Financial Performance - The group recorded revenue of approximately RMB 302.9 million for the fiscal year ending December 31, 2023, consistent with the previous year[7]. - For the fiscal year ending December 31, 2023, the company's revenue was approximately RMB 302.9 million, a decrease of about 4.7% compared to RMB 317.9 million for the fiscal year ending December 31, 2022[18]. - Revenue from oil product sales was approximately RMB 224.1 million, a slight decrease of about 2.4% from RMB 229.7 million in the previous year[14]. - Revenue from handling services decreased by approximately 14.2% to about RMB 73.8 million, primarily due to a reduction in cargo throughput[19]. - The overall gross profit decreased by approximately 9.0% to about RMB 49.2 million, with the gross profit margin declining from approximately 17.0% to 16.3%[23][24]. - Other income for the fiscal year ending December 31, 2023, was approximately RMB 2.7 million, compared to a net loss of approximately RMB 553,000 for the fiscal year ending December 31, 2022[25]. - Financial income for the fiscal year ending December 31, 2023, was approximately RMB 1.0 million, primarily from bank interest income[26]. - Selling and administrative expenses decreased by approximately 12.6% to about RMB 14.6 million, mainly due to reductions in professional service expenses and other costs[27]. - The company's profit attributable to owners for the year ended December 31, 2023, was approximately RMB 19.1 million, an increase of about 9.3% compared to RMB 17.5 million for the year ended December 31, 2022[32]. Operational Performance - The total cargo throughput was approximately 3,345 thousand tons, a decrease of about 819 thousand tons or 19.7% compared to the previous year[12]. - The average handling fee for cargo processing increased compared to the previous year, despite the overall decrease in demand[12]. - The total employee cost for the year ended December 31, 2023, was approximately RMB 25.2 million, down from RMB 28.0 million for the year ended December 31, 2022, due to a reduction in the number of employees from 236 to 219[43]. - The company has no significant investments, acquisitions, or disposals involving subsidiaries, associates, or joint ventures for the year ended December 31, 2023[40]. - The company has no pledged assets as of December 31, 2023, compared to certain pledged assets with a total carrying value of RMB 39.0 million and RMB 46.8 million in bank deposits as of December 31, 2022[41]. Strategic Initiatives - The group is planning to expand its international import trade business, which is expected to become a significant revenue source in the coming years[8]. - The company is in the preparatory stage for its international import trading business, expected to commence in 2024[15]. - The company aims to enhance its corporate image and reputation through a trade framework agreement with Maoming Tianyuan, which was established on November 1, 2022[15]. - The group aims to mitigate the impact of crude oil price fluctuations on its trading business through various hedging strategies[8]. - The group will actively respond to the demand for health management due to the aging population trend, aligning with the health industry[8]. - The group plans to enhance operational capabilities and efficiency while consolidating its core business[51]. - The group aims to expand its sales coverage in the oil sales sector and invest more resources in the development of import trade business[51]. - The group will actively seek and seize potential business and investment opportunities to further diversify its operations[52]. - Business diversification is expected to promote revenue diversification, profitability, and long-term sustainable growth for the group[52]. Corporate Governance - The board has emphasized the importance of corporate governance, ensuring compliance with relevant regulations and standards[82]. - The company has maintained a strong internal control framework, with external consultants engaged for periodic reviews[84]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced governance structure[89]. - The board currently consists of three independent non-executive directors, accounting for over one-third of the board[93]. - All independent non-executive directors have received annual confirmation letters affirming their independence according to listing rules[93]. - The company has arranged adequate insurance coverage for directors' liabilities since May 17, 2018, complying with corporate governance code C.1.8[94]. - The company has adopted a nomination policy to guide the nomination committee in evaluating candidates for the board[119]. - The company ensures that the remuneration committee's recommendations are based on performance and market conditions[110]. - The company has confirmed compliance with corporate governance codes and regulations[106]. - The annual corporate governance report has been verified and confirmed by the board[106]. Environmental, Social, and Governance (ESG) Initiatives - The company has adhered to all "comply or explain" provisions of the Environmental, Social, and Governance (ESG) reporting guidelines during the reporting year[159]. - The board of directors is responsible for leading and supervising environmental, social, and governance (ESG) matters, ensuring the group addresses opportunities and risks related to sustainable development[167]. - The group has established an ESG working group to enhance the effectiveness of sustainable development governance[167]. - The group conducts regular environmental assessments and monitoring reports to ensure compliance with standards and legal regulations regarding wastewater, noise, and air pollution[178]. - No significant violations related to air and greenhouse gas emissions, water and land discharges, or waste generation were reported during the fiscal year[177]. - The group actively engages with stakeholders through meetings, surveys, and dialogues to gather feedback on ESG issues[168]. - The group aims to strengthen its operations, management, and technology in port activities and facilities[165]. - The group emitted 19.65 kg of nitrogen oxides, 6.55 kg of sulfur oxides, and 1.81 kg of particulate matter during the reporting year[181]. - Greenhouse gas emissions totaled 2,526.69 tons of CO2 equivalent, with a density of 0.76 tons of CO2 equivalent per thousand tons of total cargo throughput[183]. - The group has set a target to reduce total greenhouse gas emissions by 3% per year for every thousand tons of total cargo throughput over the next 10 years[196].

Financial Performance - For the year ended December 31, 2023, revenue decreased by approximately 4.7% or RMB 15.0 million to approximately RMB 302.9 million compared to the previous year[3] - Gross profit for the year ended December 31, 2023, decreased by approximately 9.0% or RMB 4.9 million to approximately RMB 49.2 million compared to the previous year[3] - Profit attributable to owners of the company increased by approximately 9.3% or RMB 1.6 million to approximately RMB 19.1 million for the year ended December 31, 2023[3] - Total revenue for the year ended December 31, 2023, was RMB 302,891,000, a decrease from RMB 317,901,000 in 2022, representing a decline of approximately 4.3%[22] - The company reported a net profit of RMB 25,853,000 for the year ended December 31, 2023, compared to RMB 24,064,000 in 2022, indicating an increase of approximately 7.4%[22] - The company reported an operating profit of RMB 37.3 million for the year ended December 31, 2023, compared to RMB 36.9 million in the previous year, reflecting a slight increase[4] Assets and Liabilities - Total assets decreased from RMB 470.9 million in 2022 to RMB 385.4 million in 2023, a reduction of approximately 18.1%[5] - Total liabilities decreased significantly from RMB 120.7 million in 2022 to RMB 39.4 million in 2023, a reduction of approximately 67.3%[9] - Total assets as of December 31, 2023, amounted to RMB 385,409,000, with total liabilities of RMB 39,439,000[23] - The company’s total liabilities decreased significantly from RMB 92,384,000 in 2022 to RMB 10,319,000 in 2023, a reduction of about 88.8%[38] Cash and Cash Equivalents - Cash and cash equivalents increased from RMB 18.5 million in 2022 to RMB 26.3 million in 2023, an increase of approximately 42.5%[5] - The company’s cash and cash equivalents as of December 31, 2023, included USD 1,926,000, equivalent to RMB 13,644,000[26] Earnings and Dividends - The company’s basic and diluted earnings per share increased from RMB 0.0291 in 2022 to RMB 0.0319 in 2023[4] - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[3] - The company’s cash dividend for the year ended December 31, 2023, was RMB 24,000,000, an increase from RMB 21,000,000 in 2022, representing a growth of approximately 14.3%[40] Revenue Segmentation - Revenue from the sale of oil products was RMB 227,678,000, while revenue from cargo handling and related services was RMB 75,213,000 for the year ended December 31, 2023[22] - Revenue from oil product sales for the year ended December 31, 2023, was approximately RMB 224.1 million, a slight decrease of about 2.4% from approximately RMB 229.7 million for the year ended December 31, 2022[46] - The revenue from handling services decreased by approximately 14.2% to about RMB 73.8 million for the year ended December 31, 2023[50] Expenses and Costs - Selling and administrative expenses decreased by approximately 12.6% to about RMB 14.6 million for the year ended December 31, 2023, from approximately RMB 16.7 million for the year ended December 31, 2022[58] - The total employee cost for the year ended December 31, 2023, was approximately RMB 25.2 million, down from approximately RMB 28.0 million for the year ended December 31, 2022, due to a reduction in the number of employees[72] Taxation - Total income tax expenses for 2023 amounted to RMB 12,799,000, an increase from RMB 12,382,000 in 2022, reflecting a rise of about 3.4%[33] - Income tax expenses increased by approximately 13.4% to about RMB 12.8 million for the year ended December 31, 2023, from approximately RMB 11.3 million for the year ended December 31, 2022, due to higher taxable profits and increased withholding tax[60] Future Outlook and Strategy - The company expects strong economic growth in China for 2024, supported by multiple stabilization and stimulus policies[77] - The company aims to enhance operational capabilities and efficiency while expanding its cargo sourcing and strengthening customer relationships[77] - In the oil sales sector, the company plans to increase its sales coverage and invest more resources in the development of import trade business[77] - The company will actively seek potential business and investment opportunities to further diversify its operations, promoting revenue diversification and long-term sustainable growth[77] Corporate Governance - The board believes that the separation of roles between the chairman and CEO is not necessary due to the balanced distribution of power and authority within the board[78] - The company has not established an independent internal audit department but has implemented appropriate measures to fulfill internal audit functions[80] - The audit committee has reviewed the consolidated financial statements for the year ending December 31, 2023, and confirmed compliance with applicable accounting standards[88] Miscellaneous - The annual general meeting is scheduled for June 12, 2024, with relevant notices to be published on the company's website[84] - The group had no interest-bearing borrowings as of December 31, 2023, with a debt-to-equity ratio of approximately 0.1%, down from approximately 0.2% as of December 31, 2022[64] - The group has no significant investments or acquisitions as of December 31, 2023, similar to the situation as of December 31, 2022[68] - The group maintains a cautious approach to financial and funding policies, focusing on risk management and transactions directly related to its business[65] - No significant matters affecting the group have occurred since December 31, 2023[82] - The board expresses gratitude for the efforts and dedication of the management team and all employees, as well as the support from shareholders and business partners during the reporting year[92] - The executive directors include Mr. Yang Jinming, Ms. Dong Huimin, and Mr. Su Bohan, while the non-executive director is Mr. Yang Fan, and independent non-executive directors include Mr. Peng Hanzhong, Professor Wu Jinwen, and Mr. Huang Yaohui[93]

Financial Performance - Revenue for the six months ended June 30, 2023, was approximately RMB 215.1 million, an increase of about 62.6% compared to RMB 132.2 million in the same period last year[12]. - Sales revenue from oil products increased by approximately 119.5% to about RMB 179.8 million, up from RMB 81.9 million in the same period last year[10]. - The overall gross profit decreased by approximately 23.4% to about RMB 24.5 million for the six months ended June 30, 2023, down from RMB 32.0 million in the same period last year[18]. - Profit attributable to owners of the company was approximately RMB 8.3 million for the six months ended June 30, 2023, down from approximately RMB 10.6 million in the same period last year[25]. - The net profit for the period was RMB 11,729,000, a decline of 24.0% compared to RMB 15,483,000 in the prior year[54]. - Basic and diluted earnings per share were RMB 0.014, down from RMB 0.018 in the same period last year[54]. Cargo Throughput and Handling - The total cargo throughput for the six months ended June 30, 2023, was approximately 1,575,000 tons, a decrease of about 786,000 tons or 33.3% compared to the same period last year[7]. - The revenue from unloading services decreased by approximately 31.0% to about RMB 34.2 million, mainly due to the reduction in total cargo throughput[13]. - The average handling fee for cargo processing slightly increased compared to the same period last year, despite the overall decrease in cargo throughput[7]. Costs and Expenses - The sales cost increased by approximately 90.0% to about RMB 190.6 million for the six months ended June 30, 2023, primarily due to the cost of goods sold from oil products[16]. - Overall gross margin decreased from approximately 24.2% for the six months ended June 30, 2022, to approximately 11.4% for the six months ended June 30, 2023[19]. - Selling and administrative expenses decreased from approximately RMB 7.5 million for the six months ended June 30, 2022, to approximately RMB 6.4 million for the six months ended June 30, 2023[21]. - Income tax expenses decreased by approximately 24.5% from approximately RMB 7.5 million for the six months ended June 30, 2022, to approximately RMB 5.6 million for the six months ended June 30, 2023[24]. Operational Strategies - The company is expanding its sales and marketing team to enhance its international import trade business in the second half of 2023[10]. - The company aims to improve its corporate image and reputation among existing and potential independent customers through economies of scale and better inventory management[10]. - The company continues to enhance service quality and strengthen relationships with major customers while broadening its customer base[8]. - The group aims to enhance operational capabilities and efficiency by consolidating and integrating core businesses, expanding cargo sources, and strengthening cost control[39]. Assets and Liabilities - The group recorded a net value of current assets of approximately RMB 130.0 million as of June 30, 2023, compared to approximately RMB 140.2 million as of December 31, 2022[27]. - The total assets as of June 30, 2023, amounted to RMB 456,548 thousand, a decrease from RMB 470,902 thousand as of December 31, 2022[84]. - The total liabilities as of June 30, 2023, were RMB 118,624 thousand, compared to RMB 120,707 thousand at the end of 2022, showing a slight reduction of 1.7%[84]. - The company's equity attributable to owners decreased from RMB 298,269 thousand to RMB 282,603 thousand, a decline of approximately 5.3%[61]. Employee and Management Information - The group employed 224 employees as of June 30, 2023, down from 239 employees as of June 30, 2022, resulting in total employee costs of approximately RMB 12.0 million for the current period[34]. - Total management compensation for the six months ended June 30, 2023, was RMB 821,000, a decrease of 13.3% from RMB 947,000 in 2022[135]. Dividends and Share Capital - The company does not recommend the payment of an interim dividend for the six months ending June 30, 2023, compared to no dividend for the same period in 2022[36]. - The company’s issued and fully paid share capital remained at 600,000,000 shares as of June 30, 2023, with a share premium of RMB 163,478,000[123]. Financial Risks and Governance - The group is exposed to various financial risks, including market risk, credit risk, and liquidity risk, which should be read in conjunction with the annual financial statements[74]. - The board believes that good corporate governance standards and internal procedures are crucial for effective accountability and enhancing shareholder value[41].

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，並明確表示不會就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 TIAN YUAN GROUP HOLDINGS LIMITED 天源集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6119） 截至二零二三年六月三十日止六個月之 中期業績公告 財務摘要 • 截至二零二三年六月三十日止六個月的收益較二零二二年同期約人民幣 132.2百萬元增加約62.6%或約人民幣82.8百萬元至約人民幣215.1百萬元。 • 截至二零二三年六月三十日止六個月的毛利較二零二二年同期約人民幣 32.0百萬元減少約23.4%或約人民幣7.5百萬元至約人民幣24.5百萬元。 • 截至二零二三年六月三十日止六個月的本公司擁有人應佔溢利較二零二 二年同期約人民幣10.6百萬元減少約21.3%或約人民幣2.3百萬元至約人 民幣8.3百萬元。 ...

Financial Performance - The company reported a revenue of approximately RMB 317.9 million for the fiscal year ending December 31, 2022, representing an increase of about 7.7% compared to the previous year[5]. - For the fiscal year ending December 31, 2022, the company's revenue was approximately RMB 317.9 million, an increase of about 7.7% compared to RMB 295.1 million for the fiscal year ending December 31, 2021[17]. - Revenue from oil product sales increased by approximately 12.0% to about RMB 229.7 million for the fiscal year ending December 31, 2022, driven by increased demand for oil products[19]. - The company's sales cost rose by approximately 10.2% to about RMB 263.8 million for the fiscal year ending December 31, 2022, primarily due to increased sales of oil products[21]. - The overall gross profit decreased by approximately 2.8% to about RMB 54.1 million for the fiscal year ending December 31, 2022[22]. - The overall gross margin declined from approximately 18.9% for the fiscal year ending December 31, 2021, to about 17.0% for the fiscal year ending December 31, 2022[23]. - The company recorded a net loss of approximately RMB 553,000 from other losses for the fiscal year ending December 31, 2022, compared to a net gain of approximately RMB 715,000 for the fiscal year ending December 31, 2021[24]. - The income tax expense decreased by approximately 16.2% to about RMB 11.3 million for the fiscal year ending December 31, 2022, mainly due to the application of a lower withholding tax rate[28]. - The profit attributable to the owners of the company was approximately RMB 17.5 million for the fiscal year ending December 31, 2022, representing an increase of about 37.5% compared to RMB 12.7 million for the fiscal year ending December 31, 2021[29]. Operational Highlights - The total cargo throughput for the fiscal year was approximately 4,164 thousand tons, an increase of about 60 thousand tons or approximately 1.5% from the previous year[11]. - The average handling fee for cargo remained stable compared to the previous year, despite the challenges posed by the COVID-19 pandemic[11]. - The company has successfully strengthened service quality and expanded its customer base by acquiring several new clients during the reporting year[12]. - The company is expanding its sales and marketing department to support the development of its international import trade business in 2023[15]. - The company plans to enhance its corporate image and reputation through a trade framework agreement with Maoming Tianyuan, targeting a major customer for oil products[15]. - The group plans to enhance operational capabilities and efficiency by consolidating and integrating core businesses[47]. - In cargo handling and packaging services, the group aims to broaden its cargo sources and strengthen cost control while deepening customer relationships[47]. - The group is committed to expanding sales in fuel retail, improving marketing strategies, and enhancing customer service to develop the market steadily[47]. Corporate Governance - The company has adhered to the corporate governance code, except for provisions C.2.1 and D.2.5, which relate to the separation of roles between the Chairman and the CEO, and the establishment of an internal audit function respectively[76]. - The board consists of three executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2022[82]. - The company has implemented appropriate measures to fulfill internal audit functions, including hiring external consultants for internal reviews[77]. - The board is responsible for leading and monitoring the company's business performance and approving major financing and investment proposals[81]. - The company has a structured governance policy that includes regular reviews of its governance practices and compliance with legal and regulatory requirements[81]. - The company has established formal arrangements for financial reporting and internal control principles to ensure compliance with listing rules and relevant laws[77]. - The board has established three committees: the remuneration committee, the nomination committee, and the audit committee, with most members being independent non-executive directors[96]. - The company has confirmed compliance with corporate governance codes and policies[104]. Environmental, Social, and Governance (ESG) Initiatives - The company has adhered to all "comply or explain" provisions of the Environmental, Social, and Governance reporting guidelines during the reporting period[145]. - The board of directors is responsible for leading and supervising environmental, social, and governance matters, ensuring the group captures opportunities and manages risks related to sustainable development[151]. - The group has established an environmental, social, and governance working group to enhance the effectiveness of sustainable development governance[151]. - The group reported emissions of 21.22 kg of nitrogen oxides, 7.45 kg of sulfur oxides, and 1.95 kg of particulate matter from its operations[163]. - The total greenhouse gas emissions for the group in 2022 amounted to 2,479.29 tons of CO2 equivalent, with a density of 0.60 tons of CO2 equivalent per thousand tons of total cargo throughput[165]. - The group aims to reduce total greenhouse gas emissions by 3% annually per thousand tons of total cargo throughput over the next 10 years[174]. - The group has implemented measures to reduce emissions, including the purchase and rental of new electric vehicles for operations[173]. - The group has engaged external consultants to assess environmental risks associated with terminal operations, aiming to reduce overall environmental impact[190]. Workforce and Employment Practices - The group employed 236 employees as of December 31, 2022, down from 247 employees as of December 31, 2021[38]. - The total employee cost for the year ended December 31, 2022, was approximately RMB 28.0 million, an increase from RMB 26.9 million for the year ended December 31, 2021, primarily due to salary and bonus increases[38]. - The employee turnover rate during the reporting period was 9%, with 20 employees leaving the company[200]. - Female employees accounted for 17% of the total workforce in 2022, up from 16% in 2021, while male employees decreased from 84% to 83%[198]. - The group has maintained compliance with various labor laws and regulations, including the Labor Law of the People's Republic of China[198]. - The group has not reported any significant violations related to employment practices during the reporting period[198]. Future Outlook and Strategic Plans - The company plans to expand its international import trade business in 2023, aiming to diversify its revenue sources and enhance overall earnings[7]. - The company has set a revenue guidance of HKD 1.5 billion for the next fiscal year, indicating a growth target of 25%[60]. - New product launches are expected to contribute an additional HKD 300 million in revenue, with a focus on eco-friendly technologies[60]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by 2025[60]. - A strategic acquisition of a local competitor is anticipated to enhance operational efficiency and increase market penetration by 15%[60].

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，並明確表示不會就因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 TIAN YUAN GROUP HOLDINGS LIMITED 天源集團控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6119） 截至二零二二年十二月三十一日止年度之年度業績公告 財務摘要 • 截至二零二二年十二月三十一日止年度的收益較截至二零二一年十二月 三十一日止年度約人民幣295.1百萬元增加約7.7%或約人民幣22.8百萬元 至約人民幣317.9百萬元。 • 截至二零二二年十二月三十一日止年度的毛利較截至二零二一年十二月 三十一日止年度約人民幣55.7百萬元減少約2.8%或約人民幣1.5百萬元至 約人民幣54.1百萬元。 • 截至二零二二年十二月三十一日止年度的本公司擁有人應佔溢利較截至 二零二一年十二月三十一日止年度約人民幣12.7百萬元增加約37.5%或約 人民幣4.8百萬元至約人民幣17.5百萬元。 ...

Financial Performance - For the six months ended June 30, 2022, the total cargo throughput was approximately 2,361,000 tons, an increase of about 330,000 tons or 16.2% compared to the same period last year[11]. - Revenue for the six months ended June 30, 2022, was approximately RMB 132.2 million, a decrease of about 33.5% compared to RMB 198.8 million in the same period last year[15]. - The revenue from handling services increased by approximately 17.8% to about RMB 49.6 million, driven by higher demand for coal, oil products, and grain[17]. - The revenue from oil product sales decreased by approximately 47.5% to about RMB 81.9 million, primarily due to a decline in demand attributed to price fluctuations[18]. - The overall gross profit increased by approximately 10.3% to about RMB 32.0 million, with the gross profit margin rising from approximately 14.6% to about 24.2%[22]. - The gross profit margin for the cargo handling and ancillary services segment was approximately 55.1%, up from about 53.3% in the same period last year[23]. - The profit attributable to the owners of the company for the six months ended June 30, 2022, was approximately RMB 10.6 million, an increase from approximately RMB 9.6 million for the same period in 2021, driven by improved gross margins and reduced finance costs[28]. - Net profit for the period was RMB 15,483 thousand, representing a 14.5% increase from RMB 13,525 thousand in the same period last year[70]. - Basic and diluted earnings per share increased to RMB 0.018, up from RMB 0.016 in 2021[70]. Costs and Expenses - The sales cost decreased by approximately 40.9% to about RMB 100.3 million, mainly due to lower costs associated with oil product sales[19]. - Selling and administrative expenses increased slightly from approximately RMB 7.4 million to about RMB 7.5 million[24]. - Income tax expenses increased by approximately 26.1% to about RMB 7.5 million for the six months ended June 30, 2022, from approximately RMB 5.9 million for the same period in 2021, mainly due to higher taxable profits[27]. - The total employee costs for the six months ended June 30, 2022, were approximately RMB 13.4 million, an increase from approximately RMB 11.7 million for the same period in 2021, mainly due to higher performance bonuses and other incentives[41]. - Administrative and selling expenses for the period were RMB (7,480) thousand, impacting overall profitability[107]. Assets and Liabilities - As of June 30, 2022, the group's current assets net value was approximately RMB 132.5 million, down from approximately RMB 135.0 million as of December 31, 2021[31]. - The total assets as of June 30, 2022, were RMB 372,880 thousand, a decrease from RMB 383,515 thousand at the end of 2021[73]. - Total liabilities decreased to RMB 24,866 thousand from RMB 29,984 thousand at the end of 2021[76]. - The company's interest-bearing borrowings were approximately RMB 5.7 million as of June 30, 2022, unchanged from December 31, 2021, with a debt-to-equity ratio of approximately 1.9%[33]. - The total value of trade and other receivables was RMB 15,917,000 as of June 30, 2022, up from RMB 12,727,000 as of December 31, 2021[161]. - The total trade and other payables and accrued expenses amounted to RMB 9,140,000, down 24.4% from RMB 12,109,000 as of December 31, 2021[171]. Cash Flow - Operating cash flow for the six months ended June 30, 2022, was RMB (13,551) thousand, a decrease from RMB 24,175 thousand in the same period of 2021, representing a decline of approximately 156%[82]. - Net cash used in operating activities was RMB (22,627) thousand, compared to RMB 14,948 thousand in the previous year, indicating a significant increase in cash outflow[82]. - Cash and cash equivalents decreased by RMB 50,130 thousand, down from a decrease of RMB 13,829 thousand in the same period last year, reflecting a worsening liquidity position[82]. - The company reported a net cash outflow from investing activities of RMB (6,293) thousand, an improvement from RMB (8,166) thousand in the previous year, indicating better management of investment cash flows[82]. - The company’s total cash flow from financing activities was RMB (21,210) thousand, slightly higher than RMB (20,611) thousand in the previous year, reflecting ongoing financing needs[82]. Shareholder Information - As of June 30, 2022, Mr. Yang Jinming holds 423,000,000 shares, representing approximately 70.5% of the company's equity[54]. - Mr. Yang Fan holds 27,000,000 shares, representing approximately 4.5% of the company's equity[54]. - The company’s issued and fully paid share capital remained at 600,000,000 shares as of June 30, 2022, with a share premium of RMB 163,478,000[169]. Corporate Governance - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2022, and found that the preparation complies with applicable accounting standards[65]. - The company has confirmed that all directors have fully complied with the standard code of conduct for securities transactions during the reporting period[66]. - The company plans to appoint external consultants in the second half of the year to conduct an internal review as determined by the audit committee[50]. - The board will periodically review the necessity of establishing an internal audit function and may establish an internal audit team if needed[50]. Future Outlook - The company plans to continue expanding its sales of oil products and improve marketing strategies and customer service in the second half of the year[46]. - The company has no significant investments or capital asset plans other than those disclosed in the interim report as of June 30, 2022[44].

Financial Performance - The company reported total revenue of approximately RMB 295.1 million for the year ended December 31, 2021, representing an increase of about 70.1% compared to RMB 173.5 million for the year ended December 31, 2020[18]. - Revenue from oil product sales increased significantly by 181.0% to RMB 205.2 million, accounting for approximately 70.7% of total revenue[16][20]. - Handling service revenue decreased by approximately 11.9% to about RMB 85.1 million, attributed to reduced demand leading to lower cargo throughput[20]. - Rental income decreased by 38.0% to RMB 1.4 million, while service income increased by 109.1% to RMB 3.3 million[20]. - Overall gross profit decreased by approximately 9.2% to about RMB 55.7 million for the year ended December 31, 2021[25]. - The overall gross margin declined from approximately 35.3% to about 18.9% for the year ended December 31, 2021[26]. - The profit attributable to the owners of the company decreased by approximately 38.9% to about RMB 12.7 million for the year ended December 31, 2021[33]. - The net financial cost was approximately RMB 3.3 million for the year ended December 31, 2021, compared to RMB 2.3 million for the previous year[28]. - Sales cost rose by approximately 113.3% to about RMB 239.4 million for the year ended December 31, 2021, attributed to the cost of goods sold for oil products amounting to about RMB 195.5 million[24]. Operational Developments - The total cargo throughput was approximately 4,104 thousand tons, a decrease of about 12.1% from 4,670 thousand tons in the previous year, primarily due to reduced demand influenced by the ongoing COVID-19 pandemic[15]. - The company plans to construct the second phase of the Zhengyuan Wharf, pending government approval, which will cover an area of approximately 4,410 square meters[9]. - The average handling fee remained stable compared to the previous year, despite fluctuations in the types of cargo processed[15]. - The company has been strengthening service quality and expanding its customer base by adding several new clients during the reporting year[15]. - The company aims to explore new business opportunities to enhance performance and improve shareholder returns as part of its long-term development strategy[10]. Employee and Management Information - As of December 31, 2021, the group employed 247 staff, an increase from 241 staff as of December 31, 2020, resulting in total employee costs of approximately RMB 26.9 million, up from RMB 23.8 million in the previous year, primarily due to increased headcount and social security contributions[43]. - The employee turnover rate for the reporting period was 12.55%, with 29 full-time employees leaving the company[182]. - The company provided a total of 240 training hours for 193 employees during the reporting period[195]. - 100% of senior management received training, while 63% of middle management and 86% of frontline and other employees participated[196]. - The company has increased the disease allowance ratio to retain talent and ensures compensation aligns with market standards[185]. Corporate Governance - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring a balanced distribution of power and independent judgment[84]. - The company has adopted the standard code of conduct for securities trading, confirming full compliance by all directors during the reporting year[81]. - The board has established formal arrangements for financial reporting and internal control principles to ensure compliance with listing rules and relevant laws[83]. - The company has not set up an independent internal audit department but has engaged external consultants for internal reviews as part of its risk management strategy[83]. - The board is committed to holding at least four regular meetings annually, with most directors expected to participate in person or via electronic means[90]. Environmental and Social Responsibility - The group is committed to providing employment opportunities in the communities where it operates, fostering a capable workforce, and maintaining a safe working environment[131]. - The total greenhouse gas emissions for the reporting period amounted to 2,344.1 tons of CO2 equivalent, with a density of 0.5712 tons of CO2 equivalent per thousand tons of total cargo throughput[143]. - The company generated a total of 200 tons of hazardous waste during its operations, which includes waste oil from machinery[149]. - The company aims to reduce its total emissions by 3% per ton of total emissions annually over the next 10 years[152]. - The company has established a goal to reduce waste generation by 3% per ton over the next 10 years[153]. Future Outlook - The company aims to strengthen its core business and cautiously seize opportunities for gradual development and expansion, focusing on broadening sources and improving operational efficiency[53]. - The company plans to continue developing new products and technologies while exploring market expansion opportunities[53]. - The group aims to expand its business operations and production capacity, supported by government policies favoring the non-state economy[131].

Financial Performance - Revenue for the six months ended June 30, 2021, was approximately RMB 198.8 million, an increase of about 96.5% compared to RMB 101.2 million in the same period last year[15]. - Revenue for the six months ended June 30, 2021, was RMB 198,759,000, an increase of 96.4% compared to RMB 101,162,000 for the same period in 2020[67]. - Revenue from the sale of oil products increased by approximately 187.3% to about RMB 155.9 million, driven by rising demand[17]. - The segment revenue from oil product sales was RMB 155,947 thousand for the six months ended June 30, 2021, significantly up from RMB 54,276 thousand in the same period of 2020, marking an increase of approximately 187.5%[110]. - Net profit for the period was RMB 13,525,000, down 15% from RMB 15,894,000 in 2020[67]. - Profit attributable to owners of the company decreased to approximately RMB 9.6 million for the six months ended June 30, 2021, from approximately RMB 11.4 million for the same period in 2020, primarily due to a decline in gross margin and losses from an associated company[29]. - Operating profit decreased to RMB 22,208,000, a decline of 5.1% from RMB 23,398,000 in the previous year[67]. - Basic and diluted earnings per share were RMB 0.016, compared to RMB 0.019 in the same period last year[67]. Costs and Expenses - The overall gross profit decreased by approximately 2.6% to about RMB 29.0 million, with the gross profit margin dropping from approximately 29.4% to 14.6%[21]. - Sales and administrative expenses increased from approximately RMB 6.6 million for the six months ended June 30, 2020, to approximately RMB 7.4 million for the six months ended June 30, 2021, primarily due to increased employee benefits and other expenses[25]. - The sales cost rose approximately 137.8% to about RMB 169.8 million, primarily due to the cost of sold oil products[18]. - Total sales, general, and administrative expenses amounted to RMB 177,163,000 for the six months ended June 30, 2021, compared to RMB 77,957,000 in 2020, reflecting an increase of 127%[112]. - The cost of goods sold for the six months ended June 30, 2021, was RMB 149,803,000, significantly up from RMB 52,385,000 in the same period of 2020, representing an increase of 185%[112]. Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 457,172,000, an increase from RMB 448,305,000 at the end of 2020[69]. - Total liabilities increased to RMB 103,101,000 from RMB 87,359,000 at the end of 2020, reflecting a rise of 17.9%[71]. - The group had net current assets of approximately RMB 134.1 million, down from approximately RMB 139.1 million as of December 31, 2020[31]. - The group’s interest-bearing borrowings remained at approximately RMB 45.7 million as of June 30, 2021, with a debt-to-equity ratio of approximately 13.2%, up from 12.8% as of December 31, 2020[32]. - Cash and cash equivalents decreased to RMB 24,972,000 from RMB 38,801,000, a decline of 35.6%[69]. Taxation and Financial Costs - Income tax expenses decreased by approximately 6.5% from approximately RMB 6.3 million for the six months ended June 30, 2020, to approximately RMB 5.9 million for the same period in 2021, mainly due to lower taxable profits[28]. - Net financial costs for the six months ended June 30, 2021, were approximately RMB 1.8 million, compared to approximately RMB 1.2 million for the same period in 2020[26]. Operational Highlights - The company maintained high standards in production safety, environmental protection, and hygiene during the ongoing COVID-19 pandemic[12]. - The company continued to enhance service quality and broaden its customer base during the reporting period[11]. - The company anticipates that the sale of oil products will continue to be the main growth driver for revenue, focusing on operational efficiency and diversifying cargo sources[45]. - The company plans to continue expanding its service offerings and enhancing operational efficiency to drive future growth[99]. Shareholder Information - The board does not recommend the payment of an interim dividend for the six months ended June 30, 2021, consistent with the same period in 2020[42]. - As of June 30, 2021, Mr. Yang Jinming holds 423,000,000 shares, representing 70.5% of the company's equity, through Hanfu Enterprises Limited[52]. - Mr. Yang Fan holds 27,000,000 shares, representing 4.5% of the company's equity, through Fugang Holdings Limited[53]. - The company has adopted a share option scheme, but no options were granted, exercised, cancelled, or lapsed during the reporting period[61]. Audit and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the unaudited interim results for the six months ending June 30, 2021, and found them to comply with applicable accounting standards[63]. - The company has not established an independent internal audit department but has implemented appropriate measures to fulfill internal audit functions, including compliance with financial reporting and internal control principles[48]. Other Financial Information - The company did not receive any loan proceeds during the reporting period, compared to RMB 20,000,000 in the previous year[76]. - The company had no unrecognized lease liabilities that would result in potential future cash outflows as of June 30, 2021[124]. - The company had capital commitments for property, plant, and equipment of RMB 712,000 as of June 30, 2021, compared to RMB 3,484,000 as of December 31, 2020, reflecting a decrease of 80%[150]. - The company reported a rental expense of RMB 162,000 paid to the controlling shareholder for office space for the six months ended June 30, 2021, compared to RMB 218,000 for the same period in 2020, a decrease of 26%[154].

Financial Performance - For the fiscal year ending December 31, 2020, the company reported revenue of approximately RMB 173.5 million, an increase of about 39.1% compared to RMB 124.7 million for the previous year[24]. - The profit attributable to the owners of the company for the fiscal year was approximately RMB 20.8 million, representing an increase of about 44.0% from the previous year[15]. - The total cargo throughput for the year reached approximately 4,670 thousand tons, an increase of about 17.7% from approximately 3,968 thousand tons in the previous year[21]. - Revenue from oil product sales accounted for approximately 43.0% of the company's total revenue, driven by increased demand[22]. - The revenue from cargo handling services increased by approximately 19.2% to about RMB 96.6 million for the year ended December 31, 2020, compared to RMB 81.0 million in 2019[25]. - Revenue from oil product sales surged by approximately 97.4% to about RMB 73.0 million for the year ended December 31, 2020, compared to RMB 37.0 million in 2019[26]. - The overall gross profit increased by approximately 25.1% to about RMB 61.3 million for the year ended December 31, 2020, compared to RMB 49.0 million in 2019[31]. - The overall gross margin decreased from approximately 39.3% in 2019 to about 35.3% in 2020[32]. - The net financial costs increased to approximately RMB 2.3 million for the year ended December 31, 2020, compared to RMB 1.5 million in 2019[34]. - The proposed final dividend for the year ended December 31, 2020, is RMB 0.034 per share, totaling approximately RMB 20.4 million based on 600 million shares issued[58]. Operational Developments - The company completed the testing and trial phase of the new Zhengyuan Terminal, which is expected to be a significant growth driver for future cargo throughput[15]. - The company established a joint venture to invest in warehouse facilities and international trade of oil products in Zhanjiang, China, aiming to enhance diversification and profitability[16]. - The group anticipates steady growth in cargo throughput following the successful trial operation of the new phase of Zhengyuan Terminal, driven by economic stimulus measures and expected economic growth in China[65]. - The group plans to enhance its oil product supply and sales, which are expected to become a major growth driver for revenue[65]. - The joint venture's investment in warehouse facilities and international trade of oil products in Zhanjiang, China, is expected to become a new growth point for the group[65]. - The company is exploring opportunities to expand its cargo handling capacity in response to market trends[65]. Environmental and Sustainability Efforts - The total greenhouse gas emissions for the reporting year amounted to 2,557.59 tons of CO2 equivalent, with a density of 0.55 tons of CO2 equivalent per 1,000 tons of total cargo throughput[173]. - Scope 1 emissions from fuel combustion included 1,121.59 tons from diesel and 14.81 tons from liquefied petroleum gas, representing 49% of total emissions[173]. - Scope 2 emissions from purchased electricity accounted for 1,233.56 tons, which is 48% of total emissions[173]. - The company has identified five key areas for improvement in its environmental, social, and governance (ESG) performance, including waste and wastewater management, occupational health and safety, customer service, sustainable development, and anti-corruption[165]. - The company aims to enhance communication with stakeholders to improve economic efficiency while managing ESG-related risks[165]. - The company is committed to promoting environmentally friendly and efficient terminal operations, considering the development of relevant policies in the future[184]. - The group is committed to reducing greenhouse gas emissions, recognizing that electricity consumption is a major contributor to its carbon footprint[199]. Corporate Governance - The company has been managed by its founder, Mr. Yang Jinming, for over 14 years, who also serves as the Chairman and CEO[67]. - The management team has extensive experience, with Mr. Ding Fuxing, the General Manager, having over 25 years in corporate management[84]. - The company emphasizes the importance of compliance and corporate governance, with dedicated roles for monitoring financial and regulatory matters[76]. - The board includes members with significant experience in banking and finance, enhancing the company's financial oversight capabilities[80]. - The company has adopted a standard code of conduct for securities trading, confirming compliance throughout the reporting year[95]. - The board has established three defined committees: the remuneration committee, the nomination committee, and the audit committee, with most members being independent non-executive directors[114]. - The company ensures timely public disclosure of inside information, adhering to the Securities and Futures Ordinance and listing rules[149]. Employee and Management Information - As of December 31, 2020, the group employed 241 employees, with total employee costs approximately RMB 23.8 million, a slight decrease from RMB 24.0 million in 2019[51]. - The company secretary has confirmed that he has received no less than 15 hours of relevant professional training during the year ended December 31, 2020[151]. - Each director is required to retire at least once every three years, with one-third of the directors retiring at each annual general meeting[138]. - The company has established a service agreement with each director for a term of three years, subject to renewal[138].