Core Viewpoint - The company, Jinyuan Hydrogenation (02502.HK), has announced a board meeting scheduled for August 26, 2025, to consider and approve its unaudited interim results for the six months ending June 30, 2025, and to consider the distribution of an interim dividend if appropriate [1] Group 1 - The board meeting will focus on the approval of the company's interim performance [1] - The meeting will also consider the potential distribution of an interim dividend [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部份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。 河南金源氫化化工股份有限公司 HENAN JINYUAN HYDROGENATED CHEMICALS CO., LTD.* （於中華人民共和國成立的股份有限公司） （股份代號：2502） 香港，2025年8月8日 截至本公告日期，本公司執行董事為王增光先生及喬二偉先生；本公司非執行董 事為饒朝暉先生、汪開保先生及王利杰先生；及本公司獨立非執行董事為黃欣琪 女士、邸志崗先生及梁善盈女士。 * 僅供識別 1. 分別考慮及批准（如合適）本公司及其附屬公司截至2025年6月30日止六個月 的未經審核中期業績，以及將刊登於香港聯合交易所有限公司及本公司網頁 的未經審核中期業績公告； 2. 考慮及批准（如合適）派發中期股息（如有）；及 3. 處理其他事項。 承董事會命 河南金源氫化化工股份有限公司 王增光 執行董事 董事會會議通告 河南金源氫化化工股份有限公司（「本公司」）謹此宣佈，本公司謹訂於2025年8月 26 ...

本公司董事认为上述事项对本集团的财务状况及营运并无任何重大影响。 金马能源(02502)发布公告，如金马能源更新公告所载，根据金马焦化告知，金马焦化已于2025年8月5 日向北京潍港新能源有限公司(北京潍港)发出有关该公告所披露买卖目标股份的终止通知书，金马焦化 向北京潍港出售目标股份将不会继续进行。因此，据金马能源所知，饶先生继续间接拥有金马焦化 100%权益，而金马焦化全资持有金马香港，金马香港则持有金马能源1.62亿股股份，约占金马能源股 本的30.26%。金马能源进一步获金马焦化通知，北京潍港仍拟与金马焦化就投资收购金马香港或其控 股公司的少数股权进行商议，意向为金马焦化继续为金马能源的控股股东。 ...

Core Viewpoint - Jinma Energy (02502) announced the termination of the sale of target shares to Beijing Weigang New Energy Co., Ltd, indicating that Mr. Rao continues to indirectly own 100% of Jinma Coking [1] Group 1 - Jinma Coking issued a termination notice regarding the sale of target shares to Beijing Weigang on August 5, 2025 [1] - Jinma Coking remains the controlling shareholder of Jinma Energy, holding approximately 30.26% of Jinma Energy's share capital through its subsidiary Jinma Hong Kong, which owns 162 million shares [1] - The board of the company believes that the termination of the sale will not have any significant impact on the financial status and operations of the group [1] Group 2 - Beijing Weigang intends to continue discussions with Jinma Coking regarding the investment acquisition of minority stakes in Jinma Hong Kong or its holding companies [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 河南金源氫化化工股份有限公司 HENAN JINYUAN HYDROGENATED CHEMICALS CO., LTD.* （於中華人民共和國註冊成立的股份有限公司） （股票代號：2502） 內幕消息 河南金源氫化化工股份有限公司（「本公司」，連同其附屬公司統稱「本集團」）根據 香港法例第571章《證券及期貨條例》第XIVA部的內幕消息條文及香港聯合交易所 有限公司證券上市規則第13.09(2)(a)條作出本公告。 茲提述本公司日期為2025年4月7日有關本公司一名控股股東可能變動股權的內幕 消息公告（「該公告」）。除非本公告另有界定，否則本公告所用詞彙與該公告所界 定者具相同涵義。 本公司董事會謹此提請本公司股東及潛在投資者注意，本公司控股股東金馬能源 於2025年8月5日刊發之公告（「金馬能源更新公告」）。 如金馬能源更新公告所載，根據金馬焦化告知，金馬焦化已於2025年8月5日向北 京濰港新能源 ...

截至月份: 2025年7月31日 狀態: 新提交 呈交日期: 2025年8月1日 致：香港交易及結算所有限公司 公司名稱: 河南金源氫化化工股份有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02502 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 955,640,000 | RMB | | 1 | RMB | | 955,640,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 955,640,000 | RMB | | 1 | RMB | | 955,640,000 | 本月底法定/註冊股本總額： RM ...

Core Viewpoint - Hydrogen fuel cell technology is rapidly developing with strong support from national policies, showcasing advantages such as low pollution, high efficiency, quick refueling, and long range, leading to its increasing application in the electric motorcycle sector [1][15]. Group 1: Market Overview - The global hydrogen motorcycle market is projected to reach approximately $0.9 million in 2024, with expectations to grow to $2 million by 2030 [1][15]. - In 2024, China's hydrogen production and consumption scale is expected to exceed 36.5 million tons, ranking first in the world [6]. Group 2: Industry Dynamics - Companies such as Zongshen, Tailg, and Ninebot have launched hydrogen fuel cell electric motorcycles, with some already moving beyond the concept stage to market introduction [1][17]. - Ninebot's Segway APEX H2 hybrid motorcycle was announced in April 2021 with a pre-sale price of 69,999 yuan, but it faced technical issues that prevented mass production [1][17]. Group 3: Technological Advantages - Hydrogen motorcycles offer significant advantages over traditional electric vehicles, including energy efficiency, convenience in refueling, and enhanced safety due to the use of solid-state hydrogen storage [2][4]. - The hydrogen fuel cell process generates energy without emitting pollutants, making it an environmentally friendly option [2]. Group 4: Policy Support - The Chinese government is enhancing its hydrogen energy policy framework, aiming to establish a comprehensive development environment for the hydrogen industry by 2025 [12][14]. - The introduction of standards for hydrogen fuel cell motorcycles is expected to lower R&D costs and accelerate technological advancements [14]. Group 5: Future Trends - The market acceptance of hydrogen motorcycles is anticipated to increase as production capacity expands and technology evolves, with a growing number of high-end consumers in addition to B2B clients [1][19]. - Local governments are increasingly willing to open road rights for hydrogen motorcycles, which will facilitate market order growth [19].

Financial Performance - In 2024, the company's revenue increased by approximately 58.2% compared to 2023, driven by a 7.8% rise in average product prices despite a 11.6% increase in raw material costs[29]. - The gross profit margin for the company decreased from 6.4% in 2023 to 2.3% in 2024, resulting in a loss of approximately RMB 16.0 million for the year[30]. - The average sales price of LNG fell by about 5.5%, but the gross profit margin for the LNG segment improved from approximately 13.4% in 2023 to about 16.1% in 2024 due to a 5.2% reduction in production costs[29]. - The average selling price of hydrogenated benzene chemicals increased from RMB 6,250.10 per ton in 2023 to RMB 6,734.73 per ton in 2024, representing an increase of approximately 7.7%[42]. - The average selling price of LNG decreased from RMB 4,439.95 per cubic meter in 2023 to RMB 4,197.57 per cubic meter in 2024, a decline of about 5.5%[42]. - The average procurement price of crude benzene rose from RMB 5,600.31 per ton in 2023 to RMB 6,249.04 per ton in 2024, an increase of approximately 11.6%[43]. - The company's pre-tax profit decreased from RMB 98.9 million in 2023 to RMB 12.0 million in 2024, reflecting the overall decline in profitability[57]. - Total comprehensive income fell from RMB 82.4 million in 2023 to RMB 11.9 million in 2024, with a significant drop in comprehensive income attributable to the company's owners[59]. - Cash flow from operating activities was RMB 96.9 million in 2024, down from RMB 104.5 million in 2023[63]. - The company reported a net cash outflow from investing activities of RMB 268.9 million in 2024, compared to RMB 71.1 million in 2023[63]. - The cash and cash equivalents at the end of 2024 were RMB 136.8 million, a decrease from RMB 300.7 million at the end of 2023[63]. Operational Developments - The company has established four hydrogen refueling stations and plans to build two more, continuing its strategy to fully enter the hydrogen energy industry chain[30]. - The hydrogen production base in Jiyuan, Henan Province, was officially approved to join the Zhengzhou fuel cell vehicle demonstration application city cluster[30]. - The company aims to enhance production efficiency and safety while investing in environmental protection to reduce production costs[30]. - The company has diversified its customer base across various sectors, including nylon, fertilizer, and LNG retail customers[35]. - The company completed the construction and commissioning of a 200,000-ton capacity expansion for hydrogenated phenolic chemicals in Q4 2023, with an expected production of approximately 353,683 tons in 2024[94]. - The company achieved a 5.2% improvement in production costs for LNG in 2024[95]. - The company operates two hydrogen refueling stations as of early 2024, with sales of 206.78 tons and 390.43 tons respectively, serving various heavy-duty vehicles[96]. Financial Management - The company's interest-bearing borrowings were approximately RMB 334.0 million and RMB 258.8 million as of December 31, 2024, and 2023, respectively[47]. - The financing costs for the company were approximately RMB 16.5 million in 2024, accounting for about 0.53% of total revenue[47]. - The company plans to adjust procurement and sales strategies in response to economic fluctuations, including reducing raw material purchases during downturns[37]. - The company acquired a coking gas facility from Jinma Group in August 2023 to diversify raw material sources and reduce dependency[45]. - Financing costs increased from RMB 6.1 million in 2023 to RMB 16.5 million in 2024, primarily due to increased interest on loans for production capacity expansion[55]. - As of December 31, 2024, total bank borrowings amounted to RMB 334.0 million, an increase of RMB 75.3 million compared to RMB 258.8 million in 2023[68]. - The debt-to-equity ratio increased to 30.6% in 2024 from 23.0% in 2023, primarily due to the increase in interest-bearing bank borrowings[72][74]. - The return on equity decreased to -1.6% in 2024 from 6.8% in 2023, attributed to a decline in profit[72][76]. - The return on assets decreased to 0.7% in 2024 from 6.0% in 2023, mainly due to a decrease in profit[72][78]. Governance and Compliance - The company is committed to enhancing its corporate governance and social responsibility, focusing on economic and social benefits[102]. - The company has adopted stricter internal control policies to ensure compliance with financial assistance regulations[107]. - The company has established a governance framework that includes various committees such as the Audit Committee and the Remuneration and Assessment Committee[110]. - The board is responsible for setting the overall strategy and monitoring management performance, while daily operations are managed by the executive team[112]. - The company has committed to regular training for management to clarify the correct classification of financial assistance transactions[107]. - The board of directors includes three independent non-executive directors, accounting for over one-third of the board[114]. - The audit committee held three meetings during the year ending December 31, 2024, with attendance rates of 100% for two members[121]. - The company's auditor has issued an unqualified opinion on the financial statements for the year 2024[123]. - The company has adopted a remuneration policy that considers the group's operating performance and market practices[124]. - The Nomination Committee evaluates candidates based on various factors, including gender, age, cultural background, and professional experience[133]. Environmental, Social, and Governance (ESG) - The company’s environmental, social, and governance (ESG) report covers the overall performance in these areas for the year 2024[168]. - The company has achieved ISO certifications including ISO9001:2015 for quality management, ISO14001:2015 for environmental management, ISO45001:2018 for occupational health and safety, and ISO50001:2018 for energy management[176]. - The company holds 33 utility model patents, demonstrating its commitment to innovation and technology development[176]. - The board of directors is responsible for ESG strategy formulation and report review, ensuring compliance with ESG governance[177]. - The company has established a comprehensive communication mechanism with stakeholders, including regular meetings and various channels to gather feedback on ESG issues[180]. - The company is committed to sustainable development and has integrated ESG principles into its major decision-making processes[175]. - The group maintained a "zero tolerance" attitude towards business ethics risks, with no lawsuits or penalties related to corruption, bribery, or fraud during the reporting period[186]. - The environmental management system is continuously improved, with no major environmental lawsuits or penalties reported during the period[190]. - The company has achieved a wastewater recovery rate of 100% and solid waste utilization rate of 100%, ensuring zero emissions[195]. - The company has maintained compliance with environmental standards, with ongoing collaboration with qualified environmental assessment agencies for regular compliance testing of wastewater and emissions[198].

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 3,102.0 million, an increase of 33% compared to RMB 2,330.2 million for the year ended December 31, 2023[4]. - Gross profit decreased to RMB 71.6 million, down 52% from RMB 148.8 million in the previous year[4]. - The company reported a net loss attributable to shareholders of RMB 16.0 million, compared to a profit of RMB 54.9 million in the previous year[4]. - Basic loss per share was RMB 0.02, compared to earnings of RMB 0.09 per share in the previous year[4]. - Total comprehensive income for the year was RMB 11.9 million, a decrease of 85% from RMB 82.4 million in the previous year[4]. - The company reported a pre-tax profit of RMB 12,008,000 for the year ended December 31, 2024, a significant decrease from RMB 98,889,000 in the previous year, representing an approximate 87.9% decline[12]. - Operating cash flow for the year was RMB 96,855,000, down from RMB 104,459,000 in the previous year, indicating a decrease of about 7.7%[12]. - The company experienced a net cash outflow from investing activities of RMB 268,856,000, compared to RMB 71,062,000 in the previous year, reflecting a substantial increase in investment expenditures[13]. - Financing activities generated a net cash inflow of RMB 2,490,000, a significant decrease from RMB 204,947,000 in the previous year, indicating reduced financing activities[13]. - The company’s cash and cash equivalents decreased to RMB 136,772,000 at year-end from RMB 300,710,000 at the beginning of the year, marking a decline of approximately 54.5%[13]. Assets and Liabilities - Non-current assets decreased to RMB 1,085.7 million from RMB 1,111.6 million, reflecting a decline of approximately 2.3%[5]. - Current assets increased to RMB 590.7 million, up from RMB 551.8 million, representing a growth of 7%[5]. - Total equity decreased to RMB 1,091.6 million from RMB 1,127.4 million, a decline of about 3.2%[6]. - The company’s total liabilities increased to RMB 456.8 million, up from RMB 382.6 million, indicating a rise of approximately 19.4%[5]. - The company’s total liabilities included a provision for inventory, which was assessed based on estimated net realizable value, reflecting current market conditions[76]. - The company’s total liabilities as of December 31, 2024, were RMB 349,772 thousand, compared to RMB 276,055 thousand as of December 31, 2023[111]. - The total liabilities to total assets ratio increased from approximately 25.7% in 2023 to 31.1% in 2024, indicating a higher leverage position[197]. Revenue Breakdown - The revenue breakdown for 2024 included RMB 2,377,194,000 from derivative chemicals, RMB 742,051,000 from energy products, RMB 190,794,000 from trade, and RMB 10,925,000 from other services[90]. - The company reported external sales of RMB 604,489,000 from energy products, which included RMB 444,008,000 from gas and RMB 292,367,000 from liquefied natural gas[78]. - The company confirmed revenue of approximately RMB 171,261,000 from retail sales of liquefied natural gas, refined oil, and hydrogen through its gas stations[78]. - Major customer A contributed RMB 883,116,000 in revenue for the year ended December 31, 2024, up from RMB 833,131,000 in 2023, representing a growth of approximately 6%[97]. - Other income increased significantly to RMB 21,619,000 in 2024 from RMB 8,553,000 in 2023, marking a growth of approximately 153%[97]. Expenses and Costs - The total expenses for the year ended December 31, 2024, were RMB 385,739,000, down from RMB 427,868,000 in 2023, indicating a decrease of approximately 9.8%[121]. - The company incurred financing costs of RMB 6,064,000 for the year ended December 31, 2023, compared to RMB 16,472,000 in 2024[99]. - Depreciation and amortization expenses for the year ended December 31, 2023, totaled RMB 58,521,000, with the chemical division accounting for RMB 21,778,000[95]. - The total remuneration for directors and senior management for the year ending December 31, 2024, was RMB 1,505 thousand, compared to RMB 932 thousand for the year ending December 31, 2023[105]. - The company recognized employee benefit contributions of RMB 3,258,000 in 2024, up from RMB 2,722,000 in 2023, representing a growth of approximately 19.7%[158]. Strategic Focus and Future Outlook - The company plans to focus on new product development and market expansion strategies in the upcoming year[3]. - The company plans to expand its energy business and incorporate hydrogen in response to China's commitment to developing a circular economy and achieving carbon neutrality[199]. - The company commenced operations of hydrogen stations starting from the fourth quarter of 2023[199]. - The operational performance of the company is influenced by various factors, which will be discussed in detail in future reports[200]. Compliance and Accounting Standards - The group has not early adopted the newly issued and revised International Financial Reporting Standards (IFRS), including IFRS 9 and IFRS 7 revisions, which are expected to impact financial statements starting from 2026[18]. - IFRS 18, effective from January 1, 2027, introduces new requirements for the presentation and disclosure in financial statements, including specific categories and definitions in the income statement[19]. - The consolidated financial statements are prepared based on the International Financial Reporting Standards, with the group being considered a going concern for the foreseeable future[20]. - The group expects the application of new IFRS standards to affect the presentation of the income statement and disclosures in future financial statements[19]. Credit Risk and Financial Assets - The expected credit loss for trade receivables as of December 31, 2024, is not significant, with a loss rate of 0.20% (2023: 0.14%) for low-risk internal credit ratings[188]. - The company only accepts trade receivables from customers with good credit ratings and maintains a low credit risk profile[184]. - The company’s management continuously monitors credit risk levels to ensure timely follow-up on overdue debts, significantly reducing credit risk[181]. - There are no debtors with credit impairment as of December 31, 2024, consistent with 2023[187]. Joint Ventures and Subsidiaries - The joint venture, Jinjiang Refining, reported revenue of RMB 165,649,000 for the year ended December 31, 2024, compared to RMB 111,692,000 in 2023, reflecting a growth of 48%[133]. - The cash and cash equivalents of the joint venture increased to RMB 62,601,000 in 2024 from RMB 61,034,000 in 2023[132]. - The company’s net assets in the joint venture decreased to RMB 81,497,000 in 2024 from RMB 90,911,000 in 2023, a decline of 10%[129]. Inventory and Provisions - Inventory increased to RMB 144,987,000 in 2024 from RMB 117,484,000 in 2023, reflecting a growth of approximately 23.4%[136]. - Inventory provisions recognized for the year ended December 31, 2024, were RMB 1,089,000, compared to zero in 2023, with the carrying amount of inventory at RMB 144,987,000, up from RMB 117,484,000 in 2023[76].

Financial Performance - For the first half of 2024, the company's revenue reached RMB 1,602.1 million, a significant increase of RMB 526.1 million compared to RMB 1,076.0 million in the same period of 2023, representing a growth of approximately 48.9%[5] - The gross profit for the first half of 2024 was RMB 71.8 million, down from RMB 106.5 million in the first half of 2023, indicating a decline of 32.6%[5] - The net profit for the first half of 2024 was RMB 44.9 million, a decrease of RMB 20.8 million compared to RMB 65.7 million in the same period of 2023, reflecting a decline of 31.6%[5] - The total comprehensive income for the first half of 2024 was RMB 45.1 million, a decrease of RMB 20.5 million or 31.2% from RMB 65.6 million in 2023[22] - The company’s operating profit before tax for the first half of 2024 was RMB 54.9 million, down RMB 27.6 million or 33.5% from RMB 82.5 million in the previous year[25] - The group’s profit before tax decreased by RMB 27.6 million or 33.4% from RMB 82.5 million in the first half of 2023 to RMB 54.9 million in the same period of 2024[36] - The company reported a net profit of RMB 30,233 thousand for the six months ended June 30, 2024, compared to RMB 50,880 thousand for the same period in 2023, indicating a decrease of 40.7%[114] Revenue and Sales - The average selling price of hydrogenated aromatic chemicals in the first half of 2024 was RMB 6,941.89 per ton, up from RMB 6,250.10 per ton in 2023, marking an increase of 11.0%[12] - The revenue from energy products was RMB 362,937 thousand, which included sales of LNG and gas, indicating a diversified revenue stream[126] - The sales of hydrogenated benzene chemicals reached RMB 1,229,506 thousand, contributing the largest share to total revenue[126] - For the six months ended June 30, 2024, total revenue reached RMB 1,690,758 thousand, a significant increase from RMB 1,179,367 thousand for the same period in 2023, representing a growth of approximately 43.3%[138][139] Cost and Profitability - The company reported a gross margin of 4.5% for the first half of 2024, down from 9.9% in the same period of 2023, indicating a decrease of 5.4 percentage points[5] - The net profit margin for the first half of 2024 was 2.8%, down from 6.1% in the first half of 2023, reflecting a decline of 3.3 percentage points[5] - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[183] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 1,700.4 million, an increase of RMB 37.0 million from RMB 1,663.4 million as of December 31, 2023[5] - As of June 30, 2024, the company's total bank borrowings amounted to approximately RMB 339.7 million, an increase of RMB 80.9 million from RMB 258.8 million as of December 31, 2023[51] - The company’s total liabilities decreased from RMB 199,010 thousand as of December 31, 2023, to RMB 162,700 thousand as of June 30, 2024, a reduction of about 18.2%[165] Financing and Investment - The financing cost for the first half of 2024 was approximately RMB 8.1 million, representing 0.50% of total revenue, compared to RMB 3.0 million or 0.28% in the same period of 2023[17] - The company plans to construct a mobile hydrogen refueling station in Jiaozuo with an investment of approximately RMB 3.5 million, expected to be operational in Q4 2024[23] - The company plans to allocate 85% of the net proceeds (RMB 194.6 million) for hydrogen refueling stations, with no funds utilized as of June 30, 2024[79] Operational Developments - The company has expanded its operations to include hydrogen station services starting from Q4 2023, aligning with China's commitment to a circular economy and carbon neutrality goals[3] - The company is focusing on expanding its energy business to include hydrogen, in response to the growing demand for green and low-carbon solutions[3] - The company has initiated a strategic partnership with a leading technology firm to enhance its R&D capabilities, focusing on sustainable chemical processes[194] Corporate Governance - The board consists of eight members, including two executive directors and three independent non-executive directors, with a term of three years until July 28, 2026[85] - The company has complied with all relevant corporate governance codes and regulations during the reporting period[82] - There were no significant transactions involving directors or supervisors that could impact the company's business during the reporting period[89] Future Outlook - The company provided a positive outlook for the second half of 2024, projecting a revenue growth of 10% to 12%[183] - New product launches are expected to contribute an additional 200 million RMB in revenue by the end of 2024[183] - The company plans to increase its dividend payout ratio to 30% of net profits, reflecting confidence in future earnings[183] - The company aims to increase its market share by 8% in the next fiscal year through aggressive marketing strategies[194]