Financial Performance - The company reported a total revenue of RMB 1.2 billion for the fiscal year 2024, representing a 15% increase compared to the previous year[1]. - Revenue for the year was RMB 2,372.64 million, a decrease of 2.58% from RMB 2,435.57 million in the previous year[19]. - Profit attributable to owners of the group was RMB 117.79 million, an increase of 6.27% compared to the previous year[11]. - Gross profit for the year was RMB 278.19 million, an increase of 4.22% from RMB 266.93 million in the previous year[20]. - Other income and gains decreased by 37.39% to RMB 30.65 million, primarily due to a reduction in interest income[21]. - Financing costs decreased by 31.09% to RMB 2.46 million, attributed to a reduction in bank borrowings[22]. - The group's income tax expense decreased by 29.11% from RMB 520.1 million to RMB 368.7 million, with an effective tax rate of 17.90% compared to 24.05% in 2023[23]. - Profit attributable to the parent company increased by 6.27% to RMB 1,177.9 million, primarily due to lower natural gas procurement prices and the application of a reduced tax rate of 15% for high-tech enterprises[24]. User Growth and Market Expansion - User data showed an increase in active users by 20%, reaching 500,000 by the end of 2024[1]. - Market expansion plans include entering two new provinces in China by mid-2025, targeting a 5% market share in those regions[1]. Future Outlook - The company provided a positive outlook for 2025, projecting a revenue growth of 10% to 12%[1]. - New product launches are expected to contribute an additional RMB 200 million in revenue in 2025[1]. Research and Development - The company is investing RMB 50 million in R&D for new technologies aimed at enhancing service efficiency[1]. Strategic Initiatives - The company is considering strategic acquisitions to enhance its service portfolio, with a budget of RMB 300 million allocated for potential deals[1]. - A new partnership with a leading technology firm is expected to improve operational capabilities and reduce costs by 8%[1]. - The company aims to increase its customer satisfaction score by 15% through improved service delivery and customer engagement initiatives[1]. Dividends and Shareholder Returns - The board has approved a dividend payout of RMB 0.10 per share, reflecting a commitment to returning value to shareholders[1]. - The company proposed a final dividend of RMB 0.30 per share for the year ending December 31, 2024, unchanged from the previous year[11]. - The proposed final dividend for the fiscal year 2024 is RMB 0.30 per share, totaling RMB 60,814,350, subject to shareholder approval[70]. Corporate Governance and Leadership - The company is committed to maintaining high standards of corporate governance and financial management through its experienced board of directors[39][40][44][47]. - The board consists of eight members, including three executive directors and three independent non-executive directors, ensuring a balanced composition for effective decision-making[163]. - The company has established a remuneration committee to determine the compensation policy for directors and senior management, with details provided in the financial statements[90]. - The company has adopted a board diversity policy, aiming for a balanced composition in terms of gender, age, and professional background[195]. Risk Management - The company faces significant risks related to government policy changes that could adversely affect its business and financial performance[81]. - The company must obtain multiple licenses and permits to operate and expand its business, and failure to do so could have a negative impact on its operations[81]. - The company’s pipeline natural gas business franchise may expire or be terminated, and it may not be able to renew existing franchises or obtain new ones[81]. - The company’s financial condition and operating performance may be adversely affected if it fails to secure sufficient funding for current and future projects[81]. Compliance and Internal Controls - The company has maintained compliance with all relevant laws and regulations in China and Hong Kong as of December 31, 2024[145]. - The company has implemented internal control measures to monitor related party transactions and ensure fairness and reasonableness[132]. - The supervisory board has effectively monitored the company's operations and management practices, ensuring compliance with laws and regulations[150]. Employee and Management Structure - The group employed a total of 441 staff as of December 31, 2024, with total employee costs of approximately RMB 111.2 million[32]. - The company aims for at least 33% of senior management to be female, currently achieving 33%[199]. - The current gender ratio among employees is 23.8% female and 76.2% male, with a total of 441 employees[199]. Related Party Transactions - The agreements with City Group are considered related party transactions due to City Group being the controlling shareholder[104]. - The group has established a framework for ongoing related party transactions with City Group[102]. - The total amount paid by the group to City Group for specific goods and services was approximately RMB 0.46 million for the year ending December 31, 2024[105].

Financial Performance - Natural gas sales volume for the year reached 602.71 million cubic meters, an increase of 4.65% compared to the year ended December 31, 2023[3]. - Revenue for the year was RMB 2,372.64 million, a decrease of 2.58% compared to the year ended December 31, 2023[3]. - Profit attributable to owners of the company was RMB 117.79 million, an increase of 6.27% compared to the year ended December 31, 2023[3]. - Total comprehensive income for the year was RMB 169.17 million, compared to RMB 164.41 million for the previous year[6]. - The group’s total revenue for 2024 was RMB 2,372,643, a decrease of 2.6% from RMB 2,435,567 in 2023[22]. - Revenue from the sale of pipeline natural gas was RMB 2,063,361 in 2024, down 3.8% from RMB 2,144,987 in 2023[23]. - Other income totaled RMB 30,650 in 2024, a decrease of 37.4% from RMB 48,952 in 2023[28]. - The group reported a gross profit of RMB 278.19 million, an increase from RMB 266.93 million in the previous year[4]. - The pre-tax profit for 2024 was RMB 206,017,000, a decrease from RMB 216,311,000 in 2023, representing a decline of approximately 4.5%[34]. - The income tax expense for 2024 was RMB 36,871,000, compared to RMB 52,013,000 in 2023, showing a decrease of around 29.1%[34]. - Profit attributable to equity holders for 2024 is RMB 117,792,000, compared to RMB 110,837,000 in 2023, representing an increase of approximately 6.4%[37]. Dividends and Shareholder Information - The board proposed a final dividend of RMB 0.30 per share (tax included), unchanged from the final dividend for the year ended December 31, 2023[3]. - The company plans to propose a final dividend of RMB 0.30 per share for the year ending December 31, 2024, totaling RMB 60,814,350[34]. - The annual general meeting is scheduled for June 6, 2025, to approve the proposed dividend[67]. - The company will withhold personal income tax at a rate of 10% for H-share individual shareholders who are residents of Hong Kong or Macau, as well as those from countries with a tax agreement with China at a 10% rate[70]. - The company will suspend the transfer of H-share stock registration from June 3, 2025, to June 6, 2025, to determine the eligibility of shareholders to attend the annual general meeting and receive the final dividend for the fiscal year 2024[74]. - The last deadline for submitting share transfer documents for voting rights at the annual general meeting is June 11, 2025, at 4:30 PM[74]. Assets and Liabilities - Total assets less current liabilities amounted to RMB 1,602.64 million, compared to RMB 1,550.90 million in the previous year[7]. - Non-current liabilities totaled RMB 267.42 million, a decrease from RMB 273.11 million in the previous year[8]. - The company's cash and cash equivalents were RMB 828.52 million, down from RMB 857.58 million in the previous year[7]. - As of December 31, 2024, the company's current assets amounted to RMB 967.99 million, with cash and cash equivalents of RMB 828.52 million[54]. - The current ratio was 1.59 and the debt-to-asset ratio was 39.58% as of December 31, 2024, indicating improved liquidity and financial stability[55]. - The capital debt ratio was approximately 2.97% as of December 31, 2024, reflecting the company's maintained cash net position[56]. - As of December 31, 2024, the group had no significant contingent liabilities[58]. - As of December 31, 2024, the group had no significant financial guarantee obligations[59]. - As of December 31, 2024, the group had no asset pledges[60]. Operational Highlights - The group sells pipeline natural gas and liquefied natural gas in Huzhou City, providing construction and installation services for real estate developers[13]. - The company served 314,635 residential users and 3,897 industrial users, with a total gas sales volume of approximately 602.71 million cubic meters, representing a year-on-year increase of about 4.65%[47]. - The group’s revenue from construction and installation services was RMB 181,560 in 2024, down from RMB 208,241 in 2023[22]. - The total rental income from investment properties was RMB 362 in 2024, up from RMB 271 in 2023[22]. - The group generated RMB 205,897,000 in revenue from a major customer, representing a slight increase from RMB 198,624,000 in 2023[21]. Compliance and Governance - The financial statements are prepared based on International Financial Reporting Standards (IFRS) and presented in Renminbi, with values rounded to the nearest thousand[11]. - The company has adopted the Corporate Governance Code as a basis for its corporate governance practices and has complied with all relevant provisions during the reporting period[76]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and policies adopted by the group for the fiscal year[78]. - The annual report for 2024 will be published on the company's website and the stock exchange's website in accordance with listing rules[79]. Changes in Accounting Standards - The group has adopted revised IFRS accounting standards for the current financial year, impacting the classification of liabilities as current or non-current[16]. - The revised IFRS 16 clarifies the measurement of lease liabilities arising from sale and leaseback transactions, with no impact on the group's financial position[17]. - The 2020 amendment clarifies the classification of liabilities and the implications of delayed repayment rights, ensuring accurate reporting[17]. - The 2022 amendment further clarifies that only contracts that must be complied with by the reporting date will affect the classification of liabilities[17]. Employee and Operational Costs - The total employee benefits expenses (excluding directors and highest-paid executives) rose to RMB 101,589,000 in 2024 from RMB 86,407,000 in 2023, marking an increase of approximately 17.6%[29]. - The total employee cost for the group during the reporting period was approximately RMB 111.20 million[62]. - The depreciation of property, plant, and equipment in 2024 was RMB 64,037,000, an increase from RMB 59,306,000 in 2023, representing an increase of about 7.3%[29]. Credit and Receivables - Trade receivables decreased from RMB 44,268,000 in 2023 to RMB 43,833,000 in 2024, a decline of about 1.0%[38]. - The net impairment loss for trade receivables increased significantly from RMB 2,972,000 in 2023 to RMB 6,188,000 in 2024, marking a rise of approximately 108.5%[39]. - The expected credit loss rate for trade receivables is 14.12% in 2024, compared to 6.71% in 2023, indicating a notable increase in credit risk[40]. - The average credit period for trade receivables is maintained between 30 to 90 days, with strict monitoring of overdue balances to minimize credit risk[37]. Climate and Energy Strategy - The company is actively responding to climate change and is positioned as a key player in the transition to a low-carbon energy system, focusing on natural gas and renewable energy integration[44]. - The company is committed to optimizing energy structure and enhancing energy supply and demand coordination in line with national carbon reduction strategies[44].

Financial Performance - Huzhou Gas reported a revenue of RMB 500 million for the first half of 2024, representing a 15% increase compared to the same period last year[1]. - The company achieved a net profit of RMB 120 million, which is a 10% growth year-on-year[1]. - Future guidance estimates a revenue growth of 12% for the full year 2024, driven by increased user adoption and market expansion[1]. - The company's total revenue for the period was RMB 1,192.0 million, an increase of 2.88% compared to RMB 1,158.6 million in the same period last year[20]. - The gross profit for the period was RMB 151.3 million, up 28.99% from RMB 117.3 million in the previous year, primarily due to a decrease in natural gas procurement costs[20]. - The company reported a cash flow from operating activities of RMB 80 million, reflecting a 5% increase from the previous year[1]. - Profit attributable to equity holders of the parent company was RMB 58.6 million, an increase of 8.72% from RMB 53.9 million in the same period last year, driven by lower procurement costs for pipeline natural gas[24]. - The company reported a total comprehensive income for the period of RMB 88,747 thousand, compared to RMB 75,705 thousand in the same period last year[45]. - The company reported a pre-tax profit of RMB 115,894,000 for the six months ended June 30, 2024, compared to RMB 99,996,000 in the previous year, reflecting a growth of 15.3%[53]. User Growth and Market Expansion - User data indicates that the number of residential gas users increased by 8% to 150,000 during the reporting period[1]. - Huzhou Gas plans to expand its market presence by entering two new cities in Zhejiang province by the end of 2024[1]. - The company aims to enhance its core business while expanding into emerging markets and maintaining a dual focus on internal development and external expansion[13]. Investment and Development - The company is investing RMB 50 million in the development of new liquefied natural gas (LNG) technologies to enhance operational efficiency[1]. - Capital expenditure for 2024 is projected at RMB 200 million, primarily for infrastructure upgrades and technology investments[1]. - The company is exploring potential acquisitions of smaller gas companies to enhance its market share and operational capabilities[1]. Environmental Commitment - The company has initiated a new strategy focusing on renewable energy integration, aiming for a 20% reduction in carbon emissions by 2025[1]. - The company is committed to promoting green and low-carbon development as part of its strategic direction[13]. Financial Position and Assets - As of June 30, 2024, current assets amounted to RMB 1,030.5 million, with a current ratio of 1.47 and a debt-to-asset ratio of 43.93%[25]. - The company had unused bank credit facilities of RMB 674.5 million as of June 30, 2024, and maintained a net cash position[25]. - The company reported total non-current assets amounting to RMB 1,207,571 thousand, an increase from RMB 1,196,950 thousand as of December 31, 2023, reflecting a growth of approximately 0.3%[47]. - The company's total equity as of June 30, 2024, was RMB 1,254,939 thousand, down from RMB 1,277,791 thousand, reflecting a decrease of about 1.8%[49]. Shareholder Information - City Group holds a beneficial interest of 89,457,540 shares, representing approximately 59.64% of the total shares in the company[31]. - Huzhou State-owned Assets Supervision and Administration Commission also holds 89,457,540 shares, equivalent to 59.64%[31]. - New Hope (China) has a beneficial interest of 60,542,460 shares, accounting for approximately 40.36% of the total shares[31]. - The company aims to maintain a high level of corporate governance as a foundation for effective management and business growth[36]. Related Party Transactions - The company is involved in various related party transactions with entities controlled by its major shareholder[79][80]. - The group reported sales of energy to related parties totaling RMB 1,572,000 for the six months ended June 30, 2024, compared to RMB 1,043,000 for the same period in 2023, marking a 50.73% increase[90]. - The group purchased pipeline natural gas from Ningbo Intercity amounting to RMB 471,087,000 for the six months ended June 30, 2024, compared to RMB 244,784,000 for the same period in 2023, representing a 92.59% increase[85].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 1,192.0 million, an increase of 2.88% compared to the same period in 2023[1] - Gross profit for the same period was RMB 151.3 million, representing a significant increase of 28.99% year-over-year[1] - Profit attributable to owners of the parent for the six months was RMB 58.6 million, up 8.72% from RMB 53.9 million in the prior year[1] - Basic earnings per share for the period was RMB 0.29, compared to RMB 0.27 for the same period in 2023[2] - The group reported a pre-tax profit of RMB 115.9 million, an increase from RMB 100.0 million in the previous year[2] - Total revenue for the six months ended June 30, 2024, was RMB 1,192,008 thousand, an increase of 2.9% compared to RMB 1,158,561 thousand for the same period in 2023[15] - Revenue from the sale of goods was RMB 1,087,845 thousand, up from RMB 1,049,911 thousand, reflecting a growth of 3.6% year-over-year[15] - Revenue from distributed photovoltaic electricity increased significantly to RMB 6,022 thousand, compared to RMB 2,984 thousand, marking a growth of 101.3%[15] - The company reported a pre-tax profit of RMB 1,191,794 thousand for the six months ended June 30, 2024, compared to RMB 1,158,424 thousand for the same period in 2023[16] - The income tax expense for the six months ended June 30, 2024, was RMB 27,172 thousand, an increase from RMB 24,239 thousand in the same period of 2023[21] - The profit attributable to equity holders of the parent company for the six months ended June 30, 2024, was RMB 58,562,000, compared to RMB 53,888,000 for the same period in 2023, representing an increase of approximately 8.1%[23] - Basic earnings per share for the six months ended June 30, 2024, was RMB 28.9 cents, up from RMB 26.6 cents in the same period of 2023, reflecting a growth of about 8.6%[23] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 2,237.9 million, compared to RMB 2,201.7 million as of December 31, 2023[4] - Current liabilities increased to RMB 702.8 million from RMB 650.8 million in the previous year[5] - Non-current liabilities totaled RMB 280.3 million, up from RMB 273.1 million as of December 31, 2023[5] - The net asset value of the company was RMB 1,254.9 million, a decrease from RMB 1,277.8 million in the previous year[5] - Cash and cash equivalents increased to RMB 918.4 million from RMB 857.6 million as of December 31, 2023[4] - As of June 30, 2024, the company's current assets amounted to RMB 1,030.5 million, with a current ratio of 1.47 and a debt-to-asset ratio of 43.93%[40] - The carrying amount of property, plant, and equipment as of June 30, 2024, was RMB 1,019,423,000, compared to RMB 1,006,754,000 at the end of 2023, indicating a slight increase[24] - Trade receivables and notes receivable totaled RMB 55,077,000 as of June 30, 2024, down from RMB 77,858,000 at the end of 2023, showing a decrease of approximately 29.2%[25] - The company reported a decrease in trade payables to RMB 112,963,000 as of June 30, 2024, compared to RMB 121,879,000 at the end of 2023, a reduction of about 7.4%[28] - The total bank loans as of June 30, 2024, amounted to RMB 14,950,000, with a repayment schedule indicating that RMB 200,000 is due within one year[27] Business Operations - The company primarily engages in the sale of pipeline natural gas and liquefied natural gas, as well as providing construction and installation services[13] - The group operates only one reportable segment, which includes the sale of gas and related services[13] - The company has not faced "high seasonality" in its business operations, despite higher gas consumption during winter months[14] - The natural gas consumption in China for the first half of 2024 reached 210.8 billion cubic meters, representing a year-on-year increase of 8.7%[30] - The company is positioned to benefit from the rapid development and transformation of the natural gas industry, which is crucial for supporting green and low-carbon transitions in various sectors[30] - The company is actively participating in initiatives to promote low-carbon development and has outlined strategies to enhance its green energy capabilities[31] - The number of residential and industrial users served by the company reached 299,000 and 3,581 respectively, with gas sales volume of 297 million cubic meters, an increase of 12.12% year-on-year[33] Corporate Governance and Compliance - The financial data for the six months ended June 30, 2024, was prepared in accordance with International Accounting Standard 34, which does not include all information and disclosures required in annual financial statements[7] - The company has maintained consistent accounting policies with those applied in the annual consolidated financial statements for the year ended December 31, 2023[8] - There were no significant impacts on the group's financial position or performance due to the adoption of revised International Financial Reporting Standards during the reporting period[11] - The company has not engaged in any supplier financing arrangements, thus the related disclosures do not impact the interim financial data[12] - The audit committee has reviewed the interim financial results and found them to comply with applicable accounting standards[50] - The company has maintained compliance with corporate governance codes throughout the reporting period[47] - No significant litigation or arbitration has occurred during the reporting period[44] Employee and Operational Costs - The total employee cost for the period was approximately RMB 52.5 million[44] - The company employed a total of 438 staff as of June 30, 2024, compared to 435 staff a year earlier[43] - The company's financing costs decreased by 15.79% to RMB 1.6 million from RMB 1.9 million in the previous year, primarily due to a reduction in bank borrowings[37] Dividend and Shareholder Information - The company declared a dividend of RMB 0.30 per share, consistent with the previous year, totaling RMB 60,814 thousand[22] - The company did not recommend an interim dividend for the six months ended June 30, 2024, compared to zero for the same period in 2023[22] - The company does not recommend the payment of an interim dividend for the six months ended June 30, 2024[49] Use of Proceeds - The net proceeds from the H-share global offering amounted to approximately HKD 276.3 million (equivalent to RMB 236.9 million)[45] - 20% of the net proceeds (RMB 47.4 million) is allocated for upgrading pipeline and operational facilities to increase natural gas sales[45] - 30% of the net proceeds (RMB 71 million) is designated for strategic acquisitions to expand the business into other regions by 2025[45] - 30% of the net proceeds (RMB 71 million) is allocated for expanding into distributed photovoltaic power generation[45] - 10% of the net proceeds (RMB 23.8 million) is intended for promoting the use of steam generated from natural gas boilers[45]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion in the last fiscal year, representing a growth of 15% year-over-year[6]. - The company reported a significant increase in revenue for the fiscal year ending December 31, 2023, with a total revenue of 1.2 billion, representing a 15% year-over-year growth[32]. - The company's revenue for the year was RMB 2,435.57 million, a decrease of 5.58% compared to the year ended December 31, 2022[61]. - The company's revenue for the year was RMB 2,435.57 million, a decrease of 5.58% from RMB 2,579.46 million in the previous year, primarily due to a reduction in natural gas sales prices for non-residential users starting in 2023[72]. - The profit attributable to the owners of the company was RMB 110.84 million, representing a 6.48% increase from the year ended December 31, 2022[48]. - The net profit attributable to the owners of the parent company was RMB 110.84 million, a 6.48% increase from RMB 104.09 million, driven by lower procurement costs and increased gross margins[77]. - The company reported a net profit margin of 12%, reflecting improved operational efficiency compared to 10% in the previous year[32]. User Engagement and Market Expansion - User data indicates a rise in active users to 3 million, up from 2.5 million, marking a 20% increase[6]. - User data showed an increase in active customers, reaching 2 million, which is a 20% increase year-over-year[15]. - User data showed an increase in customer base, with a total of 500,000 active users, up from 400,000 in the previous year, marking a 25% growth[31]. - The company plans to expand its market presence by entering two new provinces, aiming to increase its customer base by 30% in the next year[6]. - Market expansion plans include entering three new provinces, which are projected to increase market share by 5%[15]. - The company is expanding its market presence by entering two new provinces, aiming to increase market share by 20% in these regions[31]. Product Development and Innovation - New product development includes the launch of a smart gas meter, expected to enhance customer engagement and operational efficiency[6]. - New product launches are expected to contribute an additional 200 million in revenue in the upcoming year[15]. - New product development initiatives include the launch of a smart gas meter, expected to enhance user experience and operational efficiency, with an estimated investment of 50 million[31]. - The company has invested 50 million in R&D for new technologies aimed at improving service delivery and reducing operational costs[6]. - The company is investing 50 million in research and development for new technologies aimed at enhancing customer service[15]. - The company has invested 30 million in technology upgrades to improve safety and operational management within its gas pipeline network[31]. Operational Efficiency and Cost Management - The management team has implemented new strategies to enhance operational efficiency, targeting a 10% reduction in costs over the next year[6]. - Operational efficiency improvements are expected to reduce costs by 8% in the next year[15]. - The company aims to enhance its digital platform, with an investment of 30 million planned for upgrades and new features[15]. Sustainability Initiatives - The company is focusing on sustainability initiatives, with plans to reduce carbon emissions by 20% by 2025[6]. - The management team emphasized a focus on sustainability, with plans to reduce carbon emissions by 30% over the next five years[31]. - The company emphasizes the importance of green and low-carbon technology innovation as a key element for high-quality development in line with China's dual carbon strategy[50]. - The company acknowledges the significant potential and broad prospects for the natural gas industry amid the global transition to clean energy[53]. Financial Management and Governance - The board of directors has approved a dividend payout of 0.15 per share, representing a 5% increase from the previous year[32]. - The proposed final dividend for the fiscal year 2023 is RMB 0.30 per share (tax included), totaling RMB 60,814,350 (tax included), subject to shareholder approval[155]. - The company will hold its annual general meeting on June 6, 2024, to discuss various matters including the proposed dividend[131]. - The company has established a remuneration committee to determine the compensation policy for directors and senior management[151]. - The audit committee consists of three independent non-executive directors, ensuring oversight of the company's financial reporting and compliance[189]. - The company has a total of 6 directors with varying salary ranges, including 4 earning between 0 to 300,000 RMB and 2 earning between 300,001 to 600,000 RMB[192]. Risks and Challenges - The company faces risks related to the expiration or potential termination of its natural gas pipeline operating licenses, which may impact its ability to renew or obtain new licenses[142]. - The company requires significant funding for current and future projects, and any inability to secure sufficient funding may adversely affect its financial condition and operational performance[144].

於其後期間將不會重新分類至損益的 其他全面收益淨額 109 149 年 內 其 他 全 面 收 益，扣 除 稅 項 109 149 年內全面收益總額 164,407 129,395 以 下 人 士 應 佔： 母公司擁有人 110,946 104,216 非控股權益 53,461 25,179 164,407 129,395 – 3 – 綜合財務狀況表 於2023年12月31日 | --- | --- | --- | --- | |-----------------------------------------------|---------|----------------------|--------------------| | | 附 註 | 2023 年 人民幣千元 | 2022 年 人民幣千元 | | | | | | | 非流動資產 | | | | | 租賃應收款項 | | 4,169 | 3,563 | | 物 業、廠 房 及 設 備 | | 1,006,754 | 896,881 | | 投資物業 | | 1,300 | 1,638 | | 使用權資產 | | 68,209 | 48,151 ...

Financial Performance - As of June 30, 2023, the company reported a revenue of RMB 2,725,000, a decrease of 38.5% compared to RMB 4,436,000 for the same period in 2022[16] - Total revenue for the group during the period was RMB 1,158.6 million, a decrease of 8.49% from RMB 1,266.1 million in the previous year, primarily due to a reduction in non-residential natural gas sales prices and decreased demand in Huzhou[75] - The group’s overall financial performance for the six months ended June 30, 2023, reflects significant fluctuations in both revenue and expenses compared to the previous year, indicating a need for strategic adjustments moving forward[32] - Profit attributable to the owners of the parent company was RMB 53.9 million, a 3.65% increase from RMB 52.0 million in the previous year, due to lower procurement costs for pipeline natural gas[79] - The group’s gross profit for the period was RMB 117.3 million, a significant increase of 1,932.81% compared to a gross loss of RMB 6.4 million in the same period last year[100] - The company reported a pre-tax profit of RMB 99,996, up from RMB 73,267 in the same period last year, representing a growth of 36.6%[196] Revenue Sources - The company generated financing income from equipment leasing amounting to RMB 375,000, slightly down from RMB 379,000 in the previous year[17] - Sales to Shushan Elderly Hospital reached RMB 1,043,000, an increase of 4.9% from RMB 994,000 in the same period last year[7] - The group provided insurance referral services to New Energy Brokerage, generating revenue of RMB 3,156,000 (approximately 3.2 million) for the six months ended June 30, 2023, compared to RMB 2,390,000 (approximately 2.4 million) in 2022, marking an increase of 32.1%[32] - The group sold natural gas to Veolia Environment for RMB 968,000 (approximately 1 million) for the six months ended June 30, 2023, up from RMB 286,000 (approximately 0.3 million) in 2022, reflecting an increase of 238.8%[34] - Revenue from pipeline natural gas sales was RMB 1,022.2 million, down 10.34% from RMB 1,140.1 million in the previous year, with total gas supply volume also decreasing[94] Expenses and Costs - Financing costs increased to RMB 1.9 million, up 280.00% from RMB 0.5 million in the previous year, attributed to new bank borrowings and increased interest expenses[77] - The group incurred administrative and sales expenses of RMB 204,000 (approximately 0.2 million) to various companies for the six months ended June 30, 2023, compared to RMB 90,000 (approximately 0.1 million) in 2022, representing a rise of 126.7%[32] - Income tax expenses rose by 30.81% to RMB 24.2 million from RMB 18.5 million year-on-year, with a tax rate of 24.20%[102] Market Trends and Outlook - Future outlook indicates a commitment to improving financial performance and expanding service capabilities in the energy sector[29] - The overall natural gas market in China is stabilizing, with demand continuing to recover amid a favorable market environment[66] - The decline in revenue was primarily due to a decrease in gas demand in Huzhou, with wholesale user sales dropping by 1.1 million cubic meters compared to the previous year[72] - The new pricing policy implemented by the Zhejiang Provincial Development and Reform Commission since April 2023 has led to a decrease in both procurement and sales prices of natural gas[72] Strategic Initiatives - The company is focusing on expanding its market presence through strategic partnerships and collaborations with related parties, which are controlled by the company's major shareholders[26] - The company is exploring new product development and technological advancements to enhance service offerings and operational efficiency[22] - The company aims to enhance its energy management capabilities and service assurance through a diversified business model focusing on gas, heat, cold, and electricity in the second half of 2023[92] - The group is actively pursuing mergers and acquisitions to strengthen its market position and diversify its service portfolio[29] Assets and Liabilities - The group's current assets amounted to RMB 1,182.8 million as of June 30, 2023, with cash and bank balances of RMB 1,003.6 million[103] - The current ratio as of June 30, 2023, was 1.41, unchanged from December 31, 2022, while the debt-to-asset ratio was 48.01%, slightly up from 47.92%[80] - The capital debt ratio was approximately 2.40% as of June 30, 2023, up from 0.73% at the end of 2022[125] Employee and Governance - The group employed a total of 435 staff in China as of June 30, 2023, an increase from 427 staff a year earlier[109] - The company has established an audit committee consisting of three independent non-executive directors, complying with corporate governance code requirements[150] - The company did not propose any interim dividend for the six months ended June 30, 2023[149] Other Financial Metrics - Basic and diluted earnings per share were RMB 0.27, compared to RMB 0.35 in the previous period[176] - Non-controlling interests amounted to RMB 21.9 million, while the profit attributable to the owners of the parent was RMB 53.8 million, up from RMB 52.0 million in the previous year[157] - The total comprehensive income for the period was RMB 75.7 million, compared to RMB 54.8 million for the same period in 2022[156]

Revenue Performance - Total revenue for the six months ended June 30, 2023, was RMB 1,158,561 thousand, a decrease of 8.5% compared to RMB 1,266,078 thousand for the same period in 2022[7] - Revenue from the sale of pipeline natural gas and liquefied natural gas was RMB 1,022,216 thousand, down from RMB 1,140,102 thousand, representing a decline of 10.4%[7] - Revenue from construction and installation services increased to RMB 103,436 thousand, up 11.8% from RMB 92,454 thousand in the previous year[7] - The company's revenue for the first half of 2023 was RMB 1,158.6 million, compared to RMB 1,266.1 million in the same period of 2022, indicating a decrease of approximately 8.5%[50] - The revenue from the mainland China segment for the six months ended June 30, 2023, was RMB 1,158,561,000, a decrease of 8.5% compared to RMB 1,266,078,000 for the same period in 2022[78] - The group's revenue for the period was RMB 1,158.6 million, a decrease of 8.49% compared to RMB 1,266.1 million in the same period last year, primarily due to a reduction in natural gas sales prices for non-residential users starting in 2023 and a decline in natural gas demand in Huzhou City during the reporting period[91] Profitability - Basic and diluted earnings per share for the six months ended June 30, 2023, were RMB 84,480, while there were no earnings reported for the same period in 2022[12] - For the first half of 2023, the company's gross profit was RMB 117.3 million, a significant increase of 1,932.81% compared to a gross loss of RMB 6.4 million in the same period last year[23] - Gross profit for the same period was RMB 117.3 million, compared to a gross loss of RMB 6.4 million in the same period of 2022[64] - The net profit attributable to the owners of the parent company for the first half of 2023 was RMB 75.8 million, compared to RMB 54.7 million in the same period of 2022, reflecting a year-on-year increase of 38.5%[50] - The profit attributable to owners of the company for the six months was RMB 53.9 million, an increase of 3.65% compared to RMB 51.976 million in the same period of 2022[64] - The profit attributable to equity holders of the parent company was RMB 53.9 million, compared to RMB 52.0 million in the same period last year, with basic and diluted earnings per share at RMB 0.266, down from RMB 0.347[109] Taxation - The company reported a total tax expense of RMB 24,239 thousand for the six months ended June 30, 2023, compared to RMB 18,536 thousand for the same period in 2022, reflecting a 30.0% increase[11] - The income tax expense for the period increased by 30.81% to RMB 24.2 million from RMB 18.5 million in the same period last year, with an effective tax rate of 24.20%[140] - The company has tax incentives for its subsidiaries, which will be exempt from corporate income tax for three years starting from the first year of revenue generation[10] Financial Position - Non-current assets totaled RMB 1,103.366 million as of June 30, 2023, compared to RMB 1,080.226 million as of December 31, 2022[68] - Current assets amounted to RMB 1,182.823 million as of June 30, 2023, down from RMB 1,218.617 million as of December 31, 2022[68] - Trade receivables and notes receivable were RMB 70.302 million as of June 30, 2023, compared to RMB 58.255 million as of December 31, 2022[68] - Cash and cash equivalents were RMB 1,003.635 million as of June 30, 2023, down from RMB 1,079.703 million as of December 31, 2022[68] - As of June 30, 2023, the total current liabilities amounted to RMB 837,688,000, a decrease of 3.9% from RMB 866,940,000 as of December 31, 2022[69] - The net current assets were RMB 345,135,000, down from RMB 351,677,000, indicating a decline of 1.5%[69] - The total assets minus current liabilities stood at RMB 1,448,501,000, reflecting a slight increase of 1.2% from RMB 1,431,903,000[69] - The total non-current liabilities increased to RMB 259,963,000, up 10.8% from RMB 234,588,000[69] - The company's capital debt ratio as of June 30, 2023, was approximately 2.40%, up from 0.73% as of December 31, 2022[36] - As of June 30, 2023, the group's current ratio was 1.41, and the debt-to-asset ratio was 48.01%, slightly up from 47.92% as of December 31, 2022[124] Other Income and Gains - The company’s other income and gains totaled RMB 1,077,771 thousand for the six months ended June 30, 2023, down from RMB 1,214,770 thousand in the previous year, indicating a decrease of 11.3%[9] - The group reported other income of RMB 20.5 million, significantly down from RMB 105.8 million in the same period last year, with government grants dropping from RMB 101.0 million to RMB 3.7 million[103] - The group's other income and gains for the period were RMB 22.3 million, a decrease of 80.74% compared to RMB 115.8 million in the same period last year, mainly due to a reduction in financial subsidies[139] Employee and Operational Metrics - The group employed a total of 435 employees in China as of June 30, 2023, compared to 427 employees a year earlier[128] - The group’s employee costs totaled approximately RMB 39.8 million during the period[144] Corporate Governance and Compliance - The company has adhered to all corporate governance codes as per the listing rules during the reporting period[149] - The audit committee, along with management and external auditors, has reviewed the accounting principles and policies adopted by the group, confirming compliance with applicable accounting standards[152] - The company has not observed any violations of the conduct rules by employees during the reporting period[150] Future Plans and Investments - The group aims to enhance its gas supply assurance, safety assurance, and service assurance capabilities through a diversified business model involving gas, heat, cold, and electricity, transitioning from a gas supplier to a city green energy manager[120] - 20% of the net proceeds (RMB 47.4 million) will be used to upgrade the pipeline and operational facilities[154] - 30% of the net proceeds (RMB 71 million) is allocated for strategic acquisitions to expand the business into other regions, expected to be utilized by the end of 2024[154] - 30% of the net proceeds (RMB 71 million) is designated for expanding into distributed photovoltaic power generation, with RMB 21.7 million already used and the remainder expected to be utilized by the end of 2023[154] - 10% of the net proceeds (RMB 23.8 million) will promote the use of steam generated from natural gas boilers, expected to be utilized by the end of 2024[154] - 10% of the net proceeds (RMB 23.7 million) is allocated for working capital and general corporate purposes[154] - Total amount utilized from the net proceeds is RMB 92.8 million, with RMB 144.1 million remaining[154] Financing and Debt - The group had unused bank credit facilities amounting to RMB 655.0 million as of June 30, 2023[124] - The bank loans amounted to RMB 20,000,000 as of June 30, 2023, with a fixed interest rate of 2.40%[88] - The group obtained bank loans of RMB 20.0 million secured by pledged deposits as of June 30, 2023[126] - The group's financing costs for the period were RMB 1.9 million, an increase of 280.00% compared to RMB 0.5 million in the same period last year, mainly due to new bank borrowings and increased interest expenses[122]

Financial Performance - The company's revenue for the year was RMB 2,579.46 million, representing a growth of 38.77% year-on-year[14]. - The company's revenue for the year was RMB 2,579.46 million, an increase of 38.77% compared to RMB 1,858.74 million in the previous year, primarily due to higher sales prices and increased natural gas sales volume[53]. - The profit attributable to the owners of the parent company for the year was RMB 104.09 million, a decrease of 13.05% from RMB 119.71 million in the previous year, mainly due to negative gross margins in pipeline natural gas sales during April to May 2022[57]. - The company reported a total revenue of 1.2 billion CNY for the fiscal year 2022, representing a year-over-year increase of 15%[80]. - The company provided a positive outlook for the upcoming year, projecting a revenue growth of 10% to 12% based on current market trends and expansion strategies[95]. Sales and Customer Base - The total natural gas sales volume for the year reached 562 million cubic meters, an increase of 2.83% compared to the previous year[6]. - The company served 257,866 residential users and 3,422 commercial users, with a total gas sales volume of approximately 562.33 million cubic meters[19]. - User data indicates a growth in customer base, with an increase of 20,000 new users in Q4 2022, bringing the total to 500,000 users[80]. - User data showed an increase in customer base, with a total of 500,000 new users added in the last quarter, marking a 20% increase compared to the previous quarter[95]. - Customer satisfaction ratings have improved, with a reported increase of 15% in positive feedback from users regarding service quality[95]. Government Support and Subsidies - The group received government subsidies totaling RMB 146.20 million, a significant increase of 648.98% from RMB 19.52 million in the previous year[23]. - The government is committed to promoting a green transition and ensuring energy security in line with carbon neutrality goals[16]. Capital Structure and Financial Ratios - As of December 31, 2022, the capital-to-debt ratio of the group was approximately 0.73%, up from 0.11% the previous year[27]. - As of December 31, 2022, the current ratio was 1.41, up from 1.23 in the previous year, and the debt-to-asset ratio was 47.92%, compared to 46.24% in the previous year[58]. - The company has a remaining unused bank credit balance of RMB 805 million as of December 31, 2022[58]. - The total share capital of the company as of December 31, 2022, is RMB 202,714,500, divided into 202,714,500 shares with a par value of RMB 1.00 each[122]. Strategic Plans and Investments - The company plans to increase the proportion of natural gas consumption in the energy structure to around 13% by 2025[18]. - The company plans to allocate 30% of the net proceeds from global offerings, amounting to RMB 71 million, for strategic acquisitions to expand its business into other regions by the end of 2024[64]. - The company aims to expand into distributed photovoltaic power generation business, allocating another 30% of the net proceeds, which is RMB 71 million, with RMB 20.774 million already utilized and RMB 50.226 million remaining to be used by the end of 2023[64]. - The company plans to expand its market presence by entering two new provinces in 2023, aiming for a 10% market share in these regions within the first year[80]. - A strategic acquisition of a local competitor is in progress, valued at approximately 200 million CNY, expected to close by Q3 2023[80]. Operational Efficiency and Cost Management - Operational efficiency improvements are projected to reduce costs by 5% in the upcoming fiscal year[80]. - The company has implemented new operational strategies that are projected to reduce costs by 7% over the next year, improving overall profitability[95]. - The company is investing 30 million CNY in R&D for new technologies aimed at improving gas distribution efficiency[80]. Risk Management - The company faces risks related to the expiration or potential early termination of its operating rights for pipeline natural gas, which may affect its ability to renew existing rights or obtain new ones[127]. - The company faces significant risks related to the Chinese government's policy developments, which may adversely affect its business and financial performance[142]. - The company is impacted by the pricing control system for pipeline natural gas, which may negatively affect profit margins due to timing differences between sales price increases and purchase price increases[143]. - The company has a risk of insufficient insurance coverage for common risks faced in the natural gas industry[144]. - The company must obtain multiple licenses and permits to start, operate, and expand its business, and failure to do so may significantly impact its expansion plans[128]. Corporate Governance and Management - The company has established a remuneration committee to formulate compensation policies for directors and senior management based on qualifications, positions, and seniority[132]. - The company has appointed new management personnel, including Mr. Tang as the Executive Vice President and Vice Chairman of New Energy Development since April 2019[104]. - Financial management practices have been strengthened, with the appointment of a new CFO to oversee investment strategies and ensure fiscal responsibility[95]. Dividends and Shareholder Returns - The board proposed a final dividend of RMB 0.30 per share, totaling RMB 60,814,350 (before tax)[33]. - The proposed final dividend for the year is RMB 0.30 per share (tax included)[47]. - The company plans to distribute a final dividend of RMB 0.30 per share for the fiscal year 2022, totaling RMB 60,814,350 (tax included) to shareholders[134]. - As of December 31, 2022, the company's available reserves for distribution amounted to approximately RMB 0.324 million[141]. Community Engagement and Social Responsibility - The group made charitable donations of approximately RMB 315,000 and in-kind donations of about RMB 14,900 during the year ended December 31, 2022[198].

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。 – 1 – 湖州燃氣股份有限公司（「本公司」）董 事（「董 事」）會（「董事會」）欣然宣佈本公司 及其附屬公司（統 稱「本集團」）截 至2022年12月31日止年度（「報告期間」或「本 年 度」）的 經 審 核 綜 合 年 度 業 績，連 同 截 至2021年12月31日止相關年度的比較數字 如 下： 綜合損益及其他全面收益表 截 至2022年12月31日止年度 綜合財務資料附註 截 至2022年12月31日止年度 1. 公司及集團資料 湖州燃氣股份有限公司（「本公司」）為於中華人民共和國（「中 國」）成 立 的 股 份 有 限 公 司。 本公司的註冊辦事處位於中國浙江省湖州市吳興區四中路227號。 • 提 供 建 設 及 安 裝 服 務，為 房 地 產 開 發 商 以 及 居 民 及 非 居 民 物 業 的 業 主 或 住 戶 等 客 戶 建 設 ...