Financial Performance - Jiaxing Gas Group Co., Ltd. reported a revenue of RMB 1.2 billion for the first half of 2022, representing a year-on-year increase of 15%[8] - The company achieved a net profit of RMB 300 million, which is a 10% increase compared to the same period last year[8] - The total revenue for the group during the period was RMB 1,304.5 million, an increase of 45.28% compared to RMB 897.9 million in the same period last year[42] - Revenue for the six months ended June 30, 2022, was RMB 1,304,538 thousand, representing a 45.4% increase from RMB 897,895 thousand in the same period of 2021[106] - Gross profit decreased to RMB 94,373 thousand, down 24.9% from RMB 125,631 thousand year-over-year[106] - Profit before tax for the period was RMB 45,481 thousand, a decline of 44.4% compared to RMB 81,711 thousand in 2021[106] - Total comprehensive income for the period was RMB 32,672 thousand, down 47.3% from RMB 61,713 thousand in the previous year[118] - The attributable profit to equity holders of the parent company was RMB 28.6 million, a decrease of 52.57% from RMB 60.3 million in the same period of 2021, mainly due to losses from residential gas price inversion and related subsidies expected to be implemented later this year[48] Revenue Sources - The cumulative revenue from pipeline natural gas sales was RMB 983.1 million, up 44.55% from RMB 680.1 million in the same period of 2021[33] - The cumulative revenue from liquefied natural gas sales was RMB 95.3 million, a growth of 75.83% compared to RMB 54.2 million in the same period of 2021[37] - The cumulative revenue from liquefied petroleum gas sales was RMB 76.0 million, an increase of 103.21% from RMB 37.4 million in the same period of 2021[38] - The cumulative revenue from steam sales was RMB 17.7 million, an increase of 36.15% from RMB 13.0 million in the same period of 2021[40] User Growth and Market Expansion - User data indicates that the total number of gas users increased by 20,000, reaching a total of 1.5 million users[8] - The company plans to expand its market presence by entering two new cities in Zhejiang province by the end of 2023[8] - The group provided gas services to approximately 418,000 residential users and 2,019 industrial and commercial users as of June 30, 2022[29] Investments and R&D - Research and development efforts are focused on enhancing liquefied natural gas (LNG) technology, with an investment of RMB 50 million allocated for this purpose[8] - The group’s LNG receiving terminal at Dushan Port commenced operations with an annual unloading capacity of 1 million tons, marking it as the only natural gas import facility in northern Zhejiang[31] - The group has invested approximately RMB 357.0 million in the joint venture Hangjiaxin, holding a 51% stake, with an investment carrying amount of about RMB 324.2 million, representing 15.66% of the group's total assets[57] Financial Position and Cash Flow - The interim report highlighted a strong cash flow position, with cash and cash equivalents amounting to RMB 400 million as of June 30, 2022[8] - As of June 30, 2022, the group's current assets amounted to RMB 678.8 million, an increase from RMB 589.4 million as of December 31, 2021, with cash and bank balances of RMB 369.3 million[49] - The net cash flow from operating activities for the first half of 2022 was RMB 168,185,000, significantly up from RMB 62,484,000 in the same period of 2021, representing a growth of 168%[152] - The company incurred a net cash outflow from investing activities of RMB 32,377,000, compared to RMB 59,387,000 in the previous period[154] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors, complying with corporate governance code requirements[98] - The company has committed to maintaining high levels of corporate governance to enhance shareholder value and transparency[90] - The roles of the chairman and CEO are not separated, as both roles are held by the same individual, which the board believes does not disrupt the balance of power[90] Shareholder Information - Major shareholder Sun Lianqing holds 35,045,103 shares, representing 35.05% of the total issued domestic shares[67] - The company has a significant concentration of ownership, with major shareholders holding over 25% of the total share capital[72] - The company has no single controlling shareholder, with the largest shareholder holding approximately 25.42% of the shares[160] Dividend Policy - The company did not declare an interim dividend for the six months ended June 30, 2022, compared to a dividend of RMB 0.12 per share (tax included) for the same period in 2021[97] - The company has not adopted a formal dividend policy due to its developmental stage and the influence of industry and economic outlook on performance[91] - The company declared a final dividend of RMB 20,677,000 for the year 2021, which was paid during the reporting period[145] Operational Challenges - The group's gross profit for the period was RMB 94.4 million, a decrease of 24.84% compared to RMB 125.6 million in the same period of 2021, primarily due to losses from the residential gas sales price inversion[43] - Financing costs for the group were RMB 6.1 million, up 38.64% from RMB 4.4 million in the same period of 2021, primarily due to increased interest expenses on bank acceptance bill discounts[45] - The company reported a loss of RMB 6,473,000 from financial assets measured at fair value through profit or loss during the first half of 2022[152]

Financial Performance - Jiaxing Gas Group reported a revenue increase of 15% year-over-year, reaching RMB 1.2 billion in 2021[6]. - The company achieved a net profit of RMB 300 million, representing a growth of 20% compared to the previous year[6]. - The company's revenue for the year reached RMB 1,988.6 million, representing a growth of 56.13% compared to the previous year[14]. - The profit attributable to shareholders for the year was RMB 117.4 million, an increase of 26.92% year-on-year[15]. - The total natural gas sales volume achieved 574 million cubic meters, marking a growth of 49.09% from the previous year[16]. - The net profit attributable to shareholders for the year was RMB 121.3 million, an increase of 27.02% from RMB 95.5 million in the previous year[33]. - The gross profit for the year was RMB 237.7 million, up 6.31% from RMB 223.6 million in the previous year[36]. - The company's other income and gains increased by 146.81% to RMB 11.6 million from RMB 4.7 million in the previous year[37]. - The actual tax rate for the year was 23.28%, with income tax expenses rising to RMB 36.8 million from RMB 30.0 million in the previous year[40]. Market Expansion and Strategy - The company plans to expand its market presence in Zhejiang province, targeting a 25% increase in market share by 2023[6]. - Future guidance estimates a revenue growth of 12% for 2022, driven by increased demand and operational improvements[6]. - The company is exploring potential acquisitions to enhance its service portfolio and expand its geographic footprint[6]. - Market expansion plans include entering two new provinces, which are projected to increase market share by 5%[59]. - The company is considering strategic acquisitions to enhance its service offerings, with a budget of 100 million earmarked for potential deals[59]. Customer and User Growth - User data indicated an increase in customer base by 10%, totaling 500,000 users by the end of 2021[6]. - User data showed an increase in active users, reaching 3 million, which is a 20% increase year-over-year[59]. - The company provided gas services to approximately 406,000 residential users and 1,959 commercial users by the end of the reporting period[31]. Technology and Innovation - New product development includes the launch of a smart gas meter, expected to enhance operational efficiency by 30%[6]. - The company is investing RMB 50 million in technology upgrades to improve service delivery and customer satisfaction[6]. - The company is investing in new technology development, allocating 50 million for R&D initiatives[59]. - The board of directors emphasized the importance of innovation and technology in driving future growth and competitiveness[6]. Governance and Management - The company has a strong governance structure with independent directors and experienced management in finance and engineering[70]. - The company emphasizes the importance of financial oversight and strategic management through its committees[72]. - The management team includes professionals with engineering qualifications, enhancing the company's capabilities in project management and safety oversight[86][89]. - The company has established a remuneration committee to determine the compensation policies for directors and senior management based on qualifications and tenure[121]. Sustainability and Environmental Commitment - The company has implemented new strategies focusing on sustainability and reducing carbon emissions by 15% over the next five years[6]. - The board of directors highlighted the commitment to sustainable practices, with plans to invest in green technologies[59]. - The company has adhered to all relevant environmental laws and regulations during the fiscal year ending December 31, 2021, demonstrating its commitment to environmental protection[184]. Risks and Compliance - The company faces risks related to the expiration or potential termination of its natural gas pipeline operating licenses, which may not be renewed or replaced[112]. - The company is affected by the Chinese government's price control system for natural gas, which can lead to a negative impact on profit margins due to the time lag between procurement and selling price adjustments[112]. - The company must secure substantial funding for current and future projects, and any inability to obtain sufficient capital or refinance existing debt could negatively impact its financial condition and operational performance[114]. - The company is subject to various risks and uncertainties that may affect its ability to achieve business objectives, highlighting the importance of risk management strategies[114]. Shareholder Information - The proposed final dividend for the fiscal year 2021 is RMB 0.15 per share, totaling RMB 20,676,675.00, subject to shareholder approval at the annual general meeting[97]. - As of December 31, 2021, the company had distributable reserves of approximately RMB 276.1 million[109]. - The company holds significant investment properties in Jiaxing, Zhejiang Province, including office and hotel spaces under medium-term leases[107].

JIAXING GAS GROUP CO., LTD.嘉興市燃氣集團股份有限公司 INTERIM REPORT 2021 中期報告 (a joint stock company incorporated in the People's Republic of China with limited liability) Stock code : 9908 （於中華人民共和國註冊成立的股份有限公司） 股份代號 : 9908 2021 2021 中期報告 INTERIM REPORT 目錄 02 公司資料 03 釋義 06 管理層討論與分析 12 企業管治及其他資料 21 獨立審閱報告 22 中期簡明綜合損益及其他全面收益表 23 中期簡明綜合財務狀況表 25 中期簡明綜合權益變動表 26 中期簡明綜合現金流量表 28 中期簡明綜合財務資料附註 公司資料 | --- | --- | |-------------------------------------------------------------------------------------------------------------|------- ...

嘉興市燃氣集團股份有限公司 JIAXING GAS GROUP CO., LTD. * 股份代號 : 9908 （於中華人民共和國註冊成立的股份有限公司） 2020 年 報 * 僅供識別 目錄 | 2 | 公司資料 | | --- | --- | | 3 | 釋義 | | 6 | 財務摘要 | | 7 | 主席報告 | | 9 | 管理層討論與分析 | | 15 | 董事、監事及高級管理層之簡歷 | | 23 | 董事會報告 | | 39 | 監事會報告 | 40 企業管治報告 64 財務報表附註 152 四年財務概要 53 獨立核數師報告 58 綜合損益及其他全面收益表 59 綜合財務狀況表 61 綜合權益變動表 62 綜合現金流量表 公司資料 董事會 執行董事 孫連清先生 （主席兼首席執行官） 徐松強先生 非執行董事 何宇健先生 鄭歡利先生 傅松權先生 獨立非執行董事 徐林德先生 于友達先生 鄭學啟先生 監事 劉雯女士 徐殳萍女士 王冬至先生 審核委員會 鄭學啟先生 （主席） 于友達先生 徐林德先生 提名委員會 孫連清先生 （主席） 徐林德先生 于友達先生 薪酬委員會 于友達先生 （主席） 何宇健先生 鄭 ...

嘉興市燃氣集團股份有限公司 JIAXING GAS GROUP CO., LTD.* 股份代號 : 9908 （於中華人民共和國註冊成立的股份有限公司） 2020 中期報告 *僅供識別 目錄 02 公司資料 03 釋義 05 管理層討論與分析 12 企業管治及其他資料 20 獨立審閱報告 21 中期簡明綜合損益及其他全面收益表 22 中期簡明綜合財務狀況表 24 中期簡明綜合權益變動表 25 中期簡明綜合現金流量表 27 中期簡明綜合財務資料附註 公司資料 | --- | --- | |-------------------------------------------|------------------------------------------------------------| | | | | 董事會 | 香港 H 股證券登記處 | | 執行董事 | 卓佳證券登記有限公司 | | 孫連清先生 （主席兼行政總裁） 徐松強先生 | 香港 皇后大道東 183 號 | | 非執行董事 | 合和中心 54 樓 | | 何宇健先生 鄭歡利先生 傅松權先生 | 核數師 安永會計師事務所 香港 | | 獨立非 ...