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。 湖州燃氣股份有限公司 Huzhou Gas Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股 份 代 號：06661） 一、建 議 委 任 非 執 行 董 事；及 二、持 續 關 連 交 易－合 作 框 架 協 議 一、合 作 框 架 協 議 二 及 合作框架協議三 董 事 會 謹 此 宣 佈，本 公 司 已 於2025年8月22日 舉 行 董 事 會 會 議，已 通 過（其 中 包 括）以 下 決 議 案。 一、建議委任非執行董事 董 事 會 欣 然 宣 佈，孫 小 偉 先 生（「孫先生」)已獲提名為本公司非執行董事候 選 人。孫 先 生 的 建 議 委 任 擬 在 臨 時 股 東 大 會 上 提 呈 供 股 東 考 慮 並 酌 情 批 准。 孫 先 生 履 歷 詳 情 載 列 如 下： 孫 小 偉 先 生，38歲，彼 於 ...

Core Viewpoint - Huzhou Gas (06661.HK) reported a decline in revenue, gross profit, and net profit for the six months ending June 30, 2025, compared to the same period in 2024, primarily due to reduced sales volume of pipeline natural gas and a decrease in non-residential natural gas sales prices [1] Financial Performance - Revenue for the period was RMB 1.0904 billion, a decrease of 8.52% compared to the same period in 2024 [1] - Gross profit amounted to RMB 139 million, down 8.13% year-on-year [1] - Net profit attributable to shareholders was RMB 52.5 million, reflecting a 10.41% decrease from RMB 58.6 million in the previous year [1] - Basic earnings per share were RMB 0.26 [1] Operational Challenges - The decline in profit was mainly attributed to a reduction in pipeline natural gas sales volume and a decrease in sales prices for non-residential natural gas, leading to lower gross profit from pipeline natural gas sales [1]

期内收入的减少主要来源于报告期内管道天然气销售气量减少及非居民户天然气销售价格下调。 智通财经APP讯，湖州燃气(06661)发布截至2025年6月30日止六个月业绩，收入为10.90亿元(人民币， 下同)，同比减少8.5%;集团拥有人应占利润为5246.7万元，同比减少10.4%;每股基本盈利0.26元。 ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The Group's unaudited interim results for the six months ended June 30, 2025, show a decline in revenue, profit, and basic earnings per share [Key Financial Indicators](index=1&type=section&id=Key%20Financial%20Indicators) For the six months ended June 30, 2025, Huzhou Gas Co., Ltd. and its subsidiaries reported year-on-year decreases in revenue, profit, and basic earnings per share Key Financial Indicators (RMB Million) | Indicator | For the Six Months Ended June 30, 2025 (RMB Million) | For the Same Period in 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,090.4 | 1,192.0 | -8.52 | | Gross Profit | 139.0 | 151.3 | -8.13 | | Profit Attributable to Owners of the Group | 52.5 | 58.6 | -10.41 | | Basic Earnings Per Share (RMB) | 0.26 | 0.29 | -10.34 | [Interim Condensed Consolidated Financial Statements](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the Group's interim condensed consolidated financial statements, including the income statement, statement of comprehensive income, and statement of financial position [Interim Condensed Consolidated Statement of Profit or Loss](index=2&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For the six months ended June 30, 2025, the Group's revenue decreased by 8.52% to RMB 1,090,375 thousand, with profit for the period also declining to RMB 82,360 thousand Interim Condensed Consolidated Statement of Profit or Loss (RMB Thousand) | Indicator | 2025 (RMB Thousand) | 2024 (RMB Thousand) | | :--- | :--- | :--- | | Revenue | 1,090,375 | 1,192,008 | | Cost of Sales | (951,339) | (1,040,720) | | Gross Profit | 139,036 | 151,288 | | Other Income and Gains | 11,663 | 14,017 | | Selling and Distribution Expenses | (17,104) | (15,748) | | Administrative Expenses | (21,388) | (23,216) | | Impairment Loss on Financial Assets | (304) | (2,849) | | Other Expenses | (5,618) | (6,052) | | Finance Costs | (1,063) | (1,596) | | Share of Profit and Loss of a Joint Venture | 199 | 50 | | Profit Before Tax | 105,421 | 115,894 | | Income Tax Expense | (23,061) | (27,172) | | Profit for the Period | 82,360 | 88,722 | | Profit Attributable to Owners of the Parent | 52,467 | 58,562 | | Non-controlling Interests | 29,893 | 30,160 | | Basic Earnings Per Share (RMB) | 0.26 | 0.29 | [Interim Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) For the six months ended June 30, 2025, the Group's total comprehensive income for the period decreased to RMB 82,354 thousand, primarily due to net other comprehensive loss Interim Condensed Consolidated Statement of Comprehensive Income (RMB Thousand) | Indicator | 2025 (RMB Thousand) | 2024 (RMB Thousand) | | :--- | :--- | :--- | | Profit for the Period | 82,360 | 88,722 | | Net Other Comprehensive Income | (6) | 25 | | Total Comprehensive Income for the Period | 82,354 | 88,747 | | Total Comprehensive Income Attributable to Owners of the Parent | 52,461 | 58,587 | | Non-controlling Interests | 29,893 | 30,160 | [Interim Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the Group's total assets less current liabilities were RMB 1,598,078 thousand, with net assets of RMB 1,306,551 thousand, reflecting changes in asset and liability components Interim Condensed Consolidated Statement of Financial Position (RMB Thousand) | Indicator | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Total Non-current Assets | 1,284,459 | 1,241,907 | | Total Current Assets | 965,114 | 967,988 | | Total Current Liabilities | 651,495 | 607,257 | | Net Current Assets | 313,619 | 360,731 | | Total Assets Less Current Liabilities | 1,598,078 | 1,602,638 | | Total Non-current Liabilities | 291,527 | 267,421 | | Net Assets | 1,306,551 | 1,335,217 | | Total Equity | 1,306,551 | 1,335,217 | [Notes to the Interim Condensed Consolidated Financial Information](index=6&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes to the interim condensed consolidated financial information, covering company details, accounting policies, segment information, and various financial statement items [Company Information](index=6&type=section&id=Company%20Information) Huzhou Gas Co., Ltd. is a China-incorporated company listed on the HKEX main board, primarily engaged in gas sales, construction services, and other energy-related activities in Huzhou City - The Company was incorporated in China and listed on the Main Board of the Hong Kong Stock Exchange since July 13, 2022[10](index=10&type=chunk)[11](index=11&type=chunk) - The Group's principal activities include the sale of piped natural gas and liquefied natural gas, provision of construction and installation services, and sale of household gas appliances, energy, distributed photovoltaic power, and property leasing[15](index=15&type=chunk) [Basis of Preparation and Changes in Accounting Policies](index=6&type=section&id=Basis%20of%20Preparation%20and%20Changes%20in%20Accounting%20Policies) The interim condensed consolidated financial information is prepared in accordance with IAS 34, with no material impact from newly adopted IFRS amendments due to currency convertibility - The interim condensed consolidated financial information is prepared in accordance with International Accounting Standard 34 and should be read in conjunction with the 2024 annual consolidated financial statements[12](index=12&type=chunk) - Newly adopted revised IFRS accounting standards have no impact on the interim condensed consolidated financial information due to the convertibility of the Group's transaction and functional currencies[13](index=13&type=chunk)[14](index=14&type=chunk) [Operating Segment Information](index=7&type=section&id=Operating%20Segment%20Information) The Group operates as a single reportable segment encompassing gas sales, construction, and other activities, with all revenue generated from mainland China and no significant seasonality risk - The Group has only one reportable operating segment, covering gas sales, construction and installation services, and other activities, thus no further segment analysis is presented[16](index=16&type=chunk) - All revenue is derived from mainland China, and management assesses that the business does not face "highly seasonal" risks, despite typically higher gas consumption for heating in winter[17](index=17&type=chunk)[18](index=18&type=chunk)[19](index=19&type=chunk) [Revenue Analysis](index=8&type=section&id=Revenue%20Analysis) For the six months ended June 30, 2025, the Group's total revenue decreased by 8.52% to RMB 1,090,375 thousand, primarily from gas and energy sales and construction services, with piped natural gas remaining the largest but declining source Revenue Analysis (RMB Thousand) | Revenue Source | 2025 (RMB Thousand) | 2024 (RMB Thousand) | | :--- | :--- | :--- | | Sales of Gas, Energy and Other Goods | 996,977 | 1,087,845 | | Provision of Construction and Installation Services | 80,794 | 95,727 | | Distributed Photovoltaic Power | 10,512 | 6,022 | | Others | 3,690 | 4,504 | | Total Rental Income | 103 | 214 | | **Total (Net of Government Surcharges)** | **1,090,375** | **1,192,008** | | **By Type of Goods or Services:** | | | | Sales of Piped Natural Gas | 945,717 | 1,038,300 | | Sales of Liquefied Natural Gas | 22,516 | 32,282 | | Sales of Household Gas Appliances and Related Equipment | 14,395 | 10,608 | | Sales of Energy | 14,349 | 6,655 | | Sales of Distributed Photovoltaic Power | 10,512 | 6,022 | | **By Timing of Revenue Recognition:** | | | | Goods or Services Transferred at a Point in Time | 1,011,179 | 1,098,371 | | Services Transferred Over Time | 80,794 | 95,727 | [Other Income and Gains](index=9&type=section&id=Other%20Income%20and%20Gains) For the six months ended June 30, 2025, the Group's total other income and gains decreased by 16.43% to RMB 11,663 thousand, primarily due to lower bank interest income, despite new interest from fixed deposits and fair value gains on wealth management products Other Income and Gains (RMB Thousand) | Category | 2025 (RMB Thousand) | 2024 (RMB Thousand) | | :--- | :--- | :--- | | Bank Interest Income | 3,344 | 12,915 | | Bank Fixed Deposit Interest Income | 4,118 | – | | Finance Income from Net Investment in Leases | 365 | 370 | | Government Grants | 2,577 | 589 | | Other Income | 212 | 109 | | Gain on Disposal of Property, Plant and Equipment | – | 34 | | Fair Value Gain on Wealth Management Products | 1,047 | – | | **Total** | **11,663** | **14,017** | - Other income and gains decreased by **16.43%** year-on-year, primarily due to a decline in bank interest income[21](index=21&type=chunk) [Profit Before Tax](index=10&type=section&id=Profit%20Before%20Tax) For the six months ended June 30, 2025, the Group's profit before tax decreased to RMB 105,421 thousand, influenced by cost of sales, service provision, depreciation, and improved net impairment of financial assets Profit Before Tax (RMB Thousand) | Item | 2025 (RMB Thousand) | 2024 (RMB Thousand) | | :--- | :--- | :--- | | Cost of Inventories Sold | 912,143 | 990,580 | | Cost of Services Provided | 39,196 | 50,140 | | Depreciation of Property, Plant and Equipment | 35,311 | 30,311 | | Depreciation of Right-of-use Assets | 1,503 | 1,197 | | Amortisation of Other Intangible Assets | 3,727 | 3,724 | | Net Impairment of Financial Assets | 304 | 2,849 | | Bank Interest Income | (3,344) | (12,915) | | Bank Fixed Deposit Interest Income | (4,118) | – | | Fair Value Gain on Wealth Management Products | (1,047) | – | | Interest Expense on Lease Liabilities | 666 | 486 | [Income Tax Expense](index=11&type=section&id=Income%20Tax%20Expense) For the six months ended June 30, 2025, income tax expense decreased by 15.07% to RMB 23,061 thousand, with the effective tax rate falling to 21.92%, driven by preferential tax policies and R&D expense deductions Income Tax Expense (RMB Thousand) | Income Tax Category | 2025 (RMB Thousand) | 2024 (RMB Thousand) | | :--- | :--- | :--- | | Current Tax | 32,665 | 29,419 | | Deferred Tax | (9,604) | (2,247) | | **Total Tax Expense for the Period** | **23,061** | **27,172** | | Effective Tax Rate | 21.92% | 23.47% | - The decrease in income tax expense and effective tax rate is primarily due to certain subsidiaries enjoying preferential tax policies (such as 'three-year exemption and three-year half reduction' for distributed photovoltaic power projects and a **15%** tax rate for high-tech enterprises) and additional deductions for R&D expenses[23](index=23&type=chunk)[24](index=24&type=chunk)[25](index=25&type=chunk)[47](index=47&type=chunk) [Earnings Per Share Attributable to Ordinary Equity Holders of the Parent](index=12&type=section&id=Earnings%20Per%20Share%20Attributable%20to%20Ordinary%20Equity%20Holders%20of%20the%20Parent) For the six months ended June 30, 2025, profit attributable to ordinary equity holders of the parent was RMB 52,467 thousand, with basic earnings per share at RMB 0.26 (25.9 cents), a decrease from the prior year, and no potential dilutive ordinary shares outstanding Earnings Per Share (RMB Thousand / Number of Shares) | Indicator | 2025 (RMB Thousand / Number of Shares) | 2024 (RMB Thousand / Number of Shares) | | :--- | :--- | :--- | | Profit Attributable to Ordinary Equity Holders of the Parent | 52,467 | 58,562 | | Weighted Average Number of Ordinary Shares | 202,714,500 | 202,714,500 | | Basic Earnings Per Share (RMB Cents) | 25.9 | 28.9 | - There were no potential dilutive ordinary shares outstanding during the reporting period[28](index=28&type=chunk) [Property, Plant and Equipment](index=13&type=section&id=Property%2C%20Plant%20and%20Equipment) As of June 30, 2025, the Group's property, plant, and equipment increased to RMB 1,082,002 thousand, driven by additions of RMB 82,140 thousand, offset by depreciation and disposals Property, Plant and Equipment (RMB Thousand) | Item | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Carrying Amount at Beginning of Period/Year | 1,045,193 | 1,006,754 | | Additions | 82,140 | 185,708 | | Depreciation Expense for the Period/Year | (35,311) | (64,037) | | Disposals | (10,020) | (84,072) | | Carrying Amount at End of Period/Year | 1,082,002 | 1,045,193 | [Trade and Bills Receivables](index=13&type=section&id=Trade%20and%20Bills%20Receivables) As of June 30, 2025, the Group's total trade and bills receivables decreased to RMB 47,284 thousand, with the majority of receivables due within three months Trade and Bills Receivables (RMB Thousand) | Item | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Trade Receivables (Net of Impairment) | 33,145 | 37,645 | | Bills Receivables | 14,139 | 16,821 | | **Total** | **47,284** | **54,466** | | **Ageing Analysis:** | | | | Within 3 Months | 44,849 | 52,490 | | 3 to 6 Months | 2,240 | 1,634 | | 6 Months to 1 Year | 195 | 342 | [Pledged Deposits](index=13&type=section&id=Pledged%20Deposits) As of June 30, 2025, the Group's pledged deposits remained at RMB 20 thousand, primarily consisting of ETC deposits Pledged Deposits (RMB Thousand) | Item | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | ETC Deposits | 20 | 20 | [Trade and Bills Payables](index=14&type=section&id=Trade%20and%20Bills%20Payables) As of June 30, 2025, the Group's total trade and bills payables decreased to RMB 108,062 thousand, with the majority due within one year Trade and Bills Payables (RMB Thousand) | Ageing | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Within 1 Year | 101,061 | 123,566 | | Over 1 Year | 7,001 | 4,177 | | **Total** | **108,062** | **127,743** | [Interest-bearing Bank Borrowings](index=14&type=section&id=Interest-bearing%20Bank%20Borrowings) As of June 30, 2025, the Group's total interest-bearing bank borrowings increased to RMB 23,100 thousand, secured by future revenue from a subsidiary's photovoltaic projects and bearing interest at LPR minus 40 basis points Interest-bearing Bank Borrowings (RMB Thousand) | Category | June 30, 2025 (RMB Thousand) | December 31, 2024 (RMB Thousand) | | :--- | :--- | :--- | | Current Bank Loans | 800 | 300 | | Non-current Bank Loans | 22,300 | 14,550 | | **Total** | **23,100** | **14,850** | | **Repayment Date Analysis:** | | | | Within One Year or On Demand | 800 | 300 | | Second Year | 1,000 | 500 | | Third to Fifth Year | 4,650 | 2,700 | | Over Five Years | 16,650 | 11,350 | - Bank loans are pledged against future photovoltaic revenue from six photovoltaic projects of a subsidiary and bear interest at the Loan Prime Rate (LPR) minus **40** basis points[33](index=33&type=chunk) [Share Capital](index=14&type=section&id=Share%20Capital) As of June 30, 2025, the Company's ordinary share capital remained unchanged at 202,714,500 shares with a par value of RMB 202,715 thousand Share Capital (RMB Thousand) | Item | Number of Shares | Par Value (RMB Thousand) | | :--- | :--- | :--- | | December 31, 2024 (Audited) | 202,714,500 | 202,715 | | June 30, 2025 (Unaudited) | 202,714,500 | 202,715 | [Management Discussion and Analysis](index=15&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the industry, the Group's development strategies, performance review, financial overview, liquidity, and other relevant operational and financial information [Industry Overview](index=15&type=section&id=Industry%20Overview) In H1 2025, China's economy grew by 5.3%, while national natural gas consumption declined by 0.9%, with government policies on 'resilient cities' and pipeline reform presenting opportunities for urban gas companies - In the first half of 2025, China's economy grew by **5.3%**, while national apparent natural gas consumption decreased by **0.9%** year-on-year[35](index=35&type=chunk) - National policies prioritize 'resilient city' construction and 'upgrading old pipelines,' and promote the transition of provincial natural gas pipeline transmission pricing from 'one price per line' to a unified provincial system, aiming to reduce costs and support the development of urban gas enterprises[36](index=36&type=chunk)[37](index=37&type=chunk) [Development Strategies and Outlook](index=15&type=section&id=Development%20Strategies%20and%20Outlook) The Group focuses on 'safety, development, and reform,' driven by technological innovation to build a clean, low-carbon, safe, and efficient energy system, optimizing gas sourcing, enhancing energy O&M, and expanding value-added services - The Group is committed to the three major tasks of 'safety, development, and reform,' driven by technological innovation to accelerate the construction of a clean, low-carbon, safe, and efficient new energy system[38](index=38&type=chunk) - Actively exploring optimized gas source access, reducing procurement costs, strengthening energy operation and maintenance management, building a 'smart cloud' platform, promoting intelligent and unmanned gate station upgrades, and applying pipeline inspection robots[39](index=39&type=chunk) - Exploring a 'self-generation and self-consumption + surplus power grid connection' model, enhancing energy efficiency through a 'gas + electricity + heat' multi-energy complementary approach, and seizing the 'trade-in' policy opportunity to upgrade business halls and expand value-added services like kitchen renovations[39](index=39&type=chunk)[40](index=40&type=chunk) [Performance Review](index=16&type=section&id=Performance%20Review) In H1 2025, the Group enhanced its 'gas + clean energy' dual-core business, achieved zero major safety hazards, accelerated digital transformation, and served 327,400 residential and 3,805 commercial users, with gas sales of 282 million cubic meters, a 5.22% decrease - The Group continues to improve its 'gas + clean energy' dual-core synergistic development system and has achieved dynamic clearance of Level 1 hazards for industrial and commercial users within its jurisdiction[41](index=41&type=chunk) - Accelerating digital transformation, establishing a smart research institute, and releasing the nation's first provincial smart gas report, gaining a first-mover advantage in the industry[41](index=41&type=chunk) Performance Indicators | Indicator | June 30, 2025 | | :--- | :--- | | Residential Users | 327,400 households | | Industrial and Commercial Users | 3,805 households | | Gas Sales Volume | 282 million cubic meters (5.22% year-on-year decrease) | | Natural Gas Pipeline Length | Approximately 1,734.66 km | [Financial Overview](index=17&type=section&id=Financial%20Overview) The Group's H1 2025 financial performance saw revenue and gross profit decline due to reduced gas sales and lower non-residential gas prices, while other income decreased, finance costs fell, and income tax expense was reduced by preferential policies, resulting in a 10.41% decrease in profit attributable to owners of the parent [Revenue](index=17&type=section&id=Revenue) The Group's revenue decreased by 8.52% to RMB 1,090.4 million, primarily due to reduced piped natural gas sales volume and lower non-residential sales prices Revenue (RMB Million) | Indicator | 2025 (RMB Million) | 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,090.4 | 1,192.0 | -8.52 | - The decrease in revenue is primarily attributable to reduced piped natural gas sales volume and lower sales prices for non-residential natural gas users[43](index=43&type=chunk) [Gross Profit](index=17&type=section&id=Gross%20Profit) The Group's gross profit decreased by 8.13% to RMB 139.0 million, mainly impacted by reduced natural gas sales volume and lower non-residential sales prices Gross Profit (RMB Million) | Indicator | 2025 (RMB Million) | 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Gross Profit | 139.0 | 151.3 | -8.13 | - The decrease in gross profit is primarily due to reduced natural gas sales volume and lower sales prices for non-residential natural gas users[44](index=44&type=chunk) [Other Income and Gains](index=17&type=section&id=Other%20Income%20and%20Gains) The Group's other income and gains decreased by 16.43% to RMB 11.7 million, primarily due to a reduction in interest income Other Income and Gains (RMB Million) | Indicator | 2025 (RMB Million) | 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Other Income and Gains | 11.7 | 14.0 | -16.43 | - The decrease in other income and gains is primarily due to a reduction in interest income generated by the Group during the reporting period[45](index=45&type=chunk) [Finance Costs](index=17&type=section&id=Finance%20Costs) The Group's finance costs decreased by 31.25% to RMB 1.1 million, primarily due to reduced bank borrowings and lower interest expenses Finance Costs (RMB Million) | Indicator | 2025 (RMB Million) | 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Finance Costs | 1.1 | 1.6 | -31.25 | - The decrease in finance costs is primarily due to a reduction in bank borrowings and lower interest expenses during the reporting period[46](index=46&type=chunk) [Income Tax Expense](index=17&type=section&id=Income%20Tax%20Expense) The Group's income tax expense decreased by 15.07% to RMB 23.1 million, with the effective tax rate falling to 21.92%, primarily due to preferential tax policies and R&D expense deductions for certain subsidiaries, including a 15% rate for Xin'ao Development as a high-tech enterprise Income Tax Expense (RMB Million) | Indicator | 2025 (RMB Million) | 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Income Tax Expense | 23.1 | 27.2 | -15.07 | | Effective Tax Rate | 21.92% | 23.47% | -1.55pp | - The decrease in income tax expense and effective tax rate is primarily due to certain subsidiaries within the Group enjoying preferential tax rates and R&D expense additional deduction tax policies, as well as Xin'ao Development being recognized as a high-tech enterprise, applying a **15%** preferential tax rate[47](index=47&type=chunk) [Profit Attributable to Owners of the Parent](index=18&type=section&id=Profit%20Attributable%20to%20Owners%20of%20the%20Parent) Profit attributable to owners of the parent decreased by 10.41% to RMB 52.5 million, primarily due to reduced piped natural gas sales volume and lower non-residential sales prices, leading to decreased gross profit Profit Attributable to Owners of the Parent (RMB Million) | Indicator | 2025 (RMB Million) | 2024 (RMB Million) | Year-on-Year Change (%) | | :--- | :--- | :--- | :--- | | Profit Attributable to Owners of the Parent | 52.5 | 58.6 | -10.41 | - The decrease in profit is primarily due to reduced piped natural gas sales volume and lower sales prices for non-residential natural gas during the period, leading to a decrease in gross profit from piped natural gas sales[48](index=48&type=chunk) [Liquidity and Financial Position](index=18&type=section&id=Liquidity%20and%20Financial%20Position) As of June 30, 2025, the Group maintained a net cash position with RMB 965.1 million in current assets, RMB 296.6 million in cash, a current ratio of 1.48, and RMB 266.2 million in unutilized bank facilities, partly for photovoltaic business expansion Liquidity and Financial Position | Indicator | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Current Assets | RMB 965.1 Million | RMB 968.0 Million | | Cash and Bank Balances | RMB 296.6 Million | RMB 828.5 Million | | Current Ratio | 1.48 | 1.59 | | Asset-Liability Ratio | 41.92% | 39.58% | | Capital-Gearing Ratio | 3.83% | 2.97% | - The Group maintains a net cash position and has **RMB 266.2 million** in unutilized bank credit facilities[50](index=50&type=chunk)[51](index=51&type=chunk) - Part of the bank loans are used for the photovoltaic business expansion of Huzhou Hurun New Energy Development Co., Ltd., a subsidiary[50](index=50&type=chunk) [Exchange Rate Fluctuation Risk](index=18&type=section&id=Exchange%20Rate%20Fluctuation%20Risk) The Group's foreign exchange risk is primarily related to HKD-denominated cash and cash equivalents, as most revenue and expenses are denominated in RMB, resulting in no significant exchange rate risk - The Group's vast majority of income and expenses are denominated in RMB, and the foreign exchange risk faced is mainly related to cash and cash equivalents denominated in HKD, but there is no significant exchange rate risk[52](index=52&type=chunk) [Contingent Liabilities, Financial Guarantee Commitments and Pledged Assets](index=19&type=section&id=Contingent%20Liabilities%2C%20Financial%20Guarantee%20Commitments%20and%20Pledged%20Assets) As of June 30, 2025, the Group had no other significant contingent liabilities, material financial guarantee commitments, or pledged assets - As of June 30, 2025, the Group had no other significant contingent liabilities[53](index=53&type=chunk) - As of June 30, 2025, the Group had no material financial guarantee commitments[54](index=54&type=chunk) - As of June 30, 2025, the Group had no pledged assets[55](index=55&type=chunk) [Material Investments Held, Material Acquisitions or Disposals, and Future Plans for Material Investments or Capital Assets](index=19&type=section&id=Material%20Investments%20Held%2C%20Material%20Acquisitions%20or%20Disposals%2C%20and%20Future%20Plans%20for%20Material%20Investments%20or%20Capital%20Assets) During the reporting period, the Group held no material investments, undertook no significant acquisitions or disposals of subsidiaries, associates, or joint ventures, and had no future plans for material investments or capital assets as of the announcement date - During the reporting period, the Group held no material investments and did not undertake any material acquisitions or disposals of subsidiaries, associates, or joint ventures[56](index=56&type=chunk) - As of the date of this announcement, the Company has no future plans for any material investments or capital assets[56](index=56&type=chunk) [Human Resources and Employee Remuneration](index=19&type=section&id=Human%20Resources%20and%20Employee%20Remuneration) As of June 30, 2025, the Group employed 452 staff with total employee costs of approximately RMB 54.6 million, continuously enhancing staff professionalism and quality through targeted training and competitive remuneration Human Resources and Employee Remuneration | Indicator | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Total Number of Employees | 452 persons | 438 persons | | Total Employee Costs | Approximately RMB 54.6 Million | - | - The Group enhances the professional level and overall quality of its employees by providing targeted training programs and competitive remuneration packages[57](index=57&type=chunk) [Events After the Reporting Period](index=19&type=section&id=Events%20After%20the%20Reporting%20Period) No significant events have occurred from the end of the reporting period up to the date of this announcement - No significant events have occurred from the end of the reporting period up to the date of this announcement[58](index=58&type=chunk) [Material Litigation](index=19&type=section&id=Material%20Litigation) During the reporting period, the Company was not involved in any material litigation or arbitration, and the Directors are unaware of any outstanding or threatened material litigation or claims against the Group - During the reporting period, the Company was not involved in any material litigation or arbitration, and the Directors are not aware of any outstanding or threatened material litigation or claims against the Group[59](index=59&type=chunk) [Use of Net Proceeds from Listing](index=20&type=section&id=Use%20of%20Net%20Proceeds%20from%20Listing) The net proceeds from the H-share global offering were approximately RMB 236.9 million, with RMB 149.859 million utilized for network upgrades, photovoltaic business expansion, and working capital, leaving RMB 87.041 million for strategic acquisitions and gas boiler heat utilization, expected to be used by end of 2026 Use of Net Proceeds from Listing (RMB Thousand) | Intended Use | Allocation Percentage | Allocated Amount (RMB Thousand) | Utilized (RMB Thousand) | Unutilized (RMB Thousand) | Expected Utilization Date | | :--- | :--- | :--- | :--- | :--- | :--- | | Upgrading Pipeline Network and Operating Facilities | 20% | 47,400 | 47,400 | 0 | - | | Strategic Acquisitions | 30% | 71,000 | 0 | 71,000 | By end of 2026 | | Expanding Distributed Photovoltaic Power Generation Business | 30% | 71,000 | 71,000 | 0 | - | | Promoting Natural Gas Boiler Heat Utilization | 10% | 23,800 | 7,759 | 16,041 | By end of 2026 | | Working Capital and General Corporate Purposes | 10% | 23,700 | 23,700 | 0 | - | | **Total** | **100%** | **236,900** | **149,859** | **87,041** | | - The unutilized net proceeds have been deposited in interest-bearing accounts with licensed banks[60](index=60&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=20&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the reporting period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's listed securities, and no treasury shares were held at the period end - During the reporting period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's listed securities, and no treasury shares were held as of the end of the reporting period[61](index=61&type=chunk) [Corporate Governance and Other Information](index=21&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section details the Company's corporate governance practices, standards for securities transactions, interim dividend policy, audit committee review, and publication of interim results [Corporate Governance](index=21&type=section&id=Corporate%20Governance) The Company is committed to maintaining high standards of corporate governance, having adopted and complied with all code provisions of the Corporate Governance Code in Appendix C1 of the Listing Rules - The Company has adopted and complied with all code provisions of the Corporate Governance Code as set out in Appendix C1 to the Listing Rules during the reporting period[62](index=62&type=chunk) [Standard Code for Securities Transactions](index=21&type=section&id=Standard%20Code%20for%20Securities%20Transactions) The Company has adopted a code of conduct no less exacting than the Standard Code in Appendix C3 of the Listing Rules, with all Directors and Supervisors confirming compliance and no employee breaches identified during the period - The Company has adopted a code of conduct no less exacting than the Standard Code as set out in Appendix C3 to the Listing Rules, and all Directors and Supervisors have complied with it during the reporting period[63](index=63&type=chunk) - This code of conduct also applies to employees who may possess unpublished price-sensitive information, and no breaches by employees were observed during the reporting period[63](index=63&type=chunk) [Interim Dividend](index=21&type=section&id=Interim%20Dividend) The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025[64](index=64&type=chunk) [Audit Committee and Review of Interim Financial Statements](index=21&type=section&id=Audit%20Committee%20and%20Review%20of%20Interim%20Financial%20Statements) The Audit Committee, in conjunction with management and external auditor Ernst & Young, has reviewed the Group's accounting principles, policies, and unaudited interim results, confirming compliance with applicable accounting standards and requirements - The Audit Committee has reviewed the Group's accounting principles, policies, and unaudited interim results with management and the external auditor, Ernst & Young[65](index=65&type=chunk) - The review concluded that the interim results were prepared in compliance with applicable accounting standards and requirements, with adequate disclosures, and no disagreement on the accounting treatments adopted[65](index=65&type=chunk) [Publication of Interim Results and 2025 Interim Report](index=22&type=section&id=Publication%20of%20Interim%20Results%20and%202025%20Interim%20Report) This announcement and the Company's interim report will be published on the Company's and HKEX websites in due course, with printed copies dispatched upon shareholder request - This announcement and the Company's interim report for the reporting period will be published in due course on the Company's website (www.hzrqgf.com) and the HKEX website (http://www.hkexnews.hk)[66](index=66&type=chunk)

格隆汇8月12日丨湖州燃气(06661.HK)宣布，董事会将于2025年8月22日（星期五）举行董事会会议，以 考虑及通过（包括其他事项）本公司及其附属公司截至2025年6月30日止的六个月的未经审计中期业绩 及派发中期股息（如有）。 ...

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。 湖州燃氣股份有限公司 Huzhou Gas Co., Ltd.* （於中華人民共和國註冊成立的股份有限公司） （股 份 代 號：06661） 董事會會議召開日期 湖州燃氣股份有限公司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 布，董 事 會 將於二零二五年八月二十二日（星 期 五）舉 行 董 事 會 會 議，以 考 慮 及 通 過（包 括 其 他 事 項）本公司及其附屬公司截至二零二五年六月三十日止的六個月的未經 審計中期業績及派發中期股息（如 有）。 承董事會命 湖州燃氣股份有限公司 主 席 汪 驊 中 華 人 民 共 和 國，浙 江 省，湖 州 市 二零二五年八月十二日 於 本 公 告 日 期，董 事 會 成 員 包 括 執 行 董 事 汪 驊 先 生、王 韜 先 生 及 孫 曉 慧 女 士； 非 執 行 董 事 宮 羅 建 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 FF301 致：香港交易及結算所有限公司 公司名稱: 湖州燃氣股份有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06661 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 52,714,500 | RMB | | 1 RMB | | 52,714,500 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 52,714,500 | RMB | | 1 RMB | | 52,714,500 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請 ...

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].