Financial Performance - The company's operating revenue for Q3 2022 was ¥7,745,657,955.79, representing a year-on-year increase of 56.90%[4] - The net profit attributable to shareholders for Q3 2022 was ¥323,308,567.48, showing a decrease of 8.10% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥303,218,317.45, down 10.68% year-on-year[4] - For the first nine months of 2022, the company's operating revenue reached CNY 2,254,435,000, representing a year-on-year increase of 54.70% due to the consolidation of Jiangsu Siweike New Materials Co., Ltd.[12] - The net profit attributable to shareholders decreased by 28.39% year-on-year to CNY 86,208,000, primarily due to a significant increase in natural gas procurement prices that could not be timely adjusted in sales prices[12] - Total operating revenue for the first three quarters of 2022 reached ¥22,544,352,729.71, a significant increase from ¥14,572,647,979.74 in the same period of 2021, representing a growth of approximately 54.3%[19] - Net profit for Q3 2022 was ¥1,109,852,216.72, down from ¥1,303,041,684.02 in Q3 2021, reflecting a decrease of approximately 15%[20] - Total comprehensive income for the period attributable to the parent company was CNY 862,075,845.29, down from CNY 1,203,869,916.63 in the previous period, representing a decrease of approximately 28.4%[21] Cash Flow and Liquidity - The cash flow from operating activities for the year-to-date was negative at -¥36,191,585.48, a decline of 103.46% compared to the previous year[5] - Net cash flow from operating activities for the first three quarters was negative CNY 36,191,585.48, compared to positive CNY 1,045,733,492.66 in the same period last year[22] - Cash inflow from operating activities totaled CNY 24,252,686,288.96, an increase of 49.8% from CNY 16,181,451,363.76 in the previous year[22] - Cash outflow from operating activities increased to CNY 24,288,877,874.44, up from CNY 15,135,717,871.10, marking a rise of 60.5%[22] - Net cash flow from investing activities was negative CNY 1,686,488,609.02, an improvement from negative CNY 2,562,778,096.48 in the previous year[23] - Cash inflow from financing activities increased to CNY 10,455,438,493.45, compared to CNY 8,635,834,754.21 in the same period last year, reflecting a growth of 21.1%[23] - The company received CNY 4,654,768,583.45 in cash from borrowings, significantly higher than CNY 1,936,445,606.21 in the same period last year, indicating a growth of 140.5%[23] - The company’s cash outflow for paying dividends and interest was CNY 830,645,156.15, compared to CNY 678,496,926.63 in the previous year, reflecting an increase of 22.4%[23] Assets and Liabilities - The total assets at the end of Q3 2022 were ¥38,971,267,847.35, an increase of 14.30% compared to the end of the previous year[5] - The company's total liabilities as of Q3 2022 amounted to ¥24,016,347,604.58, an increase from ¥20,028,542,215.00 in the previous year, showing a growth of about 19.9%[18] - The total equity attributable to shareholders reached ¥12,749,430,606.98 in Q3 2022, up from ¥12,362,647,464.13 in Q3 2021, marking an increase of approximately 3.1%[18] - The total current assets increased to CNY 12,529,856,416.91 from CNY 9,243,981,475.48 year-on-year[16] - The company's goodwill rose to CNY 3,382,354,585.68, up from CNY 2,728,931,062.44 in the previous year[16] - The total assets as of Q3 2022 were ¥38,971,267,847.35, up from ¥34,096,211,723.46 in the previous year, indicating a growth of approximately 14.5%[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 51,400[10] - The basic earnings per share for Q3 2022 was ¥0.11, a decrease of 8.33% from the same period last year[5] - The company reported a basic and diluted earnings per share of CNY 0.30, down from CNY 0.42 in the previous period, indicating a decline of 28.6%[21] Operational Insights - The company reported a significant increase in operating revenue due to the consolidation of newly acquired enterprises from the previous year[9] - Natural gas sales volume was 3.336 billion cubic meters, a slight decrease of 0.18% compared to the same period last year, with Shenzhen's pipeline gas sales down 5.81% to 1.735 billion cubic meters[12] - The company reported a decrease in natural gas sales to power plants by 20.13% to 869 million cubic meters, while non-power plant sales increased by 9.45% to 2.467 billion cubic meters[12] - The revenue from Jiangsu Siweike New Materials Co., Ltd. during the reporting period was CNY 501,482,540, marking a year-on-year growth of 108.97%[12] - The company has highlighted the importance of monitoring the impact of rising natural gas prices on profitability and sales strategies moving forward[12] Research and Development - Research and development expenses for the first three quarters of 2022 were ¥438,770,940.63, compared to ¥214,097,900.12 in 2021, indicating an increase of about 104.5%[19]

Financial Performance - The company's operating revenue for the first half of 2022 was CNY 14.80 billion, an increase of 53.58% compared to CNY 9.64 billion in the same period last year[18]. - The net profit attributable to shareholders decreased by 36.77% to CNY 538.77 million from CNY 852.05 million year-on-year[18]. - The basic earnings per share decreased by 36.67% to CNY 0.19 from CNY 0.30 in the same period last year[19]. - The weighted average return on net assets decreased by 2.69 percentage points to 4.27% from 6.96% year-on-year[20]. - The net cash flow from operating activities was negative at CNY -987.15 million, a decrease of 232.84% compared to CNY 743.10 million in the same period last year[18]. - The company's total revenue for the reporting period was 14.80 billion RMB, a 53.58% increase year-on-year[51]. - The company's total profit for the first half of 2022 was CNY 153,154,610.85, a decline of 86.48% from CNY 1,132,887,478.32 in the same period of 2021[126]. - The company reported a net loss attributable to owners of CNY -65,637,871.79, reflecting a decline in profitability[141]. Assets and Liabilities - The total assets increased by 12.84% to CNY 38.47 billion compared to CNY 34.10 billion at the end of the previous year[18]. - The total liabilities rose by 19.30% to CNY 23.89 billion from CNY 20.03 billion at the end of the previous year[18]. - The company's short-term borrowings increased by 111.65% to 4.186 billion RMB, reflecting increased financing needs[54]. - The company's total liabilities reached CNY 23.89 billion, up from CNY 20.03 billion, indicating a growth of approximately 19.0%[114]. - The company's total assets at the end of the period amounted to CNY 12,011,048,579.90, demonstrating growth in asset base[142]. Cash Flow - The company's net cash flow from operating activities decreased by 232.84% to -987.15 million RMB due to rising natural gas procurement costs[51]. - Cash flow from operating activities showed a net outflow of CNY 987,149,570.82, compared to a net inflow of CNY 743,096,578.22 in the first half of 2021[128]. - Cash inflow from financing activities rose significantly to 5,234,000,000.00 RMB, up from 2,660,000,000.00 RMB in the same period last year, marking a 96% increase[132]. - The company reported a cash and cash equivalents net increase of 506,323,542.84 RMB, contrasting with a decrease of -349,416,492.74 RMB in the first half of 2021[132]. Investments and Subsidiaries - The company added new subsidiaries, which contributed to the increase in operating revenue[20]. - The company has included four new subsidiaries in the consolidated financial statements for the current year[149]. - The company has 100% ownership in Heze Shenran Clean Energy Co., Ltd. and Shenzhen Shenran New Energy Co., Ltd., and 51.22% ownership in Dongguan Shenran New Energy Technology Co., Ltd.[58]. Market and Operations - The company operates 57 urban pipeline gas projects across 13 provinces, serving over 5.95 million pipeline gas users and covering a population of over 20 million[33]. - The company has a stable annual supply of 4 billion cubic meters of natural gas from a procurement agreement with PetroChina[32]. - The company signed a 10-year LNG procurement contract with BP (China) Investment Co., with annual procurement volumes of 22.5 million tons for 2023-2024 and 30 million tons for 2025-2032[32]. - The company has developed a comprehensive energy service model, integrating natural gas, photovoltaics, and biomass to provide cooling, heating, electricity, and hydrogen services[29]. Research and Development - The company’s research and development expenses increased by 218.07% to 270.77 million RMB, driven by the expansion of subsidiaries[51]. - The company reported a significant increase in research and development expenses, totaling CNY 270,767,223.62, compared to CNY 85,127,690.79 in the first half of 2021, marking a growth of 218.5%[121]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 54,468[94]. - The top shareholder, Shenzhen Municipal People's Government State-owned Assets Supervision and Administration Commission, holds 1,153,583,786 shares, representing 40.1% of total shares[96]. - The total number of shares held by the top ten shareholders amounts to 2,455,000,000 shares, indicating a concentrated ownership structure[98]. Compliance and Governance - The company has maintained compliance with all commitments related to avoiding conflicts of interest and competition[79]. - The company continues to operate on a going concern basis, with sufficient funds to support operations and meet debt obligations for the next 12 months[151]. Accounting Policies - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[153]. - The accounting treatment for business combinations under common control measures the consideration paid and net assets acquired at book value, with adjustments made to capital reserves or retained earnings as necessary[157].

Financial Performance - The company's operating revenue for 2021 was CNY 21,414,734,213.10, an increase of 42.62% compared to CNY 15,014,814,569.43 in 2020[14]. - The net profit attributable to shareholders for 2021 was CNY 1,353,966,552.27, reflecting a growth of 2.46% from CNY 1,321,400,281.94 in the previous year[14]. - The total assets at the end of 2021 amounted to CNY 34,096,211,723.46, a 33.64% increase from CNY 25,514,236,010.61 in 2020[14]. - The total liabilities increased by 53.33% to CNY 20,028,542,215.00 in 2021, up from CNY 13,062,085,664.44 in 2020[14]. - The company's net cash flow from operating activities for 2021 was CNY 1,337,474,875.45, a decrease of 55.82% compared to CNY 3,027,639,210.43 in 2020[14]. - The net assets attributable to shareholders at the end of 2021 were CNY 12,362,647,464.13, representing a 4.60% increase from CNY 11,818,970,836.60 in 2020[14]. - The company's asset-liability ratio increased to 58.74% in 2021, up from 51.20% in 2020, an increase of 7.54 percentage points[15]. - The company achieved a total operating revenue of RMB 21.415 billion in 2021, representing a year-on-year increase of 42.62%[22]. - The net profit after deducting non-recurring gains and losses was RMB 1.333 billion, reflecting an 8.75% year-on-year growth[22]. - The total operating revenue for 2021 reached RMB 21,414,734,213.10, a significant increase of 42.5% compared to RMB 15,014,814,569.43 in 2020[184]. Operational Highlights - The number of natural gas users reached 5.74 million, an increase of 1.38 million users year-on-year[22]. - Natural gas sales volume was 4.401 billion cubic meters, up 14.05% year-on-year, while natural gas transmission volume increased by 117.00% to 0.811 billion cubic meters[22]. - The company signed long-term LNG procurement agreements and completed gas project acquisitions in cities such as Shunping and Lianshui[22]. - The company exceeded its target for gas pipeline installations in urban villages in Shenzhen, adding 1.01 million residential users and achieving a total of 3.75 million pipeline natural gas users in Shenzhen, with a penetration rate of 74%[23]. - The company achieved a net increase of 1.38 million natural gas users, with 1.13 million in Shenzhen and 250,000 in other regions[24]. - The company signed long-term contracts for LNG supply, adding approximately 570,000 tons per year, and became one of the first shippers for the national pipeline network[25]. - The company operates 57 urban pipeline gas projects across 13 provinces, serving over 5.74 million pipeline gas users and covering a population of over 20 million[36]. Investment and Acquisitions - The acquisition of Swick contributed to the increase in total assets and operating revenue, with Swick's photovoltaic film sales volume reaching 12 million square meters and revenue of RMB 1.734 billion in the last four months of 2021[22]. - The company entered the photovoltaic power generation sector by acquiring four solar power station assets in October 2021[34]. - The company invested in several companies, including a 100% stake in Nanjing New Star Wang Gas Co., Ltd., which focuses on urban gas production and sales[61]. - The company acquired a 50% stake in Jiangsu Swick New Materials Co., Ltd. for RMB 1.8 billion in August 2021[62]. - The company also acquired 100% equity of four photovoltaic power companies for a total consideration of RMB 757.69 million in November and December 2021[170]. Research and Development - Research and development expenses increased by 58.06% to CNY 382.1 million, driven by investments in both the company and the consolidated entity, Swick[45]. - The total R&D investment accounted for 1.78% of operating revenue[53]. - The company has filed a total of 391 intellectual property applications, with 207 granted, including 43 invention patents[40]. - The company established a multi-level innovation system with various research centers and partnerships with notable universities and enterprises[39]. Market and Industry Trends - In 2021, global natural gas consumption increased by 4.6%, reaching a historical high, while LNG trade grew over 9% year-on-year, also a record[30]. - China's apparent natural gas consumption reached 372.6 billion cubic meters in 2021, a year-on-year increase of 12.7%[30]. - The natural gas demand in China is expected to maintain rapid growth until 2040, with a peak demand of nearly 650 billion cubic meters[66]. - The global photovoltaic installed capacity is expected to exceed 14,000 GW by 2050, with solar and wind power accounting for 63%[68]. Corporate Governance - The company has been actively involved in corporate governance, with multiple shareholder meetings held to approve key resolutions[80]. - The company has maintained a strong governance structure with a clear delineation of roles among its board members and management team[89]. - The company reported a total of 13 board meetings held in the year, with all directors attending the majority of the meetings in person[95]. - The company has a structured remuneration decision-making process based on performance evaluations, ensuring alignment with corporate goals[91]. Social Responsibility - The company has actively engaged in social responsibility initiatives, including supporting poverty alleviation efforts in Guizhou Province for 26 years, with over 533 graduates sent for teaching and donations exceeding 6 million yuan[117]. - Shenzhen Gas invested over 6.9 million yuan in targeted poverty alleviation efforts in Minle West Village, resulting in a significant increase in per capita disposable income for villagers[118]. - The company organized 12 performances to promote patriotism and community spirit, integrating cultural activities with rural development efforts[119]. Financial Management - The company has engaged in various entrusted financial management activities, with a total amount of RMB 4,820 million across multiple contracts, achieving annualized returns ranging from 2.90% to 3.45%[136]. - The company has consistently achieved actual returns on entrusted financial management that match or exceed expected returns, indicating effective management of financial assets[136]. - The company has a structured deposit with Industrial Bank amounting to RMB 90 million, yielding an annualized return of 2.85%[136]. Future Outlook - The company plans to enhance its urban gas services by advancing the "bottle-to-pipe" initiative and optimizing its regional layout through acquisitions of quality urban gas projects[71]. - The company aims to expand its clean energy business in line with China's dual carbon goals, providing significant growth opportunities in the natural gas and photovoltaic sectors[65]. - The company plans to purchase LNG at a price based on upstream LNG procurement costs plus reasonable additional costs, as per the contract signed with Huaneng[139].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 6,785,528,192.59, representing a year-on-year increase of 55.92%[4] - The net profit attributable to shareholders was CNY 226,583,875.42, showing a decrease of 21.04% compared to the same period last year[4] - The basic earnings per share for the period was CNY 0.08, down by 20.00% from the previous year[4] - Net profit attributable to shareholders decreased by 21.04% to RMB 22.66 million, while the net profit excluding non-recurring gains and losses fell by 27.31% to RMB 20.56 million[13] - Net profit for Q1 2022 was CNY 279,132,792.97, a decrease of 9.7% compared to CNY 309,289,651.31 in Q1 2021[19] - The company reported a profit before tax of CNY 343,684,597.58 for Q1 2022, compared to CNY 378,759,331.93 in Q1 2021, indicating a decline of 9.3%[19] Cash Flow - The net cash flow from operating activities was negative at CNY -751,723,902.88, a decline of 817.26% year-on-year[4] - In Q1 2022, Shenzhen Gas reported cash inflows from operating activities of CNY 5,957,080,121.60, an increase of 32.0% compared to CNY 4,520,324,030.30 in Q1 2021[21] - The net cash outflow from operating activities was CNY -751,723,902.88, a decline from a net inflow of CNY 104,804,966.72 in the same period last year[22] - Cash outflows for purchasing goods and services amounted to CNY 5,685,035,461.48, up from CNY 3,406,589,938.02 in Q1 2021, reflecting a 67.0% increase[21] - Total cash inflows from financing activities reached CNY 3,651,926,799.11, compared to CNY 3,065,701,307.68 in Q1 2021, marking a 19.1% increase[22] - The company reported a cash and cash equivalents balance of CNY 1,735,142,554.27 at the end of Q1 2022, down from CNY 3,783,985,239.54 at the end of Q1 2021[23] - Cash outflows for financing activities totaled CNY 3,653,748,550.79, an increase from CNY 3,088,103,347.87 in the previous year[22] - The total cash outflow from investment activities was CNY 486,814,083.05, compared to CNY 267,990,503.14 in Q1 2021, indicating an increase of 81.6%[22] - The net cash flow from investment activities was CNY -470,707,790.58, worsening from CNY -177,576,973.76 in the same quarter last year[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 34,392,437,145.86, an increase of 0.87% from the end of the previous year[5] - Current assets totaled RMB 9.15 billion, slightly down from RMB 9.24 billion at the end of the previous year[15] - Total assets increased to RMB 34.39 billion from RMB 34.10 billion year-on-year[16] - The total liabilities as of Q1 2022 were CNY 19,796,150,013.97, slightly down from CNY 20,028,542,215.00 in the previous year[17] - Total equity attributable to shareholders rose to CNY 12,579,582,801.94, reflecting a 1.75% increase from the previous year[5] - Total equity increased to CNY 14,596,287,131.89 in Q1 2022 from CNY 14,067,669,508.46 in Q1 2021, representing a growth of 3.7%[17] Research and Development - The company's R&D expenses surged by 259.53% during the reporting period, primarily due to the consolidation of newly acquired companies[9] - Research and development expenses increased to CNY 110,841,073.86 in Q1 2022, compared to CNY 30,829,842.07 in Q1 2021, reflecting a growth of 259.5%[18] Sales Performance - The cash received from sales of goods and services increased by 32.03%, attributed to higher natural gas sales and the addition of new consolidated entities[9] - Natural gas sales volume reached 1.085 billion cubic meters, up 7.96% from 1.005 billion cubic meters in the same period last year[13] - Pipeline natural gas sales in Shenzhen decreased by 13.18% to 461 million cubic meters, while sales outside Shenzhen increased by 25.13% to 478 million cubic meters[13] - The company reported a significant increase in natural gas wholesale volume, which rose by 58.70% to 146 million cubic meters[13] Future Outlook - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[13]

Financial Performance - Operating revenue for Q3 2021 reached ¥4,936,826,447.57, an increase of 33.40% year-on-year[4] - Net profit attributable to shareholders was ¥351,817,332.19, a decrease of 18.89% compared to the same period last year[4] - Net profit excluding non-recurring gains and losses was ¥339,479,272.86, down 18.62% year-on-year[4] - Total operating revenue for Q3 2021 reached RMB 14,572,647,979.74, a significant increase of 44.8% compared to RMB 10,073,556,474.22 in Q3 2020[16] - Net profit for Q3 2021 was RMB 1,303,041,632.88, up 14.1% from RMB 1,142,060,550.10 in Q3 2020[16] - The company reported a gross profit margin of approximately 8.5% for Q3 2021, compared to 12.5% in Q3 2020, indicating increased costs[16] - Basic earnings per share for Q3 2021 were RMB 0.42, compared to RMB 0.38 in Q3 2020, indicating improved profitability[18] Cash Flow - Cash flow from operating activities showed a net amount of ¥1,045,733,492.66, a significant decrease of 61.77% compared to the previous year[5] - In the first three quarters of 2021, the cash inflow from operating activities was CNY 16.18 billion, a 33.3% increase from CNY 12.09 billion in the same period of 2020[19] - The net cash flow from operating activities decreased to CNY 1.05 billion, down 61.7% from CNY 2.74 billion year-on-year[19] - Cash outflow from investment activities totaled CNY 3.44 billion, significantly higher than CNY 0.88 billion in the previous year, resulting in a net cash flow from investment activities of -CNY 2.56 billion[19] - Cash inflow from financing activities reached CNY 8.64 billion, compared to CNY 3.28 billion in the same period last year, with a net cash flow of -CNY 74.08 million[21] - The company reported a cash and cash equivalents balance of CNY 2.30 billion at the end of the period, down from CNY 4.90 billion at the end of the previous year[21] Assets and Liabilities - Total assets as of the end of the reporting period were ¥29,949,658,038.11, representing a 17.38% increase from the end of the previous year[5] - The total assets as of September 30, 2021, amounted to RMB 29,949,658,038.11, an increase from RMB 25,514,236,010.61 at the end of 2020[15] - Total liabilities increased to RMB 16,077,595,806.77 in Q3 2021, compared to RMB 13,062,085,664.44 in Q3 2020[15] - The total current assets increased to RMB 7,439,150,558.26 in Q3 2021, compared to RMB 5,971,409,301.29 in Q3 2020[15] - The total equity attributable to shareholders increased to RMB 12,352,892,319.30 in Q3 2021 from RMB 11,818,970,836.60 in Q3 2020[15] Expenses and Costs - Research and development expenses for Q3 2021 were RMB 214,097,900.12, up from RMB 157,959,982.58 in Q3 2020, reflecting a focus on innovation[16] - The company paid CNY 12.70 billion for goods and services, which is a 71.5% increase from CNY 7.43 billion in the previous year[19] - The company incurred CNY 1.37 billion in employee payments, up from CNY 1.00 billion in the same period last year, reflecting increased labor costs[19] Government Support - The company received government subsidies amounting to ¥9,700,187.75 during the reporting period[6] Revenue Sources - The increase in operating revenue was primarily due to a rise in natural gas sales volume[7]

Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 9,635,821,532.17, representing a 51.20% increase compared to CNY 6,372,775,555.54 in the same period last year[15]. - Operating profit for the first half of 2021 was CNY 1,092,396,448.99, up 40.39% from CNY 778,094,753.51 year-on-year[15]. - The net profit attributable to shareholders for the first half of 2021 was CNY 852,052,584.44, a 29.46% increase from CNY 658,172,685.23 in the previous year[15]. - The basic earnings per share for the first half of 2021 were CNY 0.30, representing a 30.43% increase from CNY 0.23 in the same period last year[16]. - The weighted average return on equity increased to 6.96% from 5.80% year-on-year, an increase of 1.16 percentage points[16]. - The company achieved a revenue of 9.636 billion yuan in the first half of 2021, representing a year-on-year growth of 51.20% and a 46.38% increase compared to 2019[24]. - Net profit attributable to shareholders reached 852 million yuan, up 29.46% year-on-year and 43.19% compared to 2019[24]. - The company reported a net profit of CNY 26.76 million for the Gas Investment Company[37]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 25,808,088,874.78, reflecting a 1.15% increase from CNY 25,514,236,010.61 at the end of the previous year[15]. - The company's total liabilities at the end of the reporting period were CNY 13,246,848,998.85, which is a 1.41% increase from CNY 13,062,085,664.44 at the end of the previous year[15]. - The asset-liability ratio at the end of the reporting period was 51.33%, an increase of 0.13 percentage points compared to 51.20% at the end of the previous year[15]. - The company's net assets attributable to shareholders amounted to CNY 12,011,048,579.90, which is a 1.63% increase compared to CNY 11,818,970,836.60 at the end of the previous year[15]. - Total assets as of June 30, 2021, amounted to CNY 25,808,088,874.78, an increase from CNY 25,514,236,010.61 as of December 31, 2020[74]. - Total liabilities reached CNY 13,246,848,998.85, compared to CNY 13,062,085,664.44 at the end of 2020, indicating a growth in liabilities[75]. Cash Flow - The cash flow from operating activities for the first half of 2021 was CNY 743,096,578.22, down 14.60% from CNY 870,139,741.09 in the previous year[15]. - The company's net cash flow from operating activities for the first half of 2021 was ¥1,605,598,578.80, a significant increase from ¥241,122,548.98 in the same period of 2020, representing a growth of approximately 566%[88]. - The total cash inflow from operating activities was ¥5,804,634,788.72, up from ¥3,570,675,698.08 in the first half of 2020, reflecting an increase of around 62%[88]. - The company incurred cash outflows for financing activities totaling ¥4,986,509,458.43, compared to ¥2,951,035,202.77 in the previous year, representing an increase of approximately 68.8%[86]. Natural Gas Operations - The company operates 57 urban pipeline gas projects across 13 provinces, with natural gas as the primary source for sales in Shenzhen and surrounding areas[19]. - The company has established a comprehensive LNG and LPG supply chain, enhancing its competitive edge in resource procurement and sales[21]. - The company has a stable annual supply agreement for 271,000 tons of natural gas with Guangdong Dapeng Company, ensuring consistent supply[21]. - The company has a procurement agreement with PetroChina for an annual supply of 4 billion cubic meters of natural gas, further securing its gas supply[21]. - The company is positioned to benefit from the increasing share of natural gas in China's energy consumption, projected to reach 15% by 2030[20]. - The company anticipates continued growth in natural gas consumption driven by urbanization and energy structure adjustments in China[20]. - The number of natural gas users increased to 4.6865 million, with a net addition of 323,800 users during the reporting period[24]. - Natural gas supply volume was 2.759 billion cubic meters, a year-on-year increase of 54.77%, with sales volume at 2.286 billion cubic meters, up 38.29% year-on-year[24]. Research and Development - The company has established a technical innovation system with 346 patent applications, of which 183 have been authorized, including 41 invention patents[24]. - The company’s research and development expenses increased by 2.98% to ¥85.13 million, compared to ¥82.67 million in the previous year[30]. - Research and development expenses for the first half of 2021 were ¥85,127,690.79, slightly up from ¥82,667,078.04 in the previous year, indicating a focus on innovation[79]. Market Strategy and Expansion - The company has launched new projects in Shenzhen, including 10 innovative applications in commercial hot water and gas heating[25]. - The company expanded its pipeline gas supply in Shenzhen, achieving a sales volume of 1.258 billion cubic meters, a 30.13% increase year-on-year[25]. - The company expanded its liquefied petroleum gas (LPG) wholesale sales to 273,600 tons, representing a year-on-year growth of 41.85%[27]. Social Responsibility - Shenzhen Gas has invested a total of 540 million RMB in poverty alleviation efforts, including sending 488 graduates to assist in education in Guizhou province[46]. - The company has actively participated in rural revitalization efforts, deploying a team to assist Heqi Town in Shantou City as part of its commitment to poverty alleviation and rural development[48]. - Shenzhen Gas received the "Outstanding Contribution Collective" award for poverty alleviation efforts in Heyuan City for the years 2019-2020[47]. Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders is 29,788[59]. - The largest shareholder, Shenzhen Municipal People's Government State-owned Assets Supervision and Administration Commission, holds 1,153,583,786 shares, representing 40.10% of the total shares[60]. - The top ten shareholders hold a total of 2,000,000,000 shares, with the largest shareholder holding 1,153,583,786 shares[62]. Risks and Challenges - The company faces risks from global oil and gas market volatility, which may significantly impact the costs of liquefied natural gas and liquefied petroleum gas operations[39]. - The company is subject to uncertainties regarding economic recovery in regions affected by the COVID-19 pandemic, potentially affecting commercial gas usage growth[39]. - The company is actively monitoring the impact of national reforms in the natural gas industry, which may introduce uncertainties in user development[39]. Accounting and Financial Reporting - The company has adopted the revised accounting standards for financial instruments and revenue recognition since January 1, 2019, and January 1, 2020, respectively[99]. - The financial statements comply with the requirements of the Ministry of Finance and reflect the company's financial position as of June 30, 2021, accurately[100]. - The company uses Renminbi as its accounting currency, aligning with its primary business revenue and settlement currency[102]. - The company recognizes revenue from natural gas sales based on the fulfillment of specific conditions, including the customer's control over the gas and the company's right to receive payment[151].

Financial Performance - The company's operating revenue for 2020 was CNY 15,014,814,569.43, an increase of 7.06% compared to CNY 14,025,273,714.19 in 2019[18]. - The net profit attributable to shareholders of the listed company reached CNY 1,321,400,281.94, reflecting a growth of 24.92% from CNY 1,057,831,208.63 in the previous year[18]. - The total assets at the end of 2020 amounted to CNY 25,514,236,010.61, a 9.90% increase from CNY 23,215,754,677.81 in 2019[18]. - The company's net cash flow from operating activities was CNY 3,027,639,210.43, up 23.81% from CNY 2,445,445,795.16 in 2019[18]. - The total liabilities increased to CNY 13,062,085,664.44, representing a 12.12% rise from CNY 11,649,952,746.34 in the previous year[18]. - Basic earnings per share increased by 24.32% to CNY 0.46 in 2020 compared to CNY 0.37 in 2019[19]. - The weighted average return on equity rose to 11.55% in 2020, up from 10.47% in 2019, an increase of 1.08 percentage points[19]. - The company reported a net profit margin of 12% for 2020, which is an improvement from 10% in 2019[120]. Cash Flow and Investments - The company's cash flow from operating activities for the entire year showed a positive trend, with a total of CNY 3,027,000,000.00 generated[21]. - Cash received from operating activities increased to ¥227,987,931.11, up 91.16% from ¥119,262,556.27 in 2019[55]. - Cash paid for operating activities rose to ¥589,200,251.53, an increase of 32.32% from ¥445,285,921.75 in 2019[55]. - Cash received from investment activities increased to ¥1,225,621,912.12, up 17.25% from ¥1,045,334,126.44 in 2019[55]. - Cash paid for investment activities decreased to ¥896,927,400.00, down 32.49% from ¥1,328,528,500.00 in 2019[55]. - The company reported a significant increase in cash inflow from investment activities, totaling ¥1,511,716,166.44, compared to ¥1,191,899,608.77 in 2019, marking a 26.87% increase[188]. Business Operations and Market Presence - The company operates in 57 urban pipeline gas projects across 13 provinces, with natural gas sourced from major suppliers like PetroChina and Sinopec[26]. - The company serves over 5.81 million gas users across 57 cities, covering a population of over 20 million[32]. - The company completed the acquisition of the Dongfang Gas asset package, marking its entry into the Sichuan-Chongqing natural gas market[39]. - The company operates in 13 provinces and has obtained gas business franchise rights in 57 cities, enhancing its market presence[37]. - The company has established an integrated LNG and LPG supply chain, including a natural gas reserve and peak-shaving facility with an annual turnover capacity of 800,000 tons[31]. Research and Development - Research and development expenses totaled CNY 241.74 million, accounting for 1.61% of operating revenue[53]. - The company has filed for 312 intellectual property rights, with 163 granted, including 36 invention patents, demonstrating industry-leading innovation[35]. - The company has developed a technology innovation system, including partnerships with universities and research institutions, to advance cloud computing and big data applications in the gas industry[34]. - The company is investing heavily in R&D, allocating 150 million for new technology development in 2021, which is a 20% increase from the previous year[120]. Corporate Governance and Compliance - The company has received a standard unqualified audit report from KPMG Huazhen[3]. - The company strictly adheres to relevant laws and regulations, enhancing its corporate governance structure and ensuring independent operations from its controlling shareholders[138]. - The company reported no significant defects in internal control during the reporting period, and the internal control audit received a standard unqualified opinion[147]. - The company submitted monthly financial reports to its controlling shareholder, the Shenzhen State-owned Assets Supervision and Administration Commission, in compliance with regulations[138]. Social Responsibility and Community Engagement - The company has actively engaged in social responsibility initiatives since 2011, with reports available on the Shanghai Stock Exchange website[99]. - The company supported poverty alleviation efforts by investing RMB 10.2 million in a poultry farming project to encourage employment among impoverished households[91]. - A total of 168 registered impoverished individuals were lifted out of poverty, achieving significant success in poverty alleviation efforts[93]. - The company invested 692 million in targeted poverty alleviation work, contributing to various projects including infrastructure improvements[97]. Future Outlook and Strategic Plans - The company plans to distribute a cash dividend of CNY 2.10 per 10 shares to all shareholders[4]. - The company aims to achieve natural gas sales of 4.5 billion cubic meters and liquefied petroleum gas sales of 520,000 tons in 2021[71]. - The company plans to accelerate the construction of LNG transport vessels and enhance the LNG supply chain, optimizing gas source procurement[71]. - The company is considering strategic acquisitions to enhance its market position, with a budget of 500 million allocated for potential mergers and acquisitions in 2021[120].

Financial Performance - Net profit attributable to shareholders rose by 32.20% to CNY 286.97 million year-on-year[4] - Operating revenue grew by 53.60% to CNY 4.35 billion compared to the same period last year[4] - Basic earnings per share increased by 25.00% to CNY 0.10 compared to the previous year[5] - The weighted average return on net assets improved to 2.38%, up by 0.46 percentage points from the previous year[4] - Net profit attributable to shareholders was 286.97 million RMB, a 32.20% increase from 217.07 million RMB year-on-year, and a 20.42% increase from 238.31 million RMB compared to the same period in 2019[11] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 282.91 million RMB, a 30.15% increase from 217.37 million RMB year-on-year, and a 26.12% increase from 224.32 million RMB compared to the same period in 2019[11] - Net profit for Q1 2021 was ¥309,289,651.31, up from ¥223,668,295.52 in Q1 2020, reflecting a growth of approximately 38.3%[23] - The net profit for Q1 2021 reached CNY 548,599,819.19, compared to CNY 198,269,504.21 in Q1 2020, representing a 176.5% increase[27] Revenue and Sales - The company's operating revenue for the reporting period was 4,351.81 million RMB, an increase of 53.60% compared to 2,833.28 million RMB in the same period last year, and a 40.00% increase from 3,108.36 million RMB in the same period of 2019[10] - Natural gas sales revenue reached 2,789.21 million RMB, up 33.90% from 2,082.98 million RMB year-on-year, and up 37.25% from 2,032.16 million RMB compared to the same period in 2019[10] - The sales volume of natural gas was 1,005 million cubic meters, representing a 37.30% increase from 732 million cubic meters year-on-year, and a 59.02% increase from 632 million cubic meters compared to the same period in 2019[10] - The company's operating revenue for Q1 2021 was CNY 2,126,956,755.56, a 57.6% increase from CNY 1,347,745,694.94 in Q1 2020[25] Cash Flow and Assets - Cash flow from operating activities turned positive with a net amount of CNY 104.80 million, a significant increase of 629.12% year-on-year[4] - The company reported a net cash flow per share from operating activities of CNY 0.04, compared to a negative CNY 0.01 in the previous year[4] - The company reported a cash and cash equivalents balance of 3,796.32 million RMB, a slight decrease from 3,891.15 million RMB at the end of the previous year[13] - The company's cash inflow from operating activities totaled CNY 4,520,324,030.30 in Q1 2021, compared to CNY 2,885,802,203.12 in Q1 2020, marking a 56.7% increase[28] - The cash flow from operating activities for Q1 2021 was CNY 104,804,966.72, a turnaround from a negative cash flow of CNY -19,807,243.68 in Q1 2020[28] - The company's cash and cash equivalents were ¥1,892,034,776.41 as of March 31, 2021, slightly down from ¥1,919,676,590.98 at the end of 2020, a decrease of approximately 1.4%[19] Shareholder Information - The total number of shareholders reached 32,712 by the end of the reporting period[7] - The largest shareholder, Shenzhen State-owned Assets Supervision and Administration Commission, holds 40.10% of the shares[7] Assets and Liabilities - Total assets increased by 1.61% to CNY 25.93 billion compared to the end of the previous year[4] - The total liabilities of the company were 13,054.69 million RMB, slightly down from 13,062.09 million RMB at the end of the previous year[15] - The total equity attributable to shareholders was 12,181.29 million RMB, an increase from 11,818.97 million RMB at the end of the previous year[16] - The company's total assets as of March 31, 2021, amounted to ¥20,455,665,489.19, compared to ¥19,841,557,597.69 at the end of 2020, showing an increase of about 3.1%[20] - The total liabilities as of March 31, 2021, were ¥9,651,520,222.60, compared to ¥9,610,509,890.56 at the end of 2020, indicating a slight increase of about 0.4%[20] Research and Development - The company has not disclosed any new product developments or market expansion strategies in this report[4] - Research and development expenses for Q1 2021 were ¥30,829,842.07, down from ¥39,813,031.12 in Q1 2020, indicating a decrease of about 22.6%[23] Operating Costs - Total operating costs for Q1 2021 were ¥3,981,434,114.80, compared to ¥2,558,248,061.60 in Q1 2020, indicating an increase of about 55.5%[21] - The total operating costs for Q1 2021 were CNY 1,475,655,728.76, which is a 69.9% increase from CNY 868,221,405.25 in Q1 2020[25]

Financial Performance - Net profit attributable to shareholders rose by 18.93% to CNY 1.09 billion year-on-year[6] - Basic earnings per share increased by 18.75% to CNY 0.38[6] - The weighted average return on equity improved by 1.08 percentage points to 9.44%[6] - The company reported a significant increase in other income, which rose by 147.08% to RMB 32,397,262 from RMB 13,111,957 in the previous year[14] - The company expects a cumulative net profit for the year to not show significant changes compared to the previous year[17] - The company reported a decrease in operating costs to CNY 1,301,138,266.46 in Q3 2020 from CNY 1,427,253,085.43 in Q3 2019, reflecting improved operational efficiency[31] - Q3 2020 net profit attributable to shareholders was CNY 433,364,454.66, up 34.1% from CNY 323,485,158.72 in Q3 2019[29] - Total profit for Q3 2020 was CNY 529,530,405.64, an increase of 29.6% from CNY 408,394,347.69 in Q3 2019[28] Revenue and Sales - Revenue for the first nine months was CNY 10.07 billion, a slight increase of 0.73% compared to the same period last year[5] - The company's operating revenue for the reporting period was RMB 1,007,356,000, a 0.73% increase from RMB 1,000,069,000 in the same period last year[12] - Natural gas sales revenue reached RMB 672,144,000, up 1.71% from RMB 660,873,000 year-on-year, with sales volume increasing by 22.14% to 2.758 billion cubic meters[12] - The cash inflow from sales of goods and services for the first three quarters was CNY 11,772,705,811.82, compared to CNY 10,867,955,367.34 in the same period of 2019, representing an increase of approximately 8.3%[34] Assets and Liabilities - Total assets increased by 9.41% to CNY 25.40 billion compared to the end of the previous year[5] - The company's total equity reached CNY 12.32 billion, compared to CNY 11.57 billion at the end of 2019, marking an increase of about 6.5%[22] - Total current liabilities increased to CNY 9.94 billion from CNY 8.52 billion, reflecting a rise of approximately 16.7%[21] - The company's inventory decreased to CNY 437.18 million from CNY 466.10 million, a decline of about 6.2%[20] - The company's non-current assets totaled CNY 18.62 billion, up from CNY 18.12 billion, indicating an increase of about 2.8%[21] - Total liabilities increased to CNY 9,533,467,531.15 in Q3 2020 from CNY 8,297,150,625.86 in Q3 2019, representing a growth of approximately 14.9%[25] Cash Flow - Operating cash flow increased by 49.99% to CNY 2.74 billion for the first nine months of the year[5] - The total cash inflow from operating activities for the first three quarters of 2020 was CNY 12,094,738,770.28, an increase from CNY 11,141,935,579.30 in the same period of 2019, representing a growth of approximately 8.6%[34] - The net cash flow from operating activities increased significantly to CNY 2,735,381,510.72, compared to CNY 1,823,745,184.72 in the previous year, marking an increase of about 50%[34] - The cash inflow from financing activities totaled CNY 3,280,178,256.79, an increase from CNY 2,687,679,927.25 in the previous year, reflecting a growth of about 22%[35] Shareholder Information - The number of shareholders reached 25,797 by the end of the reporting period[9] - The largest shareholder, Shenzhen Municipal Government, holds 50.07% of the shares[9] Government Support - The company received government subsidies amounting to CNY 67.54 million during the reporting period[7] Borrowings and Debt - The company’s long-term borrowings increased by 193.60% to RMB 140,049,500 from RMB 47,700,000 due to the acquisition of a subsidiary[13] - The company reported a decrease in short-term borrowings to CNY 1.25 billion from CNY 2.39 billion, a reduction of about 47.9%[21] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[31]

Financial Performance - Operating revenue for the first half of 2020 was CNY 6,372,775,555.54, a decrease of 3.20% compared to the same period last year[13]. - Operating profit increased by 8.28% to CNY 778,094,753.51 compared to CNY 718,621,107.88 in the previous year[13]. - Net profit attributable to shareholders was CNY 658,172,685.23, reflecting a growth of 10.68% year-on-year[13]. - The net cash flow from operating activities reached CNY 870,139,741.09, an increase of 26.74% compared to the previous year[13]. - Total profit amounted to CNY 823 million, representing a year-on-year increase of 12.92%[23]. - The company sold 1.653 billion cubic meters of natural gas, a year-on-year increase of 17.48%, with sales revenue from natural gas reaching CNY 4.443 billion, up 4.12%[23]. - The company achieved operating revenue of CNY 6.373 billion, a year-on-year decrease of 3.20%, primarily due to the impact of the pandemic on industrial gas and liquefied petroleum gas sales[23]. - The company reported a total comprehensive income of CNY 681,906,407.34 for the first half of 2020, compared to CNY 621,278,625.53 in the same period of 2019[92]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 24,234,629,663.02, up 4.39% from the end of the previous year[13]. - The company's total liabilities amounted to CNY 12,442,463,101.92, which is a 6.80% increase year-on-year[13]. - The debt-to-asset ratio increased by 1.5 percentage points to 51.33%[13]. - Current liabilities rose to ¥9,287,788,025.18 from ¥8,522,639,786.31, reflecting an increase of approximately 8.96%[85]. - Total liabilities reached ¥12,442,463,101.92, up from ¥11,649,952,746.34, marking a growth of around 6.78%[85]. - The total current assets reached approximately 5.689 billion RMB, an increase from 5.096 billion RMB at the end of the previous year[83]. Shareholder Information - The total number of ordinary shareholders reached 26,396 by the end of the reporting period[61]. - The largest shareholder, Shenzhen Municipal Government State-owned Assets Supervision and Administration Commission, holds 1,440,396,780 shares, representing 50.07% of the total shares[61]. - The company has not proposed any profit distribution or capital reserve transfer plans for the reporting period[37]. Cash Flow and Financing - Cash and cash equivalents increased by 28.67% to CNY 3.82 billion, primarily due to the issuance of short-term financing bonds[28]. - The company issued CNY 1.5 billion in short-term financing bonds during the period, contributing to a net cash flow from financing activities increase of 110.43%[25]. - The company reported a significant increase in cash and cash equivalents, with a net increase of approximately ¥851.99 million, compared to a decrease of ¥120.16 million in the first half of 2019[98]. Market and Business Operations - The company operates in 12 provinces with 48 city gas franchise rights, focusing on natural gas supply[19]. - The natural gas sales volume is expected to maintain stable growth due to favorable policies and urbanization trends[20]. - The company plans to expand its liquefied petroleum gas (LPG) business into areas without pipeline gas access, targeting market segments that are currently underserved[20]. - The overall development environment for the city pipeline gas industry is expected to continue improving due to urbanization and consumption upgrades[20]. Research and Development - The company holds 284 patents and software copyrights, with 151 authorized, including 34 invention patents, demonstrating its technological leadership in the gas industry[22]. - The company has established a comprehensive R&D system with multiple innovation platforms, focusing on smart gas management and safety[22]. - Research and development expenses for the first half of 2020 were CNY 82,667,078.04, slightly up from CNY 80,490,693.51 in the same period of 2019[90]. Social Responsibility and Community Engagement - The company has established a poverty alleviation program in Minle West Village, focusing on education, employment transfer, and infrastructure improvement[50]. - The company has implemented a "short, flat, and fast" agricultural project to support impoverished households, providing chicken seedlings to labor-capable households[51]. - The company has ensured the implementation of social security policies for impoverished households, including medical assistance and educational support[52]. - The company has successfully helped 168 registered impoverished individuals to achieve poverty alleviation, meeting the standards for complete poverty eradication in Minle West Village[56]. Audit and Compliance - The company has appointed KPMG Huazhen LLP for the 2020 financial audit, with total audit fees amounting to 2.25 million RMB (including tax)[39]. - There are no significant litigation or arbitration matters reported during the reporting period[41]. - The company has not faced any penalties or corrective actions involving its directors, supervisors, or major shareholders during the reporting period[41]. Financial Instruments and Accounting Policies - The company recognizes revenue when control of goods or services is transferred to customers, which includes having the right to receive payment and the transfer of significant risks and rewards[163]. - Financial instruments include cash, equity investments, receivables, payables, borrowings, and bonds[122]. - The company recognizes impairment losses on financial assets when cash flows are no longer expected to be recoverable, leading to a direct write-down of the asset's carrying amount[136]. - The company plans to execute the new revenue recognition standard starting January 1, 2020, which may impact the financial statements[185].