Financial Performance - The company's operating revenue for the first half of 2019 reached ¥1,219,806,555.66, representing a 128.52% increase compared to ¥533,775,501.86 in the same period last year[24]. - Net profit attributable to shareholders of the listed company was ¥155,897,864.71, up 52.14% from ¥102,471,111.96 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was ¥156,422,425.68, reflecting a 54.31% increase from ¥101,369,652.01 year-on-year[24]. - The net cash flow from operating activities was ¥357,303,026.23, which is a significant increase of 205.32% compared to ¥117,025,906.13 in the same period last year[24]. - Basic earnings per share for the reporting period (January to June) increased to 0.7 RMB, up 9.37% from 0.64 RMB in the same period last year[25]. - Diluted earnings per share for the reporting period also reached 0.7 RMB, reflecting a 9.38% increase compared to the previous year[25]. - The weighted average return on equity rose to 6.71%, an increase of 1.50 percentage points from 5.21% in the same period last year[25]. - The company reported a significant increase in revenue, achieving a total of $1.5 billion for the quarter, representing a 20% year-over-year growth[69]. - User data showed an increase in active users, reaching 10 million, which is a 15% increase compared to the previous quarter[69]. - The company provided guidance for the next quarter, expecting revenue to be between $1.6 billion and $1.7 billion, indicating a growth rate of approximately 10% to 13%[69]. Assets and Liabilities - As of June 30, 2019, the net assets attributable to shareholders of the listed company were ¥2,262,064,662.23, showing a slight decrease of 0.08% from ¥2,263,947,852.78 at the end of the previous year[24]. - Total assets as of the end of the reporting period were ¥7,945,651,878.46, which is a marginal decrease of 0.003% from ¥7,945,911,568.14 at the end of the previous year[24]. - Total current assets as of June 30, 2019, amounted to ¥2,864,504,987.32, an increase from ¥2,798,613,040.09 as of December 31, 2018, representing a growth of approximately 2.34%[111]. - Total liabilities decreased to ¥2,716,470,721.04 from ¥2,759,175,198.96, a decline of about 1.54%[116]. - The company's total equity totaled ¥1,570,914,428.61, a decrease from ¥1,740,889,199.41 in the previous year, indicating a decline of about 9.8%[123]. Operational Highlights - The company primarily engages in the distribution and sale of urban natural gas, with operations in nine cities in Xinjiang and Shanxi provinces[32]. - The main products and services include natural gas sales, household installation services, and compressed natural gas transportation[33]. - The company achieved a natural gas sales volume of 29,871.7 million cubic meters and completed the installation of 5,166 user connections in the first half of 2019[47]. - Operating costs rose by 68.42% to approximately ¥618.30 million, attributed to the consolidation of亚美能源's costs[48]. - Sales expenses surged by 510.13% to approximately ¥47.10 million, also due to the consolidation of亚美能源's expenses[48]. Market and Industry Insights - In 2018, China's natural gas consumption reached 276.6 billion cubic meters, with an annual increase of over 39 billion cubic meters, representing a growth rate of 16.6%[39]. - The import volume of natural gas in China for 2018 was 125.4 billion cubic meters, with a year-on-year increase of 31.7%, resulting in an import dependency of 45.3%[39]. - The urban gas supply volume in China has a compound growth rate of 17.5% over the past decade, driven by urbanization trends[38]. - The expected natural gas consumption growth in China from 2017 to 2023 is projected to contribute 37% to global natural gas consumption growth[38]. Corporate Governance and Shareholder Commitments - The controlling shareholder Ming Zaiyuan committed not to transfer or entrust the management of shares held before the IPO for 36 months from the date of listing[70]. - If the stock price falls below the IPO price for 20 consecutive trading days within 6 months post-listing, the lock-up period for shares will automatically extend by 6 months[70]. - The company will ensure that financial decisions are made independently without interference from controlling shareholders[70]. - The compensation system for executives is linked to the execution of the company's return measures[70]. - The controlling shareholders committed to reducing their holdings by a maximum of 100% of their shares within two years after the lock-up period ends[73]. Social Responsibility and Community Engagement - The company has established a "Love Education Poverty Alleviation Scholarship" to support impoverished students in the regions where it operates, with a total funding of 440,000 RMB allocated for this initiative[86]. - The company achieved a 100% visit rate to local educational institutions to assess the conditions of impoverished students[86]. - The total number of impoverished students supported by the scholarship program is 44[86]. Compliance and Regulatory Matters - The company has not made any changes to its accounting policies or estimates compared to the previous accounting period[92]. - The company strictly adheres to environmental protection policies and does not fall under the category of key pollutant discharge units[90]. - The financial statements are prepared based on the going concern principle, ensuring sufficient resources for the next 12 months[189]. - The company adheres to the Chinese Accounting Standards, ensuring accurate reflection of financial status and operational results[190].

Group 1: Event Announcement - The company will participate in the "2019 Annual Investor Online Reception Day" on July 26, 2019, from 15:00 to 17:30 [2] - The event is organized by the Xinjiang Listed Companies Association in collaboration with Shenzhen Panorama Network Co., Ltd. [2] - The online communication platform for the event is available at http://rs.p5w.net/ [2] Group 2: Company Representatives - The attendees from the company include Deputy General Manager Mr. Guo Zhihui and Director of the Board Office Mr. Liu Dong [2] - The company encourages investors to actively participate in the event [2] Group 3: Company Information - The announcement emphasizes the company's commitment to transparency, ensuring no false statements or omissions in the content [2] - The company aims to provide insights into its basic situation, development strategy, operational status, financing plans, equity incentives, and sustainable development [2]

2019 年第一季度报告 公司代码：603393 公司简称：新天然气 新疆鑫泰天然气股份有限公司 2019 年第一季度报告 1 / 19 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 19 2019 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人明再富、主管会计工作负责人尹显峰及会计机构负责人（会计主管人员）刘天俊 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-------------------------------------------------|------------- ...

Financial Performance - The company's operating revenue for 2018 reached ¥1,631,812,003.87, representing a 60.58% increase compared to ¥1,016,211,041.45 in 2017[22]. - Net profit attributable to shareholders was ¥334,568,720.37, a 26.88% increase from ¥263,697,411.03 in the previous year[22]. - The net cash flow from operating activities significantly increased by 134.33% to ¥684,258,507.29 from ¥292,010,902.28 in 2017[22]. - The total assets of the company surged by 246.07% to ¥7,945,911,568.14 compared to ¥2,296,022,919.30 at the end of 2017[22]. - The basic earnings per share rose to ¥2.09, marking a 26.67% increase from ¥1.65 in 2017[22]. - The weighted average return on equity increased to 16.60%, up by 2.31 percentage points from 14.29% in the previous year[22]. - The company reported a decrease in net profit after deducting non-recurring gains and losses, which fell by 11.74% to ¥210,424,105.80[22]. Shareholder Returns - The company reported a profit distribution plan for 2018, proposing a cash dividend of 10 RMB per 10 shares, totaling 160 million RMB, and a capital reserve conversion of 64 million shares, increasing total shares to 224 million[6]. - The company aims for a minimum cash dividend of 20% of distributable profits in the absence of major investment plans or cash expenditures[92]. - The company’s profit distribution policy mandates that at least 30% of the average distributable profits over the last three years must be distributed every three years[92]. - The company plans to maintain a cash dividend ratio of at least 80% if it is in a mature stage without major capital expenditures[92]. - In 2018, the cash dividend represented 47.82% of the net profit attributable to ordinary shareholders, which was 334,568,720.37 RMB[96]. Acquisitions and Expansion - The company successfully acquired Asia Energy Holdings Limited, expanding into coalbed methane exploration and production[30]. - The acquisition of Yamei Energy in 2018 allowed the company to expand its upstream market and gain coalbed methane development resources[40]. - The company acquired 50.5% of Asia Energy's issued shares for approximately 30.54 billion HKD, with a share price of 1.75 HKD[67]. Operational Highlights - The company is actively involved in natural gas sales, installation, and compressed natural gas transportation services across multiple regions in Xinjiang[30]. - The company is currently in the production phase for its coalbed methane projects, with significant areas under development contracts[30]. - The company achieved a total coalbed methane extraction volume of 802 million cubic meters and a sales volume of 781 million cubic meters in 2018[45]. - Natural gas sales volume reached 650 million cubic meters, representing a year-on-year growth of 17.81%[45]. Risk Management - The company confirmed no significant risks affecting normal operations during the reporting period, with detailed risk descriptions provided in the report[7]. - The company has no non-operational fund occupation by controlling shareholders or related parties during the reporting period[7]. - The company faces risks related to government policy changes, which can significantly impact market development and pricing mechanisms[85]. Corporate Governance - The company has established measures to prevent any related party transactions that could harm the interests of shareholders[13]. - The company has committed to not engage in any business activities that directly or indirectly compete with its main business operations[13]. - The company has a mechanism for independent directors to express opinions on the profit distribution policy, ensuring transparency and accountability[95]. Social Responsibility - The company has established a "Love Education Poverty Alleviation Scholarship Fund" to support impoverished students in the regions where it operates, achieving a 100% visit rate to reported families of students[132]. - The company actively engages in social responsibility, focusing on sustainable development and environmental protection[139]. Market Outlook - The company anticipates stable growth in natural gas demand, projecting a consumption of 305 billion cubic meters in 2019, a 10% increase year-on-year[89]. - The company is leveraging the "Belt and Road" initiative to expand its market presence, particularly in Xinjiang, utilizing local natural gas resources[81]. - The natural gas market in China is expected to maintain a growth rate of around 10% in the coming years, driven by urbanization and infrastructure development[77].

Financial Performance - Operating revenue for the first nine months rose by 37.23% to CNY 864,646,755.36 year-on-year[6] - Net profit attributable to shareholders decreased by 18.71% to CNY 124,591,657.16 compared to the same period last year[6] - Basic and diluted earnings per share fell by 18.75% to CNY 0.78[7] - Total operating revenue for Q3 2018 reached ¥330,871,253.5, a significant increase of 91.9% compared to ¥172,441,275 in the same period last year[28] - Net profit for Q3 2018 was ¥41,414,601.39, a decrease of 3.2% from ¥42,761,716.37 in Q3 2017[30] - The company reported a total comprehensive income of ¥224,532,663.88 for Q3 2018, compared to ¥42,761,716.37 in the same period last year[31] - The company reported a total comprehensive loss of CNY 20,804,973.84 for Q3 2018, reflecting ongoing operational challenges[34] Cash Flow and Liquidity - Net cash flow from operating activities increased by 102.15% to CNY 242,813,639.50 year-on-year[6] - The company's cash and cash equivalents increased to ¥1,904,665,659.27, a rise of 95.51% compared to the beginning of the year[12] - Cash and cash equivalents at the end of the reporting period totaled CNY 1,867,002,260.28, compared to CNY 801,234,653.77 at the end of the previous year[37] - Operating cash inflow totaled approximately $1.70 billion, with a net cash flow from operating activities of $196.55 million[40] - The cash flow from operating activities showed a positive trend, with a net cash flow increase compared to the previous quarter[40] - The company maintained a cash balance of $783.92 million at the beginning of the period, reflecting a strong liquidity position despite the net decrease[40] Assets and Liabilities - Total assets increased by 211.45% to CNY 7,150,905,464.55 compared to the end of the previous year[6] - Total current assets increased to ¥2,707,660,059.05 from ¥1,556,399,303.67, representing a growth of approximately 74%[20] - Total non-current assets increased to ¥4,443,245,405.50 from ¥739,623,615.63, showing a growth of around 501%[21] - Total liabilities rose to ¥2,450,272,027.87 from ¥354,333,384.00, indicating an increase of approximately 591%[22] - The total number of shareholders reached 19,397 by the end of the reporting period[9] - The largest shareholder, Ming Zaiyuan, holds 35.78% of the shares, with 57,249,553 shares pledged[9] Investment Activities - The company experienced a net cash outflow from investment activities of ¥2,799,230,478.43, indicating substantial investment in growth initiatives[13] - The company reported a significant cash outflow of $1.12 billion for investment activities, indicating a focus on growth and expansion[40] - The company completed a major asset acquisition of up to 50.5% of Asia Energy Holdings, enhancing its market position[17] - The company reported a total investment income of ¥58,439,584.97 for the year-to-date period, compared to ¥65,039,392.12 in the previous year[33] Expenses - Sales expenses increased by 77.76% to ¥17,547,699.66, while management expenses surged by 165.53% to ¥77,082,327.07[12] - Management expenses for Q3 2018 were ¥54,396,568.99, significantly higher than ¥11,133,098.8 in Q3 2017[29] - Financial expenses for Q3 2018 amounted to ¥53,630,669.74, compared to a negative expense of -¥2,878,289.52 in Q3 2017[29] - Other income for Q3 2018 was ¥35,479,202.11, a substantial increase from ¥2,636,627.78 in Q3 2017[29] Government Support - Government subsidies recognized in the first nine months amounted to CNY 9,130,923.69[8] Audit and Verification - The report did not include an audit report, indicating that the financials may not have undergone external verification for this quarter[41]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 533,775,501.86, representing a 16.64% increase compared to CNY 457,625,335.59 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2018 was CNY 102,471,111.96, a decrease of 7.27% from CNY 110,507,274.81 in the previous year[19]. - Basic earnings per share for the first half of 2018 were CNY 0.64, down 7.25% from CNY 0.69 in the same period last year[20]. - The weighted average return on equity for the first half of 2018 was 5.21%, a decrease of 0.85 percentage points from 6.06% in the previous year[20]. - The total profit for the first half of 2018 was CNY 125,499,248.55, down from CNY 129,988,767.90, reflecting a decline of 3.8%[103]. - The company's total comprehensive income for the first half of 2018 was CNY 102,471,111.96, down from CNY 110,507,274.81, a decrease of 7.4%[107]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly by 141.88%, reaching CNY 117,025,906.13 compared to CNY 48,381,772.25 in the same period last year[19]. - The company reported a substantial increase in cash and cash equivalents, totaling CNY 2,799,402,073.08, which is a 187.36% increase from CNY 974,188,338.21[11]. - Cash flow from operating activities for the first half of 2018 was CNY 117,025,906.13, significantly higher than CNY 48,381,772.25 in the previous year, showing an increase of 142.5%[108]. - The total cash and cash equivalents at the end of the period stood at CNY 166,601,279.92, a decrease from CNY 1,028,819,355.13 at the end of the previous year[113]. - The company received CNY 699,930,000.00 from borrowings during the first half of 2018, which was a new source of financing[112]. Assets and Liabilities - Total assets as of June 30, 2018, were CNY 3,694,638,955.19, marking a 60.91% increase from CNY 2,296,022,919.30 at the end of the previous year[19]. - The company's total liabilities include long-term borrowings of CNY 1,500,000,000.00, which were used to finance the acquisition of Asia Energy's equity[43]. - The company's total liabilities increased to CNY 1,807,896,546.57, up from CNY 1,453,563,162.57, reflecting a rise in financial obligations[97]. - The equity attributable to shareholders decreased to CNY 1,886,742,408.62 from CNY 1,941,689,535.30, reflecting a decline in retained earnings[97]. Business Operations - The company primarily engages in the distribution and sale of urban natural gas, with operations in 8 regions within Xinjiang, including Urumqi and Fukang[24]. - The natural gas sales business operates under a procurement model, primarily sourcing gas from PetroChina and Sinopec, with a small portion from new energy sources[25]. - The company achieved a natural gas sales volume of 334.949 million cubic meters, representing a year-on-year growth of 16%[37]. - The company has established stable and trustworthy relationships with upstream gas suppliers, ensuring sufficient gas supply for current operations and future development[32]. - The company utilizes both pipeline and vehicle transportation for gas distribution, ensuring efficient delivery to various user types[26]. Investments and Acquisitions - The company plans to acquire up to 50.5% of the issued shares of Hong Kong-listed Asia Energy Holdings Limited through a voluntary conditional cash offer[37]. - The total investment for the acquisition of a 50.5% stake in Asia Energy is projected to be CNY 2.6 billion, with CNY 700 million sourced from raised funds[49]. - The company plans to invest up to CNY 2.5 billion in its wholly-owned subsidiary for overseas asset acquisitions, including a significant stake in Hong Kong-listed Asia Energy[46]. Shareholder and Governance Matters - The company has committed to not transferring or entrusting the management of shares for 36 months post-IPO[61]. - The company’s major shareholders have agreed to a lock-up period of 36 months for their shares following the IPO[61]. - The controlling shareholder, Ming Zaiyuan, commits to limit share reduction to no more than 5% of total shares held annually within two years after the lock-up period[62]. - The company has not faced any significant risks during the reporting period[56]. - There are no plans for mergers or acquisitions disclosed in the reports[56]. Research and Development - Research and development expenses increased by 26.76% to CNY 22,685,758.08 compared to CNY 17,896,291.70 in the previous year[11]. - The company has committed to prioritize the transfer of any patents or technologies developed during research projects to itself or its subsidiaries[69]. Environmental and Social Responsibility - The company strictly adheres to environmental protection policies and does not fall under the category of key pollutant discharge units[79]. - The company has established an "Education Poverty Alleviation Scholarship" to support impoverished students in areas where it operates, achieving a 100% visit rate to assess student needs[77]. Accounting and Financial Reporting - The company adheres to the Chinese Accounting Standards, ensuring that its financial reports accurately reflect its financial position and performance[129]. - The financial statements were prepared based on the going concern principle, indicating the company's expectation of sufficient resources for continued operations over the next 12 months[128]. - The company has included all subsidiaries in its consolidated financial statements, based on control criteria[125]. Risk Management - The company has no significant risks affecting normal operations during the reporting period[5]. - There were no significant lawsuits or arbitration matters during the reporting period[72].

Financial Performance - Operating revenue for the period was CNY 329,315,225.92, representing a year-on-year growth of 19.68%[6] - Net profit attributable to shareholders was CNY 73,703,816.90, up 32.88% from the same period last year[6] - The weighted average return on equity increased by 0.68 percentage points to 3.73%[6] - Total operating revenue for Q1 2018 was CNY 329,315,225.92, an increase of 19.7% compared to CNY 275,165,663.15 in the previous period[28] - Net profit for Q1 2018 reached CNY 73,703,816.90, representing a 32.9% increase from CNY 55,464,710.24 in the same period last year[29] - Earnings per share for Q1 2018 was CNY 0.46, compared to CNY 0.35 in the previous year, reflecting a growth of 31.4%[29] - The company reported an operating profit of CNY 86,248,792.46 for Q1 2018, which is a 55.5% increase from CNY 55,506,476.49 in the previous period[29] Cash Flow - The net cash flow from operating activities was CNY 27,036,462.79, an increase of 18.07% year-on-year[6] - Cash inflows from operating activities amounted to CNY 334,028,575.28, up from CNY 298,525,804.18, indicating a growth of about 11.9% year-over-year[33] - The net cash flow from operating activities was CNY 27,036,462.79, an increase of 18.6% compared to CNY 22,898,507.47 in the same period last year[34] - The net cash flow from investment activities was CNY 85,857,538.96, a significant improvement from a negative CNY 12,303,505.27 in the previous year[34] - The cash and cash equivalents at the end of the period totaled CNY 1,087,082,339.96, compared to CNY 409,200,187.03 at the end of the previous period, reflecting a growth of approximately 165.7%[35] - The company reported a net cash outflow from financing activities of CNY 849,125.00, indicating a decrease in cash flow from financing compared to the previous period[36] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,316,372,815.60, an increase of 0.89% compared to the end of the previous year[6] - The company's total assets as of March 31, 2018, amounted to CNY 2,316,372,815.60, up from CNY 2,296,022,919.30 at the beginning of the year[23] - The company's total liabilities decreased from CNY 354,333,384.00 to CNY 299,348,040.70 during the same period[22] - The company's total equity as of Q1 2018 was CNY 1,705,049,178.49, slightly up from CNY 1,701,046,730.47 in the previous period[27] Receivables and Payables - Accounts receivable increased by 51.03% to CNY 27,545,875.16, mainly due to an increase in bank acceptance bills received by a subsidiary[12] - Prepaid accounts increased by 29.49% to CNY 24,025,102.06, primarily due to increased advance payments for natural gas procurement[12] - Other receivables rose by 24.11% to CNY 29,066,973.60, mainly from increased fiscal subsidy receivables[12] - The company reported a decrease in accounts payable from CNY 120,320,056.85 to CNY 95,257,945.86 during the same period[22] - The company’s accounts receivable increased to CNY 79,906,831.39 from CNY 75,080,287.73 year-on-year[21] Expenses and Income - Financial expenses for Q1 2018 were CNY -5,389,621.81, a significant increase of 768.70% year-on-year, attributed to higher interest income from current deposits[13] - The income tax expense for Q1 2018 was CNY 12,498,889.23, reflecting a 29.78% increase year-over-year due to higher total profits[14] - Other income for Q1 2018 was CNY 6,732,428.64, primarily from natural gas price difference subsidies, which increased compared to the previous year[14] - Investment income for Q1 2018 was CNY 1,511,734.29, down from CNY 3,906,228.99 in the previous period[28] Major Initiatives - The company is planning a major asset restructuring through its wholly-owned subsidiary, aiming to acquire shares in Hong Kong-listed company Asia Energy Holdings Limited[17] Comprehensive Income - The total comprehensive income for the first quarter of 2018 was CNY 4,002,448.02, compared to CNY 2,832,686.85 in the previous period, representing an increase of approximately 41.2%[32]

Financial Performance - The company achieved a net profit of 160 million RMB for the year 2017, after allocating 10% to statutory surplus reserves[7]. - A cash dividend of 10 RMB per 10 shares (including tax) is proposed, totaling 160 million RMB to be distributed to shareholders[7]. - The company's operating revenue for 2017 was CNY 1,016,211,041.45, representing an increase of 11.12% compared to CNY 914,506,740.60 in 2016[21]. - The net profit attributable to shareholders for 2017 was CNY 263,697,411.03, a growth of 29.67% from CNY 203,361,813.17 in 2016[21]. - The basic earnings per share for 2017 was CNY 1.65, reflecting a 5.77% increase from CNY 1.56 in 2016[22]. - The weighted average return on equity decreased to 14.29% in 2017, down 7.43 percentage points from 21.72% in 2016[22]. - The total assets at the end of 2017 were CNY 2,296,022,919.30, an increase of 9.83% from CNY 2,090,523,374.44 at the end of 2016[21]. - The net cash flow from operating activities for 2017 was CNY 292,010,902.28, up 11.28% from CNY 262,413,828.23 in 2016[21]. - The company reported non-recurring gains and losses totaling CNY 25,281,788.54 for 2017, compared to CNY 5,453,460.43 in 2016[26]. Business Operations - The company operates primarily in the natural gas distribution and sales sector, focusing on regions within Xinjiang, including Urumqi and several counties[28]. - The procurement of natural gas is mainly from PetroChina and Sinopec, with contracts typically signed annually to determine pricing and supply[29]. - The company aims to expand its business scale and sales volume by enhancing communication with government pricing departments and exploring new business areas[31]. - The company operates a pipeline network of 963 kilometers, with 22 distribution stations and 27 gas stations as of December 31, 2017[36]. - The company has established long-term operating rights in 8 cities and counties in Xinjiang, contributing to local urbanization and industrialization[35]. - The company has a diverse gas supply from multiple sources, enhancing its gas supply security and cost efficiency[36]. - The company achieved a natural gas sales volume of 55,184.8 million cubic meters, representing a year-on-year growth of 13.77%[42]. Market Environment - In 2017, China's natural gas consumption reached 237.3 billion cubic meters, a year-on-year increase of 15.3%, accounting for 7.0% of total primary energy consumption[35]. - The urban gas penetration rate in China rose from 87.4% in 2007 to 95.75% in 2016, indicating a high overall penetration but regional disparities[33]. - The natural gas consumption in China increased by 34 billion cubic meters in 2017, setting a historical record for consumption growth[35]. - The competition among urban gas companies is intensifying due to fixed project numbers and long construction cycles, making it harder to capture market share[68]. - The pricing mechanism for natural gas varies across upstream, midstream, and downstream sectors, with local government regulations causing delays in price adjustments for downstream companies[69]. Financial Management - The company maintained low operating expenses, with a management expense ratio of 5.29%, below the industry average[39]. - The company’s financial expenses decreased significantly by 1,087.03% due to increased interest income and reduced loan interest expenses[52]. - The company reported a financial expense of -¥6,349,814.34, a decrease from ¥643,323.96 in the previous period, indicating improved financial management[191]. - The company has implemented changes in accounting policies, resulting in an increase of CNY 29,335,172.17 in other income for the current period[97]. Shareholder and Dividend Policies - The company has a profit distribution policy that mandates at least 30% of the average distributable profit over the last three years to be distributed every three years[73]. - The cash dividend distribution ratio for 2017 was 55.59% of the net profit attributable to ordinary shareholders, which was 263,697,411.03 RMB[79]. - The company declared a cash dividend of 10 RMB per 10 shares, totaling 160,000,000 RMB (including tax) based on a total share capital of 160,000,000 shares as of the end of 2017[78]. - The company has committed to not transferring or entrusting the management of its shares for 36 months from the date of its IPO[81]. - The company has a plan to retain undistributed profits for future investment purposes, although specific details were not disclosed[80]. Corporate Governance - The company has maintained a standard unqualified audit opinion from its accounting firm[6]. - The company has implemented a robust internal control system, with no significant deficiencies reported during the reporting period[167]. - The independent directors actively protect the interests of all shareholders, particularly minority shareholders, during board meetings[159]. - The company has conducted 4 registrations of insider information personnel during the reporting period to maintain fair disclosure practices[163]. - The company has established a performance evaluation mechanism for senior management, linking monthly assessments to performance pay and annual evaluations to year-end bonuses[166]. Social Responsibility - The company is actively involved in poverty alleviation efforts through its "Love Education Poverty Alleviation Scholarship" program[113]. - The company has maintained a commitment to social responsibility and community support initiatives[113]. - The company emphasizes transparency and accurate information disclosure to enhance investor confidence[121]. - The company is committed to low-carbon economic development and environmental protection as part of its corporate social responsibility[122]. Future Outlook - The company plans to supply a total of 63.85 million cubic meters of gas in 2018 and aims to develop 27,926 new users[67]. - The company targets an operating revenue of approximately 1.18 billion and a net profit of approximately 270.85 million in 2018[67]. - The natural gas consumption in China is expected to grow at a CAGR of 15% from 2016 to 2020, with a target of increasing the share of natural gas in primary energy consumption from 6.3% in 2016 to 8-10% by 2020[63]. - The company aims to integrate the natural gas industry in Xinjiang and expand its market presence through acquisitions and investments in related industries[66].

2017 年第三季度报告 公司代码：603393 公司简称：新天然气 新疆鑫泰天然气股份有限公司 2017 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2017 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人明再富、主管会计工作负责人尹显峰及会计机构负责人（会计主管人员）刘天俊 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 21 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 2,130,734,210.98 2,090,523,374.44 1.92 归属于上市公司 股东的净资产 ...

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 457,625,335.59, representing a 14.68% increase compared to CNY 399,059,371.83 in the same period last year[21]. - The net profit attributable to shareholders of the listed company reached CNY 110,507,274.81, a 38.51% increase from CNY 79,781,185.86 in the previous year[21]. - The net profit after deducting non-recurring gains and losses was CNY 95,164,133.24, up 19.49% from CNY 79,642,054.96 in the same period last year[21]. - Basic earnings per share for the reporting period (1-6 months) increased by 4.55% to CNY 0.69 compared to CNY 0.66 in the same period last year[22]. - Diluted earnings per share also rose by 4.55% to CNY 0.69 from CNY 0.66 year-on-year[22]. - The weighted average return on equity decreased by 6.43 percentage points to 6.06% from 12.49% in the previous year[22]. - The basic earnings per share after deducting non-recurring gains and losses fell by 10.61% to CNY 0.59 from CNY 0.66 year-on-year[22]. - The company reported a decrease in non-operating income by CNY 7,690,579.25 due to adjustments in the new accounting standards[84]. - The company’s total comprehensive income for the first half of 2017 was CNY 60,190,337.44, a recovery from a comprehensive loss of CNY 2,287,331.49 in the previous year[123]. Cash Flow and Assets - The net cash flow from operating activities was CNY 48,381,772.25, down 28.11% from CNY 67,301,591.94 in the previous year[21]. - The total assets decreased by 2.69% to CNY 2,034,262,963.72 from CNY 2,090,523,374.44 at the end of the previous year[21]. - The total cash and cash equivalents at the end of the period reached CNY 1,178,378,197.84, compared to CNY 162,263,487.20 at the end of the previous year, reflecting a substantial increase[127]. - The total current liabilities decreased from CNY 255,438,271.54 to CNY 183,202,679.06, indicating improved liquidity management[113]. - The company's inventory increased significantly from CNY 12,290,839.26 to CNY 33,754,980.63, reflecting potential growth in operations[112]. - The accounts receivable rose to CNY 43,440,215.96 from CNY 39,499,274.25, indicating an increase in sales or credit terms[112]. - The company reported a decrease in total non-current liabilities from CNY 46,885,556.43 to CNY 62,843,098.17, suggesting a reduction in long-term financial obligations[113]. - The company's total liabilities decreased from CNY 302,323,827.97 to CNY 246,045,777.23, reflecting a stronger balance sheet[113]. Business Operations - The company operates in the urban natural gas distribution and sales sector, primarily in Xinjiang, covering 8 cities and districts[27]. - The natural gas sales business is mainly conducted through contracts with upstream suppliers, with a focus on procurement from PetroChina and Sinopec[28]. - The company aims to expand its business scale and sales volume by enhancing communication with government pricing departments[30]. - The urban gas industry in China has seen rapid growth, with natural gas consumption reaching 205.8 billion cubic meters in 2016[32]. - The company has secured long-term operating rights in eight cities and counties in Xinjiang, enhancing its competitive position in the urban gas market[36]. - The company benefits from multiple gas sources, ensuring a high level of gas supply security and cost advantages due to proximity to resource areas[36]. - Natural gas sales reached 28,587.58 million m³ in the first half of 2017, a 22.45% increase compared to 23,347.11 million m³ in the same period of 2016[45]. Risks and Challenges - The company has not reported any significant risks affecting normal operations during the reporting period[5]. - The company faces industry policy risks, relying on government policies such as natural gas prices and franchise rights, with market development closely tied to national policies[58]. - The company is experiencing intensified competition risk, as urban gas companies face greater challenges in market share competition, with a relatively fixed number and scale of investment projects[58]. - Price control risks exist, as the pricing of natural gas terminal sales is regulated by local governments, and the price linkage mechanism is unstable[59]. - The company faces supply security risks due to the control of gas source suppliers, which may impact gas supply assurance[59]. - Future risks may include market operation risks, necessitating attention to industry dynamics and policy changes[60]. Shareholder and Governance - The controlling shareholder Mingzaiyuan committed not to transfer or entrust the management of shares for 36 months from the date of the company's stock listing[66]. - The company plans to implement a share buyback program if the stock price remains below the issue price, ensuring shareholder value protection[72]. - The shareholders have committed to not transferring their shares for 12 months post-listing, with automatic extensions under certain conditions[69]. - The company will disclose any changes in shareholding plans in advance to maintain transparency with investors[72]. - The company has no major litigation or arbitration matters during the reporting period[80]. - The company continues to employ Zhongzheng Accounting Firm for auditing services for the year 2017[80]. - There are no significant integrity issues reported for the company or its controlling shareholders during the reporting period[80]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the going concern assumption, indicating sufficient resources for the next 12 months[143]. - The financial statements comply with the requirements of the accounting standards, reflecting the financial position as of June 30, 2017, and the operating results for the first half of 2017[145]. - The company follows specific accounting policies for revenue recognition based on its operational characteristics[144]. - The company assesses the fair value of identifiable assets and liabilities during business combinations, recognizing goodwill for excess costs[152]. - The company employs valuation techniques to determine the fair value of financial assets and liabilities in the absence of an active market, prioritizing observable inputs when available[163]. - The company uses the aging analysis method for impairment testing of accounts receivable, with specific percentages for different aging categories, such as 5% for within 1 year and 100% for over 5 years[179]. - Inventory is measured at the lower of cost and net realizable value, with provisions for inventory write-downs recognized when the net realizable value is lower than cost[182].