Share Option Plan - The new share option plan was adopted in 2022, allowing the company to grant options to selected eligible participants as a reward for their contributions[3]. - The remaining duration of the new share option plan is approximately 7.24 years as of December 31, 2024[4]. - As of December 31, 2024, the number of options available for grant under the new share option plan is zero shares[4]. - The maximum allocation for each participant under the new share option plan cannot exceed 1% of the issued shares[5]. - The company has not implemented any other share option plans that comply with GEM Listing Rules Chapter 23 as of the fiscal year ending December 31, 2024[6].

Operations and Market Position - The Group's operations focus on the manufacture and sales of liquefied coalbed gas, primarily located in the Shanxi Qinshui Basin, which is known for its rich reserves [19]. - Significant investments have been made in resource exploration and exploitation at coalbed methane blocks in Yangcheng, Shanxi, since July 2011, enhancing the Group's position in China's unconventional gas market [21]. - The Group aims to stabilize natural gas supply and increase utilization of its liquefied natural gas (LNG) plant through successful gas supply initiatives [21]. - The Group's distribution network extends to various regions, including Shanxi Province, ensuring a broad market reach [20]. - The Group's commercial production of coalbed gas has transformed it into a vertically integrated natural gas company [21]. - The Group's commitment to enhancing its leading position in the market is reflected in its ongoing investments and strategic initiatives [21]. - The Group has developed a diversified customer base, including industrial, commercial, and residential customers, optimizing its sales mix to reduce uncertainty in future natural gas sales [32]. - The Group has established a complete business process covering CBM extraction, liquefaction, pipelines, transportation, distribution, and technical services [26]. Financial Performance - The Group recorded a consolidated turnover of approximately RMB243,568,000 for the year ended 31 December 2024, representing an increase of approximately 1.73% compared to the previous year [49]. - The Group reported a loss attributable to equity shareholders of approximately RMB34,645,000 for the year ended 31 December 2024, compared to a profit of approximately RMB2,530,000 for the year ended 31 December 2023 [50]. - The value-added tax refund decreased from RMB7,723,000 to RMB2,439,000, and government grants decreased from RMB3,607,000 to RMB1,014,000 in 2024 [51]. - The Group's profitability and cash flow position are projected to improve as the number of production wells increases and their capabilities are enhanced [27]. - The Group's natural gas extraction business has generated revenue, profit, and cash flow, with expectations for further improvement as the number and capabilities of production wells increase [27]. - As of December 31, 2024, the Group had net assets of approximately RMB 123,052,000, including cash and bank balances of approximately RMB 48,484,000 [65]. - The Group's gearing ratio was approximately 20.98% as of December 31, 2024, compared to 11.78% in 2023 [65]. Research and Development - The Group commenced R&D on a new technology for natural gas production in 2016, which is currently under development and aims to achieve stable long-term operation at reduced temperatures [42]. - The Group discovered a thermal extraction technology that enhances reserves and increases production through thermal transformation of underground coal minerals, which is expected to positively impact upstream wellhead gas output [44]. - The thermal extraction technology is still in the preparatory stage, but its successful development is anticipated to provide stable gas supply for the Group's liquefied natural gas plants [45]. - The Group's R&D on the ultra-high-temperature steam-induced coal mineral transformation technology began in 2016, with pilot operations starting in June 2021 [80][81]. - By the end of 2024, the small-scale pilot unit using domestically produced heat-resistant steel failed to achieve stable long-term operation at 1,100°C [80][81]. - The Group shifted its focus to reducing reaction temperatures, achieving a basic operating environment of 1,000°C as of January 2025 [80][81]. - Successful development of the thermal extraction technology will ensure a stable gas supply for the Group's liquefied natural gas plants, enhancing profitability [83]. Corporate Governance - The Group has complied with all provisions in the Company Code and the Code Provisions during the year ended December 31, 2024, except for specific provisions related to the Chairman and Chief Executive [94]. - The Board consists of nine Directors, including five executive Directors and three independent non-executive Directors, ensuring compliance with GEM Listing Rules [98]. - The Company has adhered to all provisions of the corporate governance code for the year ending December 31, 2024, except for specific deviations noted in the corporate governance report [99]. - The independent non-executive Directors have confirmed their independence in accordance with Rule 5.09 of the GEM Listing Rules, ensuring at least one-third of the Board is independent [104]. - The Board is responsible for the overall leadership and control of the Company, including setting objectives, strategies, and monitoring financial performance through annual budgets [114]. - The Company has delegated day-to-day management responsibilities to management staff under the supervision of the Board, ensuring effective operational oversight [116]. - The roles of the chairman and chief executive are separated, with Mr. Wang Zhong Sheng serving as chairman and other executive Directors undertaking CEO duties [117]. - The Company has complied with GEM Listing Rules regarding the appointment and rotation of independent non-executive Directors, ensuring proper governance practices [108]. - The Board has reviewed corporate governance policies, training for directors, and compliance with legal requirements in 2024 [109]. Environmental and Social Responsibility - The Group emphasizes social responsibility while developing in the new energy sector, aiming to provide high-quality clean energy [22]. - The Group emphasizes its commitment to environmental and social responsibility, ensuring compliance with relevant laws and regulations [37]. - The Environmental, Social, and Governance (ESG) report reflects the Board's dedication to minimizing environmental impact and addressing climate change challenges [200]. - The Company is committed to sustainable development in the natural gas sector, focusing on extraction, liquefaction, production, and sale of natural gas [200]. Workforce and Diversity - The current Board consists of nine Directors aged between 38 and 77, with diverse experience in natural gas, engineering, and finance [156]. - The Company aims to maintain a diverse Board composition based on various factors including skills, knowledge, and experience [155]. - The Group has a workforce gender ratio of approximately 2:1, favoring males [160]. - The Remuneration Committee reviewed the remuneration packages of Directors considering market conditions and individual contributions [150]. - The Board Diversity Policy aims to achieve gender balance by December 31, 2024, and includes members with diverse industry experience [160]. Audit and Compliance - The Audit Committee conducted two meetings in 2024, reviewing the Group's quarterly, half-yearly, and annual results [175]. - The Group's results for the year ended December 31, 2024, were deemed compliant with applicable accounting standards and GEM Listing Rules [177]. - The external auditors, KTC Partners CPA Limited, received approximately RMB1,250,000 for audit services in 2024, with no non-audit services provided [187]. - The Audit Committee concluded that the Group has established a sound internal control environment and complied fully with the internal control and risk management code provisions in 2024 [186]. - The Company has published annual, interim, and quarterly reports containing detailed information about the Group, emphasizing the importance of shareholder feedback [193].

Financial Performance - For the fiscal year ending December 31, 2024, the group's revenue was approximately RMB 243,568,000, an increase of about 1.73% compared to RMB 239,421,000 for the fiscal year ending December 31, 2023[5]. - The group reported a loss of approximately RMB 34,646,000 for the fiscal year ending December 31, 2024, compared to a profit of approximately RMB 2,155,000 for the fiscal year ending December 31, 2023[5]. - The loss per share for the fiscal year ending December 31, 2024, was RMB 8.87, while the earnings per share for the fiscal year ending December 31, 2023, was RMB 0.69[5]. - The gross profit for the fiscal year ending December 31, 2024, was RMB 26,338,000, compared to RMB 26,375,000 for the fiscal year ending December 31, 2023[6]. - The total comprehensive loss for the fiscal year ending December 31, 2024, was RMB 37,749,000, compared to a total comprehensive income of RMB 10,352,000 for the fiscal year ending December 31, 2023[7]. - The company reported a total comprehensive income of RMB 10,352 thousand for the year, compared to a loss of RMB 34,645 thousand in the previous year[10]. - The company reported a loss attributable to equity shareholders of RMB 34,645,000 for 2024, compared to a profit of RMB 2,530,000 in 2023[52]. Dividends and Shareholder Returns - The board of directors has resolved not to recommend the payment of a final dividend for the fiscal year ending December 31, 2024[5]. - The company did not recommend the payment or declaration of dividends for the fiscal year ending December 31, 2024, consistent with the previous year[45]. - The basic loss per share for the fiscal year ending December 31, 2023, was calculated based on the weighted average number of ordinary shares of 367,723,000, adjusted for the share consolidation completed on January 5, 2023[38]. Assets and Liabilities - Total assets decreased from RMB 338,338 thousand in 2023 to RMB 327,749 thousand in 2024, a decline of approximately 3.5%[8]. - Non-current assets decreased from RMB 251,580 thousand in 2023 to RMB 237,193 thousand in 2024, a reduction of about 5.7%[8]. - Current liabilities increased from RMB 171,193 thousand in 2023 to RMB 201,725 thousand in 2024, an increase of approximately 17.8%[9]. - Net asset value decreased from RMB 160,801 thousand in 2023 to RMB 123,052 thousand in 2024, a decline of about 23.5%[9]. - The company’s total liabilities increased from RMB 171,193 thousand in 2023 to RMB 201,725 thousand in 2024, reflecting a rise of approximately 17.8%[9]. - The company's current liabilities exceeded its current assets by approximately RMB 111,169,000 as of December 31, 2024, raising significant doubts about its ability to continue as a going concern[15]. Cash Flow and Financing - The company’s cash and cash equivalents increased from RMB 45,444 thousand in 2023 to RMB 48,484 thousand in 2024, an increase of approximately 5.4%[8]. - The group anticipates generating positive cash flow from operations in the foreseeable future[17]. - The total amount owed to construction and material suppliers is approximately RMB 63,700,000, with suppliers agreeing not to demand repayment before May 31, 2026[17]. - An unsecured loan of approximately RMB 10,400,000 has had its repayment period extended to May 31, 2026[17]. - The group is in discussions with several banks to obtain additional financing as needed[17]. Operational Highlights - The company did not report any significant new product developments or market expansions during the fiscal year[5]. - There were no acquisitions or major strategic changes announced in the latest earnings report[5]. - Sales of liquefied coalbed gas amounted to RMB 207,873,000, up 19.7% from RMB 173,613,000 in the previous year[23]. - The total employee cost for 2024 was RMB 26,001,000, slightly up from RMB 25,612,000 in 2023[32]. - The company wrote off construction costs of approximately RMB 22,427,000 in 2024 due to the termination of a drilling development project[52]. - The group completed the surface construction and drilling of 229 coalbed methane wells, with 170 of them being productive wells, which have been in stable production since coming online[59]. Technology and Development - The group has initiated the development of a new technology for natural gas production, which is expected to provide raw gas for the liquefied natural gas project and generate additional revenue through technology usage fees[66]. - The group is also developing a thermal extraction technology that is anticipated to positively impact upstream well output, with plans to offer related services and equipment sales to coalbed methane extraction companies[67]. - The development of thermal extraction technology is expected to stabilize gas supply for the liquefied natural gas plant, reducing operational risks and enhancing commercial value[68]. Governance and Compliance - The company has established an audit committee in compliance with GEM Listing Rules, which held four meetings during the year[89]. - The company has complied with all applicable provisions of the Corporate Governance Code as of December 31, 2024[92]. - The roles of the Chairman and CEO are separated, ensuring a balance of power and authority within the board[93]. - All independent non-executive directors have confirmed their independence according to GEM Listing Rules[96]. - The board of directors is responsible for ensuring the accuracy and completeness of the information disclosed in the announcement[99]. Share Options and Equity - The previous share option plan allowed for the issuance of 32,119,074 options, all of which have expired without being exercised[75]. - The new share option plan, effective for 10 years, has no options available for grant as of December 31, 2024[76]. - The total number of unexercised share options as of January 1, 2024, is 10,865,003 shares, with a weighted average exercise price of HKD 0.456[81]. - The total number of share options granted during the year is 24,100,003, all of which are immediately vested for a contract term of 10 years[81].

2024 INTERIM REPORT 中期報告 中 國 煤 層 氣 集 團 有 限 公 司 China CBM Group Company Limited (於開曼群島註冊成立並在百張建繼續營業之有限公司) (Incorporated in the Cayman Islands and continued in Bermuda with Imited liability) 股份代號：Stock Code: 8270 CHARACTERISTICS OF THE GROWTH ENTERPRISE MARKET ("GEM") OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospect ...

Company Overview - China CBM Group Company Limited reported its interim results for the six months ending June 30, 2024[1]. - The company is listed on the GEM of the Stock Exchange of Hong Kong, which is designed for companies with higher investment risks[2]. - The company’s registered office is located in Bermuda, while its principal place of business is in Tsuen Wan, Hong Kong[8]. - The principal banker for the company is Bank of China (Hong Kong) Limited[9]. - The company operates primarily in the People's Republic of China, with all business activities transacted in RMB[20]. Financial Performance - The Group's revenue for the six months ended June 30, 2024, was approximately RMB 120,057,000, representing an increase of approximately 18.3% compared to the corresponding period in the previous financial year[10]. - The Group recorded a loss attributable to equity shareholders of approximately RMB 4,113,000 for the Interim Period[10]. - Loss per share for the Group was approximately RMB 1.05 cents for the Interim Period[10]. - Gross profit for the Interim Period was RMB 14,695,000, compared to RMB 15,398,000 in the same period of 2023[12]. - Total comprehensive loss for the period was (4,831,000), compared to a total comprehensive income of 2,147,000 in the same period of 2023[13]. - The loss for the period was RMB 4,113,000, contributing to a total comprehensive loss of RMB 4,831,000 for the six months ended June 30, 2024[18]. - Revenue for the sale of liquefied coalbed gas reached RMB 108,150,000, a 39.6% increase from RMB 77,426,000 in the same period of 2023[22]. - The gross profit margin decreased from 15.2% to 12.2% due to a decline of more than 10% in LNG selling prices during the period[50]. Assets and Liabilities - Total assets as of June 30, 2024, were RMB 354,584,000, an increase from RMB 338,338,000 as of December 31, 2023[14]. - Current liabilities totaled RMB 195,214,000 as of June 30, 2024, compared to RMB 171,193,000 as of December 31, 2023[14]. - Net current liabilities were (88,800,000) as of June 30, 2024, compared to (84,435,000) as of December 31, 2023[15]. - Equity attributable to equity shareholders of the Company was RMB 160,186,000 as of June 30, 2024, down from RMB 165,017,000 as of December 31, 2023[16]. - The total equity attributable to shareholders at June 30, 2024, was RMB 155,970,000, down from RMB 160,800,000 at the beginning of the year[18]. Cash Flow - For the six months ended June 30, 2024, cash inflow from operating activities was RMB 8,623,000, compared to a cash outflow of RMB 5,529,000 in the same period of 2023[17]. - Cash outflow from investing activities decreased to RMB 5,567,000 from RMB 7,152,000 year-over-year[17]. - Cash inflow from financing activities increased significantly to RMB 9,557,000, up from RMB 5,120,000 in the previous year[17]. - The net cash and bank balances at June 30, 2024, were RMB 58,057,000, compared to RMB 142,873,000 at the same date in 2023[17]. - The company reported a cash balance of RMB 45,444,000 at January 1, 2024, which increased to RMB 58,057,000 by June 30, 2024[17]. Corporate Governance - The audit committee is chaired by Mr. Lau Chun Pong, ensuring oversight of financial reporting[7]. - The board of directors collectively accepts full responsibility for the report's contents[4]. - The Company emphasizes adherence to corporate governance standards[98]. - The Company maintains a commitment to transparency and independence in its governance structure[98]. - The Company has confirmed the independence of all its independent non-executive Directors as per GEM Listing Rules[98]. Shareholder Information - As of June 30, 2024, Jumbo Lane Investments Limited held 2,264,812 shares in the company[75]. - Mr. Wang Zhong Sheng owned 299,028,739 long positions, including 288,661,440 shares and convertible bonds convertible to 10,367,299 shares[75]. - Ms. Zhao Xin, as the spouse of Mr. Wang Zhong Sheng, is deemed to have an interest in 301,293,551 shares, representing approximately 77.17% of the shareholding[79]. - The company did not issue any debentures during the interim period[76]. - The company has not granted any rights to acquire shares or debentures to directors or their family members during the interim period[81]. Operational Highlights - The Group has completed the groundwork and drilling of 229 CBM wells, with 164 wells in stable production[56]. - The production capacity of the Group's LNG plants remains at approximately 500,000 cubic meters per day, with an average daily production of around 276,000 cubic meters during the Interim Period[57]. - The daily gas output from the upstream business was insufficient to fully utilize the liquefaction plant's daily production capacity of 500,000 cubic meters[68]. - The Group commenced R&D on C-H to Synthesis of natural gas production in 2017, with small-scale production expected to start by the end of 2021[68]. Future Outlook - The Group anticipates that the demand for natural gas will continue to grow strongly, driven by increasing environmental concerns and the elimination of highly-polluted energy sources[71]. - The management is committed to overcoming challenges to contribute to the Company's profitability and long-term development[71]. - The Group has no plans for acquisition or investment beyond intended investments in upstream CBM exploration and extraction[62].

Operations and Market Position - The Group's operations focus on the manufacture and sales of liquefied coalbed gas, primarily located in the Shanxi Qinshui Basin, which is known for its rich resources [21]. - Significant investments have been made in resource exploration and exploitation at coalbed methane blocks in Yangcheng, Shanxi, since July 2011, enhancing the Group's position in China's unconventional gas market [23]. - The Group aims to stabilize natural gas supply and increase utilization of its liquefied natural gas (LNG) plant through successful gas supply initiatives [23]. - The Group's distribution network extends to various provinces, including Shanxi, ensuring a broad market reach [22]. - The Group has transformed into a vertically integrated natural gas company through commercial production of coalbed gas, enhancing its market leadership [23]. - The Group has established a complete business process covering CBM extraction, liquefaction, transportation, and distribution, enhancing its position in the natural gas market [29]. - The Group's strategic focus on vertical integration has strengthened its market position in unconventional natural gas production [29]. Financial Performance - The Group recorded a consolidated turnover of approximately RMB239,421,000 for the year ended 31 December 2023, representing a decrease of approximately 26.67% compared to RMB325,680,000 in 2022 [57]. - Profit attributable to equity shareholders for the year ended 31 December 2023 was approximately RMB2,530,000, a significant decrease from RMB127,293,000 in 2022 [58]. - The decrease in profits was primarily due to the absence of a gain on disposal of a business in 2023, which was approximately RMB100,797,000 in 2022 [59]. - As of December 31, 2023, the Group had net assets of approximately RMB 160,801,000, including cash and bank balances of approximately RMB 45,444,000 [75]. - The Group's gearing ratio was approximately 11.78% as of December 31, 2023, compared to 6.59% in 2022 [75]. - The total cost of staff recognized in profit or loss for the year was approximately RMB 25,612,000, down from approximately RMB 31,848,000 in 2022 [82]. - The Group has no significant investments or material acquisitions of subsidiaries during the year ended December 31, 2023 [85]. Production and Technology Development - As of December 31, 2023, the Group has completed the groundwork and drilling of 229 Coalbed Methane (CBM) wells, with 164 wells currently in stable production [29]. - The average daily production of the Group's LNG plants was approximately 180,000 cubic meters, while the production capacity remained at around 500,000 cubic meters per day [35]. - The Group's focus on improving production well capabilities has positively impacted profitability and cash flow, with expectations for further improvement as production well numbers increase [30]. - The Group is committed to advancing CBM extraction technology and techniques, investing heavily in research and development to maintain its technological leadership [37]. - The Group commenced R&D on a new technology for natural gas production, named High-temperature-water Activate C-H to Synthesis of Natural-gas Technology, with small-scale production expected to start by the end of 2021 [50]. - The first pilot equipment for the new technology underwent trial runs in June 2021, and an improved design plan was proposed in November 2021 [51]. - The Group plans to conduct advanced demonstrations of the second pilot equipment overseas upon its completion, inviting internationally renowned experts for evaluation [93]. - The successful development of C-H to Synthesis of natural gas production will allow the Group to reduce exposure to external factors and risks [96]. Environmental and Social Responsibility - The Group emphasizes social responsibility while developing in the new energy sector, aiming to provide high-quality clean energy [24]. - The Group's commitment to environmental sustainability is highlighted in its operational strategies and future outlook [24]. - The Group has complied with all relevant laws and regulations, demonstrating its commitment to environmental and social responsibilities [43]. - There is a strong market demand for natural gas, driven by growing environmental concerns and the elimination of highly-polluted energy sources [97]. Governance and Board Structure - The Company has complied with all provisions in the Company Code and the Code Provisions during the year ended December 31, 2023, except for specific provisions [106]. - The Board held 18 meetings in 2023, with regular meetings typically occurring every three months [134]. - The Company has three independent non-executive Directors, representing at least one-third of the Board, in compliance with GEM Listing Rules [115]. - The independent non-executive Directors have confirmed their independence annually as per Rule 5.09 of the GEM Listing Rules [116]. - The Board is responsible for the overall leadership and supervision of the Company's business and affairs [122]. - The Company has adopted a code of conduct for securities trading by Directors, adhering to GEM Listing Rules [116]. - The roles of the chairman and chief executive are separated to maintain a balance of power and authority [128]. - The Board is accountable to shareholders and responsible for preparing the accounts [125]. - The Company has established policies for business activities, internal controls, and administration [132]. Diversity and Inclusion - The Company aims to maintain a balance of gender diversity in recruiting key management and personnel across its operations [171]. - The Board plans to appoint at least one director of a different gender by December 31, 2024, to enhance gender diversity [161]. - As of December 31, 2023, the Group has a workforce gender ratio of approximately 2:1 (male to female) [169]. - The Board has set measurable objectives to ensure a balance of male and female representation by December 31, 2024 [167]. - The Nomination Committee is satisfied with the existing composition of the Board and recommends no changes in the near future [175]. Audit and Compliance - The Audit Committee held four meetings in 2023 to review the Group's annual financial results and internal control systems [180]. - The Group's results for the year ended December 31, 2023, were reviewed and deemed compliant with applicable accounting standards and GEM Listing Rules [186]. - The Company aims to present a balanced and clear assessment of its performance, position, and prospects in all corporate communications [194]. - The Board has ensured that the financial statements for the year ending December 31, 2023, reflect the Group's performance and cash flow accurately [196]. - The external auditors, KTC Partners CPA Limited, received approximately RMB1,250,000 for audit services and RMB137,000 for non-audit services in 2023 [200]. - The Audit Committee concluded that the Group has established a sound internal control environment and complied with the code provisions on internal controls and risk management in 2023 [199]. - The Group has adopted suitable accounting policies and applied them consistently, ensuring accounts are prepared on a going concern basis [197].

Production and Operations - As of December 31, 2023, the Group has completed the groundwork and drilling of a total of 229 CBM wells, with 164 operating wells contributing to stable production[20] - The Group's focus on improving production well capabilities has positively impacted revenue, profit, and cash flow from natural gas exploitation, with expectations for further improvement as production well numbers increase[20] - The Group has made significant investments in resources exploration and exploitation at coalbed methane blocks in Yangcheng, Shanxi, enhancing its position in China's unconventional gas market[16] - The commercial production of coalbed gas has transformed the Group into a vertically integrated natural gas company, stabilizing its natural gas supply[16] - The Group's profitability and cash flow position are expected to improve further as the capabilities of production wells increase[20] - As of December 31, 2023, the company has completed groundwork and drilling of 229 wells in the Yangcheng gas block, resulting in a stable increase in production wells and gas output[67] - The average daily production of the Group's LNG plants was approximately 180,000 cubic meters, while the production capacity remained at about 500,000 cubic meters per day[69] - The Group's upstream business is steadily improving, with ongoing enhancements in well construction and gas output[105] - The upstream business is steadily improving, with daily gas output insufficient to fully utilize the 500,000 cubic meters daily production capacity of the liquefaction plant[149] Financial Performance - The Group recorded a consolidated turnover of approximately RMB239,421,000 for the year ended 31 December 2023, representing a decrease of approximately 26.67% compared to RMB325,680,000 for the year ended 31 December 2022[83] - Profit attributable to equity shareholders for the year ended 31 December 2023 was approximately RMB2,530,000, a significant decrease from RMB127,293,000 for the year ended 31 December 2022[83] - The decrease in profits was primarily due to the absence of a gain on disposal of a business in 2023, which was approximately RMB100,797,000 in 2022[83] - The total staff cost recognized in the profit or loss account for the year was approximately RMB 25,612,000, down from approximately RMB 31,848,000 in 2022[124] - The Group's net assets as of December 31, 2023, were approximately RMB 160,801,000, including cash and bank balances of approximately RMB 45,444,000[122] - The Group's gearing ratio was approximately 11.78% as of December 31, 2023, compared to 6.59% in 2022[122] Technology and Innovation - The company has commenced R&D on High-temperature-water Activate C-H to Synthesis of Natural-gas Technology, with small-scale production expected to start by the end of 2021[59] - The first pilot equipment for the new technology underwent trial runs in June 2021, with an improved design plan proposed in November 2021[59] - The Group is investing heavily in developing and advancing its coalbed methane extraction technology and techniques to maintain its technological leadership[71] - The Group has initiated the development of a hydrocarbon gas production project, with plans for small-scale production by the end of 2021, although delays have occurred due to supply chain disruptions[105] - The successful development of the C-H to Synthesis technology will allow the Group to directly supply natural gas to urban gas networks, creating new revenue opportunities[150] Market and Demand - The demand for natural gas in China is increasing, with the government emphasizing the development of clean energy, which presents significant growth potential for the company[55] - The existing conventional natural gas production is unlikely to meet China's strong demand in the coming years, necessitating encouragement for unconventional gas production[55] - The Group is positioned as a leading player in the unconventional natural gas market in China, benefiting from favorable government policies[55] - The Group's focus on clean energy development aligns with the increasing demand for natural gas in China, driven by government support for unconventional gas production[79] Corporate Governance and Compliance - The Group's annual performance announcement complies with the GEM Listing Rules, ensuring transparency and accuracy in reporting[24] - The Company declared a special dividend of HK$0.2576 per share on June 19, 2023, payable on July 26, 2023, with no other dividends recommended for the year ended December 31, 2023[173] - The Group has applied new and amendments to HKFRSs for the first time, which are effective for the annual period beginning on January 1, 2023, with no material impact on financial positions and performance[170] - The Company has received annual confirmations of independence from each independent non-executive Director, who are considered to have remained independent[175] - The Group did not allocate any interest to capital during the year, aside from what has been disclosed in the report[183] Environmental and Social Responsibility - The Group is committed to fulfilling its environmental and social responsibilities to ensure sustainable business development[56] - The Group is committed to environmental and social responsibility, ensuring compliance with relevant laws and regulations[74] - The Group anticipates that the upstream gas supply will stabilize, reducing external risk factors and providing new profit growth points through collaboration with urban gas networks[150]

Financial Performance - The Group's revenue for the nine months ended September 30, 2023, was approximately RMB 175,717,000, representing a decrease of approximately 29.87% compared to the corresponding period in the previous financial year[6]. - The Group recorded a loss attributable to owners of the Company of approximately RMB 9,522,000 for the nine months ended September 30, 2023[6]. - Loss per share for the Company was approximately RMB 2.64 cents for the nine months ended September 30, 2023[6]. - The Group's loss for the quarter ended September 30, 2023, was RMB 1,880,000, compared to a profit of RMB 114,203,000 in the same quarter of 2022[10]. - Basic loss per share for the quarter was (0.48) RMB cents, compared to earnings of 43.00 RMB cents in the same quarter of 2022[10]. - The Group's total comprehensive loss for the nine months ended September 30, 2023, was RMB 9,679,000[10]. - The Group's total comprehensive income for the nine months ended September 30, 2022, was RMB 102,474,000[10]. - The total comprehensive income for the period was RMB 101,166,000, compared to RMB 105,909,000 in the same period last year, indicating a decrease of 4.0%[18]. - The company reported a loss of RMB 3,522,000 for the period, which is an improvement from a loss of RMB 5,522,000 in the previous year[18]. - The company achieved a total comprehensive profit of RMB 4,753,000 for the quarter, compared to RMB 101,166,000 in the previous year, indicating a significant decline[18]. - The total comprehensive loss attributable to equity shareholders was RMB 2,302,000 for the quarter, compared to a profit of RMB 114,862,000 in Q3 2022[32]. - The Group recorded a consolidated turnover of approximately RMB 175,717,000 for the Review Period, representing a decrease of approximately 29.87% compared to the corresponding period last year[73]. - The loss attributable to shareholders in the Review Period was approximately RMB 9,522,000, an increase primarily due to a gain on disposal of a subsidiary amounting to approximately RMB 102,288,000 in the previous year[73]. - The Group recorded a gross profit of RMB 21,305,000 in the period, down from approximately RMB 32,437,000 in the corresponding period of 2022, mainly due to a decrease in selling price per unit in the liquefaction business[73]. Revenue and Sales - Revenue for the quarter ended September 30, 2023, was RMB 62,185,000, an increase from RMB 47,100,000 in the same quarter of 2022, representing a growth of 32.5%[18]. - Total revenue for the nine months ended September 30, 2023, reached RMB 139,611,000, compared to RMB 113,299,000 for the same period in 2022, indicating a year-over-year increase of 23.2%[18]. - Sales of liquefied coalbed gas for the quarter were RMB 74,231,000, up from RMB 91,989,000 in the previous year, reflecting a decrease of 19.4%[18]. - Revenue for the quarter ended September 30, 2023, was RMB 74,231,000, a decrease from RMB 91,989,000 in the same quarter of 2022, representing a decline of 19.4%[29]. - Other net income for the quarter was RMB 163,000, compared to RMB 952,000 in the same quarter of 2022, showing a decline of 82.8%[18]. Dividends - The Board does not recommend payment of any dividend for the Review Period, except for a special dividend declared[6]. - The company did not recommend any dividend for the review period, consistent with the previous year where no dividend was declared[22]. - The company declared a special dividend of HKD 0.2576 per share, equivalent to RMB 0.233, while no dividends were declared in the same period of 2022[39]. Assets and Liabilities - As of September 30, 2023, the Group had net assets of approximately RMB 157,203,000, including cash and bank balances of approximately RMB 48,356,000[79]. - The Group's gearing ratio was approximately 12.92%, calculated by total external borrowings divided by shareholders' funds[79]. - The balance at September 30, 2023, was RMB 157,208,000, reflecting an increase from RMB 222,512,000 at the same time last year[18]. - During the nine months ended September 30, 2023, there were no material contingent liabilities reported by the Group[101]. Share Options and Ownership - As of September 30, 2023, the company had 10,865,003 options outstanding, all with a weighted average exercise price of HK$0.456[47]. - The company had granted a total of 32,119,074 options under the Previous Share Option Scheme, all of which have lapsed without any being exercised[52]. - The company adopted a new share option scheme on March 28, 2022, which will remain in force for 10 years[54]. - The number of shares that may be issued in respect of options and awards granted under the New Share Option Scheme during the period divided by the weighted average number of shares in issue for the period was approximately 3.01%[54]. - As of September 30, 2023, the Company had outstanding options to subscribe for 10,865,003 shares and convertible bonds convertible to 10,367,299 shares[102]. Corporate Governance - The Company has complied with the Corporate Governance Code provisions during the Review Period, except as disclosed[116]. - Independent non-executive Directors have confirmed their independence, and the Company considers all of them to be independent[118]. - The Company has adopted a code of conduct regarding securities dealings by Directors, with no reported non-compliance during the Review Period[118]. - The roles of chairman and chief executive are not separated, as the Company does not have a chief executive officer, deviating from the Code[116]. - The Company is considering the feasibility of appointing a separate chief executive to comply with code provision A.2.1 of the Code[107]. Operational Developments - The Group's upstream business is steadily improving, with daily gas output not fully utilizing the liquefaction plant's capacity of 500,000 cubic meters[81]. - The Group plans to construct 10 units of new equipment by 2024, each capable of producing 50,000 cubic meters of natural gas per day, to enhance gas supply stability[81]. - The successful development of the C-H to Synthesis of natural gas technology will allow the Group to reduce exposure to external risks and enhance operational stability[82]. - The demand for natural gas is expected to maintain strong growth momentum due to increasing concerns over environmental issues and the elimination of highly-polluted energy sources from the market[82]. - The Group's vertical integration business model is anticipated to provide new profit growth opportunities through cooperation with city gas pipeline networks[82]. - The Group's production capacity of the LNG plants remains unchanged at approximately 500,000 cubic meters per day, with an average daily production of around 170,000 cubic meters[90]. - The upstream business is steadily improving, with ongoing technological upgrades to old wells to enhance production capacity and output[93]. Acquisitions and Investments - The Possible Acquisition of additional equity interest in Huiyang New Energy constitutes a discloseable transaction under GEM Listing Rules, with no material interest from Directors[84]. - On March 28, 2023, the Group submitted a bid to acquire the remaining 20% equity interest in Huiyang New Energy for RMB 6,723,800[96]. - The Company completed the acquisition of additional equity interest in Huiyang New Energy on April 19, 2023, following Board approval and confirmation of fair terms by independent non-executive Directors[98]. - The Group did not engage in any significant investments, acquisitions, or disposals of subsidiaries during the review period[80].

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的任何損失承擔任何責任。 China CBM Group Company Limited 中 國 煤 層 氣 集 團 有 限 公 司 （於開曼群島註冊成立並於百慕達存續之有限公司） （股份代號：8270） 截至二零二三年九月三十日止九個月第三季業績公佈 中國煤層氣集團有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董 事」）會（「董事會」）謹此宣佈本集團截至二零二三年九月三十日止九個月的未經 審核綜合業績。本公告列載本公司二零二三年第三季季度報告（「第三季季度報告」） 之全文，乃符合香港聯合交易所有限公司GEM證券上市規則（「GEM上市規則」） 中有關全年業績初步公告附載之相關資料要求。 承董事會命 中國煤層氣集團有限公司 主席 王忠勝 中國，二零二三年十一月十三日 於本公佈日期，執行董事為王忠勝先生及常建先生，非執行董事為段士川先生，王 琛先生及梁峰先生，以及獨立非執行董事為劉振邦先生，王之和先生及徐願堅先生。 本公 ...

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。 China CBM Group Company Limited 中 國 煤 層 氣 集 團 有 限 公 司 （於開曼群島註冊成立並於百慕達存續之有限公司） （股份代號：8270） 補充公佈 茲提述本公司於二零二三年四月二日刊發之截至二零二二年十二月三十一日止年 度之年報（「年報」）。除文義另有所指外，本公佈所用詞彙與年報所界定者具有相 同涵義。 就年報所述之新購股權計劃而言，每名參與者於新購股權計劃項下之最高配額不 得超過已發行股份之1%。倘向某一名參與者進一步授出購股權將導致於截至有關 進一步授出日期（包括該日）止12個月期間因已授予及將授予該參與者之所有購股 權（包括已行使、已註銷及尚未行使之購股權）獲行使而已發行及將予發行之股份 合共超過已發行股份之1%，則此進一步授出須另行經股東於股東大會上批准，該 參與者及其聯繫人須於該大會上放棄投票，而擬向該參與者授出之購股權數目及 條款須於尋求股東批准前釐定 ...