately 133.3%[33] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 1,395,927 thousand, an increase from RMB 1,273,135 thousand at the end of 2020[6] - The company’s net assets increased to RMB 384,393 thousand as of June 30, 2021, from RMB 285,109 thousand at the end of 2020[6] - As of June 30, 2021, total non-current assets amounted to RMB 720,881 thousand, slightly down from RMB 722,867 thousand as of December 31, 2020[12] - Current assets increased to RMB 675,046 thousand from RMB 550,268 thousand, with inventory rising significantly to RMB 140,891 thousand from RMB 111,976 thousand[12] - Current liabilities decreased to RMB 623,301 thousand from RMB 621,075 thousand, with trade payables slightly down to RMB 87,556 thousand from RMB 90,139 thousand[12] - Non-current liabilities rose to RMB 388,233 thousand from RMB 366,951 thousand, primarily due to an increase in lease liabilities[12] - The total equity attributable to shareholders increased to RMB 350,414 thousand from RMB 253,605 thousand, indicating a robust financial position[13] - Total assets less current liabilities increased to RMB 772,626 thousand from RMB 652,060 thousand[12] Cash Flow - Cash generated from operating activities was RMB 91,251,000, a decrease of 62.5% from RMB 243,479,000 in the same period last year[17] - The net cash from operating activities was RMB 52,182,000, down 76.1% from RMB 218,334,000 in the previous year[17] - The company incurred a net cash outflow from investing activities of RMB 7,015,000, compared to RMB 19,037,000 in the same period last year[17] - The net cash used in financing activities was RMB 83,641,000, a decrease of 29.0% from RMB 117,887,000 in the previous year[17] - As of June 30, 2021, cash and cash equivalents decreased to RMB 73,113,000 from RMB 147,856,000 at the beginning of the period[17] Revenue Breakdown - Revenue from retail sales of refined oil and natural gas was RMB 2,265,700 thousand, up from RMB 1,600,586 thousand, indicating a growth of 41.4%[27] - Revenue from transportation services amounted to RMB 24,620 thousand, an increase from RMB 19,645 thousand, reflecting a growth of 25.3%[27] - The sales revenue from refined oil reached approximately RMB 2,160.7 million, up approximately 44%, accounting for 94% of total revenue during the same period[74] - Natural gas sales revenue was approximately RMB 106.0 million, a year-on-year increase of about 5%, representing about 5% of total revenue[75] Employee and Operational Costs - Employee costs rose to RMB 77,980,000 in the first half of 2021, compared to RMB 65,499,000 in the same period of 2020, which is an increase of approximately 18.9%[37] - The total depreciation expenses for the first half of 2021 amounted to RMB 40,557,000, up from RMB 34,819,000 in the same period of 2020, indicating an increase of approximately 16.4%[36] - Financing costs increased to approximately RMB 18.7 million for the six months ended June 30, 2021, from RMB 9.1 million in the same period of 2020[85] Shareholder Information - As of June 30, 2021, Mr. Zhao holds 209,829,240 shares, representing 56.03% of the company's equity[104] - Major shareholders include Golden Truth with 56.03% and Rui Shan with 19.17% of the company's equity[108] - The company has a share option plan allowing for the issuance of up to 10% of the total issued shares, equivalent to 23,450,200 shares[111] - The total number of shares that may be issued upon the exercise of all outstanding options cannot exceed 30% of the total issued shares[111] Corporate Governance - The company has complied with all provisions of the corporate governance code during the reporting period, with exceptions noted for attendance at the annual general meeting[113] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2021, and confirmed compliance with applicable accounting standards[114] - The remuneration committee is responsible for reviewing the remuneration of directors and senior management, with current members including both executive and independent non-executive directors[115] - The nomination committee is tasked with reviewing the board's structure and identifying suitable candidates for board membership[116]

Financial Performance - Total revenue for the year 2020 was RMB 3,481.3 million, a decrease of 12% from RMB 3,953.3 million in 2019[5] - Gross profit for 2020 was RMB 470.3 million, resulting in a gross margin of 14%, compared to 13% in 2019[5] - Net profit attributable to shareholders for 2020 was RMB 123.3 million, down from RMB 135.6 million in 2019[5] - The company reported an operating profit of RMB 207.9 million during the reporting period despite challenging market conditions[7] - The company’s basic and diluted earnings per share for 2020 were RMB 0.35, down from RMB 0.41 in 2019[5] - The group's profit before tax decreased by RMB 20.7 million to RMB 170.8 million in 2020, compared to RMB 191.5 million in 2019[22] - Net profit for 2020 was RMB 124.4 million, a decrease of RMB 14.0 million from RMB 138.4 million in 2019[22] - Total assets increased to RMB 1,273.1 million in 2020 from RMB 1,056.0 million in 2019[5] - The debt ratio increased to 77% as of December 31, 2020, up from 74% in 2019, primarily due to the acquisition of Hengyong Global[24] Acquisitions and Strategic Partnerships - The company completed the acquisition of Hengyong Global Investment Limited, enhancing its market presence in the northeastern region of China[8] - Following the acquisition of Hengyong Global, the company officially entered the fuel business, diversifying its revenue sources[10] - The acquisition is expected to create synergies between Hengyong's oil business and the company's existing gas business, enhancing competitiveness in the energy sector[16] - The strategic cooperation framework agreement with Sen Tian Group aims to explore potential projects in oil and gas retail and wholesale transportation and storage[8] - The company is actively seeking strategic partnerships and acquisitions to strengthen its fuel and gas business, leveraging synergies between business segments[10] Market Outlook and Industry Trends - The outlook for 2021 indicates a mix of challenges and opportunities in the domestic energy sector amid ongoing economic uncertainties[9] - The global natural gas consumption decreased by 4% year-on-year in 2020, but the market showed signs of recovery in the second half of the year as countries eased pandemic restrictions[11] - In 2020, China's automobile sales reached 25.31 million units, maintaining its position as the world's largest market, with a 10.9% year-on-year increase in new energy vehicle sales[14] - The International Energy Agency forecasts a 21% increase in global liquefied natural gas trade from 2019 to 2025, with China expected to surpass Japan as the world's largest liquefied natural gas buyer by 2023[36] - The International Energy Agency predicts a significant rebound in oil demand in 2021, driven by the recovery of the domestic automotive industry, which will create growth opportunities in the oil and gas sales market[37] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes the importance of ESG management, actively engaging stakeholders and implementing feedback mechanisms to improve sustainability practices[68] - The company reported a commitment to integrating sustainable development values into its long-term business strategy while pursuing economic returns[66] - The company is focused on quantifying its ESG performance, including greenhouse gas emissions and resource consumption metrics for the fiscal year 2020[74] - The company aims to explore and apply environmentally friendly technologies while pursuing business returns[70] - The group has established a comprehensive management framework and risk management system to integrate ESG risk management with corporate governance[76] - The board of directors is responsible for overseeing ESG-related matters and ensuring effective communication across all levels of management[77] Employee and Workplace Safety - The company emphasizes the importance of employee health and safety, aiming for a "zero accident" safety performance and actively identifying and controlling occupational health risks[84] - The company has implemented strict safety and health policies, including the "Safety Management Regulations" and "Safety Management Red Line" to ensure compliance with national laws[130] - All new employees are required to undergo a series of safety training before starting work, focusing on occupational health laws and emergency response measures[134] - The company conducts annual health check-ups for all employees, with results documented in employee health records[134] - In fiscal year 2020, the company reported a total of 370 workdays lost due to work-related injuries, indicating a focus on workplace safety[136] Community Engagement and Social Responsibility - The company actively participated in community service, providing essential supplies to underprivileged residents and supporting local educational initiatives[165] - The company donated a total of over 30,000 yuan worth of anti-epidemic supplies, including 18,500 masks and 8,500 pairs of disposable gloves during the pandemic[166] - The company emphasized its commitment to social responsibility and community well-being during the pandemic[167] - The company has been involved in various community activities to understand local needs and ensure business operations consider community interests[176] Risk Management and Compliance - The company undertakes various risks, including business, financial, compliance, and operational risks, and has implemented measures to control and mitigate these risks[54] - The company has established a risk management framework to identify, assess, and respond to significant business risks, ensuring effective use of resources to achieve business objectives[54] - The company adheres to local anti-corruption laws and implemented strict anti-bribery policies, ensuring transparent transaction processes[163] - The company has not encountered any legal cases related to corruption or violations of anti-bribery laws during the fiscal year[164] Operational Efficiency and Technology - The company implemented the V20 project for automated data extraction and information management in oil product transactions, enhancing operational efficiency and reducing environmental impact[162] - The company has adopted innovative technologies to reduce nitrogen oxides in exhaust emissions, contributing to improved air quality[101] - The company has focused on optimizing logistics management to minimize environmental impact through better route selection and maintenance of transport vehicles[114] Financial Management and Governance - The board of directors is committed to presenting a comprehensive annual report that reflects the company's financial health and operational strategies[187] - The proposed final dividend for the year ended December 31, 2020, is HKD 0.0534 per ordinary share, totaling HKD 20 million[190] - As of December 31, 2020, the company's distributable reserves amount to approximately RMB 685.6 million, which includes a share premium of RMB 719.5 million and accumulated losses of RMB 33.9 million[193]

Financial Performance - Revenue for the six months ended June 30, 2020, was RMB 127,234 thousand, a decrease of 34.7% compared to RMB 194,954 thousand for the same period in 2019[7] - Gross profit for the same period was RMB 61,821 thousand, resulting in a gross margin of 49%, up from 41% in 2019[7] - Net profit for the six months was RMB 2,753 thousand, a decline of 85.3% from RMB 18,663 thousand in 2019[8] - Earnings per share (basic and diluted) decreased to RMB 0.01 from RMB 0.08 in the previous year[8] - The company reported a total comprehensive income of RMB 4,092 thousand for the period, down from RMB 18,648 thousand in 2019[11] - The company reported a profit of RMB 3,287 thousand for the six months ended June 30, 2020, compared to a profit of RMB 16,949 thousand for the same period in 2019, indicating a decrease of approximately 80.6%[15] - The total comprehensive income for the period was RMB 4,092 thousand, down from RMB 18,397 thousand in the previous year, representing a decrease of approximately 77.8%[15] Assets and Liabilities - Total assets as of June 30, 2020, were RMB 424,811 thousand, slightly down from RMB 427,670 thousand at the end of 2019[7] - Total liabilities increased to RMB 125,214 thousand from RMB 76,419 thousand, indicating a rise of about 64%[12] - The company's net assets decreased to RMB 260,725 thousand from RMB 274,762 thousand, a decline of approximately 5.1%[13] - The total equity attributable to shareholders decreased to RMB 255,146 thousand from RMB 268,349 thousand, reflecting a decrease of about 4.9%[13] - Current assets decreased to RMB 184,224 thousand from RMB 190,885 thousand, representing a decline of about 3.9%[12] - Cash and cash equivalents significantly increased to RMB 135,327 thousand from RMB 57,474 thousand, marking an increase of approximately 135.5%[12] Cash Flow - For the six months ended June 30, 2020, the net cash generated from operating activities was RMB 99,397,000, an increase of 78.0% compared to RMB 55,909,000 in 2019[16] - The net cash used in investing activities was RMB (9,184,000), significantly improved from RMB (73,897,000) in the previous year[16] - The net cash used in financing activities was RMB (13,117,000), a decrease from RMB 31,138,000 in 2019[16] - The total cash and cash equivalents as of June 30, 2020, were RMB 135,327,000, compared to RMB 141,439,000 at the end of the previous year[16] Revenue Breakdown - Revenue from the sale of natural gas through gas stations was RMB 95,361,000, a decrease of 40.0% from RMB 158,706,000 in 2019[24] - Revenue from transportation services was RMB 26,533,000, down 17.9% from RMB 32,096,000 in 2019[24] - Reportable segment revenue for gas sales was RMB 101,368,000, and for transportation services was RMB 31,172,000, totaling RMB 132,540,000 for the first half of 2020[28] - In the first half of 2020, the company's natural gas sales revenue was approximately RMB 100.7 million, a year-on-year decrease of about 38%, accounting for approximately 79% of total revenue during the same period[70] - Transportation services generated revenue of approximately RMB 26.5 million, a year-on-year decrease of about 17%, accounting for approximately 21% of total revenue[73] Cost and Expenses - The cost of sales decreased by approximately 43% to about RMB 65.4 million, down from approximately RMB 115.4 million in the same period of 2019, due to a reduction in total product procurement[75] - Employee costs decreased to RMB 23,288,000 for the six months ended June 30, 2020, from RMB 25,231,000 in 2019, a reduction of about 7.7%[35] - Financing costs increased to RMB 4,189,000 in the first half of 2020, compared to RMB 2,900,000 in the same period of 2019, marking an increase of approximately 44.4%[34] - Income tax expenses decreased by approximately RMB 4.7 million or about 55% to approximately RMB 3.8 million, primarily due to the decline in pre-tax profit[83] Dividends and Shareholder Information - The company declared dividends amounting to RMB 17,855 thousand, which was paid out during the period[15] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2020, remaining at zero, consistent with the previous year[55] - The company approved a final dividend of HKD 0.0853 per share for the last fiscal year, totaling RMB 17,855,000, an increase from RMB 17,465,000 in the previous year[56] - Major shareholder Golden Truth holds 201,928,240 shares, representing 86.10% of the company's equity[102] Acquisition and Market Position - The acquisition of the entire issued share capital of Hengyong Global Investment Limited for the gas station business was approved, with a total consideration of HKD 650,000,000, including cash of HKD 150,000,000[64] - The acquisition of Hengyong Global, completed on August 24, 2020, positions the company as the largest private gas station operator in Northeast China, capturing approximately 1.1% of the total market share in the region[97] - The company aims to strengthen its market position in compressed natural gas stations in Jilin Province and expand its liquefied natural gas business, leveraging local policy support and resources[97] Operational Measures and Future Outlook - The company has implemented various measures to manage cash flow and ensure adequate natural gas supply in response to the pandemic[61] - The domestic economy is gradually recovering, leading to a rebound in natural gas demand, which is expected to maintain stable growth in the future[68] - The demand for natural gas as a clean energy source is expected to continue rising, with projections indicating that the number of natural gas vehicles in China will exceed 10 million by the end of 2020[95] - The natural gas industry is expected to benefit from declining prices, which will stimulate demand for natural gas vehicles and increase overall consumption[95] Corporate Governance and Compliance - The company has complied with the corporate governance code, except for the absence of some independent non-executive directors at the annual general meeting[108] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2020[109] - The remuneration committee is responsible for reviewing the compensation of directors and senior management[110]