Group 1 - The company reported a revenue of approximately RMB 57.52 million for the six months ending June 30, 2025, representing a decrease of about 52.1% compared to the same period in the previous fiscal year [1] - The company recorded a loss attributable to equity shareholders of approximately RMB 11.116 million [1] - The loss per share for the period was approximately RMB 0.0285 [1] - The company does not recommend the distribution of any dividends for this interim period [1]

Report Cover and Basic Information This section provides the company's basic information, report type, and disclaimers regarding the GEM market's characteristics and associated risks [Company Overview and Report Statement](index=1&type=section&id=Company%20Overview%20and%20Report%20Statement) China CBM Group Company Limited (Stock Code: 8270) released its unaudited interim results for the six months ended June 30, 2025, with the Board confirming the report's accuracy and completeness - Company Name: **China CBM Group Company Limited** (Stock Code: **8270**)[2](index=2&type=chunk) - Report Type: Unaudited interim results announcement for the six months ended June 30, 2025[2](index=2&type=chunk)[3](index=3&type=chunk) - Board Statement: Directors jointly and individually accept full responsibility for this announcement, confirming the information is accurate, complete, and not misleading[5](index=5&type=chunk) [GEM Market Characteristics and Disclaimer](index=2&type=section&id=GEM%20Market%20Characteristics%20and%20Disclaimer) The report highlights the HKEX GEM market's high investment risk and volatility, suitable for professional investors, and reiterates the HKEX's non-responsibility for report content - GEM Market Positioning: Provides a listing market for companies with **higher investment risks**, suitable for professional and sophisticated investors[6](index=6&type=chunk)[11](index=11&type=chunk) - GEM Market Risks: Securities may be subject to **significant market volatility** and high liquidity cannot be guaranteed[7](index=7&type=chunk)[11](index=11&type=chunk) - HKEX Disclaimer: Hong Kong Exchanges and Clearing Limited and the Stock Exchange take **no responsibility** for the contents of this report, make no representation as to its accuracy or completeness, and expressly disclaim any liability for any loss whatsoever[8](index=8&type=chunk)[11](index=11&type=chunk) Corporate Information This section details the company's governance structure, including board and committee members, key personnel, office locations, and share registration details [Board and Committee Members](index=3&type=section&id=Board%20and%20Committee%20Members) Disclosure of the company's Board members, including executive, non-executive, and independent non-executive directors, and the composition of its Audit, Nomination, and Remuneration Committees - Executive Directors: **Wang Zhong Sheng** (Chairman), **Chang Jian**, **Wang Chen**, **Chen Yi Kai**, and **Liang Zhi Hao**[14](index=14&type=chunk)[15](index=15&type=chunk) - Non-executive Director: **Li Si Liang**[14](index=14&type=chunk)[15](index=15&type=chunk) - Independent Non-executive Directors: **Liu Zhen Bang**, **Wang Zhi He**, and **Xu Yuan Jian**[14](index=14&type=chunk)[15](index=15&type=chunk) - Committee Chairmen: Audit Committee Chairman is **Liu Zhen Bang**, Nomination Committee Chairman is **Wang Zhi He**, and Remuneration Committee Chairman is **Liu Zhen Bang**[14](index=14&type=chunk)[15](index=15&type=chunk)[16](index=16&type=chunk)[17](index=17&type=chunk) [Company Secretary and Authorized Representatives](index=4&type=section&id=Company%20Secretary%20and%20Authorized%20Representatives) Names of the company's Company Secretary, Compliance Officer, and Authorized Representatives are listed - Company Secretary: **Mr. Tse Chun Lai**[16](index=16&type=chunk)[17](index=17&type=chunk) - Compliance Officer: **Mr. Wang Zhong Sheng**[16](index=16&type=chunk)[17](index=17&type=chunk) - Authorized Representatives: **Mr. Wang Zhong Sheng** and **Mr. Tse Chun Lai**[16](index=16&type=chunk)[17](index=17&type=chunk) [Offices and Registration Information](index=4&type=section&id=Offices%20and%20Registration%20Information) Provides the addresses for the company's Hong Kong head office, principal place of business, and registered office - Hong Kong Head Office and Principal Place of Business: **Unit 20, 19/F, Tsuen Fat Commercial Building, 362 Sha Tsui Road, Tsuen Wan, Hong Kong**[16](index=16&type=chunk)[17](index=17&type=chunk) - Registered Office: **Clarendon House, 2 Church Street, Hamilton HM11, Bermuda**[16](index=16&type=chunk)[17](index=17&type=chunk) [Share Registration and Other Information](index=5&type=section&id=Share%20Registration%20and%20Other%20Information) Discloses the company's principal share registrar, Hong Kong branch share registrar, auditor, principal banker, and stock code - Principal Share Registrar: **Codan Services Limited**[18](index=18&type=chunk) - Hong Kong Branch Share Registrar: **Tricor Tengis Limited**[19](index=19&type=chunk) - Auditor: **ZHONG RUI HE XIN CPA Limited**[19](index=19&type=chunk) - Principal Banker: **Bank of China (Hong Kong) Limited**[19](index=19&type=chunk) - Stock Code: **08270**[19](index=19&type=chunk) Financial Highlights For the six months ended June 30, 2025, group revenue significantly decreased by **52.1%** to **RMB 57.5 million**, with a loss attributable to equity holders of **RMB 11.1 million** and a loss per share of **RMB 2.85 cents**, and no dividend recommended 2025年上半年财务摘要 | Indicator | 2025年上半年 (RMB'000) | 2024年上半年 (RMB'000) | 同比变化 | | :--- | :--- | :--- | :--- | | Revenue | 57,520 | 120,057 | -52.1% | | Loss attributable to equity holders of the Company | (11,116) | (4,113) | 170.3% (Loss widened) | | Loss per share | (2.85) cents | (1.05) cents | 171.4% (Loss widened) | - The Board does not recommend the payment of any interim dividend for the period[20](index=20&type=chunk) Condensed Consolidated Financial Statements This section presents the group's unaudited interim financial statements, including the income statement, comprehensive income, financial position, cash flows, and changes in equity [Condensed Consolidated Income Statement](index=7&type=section&id=CONDENSED%20CONSOLIDATED%20INCOME%20STATEMENT) For the six months ended June 30, 2025, group revenue was **RMB 57.520 million**, gross profit was **RMB 8.373 million**, and loss for the period was **RMB 11.116 million**, significantly widening from the prior year 简明综合收益表关键数据 (截至6月30日止半年) | Indicator | 2025年 (RMB'000) | 2024年 (RMB'000) | | :--- | :--- | :--- | | Revenue | 57,520 | 120,057 | | Cost of sales | (49,147) | (105,362) | | Gross profit | 8,373 | 14,695 | | Other income and gains or losses | 1,046 | 85 | | Selling and distribution costs | (2,038) | (1,959) | | Administrative and other expenses | (19,096) | (14,687) | | Finance costs | (511) | (463) | | Loss before taxation | (12,226) | (2,329) | | Income tax credit/(expense) | 1,110 | (1,784) | | Loss for the period | (11,116) | (4,113) | | Basic loss per share | (2.85) cents | (1.05) cents | [Condensed Consolidated Statement of Comprehensive Income](index=9&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20COMPREHENSIVE%20INCOME) For the six months ended June 30, 2025, the group recorded a total comprehensive loss of **RMB 12.036 million**, primarily due to loss for the period and exchange differences on foreign currency financial statements, with the loss widening year-on-year 简明综合全面收益表关键数据 (截至6月30日止半年) | Indicator | 2025年 (RMB'000) | 2024年 (RMB'000) | | :--- | :--- | :--- | | Loss for the period | (11,116) | (4,113) | | Exchange differences on translation of financial statements of foreign entities | (920) | (718) | | Total comprehensive loss for the period | (12,036) | (4,831) | [Condensed Consolidated Statement of Financial Position](index=10&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20FINANCIAL%20POSITION) As of June 30, 2025, group total assets were **RMB 342.952 million**, a slight increase from year-end 2024; net current liabilities expanded to **RMB (138.798) million**, and total equity decreased to **RMB 111.016 million** 简明综合财务状况表关键数据 | Indicator | 2025年6月30日 (RMB'000) | 2024年12月31日 (RMB'000) | | :--- | :--- | :--- | | Non-current assets | 237,193 | 252,629 | | Current assets | 90,556 | 90,323 | | Total assets | 342,952 | 327,749 | | Current liabilities | 229,121 | 201,725 | | Non-current liabilities | 2,815 | 2,972 | | Net assets | 111,016 | 123,052 | | Share capital | 26,305 | 26,305 | | Reserves | 88,928 | 100,964 | | Total equity | 111,016 | 123,052 | - Net current liabilities expanded from **RMB (111.169) million** as of December 31, 2024, to **RMB (138.798) million** as of June 30, 2025[26](index=26&type=chunk) [Condensed Consolidated Statement of Cash Flows](index=12&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20CASH%20FLOWS) For the six months ended June 30, 2025, the group's net cash inflow from operating activities was **RMB 4.482 million**, net cash outflow from investing activities was **RMB (0.178) million**, and net cash outflow from financing activities was **RMB (5.332) million**, resulting in a net decrease in cash and bank balances of **RMB (1.028) million** 简明综合现金流量表关键数据 (截至6月30日止六个月) | Indicator | 2025年 (RMB'000) | 2024年 (RMB'000) | | :--- | :--- | :--- | | Net cash inflow from operating activities | 4,482 | 8,623 | | Net cash outflow from investing activities | (178) | (5,567) | | Net cash (outflow)/inflow from financing activities | (5,332) | 9,557 | | Net (decrease)/increase in cash and bank balances | (1,028) | 12,613 | | Cash and bank balances at end of period | 47,456 | 58,057 | [Condensed Consolidated Statement of Changes in Equity](index=13&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENT%20OF%20CHANGES%20IN%20EQUITY) For the six months ended June 30, 2025, the group's total equity decreased from **RMB 123.052 million** at the beginning of the year to **RMB 111.016 million**, primarily due to loss for the period and a reduction in translation reserve 简明综合权益变动表关键数据 | Equity Item | 2025年1月1日 (RMB'000) | Loss for the period (RMB'000) | Other comprehensive expense (RMB'000) | 2025年6月30日 (RMB'000) | | :--- | :--- | :--- | :--- | :--- | | Share capital | 26,305 | – | – | 26,305 | | Share premium | 33,998 | – | – | 33,998 | | General reserve | 1,892 | – | – | 1,892 | | Translation reserve | (5,399) | – | (920) | (6,319) | | Share option reserve | 2,814 | – | – | 2,814 | | Convertible bond reserve | 9,820 | – | – | 9,820 | | Other reserve | (31,012) | – | – | (31,012) | | Accumulated losses | 88,851 | (11,116) | – | 77,735 | | Total equity attributable to equity holders of the Company | 127,269 | (11,116) | (920) | 115,233 | | Non-controlling interests | (4,217) | – | – | (4,217) | | **Total Equity** | **123,052** | **(11,116)** | **(920)** | **111,016** | Notes to the Condensed Consolidated Financial Statements This section provides detailed explanations and breakdowns for various financial statement items, including accounting policies, revenue, expenses, and balance sheet components [5.1 Basis of presentation of financial statements](index=14&type=section&id=1.%20Basis%20of%20presentation%20of%20financial%20statements) Financial statements are prepared under Hong Kong GAAP and HKICPA standards, presented on a historical cost basis, reviewed by the Audit Committee, with the group primarily operating in China and business activities denominated in RMB - Preparation Basis: Hong Kong Generally Accepted Accounting Principles and accounting standards issued by the Hong Kong Institute of Certified Public Accountants[29](index=29&type=chunk)[32](index=32&type=chunk) - Review Status: Unaudited by the Company's auditor, but reviewed by the Company's Audit Committee[30](index=30&type=chunk)[32](index=32&type=chunk) - Operating Region and Currency: Primarily operates in China, with business activities mainly conducted in RMB, and results prepared in RMB[31](index=31&type=chunk)[32](index=32&type=chunk) [5.2 Application of New and Revised Hong Kong Financial Reporting Standards ("HKFRSs")](index=15&type=section&id=2.%20Application%20of%20New%20and%20Revised%20Hong%20Kong%20Financial%20Reporting%20Standards%20(%22HKFRSs%22)) The group has applied new and revised HKFRSs effective this period, with no material impact on current or prior financial performance, and is assessing the impact of standards issued but not yet effective - Standards Applied: New and revised HKFRSs effective for the current period have been applied[33](index=33&type=chunk)[37](index=37&type=chunk) - Impact: No **material impact** on the Group's current or prior period financial performance and position[33](index=33&type=chunk)[37](index=37&type=chunk) - Future Standards: The HKICPA has issued several amendments, new standards, and interpretations not yet effective, and the Group is assessing their impact[34](index=34&type=chunk)[35](index=35&type=chunk)[37](index=37&type=chunk) [5.3 Revenue and segment information](index=15&type=section&id=3.%20Revenue%20and%20segment%20information) The company is an investment holding company, with subsidiaries primarily engaged in liquefied CBM production and sales (including processing services) and pipeline natural gas sales; total revenue decreased by **52.1%** year-on-year in H1 2025 due to a significant drop in liquefied CBM sales, despite growth in pipeline natural gas sales - Principal Business: Production and sales of liquefied coalbed methane (including CBM liquefaction processing services) and sales of pipeline natural gas[36](index=36&type=chunk)[38](index=38&type=chunk) 收益构成 (截至6月30日止半年) | Revenue Category | 2025年 (RMB'000) | 2024年 (RMB'000) | | :--- | :--- | :--- | | Liquefied CBM sales (including processing services) | 37,228 | 108,150 | | Pipeline natural gas sales | 20,292 | 11,907 | | **Total Revenue** | **57,520** | **120,057** | 其他收入及收益或亏损 (截至6月30日止半年) | Category | 2025年 (RMB'000) | 2024年 (RMB'000) | | :--- | :--- | :--- | | Interest income from bank deposits | 31 | 8 | | Others | 1,015 | 77 | | **Total** | **1,046** | **85** | - The Group's revenue and assets primarily derive from and relate to the liquefied CBM business in China, with other segments being **immaterial**, thus no geographical segment information is presented[40](index=40&type=chunk) [5.4 Loss before taxation](index=17&type=section&id=4.%20Loss%20before%20taxation) For the six months ended June 30, 2025, the group's loss before taxation was **RMB 12.226 million**, significantly widening from **RMB 2.329 million** in the prior year, primarily due to increased staff costs and reduced depreciation 除税前亏损构成 (截至6月30日止半年) | Item | 2025年 (RMB'000) | 2024年 (RMB'000) | | :--- | :--- | :--- | | Staff costs (including directors' emoluments) | 12,981 | 10,819 | | Depreciation of property, plant and equipment | 7,077 | 14,543 | [5.5 Income tax](index=18&type=section&id=5.%20Income%20tax) The group incurred no assessable income in Hong Kong, thus no Hong Kong profits tax provision was made; PRC subsidiaries are subject to a **25%** corporate income tax rate, and there are no significant unprovided deferred taxes for the period - Hong Kong Profits Tax: No provision was made as the Group earned no assessable income subject to Hong Kong profits tax during the interim period[44](index=44&type=chunk)[47](index=47&type=chunk) - Overseas Income Tax: PRC subsidiaries are subject to a tax rate of **25%** since January 1, 2008[45](index=45&type=chunk)[48](index=48&type=chunk) - Deferred Tax: There were **no significant unprovided deferred taxes** during the interim period[46](index=46&type=chunk)[48](index=48&type=chunk) [5.6 Dividends](index=19&type=section&id=6.%20Dividends) The Board does not recommend paying any interim dividend for the six months ended June 30, 2025, consistent with the prior year - Interim Dividend: The Board does not recommend the payment of any interim dividend (2024 corresponding period: nil)[50](index=50&type=chunk)[51](index=51&type=chunk) [5.7 Loss per share](index=19&type=section&id=7.%20Loss%20per%20share) For the six months ended June 30, 2025, basic loss per share was **RMB 2.85 cents**, widening from **RMB 1.05 cents** in the prior year, with no diluted loss per share presented due to the absence of potential dilutive ordinary shares 每股亏损计算 (截至6月30日止半年) | Indicator | 2025年 | 2024年 | | :--- | :--- | :--- | | Loss attributable to equity holders of the Company (RMB'000) | (11,116) | (4,113) | | Weighted average number of ordinary shares for basic loss per share calculation ('000 shares) | 390,451 | 390,451 | | Basic loss per share (RMB cents) | (2.85) | (1.05) | - No diluted loss per share is presented as there were **no potential dilutive ordinary shares** for the quarters and six-month periods ended June 30, 2025, and June 30, 2024[54](index=54&type=chunk) [5.8 Additions and disposals of property, plant and equipment](index=20&type=section&id=8.%20Additions%20and%20disposals%20of%20property,%20plant%20and%20equipment) For the six months ended June 30, 2025, the group added approximately **RMB 23.045 million** in property, plant, and equipment, a significant increase from the prior year, with no material disposals during the period - Additions: Property, plant and equipment acquired during the interim period amounted to approximately **RMB 23.045 million** (2024 corresponding period: approximately **RMB 1.419 million**)[55](index=55&type=chunk)[57](index=57&type=chunk) - Disposals: There were **no major disposals** during the interim period (2024 corresponding period: nil)[55](index=55&type=chunk)[57](index=57&type=chunk) [5.9 Trade and other receivables](index=20&type=section&id=9.%20Trade%20and%20other%20receivables) As of June 30, 2025, the group's total trade and other receivables were **RMB 34.170 million**, an increase from **RMB 28.590 million** at year-end 2024, with a significant rise in trade receivables within one month 贸易及其他应收款项构成 | Item | 2025年6月30日 (RMB'000) | 2024年12月31日 (RMB'000) | | :--- | :--- | :--- | | Trade receivables | 4,180 | 828 | | Prepayments and other receivables | 26,365 | 23,298 | | Other recoverable taxes | 3,625 | 4,464 | | **Total** | **34,170** | **28,590** | 应收账款账龄分析 (按发票日期) | Ageing | 2025年6月30日 (RMB'000) | 2024年12月31日 (RMB'000) | | :--- | :--- | :--- | | Within 1 month | 3,639 | 374 | | After 1 month but within 3 months | – | 90 | | After 3 months but within 6 months | 537 | 90 | | After 6 months but within 12 months | – | 270 | | After 12 months | 4 | 4 | | **Total** | **4,180** | **828** | - The Group does not require collateral for trade receivables and continuously performs customer credit assessments[58](index=58&type=chunk) [5.10 Trade and other payables](index=22&type=section&id=10.%20Trade%20and%20other%20payables) As of June 30, 2025, the group's total trade and other payables were **RMB 197.618 million**, an increase from **RMB 160.408 million** at year-end 2024, with a significant rise in trade payables due after 12 months 贸易及其他应付款项构成 | Item | 2025年6月30日 (RMB'000) | 2024年12月31日 (RMB'000) | | :--- | :--- | :--- | | Trade payables | 40,431 | 35,440 | | Accruals and other payables | 156,616 | 124,328 | | Other taxes payable | 571 | 640 | | **Total** | **197,618** | **160,408** | 应付账款账龄分析 (按发票日期) | Ageing | 2025年6月30日 (RMB'000) | 2024年12月31日 (RMB'000) | | :--- | :--- | :--- | | Within 1 month | 1,705 | 7,921 | | After 1 month but within 3 months | 5,781 | 26,041 | | After 3 months but within 6 months | 2,917 | 88 | | After 6 months but within 12 months | 415 | 173 | | After 12 months | 29,613 | 1,217 | | **Total** | **40,431** | **35,440** | [5.11 Bank and other borrowings](index=23&type=section&id=11.%20Bank%20and%20other%20borrowings) As of June 30, 2025, the group's total bank and other borrowings were **RMB 20.400 million**, a decrease from **RMB 23.400 million** at year-end 2024, with all borrowings repayable within one year or on demand, including secured bank loans and unsecured other loans 银行及其他借贷构成 | Type of Borrowing | 2025年6月30日 (RMB'000) | 2024年12月31日 (RMB'000) | | :--- | :--- | :--- | | Secured bank loans repayable within 1 year or on demand | 10,000 | 13,000 | | Unsecured other loans repayable within 1 year or on demand | 10,400 | 10,400 | | **Total** | **20,400** | **23,400** | - Secured bank loans bear interest at annual rates ranging from **3.1% to 3.45%**[67](index=67&type=chunk) - Unsecured other loans refer to loans payable to non-controlling shareholders of PRC subsidiaries, bearing a **fixed interest rate of 4.35% per annum**[67](index=67&type=chunk) [5.12 Share capital](index=24&type=section&id=12.%20%E8%82%A1%E6%9C%AC) As of June 30, 2025, the company's authorized share capital was **2,500,000 thousand shares** with a total par value of **RMB 174.064 million**; issued and fully paid share capital was **390,451 thousand shares** with a total par value of **RMB 26.305 million**, consistent with year-end 2024 股本信息 | Type of Share Capital | 2025年6月30日 股份数目 ('000) | 2025年6月30日 总面值 (RMB'000) | 2024年12月31日 股份数目 ('000) | 2024年12月31日 总面值 (RMB'000) | | :--- | :--- | :--- | :--- | :--- | | Authorized share capital | 2,500,000 | 174,064 | 2,500,000 | 174,064 | | Issued and fully paid share capital | 390,451 | 26,305 | 390,451 | 26,305 | [5.13 Commitments](index=24&type=section&id=13.%20Commitments) As of June 30, 2025, the group's capital commitments contracted but not provided for in the financial statements amounted to **RMB 8.806 million**, primarily for property, plant, and equipment acquisitions and construction in progress, a decrease from year-end 2024 资本承擔 | Item | 2025年6月30日 (RMB'000) | 2024年12月31日 (RMB'000) | | :--- | :--- | :--- | | Capital commitments contracted but not provided for in the financial statements | 8,806 | 15,636 | Management Discussion and Analysis This section offers a comprehensive review of the group's financial performance, business operations, development prospects, and key operational aspects for the interim period [6.1 Financial Review](index=25&type=section&id=FINANCIAL%20REVIEW) For the six months ended June 30, 2025, consolidated turnover decreased by **52.1%** to **RMB 57.5 million**, and loss attributable to shareholders expanded to **RMB 11.1 million**, primarily due to suspended liquefied CBM production for equipment upgrades and increased administrative expenses from Board expansion and new subsidiary R&D costs 财务业绩概览 (截至6月30日止半年) | Indicator | 2025年 (RMB'000) | 2024年 (RMB'000) | 同比变化 | | :--- | :--- | :--- | :--- | | Consolidated turnover | 57,500 | 120,100 | -52.1% | | Loss attributable to shareholders | (11,100) | (4,100) | 170.7% (Loss widened) | - The decrease in revenue was primarily due to a subsidiary suspending liquefied CBM production in May 2025 for a comprehensive technical modification and upgrade of its liquefaction machinery and equipment[73](index=73&type=chunk) - Administrative expenses increased from **RMB 14.6 million** to **RMB 19.1 million**, mainly driven by the expansion of the Board (adding three new directors, increasing directors' emoluments by approximately **RMB 2.0 million**) and R&D costs of a newly established wholly-owned subsidiary[74](index=74&type=chunk)[75](index=75&type=chunk)[76](index=76&type=chunk)[78](index=78&type=chunk) [6.2 Business Review and Development Prospects](index=26&type=section&id=BUSINESS%20REVIEW%20AND%20DEVELOPMENT%20PROSPECTS) The group primarily engages in CBM business, including exploration, extraction, liquefaction, and sales; CBM reserve assessments were updated, and gas wellheads increased, but liquefaction operations paused for equipment upgrades, while market sales faced downward price trends due to the overall economic environment, and the group is actively developing new hydrocarbon-to-natural gas and thermal recovery technologies to boost production and profit growth - Core Business: CBM exploration, extraction, liquefaction, and sales[77](index=77&type=chunk)[79](index=79&type=chunk) - R&D Investment: The Group is independently developing "Ultra-High Temperature Steam Catalyzed Coal Mineral Accelerated Metamorphic Hydrocarbon Generation Technology" (hydrocarbon-to-natural gas project) and "Thermal Recovery Technology" to increase production and create new profit growth points[106](index=106&type=chunk)[108](index=108&type=chunk)[109](index=109&type=chunk)[110](index=110&type=chunk) [6.2.1 Resources and reserves](index=26&type=section&id=Resources%20and%20reserves) Updated CBM reserve assessments show an Original Gas-in-Place of **193.6 BCF** across all blocks, with Proved Net Reserves significantly increasing to **108.9 BCF**, reflecting continuous field development and data accumulation - CBM Asset Location: Yangcheng area, Shanxi Province, China, covering approximately **96 square kilometers**[77](index=77&type=chunk)[79](index=79&type=chunk) 煤层气资产储量评估 (十亿立方英呎 BCF) | Reserve Type | 2025年6月30日 | 2012年3月31日 | | :--- | :--- | :--- | | Original Gas-in-Place (OGIP) for all blocks | 193.6 | 272.4 | | Proved (1P) Net Reserves | 108.9 | 3.5 | | Proved plus Probable (2P) Net Reserves | 154.7 | 27.7 | | Proved plus Probable plus Possible (3P) Net Reserves | 193.6 | 205.0 | - The improvement in reserve assessment is attributed to the Company's continuous development of gas field blocks, increasing the number and scope of producing wellheads, thereby collecting more data for more accurate evaluations[84](index=84&type=chunk)[86](index=86&type=chunk) [6.2.2 Natural gas exploration and extraction](index=29&type=section&id=Natural%20gas%20exploration%20and%20extraction) The group has completed surface construction and drilling for **235 CBM wells**, with **170** of them in stable production since commissioning - Number of CBM Wells: **235 CBM wells** have completed surface construction and drilling[88](index=88&type=chunk)[90](index=90&type=chunk) - Number of Producing Wells: **170 wells** have commenced production and maintained stable output since commissioning[88](index=88&type=chunk)[90](index=90&type=chunk) [6.2.3 Liquefaction operation](index=29&type=section&id=Liquefaction%20operation) Shuntai Company suspended liquefied CBM production on May 18, 2025, for comprehensive technical modification and upgrade, with average daily production previously around **162,000 cubic meters** - Production Suspension: Shuntai Company suspended liquefied CBM production on **May 18, 2025**[89](index=89&type=chunk)[91](index=91&type=chunk) - Reason: Severe wear and tear of liquefaction machinery and equipment made maintenance uneconomical, leading to a decision for comprehensive technical modification and upgrade[89](index=89&type=chunk)[91](index=91&type=chunk) - Production Before Modification: Average daily production in Q1 2025 was approximately **162,000 cubic meters**[89](index=89&type=chunk)[91](index=91&type=chunk) [6.2.4 Marketing and sales](index=30&type=section&id=Marketing%20and%20sales) The group's sales system and strategy remain largely consistent, but sales performance was impacted by a **downward trend in prices** due to the overall economic environment - Sales System and Strategy: Largely consistent, with **no significant changes**[92](index=92&type=chunk)[94](index=94&type=chunk) - Market Impact: Sales prices showed a **downward trend** due to the overall economic environment, affecting sales performance[92](index=92&type=chunk)[94](index=94&type=chunk) [6.2.5 Liquidity, Financial Resources and Capital Structure](index=30&type=section&id=Liquidity,%20Financial%20Resources%20and%20Capital%20Structure) As of June 30, 2025, the group's net assets were **RMB 111.016 million**, cash and bank balances were **RMB 47.456 million**, and the capital to debt ratio was **17.70%**, with plans to seek financing to accelerate natural gas drilling projects 流动资金及资本结构 (截至6月30日) | Indicator | 2025年 (RMB'000) | | :--- | :--- | | Net assets | 111,016 | | Cash and bank balances | 47,456 | | Capital to debt ratio | 17.70% | - The Group adopts a **prudent financial and risk management strategy**, avoiding financing arrangements with high leverage ratios[93](index=93&type=chunk)[95](index=95&type=chunk) - The Group will seek financing to further improve its cash position and accelerate natural gas drilling projects[96](index=96&type=chunk)[98](index=98&type=chunk) - Apart from planned investments in upstream CBM exploration and extraction, the Group has **no other plans** for acquisitions, investments, disposals, or scaling down any current business operations[96](index=96&type=chunk)[98](index=98&type=chunk) [6.2.6 Employees](index=32&type=section&id=Employees) The group has **236 employees**, comprising R&D, engineering, customer service, administrative, and marketing personnel, with staff costs of **RMB 12.981 million**, and remuneration policies based on individual performance and professional training - Total Employees: **236**[100](index=100&type=chunk)[103](index=103&type=chunk) - Employee Composition: **23 R&D personnel**, **122 engineering and customer service personnel**, **86 administrative personnel**, and **5 marketing and sales personnel**[100](index=100&type=chunk)[103](index=103&type=chunk) 员工成本 (截至6月30日止半年) | Indicator | 2025年 (RMB'000) | 2024年 (RMB'000) | | :--- | :--- | :--- | | Staff costs (including directors' emoluments) | 12,981 | 10,819 | - Remuneration and bonus policies are primarily determined by individual employee performance, with continuous professional development and training opportunities provided[100](index=100&type=chunk)[103](index=103&type=chunk) [6.2.7 Risk in Foreign Exchange](index=32&type=section&id=Risk%20in%20Foreign%20Exchange) The Board considers the group's foreign exchange risk **not significant**, as most transactions are denominated in the respective functional currencies of individual group entities - Foreign Exchange Risk Assessment: The Directors believe the Group's foreign exchange risk is **not significant**[101](index=101&type=chunk)[104](index=104&type=chunk) - Reason: Most transactions are denominated in the respective functional currencies of individual group entities[101](index=101&type=chunk)[104](index=104&type=chunk) [6.2.8 Significant investment, material acquisitions and disposal of subsidiaries](index=32&type=section&id=Significant%20investment,%20material%20acquisitions%20and%20disposal%20of%20subsidiaries) During the interim period, the group made **no significant investments**, material acquisitions, or disposals of subsidiaries and associates - No Significant Investments/Acquisitions/Disposals: There were **no significant investments**, material acquisitions, or disposals of subsidiaries and associates during the interim period[102](index=102&type=chunk)[105](index=105&type=chunk) [6.2.9 Outlook](index=33&type=section&id=Outlook) The group is actively developing hydrocarbon-to-natural gas and thermal recovery technologies to boost production, create new profit growth points, and ensure stable gas supply for LNG plants, anticipating continued strong growth in clean energy market demand - Hydrocarbon-to-Natural Gas Technology ("the Technology") R&D Progress: R&D began in **2016**, entering the industrial scale-up design phase in H2 **2019**. Progress was slow due to the pandemic, with the first trial run in **June 2021** and improved design proposed in **November 2021**. A small-scale pilot plant was completed in **June 2024**, but domestic heat-resistant steel could not sustain stable operation at **1,100°C** for extended periods. In **January 2025**, R&D shifted to lowering reaction temperatures, now largely achieving a **1,000°C** reaction environment, with a small-scale pilot plant still under construction. Future Plans: Upon completion, advanced demonstrations will be conducted overseas with international expert review; once mature, it will supply feedstock gas to LNG projects, charging technology usage fees and selling related raw materials[106](index=106&type=chunk)[107](index=107&type=chunk) - Thermal Recovery Technology Discovery and Outlook: Discovered during the R&D of "the Technology," aiming to accelerate metamorphic hydrocarbon generation, increase reserves, and boost production from underground coal minerals in CBM fields. Currently in the preparatory stage, upon maturity, it will be applied to increase upstream wellhead production and provide thermal recovery technical services and related equipment sales[108](index=108&type=chunk)[110](index=110&type=chunk) - Strategic Significance: Both technologies are expected to become **new profit growth points** for the Group, ensuring a **stable gas source supply** for LNG plants, reducing external influences and operational risks, and achieving full production commercial value[109](index=109&type=chunk)[110](index=110&type=chunk) - Market Outlook: With increasing environmental concerns, highly polluting energy sources will be phased out faster, clean energy will become widespread, and natural gas market demand is expected to maintain **strong growth momentum**[111](index=111&type=chunk)[113](index=113&type=chunk) Disclosure of Shareholders' and Directors' Interests This section details the interests and short positions of the company's directors, chief executive, and substantial shareholders in the company's shares and underlying shares [7.1 Directors' and Chief Executive's Interests or Short Positions in Shares, Underlying Shares and Debentures](index=35&type=section&id=DIRECTORS'%20AND%20CHIEF%20EXECUTIVE'S%20INTERESTS%20OR%20SHORT%20POSITIONS%20IN%20SHARES,%20UNDERLYING%20SHARES%20AND%20DEBENTURES) As of June 30, 2025, several directors held long positions in the company's shares, with Chairman **Mr. Wang Zhong Sheng** holding **74.51%** through controlled corporations and as a beneficial owner 董事及最高行政人员于本公司股份之好仓 (截至2025年6月30日) | Name | Capacity | Nature of Interest | Number of Shares/Underlying Shares | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | :--- | | Mr. Wang Zhong Sheng | Interest in controlled corporation | Corporate interest | 2,264,812 | 0.58% | | | Beneficial owner | Personal | 288,661,440 | 73.93% | | Mr. Chang Jian | Beneficial owner | Personal | 2,500,000 | 0.64% | | Mr. Wang Chen | Beneficial owner | Personal | 250,000 | 0.06% | | Mr. Liang Zhi Hao | Share option grantee | Personal | 800,000 | 0.2% | | Ms. Li Si Liang | Beneficial owner | Personal | 487,500 | 0.12% | - Save as disclosed above, as at June 30, 2025, no Director or chief executive had any other disclosable interests or short positions in the shares, underlying shares or debentures of the Company or any of its associated corporations[121](index=121&type=chunk)[122](index=122&type=chunk) - The Group did not issue any debentures during the interim period[121](index=121&type=chunk)[122](index=122&type=chunk) [7.2 Substantial Shareholders and Persons with Disclosable Interest and Short Position in Shares and Options under SFO](index=40&type=section&id=SUBSTANTIAL%20SHAREHOLDERS%20AND%20PERSONS%20WITH%20DISCLOSEABLE%20INTEREST%20AND%20SHORT%20POSITION%20IN%20SHARES%20AND%20OPTIONS%20UNDER%20SFO) As of June 30, 2025, apart from directors, **Ms. Zhao Xin** (spouse of Mr. Wang Zhong Sheng) was deemed to have an interest in her spouse's shares, representing approximately **74.51%** of the company's shareholding 主要股东于本公司股份之好仓 (截至2025年6月30日) | Name | Number of Shares | Nature of Interest | Approximate Percentage of Shareholding | | :--- | :--- | :--- | :--- | | Ms. Zhao Xin | 290,926,252 | Interest of spouse | 74.51% | - **Ms. Zhao Xin** (spouse of Mr. Wang Zhong Sheng) is deemed under the Securities and Futures Ordinance to have an interest in the Company by virtue of her spouse's interests[125](index=125&type=chunk) - Save as disclosed above, no other person had any disclosable interests or short positions in the shares and underlying shares of the Company[125](index=125&type=chunk) [7.3 Directors' and Chief Executive's Rights to Acquire Shares or Debentures](index=41&type=section&id=DIRECTORS'%20AND%20CHIEF%20EXECUTIVE'S%20RIGHTS%20TO%20ACQUIRE%20SHARES%20OR%20DEBENTURES) Apart from disclosed directors' share interests and share option schemes, no rights to acquire company shares or debentures were granted or exercised by any director, their spouse/minor children, or chief executive during the interim period, nor did the company or its subsidiaries enter into any arrangements for directors to acquire such rights in other corporations - No Additional Acquisition Rights: During the interim period, no rights to acquire shares or debentures of the Company were granted to or exercised by any Director, their spouse/minor children, or chief executive[126](index=126&type=chunk)[128](index=128&type=chunk) - No Related Arrangements: Neither the Company nor any of its subsidiaries entered into any arrangements enabling Directors to acquire such rights in any other body corporate[126](index=126&type=chunk)[128](index=128&type=chunk) [7.4 Directors' and Controlling Shareholders' Interests in Competing Business](index=41&type=section&id=DIRECTORS'%20AND%20CONTROLLING%20SHAREHOLDERS'%20INTERESTS%20IN%20COMPETING%20BUSINESS) As of the report date, the Directors are unaware of any business or interests held by directors, controlling shareholders, or their close associates that compete or may compete with the group's business, nor any other conflicts of interest - No Competing Business: The Directors are unaware of any business or interests held by directors, controlling shareholders, or their close associates that compete or may compete with the Group's business[127](index=127&type=chunk)[129](index=129&type=chunk) - No Conflicts of Interest: Nor are they aware of any other conflicts of interest existing or potentially existing between any such persons and the Group[127](index=127&type=chunk)[129](index=129&type=chunk) Share Option Scheme This section outlines the company's previous and new share option schemes, including their terms, eligible participants, and the status of granted and outstanding options [8.1 Previous Share Option Scheme](index=42&type=section&id=%E5%85%88%E5%89%8D%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The company's previous share option scheme, adopted on May 18, 2011, expired on May 18, 2021; all **32,119,074** options granted under it were unexercised and lapsed, with no outstanding options currently - Scheme Term: The previous share option scheme expired on **May 18, 2021**[130](index=130&type=chunk)[132](index=132&type=chunk) - Share Option Status: All **32,119,074** share options granted were unexercised and lapsed, with **no outstanding share options**[130](index=130&type=chunk)[132](index=132&type=chunk) [8.2 New Share Option Scheme](index=42&type=section&id=%E6%96%B0%E8%B3%BC%E8%82%A1%E6%AC%8A%E8%A8%88%E5%8A%83) The company adopted a new share option scheme on March 28, 2022, valid for **10 years**, to incentivize eligible participants; as of June 30, 2025, **zero** options are available for grant, and **10,865,003** options remain outstanding at an exercise price of **HK$0.455** - Adoption Date and Validity: Adopted on **March 28, 2022**, valid for **10 years**, expiring on **March 27, 2032**[131](index=131&type=chunk)[132](index=132&type=chunk)[134](index=134&type=chunk)[136](index=136&type=chunk) - Purpose: To grant share options to selected eligible participants as an incentive or reward for their contributions or potential contributions[133](index=133&type=chunk)[135](index=135&type=chunk) - Eligible Participants: Include full-time/part-time employees, consultants/advisers, and directors of any group member company[133](index=133&type=chunk)[135](index=135&type=chunk) - Scheme Limit: As of June 30, 2025, the number of share options authorized for grant under the scheme was **zero shares**[134](index=134&type=chunk)[136](index=136&type=chunk) 新购股权计划下已授出购股权信息 (截至2025年6月30日) | Category of Participants | Outstanding at January 1, 2025 | Granted during the period | Exercised during the period | Lapsed during the period | Outstanding at June 30, 2025 | Date of Grant | Exercise Period | Exercise Price per Share at Date of Grant (HK$) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Executive Director (Mr. Liang Zhi Hao) | 800,000 | – | – | – | 800,000 | 2022/10/13 | 2022/10/13–2032/10/12 | 0.456 | | Employees | 8,190,003 | – | – | – | 8,190,003 | 2022/10/13 | 2022/10/13–2032/10/12 | 0.456 | | Corporate Finance Adviser | 1,875,000 | – | – | – | 1,875,000 | 2022/4/7 | 2022/4/7–2032/4/6 | 0.448 | | **Total** | **10,865,003** | **–** | **–** | **–** | **10,865,003** | | | | - Share options may be exercised in full or in part at any time during the period determined by the Directors and notified to the grantee, but not exceeding **ten years** from the date of grant[138](index=138&type=chunk)[140](index=140&type=chunk) - The subscription price shall not be less than the highest of the closing price on the Stock Exchange on the offer date, the average closing price for the five consecutive business days immediately preceding the offer date, and the nominal value of the share[141](index=141&type=chunk)[142](index=142&type=chunk) Other Financial and Operating Information This section covers additional financial and operational details such as contingent liabilities, capital commitments, asset charges, and events after the balance sheet date [9.1 Contingent Liabilities](index=48&type=section&id=CONTINGENT%20LIABILITIES) As of June 30, 2025, the group had **no significant contingent liabilities** - No Significant Contingent Liabilities: As of June 30, 2025, the Group had **no significant contingent liabilities**[151](index=151&type=chunk)[155](index=155&type=chunk) [9.2 Amount of Capitalised Interest](index=48&type=section&id=AMOUNT%20OF%20CAPITALISED%20INTEREST) Save as disclosed in this report, the group did **not capitalize any interest** during the interim period - No Capitalized Interest: Save as disclosed in this report, the Group did **not capitalize any interest** during the interim period[152](index=152&type=chunk)[156](index=156&type=chunk) [9.3 Future Plans for Material Investments or Capital Assets](index=48&type=section&id=FUTURE%20PLANS%20FOR%20MATERIAL%20INVESTMENTS%20OR%20CAPITAL%20ASSETS) As of June 30, 2025, and December 31, 2024, the group had **no other plans** regarding material investments and capital assets - No Other Material Plans: As of June 30, 2025, and December 31, 2024, the Group had **no other plans** regarding material investments and capital assets[153](index=153&type=chunk)[157](index=157&type=chunk) [9.4 Charges on Group Assets](index=48&type=section&id=CHARGES%20ON%20GROUP%20ASSETS) As of June 30, 2025, the group's self-occupied buildings with a carrying value of approximately **RMB 8.847 million** and leasehold land use rights of **RMB 7.797 million** were pledged as security for bank borrowings - Charged Assets: Self-occupied buildings with a carrying value of approximately **RMB 8.847 million** (before impairment) and leasehold land use rights of **RMB 7.797 million**[154](index=154&type=chunk)[158](index=158&type=chunk) - Purpose: Pledged as security for bank borrowings granted to the Group[154](index=154&type=chunk)[158](index=158&type=chunk) [9.5 Events After Balance Sheet Date](index=49&type=section&id=EVENTS%20AFTER%20BALANCE%20SHEET%20DATE) As of the report date, the Board is unaware of any **significant disclosable events** after the balance sheet date - No Significant Events After Balance Sheet Date: As of the report date, the Board is unaware of any **significant events** that have occurred and require disclosure[159](index=159&type=chunk)[164](index=164&type=chunk) [9.6 Convertible Securities, Warrants or Similar Rights](index=49&type=section&id=CONVERTIBLE%20SECURITIES,%20WARRANTS%20OR%20SIMILAR%20RIGHTS) As of June 30, 2025, there were **10,865,003 outstanding share options** under the company's share option scheme adopted on March 28, 2022, entitling holders to subscribe for shares - Outstanding Share Options: As of June 30, 2025, there were **10,865,003 outstanding share options** entitling holders to subscribe for shares[160](index=160&type=chunk)[164](index=164&type=chunk) - Source: Under the share option scheme adopted on **March 28, 2022**[160](index=160&type=chunk)[164](index=164&type=chunk) [9.7 Pre-emptive Rights](index=49&type=section&id=PRE-EMPTIVE%20RIGHTS) Neither the company's bye-laws nor Bermuda law contains provisions for pre-emptive rights requiring the company to offer new shares proportionally to existing shareholders - No Pre-emptive Rights: Neither the company's bye-laws nor Bermuda law contains provisions for pre-emptive rights[161](index=161&type=chunk)[165](index=165&type=chunk) [9.8 Purchase, Sale or Redemption of the Company's Listed Securities](index=49&type=section&id=PURCHASE,%20SALE%20OR%20REDEMPTION%20OF%20THE%20COMPANY'S%20LISTED%20SECURITIES) During the interim period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any listed securities - No Securities Transactions: During the interim period, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's or its subsidiaries' listed securities[162](index=162&type=chunk)[166](index=166&type=chunk) Corporate Governance This section describes the company's corporate governance practices, including compliance with the GEM Listing Rules, the role of the Audit Committee, and any deviations from the Corporate Governance Code [10.1 Disclosure on Changes of Information of Directors](index=50&type=section&id=DISCLOSURE%20ON%20CHANGES%20OF%20INFORMATION%20OF%20DIRECTORS) In accordance with GEM Listing Rules, there were **no changes** in directors' positions or updated information during the interim period since the release of the 2024 annual report - No Changes in Directors' Information: Since the release of the 2024 annual report, there have been **no changes** in directors' positions or updated information during the interim period[168](index=168&type=chunk)[172](index=172&type=chunk) [10.2 Audit Committee](index=50&type=section&id=AUDIT%20COMMITTEE) The Audit Committee, comprising three independent non-executive directors chaired by **Mr. Liu Zhen Bang**, reviews and monitors financial reporting principles, internal control procedures, and group results, having met twice this interim period to review unaudited consolidated results and confirm adequate staffing for accounting, finance, and internal control - Composition: Composed of **three independent non-executive directors**, including Mr. Wang Zhi He, Mr. Xu Yuan Jian, and Mr. Liu Zhen Bang (Chairman)[170](index=170&type=chunk)[173](index=173&type=chunk) - Responsibilities: To review and monitor financial reporting principles and practices, internal control procedures and matters, and to review the Group's quarterly, interim, and annual results[169](index=169&type=chunk)[173](index=173&type=chunk) - Meetings and Review: Two meetings were held during the interim period, and the unaudited consolidated results were reviewed[170](index=170&type=chunk)[173](index=173&type=chunk) - Staff Adequacy: The Audit Committee believes the Group has employed **sufficient staff** to handle accounting, financial, and internal control work[171](index=171&type=chunk)[173](index=173&type=chunk) [10.3 Compliance with Corporate Governance Code](index=51&type=section&id=CORPORATE%20GOVERNANCE) The group largely complied with the GEM Listing Rules' Corporate Governance Code during the interim period, with two deviations: non-executive directors lack fixed terms (but retire by rotation) and the Chairman and CEO roles are combined in **Mr. Wang Zhong Sheng**; the Board believes the current structure promotes efficient operations and will consider appointing an independent CEO, while all independent non-executive directors confirmed their independence and no non-compliance with the adopted code for directors' securities transactions was found - Compliance Status: Save as disclosed below, the Group has **complied with the Corporate Governance Code**[174](index=174&type=chunk)[177](index=177&type=chunk) - Deviation from Code Provision A.4.1: Non-executive directors do not have fixed terms but are subject to retirement by rotation at annual general meetings; the Board believes this arrangement provides **flexibility**[175](index=175&type=chunk)[177](index=177&type=chunk) - Deviation from Code Provision A.2.1: The Chairman (**Mr. Wang Zhong Sheng**) also oversees the Group's daily operations, and the Company has no "Chief Executive Officer" position; the Board believes this structure facilitates **strong and consistent leadership** and will continue to consider the feasibility of appointing an independent Chief Executive Officer[176](index=176&type=chunk)[177](index=177&type=chunk)[178](index=178&type=chunk)[179](index=179&type=chunk)[181](index=181&type=chunk)[182](index=182&type=chunk) - Code of Conduct for Securities Transactions by Directors: The Company has adopted the relevant code, and **no non-compliance** was noted during the interim period[180](index=180&type=chunk)[182](index=182&type=chunk) - Independent Directors: All independent non-executive directors have confirmed their independence, and the Company considers them to be **fully independent**[183](index=183&type=chunk)[184](index=184&type=chunk)

Group 1 - The core viewpoint of the article highlights the current state and future projections of China's coalbed methane industry, indicating a slight decline in production alongside overall growth in cumulative output [1][3]. Group 2 - As per the National Bureau of Statistics, China's coalbed methane production in June 2025 is projected to be 1.58 billion cubic meters, reflecting a year-on-year decrease of 3.7% [1]. - In the first half of 2025, the cumulative production of coalbed methane in China reached 8.94 billion cubic meters, showing a cumulative growth of 7.7% [1]. Group 3 - Listed companies in the coalbed methane sector include Blue Flame Holdings (000968), Guo Xin Energy (600617), Tianhao Energy (300332), Xinjin Power (300157), Zhun Oil Co., Ltd. (002207), Shanxi Natural Gas (002267), Shanxi Coking (600740), Huayang Co., Ltd. (600348), and China Petroleum (601857) [1]. - The report titled "2025-2031 China Coalbed Methane Industry Market Supply and Demand Scale and Future Prospects Analysis Report" by Zhiyan Consulting provides insights into the market dynamics [1].

中 國 煤 層 氣 集 團 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 宣 佈， 董 事 會 會 議 將 於 二 零 二 五 年 八 月 二 十 一 日（星 期 四）下 午 二 時 正 假 座 中 國 山 西 省 晉 城 市 沁 水 縣 嘉 峰 鎮 李 莊 村 主 體 大 樓 會 議 室 舉 行，以 便： 承董事會命 中國煤層氣集團有限公司 主 席 王忠勝 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） 董事會會議通告 香 港，二 零 二 五 年 八 月 十 一 日 – 1 – 1. 省覽及批准本公司及其附屬公司截至二零二五年六月三十日止六 ...

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 致：香港交易及結算所有限公司 公司名稱: 中國煤層氣集團有限公司 呈交日期: 2025年8月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 08270 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 2,500,000,000 | HKD | | 0.08 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 2,500,000,000 | HKD | | 0.08 | HKD | | 200,000,000 | 本月底法定/註 ...

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].

Financial Performance - The Group's revenue for the six months ended June 30, 2024, was approximately RMB120,057,000, representing an increase of approximately 18.3% compared to the corresponding period in the previous financial year[9]. - Revenue for the first half of 2024 reached RMB 120,057,000, an increase of 18.4% compared to RMB 101,486,000 in the same period of 2023[11]. - Gross profit for the period was RMB 14,695,000, slightly down from RMB 15,398,000 in 2023, indicating a gross margin decrease[11]. - Loss for the period improved to RMB 4,113,000 from RMB 7,799,000 in the previous year, reflecting a reduction of 47.3%[12]. - Total comprehensive loss for the period was RMB 4,831,000, compared to a comprehensive income of RMB 2,147,000 in 2023[12]. - The loss attributable to equity shareholders for the half year was RMB (4,113,000), an improvement from RMB (7,643,000) in the same period of 2023[31]. - Basic loss per share improved to RMB 1.05 from RMB 2.21 in the same period of 2023, reflecting better performance[11]. Dividends and Shareholder Returns - The Board does not recommend the payment of any dividend for the Interim Period[9]. - No interim dividend was recommended for the Interim Period, following no dividend declared in the same period of 2023[29]. - The Company’s share capital remained unchanged at RMB 26,305,000 as of June 30, 2024[17]. Assets and Liabilities - Total assets increased to RMB 354,584,000 as of June 30, 2024, up from RMB 338,338,000 at the end of 2023, representing a growth of 4.1%[13]. - Net current liabilities stood at RMB 88,800,000, slightly higher than RMB 84,435,000 at the end of 2023[14]. - Cash and bank balances at June 30, 2024, were RMB 58,057,000, up from RMB 45,444,000 at the beginning of the year, marking an increase of 27.8%[16]. - The balance of accumulated losses increased to RMB 31,002,000 as of June 30, 2024, compared to RMB 29,496,000 at the beginning of the year[17]. - The total amount of trade and other receivables as of June 30, 2024, was RMB 35,169,000, compared to RMB 29,447,000 as of December 31, 2023, showing an increase of approximately 19.5%[37]. - The total trade payables as of June 30, 2024, were RMB 21,175,000, up from RMB 3,761,000 as of December 31, 2023, reflecting an increase of approximately 463.5%[40]. Cash Flow and Financing - Cash inflow from operating activities was RMB 8,623,000, a significant turnaround from an outflow of RMB 5,529,000 in the same period last year[16]. - The Company reported finance costs of RMB 14,687,000, a decrease from RMB 22,178,000 in the previous year, indicating improved financial management[11]. - The Group's secured bank loans repayable within 1 year as of June 30, 2024, totaled RMB 10,000,000, while unsecured bank loans repayable within the same period amounted to RMB 3,000,000[42]. Operational Highlights - The Group operates primarily in the People's Republic of China, with business activities transacted in RMB[20]. - 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[60]. - 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[70]. - The Group is focused on upstream CBM exploration and extraction, with no current plans for acquisitions or scaling down existing operations[65]. Employee and Staff Costs - Staff costs decreased to RMB 10,819,000 from RMB 12,162,000, reflecting a reduction of 11.1%[24]. - The Group employs a total of 249 staff, including 20 in research and development, 130 in engineering and customer service, and 5 in marketing[67]. - Employee costs for the first half of 2024 amounted to approximately RMB 10,819,000, compared to RMB 12,162,000 for the same period in 2023[69]. Corporate Governance and Compliance - The audit committee held two meetings during the Interim Period to review the Group's unaudited consolidated results[95]. - The company has complied with the Corporate Governance Code provisions, except for the lack of a set term for independent non-executive directors[97]. - The Company has confirmed the independence of all its independent non-executive Directors as per Rule 5.09 of the GEM Listing Rules[100]. Future Outlook and Strategy - 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[73]. - The successful development of C-H to Synthesis of natural gas production is expected to provide a stable gas supply for the Group's LNG plants, enabling them to reach full production capacity[71]. - The management is committed to overcoming challenges to contribute to the Company's profitability and long-term development[73].

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].