Financial Performance - In 2021, the company achieved a net profit of RMB 76,846,863.10, with a cumulative distributable profit of RMB 39,436,036.95 after accounting for retained earnings and surplus reserves[5]. - The total revenue for 2021 was RMB 12,607,623,861.14, representing a year-on-year increase of 2.30% compared to RMB 12,324,332,515.13 in 2020[23]. - The net profit attributable to shareholders of the listed company was RMB 45,361,703.30, a significant recovery from a loss of RMB 691,187,914.09 in the previous year, marking a 106.56% increase[23]. - The net cash flow from operating activities reached RMB 2,595,438,768.04, a substantial increase of 239.10% from RMB 765,384,452.56 in 2020[24]. - Total assets at the end of 2021 amounted to RMB 32,482,875,023.80, reflecting a 3.20% increase from RMB 31,477,175,149.35 at the end of 2020[24]. - The company's net assets attributable to shareholders were RMB 3,593,991,572.37, showing a slight decrease of 0.72% from RMB 3,619,936,550.86 in 2020[24]. - Basic earnings per share increased to CNY 0.03 from a loss of CNY 0.64 in the previous year, representing a 104.69% improvement[25]. - The weighted average return on equity improved to 1.05% from -17.43% year-on-year, an increase of 18.48 percentage points[25]. - The company reported a total operating revenue of CNY 5,935,795,732.98 in Q4 2021, with a net profit of CNY 138,011,642.06 attributable to shareholders[29]. Revenue and Growth Strategies - The company reported a significant increase in revenue from core business activities, with a net operating revenue of RMB 10,748,477,294.60, up 4.44% from the previous year[23]. - The company achieved operating revenue of 12.61 billion RMB in 2021, an increase of 2.30% compared to the previous year[49]. - The company provided a positive outlook for 2022, projecting a revenue growth of 20% to 1.44 billion[105]. - New product launches are expected to contribute an additional 200 million in revenue in 2022[105]. - Market expansion plans include entering two new regions, which are projected to increase market share by 10%[105]. - The company is considering strategic acquisitions to enhance its product portfolio, with a target of 300 million in potential acquisitions[105]. Operational Efficiency and Cost Management - The company implemented a series of cost reduction and efficiency enhancement measures, including financial management improvements and budget management, aiming to lower controllable costs throughout the year[39]. - The total cost of raw materials for the current period is ¥9,754,848,297.17, a decrease of 4.26% compared to the previous year's ¥10,188,651,233.71[58]. - Operating expenses were controlled at 300 million, reflecting a 5% reduction from 2020[105]. - The company is focused on enhancing governance levels and implementing corrective measures to improve internal management[154]. Market and Industry Position - The company is focusing on enhancing its resource procurement and pricing power in response to market reforms and increasing competition in the gas industry[36]. - The company aims to improve resource allocation efficiency by integrating various gas sources, including domestic and international supplies[36]. - The company is actively exploring new gas sources to ensure supply stability, including cooperation with major oil companies[47]. - The company is focusing on expanding its market presence by leveraging its regional mid-pressure ring network to enhance terminal market development[38]. Risk Management and Compliance - The company has outlined potential risks in its report, advising investors to be aware of investment risks associated with future plans and strategies[7]. - The company faces risks including policy shifts towards clean energy, increased market competition, and safety production risks related to gas supply[93]. - The company has established a governance structure that complies with relevant laws and regulations, ensuring the protection of shareholder rights[95]. - The company has implemented a compliance management system across its subsidiaries to enhance control capabilities[97]. Corporate Governance and Management - The board of directors consists of 11 members, including 4 independent directors, and has held 9 meetings during the reporting period[96]. - The company has a diverse board with a mix of independent and non-independent directors, ensuring a balanced governance structure[102]. - The total compensation for Liu Liantao, the Vice Chairman and General Manager, was 30.76 million CNY for the reporting period[102]. - The company has implemented a robust rural assistance program, focusing on poverty alleviation and rural revitalization, including activities like consumer support for agricultural products[164]. Sustainability and Social Responsibility - The company emphasizes environmental protection and has adopted measures to reduce carbon emissions, playing a significant role in the transition to a low-carbon economy[159]. - The company is dedicated to fulfilling its social responsibilities, including ensuring gas supply for residents and supporting poverty alleviation efforts[160]. - The company is committed to maintaining the "Four No Deductions" policy during the transition period to prevent poverty rebound, ensuring essential needs are met for villagers[164]. Future Outlook - The company provided guidance for the next fiscal year, expecting revenue growth of 10% to 12%[107]. - The company is actively monitoring international energy price trends to mitigate risks associated with price volatility[85]. - Overall, the company remains optimistic about future growth, citing strong demand and a robust product pipeline[107].

Financial Performance - The company's operating revenue for the first half of 2021 was approximately CNY 4.66 billion, representing a 6.50% increase compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company reached approximately CNY 31.29 million, a significant turnaround from a net loss of CNY 278.52 million in the previous year, marking an increase of 111.23%[19]. - The net cash flow from operating activities increased by 200.06% to approximately CNY 1.09 billion, driven by higher cash receipts from sales of goods and services[19]. - Basic earnings per share for the first half of 2021 were CNY 0.02, a significant improvement from a loss of CNY 0.26 per share in the same period last year, reflecting an increase of 107.69%[20]. - The weighted average return on net assets improved to 0.84%, an increase of 8.47 percentage points compared to the previous year[20]. - Operating costs decreased by 1.47% to approximately ¥3.70 billion from ¥3.76 billion, primarily due to a reduction in the procurement price of natural gas[39]. - The company reported a significant reduction in non-recurring losses, decreasing from approximately 431.39 million RMB to 186.44 million RMB, a 56.78% improvement[109]. Assets and Liabilities - The total assets at the end of the reporting period were approximately CNY 27.82 billion, a slight decrease of 0.16% compared to the end of the previous year[19]. - The net assets attributable to shareholders of the listed company increased by 35.92% to approximately CNY 4.10 billion[19]. - Total liabilities decreased to CNY 23.29 billion from CNY 24.65 billion, a reduction of about 5.5%[114]. - Short-term borrowings decreased significantly to CNY 4.78 billion from CNY 6.49 billion, a decline of approximately 26.3%[114]. - The company's total liabilities at the end of the reporting period are CNY 3,805,842,066.17, reflecting a manageable debt level[137]. Market and Operational Strategy - The increase in operating revenue was primarily attributed to a rise in natural gas sales volume during the reporting period[21]. - The company aims to achieve a coal-derived gas production target of 20 billion cubic meters by 2022, positioning itself as a national unconventional natural gas base[29]. - The company is focused on expanding its market presence through a professional urban gas management platform, enhancing its market cultivation capabilities[31]. - The company is actively pursuing external collaborations with entities such as PetroChina and Snam to explore opportunities in oil and gas resource development and energy transition[36]. - The company is focusing on enhancing its market share and brand effect within Shanxi Province by prioritizing the acquisition of gas operating licenses[34]. Environmental and Safety Measures - The company is actively implementing environmental protection measures, including pollution prevention and resource conservation strategies[55]. - The company has committed to reducing carbon emissions by engaging in industry and government research on emission reduction policies[59]. - The company has implemented measures to prevent noise pollution and manage solid waste effectively during construction activities[57]. - The company plans to enhance safety management and emergency response mechanisms to address risks associated with pipeline operations[48]. - The company is committed to maintaining pandemic prevention measures to ensure stable production and operations amid potential COVID-19 outbreaks[48]. Corporate Governance and Compliance - The company did not distribute profits or increase capital reserves during this reporting period[4]. - There were significant changes in the board of directors, including the election of two new directors and the resignation of several key executives[52]. - The company has not disclosed any new significant related party transactions during the reporting period[72]. - The company has not received any penalties or corrective actions related to violations of laws or regulations during the reporting period[71]. - The company is committed to transparency and compliance, as evidenced by its adherence to regulatory requirements during capital increases and acquisitions[144]. Shareholder and Capital Structure - The company issued 293,330,434 new shares to its controlling shareholder, Huaxin Gas Group, as part of a private placement[83]. - The total number of shares after the issuance is 1,377,994,126, with the new shares representing 21.29% of the total[81]. - The top shareholder, Huaxin Gas Group Co., Ltd., holds 636,526,026 shares, representing 46.19% of the total shares, with 293,330,434 shares being subject to a lock-up period until March 4, 2024[89]. - The company has no significant changes in shareholder structure or stock changes during the reporting period[80]. - The company completed a private placement of 293,330,434 shares, resulting in a change in basic and diluted earnings per share from -0.70 CNY to -0.57 CNY, and a decrease in net asset value per share from 2.78 CNY to 2.27 CNY[84]. Financial Instruments and Accounting Policies - The company classifies financial assets into three categories: those measured at amortized cost, those measured at fair value with changes recognized in other comprehensive income, and those measured at fair value with changes recognized in profit or loss[182]. - Financial assets measured at amortized cost include cash, receivables, and loans, which are recognized using the effective interest method[183]. - The company recognizes interest income on financial assets based on their amortized cost multiplied by the effective interest rate, except for credit-impaired assets[183]. - Financial liabilities are classified at initial recognition based on the contractual terms and economic substance, not just legal form[188]. - The company ensures that all accounting treatments for joint ventures comply with relevant accounting standards, maintaining transparency and accuracy in financial reporting[177].

Financial Performance - Revenue for the first quarter was ¥3.01 billion, representing a year-on-year growth of 5.44%[6]. - Net profit attributable to shareholders of the listed company was ¥78.72 million, a turnaround from a loss of ¥45.45 million in the same period last year, marking a growth of 273.22%[6]. - Basic earnings per share for the period was ¥0.0726, compared to a loss of ¥0.0419 in the previous year, reflecting an increase of 273.27%[6]. - Total operating revenue for Q1 2021 was CNY 3,011,065,812.60, an increase of 5.4% compared to CNY 2,855,653,308.98 in Q1 2020[22]. - Total operating costs for Q1 2021 were CNY 2,980,770,799.63, a decrease of 0.5% from CNY 2,995,840,425.54 in Q1 2020[22]. - Net profit for Q1 2021 was CNY 34,593,490.12, compared to a net loss of CNY 72,752,244.38 in Q1 2020, representing a significant turnaround[23]. - The company reported an operating profit of CNY 103,250,220.78 in Q1 2021, compared to an operating loss of CNY 40,456,991.12 in Q1 2020[23]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥27.90 billion, a slight increase of 0.13% compared to the end of the previous year[6]. - Total liabilities decreased from CNY 24,647,359,025.88 in Q1 2020 to CNY 23,581,429,291.04 in Q1 2021, a reduction of approximately 4.3%[19]. - Total assets increased from CNY 6,294,221,966.94 in Q1 2020 to CNY 9,337,324,065.17 in Q1 2021, representing a growth of approximately 48.4%[21]. - Current liabilities decreased from CNY 12,670,748,103.48 in Q1 2020 to CNY 11,976,427,126.50 in Q1 2021, a decline of about 5.5%[19]. - Non-current liabilities decreased from CNY 11,976,610,922.40 in Q1 2020 to CNY 11,605,002,164.54 in Q1 2021, a decrease of approximately 3.1%[19]. - The company reported a total of CNY 1,940,009,187.88 in other payables in Q1 2021, compared to CNY 157,962,848.33 in Q1 2020, indicating a significant increase[21]. Cash Flow - Operating cash flow net amount for the period was ¥413.24 million, a significant increase of 244.09% compared to the same period last year[6]. - Cash inflow from operating activities for Q1 2021 was CNY 2,342,304,348.98, an increase from CNY 2,117,328,934.21 in Q1 2020[29]. - Cash outflow from operating activities totaled CNY 1,929,061,169.17 in Q1 2021, compared to CNY 2,404,121,065.67 in Q1 2020[29]. - Net cash flow from operating activities was CNY 413,243,179.81, a significant improvement from a negative CNY 286,792,131.46 in Q1 2020[29]. - Cash flow from investing activities was negative CNY 128,013,167.87, an improvement from negative CNY 191,660,767.32 in Q1 2020[30]. - Cash flow from financing activities was negative CNY 547,305,446.13, compared to positive CNY 1,214,196,068.08 in Q1 2020[30]. Shareholder Information - The total number of shareholders at the end of the reporting period was 38,634[10]. - The top shareholder, Huaxin Gas Group Co., Ltd., held 46.19% of the shares, totaling 636,526,026 shares[10]. - The company reported a total equity of CNY 6,260,209,072.64 in Q1 2021, up from CNY 5,231,402,105.13 in Q1 2020, showing improved shareholder value[22]. Expenses and Investments - Research and development expenses grew by 194.06% to CNY 2,259,292.66 from CNY 768,303.74[11]. - Investment income improved by 75.51%, with losses reduced to CNY -3,406,809.37 from CNY -13,912,131.09[11]. - The company reported non-recurring gains and losses totaling ¥58.28 million for the period[9]. - Financial expenses for Q1 2021 were CNY 215,743,433.08, a decrease from CNY 244,676,741.85 in Q1 2020, reflecting improved cost management[22].