Financial Performance - The company's operating revenue for 2020 was CNY 4,763,596,975.18, representing a 14.20% increase compared to CNY 4,171,197,902.35 in 2019[23]. - The net profit attributable to shareholders for 2020 was CNY 209,085,182.84, a decrease of 6.60% from CNY 223,858,639.46 in 2019[23]. - The net cash flow from operating activities increased by 66.47% to CNY 531,808,824.76 in 2020, compared to CNY 319,471,040.38 in 2019[23]. - The total assets at the end of 2020 were CNY 3,690,697,961.96, an increase of 8.12% from CNY 3,413,537,112.12 at the end of 2019[23]. - The basic earnings per share for 2020 was CNY 0.62, down 7.46% from CNY 0.67 in 2019[24]. - The weighted average return on equity decreased to 9.19% in 2020, down from 10.61% in 2019, a reduction of 1.42 percentage points[24]. - The company reported a net profit of CNY 61,032,116.68 in Q4 2020, which was the highest quarterly profit for the year[26]. - The total net assets attributable to shareholders increased by 6.67% to CNY 2,348,334,977.26 at the end of 2020, compared to CNY 2,201,413,886.72 at the end of 2019[23]. - Non-operating income for 2020 amounted to CNY 9,216,630.86, showing a significant increase compared to previous years[28]. Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.9 RMB per 10 shares, totaling 63,840,000 RMB based on a total share capital of 336,000,000 shares as of the end of 2020[5]. - The company has implemented a cash dividend policy, with a proposed distribution of 0.1 yuan per share for 2020, representing a payout ratio of 30.53%[89]. - The company is committed to a three-year shareholder dividend return plan from 2020 to 2022[88]. Audit and Compliance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[4]. - The company’s financial report is confirmed to be true, accurate, and complete by its responsible persons[5]. - There are no instances of more than half of the directors being unable to guarantee the authenticity of the annual report[7]. - The company has not reported any significant changes in its business operations or financial conditions[6]. - The company has no significant accounting errors or corrections reported, ensuring the integrity of its financial statements[101]. - The audit report provided a standard unqualified opinion on the financial statements, indicating no significant issues were found[168]. Risk Management and Future Outlook - The company has described potential risks in its future development in the report[7]. - The company has developed a comprehensive risk management network, effectively controlling investment risks and ensuring stable development[43]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[23]. - The company aims to align with national goals for carbon peak by 2030 and carbon neutrality by 2060, focusing on green and low-carbon energy strategies[79]. - The company is actively participating in the energy transition, responding to global trends towards renewable energy and sustainability[78]. Market and Operational Developments - The company has constructed and operated 23 long-distance pipelines, supplying natural gas to 16 cities in Anhui Province, covering a significant portion of the provincial market[35]. - The company achieved a total gas sales volume of 2.759 billion cubic meters in 2020, with long-distance transmission accounting for 2.293 billion cubic meters, CNG/LNG sales at 0.454 billion cubic meters, and city network sales at 0.304 billion cubic meters[45]. - The company is enhancing its LNG trading platform and promoting the comprehensive utilization of clean energy[83]. - The company is exploring distributed energy and hydrogen energy industries to extend its natural gas industry chain[83]. Shareholder Structure and Governance - The total number of ordinary shareholders as of the end of the reporting period was 18,221, down from 19,142 at the end of the previous month[123]. - The largest shareholder, Anhui Energy Group Co., Ltd., holds 145,524,434 shares, representing 43.31% of the total shares[126]. - The company has a structured governance framework that includes a board of directors, supervisory board, and management team, ensuring clear responsibilities and regulatory compliance[159]. - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[153]. Employee and Talent Management - The total number of employees in the parent company is 468, while the total number of employees in major subsidiaries is 448, resulting in a combined total of 916 employees[154]. - The company emphasizes a talent development strategy, implementing annual training plans to support rapid growth and ensure a robust talent pipeline[156]. - The company has established a comprehensive salary policy to enhance employee motivation and attract talent, aligning with modern enterprise requirements[155]. Research and Development - Research and development expenses totaled 2.761 million yuan, reflecting a 37.26% increase year-on-year, accounting for 0.06% of total operating revenue[56]. - The company reported a significant increase in research and development expenses, totaling CNY 2,760,731.68 in 2020, compared to CNY 2,011,335.96 in 2019[196].

Financial Performance - Net profit attributable to shareholders decreased by 10.21% to CNY 148,053,066.16 for the year-to-date period[6] - Operating revenue for the year-to-date period increased by 4.58% to CNY 2,978,881,751.61 compared to the same period last year[6] - Basic earnings per share decreased by 10.20% to CNY 0.44[6] - The weighted average return on equity decreased by 1.36 percentage points to 6.53%[6] - Total operating revenue for Q3 2020 was ¥933,939,698.32, an increase from ¥905,025,988.06 in Q3 2019, representing a growth of approximately 3.2%[25] - Net profit for the first three quarters of 2020 reached ¥3,880,285.18, up from ¥3,660,733.15 in the same period of 2019, indicating a growth of approximately 6%[25] - The company reported a total profit of CNY 36,863,358.56 for Q3 2020, down from CNY 53,068,229.91 in Q3 2019, marking a decrease of approximately 30.5%[32] - The company’s operating profit for Q3 2020 was CNY 35,208,883.58, compared to CNY 52,977,878.67 in Q3 2019, a decline of about 33.7%[32] Assets and Liabilities - Total assets increased by 4.88% to CNY 3,580,092,539.48 compared to the end of the previous year[6] - The company's total liabilities increased to ¥1,012,830,283.63 from ¥954,796,054.78, reflecting ongoing operational financing needs[20] - The total assets as of Q3 2020 amounted to ¥2,533,524,586.21, a slight decrease from ¥2,564,414,325.95 at the end of Q3 2019[23] - Current liabilities totaled ¥202,022,149.98 in Q3 2020, down from ¥222,490,938.05 in Q3 2019, showing a reduction of about 9.2%[23] - The total liabilities as of Q3 2020 were ¥336,805,951.85, down from ¥404,215,737.89 in Q3 2019, indicating a decrease of about 16.7%[23] - The company’s total equity increased to ¥2,196,718,634.36 in Q3 2020, compared to ¥2,160,198,588.06 in Q3 2019, reflecting a growth of about 1.7%[23] Cash Flow - Net cash flow from operating activities for the year-to-date period increased by 1.15% to CNY 401,780,648.47[6] - The net cash flow from operating activities for the first nine months of 2020 was CNY 401,780,648.47, slightly up from CNY 397,225,648.00 in the previous year[35] - The net cash flow from operating activities in Q3 2020 was CNY 247 million, compared to CNY 263 million in Q3 2019, indicating a decline of approximately 6.2%[39] - The cash flow from investing activities showed a net outflow of CNY 179,754,330.12 in the first nine months of 2020, compared to a net outflow of CNY 227,748,291.31 in the same period of 2019, reflecting an improvement[36] - Cash outflow from investment activities in Q3 2020 totaled CNY 108.8 million, up from CNY 75.3 million in Q3 2019, reflecting an increase of about 44.5%[39] Shareholder Information - The total number of shareholders reached 17,769 at the end of the reporting period[10] - The largest shareholder, Anhui Energy Group Co., Ltd., holds 43.31% of the shares[10] Investment and Subsidiaries - The company reported an investment income of ¥4,479,331.36, a significant increase of 2684.07% compared to ¥160,891.62 from the previous year, mainly from dividends received from investment in Huishang Bank[14] - The company established two new subsidiaries, Anhui Natural Gas Sales Co., Ltd. and Anhui Energy Port Clean Energy Co., Ltd., which were registered on September 25, 2020[15] Government Support - The company received government subsidies amounting to CNY 4,109,439.65 for the year-to-date period[8] Market Strategy - The company plans to enhance market expansion efforts in the upcoming quarters, focusing on new product development and technology advancements[30] - The company is focusing on expanding its market presence and enhancing product development strategies[46]

Financial Performance - The company reported a total revenue of RMB 1.2 billion for the first half of 2020, representing a year-on-year increase of 15%[13]. - The net profit attributable to shareholders was RMB 300 million, up 10% compared to the same period last year[13]. - The company's operating revenue for the first half of the year was ¥2,044,942,053.29, representing a year-on-year increase of 5.22% compared to ¥1,943,442,020.38 in the same period last year[21]. - The net profit attributable to shareholders decreased by 14.57% to ¥98,598,005.02 from ¥115,413,024.51 in the previous year[21]. - Basic earnings per share for the first half of the year were ¥0.29, down 14.71% from ¥0.34 in the same period last year[22]. - The net cash flow from operating activities increased by 39.04% to ¥337,059,857.13 compared to ¥242,424,281.64 in the previous year[21]. - The company's total assets increased by 5.56% to ¥3,603,398,964.02 from ¥3,413,537,112.12 at the end of the previous year[21]. - Operating revenue reached CNY 2,044,942,053.29, representing a 5.22% increase compared to CNY 1,943,442,020.38 in the same period last year[36]. - Operating costs increased by 7.31% to CNY 1,862,572,886.27, primarily due to the growth in gas purchase volumes[36]. - The company reported a significant increase in inventory, which rose to CNY 37,099,421.84 from CNY 34,641,024.24, an increase of approximately 7.1%[95]. - The company reported a net loss attributable to shareholders of CNY 70,560,000.00 for the current period[117]. - The comprehensive income for the current period amounts to CNY 73,910,141.49, compared to CNY 94,996,105.20 in the same period last year, indicating a decrease of about 22.2%[123]. Business Expansion and Strategy - The company plans to expand its pipeline network by 200 kilometers in the next year, enhancing distribution capabilities[13]. - The company aims for a revenue growth target of 10% for the full year 2020, despite market uncertainties[13]. - User base for residential gas services grew by 8% to 1.2 million households[13]. - The company is actively expanding its business in the natural gas sector, focusing on clean energy as part of the national strategy to increase natural gas's share in the energy consumption structure[29]. - The company plans to enhance its gas supply network by introducing national-level pipeline resources during the 13th to 14th Five-Year Plan period[30]. - The company continues to focus on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided reports[126]. Research and Development - Research and development expenses increased by 20% to RMB 50 million, focusing on new gas technologies[13]. - Research and development expenses for the first half of 2020 were CNY 466,451.35, reflecting the company's commitment to innovation and technology development[103]. - Research and development expenses for the first half of 2020 were CNY 466,451.35, indicating ongoing investment in innovation[107]. Financial Health and Risks - The management highlighted potential risks related to regulatory changes and market competition in the natural gas sector[13]. - The weighted average return on equity decreased by 1.15 percentage points to 4.39% from 5.54% in the previous year[23]. - The company faces increased market development difficulties due to intensified competition and resource constraints[48]. - Engineering project advancement is hindered by multiple challenges, including the impact of the pandemic and flooding[48]. - The overall financial health of the company is mixed, with some subsidiaries reporting losses while others show profitability[46]. Shareholder and Capital Management - The company has maintained a stable dividend policy, with a proposed payout ratio of 30% of net profit[13]. - The company has not proposed any profit distribution or capital reserve transfer for the half-year period[53]. - The company is committed to stabilizing stock prices and has made relevant promises to shareholders[54]. - The lock-up period for the company's holdings in Anhui Natural Gas shares will be extended by 6 months, totaling 42 months from the listing date[56]. - The company will initiate stock price stabilization measures if the stock price is below the latest audited net asset value for 20 consecutive trading days within three years of listing[57]. - Directors and senior management are encouraged to voluntarily increase their holdings, with a minimum amount equal to 10% of their previous year's total remuneration[59]. - The company has committed to fulfilling its obligations under the stock price stabilization plan, as confirmed by the controlling shareholder and management[61]. Related Party Transactions - The company reported a total of 121,630,000 RMB in expected related party transactions for 2020, with actual transactions amounting to 39,386,350 RMB in the first half of the year, representing approximately 32.4% of the expected amount[67]. - The company sold natural gas to related parties, with the highest expected transaction amount being 50,000,000 RMB from Tongling Ganghua Gas Co., with actual sales of 20,752,900 RMB, achieving 41.5% of the expected sales[66]. - The company’s total related party sales of natural gas and LNG amounted to 443,237,040 RMB, with significant contributions from various subsidiaries[69]. Accounting and Financial Reporting - The company adopted new revenue recognition standards effective January 1, 2020, impacting the accounting treatment of revenue and contracts[77]. - The company has not experienced any significant impact on its financial position or operating results due to the new accounting policy changes[79]. - The company’s financial results and cash flows were not materially affected by the reassessment of revenue recognition and measurement under the new accounting standards[79]. - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial status accurately[136]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial position, operating results, and cash flows of the entire corporate group[142]. Cash Flow and Liquidity - Cash and cash equivalents increased by 75.29% to CNY 693,537,634.70, mainly due to increased receipts from construction payments and reduced payments to upstream gas suppliers[39]. - The cash flow from operating activities for the first half of 2020 was CNY 337,059,857.13, an increase of 38.96% from CNY 242,424,281.64 in the first half of 2019[110]. - The company reported a net increase in cash and cash equivalents of CNY 197,340,930.14, compared to CNY 20,818,787.67 in the first half of 2019, reflecting improved liquidity[114]. Subsidiaries and Joint Ventures - The company has constructed and operated 22 long-distance pipelines, supplying natural gas to various cities including Hefei, Anqing, and Tongling[27]. - The company has established 6 CNG refueling stations in locations such as Hefei and Chizhou[27]. - The company established a joint venture with Zongyang County Investment Development Co., Ltd. to develop energy projects in Zongyang County[42]. - As of June 30, 2020, the company had a total of 19 subsidiaries, with varying ownership stakes, including 100% ownership in several subsidiaries[132]. Market Conditions - The natural gas production in China for the first half of the year was 94 billion cubic meters, a year-on-year increase of 10.3%[28]. - The company reduced gas prices by 10% for small and micro enterprises for three months to support them during the pandemic[33]. - Wuhu Natural Gas experienced a loss of 27.51 million, indicating a challenging market environment[46]. - Chizhou Natural Gas achieved a revenue of 1,078.28 million and a net profit of 80.59 million, showing positive performance[46]. - Lujian Natural Gas generated a revenue of 1,742.08 million with a net profit of 249.31 million, reflecting strong operational results[46].

Financial Performance - Operating revenue rose by 8.05% to CNY 1,172,707,894.07 year-on-year[6] - Net profit attributable to shareholders decreased by 23.97% to CNY 48,448,717.81 compared to the same period last year[6] - Basic earnings per share decreased by 26.32% to CNY 0.14[6] - The weighted average return on equity decreased by 0.92 percentage points to 2.18%[6] - Total operating revenue for Q1 2020 was ¥1,172,707,894.07, an increase of 8.06% compared to ¥1,085,341,877.31 in Q1 2019[23] - Net profit for Q1 2020 was ¥46,257,113.85, a decrease of 24.83% from ¥61,515,114.36 in Q1 2019[24] - Earnings per share for Q1 2020 was ¥0.14, down from ¥0.19 in Q1 2019[24] - The net profit for Q1 2020 was CNY 43,638,905.30, representing a decrease of 19.9% from CNY 54,495,777.87 in Q1 2019[26] - The operating profit for Q1 2020 was CNY 60,736,443.17, down 16.5% from CNY 72,790,870.93 in Q1 2019[26] Assets and Liabilities - Total assets increased by 3.55% to CNY 3,534,769,259.99 compared to the end of the previous year[6] - Total liabilities increased to ¥1,024,544,963.61 from ¥954,796,054.78 year-on-year[19] - Total assets as of March 31, 2020, amounted to ¥3,534,769,259.99, up from ¥3,413,537,112.12 at the end of 2019[19] - Total assets as of the end of Q1 2020 amounted to ¥2,641,154,268.15, compared to ¥2,564,414,325.95 at the end of Q1 2019[22] - Total liabilities for Q1 2020 were ¥435,683,383.86, an increase from ¥404,215,737.89 in Q1 2019[22] - Total current liabilities were approximately 222.49 million, with accounts payable at 90.88 million and accrued employee compensation at 4.87 million[39] - Total non-current liabilities stood at approximately 181.72 million, primarily driven by long-term borrowings of 179.07 million[39] - Total liabilities amounted to approximately 404.22 million, reflecting a manageable debt level[39] Cash Flow - Net cash flow from operating activities increased by 17.87% to CNY 227,786,523.86[6] - Net cash flow from financing activities improved to ¥51,110,566.15, compared to a negative cash flow of ¥49,143,707.97 in the previous year[13] - The cash flow from operating activities for Q1 2020 was CNY 227,786,523.86, an increase of 17.9% compared to CNY 193,259,294.05 in Q1 2019[31] - The net cash flow from financing activities for Q1 2020 was CNY 51,110,566.15, compared to a net outflow of CNY 49,143,707.97 in Q1 2019[31] - The cash inflow from operating activities was ¥1,175,246,988.21, compared to ¥1,137,814,427.74 in the same period last year, indicating a positive trend in operational cash generation[32] Shareholder Information - The total number of shareholders reached 18,876 at the end of the reporting period[9] - The largest shareholder, Anhui Energy Group Co., Ltd., holds 43.31% of the shares[10] - The company plans to increase its shareholding through a specific asset management plan, aiming to acquire no less than 3 million shares within six months[10] Other Financial Metrics - Non-recurring gains and losses amounted to CNY 41,726.11[9] - Cash and cash equivalents increased by 58.87% to ¥628,547,601.87 compared to ¥395,646,453.68 in the same period last year[13] - Prepayments decreased by 37.47% to ¥118,694,692.43 from ¥189,812,694.04 year-on-year[13] - Contract liabilities rose by 44.65% to ¥169,581,681.12, driven by increased gas sales and construction project prepayments[13] - Other income surged by 170.61% to ¥1,733,321.84, mainly due to increased value-added tax refunds[13] - Investment income increased by 171.26% to ¥216,872.94, attributed to interest from structured deposits[13] - Credit impairment losses rose significantly by 300.16% to ¥1,085,216.90, reflecting increased bad debt provisions[13] - The company reported a credit impairment loss of ¥1,085,216.90 in Q1 2020, compared to a gain of ¥542,187.09 in Q1 2019[23] - The company recorded an increase in investment income to CNY 1,243,413.54 in Q1 2020, compared to CNY 79,948.86 in Q1 2019[26] - The company’s research and development expenses for Q1 2020 were CNY 52,880.22, indicating ongoing investment in innovation[26] Liquidity Position - The company maintains a strong liquidity position with current assets significantly exceeding current liabilities[38] - The company reported a cash balance at the beginning of Q1 2020 of ¥395,646,453.68, which reflects a stable liquidity position[32] - Total cash and cash equivalents at the end of Q1 2020 reached ¥628,547,601.87, up from ¥534,478,624.52 at the end of Q1 2019, representing an increase of 17.6%[32]

Financial Performance - The company's operating revenue for 2019 was CNY 4,171,197,902.35, representing a 28.70% increase compared to CNY 3,240,975,796.32 in 2018[22]. - The net profit attributable to shareholders for 2019 was CNY 223,858,639.46, up 26.91% from CNY 176,389,325.12 in 2018[22]. - The net cash flow from operating activities for 2019 was CNY 319,471,040.38, an increase of 31.37% compared to CNY 243,175,364.93 in 2018[23]. - The total assets at the end of 2019 were CNY 3,413,537,112.12, an 8.06% increase from CNY 3,158,925,386.54 at the end of 2018[23]. - The basic earnings per share for 2019 was CNY 0.67, reflecting a 28.85% increase from CNY 0.52 in 2018[24]. - The weighted average return on equity for 2019 was 10.61%, an increase of 1.58 percentage points from 9.03% in 2018[24]. - The total profit for the year was 301 million RMB, marking a significant achievement in the company's financial performance[42]. - The company's operating revenue reached 4.171 billion RMB, representing a year-on-year increase of 28.70% compared to 3.241 billion RMB in the previous year[45]. - The company reported a net profit of CNY 63,726,347.42 in Q1 2019, with total revenue of CNY 1,085,341,877.31 for the same quarter[26]. - The net profit attributable to shareholders for Q4 2019 was CNY 58,962,590.83, with revenue of CNY 1,322,729,893.91[26]. Cash Flow and Investments - The company reported a net cash flow from operating activities of 319 million RMB, an increase of 31.37% from the previous year[45]. - The company’s investment activities resulted in a net cash outflow of 346 million RMB, reflecting ongoing expansion efforts[45]. - The company’s total cash inflow from investment activities decreased by 91.64% to 10.60 million RMB, primarily due to the maturity of financial products from the previous period[57]. - The company’s financing cash flow net amount decreased by 62.24% to -37.56 million RMB, mainly due to reduced borrowings[57]. - The company reported a cash dividend of RMB 2.1 per 10 shares, totaling RMB 70,560,000, which represents 31.52% of the net profit for 2019[86]. - The company plans to maintain a cash dividend policy where at least 80% of profits will be distributed as cash dividends during the mature stage without significant capital expenditure[81]. Assets and Liabilities - The company's net assets attributable to shareholders at the end of 2019 were CNY 2,201,413,886.72, an increase of 8.97% from CNY 2,020,197,827.52 at the end of 2018[23]. - The total liabilities rose to CNY 954,796,054.78 in 2019, compared to CNY 892,878,406.69 in 2018, indicating an increase of about 6.94%[180]. - The company's accounts receivable increased by 91.12% to ¥124,583,366.56, attributed to the growth in gas sales and changes in settlement cycles with major clients[59]. - Prepayments rose by 57.16% to ¥189,812,694.04, mainly due to increased gas purchase volumes[59]. - Inventory grew by 40.73% to ¥34,641,024.24, driven by increased construction activities and pipeline expansions[59]. Operational Highlights - The company achieved a total gas sales volume of 2.436 billion cubic meters in 2019, with long-distance transportation accounting for 2.229 billion cubic meters, CNG/LNG sales at 0.138 billion cubic meters, and city network sales at 0.321 billion cubic meters[42]. - The company invested in 22 long-distance pipelines, enhancing its gas supply capabilities across multiple cities in Anhui province[34]. - The company has secured gas distribution rights in several regions, including Suzhou and Huai'an, expanding its market presence[34]. - The company is focused on expanding its natural gas pipeline network to enhance service delivery[12]. - The company is positioned to benefit from the national push for natural gas as a cleaner energy source, aiming for a 10% share in primary energy consumption by 2020[38]. Risk Management - The company has outlined potential risks in its future development in the report[7]. - The company emphasizes the importance of investment risk awareness in its forward-looking statements[6]. - The company has identified risks related to market supply and demand, as well as price fluctuations in the natural gas sector[77]. Corporate Governance - The company has received a standard unqualified audit report from Rongcheng Accounting Firm[4]. - The company has committed to ensuring the accuracy and completeness of its financial reports[5]. - The company has confirmed that there are no violations of decision-making procedures in providing guarantees[7]. - The company has not disclosed any significant changes in shareholder structure or stock variations[9]. - The company has not reported any significant litigation or arbitration matters during the fiscal year 2019[100]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 21,270, an increase from 18,876 at the end of the previous month[119]. - Anhui Energy Group Co., Ltd. holds 43.31% of the company's shares, totaling 145,524,434 shares[121]. - Hong Kong and China Gas (Anhui) Co., Ltd. holds 20.61% of the shares, totaling 69,249,600 shares[121]. Employee and Management Structure - The total number of employees in the parent company is 458, while the main subsidiaries have 413 employees, resulting in a total of 871 employees[147]. - The professional composition includes 510 production personnel, 67 sales personnel, 100 technical personnel, 51 financial personnel, and 143 administrative personnel[147]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period, maintaining a consistent ownership structure[134]. - The management team includes individuals with extensive experience in various sectors, such as energy and finance, contributing to strategic decision-making[135].

Financial Performance - Net profit attributable to shareholders rose by 33.25% to CNY 164,896,048.63 for the first nine months of the year[6] - Operating revenue for the first nine months increased by 26.56% to CNY 2,848,468,008.44 compared to the same period last year[6] - Basic earnings per share increased by 32.43% to CNY 0.49 per share[6] - The weighted average return on equity improved by 1.51 percentage points to 7.89%[6] - Net profit for the first three quarters of 2019 was ¥216,906,269.40, compared to ¥152,809,789.96 in the same period of 2018, reflecting a growth of 42%[25] - The total profit for the first nine months of 2019 was CNY 221,473,741.15, compared to CNY 161,751,543.23 in the same period of 2018, representing a growth of approximately 36.9%[26] - The net profit attributable to shareholders of the parent company for Q3 2019 was CNY 49,483,024.12, compared to CNY 36,390,278.03 in Q3 2018, reflecting an increase of about 36.0%[27] - The total comprehensive income for Q3 2019 was CNY 48,346,285.14, compared to CNY 34,968,398.57 in Q3 2018, indicating an increase of approximately 38.2%[28] Assets and Liabilities - Total assets increased by 5.68% to CNY 3,338,223,099.43 compared to the end of the previous year[6] - Total assets as of September 30, 2019, reached CNY 3,338,223,099.43, an increase from CNY 3,158,925,386.54 at the end of 2018[17] - Total liabilities as of September 30, 2019, were ¥392,541,088.82, down from ¥428,872,230.63 in the previous year[24] - Total liabilities reached CNY 892,878,406.69, with current liabilities at CNY 471,960,826.53 and non-current liabilities at CNY 420,917,580.16[42] - The company’s total liabilities to equity ratio stands at approximately 39.4%[42] Cash Flow - Net cash flow from operating activities increased by 52.53% to CNY 397,225,648.00 year-to-date[6] - Cash flow from operating activities for the first three quarters of 2019 was ¥3.20 billion, an increase from ¥2.54 billion in the same period of 2018[34] - The net cash flow from operating activities for Q3 2019 was CNY 397,225,648, an increase of 52.5% compared to CNY 260,423,992 in Q3 2018[35] - Total cash inflow from operating activities for the first nine months of 2019 was CNY 2,835,007,399, up from CNY 2,315,517,179 in the same period of 2018, representing a growth of 22.4%[38] Shareholder Information - The total number of shareholders reached 21,632 as of the report date[10] - The largest shareholder, Anhui Energy Group, holds 43.31% of the shares[10] Investments and Expenses - Research and development expenses amounted to CNY 1,171,608.32, reflecting ongoing project expenditures[12] - Investment income dropped by 87.83% to CNY 160,891.62, due to reduced returns from financial products[12] - The company reported a significant increase in prepayments, totaling ¥96,840,700.40, compared to ¥119,803,976.09 in the previous year, indicating a strategic shift in cash flow management[22] Inventory and Receivables - Accounts receivable increased by 51.52% to CNY 98,770,749.55, primarily due to business growth[11] - Inventory rose by 36.68% to CNY 33,643,244.99, attributed to increased construction projects[11] - Construction in progress increased by 63.32% to CNY 304,918,198.22, reflecting higher investment in ongoing projects[11] Financial Ratios and Metrics - The company reported a gross profit margin of approximately 8.1% for Q3 2019, compared to 6.5% in Q3 2018[31] - The company incurred a tax expense of ¥13.51 million in Q3 2019, up from ¥10.59 million in Q3 2018[32]

Financial Performance - The company reported a total revenue of 1.2 billion CNY for the first half of 2019, representing a year-on-year increase of 15%[12]. - The net profit attributable to shareholders was 200 million CNY, an increase of 10% compared to the same period last year[12]. - The company's operating revenue for the first half of the year reached ¥1,943,442,020.38, representing a 25.2% increase compared to ¥1,552,255,441.94 in the same period last year[20]. - Net profit attributable to shareholders was ¥115,413,024.51, up 32.11% from ¥87,359,150.80 year-on-year[20]. - The net cash flow from operating activities increased significantly by 106.52%, amounting to ¥242,424,281.64 compared to ¥117,382,703.55 in the previous year[20]. - Basic earnings per share rose to ¥0.34, a 30.77% increase from ¥0.26 in the same period last year[21]. - The weighted average return on equity improved to 5.54%, an increase of 0.99 percentage points from 4.55% year-on-year[21]. - The company reported a net profit for the first half of 2019 of ¥112,406,354.92, representing a 40.1% increase from ¥80,170,797.72 in the previous year[92]. - The company reported a decrease in financial expenses, down to ¥2,532,489.40 from ¥4,968,027.19, a reduction of 49.1%[92]. Market Expansion and Strategy - The company plans to expand its market presence by launching three new gas supply projects in the next fiscal year, aiming for a 25% increase in market share[12]. - The company aims to increase the share of natural gas in primary energy consumption to around 10% by 2020 and 15% by 2030, indicating strong growth potential in the natural gas sector[31]. - The establishment of the National Oil and Gas Pipeline Company is expected to enhance competition in the downstream market and diversify gas supply sources[30]. - The company has identified potential risks related to regulatory changes in the energy sector, which may impact future operations[12]. Operational Developments - Research and development efforts have led to the introduction of a new gas pipeline technology, expected to reduce operational costs by 15%[12]. - The company has constructed and operated 22 long-distance pipelines, supplying natural gas to multiple cities including Hefei and Anqing[27]. - The company has established 6 CNG refueling stations in various locations, enhancing its service capabilities[27]. - The company sold a total of 1.162 billion cubic meters of gas during the reporting period, with long-distance transportation accounting for 1.062 billion cubic meters[35]. Financial Position and Assets - The company's total assets reached ¥3,228,817,057.92, up from ¥3,158,925,386.54 as of December 31, 2018[85]. - Current assets totaled ¥825,064,038.16 as of June 30, 2019, an increase of 7.67% from ¥766,325,973.13 on December 31, 2018[83]. - The company's equity attributable to shareholders was ¥2,089,955,258.91, an increase from ¥2,020,197,827.52 year-over-year[85]. - The company's total liabilities amounted to ¥896,019,316.27, a slight increase from ¥892,878,406.69 in the previous year[85]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 21,502[70]. - The largest shareholder, Anhui Energy Group Co., Ltd., held 145,524,434 shares, representing 43.31% of the total shares[73]. - The second largest shareholder, Hong Kong China Gas (Anhui) Co., Ltd., held 69,249,600 shares, accounting for 20.61%[73]. - The company has a commitment from its major shareholders not to transfer or manage their shares for 36 months post-IPO[49]. Risks and Challenges - The company faces risks including resource shortages, with natural gas consumption in Anhui province reaching 5.01 billion cubic meters, a 16.86% increase year-on-year[43]. - The company operates 22 long-distance pipelines, facing increased safety risks due to third-party construction activities[43]. - The company has reported a credit impairment loss of CNY 1,173,004.49, indicating potential challenges in asset quality[96]. Corporate Governance and Compliance - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6]. - The company has not proposed any profit distribution or capital reserve transfer for the half-year period[47]. - The company has maintained good integrity, with no outstanding court judgments or significant debts due[56]. - The company has not experienced any significant accounting errors that required restatement during the reporting period[68]. Cash Flow and Investments - Cash flow from operating activities totaled CNY 2,153,847,849.55, an increase of 24.6% compared to CNY 1,728,391,916.98 in the first half of 2018[98]. - Cash outflow from investing activities totaled CNY 35,709,626.75, down from CNY 192,234,872.81 in the previous year, reflecting reduced investment expenditures[103]. - The ending cash and cash equivalents balance was CNY 470,653,578.12, down from CNY 552,738,508.80 at the end of the first half of 2018[100]. Social Responsibility - The company donated RMB 50,000 to help Hujiakou Village develop poverty alleviation industries as part of its social responsibility efforts[66].

Financial Performance - Net profit attributable to shareholders increased by 47.92% to CNY 63,726,347.42 year-on-year[7] - Operating revenue rose by 34.5% to CNY 1,085,341,877.31 compared to the same period last year[7] - Basic earnings per share increased by 46.15% to CNY 0.19 compared to the previous year[7] - The weighted average return on equity improved by 0.82 percentage points to 3.10%[7] - The net profit after deducting non-recurring gains increased by 51.44% to CNY 63,245,385.23 year-on-year[7] - Operating revenue increased by 34.50% to CNY 1,085,341,877.31, driven by higher gas sales volume and average selling prices[13] - Operating profit for Q1 2019 was ¥83,967,261.82, up from ¥56,406,403.21 in Q1 2018, reflecting a growth of 48.8%[24] - Net profit for Q1 2019 was ¥61,515,114.36, compared to ¥38,722,862.59 in Q1 2018, representing a year-over-year increase of 58.7%[25] - Operating profit for Q1 2019 was CNY 72,790,870, an increase of 40.7% from CNY 51,688,675 in Q1 2018[27] - Net profit for Q1 2019 reached CNY 54,495,777, representing a 44.1% increase from CNY 37,800,298 in Q1 2018[27] Cash Flow - Net cash flow from operating activities surged by 106.62% to CNY 193,259,294.05 year-on-year[7] - Cash flow from operating activities surged by 106.62% to CNY 193,259,294.05, resulting from increased operating profit and customer prepayments[14] - Cash flow from operating activities for Q1 2019 was CNY 193,259,294, up 106.6% from CNY 93,531,923 in Q1 2018[30] - The net cash flow from operating activities for Q1 2019 was ¥134,487,754.66, compared to ¥43,196,863.78 in Q1 2018, reflecting a significant growth[32] - The company reported a net cash outflow from investing activities of CNY 69,063,888.61 in Q1 2019, an improvement from a net outflow of CNY 162,741,891.66 in Q1 2018[30] - The company experienced a net cash outflow from financing activities of CNY 49,143,707.97 in Q1 2019, compared to a net inflow of CNY 72,418,840.62 in Q1 2018[31] Assets and Liabilities - Total assets increased by 2.41% to CNY 3,235,045,020.52 compared to the end of the previous year[7] - The total assets increased to CNY 3,235,045,020.52 from CNY 3,158,925,386.54, indicating growth in the company's asset base[19] - Total liabilities decreased to ¥422,566,297.95 in Q1 2019 from ¥428,872,230.63 in Q4 2018, a reduction of 1.0%[23] - Non-current liabilities rose to CNY 448,048,368.84 from CNY 420,917,580.16, reflecting changes in long-term financial obligations[19] - Current assets increased to ¥617,110,755.07 in Q1 2019, compared to ¥543,442,929.41 in Q4 2018, marking a growth of 13.5%[22] Shareholder Information - The total number of shareholders reached 21,565 by the end of the reporting period[10] - The largest shareholder, Anhui Energy Group, holds 43.31% of the shares[10] Operating Costs and Expenses - Operating costs rose by 35.21% to CNY 973,611,913.35, primarily due to increased gas purchase volume and prices[13] - The company’s operating costs for Q1 2019 were ¥1,002,072,902.32, an increase of 33.1% from ¥752,293,057.56 in Q1 2018[24] - Total operating costs for Q1 2019 were CNY 924,183,084, an increase of 34.4% from CNY 687,201,602 in Q1 2018[27] - Financial expenses decreased significantly to CNY 316,160.62 in Q1 2019 from CNY 1,959,998.47 in Q1 2018[27] - Financial expenses decreased by 37.58% to CNY 1,789,109.39, mainly due to a reduction in short-term borrowings[13] Investment Income - Investment income skyrocketed by 923.35% to CNY 79,948.86, reflecting higher profits from joint ventures[14]

Financial Performance - The company's operating revenue for 2018 was approximately CNY 3.24 billion, representing a year-on-year increase of 26.07% compared to CNY 2.57 billion in 2017[23]. - The net profit attributable to shareholders for 2018 was approximately CNY 176.39 million, reflecting a 41.79% increase from CNY 124.40 million in 2017[23]. - The basic earnings per share for 2018 was CNY 0.52, up 36.84% from CNY 0.38 in 2017[25]. - The company's total assets at the end of 2018 were approximately CNY 3.16 billion, a 2.04% increase from CNY 3.10 billion at the end of 2017[24]. - The net cash flow from operating activities for 2018 was approximately CNY 243.18 million, an increase of 28.86% compared to CNY 188.71 million in 2017[24]. - The weighted average return on equity for 2018 was 9.03%, an increase of 1.97 percentage points from 7.06% in 2017[25]. - The company reported a total profit of 233 million RMB for the year[43]. - The company's revenue from natural gas sales reached ¥3,236,366,796.22, with a gross margin of 10.78%, reflecting a year-on-year increase of 1.73 percentage points[49]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 1.60 per 10 shares, totaling RMB 53,760,000 based on a total share capital of 336,000,000 shares as of the end of 2018[5]. - In 2017, the company distributed a cash dividend of 1.20 RMB per 10 shares, totaling 40,320,000 RMB[84]. - The company has a cash dividend policy that has been strictly followed since its listing, ensuring the protection of minority investors' rights[81]. - The company’s cash dividend distribution plan for 2018 is subject to approval at the annual shareholders' meeting[82]. Operational Highlights - The company achieved a total gas sales volume of 2.103 billion cubic meters in 2018, with revenue reaching 3.241 billion RMB, representing a year-on-year growth of 26.07%[43][44][46]. - The long-distance pipeline business accounted for 1.968 billion cubic meters of gas sales, while CNG/LNG sales contributed 116 million cubic meters, and urban network sales were 238 million cubic meters[44]. - The company operates nearly 80% of the total long-distance pipeline mileage in Anhui Province, establishing a comprehensive natural gas framework across the region[39]. - The company has established a dual gas supply structure, integrating resources from both western and northern pipelines to enhance supply reliability[40]. - The company has been actively expanding its CNG refueling stations, with six stations operational in various locations by the end of 2018[33]. Market and Industry Trends - In 2018, China's natural gas consumption continued to grow at a double-digit rate, driven by robust macroeconomic performance and stricter environmental regulations[34]. - The import of LNG reached 53.78 million tons in 2018, marking a 41% increase year-on-year, with the number of importing countries expanding from 22 to 26[37]. - The total natural gas consumption in China reached 273.9 billion cubic meters in 2018, with a year-on-year growth of 17.3%[62]. - Industrial gas consumption increased by 20% year-on-year, while power generation gas consumption rose by 23.4%[63]. - In 2019, China's natural gas consumption is expected to reach 308 billion cubic meters, a year-on-year increase of 11.4%[70]. Risk Management - The company has outlined potential risks in its future development in the discussion and analysis section of the report[7]. - The company emphasizes the importance of investor awareness regarding investment risks associated with forward-looking statements[6]. - The company has confirmed that there are no violations of decision-making procedures in providing guarantees[7]. - The company has experienced increased competition in pipeline investment, with more entities participating in the construction of trunk pipelines[79]. - The company anticipates a continued tight supply of natural gas over the next three to four years due to domestic production limitations and infrastructure challenges[79]. Governance and Compliance - The company has received a standard unqualified audit report from Huapu Tianjian Accounting Firm[5]. - The company has not reported any significant accounting errors or changes in accounting policies during the reporting period[93]. - The company has committed to accept supervision from regulatory authorities and investors regarding the implementation of stock price stabilization measures[91]. - The company has not encountered any situations that would lead to a suspension or termination of its listing[95]. - The company has established a governance structure consisting of the board of directors, supervisory board, shareholders' meeting, and management, ensuring clear responsibilities and regulatory compliance[165]. Shareholder Information - The company has a commitment to maintain a stable stock price, with measures in place to buy back shares if certain conditions are met[88]. - The controlling shareholder, Anhui Energy Group Co., Ltd., committed to fully and effectively fulfill its obligations under the stock price stabilization plan[92]. - The company plans to repurchase shares if the controlling shareholder accumulates a 5% increase in shareholding over 12 months and the stock price meets the repurchase conditions[90]. - The company’s board members and senior management are encouraged to voluntarily increase their holdings, with a minimum increase amounting to 10% of their previous year's total remuneration[90]. - The largest shareholder, Hong Kong China Gas (Anhui) Co., Ltd., holds 69,249,600 shares, representing 20.61% of the total share capital[123]. Employee and Management Structure - The total number of employees in the parent company is 436, while the total number of employees in major subsidiaries is 396, resulting in a combined total of 832 employees[160]. - The professional composition includes 494 production personnel, 49 sales personnel, 81 technical personnel, 49 financial personnel, and 159 administrative personnel, reflecting a diverse skill set[160]. - The remuneration for directors, supervisors, and senior management is determined by the shareholders' meeting and the board of directors, ensuring alignment with company performance[157]. - The company has implemented a salary adjustment policy based on business performance and employee performance evaluations, aiming to enhance employee satisfaction[161]. Future Outlook - The company plans to sell approximately 2.25 billion cubic meters of gas in 2019, with projected revenue of around 3.7 billion yuan[77]. - The company is focusing on diversifying its operations by developing a "natural gas+" ecosystem, including LNG trading and oil products[76]. - The company plans to enhance its safety production goals, aiming for eight safety control indicators to be met[77]. - The company is committed to increasing domestic exploration and development investments to achieve a natural gas production target of over 200 billion cubic meters by the end of 2020[73].

2018 年第三季度报告 1 / 22 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 10 | 2018 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 公司负责人贾化斌、主管会计工作负责人朱亦洪及会计机构负责人（会计主管人员）牛景义 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。 公司代码：603689 公司简称：皖天然气 安徽省天然气开发股份有限公司 2018 年第三季度报告 二、 公司基本情况 2.1 主要财务数据 3 / 22 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 3,099,983,201.85 3,095,653,248.89 0.14 归属于上市公司 股东的净资 ...