股票代码：600387 股票简称：海越能源 公告编号：临 2023-028 海越能源集团股份有限公司 关于举行 2022 年度网上业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ●会议召开时间：2023年5月16日（星期二）15:00-16:30 ●会议召开方式：投资者可登陆中国证券网http://roadshow.cnstock.com/ 参与本次业绩说明会 一、说明会类型 本公司决定于：2023年5月16日（星期二）下午15：00－16：30在中国证券 网网络平台举办2022年度业绩说明会。届时，公司管理层将就公司年度经营业绩、 利润分配、未来发展等与投资者交流沟通，欢迎广大投资者参与。 二、说明会召开的时间和方式 1、会议召开时间：2023年5月16日（星期二）15:00-16:30 2、会议召开方式：本次说明会采用网络远程方式举行，投资者可登陆中国 证券网http://roadshow.cnstock.com/参与本次业绩说明会。 三、参加人员 公司董事长兼财务总监王彬先生，公司 ...

Financial Performance - The company's operating revenue for Q3 2022 was CNY 2,935,402,786.61, representing a year-on-year increase of 23.01%[5] - The net profit attributable to shareholders for the same period was CNY 27,412,306.73, a significant increase of 827.42% year-on-year[5] - The net profit after deducting non-recurring gains and losses reached CNY 22,494,156.20, up 688.85% compared to the previous year[5] - The company reported a 61.29% increase in operating revenue for the year-to-date period, totaling CNY 9,059,017,614.40[5] - Net profit for the third quarter of 2022 was ¥80,470,463.63, compared to ¥28,443,615.88 in the same quarter of 2021, representing an increase of 182.5%[21] - The net profit attributable to shareholders of the parent company for the third quarter of 2022 was ¥70,399,004.24, up from ¥18,084,526.29 in the previous year, marking an increase of 288.5%[21] - The company reported a total comprehensive income of ¥76,446,598.02 for the third quarter of 2022, compared to a loss of ¥10,476,752.63 in the same quarter of 2021[21] Assets and Liabilities - The total assets at the end of the reporting period amounted to CNY 4,759,618,602.52, reflecting a growth of 12.18% from the end of the previous year[6] - The company's total current assets as of September 30, 2022, amount to ¥3,025,639,335.45, an increase from ¥2,539,014,786.59 at the end of 2021[16] - The total assets of the company are reported at ¥4,759,618,602.52, compared to ¥4,242,891,698.73 in the previous year[17] - The company's total non-current assets are valued at ¥1,733,979,267.07, up from ¥1,703,876,912.14 year-over-year[17] - The total liabilities for the company are reported at ¥1,238,669,296.11, an increase from ¥653,358,156.86 in the previous year[17] - Total liabilities as of the end of the third quarter of 2022 amounted to ¥1,416,759,468.25, compared to ¥839,920,467.73 at the end of the previous year, indicating a rise of 68.6%[20] - Total equity attributable to shareholders of the parent company was ¥3,124,480,041.58, a decrease from ¥3,215,802,758.56 in the previous year, reflecting a decline of 2.8%[20] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 1,116,773,876.05, indicating a decrease of 19%[6] - Cash inflow from operating activities for the first three quarters of 2022 was CNY 10,241,038,723.28, up from CNY 7,065,286,406.72 in the same period of 2021, indicating a 45.8% increase[22] - Cash outflow from operating activities totaled CNY 11,357,812,599.33, compared to CNY 8,003,727,256.34 in the previous year, reflecting a 42.5% increase[22] - Net cash flow from operating activities was negative CNY 1,116,773,876.05, worsening from negative CNY 938,440,849.62 in the first three quarters of 2021[22] - Cash inflow from investment activities was CNY 95,082,851.61, compared to CNY 61,262,235.00 in the same period of 2021, showing a 55.2% increase[23] - Cash outflow from investment activities increased to CNY 299,653,333.49 from CNY 161,061,269.21, marking an 85.5% rise[23] - Net cash flow from investment activities was negative CNY 204,570,481.88, compared to negative CNY 99,799,034.21 in the previous year[23] - Cash inflow from financing activities was CNY 322,156,700.00, up from CNY 179,075,933.83 in the same period of 2021, representing an 80% increase[23] - Cash outflow from financing activities totaled CNY 395,048,283.04, compared to CNY 249,009,226.46 in the previous year, indicating a 58.7% increase[23] - The ending cash and cash equivalents balance was CNY 295,474,521.90, compared to CNY 127,808,799.12 at the end of Q3 2021[23] Shareholder Information - The total number of common shareholders at the end of the reporting period is 18,300[12] - The largest shareholder, Tongchuan Huinengxin Energy Co., Ltd., holds 89,934,087 shares, accounting for 19.21% of total shares[13] - The company has pledged 63,705,972 shares held by HNA Cloud Commerce Investment Co., Ltd., which represents 13.61% of total shares[13] Earnings Per Share - The basic earnings per share for Q3 2022 was CNY 0.06, an increase of 700% year-on-year[6] - Basic and diluted earnings per share for Q3 2022 were both CNY 0.15, compared to CNY 0.04 in Q3 2021, representing a 275% increase[22]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥6,123,614,827.79, representing an increase of 89.56% compared to ¥3,230,374,669.56 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥42,986,697.51, a 96.71% increase from ¥21,852,953.25 in the previous year[19]. - The basic earnings per share for the first half of 2022 was ¥0.09, an increase of 80.00% compared to ¥0.05 in the same period last year[21]. - The net profit after deducting non-recurring gains and losses was ¥31,138,087.79, up 64.42% from ¥18,937,759.84 in the same period last year[19]. - The total profit for the first half of 2022 was CNY 83,535,546.85, compared to CNY 41,560,141.45 in the same period of 2021, reflecting a growth of 100.0%[94]. - The company reported a net profit of CNY 50,517,261.47, which is a 88.5% increase from CNY 26,843,406.27 in the first half of 2021[94]. Cash Flow - The net cash flow from operating activities was -¥1,118,167,062.96, which is a decline of 23.29% compared to -¥906,946,060.33 in the same period last year[19]. - The net cash flow from investment activities was -¥179,280,668.61, a significant decline of 271.75% compared to -¥48,226,716.08 in the same period last year[19]. - The net cash flow from financing activities was -¥83,825,366.38, which is a decrease of 524.76% compared to -¥13,417,261.06 in the previous year[19]. - The cash inflow from operating activities for the first half of 2022 was CNY 7,389,014,930.26, a significant increase of 77.5% compared to CNY 4,171,997,951.91 in the first half of 2021[97]. - The total cash outflow from operating activities was CNY 8,507,181,993.22, compared to CNY 5,078,944,012.24 in the first half of 2021[97]. - The company experienced a net decrease in cash and cash equivalents of CNY -1,381,164,317.48 for the period, compared to CNY -968,702,523.55 in the same period last year[98]. Assets and Liabilities - The total assets of the company increased by 15.65% to ¥4,906,812,059.84 from ¥4,242,891,698.73 at the end of the previous year[19]. - The company's net assets attributable to shareholders decreased by 3.95% to ¥3,088,875,311.38 from ¥3,215,802,758.56 at the end of the previous year[19]. - Total liabilities increased to RMB 1,602,098,551.18 from RMB 839,920,467.73, marking a rise of around 91%[83]. - The total current assets as of June 30, 2022, amounted to RMB 3,221,247,080.10, an increase from RMB 2,539,014,786.59 at the beginning of the period, reflecting a growth of approximately 27%[82]. - The company's inventory increased by 352.95% to CNY 1,046,287,986.43, reflecting higher stock levels in response to increased sales[35]. Operational Highlights - The oil and gas business in the Zhuji area recorded a total sales volume of 538,200 tons, generating sales revenue of 3.404 billion yuan[29]. - The subsidiary Northern Petroleum achieved an oil turnover of 1.569 million tons and a trade volume of 430,500 tons, resulting in sales revenue of 1.530 billion yuan[29]. - The property leasing subsidiary, Hangzhou Haiyue Real Estate, reached a historical high in overall rental rate, generating operating income of 12.7272 million yuan in the first half of 2022[30]. - The company maintained a stable operation in the biodiesel import and export business to ensure business stability amid market challenges[29]. - The company has a total of 5.2 million tons of finished oil storage capacity and 2,200 cubic meters of liquefied gas storage capacity in Zhuji[25]. Strategic Initiatives - The company plans to expand its market presence through increased sales activities and potential acquisitions in the energy sector[32]. - The company has established long-term strategic partnerships with major upstream suppliers in the petrochemical industry, enhancing its market competitiveness[27]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided data[89]. Risk Management - The company faces economic downturn risks due to reduced production and sales among upstream and downstream partners, influenced by the pandemic and weak demand in the refined oil terminal market[44]. - The company is exposed to industry volatility risks due to fluctuations in macroeconomic policies and international crude oil prices, which could impact future operations[45]. - The company will strengthen risk management and adjust business strategies proactively in response to signs of industry volatility[45]. Governance and Compliance - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period, indicating a focus on retaining earnings[53]. - There were changes in the supervisory board, with Li Yang resigning and Li Hang being elected as a new supervisor[52]. - The company has committed to minimizing related party transactions with Haiyue Energy, ensuring that unavoidable transactions are conducted at fair market prices[58]. Legal Matters - The company has faced significant litigation, including a dispute with China National Petroleum Corporation, which resulted in the rejection of claims by both parties in the first instance, with the case now being appealed[63]. - The total amount of guarantees provided by the company, excluding those to subsidiaries, is 12,804 million RMB, which accounts for 3.87% of the company's net assets[69]. Accounting Policies - The financial statements are prepared based on the assumption of going concern and comply with the relevant accounting standards issued by the Ministry of Finance[120][123]. - The company confirms that there are no significant doubts regarding the going concern assumption for the next 12 months[121]. - The company uses Renminbi as the functional currency, except for two subsidiaries that use USD and HKD respectively[126].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 2,363,051,884.86, representing a year-on-year increase of 46.37%[5] - The net profit attributable to shareholders was CNY 17,100,901.70, reflecting a year-on-year growth of 54.56%[5] - The basic and diluted earnings per share were both CNY 0.04, marking a 100% increase compared to the same period last year[6] - Net profit for Q1 2022 was ¥19,738,614.66, representing a 66.3% increase compared to ¥11,892,565.82 in Q1 2021[23] - The net profit attributable to shareholders of the parent company was ¥17,100,901.70, up 54.5% from ¥11,064,408.24 in Q1 2021[24] - The company reported a total profit of ¥35,182,991.49 for Q1 2022, compared to ¥18,912,526.69 in Q1 2021[23] Assets and Liabilities - Total assets increased by 8.81% to CNY 4,616,772,820.34 compared to the end of the previous year[6] - Total current liabilities rose from ¥653,358,156.86 to ¥1,005,083,534.28, an increase of approximately 53.7%[19] - Total liabilities as of Q1 2022 amounted to ¥1,184,314,146.61, compared to ¥839,920,467.73 in Q1 2021[20] - Total equity as of Q1 2022 was ¥3,432,458,673.73, up from ¥3,402,971,231.00 in Q1 2021[20] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 953,091,405.80, an increase of 15.92% year-on-year[5] - Net cash flow from operating activities was -$953.09 million, compared to -$1.13 billion in the previous year[27] - Total cash inflow from operating activities amounted to $2.98 billion, while cash outflow was $3.93 billion[27] - Cash flow from investment activities resulted in a net outflow of -$28.54 million, compared to -$41.63 million in the previous year[28] - Cash inflow from financing activities was $197.77 million, with a net cash flow of $2.90 million[28] - The ending balance of cash and cash equivalents was $703.22 million, down from $1.68 billion at the beginning of the period[28] Receivables and Inventory - The company reported a significant increase in accounts receivable by 108.39%, primarily due to increased receivables from subsidiaries[10] - Accounts receivable increased significantly from ¥119,989,643.15 to ¥250,042,576.44, representing a growth of about 108.5%[18] - Inventory rose from ¥230,996,671.32 to ¥469,355,324.26, an increase of approximately 103.5%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 20,388[14] - The largest shareholder, Tongchuan Huinengxin Energy Co., Ltd., holds 89,934,087 shares, accounting for 19.21% of total shares[14] Operating Costs - The company experienced a 47.28% rise in operating costs, correlating with increased sales activities[11] - Total operating costs for Q1 2022 were ¥2,330,230,343.49, up 45.8% from ¥1,598,363,351.74 in Q1 2021[22] Other Financial Metrics - The company has not disclosed any new strategies or future outlook in the provided documents[16] - The company received tax refunds totaling $1.35 billion, an increase from $128.01 million in the previous year[27] - The company paid $19.63 million in employee compensation, a decrease from $23.19 million in the previous year[27] - Cash outflow for taxes paid was $16.36 million, compared to $14.63 million in the previous year[27]

Financial Performance - In 2021, the company achieved a revenue of ¥8,281,948,281.63, representing a 67.95% increase compared to ¥4,931,276,209.72 in 2020[21] - The net profit attributable to shareholders was ¥76,512,136.19, a 7.93% increase from ¥70,888,159.19 in the previous year[21] - The basic earnings per share increased to ¥0.16, up 6.67% from ¥0.15 in 2020[22] - The company achieved a total sales revenue of 8.282 billion RMB in 2021, with a net profit attributable to the parent company of 77 million RMB[32] - The company reported a net profit of approximately 361.89 million, reflecting a growth of 49.43% year-over-year[83] - The company reported a total comprehensive income of ¥101,097,505.87 for 2021, compared to ¥59,669,742.58 in 2020, an increase of 69.5%[181] Cash Flow and Investments - The net cash flow from operating activities improved significantly to ¥518,530,308.13, compared to a negative cash flow of ¥398,547,576.74 in 2020, marking a 230.10% increase[21] - The company reported a significant cash flow from operating activities of approximately 1.457 billion RMB in the fourth quarter[24] - Net cash flow from investing activities decreased by 2,836.99% year-on-year to -CNY 137,180,074.53, due to increased investments by a subsidiary[50] - The company reported a cash flow from operating activities of CNY 518,530,308.13, a turnaround from a negative cash flow of CNY -398,547,576.74 in 2020[186] Assets and Liabilities - The company's total assets at the end of 2021 were ¥4,242,891,698.73, a 3.11% increase from ¥4,115,055,598.50 at the end of 2020[21] - Total liabilities amounted to ¥839,920,467.73, up from ¥792,273,636.35, marking an increase of around 6.0%[174] - The company's total assets increased from 411,505.56 million to 424,289.17 million, while total liabilities rose from 79,227.36 million to 83,992.05 million, resulting in an increase in the debt-to-asset ratio from 19.25% to 19.80%[143] Operational Highlights - The company has established a fuel storage capacity of 52,000 tons and operates 11 gas stations in the Zhuji area, collaborating with PetroChina and Sinopec[32] - The company faced challenges in the oil and gas market due to oversupply and weak demand in 2021[32] - The company plans to continue expanding its oil and gas business despite the adverse market conditions[32] - The company has established a strong procurement and sales channel, enhancing its market competitiveness through partnerships with major petrochemical companies[38] Strategic Initiatives - The company plans to focus on international trade around core industries such as oil and chemical products, aiming to increase business scale[68] - The company is focusing on investment in emerging industries such as new energy and information technology through its venture capital business[68] - The company plans to enhance customer retention and expand external markets to diversify its customer base and procurement channels[73] Governance and Compliance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards[76] - The company has implemented a robust information disclosure and investor relations management system, ensuring timely and accurate communication with shareholders[77] - The company has conducted multiple shareholder meetings to ensure compliance with regulations and to facilitate shareholder engagement[79] Employee Management - The company employed a total of 524 staff members, including 166 in the parent company and 358 in major subsidiaries[102] - The company emphasizes employee training, focusing on onboarding, safety, professional skills, and management capabilities[104] - The company has implemented a performance evaluation mechanism for senior management, linking compensation to annual performance targets[108] Risk Management - The company has acknowledged potential risks in its future development and operational plans, advising investors to be cautious[5] - The company faces risks from economic downturns and industry fluctuations, particularly due to ongoing impacts from the COVID-19 pandemic[70] - The company will actively monitor industry policy changes and adapt its strategies to mitigate potential risks from regulatory reforms in the oil and gas sector[71]

Financial Performance - The company's operating revenue for Q3 2021 was ¥2,386,269,287.29, representing a year-on-year increase of 244.9%[5] - The net profit attributable to shareholders was -¥3,768,426.96, a decrease of 118.9% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥3,820,002.55, down 120.71% year-on-year[5] - The basic earnings per share for the period was -¥0.01, a decrease of 125% compared to the previous year[6] - Revenue for the year-to-date reached ¥5,616,643,956.85, a 62.58% increase compared to ¥3,454,628,585.39 in the same period last year[11] - Net profit for the third quarter of 2021 was ¥28,443,615.88, a decrease of 51.1% from ¥58,341,040.35 in the same quarter of 2020[22] - The net profit attributable to the parent company shareholders for Q3 2021 was ¥18,084,526.29, a decrease of 66.1% compared to ¥53,414,175.54 in Q3 2020[23] - The total comprehensive income attributable to the parent company owners was -¥20,835,842.22 in Q3 2021, compared to ¥32,064,730.62 in Q3 2020[23] - The basic and diluted earnings per share for Q3 2021 were both ¥0.04, down from ¥0.11 in Q3 2020[24] Assets and Liabilities - The total assets at the end of the period were ¥4,333,147,453.84, an increase of 5.30% from the end of the previous year[6] - Total assets as of September 30, 2021, amounted to ¥4,333,147,453.84, compared to ¥4,115,055,598.50 at the end of 2020, indicating a growth of 5.3%[19] - Total liabilities increased to ¥1,013,301,671.17 as of September 30, 2021, from ¥792,273,636.35 at the end of 2020, representing a rise of 27.9%[19] - Current assets totaled ¥2,769,965,110.83, up from ¥2,584,440,922.50 at the end of 2020, marking an increase of 7.2%[18] Cash Flow - Cash flow from operating activities was -¥938,440,849.62, indicating a significant cash outflow[6] - Operating cash flow showed a negative change of -552.13%, amounting to -¥938,440,849.62 compared to -¥143,904,859.74 in the previous year[12] - Cash inflow from operating activities for the first three quarters of 2021 was ¥7,065,286,406.72, an increase of 30.5% from ¥5,413,106,031.10 in the same period of 2020[24] - The net cash flow from operating activities for the first three quarters of 2021 was -¥938,440,849.62, worsening from -¥143,904,859.74 in the same period of 2020[24] - Cash outflow from investing activities for the first three quarters of 2021 was ¥161,061,269.21, compared to ¥116,133,331.55 in the same period of 2020[25] - The net cash flow from financing activities for the first three quarters of 2021 was -¥69,933,292.63, a significant decrease from ¥1,683,672,467.89 in the same period of 2020[25] Investments and Receivables - Accounts receivable increased by 84.44% to ¥189,569,514.03, primarily due to increased receivables from subsidiaries[10] - Prepayments rose by 142.44% to ¥656,496,031.15, attributed to increased prepayments from subsidiaries[10] - The company reported a decrease in investment income from joint ventures, leading to a significant drop in net profit[10] - Investment income dropped by 74.19% to ¥3,740,140.15 from ¥14,491,283.88, attributed to changes in long-term equity investment income[12] - Other receivables rose by 58.2% to ¥1,430,291,721.60 from ¥904,105,240.28, primarily due to increased shareholder loans[11] Inventory and Financial Expenses - Inventory increased significantly by 672.51% to ¥269,433,534.43 from ¥34,877,675.52, primarily due to increases in subsidiaries' stock[11] - Financial expenses surged by 324.08% to ¥9,261,097.86 from ¥2,183,784.70, mainly due to interest income recognition from previous periods[12] - The company reported a financial expense of ¥9,261,097.86 for the third quarter, compared to ¥2,183,784.70 in the same quarter of 2020, indicating an increase of 324.5%[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 20,204[14] - The largest shareholder, Tongchuan Huinengxin Energy Co., Ltd., holds 19.21% of shares, totaling 89,934,087 shares[14]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥3,230,374,669.56, representing a 16.93% increase compared to ¥2,762,746,334.30 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 34.72% to ¥21,852,953.25 from ¥33,476,863.76 year-on-year[20]. - The total revenue for the first half of the year was ¥3,225,216,720.66, reflecting a year-on-year increase of 16.95%[50]. - The company achieved a sales revenue of 3.23 billion yuan in the first half of 2021, with a net profit attributable to the parent company of 22 million yuan[32]. - The total revenue for finished oil sales increased by 23.55% year-on-year, amounting to ¥1,731,003,170.44[48]. - The oil and gas business in Zhuji region completed a total sales volume of 400,200 tons, generating approximately 1.88 billion yuan in sales revenue[33]. - Northern Petroleum, a wholly-owned subsidiary, realized revenue of 1.316 billion yuan and a net profit of 32.30 million yuan, with an oil turnover of 2.5517 million tons and a trade volume of 535,800 tons in the first half of 2021[34]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥906,946,060.33, a significant decline of 508.12% compared to -¥149,139,699.51 in the previous year[20]. - The net cash flow from investment activities was negative at -¥48,226,716.08, a decline of 906.67% compared to a positive cash flow of ¥5,978,513.82 in the previous year[20]. - The net cash flow from financing activities was negative at -¥13,417,261.06, a 100.79% decrease from a positive cash flow of ¥1,693,440,444.13 in the previous year[20]. - The company's cash and cash equivalents decreased from 1,262,670,331.59 RMB at the end of 2020 to 321,434,618.86 RMB by June 30, 2021[106]. - The company reported a net cash outflow from investing activities of CNY -48,226,716.08, compared to a positive cash flow of CNY 5,978,513.82 in the previous year[130]. - The ending cash and cash equivalents balance was CNY 267,384,580.04, down from CNY 1,604,017,416.90 at the end of the first half of 2020[130]. Assets and Liabilities - The total assets increased by 4.04% to ¥4,281,158,556.18 from ¥4,115,055,598.50 at the end of the previous year[20]. - The total liabilities rose to CNY 981,065,361.21, an increase from CNY 792,273,636.35, indicating a growth of approximately 23.8%[108]. - The company's total assets decreased to ¥3,356,281,886.72 from ¥3,491,790,626.06, indicating a decline of 3.9%[114]. - The company's equity attributable to shareholders decreased slightly to CNY 3,140,968,680.67 from CNY 3,160,714,533.02, a decline of about 0.63%[109]. - The total owner's equity at the end of the reporting period was 2,692,619,500, reflecting an increase from the previous year[149]. Expenses and Income - Total operating costs amounted to ¥3,191,546,971.19, up from ¥2,724,745,409.54, reflecting a rise of 17.2% year-over-year[117]. - Tax and additional fees increased by 20.17% year-on-year, primarily due to increased revenue from subsidiaries[39]. - Sales expenses rose by 25.27% year-on-year, mainly attributed to increased sales costs from subsidiaries[39]. - Financial expenses surged by 1,105.59% year-on-year, primarily due to interest income recognition from fixed deposits in the previous period[39]. - Other income decreased by 80.72% year-on-year, mainly due to tax refunds received in the previous period[39]. - Investment income fell by 23.68% year-on-year, primarily due to changes in long-term equity investment income[39]. Shareholder and Equity Information - The company did not propose any profit distribution or capital reserve transfer plan for the first half of 2021, with no dividends or stock bonuses declared[65]. - The total equity attributable to shareholders at the end of the reporting period was 3,303,706,894.73 CNY, compared to 3,196,364,137.90 CNY at the end of the previous period, reflecting a growth of approximately 3.35%[145]. - The largest shareholder, Tongchuan Huineng Xinneng Co., Ltd., holds 89,934,087 shares, accounting for 19.21% of total shares[97]. - The company completed the cancellation of 3.63 million restricted stocks, reducing the total shares from 471,774,464 to 468,144,464[93]. Internal Control and Governance - The company has reported non-operating fund occupation by related parties, which has led to a negative opinion in the internal control audit report for 2020[6]. - The controlling shareholder, Tongchuan Huineng Xinnengyuan Co., Ltd., occupied funds amounting to CNY 14.03 billion as of April 30, 2021, with a new occupation of CNY 10.02 billion during the reporting period[78]. - There were no significant lawsuits or arbitration matters reported during the reporting period[82]. - The company did not provide any guarantees to third parties during the reporting period, with a total guarantee amount of CNY 14.17 billion, which accounts for 4.29% of the company's net assets[88]. Risk Management and Future Plans - The company plans to strengthen internal credit management and seek policy support to mitigate economic downturn risks[58]. - The company aims to enhance risk management and adjust business strategies in response to industry volatility and policy changes[59]. - The company will focus on maintaining existing customer relationships while actively expanding external markets to reduce customer concentration risks[59]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the assumption of going concern and comply with the relevant accounting standards issued by the Ministry of Finance[154]. - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[157]. - The company uses Renminbi as the functional currency, except for two subsidiaries that use USD and HKD respectively[160]. - The group recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[162].

Financial Performance - In 2020, the company's operating revenue was CNY 4,931,276,209.72, a decrease of 58.77% compared to CNY 11,959,630,452.70 in 2019[22]. - The net profit attributable to shareholders was CNY 59,127,692.98, representing a 20.91% increase from CNY 48,904,221.67 in the previous year[23]. - The company's total assets decreased by 9.48% to CNY 4,115,055,598.50 from CNY 4,546,177,182.09 in 2019[23]. - The net cash flow from operating activities was negative at CNY -398,547,576.74, compared to a positive CNY 167,729,071.54 in 2019[23]. - Basic earnings per share decreased by 85.15% to CNY 0.15 in 2020 from CNY 1.01 in 2019[24]. - The weighted average return on equity dropped by 14.52 percentage points to 2.29% in 2020 from 16.81% in 2019[24]. - The company reported a significant decline in revenue from its main business, with a net income of CNY 70,888,159.19, down 85.17% from CNY 477,883,450.79 in 2019[22]. - The company achieved a total sales revenue of 4.93 billion RMB in 2020, a decrease of 58.77% compared to the previous year[46]. - The net profit attributable to the parent company was 71 million RMB, down 85.17% year-on-year[49]. - The company reported a significant drop in oil prices, with WTI reaching a historic low of -40 USD per barrel in April 2020 due to the pandemic[73]. Cash Flow and Investments - The net cash flow from operating activities decreased by 337.61% to -CNY 398,547,576.74[60]. - The net cash flow from investing activities decreased by 98.85% to CNY 5,012,085.97[60]. - The net cash flow from financing activities increased by 179.35% to CNY 1,576,043,212.32[60]. - The company reported a cash repayment of 648.1 million RMB during the reporting period, with a total of 799 million RMB occupied at the beginning of the period[99]. - The company has completed cash repayments of 348 million RMB, with the remaining amount to be resolved through capital replenishment commitments[99]. - The company’s investment income dropped by 93.68% to 25.84 million RMB, mainly due to the previous year's gains from the disposal of a subsidiary[48]. Operational Performance - The company operates a storage and wholesale business for gasoline and liquefied gas, with a storage capacity of 52,000 tons for finished oil and 2,200 cubic meters for liquefied gas[34]. - The company has established long-term strategic partnerships with upstream suppliers, enhancing its supply chain capabilities[34]. - The company holds various operational licenses, making it one of the most qualified companies in the North China region for oil product operations[35]. - The company has developed stable supply and procurement relationships with numerous refining and petrochemical enterprises in North and South China[36]. - The company maintained a stable performance in property leasing and other businesses, with ongoing projects progressing according to the annual operational plan[43]. Risk Management and Compliance - The company has outlined potential risks in its future development and operational plans, advising investors to be cautious[8]. - The company will comply with all regulatory requirements to adapt to regional policy changes and ensure safety and environmental standards are met[81]. - The company has identified potential policy risks due to tightening safety regulations in the Tianjin Port area, which may impact its logistics operations[81]. - The company will ensure compliance with information disclosure obligations and related approval procedures for any related party transactions[89]. - The company will actively fulfill its obligation to avoid conflicts of interest as the largest shareholder of Hainan Energy[89]. Shareholder and Governance Matters - The company proposed a cash dividend of CNY 0.54 per share, totaling CNY 25,279,801.05 based on a total share capital of 468,144,464 shares[5]. - The company guarantees that commitments made regarding related party transactions will remain effective and irrevocable after the completion of the transaction[89]. - The company has established a complete independent labor, personnel, and compensation management system[90]. - The company has a structured governance framework to maintain independence from its parent company and related enterprises[91]. - The company emphasizes the importance of independent asset management, ensuring that all assets are under its control[90]. Employee and Community Engagement - The company created over 600 jobs and contributed more than 90 million in taxes during the reporting period[117]. - The company conducted 282 safety training sessions, with 5,509 participants in offline training and 18,300 in online training[45]. - The company emphasizes employee training, focusing on onboarding, safety, professional skills, and management capabilities[153]. Future Strategies and Market Outlook - The company plans to leverage resources from Tianjin storage area to develop trade business, enhancing its competitive advantage[66]. - The company plans to enhance customer retention and expand external market reach to mitigate risks associated with high customer and supplier concentration[82]. - The company plans to enhance its property leasing business by increasing rental rates and occupancy levels to boost rental income[78]. - The company is exploring partnerships with local firms to strengthen its supply chain, aiming for a 15% reduction in logistics costs[141]. - The company plans to implement new operational strategies aimed at reducing costs by 5% in the upcoming fiscal year[141].

Financial Performance - Operating revenue decreased by 14.00% to CNY 1,614,484,219.00 year-on-year[7] - Net profit attributable to shareholders decreased by 42.91% to CNY 11,064,408.24 compared to the same period last year[7] - Basic earnings per share decreased by 50.00% to CNY 0.02[7] - The weighted average return on net assets decreased by 0.29 percentage points to 0.35%[7] - Total operating revenue for Q1 2021 was CNY 1,614,484,219, a decrease of 14.0% compared to CNY 1,877,398,061 in Q1 2020[24] - Net profit for Q1 2021 was CNY 11,892,565.82, a decline of 37.0% from CNY 18,925,487.72 in Q1 2020[25] - Earnings per share for Q1 2021 were CNY 0.02, compared to CNY 0.04 in Q1 2020[26] - The company reported a decrease in financial expenses, with a total of CNY 5,450,275.11 in Q1 2021 compared to a gain of CNY 5,648,090.91 in Q1 2020[24] - Investment income for Q1 2021 was CNY 1,969,917.21, down 76.9% from CNY 8,525,000.85 in Q1 2020[24] - Other income for Q1 2021 was CNY 667,153.76, a decrease from CNY 1,594,200.59 in Q1 2020[24] Cash Flow - Net cash flow from operating activities showed a significant decline of 4,088.99% to -CNY 1,133,497,825.95[7] - Net cash flow from operating activities was negative at -¥1,133,497,825.95, a significant decline from -¥27,058,976.96, mainly due to increased payments to shareholders[16] - Net cash flow from investing activities was negative at -¥41,630,918.30, compared to a positive cash flow of ¥4,764,418.66 in the previous year, due to new investments by Haiyue Asset Management[16] - Net cash flow from financing activities decreased by 67.54% to ¥42,585,262.27 from ¥131,183,182.00, primarily due to cash received from the release of guarantees in the previous period[16] - The net cash outflow from operating activities was ¥1,133,497,825.95 in Q1 2021, significantly higher than the outflow of ¥27,058,976.96 in Q1 2020[31] - The company reported a net cash flow from investment activities of -¥41,630,918.30 in Q1 2021, compared to a positive cash flow of ¥4,764,418.66 in Q1 2020[31] - Cash flow from financing activities in Q1 2021 was ¥42,585,262.27, down from ¥131,183,182.00 in Q1 2020[32] Assets and Liabilities - Total assets increased by 5.40% to CNY 4,337,465,960.48 compared to the end of the previous year[7] - Total liabilities reached CNY 960,223,473.57, up from CNY 792,273,636.35, marking a growth of around 21.2%[20] - Current liabilities rose to CNY 755,185,558.41, compared to CNY 599,505,396.17, indicating an increase of approximately 25.9%[20] - Non-current assets totaled CNY 1,629,418,301.67, an increase from CNY 1,530,614,676.00, reflecting a growth of about 6.5%[19] - Cash and cash equivalents decreased by 89.69% to ¥130,153,259.17 from ¥1,262,670,331.59, primarily due to increased payments to shareholders by the parent company Haiyue Energy and its wholly-owned subsidiary Beifang Petroleum[14] - Accounts receivable increased by 53.03% to ¥157,284,019.36 from ¥102,778,887.90, mainly due to an increase in receivables from Zhuhai Haiyue Energy[14] - Inventory increased by 118.95% to ¥76,364,042.58 from ¥34,877,675.52, primarily due to inventory accumulation at Zhuhai Haiyue Energy[15] - Total assets amounted to CNY 4,115,055,598.50, with current assets at CNY 2,584,440,922.50 and non-current assets at CNY 1,530,614,676.00[37] - Total liabilities reached CNY 792,273,636.35, with current liabilities at CNY 599,505,396.17 and non-current liabilities at CNY 192,768,240.18[38] Shareholder Information - The number of shareholders at the end of the reporting period was 25,734[11] - The largest shareholder, Tongchuan Huinengxin Energy Co., Ltd., holds 19.21% of the shares[11] - The total equity attributable to shareholders increased to CNY 2,638,603,122.20 in Q1 2021 from CNY 2,593,835,480.91 in Q1 2020[24] Other Information - The company reported a non-recurring profit of CNY 2,173,819.18 for the period[9] - The company has not disclosed any new product or technology developments in this report[10] - The company experienced a credit impairment loss of CNY 2,042,956.39 in Q1 2021, compared to a gain of CNY 484,862.99 in Q1 2020[25] - The company did not apply the new leasing standards for retrospective adjustments[42] - The audit report was not applicable for this period[42]

Financial Performance - Operating revenue for the first nine months fell by 60.78% to CNY 3,454,628,585.39 year-on-year[6] - Net profit attributable to shareholders decreased by 88.46% to CNY 53,414,175.54 compared to the same period last year[6] - Basic earnings per share dropped by 88.78% to CNY 0.11[7] - The company reported a significant increase of 103.21% in net profit after deducting non-recurring gains and losses, reaching CNY 48,108,681.46[6] - The company's investment income fell by 96.73% to CNY 14,491,283.88 from CNY 442,604,921.22 in the same period last year[13] - The company reported a total comprehensive income of -¥12,821,659.06 for Q3 2020, contrasting with ¥69,514,492.05 in Q3 2019, indicating a significant downturn[24] - Total profit for Q3 2020 was ¥29,803,541.11, down from ¥66,368,266.93 in Q3 2019, a decrease of about 55.1%[23] - Net profit for Q3 2020 was ¥22,938,501.51, down from ¥49,364,787.72 in Q3 2019, indicating a decline of approximately 53.6%[23] Cash Flow - Net cash flow from operating activities turned negative at CNY -143,904,859.74, a decline of 181.92% year-on-year[6] - Cash flow from operating activities for the first three quarters of 2020 was ¥5,413,106,031.10, down 52.0% from ¥11,267,941,668.03 in 2019[28] - Cash inflow from operating activities totaled CNY 4,227,556,118.82 for the first three quarters of 2020, up from CNY 3,006,893,677.01 in 2019, indicating a growth of approximately 40.5%[30] - Cash outflow for purchasing goods and services was CNY 1,865,289,729.46 in the first three quarters of 2020, down from CNY 2,273,248,385.28 in the same period of 2019, a decrease of about 17.9%[30] - The net cash flow from financing activities for Q3 2020 was CNY 1,232,938,168.33, a significant improvement compared to a net outflow of CNY 25,778,285.27 in Q3 2019[31] Assets and Liabilities - Total assets decreased by 5.25% to CNY 4,307,315,591.73 compared to the end of the previous year[6] - The company's total assets as of September 30, 2020, were CNY 2,752,896,660.01, down from CNY 2,927,144,776.00 at the end of 2019[15] - Total liabilities decreased from CNY 1,349,813,044.19 in 2019 to CNY 1,013,272,926.58 in 2020, a reduction of about 25%[17] - Total current assets increased from CNY 1,784,112,934.21 in 2019 to CNY 2,230,282,587.92 in 2020, a growth of approximately 25%[19] - Total equity increased from CNY 3,196,364,137.90 in 2019 to CNY 3,294,042,665.15 in 2020, an increase of approximately 3%[17] - The company's short-term borrowings decreased by 25.98% to CNY 189,250,000.00 from CNY 255,666,000.00 at the beginning of the period[12] - Current liabilities decreased from CNY 1,119,956,890.28 in 2019 to CNY 835,616,772.73 in 2020, a reduction of about 25.4%[16] Shareholder Information - The number of shareholders reached 24,846 by the end of the reporting period[10] - The top shareholder, Tongchuan Huineng Xinneng Co., Ltd., holds 19.06% of shares[11] Research and Development - The company reported a significant reduction in research and development expenses, which were CNY 0 compared to CNY 94,593,266.88 in the same period last year[13] - Research and development expenses for the first three quarters of 2020 totaled ¥94,593,266.88, indicating ongoing investment in innovation[22] Operational Metrics - The gross profit margin for Q3 2020 was approximately 2.9%, compared to 0.7% in Q3 2019, showing an improvement in profitability despite lower revenues[22] - The operating profit for Q3 2020 was ¥27,924,405.22, slightly down from ¥28,379,098.71 in Q3 2019, showing a marginal decrease of 1.6%[23] - The company experienced a tax expense of ¥6,865,039.60 in Q3 2020, compared to ¥17,003,479.21 in Q3 2019, a decrease of approximately 59.6%[23]