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佈之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致之任何 損失承擔任何責任。 Zhonghua Gas Holdings Limited (中華燃氣控股有限公司) （於開曼群島註冊成立之有限公 司） （股份代號：8246） 截至二零二五年三月三十一日止十五個月之年度業績公告 中華燃氣控股有限公司（「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」）截至二零二五年三月三十一日止十五個月之經審核綜合業績。本公 告列載本集團截至二零二五年三月三十一日止十五個月年度報告全文，乃符合香港聯合 交易所有限公司（「聯交所」）GEM證券上市規則（「GEM上市規則」）中有關年度業績初步 公告附載的資料之要求。本公司截至二零二五年三月三十一日止年度報告的印刷版本將 於二零二五年七月三十一日或之前按要求寄發予本公司股東，並刊載於本公司網站 (www.8246hk.com)及聯交所網站(www.hkexnews.hk)。 承董事會命 中華燃氣控股有限公司 行政總裁兼執 ...

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佈之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而產生或因倚賴該等內容而引致之任何 損失承擔任何責任。 承董事會命 中華燃氣控股有限公司 行政總裁兼執行董事 陳永源 香港，二零二五年六月二十七日 於本公佈日期，執行董事為胡翼時先生、陳永源先生、林敏女士及鄺慧敏女士；及獨立非執行董事為馬莉 女士、劉國基先生及王偉杰先生。 Zhonghua Gas Holdings Limited (中華燃氣控股有限公司) （於開曼群島註冊成立之有限公 司） （股份代號：8246） 截至二零二五年三月三十一日止十五個月之年度業績公告 中華燃氣控股有限公司（「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」）截至二零二五年三月三十一日止十五個月之經審核綜合業績。本公 告列載本集團截至二零二五年三月三十一日止十五個月年度報告全文，乃符合香港聯合 交易所有限公司（「聯交所」）GEM證券上市規則（「GEM上市規則」）中有關年度業績初步 公告附載的資料之要求。本公司截至二零二五年三月三十一日止年度報 ...

Major Events - JiuTai Rural Commercial Bank (06122) plans to sell 78.51% stake in HuanShan HuiMin Village Bank for 40.4 million yuan [1] - Vanke Enterprises (02202) intends to receive a loan of up to 3 billion yuan from its major shareholder, Shenzhen Metro Group [1] - China Gas Holdings (08246) signed a memorandum of understanding with the Lao Ministry of Industry and Commerce to explore cooperation in developing fuel and natural gas supply networks in Laos [1] - Miniso Group (09896) is conducting a preliminary assessment on the potential spin-off listing of its trendy toy business operated under the "TOP TOY" brand [1] - Baiyunshan Pharmaceutical (00874) subsidiary received approval from the National Medical Products Administration for the drug registration certificate of Tadalafil tablets (2.5mg, 5mg) [1] - Huaxing Capital Holdings (01911) portfolio company Circle successfully listed on the New York Stock Exchange, marking the first IPO milestone in the global stablecoin sector [1] - China National Nuclear Corporation (01763) plans to initiate its first irradiation station cooperation project in Peru [1] Operating Performance - Yuexiu Property (00123) reported a cumulative contract sales amount of approximately 50.7 billion yuan in the first five months, an increase of about 26.5% year-on-year [1] - China Overseas Land & Investment (00688) recorded a cumulative property sales amount of approximately 90.4 billion yuan in the first five months, a decrease of 11.1% year-on-year [1] - Shimao Group (00813) reported a cumulative contract sales total of 11.2 billion yuan in the first five months, a decrease of 18.71% year-on-year [1] - Zhongliang Holdings (02772) achieved a cumulative contract sales amount of approximately 5.37 billion yuan in the first five months, a decrease of 33.38% year-on-year [1] - GAC Group (02238) experienced a year-on-year decline in May's automobile production by 8.16% and a sales drop of 24.80% [1] - Poly Property Group (00119) achieved a contract sales amount of approximately 21.8 billion yuan in the first five months, an increase of 3.81% year-on-year [1] - New天绿色能源 (00956) completed a power generation volume of approximately 7.29 million megawatt-hours in the first five months, an increase of 10.86% year-on-year [1]

丘钛科技(01478.HK)3月摄像头模组销售合计3792.8万件 环比增长41.8% 【今日焦点】 远大医药(00512.HK)：全球创新激素纳米混悬滴眼液海外III期临床研究顺利达到临床终点 远大医药(00512.HK)公告，集团在眼科领域的合作伙伴台新药股份有限公司公布其用于抗炎镇痛的激素 纳米混悬滴眼液 APP13007 在美国开展的 II 期临床研究和两项 III 期临床研究，均已顺利达到临床终 点。根据临床结果显示，APP13007 在治疗眼科术后抗炎和镇痛方面有着显着的有效性，且安全性良 好，计划将于今年上半年向美国食品药品监督管理局(Food and Drug Administration，FDA)递交上市许 可申请(NDA)。集团拥有该产品在中国大陆、香港和澳门地区的独家开发和商业化权利。 君实生物(688180.SH)：senaparib用于晚期卵巢癌全人群一线维持治疗的III期临床研究达到主要研究终 点 君实生物(688180.SH)公布，近日，公司与南京英派药业有限公司("英派药业")合作开发的聚腺苷二磷酸 核糖聚合酶("PARP")抑制剂senaparib(产品代号：JS109/IM ...

Financial Performance - Revenue for the twelve months ended December 31, 2024, was RMB 89,193,000, a decrease of 52.2% compared to RMB 186,652,000 for the corresponding period in 2023[9]. - Gross profit for the same period was RMB 3,536,000, compared to a gross loss of RMB 6,793,000 in the previous year, representing a significant improvement[9]. - The total comprehensive loss for the period was RMB 47,125,000, which is an increase of 1,070.8% from RMB 4,025,000 in the prior year[9]. - The company incurred a net loss of RMB 47,125,000 for the twelve months ending December 31, 2024, compared to a net loss of RMB 4,025,000 in 2023, reflecting a substantial increase in losses[19]. - Operating loss increased to RMB 38,511,000 from RMB 1,904,000 year-over-year, highlighting ongoing operational challenges[19]. - The company reported a net cash outflow from operating activities of RMB 129,694,000 for the twelve months ended December 31, 2024, compared to a cash inflow of RMB 163,232,000 for the same period in 2023[23]. - The company reported a consolidated net loss of approximately RMB 47,125,000 for the twelve months ended December 31, 2024[26]. - The total comprehensive loss attributable to the company's owners increased to approximately RMB 49,100,000 from RMB 6,700,000 in the corresponding period, with a basic and diluted loss per share of RMB 0.013 compared to RMB 0.002 previously[96]. Assets and Liabilities - Total assets increased by 16.1% to RMB 406,028,000 from RMB 349,670,000 year-over-year[9]. - Cash and cash equivalents decreased by 64.8% to RMB 69,099,000 from RMB 196,083,000 in the prior year[9]. - Trade receivables and contract assets dropped significantly to RMB 43,301,000 from RMB 104,901,000, suggesting potential issues in revenue collection[20]. - The company's total assets increased to RMB 406,028,000 from RMB 349,670,000, indicating growth in asset base despite operational losses[20]. - The company's current assets and current liabilities were approximately RMB 393.9 million and RMB 231.8 million, respectively, compared to RMB 338.6 million and RMB 210 million as of December 31, 2023[104]. - The company's debt-to-equity ratio as of December 31, 2024, was 30.7%, a significant decrease from 68.4% on December 31, 2023[104]. - The net asset value increased to approximately RMB 172.6 million as of December 31, 2024, up from RMB 139.2 million as of December 31, 2023, primarily due to an increase in prepayments to suppliers[104]. Cash Flow and Liquidity - Cash and cash equivalents decreased to RMB 69,099,000 from RMB 196,083,000, indicating a liquidity strain[20]. - The company experienced a significant decrease in cash and cash equivalents, with a net decrease of RMB 127,068,000, compared to an increase of RMB 157,074,000 in the prior year[23]. - The company has successfully recovered several overdue trade receivables to improve liquidity and cash flow[28]. - The company has received shareholder support to avoid requesting repayment of due amounts until sufficient cash resources are available[29]. - The company has implemented measures to closely monitor trade receivables and improve cash flow in the short and long term[28]. Expenses and Costs - The company reported an increase in administrative expenses to RMB 52,354,000 from RMB 30,005,000, reflecting higher operational costs[19]. - Financial costs increased significantly to RMB 8,537 thousand in 2024 from RMB 1,801 thousand in 2023, an increase of about 373.5%[40]. - Administrative expenses increased by 74.5% to approximately RMB 52,400,000 from RMB 30,000,000 in the corresponding period, largely due to share-based payment expenses related to stock options granted in December 2023[92]. - The sales cost for the energy business was approximately RMB 85,700,000, down from approximately RMB 193,400,000 in the corresponding period[87]. Shareholder and Corporate Governance - The board of directors did not recommend any dividend payments for the two periods[113]. - The company has adopted the corporate governance code as per GEM listing rules and has complied with all provisions during the reporting period[145]. - The company provides a communication platform for shareholders through annual and special general meetings, as well as its corporate website[142]. - The company has not established any arrangements for directors or their associates to acquire securities of the company or its affiliates during the reporting period[140]. Strategic Initiatives and Future Outlook - The company is engaged in diversified energy services, including technology development for heating and coal-to-gas solutions, and LNG supply and sales[27]. - The company is focusing on expanding its energy business and exploring opportunities in overseas markets through joint ventures and acquisitions[102]. - The company aims to cultivate strategic relationships with major partners to identify and seek new business opportunities[84]. - The company is exploring investment opportunities in gas pressure regulating and metering equipment through a memorandum of understanding with Tianjin Jinhai Heating Group Co., Ltd.[83]. Employee and Share Options - The company has a share option plan that allows for the issuance of options not exceeding 30% of the issued share capital[65]. - As of December 31, 2024, a total of 209,480,000 options were granted under the 2011 plan, representing 5.7% of the issued shares[67]. - The total number of employee stock options granted was 438,800,000, with 352,032,000 options exercised during the period[131]. - The new share option plan was adopted on September 14, 2023, allowing for the issuance of options up to 10% of the company's issued share capital at the time of adoption[126][127]. Market and Industry Insights - China's LNG imports reached 38,000,000 tons in the first half of 2024, a year-on-year increase of 13.9%, while pipeline gas imports rose by 15% to 26,700,000 tons[98]. - The share of natural gas and LNG in China's energy structure is expected to increase from 7% to 12% or more by 2040, driven by government initiatives to reduce coal usage[99]. - China plans to enhance its LNG receiving station infrastructure, aiming for an annual import capacity of 247,000,000 tons by 2035, tripling current levels[100].

Financial Performance - Revenue for the twelve months ended December 31, 2024, was RMB 89,193,000, a decrease of 52.2% compared to RMB 186,652,000 for the corresponding period in 2023[4] - Gross profit for the same period was RMB 3,536,000, compared to a gross loss of RMB 6,793,000 in the previous year, representing a significant improvement of 152.1%[4] - The total comprehensive loss for the period was RMB 47,125,000, an increase of 1,070.8% from RMB 4,025,000 in the prior year[4] - The company reported a net loss of RMB 47,125,000 for the twelve months ending December 31, 2024, compared to a net loss of RMB 4,025,000 in the previous year[12] - The company reported a basic and diluted loss per share of RMB (0.013), compared to RMB (0.002) in the previous year, reflecting a 550.0% increase in loss per share[4] - The net loss margin for the period was (52.8%), compared to (2.2%) in the prior year[6] - The group reported a foreign exchange loss of RMB (758,000) for the twelve months ended December 31, 2024, compared to a loss of RMB (1,934,000) in 2023, indicating an improvement[27] - The net loss attributable to the company's owners increased from approximately RMB 6,700,000 to approximately RMB 49,100,000, mainly due to reduced provisions for trade receivables and increased share-based payment expenses[89] Assets and Liabilities - The company's net assets increased by 23.9% to RMB 172,564,000 from RMB 139,242,000 year-over-year[4] - Total assets increased by 16.1% to RMB 406,028,000 from RMB 349,670,000 in the previous year[4] - Total liabilities increased to RMB 233,464,000 as of December 31, 2024, compared to RMB 210,428,000 in 2023, representing an increase of approximately 10.5%[10] - The company’s total current liabilities amounted to RMB 231,817,000 as of December 31, 2024, compared to RMB 209,984,000 in 2023, indicating an increase of approximately 10.4%[10] - The company's asset-liability ratio as of December 31, 2024, was 30.7%, a significant decrease from 68.4% on December 31, 2023[99] Cash Flow and Liquidity - Cash and cash equivalents decreased by 64.8% to RMB 69,099,000 from RMB 196,083,000 in the previous year[4] - Cash flow from operating activities showed a net outflow of RMB 129,694,000 in 2024, a significant decrease from a net inflow of RMB 163,232,000 in 2023[14] - The current ratio increased to 1.7 from 1.6 year-over-year, indicating improved liquidity[6] - The company has sufficient cash resources to meet upcoming obligations without requiring repayment of due amounts from shareholders[19] - The company successfully recovered overdue trade receivables, contributing to liquidity improvement measures for the foreseeable future[17] - The company plans to continue monitoring trade receivables closely to enhance cash flow and liquidity in both the short and long term[17] Revenue Sources - For the twelve months ended December 31, 2024, the revenue from LNG sales was RMB 88,057,000, a decrease of 52.5% compared to RMB 185,515,000 for the same period in 2023[26] - The total revenue for the group for the twelve months ended December 31, 2024, was RMB 89,193,000, down from RMB 186,652,000 in 2023, representing a decline of 52.3%[26] - The group’s other income, including rental and operational management services, decreased to RMB 1,374,000 in 2024 from RMB 6,480,000 in 2023, a decline of 78.8%[26] - The group’s investment property rental income was RMB 160,000 for the twelve months ended December 31, 2024, slightly down from RMB 171,000 in 2023[26] Expenses - Administrative expenses increased to RMB (52,354,000) in 2024 from RMB (30,005,000) in 2023, indicating a rise of approximately 74.5%[32] - Financial costs rose by 374.0% to approximately RMB 8,500,000, primarily due to increased interest from other loans and overdue supplier payments[85] - Interest expenses for bank borrowings decreased to RMB 173,000 in 2024 from RMB 232,000 in 2023, reflecting a reduction of 25.4%[28] - The group’s financial costs totaled RMB 8,537,000 for the twelve months ended December 31, 2024, significantly higher than RMB 1,801,000 in 2023, marking an increase of 373.5%[28] Shareholder Information - The total number of shares issued and paid-up as of January 1, 2024, was 3,666,936,000 shares, with an increase to 4,033,624,000 shares by December 31, 2024[50] - The company has a stock option plan that allows for the issuance of options not exceeding 30% of the total issued share capital[56] - As of June 9, 2024, the number of shares involved in the stock options granted under the 2011 plan was 209,480,000, equivalent to 5.7% of the company's issued shares[59] - The total number of employee stock options is 438,800,000, with 352,032,000 options exercised and 86,768,000 options canceled or expired[126] - The company did not declare any dividends for the twelve months ended December 31, 2024, consistent with the previous year[37] Corporate Governance - The audit committee consists of three independent non-executive directors and has reviewed the financial results for the twelve months ending December 31, 2024[145] - The external auditor did not find any significant modifications required for the interim financial information for the twelve months ending December 31, 2024[145] - The company has adopted a code of conduct regarding securities trading by directors, in compliance with GEM listing rules[140] - The company has complied with the corporate governance code throughout the reporting period[141] - The company provides a platform for shareholders to communicate suggestions and opinions during annual and special general meetings[139]

Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 63,964,000, a decrease of 49.8% compared to RMB 127,376,000 for the same period in 2023[10]. - The gross profit for the same period was RMB 2,620,000, representing a gross margin of 4.1%, compared to a gross loss of RMB 3,384,000 in the prior year[10][12]. - The total comprehensive loss attributable to owners of the company was RMB 10,439,000, a significant decline from a profit of RMB 34,648,000 in the previous year, marking a 130.1% decrease[10]. - The company reported a net loss margin of (9.8%) for the current period, compared to a net profit margin of 32.4% in the same period last year[12]. - Operating profit decreased significantly to RMB 625,000 from RMB 41,409,000 year-on-year[15]. - The company reported a net loss attributable to owners of the company of RMB 10,439,000, compared to a profit of RMB 34,648,000 in the same period last year[15]. - LNG sales revenue was RMB 63,384 thousand, down from RMB 126,807 thousand, reflecting a 50% decline year-over-year[27]. - The company recorded a loss attributable to owners of approximately RMB 10,400,000 for the period, compared to a profit of approximately RMB 34,600,000 in the corresponding period[72]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 365,505,000, an increase of 4.5% from RMB 349,670,000 at the end of 2023[11]. - Cash and cash equivalents decreased significantly by 70.1%, from RMB 196,083,000 at the end of 2023 to RMB 58,605,000[11]. - Current assets rose to RMB 352,255,000, compared to RMB 338,606,000 at the end of 2023[16]. - The net asset liability ratio improved to 58.8% from 67.6% in the previous year, indicating better financial stability[12]. - Trade receivables amounted to RMB 242,918,000 as of June 30, 2024, down from RMB 331,119,000 as of December 31, 2023, reflecting a decrease of approximately 26.6%[42]. - The impairment provision for trade receivables was RMB 203,324,000 as of June 30, 2024, compared to RMB 226,218,000 as of December 31, 2023, indicating a reduction of about 10.1%[42]. - Total trade and other payables increased to RMB 126,297,000 as of June 30, 2024, from RMB 113,905,000 as of December 31, 2023, representing an increase of approximately 10.8%[45]. Cash Flow and Financing - The company experienced a cash outflow from operating activities of RMB 130,680,000, compared to a cash inflow of RMB 74,529,000 in the previous year[18]. - The available cash and cash equivalents of the group were only RMB 58,605,000 as of June 30, 2024, indicating significant uncertainty regarding the group's ability to continue as a going concern[20]. - A repayment agreement was established with convertible bondholders on May 20, 2024, with a repayment schedule of nine installments, each approximately RMB 4,550,000, totaling RMB 48,080,000[20]. - The group plans to seek bank financing to settle the final payment of approximately RMB 48,080,000 and applicable interest to convertible bondholders[21]. - The ability of the group to continue as a going concern is contingent upon successful currency exchange procedures and obtaining bank financing[21]. Strategic Initiatives and Market Outlook - The company is focusing on strategic initiatives to enhance operational efficiency and explore market expansion opportunities[10]. - The company plans to expand its LNG supply business and explore opportunities in overseas markets to enhance its market position[74]. - The company aims to establish joint ventures and pursue acquisitions to further develop its business, including stable LNG supply and pipeline gas markets in northern China[74]. - The company continues to maintain strategic cooperation with Jiangsu Shagang Group Co., Ltd. to supply LNG and manage LNG supply stations[64]. - The company anticipates a continued decrease in the number of new projects in the future due to market saturation in Tianjin's coal-to-gas initiatives[64]. Share Capital and Stock Options - The company's issued and paid-up share capital was RMB 3,724,000 as of June 30, 2024, with a total of 3,666,936,000 shares issued[44]. - A total of 366,688,000 stock options were granted under the new plan as of December 11, 2023, representing 10% of the company's issued shares on that date[88]. - The total number of stock options available for grant under the new plan is capped at 10% of the company's issued share capital at the time of approval[88]. - The company has a total of 21,776,000 stock options that have not been exercised as of June 30, 2024[91]. - The company has a significant number of stock options that are set to expire in the near future, indicating potential future dilution[91]. Corporate Governance - The company has adopted the corporate governance code as per GEM listing rules and has complied with all provisions during the reporting period[105]. - The Audit Committee was established in accordance with GEM Listing Rules and consists of three independent non-executive directors as of June 30, 2024[106]. - The Audit Committee reviewed the interim results and mid-term report for the six months ended June 30, 2024, confirming compliance with applicable accounting standards[106]. - The board of directors has maintained communication with shareholders through annual and special general meetings[103].

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佈之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部份內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Zhonghua Gas Holdings Limited (中華燃氣控股有限公司) （於開曼群島註冊成立之有限公 司） （股份代號：8246） 截至二零二四年六月三十日止六個月之 中期業績公佈 及有關二零二三年年報之補充公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市 的公司帶有較高投資風險。有意投資的人士應了解投資於該等公司的潛在風險，並應經 過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券 承受較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 本公佈乃遵照聯交所GEM證券上市規則（「GEM上市規則」）的規定而提供有關中華燃氣 控股有限公司（「本公司」）的資料。本公司之董事（「董事」）願共同及個別就本公佈負全 責，並在作出一切合理 ...

Financial Performance - The group reported a revenue of approximately RMB 186.5 million for the year, a decrease of 6.8% from RMB 200.1 million in the previous year, with energy business accounting for 99.9% of total revenue [30]. - The group's net loss attributable to shareholders increased to approximately RMB 6.7 million, compared to RMB 5.3 million in the previous year [29]. - Revenue for the year was RMB 186,652 million, a decrease of 6.9% compared to the previous year [124]. - The net loss attributable to shareholders for the year was approximately RMB 6.7 million, compared to a net loss of approximately RMB 5.3 million in the previous year [155]. - The company recorded a gross loss of RMB 6,793 million, which is a 14.5% improvement from the previous year's gross loss [124]. - The gross loss margin improved to (3.6%) from (4.0%) in the previous year [151]. - Other losses for the year amounted to approximately RMB 11.5 million, compared to RMB 10.2 million in the previous year, primarily due to fair value losses on convertible bonds of approximately RMB 9.5 million [162]. Cash and Assets - Cash and cash equivalents increased by 406.0% to approximately RMB 196.1 million, up from RMB 38.8 million in the previous year, primarily due to collections from trade receivables [34]. - Total assets amounted to RMB 349.7 million, reflecting a slight increase of 0.8% from RMB 346.7 million in the previous year [13]. - The group's current assets and current liabilities were approximately RMB 338.6 million and RMB 210.0 million, respectively, compared to RMB 295.7 million and RMB 202.7 million in the previous year [36]. - Trade and other receivables decreased by 44.5% to approximately RMB 142,500,000 as of December 31, 2023, from approximately RMB 257,000,000 as of December 31, 2022 [59]. Business Operations - The group's energy business sales cost decreased to approximately RMB 193.4 million from RMB 208.5 million in the previous year, attributed to lower LNG supply costs [23]. - The energy business in Tianjin saw a significant revenue drop, with the North District generating RMB 94.1 million, down from RMB 185.5 million in the previous year [31]. - The energy business's revenue primarily came from LNG supply and management of LNG supply stations, with ongoing competition in the LNG supply business [156]. - The company is focusing on the recovery and expansion of its energy business, considering areas beyond LNG supply [147]. - The company has secured new LNG customers in Tianjin, although one major LNG station has suspended operations due to national gas network renovations [154]. - The company anticipates a continued decrease in the number of new projects in the future due to market saturation in coal-to-gas initiatives in Tianjin [156]. Strategic Plans - The group plans to utilize 50% of the proceeds from convertible bonds for general working capital and the other 50% for enhancing existing business operations [42]. - The company plans to expand its LNG supply network and pipeline gas market in northern China while seeking opportunities in overseas markets [74]. - The company aims to become a leading integrated energy service provider in the Greater China region and ASEAN countries along the Belt and Road Initiative [122]. - The company plans to expand its business through joint ventures and acquisitions, focusing on stable LNG supply and management services [95]. - The company is actively exploring partnerships to prepare for entry into the pipeline gas market, leveraging the growth in LNG demand [93]. - The company is collaborating with ASEAN countries under the Belt and Road Initiative to provide stable LNG supply and consulting services [154]. Financial Management - The company's debt-to-equity ratio increased to 67.6% as of December 31, 2023, from 59.5% as of December 31, 2022, due to a decrease in new bank borrowings [61]. - The net asset liability ratio increased to 67.6%, up from 59.5% in the previous year [126]. - Administrative expenses increased by 23.5% to approximately RMB 30,000 million, primarily due to higher share-based payments and travel costs [137]. - Financial costs rose significantly to approximately RMB 1,800 million, an increase of 700.4% from the previous year's RMB 200 million [138]. - The management has taken measures to improve the group's liquidity and financial position, which are crucial for the ongoing operation of the company [195]. - The company is preparing its financial statements based on the going concern basis, which depends on the success of the measures taken [195]. Shareholder Information - The company does not recommend any dividend payment for the current year, consistent with the previous year [67]. - The company agreed to sell approximately 28.38% of its total issued shares, equivalent to 1,040,640,000 shares, to the buyer [179]. - The completion date for the share transaction has been extended multiple times, with the latest extension to March 28, 2024 [179]. - Depot Up Limited holds 640,000,000 shares, representing 17.45% of the total issued share capital [184]. - The company has not entered into any arrangements allowing directors to gain benefits through the acquisition of shares or bonds of the company or any other corporation during the year [188]. - The company has a significant number of shares held by beneficial owners, indicating a concentrated ownership structure [181]. Market Outlook - By 2040, the share of natural gas and LNG in China's energy structure is expected to increase from 7% to 12% or more [70]. - China aims to achieve an annual natural gas production of over 230 billion cubic meters by 2025, with storage capacity reaching 55 to 60 billion cubic meters [72]. - Global LNG trade volume increased from 397 million tons in 2022 to 404 million tons in 2023, indicating a rising demand for natural gas [91]. - China's natural gas infrastructure has expanded by over 3,000 kilometers, with an increase in storage capacity of approximately 5 billion cubic meters, providing significant opportunities for the company [93]. - The global LNG demand is projected to reach between 625 million to 685 million tons annually by 2040, highlighting future growth potential [91].

Financial Performance - The company reported total equity attributable to owners of the company at RMB 104,763,000 as of December 31, 2023, down from RMB 109,789,000 in the previous year, reflecting a decrease of approximately 4.7%[8] - The company’s total liabilities amounted to RMB 210,428,000 as of December 31, 2023, compared to RMB 203,776,000 in the previous year, indicating an increase of about 3.2%[15] - The company’s total comprehensive income attributable to owners decreased to RMB 20,794,000 for the year ended December 31, 2023, from RMB 27,450,000 in the previous year, a decline of approximately 24.3%[8] - The company reported a total loss of RMB 4,025,000 for the year ending December 31, 2023, compared to a loss of RMB 3,739,000 in 2022[56] - The loss attributable to the company's owners for 2023 was RMB 6,656,000, compared to RMB 5,254,000 in 2022, indicating an increase in losses[61] - The total comprehensive loss attributable to the company's owners was approximately RMB 6,700,000 this year, compared to RMB 5,300,000 last year[123] - The group recorded a net loss after tax of approximately RMB 4 million, compared to a net loss of approximately RMB 3.7 million in the previous year[90] Revenue and Income - Revenue for the energy business in 2023 was RMB 186,481,000, a decrease from RMB 200,137,000 in 2022, representing a decline of approximately 6.8%[40] - LNG sales contributed RMB 185,515,000 to revenue in 2023, down from RMB 199,412,000 in 2022, indicating a decrease of about 6.9%[40] - The company's energy business revenue decreased by 6.8% from approximately RMB 200,100,000 in the previous year to approximately RMB 186,500,000, accounting for 99.9% of total revenue[151] - Other income for 2023 was RMB 6,480,000, a decrease of 32.5% from RMB 9,574,000 in 2022[34] - Rental and operational management service income decreased to RMB 5,435,000 in 2023 from RMB 9,103,000 in 2022, representing a decline of 40.5%[34] - The company reported other income of RMB 6,480,000 in 2023, compared to RMB 9,574,000 in 2022, reflecting a decrease of about 32.5%[56] Expenses and Costs - Financial costs increased to RMB 1,801,000 in 2023 from RMB 225,000 in 2022, a significant rise[34] - Administrative expenses increased by 23.5% from approximately RMB 24,300,000 last year to approximately RMB 30,000,000 this year, mainly due to increased share-based expenses, travel, and entertainment costs[113] - The sales cost for the energy business decreased to approximately RMB 193.4 million from approximately RMB 208.5 million in the previous year, primarily due to lower LNG supply costs[111] - The gross loss from the energy business was RMB 6,964,000 in 2023, compared to a gross loss of RMB 8,341,000 in 2022, showing an improvement of approximately 16.4%[56] Assets and Liabilities - Trade receivables for 2023 amounted to RMB 331,119,000, down from RMB 396,539,000 in 2022, reflecting a decrease of approximately 16.5%[72] - The impairment provision for trade receivables decreased from RMB 292,956,000 in 2022 to RMB 226,218,000 in 2023, a reduction of about 22.8%[72] - The company’s total trade and other receivables, after impairment, was RMB 142,523,000 in 2023, down from RMB 256,981,000 in 2022, reflecting a decrease of approximately 44.4%[72] - The company reported a total of RMB 94,082,000 in bank borrowings and other loans for 2023, with bank borrowings at RMB 8,000,000 and other loans at RMB 86,082,000[64] - The company’s total liabilities included trade and other payables amounting to RMB 113,905,000 in 2023, slightly down from RMB 114,403,000 in 2022[68] Financing and Investments - The company has a repayment schedule for convertible bondholders, with each installment approximately RMB 4,550,000, totaling RMB 48,080,000 by December 2024[22] - The group successfully secured bank financing to pay off convertible bondholders[24] - The group is seeking bank financing to settle the final payment of approximately RMB 48.08 million and applicable interest to the convertible bondholders[100] - The company issued convertible bonds on November 16, 2020, raising approximately HKD 97,500,000 (around RMB 82,700,000), with 50% allocated for general working capital and 50% for enhancing existing business[1] Strategic Initiatives - The company aims to develop green low-carbon industries and promote green consumption as part of its strategy to meet national climate goals[1] - The company has implemented a comprehensive savings strategy to support its green transformation efforts[1] - The company plans to expand its business through joint ventures and acquisitions, focusing on stable LNG supply and management services[149] - The group is actively exploring opportunities in the LNG supply chain, particularly in relation to the Belt and Road Initiative, which aims to enhance economic connectivity between Asia, Europe, and Africa[180] Market Outlook - China's natural gas and LNG share in the energy structure is expected to increase from 7% to 12% or more by 2040[1] - By 2030, China's annual natural gas consumption is expected to reach up to 400 billion cubic meters, prompting the construction of 34 coastal LNG receiving stations[165] - The global LNG trade volume increased from 397,000,000 tons in 2022 to 404,000,000 tons in 2023, with demand expected to reach 625,000,000 to 685,000,000 tons by 2040[147] - The company anticipates a continued decrease in the number of new projects in the energy business due to market saturation, particularly in Tianjin's coal-to-gas initiatives[124] Compliance and Governance - The group adopted the revised International Accounting Standard 12 effective January 1, 2023, which narrows the scope of initial recognition exemptions[27] - The group has implemented guidance from the Hong Kong Institute of Certified Public Accountants regarding the accounting impact of the abolition of the MPF offsetting mechanism[37] - Management assessed that the changes in accounting policies will not have a significant impact on the group's financial position and performance[38] - The company has adopted a shareholder communication policy to ensure timely and equal access to information for shareholders[175] Human Resources - As of December 31, 2023, the group had approximately 29 full-time employees in China and 16 in Hong Kong, emphasizing the importance of qualified personnel for business success[179]