Financial Performance - The company's operating revenue for the first half of 2021 was CNY 3,974,313,232.76, a decrease of 18.57% compared to CNY 4,880,802,800.20 in the same period last year[23]. - Net profit attributable to shareholders was CNY 342,210,616.24, representing a 35.45% increase from CNY 252,653,974.58 year-on-year[23]. - The net profit after deducting non-recurring gains and losses was CNY 334,340,865.87, up 40.80% from CNY 237,451,010.50 in the previous year[23]. - The net cash flow from operating activities was CNY 169,639,060.62, down 80.59% from CNY 874,148,719.00 in the same period last year[23]. - Basic and diluted earnings per share were both CNY 0.3077, an increase of 35.43% compared to CNY 0.2272 in the previous year[23]. - The weighted average return on equity was 5.41%, up from 4.04% year-on-year, indicating improved profitability[23]. - Total assets at the end of the reporting period were CNY 13,026,790,664.06, a decrease of 2.19% from CNY 13,319,110,620.07 at the end of the previous year[23]. - Net assets attributable to shareholders increased by 3.00% to CNY 6,332,710,313.25 from CNY 6,147,979,726.61 at the end of the previous year[23]. Revenue and Sales - The company achieved natural gas sales volume of 3.567 billion cubic meters, representing a year-on-year increase of 10.4%[38]. - The company reported operating revenue of 3.974 billion yuan, a decrease of 18.57% year-on-year, attributed to changes in purchasing and sales models due to upstream and downstream direct signing policies[38]. - The company reported a maximum monthly increase in long-distance pipeline gas transmission volume of 20% and a maximum monthly increase in urban gas sales volume of 28%[38]. - The company achieved a 40.2% year-on-year increase in installation revenue and a 6.4% increase in value-added business income[38]. Investments and Acquisitions - The company expanded its market presence by acquiring a 51% stake in Meixian Changtong and signed gas supply cooperation framework agreements with four key industrial users[38]. - The company completed 112% of its planned fixed asset investment projects, a 31 percentage point increase year-on-year[39]. - The company has raised a total of CNY 20.59 billion through equity financing and CNY 60 billion through various debt instruments since its listing, demonstrating strong financing capabilities[48]. - The company completed a significant equity investment in Meixian Changtong Gas Co., Ltd. for ¥5,714,500.00, acquiring a 51% stake[68]. Operational Efficiency - The company reduced inventory by 14.42 million yuan, achieving a 12.17 percentage point improvement compared to the same period last year[39]. - The company has established a gas pipeline network covering all 11 cities in Shaanxi Province, with a total length of approximately 3,769 kilometers and an annual gas transmission capacity of 16.5 billion cubic meters[43]. - The company has built 8 CNG refueling stations in Shaanxi to provide stable gas supply for areas not covered by long-distance pipelines[43]. - The company has undertaken 24 technology projects and obtained 11 patent authorizations during the reporting period, indicating strong innovation capabilities[47]. Risk Management and Compliance - The management highlighted the importance of monitoring investment risks due to uncertainties in future planning and development strategies[3]. - The company has maintained a 100% safety training coverage rate and has not experienced any major safety incidents since its establishment[47]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[105]. - The company has not faced any major litigation or arbitration matters during the reporting period[109]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[4]. - The company has maintained a stable growth in performance, distributing dividends of 0.2 CNY per share, totaling 2.38 billion CNY in cash dividends since its listing in 2008[101]. - The company’s major shareholder, Shaanxi Gas Group, holds 55.36% of the shares, with no changes during the reporting period[176]. - The total number of ordinary shareholders at the end of the reporting period was 26,849, with no significant changes noted[176]. Environmental and Social Responsibility - The company is committed to green development and has implemented measures to prevent pollution, maintaining a stable environmental compliance status[97]. - The company has connected 3,720 households to natural gas, including 1,914 impoverished households, as part of its poverty alleviation efforts[102]. - During the pandemic, the company donated 182,600 CNY for COVID-19 prevention efforts and implemented strict health measures to ensure employee safety while maintaining gas supply[101]. Future Outlook - The company is positioned to benefit from national clean energy strategies, with natural gas consumption expected to grow significantly in the coming years[41]. - The company aims to leverage the "coal-to-gas" initiative and urbanization policies to drive future growth in natural gas demand in Shaanxi Province[46]. - The company is actively exploring new gas sources, including Sinopec's Sichuan Northeast Gas Field and Zhenba Gas Field, to reduce reliance on major suppliers[82]. - The company plans to accelerate mergers and acquisitions of urban gas companies to integrate the gas market along pipeline routes[84].

Financial Performance - The company's operating revenue for Q1 2021 was CNY 2,629,669,681.64, representing a decrease of 25.23% compared to the same period last year[7]. - Net profit attributable to shareholders was CNY 328,874,921.83, an increase of 11.37% year-on-year[7]. - Basic and diluted earnings per share were both CNY 0.2957, reflecting an increase of 11.37% from the previous year[7]. - The company achieved a sales volume of 2.432 billion cubic meters, representing a year-on-year increase of 8.19%[23]. - Total operating revenue for Q1 2021 was CNY 2,629,669,681.64, a decrease of approximately 25.3% compared to CNY 3,516,862,614.71 in the same period last year[53]. - Net profit for the first quarter reached CNY 341,077,728.55, representing an increase of 10.35% from CNY 309,048,665.34 year-over-year[57]. - Earnings per share (EPS) for the first quarter was CNY 0.2957, up from CNY 0.2655 in the previous year, indicating a growth of 16.00%[59]. - Operating profit for the quarter was CNY 395,173,070.32, up from CNY 358,822,660.23, reflecting an increase of 10.11%[57]. - The total comprehensive income for the first quarter was approximately CNY 309.45 million, compared to CNY 260.08 million in the previous year, representing an increase of about 19%[64]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 21.92% to CNY 437,862,661.38 compared to the previous year[7]. - Cash inflow from operating activities totaled CNY 2.49 billion, down from CNY 3.51 billion in the previous year, indicating a decrease of about 29%[67]. - Cash outflow from operating activities was CNY 2.06 billion, compared to CNY 2.95 billion in the previous year, a decrease of approximately 30%[67]. - The ending cash and cash equivalents balance was CNY 1.05 billion, down from CNY 886.59 million in the previous year, reflecting an increase of about 18%[68]. - The company reported a net decrease in cash and cash equivalents of 10.608 million RMB, a significant decline of 747.15% due to reduced cash receipts from sales[23]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 13,319,827,997.14, showing a slight increase of 0.01% from the end of the previous year[7]. - The company's total liabilities decreased to CNY 6,524,249,032.97 from CNY 6,916,540,299.86, representing a reduction of about 5.7%[47]. - The total equity attributable to shareholders increased to CNY 6,527,096,927.92 from CNY 6,147,979,726.61, reflecting a growth of approximately 6.2%[47]. - The total current liabilities decreased to CNY 5,005,088,395.80 from CNY 5,189,051,084.80, a reduction of approximately 3.5%[47]. - The company's non-current liabilities totaled CNY 1,519,160,637.17, down from CNY 1,727,489,215.06, a decrease of about 12.1%[47]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 31,258, with the largest shareholder holding 55.36%[14]. - Net assets attributable to shareholders increased by 6.17% to CNY 6,527,096,927.92[7]. Expenses and Investments - Research and development expenses decreased by 57.50% to 233.59 million RMB, indicating a reduction in investment in this area[23]. - Financial expenses decreased to CNY 25,758,081.16 from CNY 27,765,233.37, a decline of 7.22%[60]. - Investment income increased significantly to CNY 34,331,412.52, compared to CNY 20,761,924.98 in the same quarter last year, marking a growth of 65.00%[62]. Other Income and Subsidies - The company reported government subsidies of CNY 15,811,644.93 during the reporting period[7]. - The company recognized a 914.50% increase in other income, totaling 1.581 billion RMB, primarily from winter natural gas supply subsidies[23].

Financial Performance - The company's operating revenue for 2020 was ¥8,195,788,686.41, a decrease of 15.93% compared to ¥9,582,081,343.77 in 2019[19] - The net profit attributable to shareholders of the listed company was ¥356,561,007, down 21.79% from ¥446,974,452 in 2019[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 327,390,604.99, a decrease of 26.55% compared to the previous year[23] - The net cash flow from operating activities was CNY 998,271,102.73, down 45.20% year-on-year[23] - Basic and diluted earnings per share were both CNY 0.3206, reflecting a decline of 21.80% from the previous year[23] - Total assets increased by 6.65% to CNY 13,319,110,620.07 at the end of 2020[23] - The net assets attributable to shareholders rose by 0.30% to CNY 6,147,979,726.61[23] - The main business revenue decreased by 15.90% year-on-year, primarily due to a shift from natural gas sales to pipeline transportation services[51] - The total revenue for 2020 was significantly impacted, with a net cash flow from operating activities decreasing by 45.20% to ¥998,271,102.73 compared to ¥1,821,724,835.72 in 2019[67] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥2.00 per 10 shares (including tax) based on a total of 1,112,075,445 shares[4] - The proposed cash dividend for 2020 remains at 2.00 CNY per 10 shares, with an expected total distribution of 222,415,089.00 CNY[100] - The cash dividend payout ratio for 2020 is 62.38% of the net profit attributable to shareholders[103] - The company has maintained a consistent dividend policy over the past three years without issuing new shares or capital reserve transfers[99] - The company distributed a total dividend of 222 million yuan at a rate of 0.2 yuan per share for the 2019 fiscal year, marking 11 consecutive years of cash dividends totaling 2.159 billion yuan since its listing in 2008[165] Business Operations and Expansion - In 2020, the company constructed and operated 47 natural gas pipelines with a total length of 3,769 kilometers, achieving an annual gas transmission capacity of 16.5 billion cubic meters[33] - The company expanded its urban gas business, building over 2,000 kilometers of medium and high-pressure gas pipelines and serving over 600,000 users[33] - The market coverage rate reached 32.71% after acquiring stakes in Weinan Natural Gas and other companies[33] - The company transitioned its long-distance pipeline operation model to a mixed model of unified purchase and sales plus transportation services[33] - The company has established a gas pipeline network covering 11 cities in Shaanxi, with a total pipeline length of approximately 3,769 kilometers and an annual gas transmission capacity of 16.5 billion cubic meters[40] - The company has invested in multiple subsidiaries to engage in urban gas business across 8 districts and 27 counties, achieving a coverage rate of 32.71% in Shaanxi province[40] - The company completed the acquisition of 51% equity in Weinan Natural Gas in April 2020 and integrated two city gas companies, enhancing its market presence[47] - The company is focusing on mergers and acquisitions to expand its market presence and enhance its industry position[90] Financial Management and Investments - The company raised a total of 2.059 billion yuan through equity financing and 5.5 billion yuan through debt financing tools, demonstrating strong financing capabilities[46] - The company has restricted cash amounting to ¥16,249,291.52, which accounts for 0.122% of total assets[73] - The company is currently undertaking several major non-equity investments, with a total investment of ¥390,105,011.91 reported for various gas supply projects[81] - The company has a financing lease of CNY 1 billion for gas storage and peak-shaving pipeline assets, with a term of 36 months[153] - The total amount of entrusted loans during the reporting period was CNY 60 million, with an outstanding balance of CNY 30 million[157] Regulatory Compliance and Governance - The company operates under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council[17] - The company is in compliance with all regulatory requirements and is committed to maintaining investor interests[110] - The company has no penalties or rectification issues during the reporting period[123] - The company has no stock incentive plans or employee shareholding plans in place during the reporting period[125] - The audit firm Sigma CPA has been retained for one year with an audit fee of 950,000 RMB, including 660,000 RMB for annual report audit and 290,000 RMB for internal control audit[117] Social Responsibility and Community Engagement - The company invested over 38 million yuan in poverty alleviation projects in the Yan'an region, aiming to support the local economy and assist in poverty reduction efforts[169] - The company allocated 210 million yuan for infrastructure and tourism projects in Yanchuan County, contributing to local development and poverty alleviation[172] - The company established a mother and baby care room and a love care class to support employees, addressing their concerns during the pandemic[167] - The company donated 182,600 yuan for COVID-19 prevention efforts, demonstrating its commitment to social responsibility during the pandemic[168] - The company has received multiple awards for its poverty alleviation efforts, including recognition as an "Outstanding First Secretary" and "Advanced Individual in Poverty Alleviation Work" for 2019[175] Future Outlook and Strategic Goals - The company aims to expand its resource advantages during the 14th Five-Year Plan period, supported by multiple policies promoting clean energy development and environmental governance[36] - The company plans to sell (transport) 6.215 billion cubic meters of gas in 2021, aiming for a revenue of 7 billion yuan and a total profit of 500 million yuan[91] - The company is focused on maintaining a robust financial position while exploring new strategies for growth and development in the natural gas sector[161] - The company anticipates potential adjustments in gas pipeline transportation prices, which may impact profitability but could also stimulate user demand[92] - The company is committed to ongoing research and development of new technologies in the natural gas sector[131]

陕西省天然气股份有限公司 2020 年第三季度报告 2020 年 10 月 om co 陕西省天然气股份有限公司 2020 年第三季度报告全文 第一节 重要提示 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人刘宏波、主管会计工作负责人任妙良及会计机构负责人(会计主 管人员)王艳声明：保证季度报告中财务报表的真实、准确、完整。 2 陕西省天然气股份有限公司 2020 年第三季度报告全文 会计政策变更的原因及会计差错更正的情况 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 √ 是 □ 否 追溯调整或重述原因 会计政策变更;同一控制下企业合并 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------------------------|-------------------|--- ...

Financial Performance - The company's operating revenue for the first half of 2020 was ¥4,880,802,800.20, a decrease of 6.11% compared to the same period last year[20] - The net profit attributable to shareholders was ¥252,653,974.58, representing an increase of 10.57% year-on-year[20] - The net cash flow from operating activities was ¥874,148,719.00, down by 5.01% from the previous year[20] - Basic earnings per share were ¥0.2272, reflecting a growth of 10.56% compared to the same period last year[20] - The net profit after deducting non-recurring gains and losses was ¥237,451,010.50, an increase of 6.08% year-on-year[20] - The total sales of natural gas reached 3.264 billion cubic meters, a year-on-year decrease of 2.21%[48] - The operating revenue was 4.881 billion yuan, a year-on-year decrease of 6.11%[48] - The net profit attributable to shareholders was 253 million yuan, an increase of 10.57% year-on-year[48] - The company’s investment income was 13,380,010.05 yuan, a 216.50% increase compared to the previous year[54] - The company’s operating cash flow net amount was 873,988,719.00 yuan, a decrease of 5.02% year-on-year[54] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥12,751,655,432.30, an increase of 2.11% from the end of the previous year[20] - The company's net assets attributable to shareholders were ¥6,065,679,768.65, a decrease of 1.04% compared to the end of the previous year[20] - The company's fixed assets decreased by CNY 15,207,000, a reduction of 2.04%, primarily due to depreciation and the commissioning of new pipelines[34] - The company's fixed assets amounted to ¥7,310,552,622.38, representing 57.33% of total assets, a decrease of 2.84% from the previous period[65] - The long-term equity investment increased to ¥688,137,753.51, reflecting a growth of 5.40% compared to ¥641,278,443.64 in the previous period[65] - The short-term loans decreased to ¥996,000,000.00, accounting for 7.81% of total liabilities, down by 2.99% from the previous period[65] Acquisitions and Investments - The company acquired a 51% stake in Weinan Natural Gas Co., Ltd., which was included in the consolidated financial statements from April 9, 2020[21] - The company successfully acquired a 51% stake in Weinan Natural Gas, expanding its urban gas market coverage to 32.71% across 107 districts and counties in Shaanxi Province[32] - The total investment amount for the reporting period was ¥300,643,763.19, a decrease of 33.99% compared to ¥455,450,800.00 in the same period last year[67] - The cumulative actual investment for the gas pipeline project reached ¥54,098,180.00, with a project progress of 66.77%[79] Operational Efficiency - The company has reduced costs by 9.35% year-on-year through efficiency improvements and budget execution analysis[51] - Main business costs amounted to 4,390,774,939.63 yuan, down 6.13% year-on-year[54] - Financial expenses decreased by 32.62% to 55,071,794.86 yuan due to a reduction in interest-bearing debt and financing costs[54] - The company achieved a main business revenue of 4,880,802,800.20 yuan, a decrease of 6.11% compared to the same period last year[54] Legal and Compliance Issues - The company is actively pursuing the collection of overdue payments from Xilan Company, with a total amount of 138.06 million yuan involved in litigation[106] - The company has been involved in multiple legal disputes, including a claim for 1,020 million yuan against Send Mining for compensation, which is currently under appeal[112] - The company has faced a total arbitration claim of 28.872124 million yuan from Shaanxi Gaoke due to contract violations, with a court ruling requiring payment of 11.7446 million yuan plus interest[113] - The company is pursuing legal action to recover assets from Send Mining, which has refused to deliver compensation for damages[112] Related Party Transactions - The company reported a total related party transaction amount of 86,088.58 thousand yuan, accounting for 20.63% of similar transaction amounts[127] - The company engaged in the purchase of natural gas from Shaanxi Yanchang Petroleum (Group) Co., Ltd. at government pricing and market pricing[127] - The company has a related party transaction amount of 12,737.33 thousand yuan from the sale of natural gas to Tongchuan Natural Gas Co., Ltd., representing 2.45% of similar transaction amounts[127] - The company disclosed its related party transactions in the 2020 annual report, with specific details available in the announcement number 2020-017[127] Strategic Initiatives - The company plans to accelerate mergers and acquisitions in the urban gas sector to enhance market integration and extend its industrial chain[92] - The company is positioned to benefit from national policies promoting natural gas utilization, with plans for natural gas to account for 13% of primary energy consumption in Shaanxi Province by 2020[39] - The company expects to maintain its strategic focus on expanding its market share in the natural gas sector through ongoing investments and partnerships[143] Social Responsibility and Community Engagement - The company plans to invest over RMB 38 million in poverty alleviation projects in the Yan'an area by the end of 2020[168] - The company has implemented various poverty alleviation projects, including establishing a consumption poverty alleviation platform and providing employment opportunities for 8 impoverished households[171] - A total of eight individuals from registered impoverished households achieved employment through vocational training initiatives[172] - The company allocated a total of 1.04 million yuan for poverty alleviation efforts, helping 11 registered impoverished individuals to escape poverty[172]

Financial Performance - The company's operating revenue for Q1 2020 was ¥3,475,513,183.20, a decrease of 7.71% compared to ¥3,765,705,508.89 in the same period last year[7] - Net profit attributable to shareholders was ¥283,172,373.35, down 6.18% from ¥301,839,852.24 year-on-year[7] - Basic earnings per share were ¥0.2546, reflecting a decline of 6.19% from ¥0.2714 in the same period last year[7] - Net profit for the current period is CNY 285,857,870.14, compared to CNY 302,963,971.18 in the previous period, reflecting a decrease of approximately 5.67%[58] - The company's total revenue for the current period is approximately ¥3.30 billion, a decrease of 8.8% from ¥3.62 billion in the previous period[62] - Net profit for the current period is approximately ¥260.08 million, a decrease of 8.3% from ¥283.78 million in the previous period[67] Cash Flow - The net cash flow from operating activities decreased significantly by 51.08%, amounting to ¥576,953,870.66 compared to ¥1,179,469,074.86 in the previous year[7] - Cash flow from operating activities for the current period is approximately ¥576.95 million, down 51.0% from ¥1.18 billion in the previous period[69] - Operating cash flow for the current period was ¥531,605,408.90, a decrease of 52.8% compared to ¥1,124,305,127.31 in the previous period[78] - Cash received from operating activities was ¥3,272,506,690.19, a decrease of 16.7% from ¥3,931,829,804.69[78] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,903,303,473.58, a decrease of 1.07% from ¥12,031,772,832.46 at the end of the previous year[7] - Total liabilities decreased from ¥5,859,490,512.27 to ¥5,398,066,111.94, a reduction of approximately 7.9%[43] - Current assets decreased from ¥1,767,558,015.87 to ¥1,621,730,118.21, a decline of approximately 8.2%[37] - Total liabilities amounted to ¥5,859,490,512.27, remaining stable compared to the previous period[86] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,170[10] - The largest shareholder, Shaanxi Gas Group Co., Ltd., held 55.36% of the shares, totaling 615,650,588 shares[10] - Net assets attributable to shareholders increased by 5.50%, reaching ¥6,319,481,792.37 compared to ¥5,990,079,157.94 at the end of the previous year[7] Investment and Expenses - Investment income surged by 1568.80% to RMB 20,761,924.98 from RMB 1,244,122.04 due to increased profits from joint ventures[21] - Financial expenses decreased by 31.32% to RMB 28,298,738.99 from RMB 41,204,908.04 due to a reduction in interest-bearing liabilities and financing costs[21] - The company incurred a credit impairment loss of approximately ¥12.31 million, compared to ¥4.91 million in the previous period, indicating increased credit risk[65] Other Financial Metrics - The company received government subsidies amounting to ¥1,558,557.73 during the reporting period[7] - The company reported a 355.12% increase in taxes payable to RMB 62,665,313.23 from RMB 13,768,993.89 due to increased turnover tax[21] - The company reported a decrease in tax expenses to CNY 9,299,866.31 from CNY 20,177,389.18 in the previous period[55]

Financial Performance - The company's operating revenue for 2019 was ¥9,582,081,343.77, representing a 6.55% increase compared to ¥8,999,288,324.24 in 2018[19] - The net profit attributable to shareholders of the listed company was ¥446,974,452, an increase of 11.89% from ¥404,187,524 in 2018[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥436.74 million, an increase of 10.22% compared to the previous year[21] - The net cash flow from operating activities reached approximately ¥1.78 billion, representing a significant increase of 189.83% year-on-year[21] - Basic and diluted earnings per share were both ¥0.4019, reflecting an increase of 11.89% compared to the previous year[21] - The total assets of the company at the end of the year were approximately ¥12.03 billion, marking a growth of 2.88% from the previous year[21] - The net assets attributable to shareholders were approximately ¥5.99 billion, with a year-on-year increase of 6.79%[21] - The company reported a total operating revenue of 6,790,332,448.63 RMB for the current period, with a correction of -2,523,294.69 RMB, leading to a restated revenue of 6,787,809,153.94 RMB[140] - The net profit for the current period was reported at 591,259,564.89 RMB, adjusted down by -2,140,778.11 RMB, resulting in a restated net profit of 589,118,786.78 RMB[140] Dividend Distribution - The company plans to distribute a cash dividend of ¥2.00 per 10 shares, based on a total of 1,112,075,445 shares[4] - The company distributed a cash dividend of 222,415,089.00 yuan (including tax) for the year 2019, which represents 49.76% of the net profit attributable to ordinary shareholders[117] - The cash dividend policy for 2018 was approved on April 30, 2019, with a distribution of 1.00 yuan per 10 shares, totaling 111,207,544.50 yuan[112] - The cash dividend for 2017 was 3.00 yuan per 10 shares, amounting to 333,622,633.50 yuan, which was 86.18% of the net profit attributable to ordinary shareholders[114] - The total distributable profit for the year 2019 is reported at 2,785,007,534.53 yuan[118] - The company has maintained a consistent cash dividend distribution strategy over the past three years[116] - The cash dividend distribution is in compliance with the company's articles of association and relevant regulations[113] - The company did not issue any bonus shares or conduct capital reserve transfers during the reporting period[121] Business Operations - The company has not changed its main business since its listing, maintaining a focus on natural gas distribution[18] - The company operates over 40 natural gas pipelines with a total length exceeding 3,500 kilometers, achieving an annual gas transmission capacity of 16.5 billion cubic meters[32] - The company has expanded its urban gas business, covering 29.91% of the market in 107 districts and counties across Shaanxi Province[32] - The company plans to enhance infrastructure to increase natural gas penetration rates and develop industrial users based on regional development conditions[32] - The company’s gas consumption in Shaanxi province is projected to grow significantly due to ongoing "coal-to-gas" initiatives and increasing demand from new industrial users[36] - The company holds a market share of nearly 60% in the natural gas consumption sector within Shaanxi province, indicating a strong regional competitive advantage[40] - The company has established 7 CNG refueling stations and a liquefied natural gas (LNG) company to enhance emergency storage capacity, alleviating winter gas supply pressures[33] Research and Development - Research and development expenditure amounted to 48.47 million yuan, a significant increase of 190.38% year-on-year[51] - The company completed 13 technology research projects, including a gas pipeline system analysis platform and smart gas meter key system[50] - The number of R&D personnel rose to 106, a 116.33% increase from the previous year, with R&D investment amounting to ¥48,470,552.68, up 270.68%[74] - The proportion of R&D investment to operating revenue increased to 0.51%, up from 0.15% in the previous year[74] Financial Adjustments and Corrections - The company reported a correction in accounting errors that required restating previous years' financial data[19] - The company corrected accounting errors from previous years, resulting in a cumulative reduction of operating income by approximately ¥42.37 million and net profit by approximately ¥34.55 million[23] - The company identified accounting errors leading to a cumulative adjustment of operating revenue by -42,367,679.67 RMB and a net profit adjustment of -34,552,353.61 RMB for the years 2015 to 2018[138] - The company's weighted average return on net assets was adjusted from 12.43% to 12.42% after the corrections[140] Legal and Compliance Issues - The company is currently involved in significant litigation with Xilan Company, with a total claim amount of ¥138,806,000[149] - The company has made provisions for bad debts totaling ¥102,989,200 related to receivables from Xilan Company[149] - The company has signed a settlement arbitration agreement with Shaanxi Gaoke, agreeing to pay 10.3233 million yuan for the Ankang urban gasification project, with 8.78 million yuan already paid[155] - The company has faced arbitration claims totaling 32.049595 million yuan from Shaanxi Gaoke due to alleged breaches of contract regarding the Ankang project[155] - The company has incurred administrative penalties totaling CNY 245,589.20 for various infractions related to land use and project approvals[167] Strategic Initiatives - The company emphasizes the importance of risk awareness in its forward-looking statements regarding future plans and strategies[4] - The company intends to expand its urban gas business by increasing market share and conducting market consolidation through acquisitions and mergers[101] - The company is actively exploring new business models to improve service capabilities and market competitiveness in industrial and commercial sectors[101] - The company is committed to enhancing cooperation with local enterprises and promoting interconnectivity with neighboring provinces' gas pipelines[105] - The company emphasizes the importance of high-quality development and precise management in its strategic planning[100] Related Party Transactions - The company engaged in related transactions with its controlling shareholder, including a capital increase and share expansion agreement[172] - The company purchased natural gas from related parties, with a transaction amount of 69,669,000 RMB, accounting for 8.33% of the total transaction amount[172] - The company sold natural gas to related parties, with a transaction amount of 26,712,000 RMB, accounting for 2.62% of the total transaction amount[172] - The company reported a total sales volume of natural gas at 11,966 million cubic meters, representing a 1.17% increase compared to the previous period[178] Operational Challenges - The company acknowledges risks related to concentrated gas supply sources, primarily relying on PetroChina and Shaanxi Yanchang Petroleum[102] - The company faces potential impacts from natural gas pipeline price adjustments due to ongoing reforms in the gas sector[104] - The company has been involved in multiple legal disputes, reflecting ongoing challenges in contract execution and compliance with financial obligations[152]

陕西省天然气股份有限公司 2019 年第三季度报告 2019 年 10 月 陕西省天然气股份有限公司 2019 年第三季度报告全文 第一节 重要提示 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。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人李谦益、主管会计工作负责人任妙良及会计机构负责人(会计主 管人员)王艳声明：保证季度报告中财务报表的真实、准确、完整。 2 陕西省天然气股份有限公司 2019 年第三季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|--------|-----------------------------------------------------|-------|------------------|-------------------|--------------- ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 5,147,235,942.92, representing a 20.12% increase compared to CNY 4,285,002,247.84 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 31.98% to CNY 222,259,163.73 from CNY 326,735,666.91 year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 217,603,987.81, down 33.26% from CNY 326,060,856.69 in the previous year[20]. - The basic earnings per share decreased by 31.96% to CNY 0.1999 from CNY 0.2938 in the previous year[20]. - The net profit for the period was ¥224,452,964.05, a decline of 31.94% from ¥329,774,690.86, attributed to reduced pipeline prices and increased costs[52]. - The company reported a net profit of ¥3,795,320.80 from the acquisition of Wuqi Baoze Natural Gas Co., Ltd., which contributed to an increase in current operating income[82]. Cash Flow and Assets - The net cash flow from operating activities increased by 21.61% to CNY 927,399,655.24, compared to CNY 762,629,561.69 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 11,908,643,188.49, a 1.57% increase from CNY 11,724,077,442.51 at the end of the previous year[20]. - The company’s cash and cash equivalents decreased by 96.26% to ¥20,621,467.23 from ¥550,753,679.39, primarily due to reduced cash flows from investment and financing activities[52]. - The total assets at the end of the reporting period amounted to ¥7,258,170,658.05, with cash and cash equivalents accounting for 7.89% of total assets[59]. Investments and Acquisitions - The company has successfully acquired Wuqi Baoze Natural Gas Company, enhancing its strategic investments and partnerships in the urban gas market[31]. - The company acquired 100% of Wuqi Baoze Natural Gas Co., Ltd. for ¥10,800,000, which is expected to generate a profit of ¥3,795,320.80 in the current period[82]. - The ongoing major non-equity investment project, the Jingxi gas pipeline project, has a planned total investment of ¥81,025,000, with ¥8,968,510 invested in the reporting period and a cumulative investment of ¥35,094,480, achieving 43.31% project progress[75]. Revenue and Sales - CNG sales reached 35.33 million cubic meters, while LNG sales totaled 58.79 million cubic meters during the reporting period[32]. - The company achieved a gas sales volume of 3.318 billion cubic meters, representing 51.00% of the annual target[45]. - The operating revenue for the period was 5.147 billion RMB, completing 50.81% of the annual plan[45]. - The company reported a significant increase in pipeline transportation revenue, which grew by 64.14% year-on-year, driven by higher gas transmission volumes[57]. Research and Development - Research and development expenditure increased by 115.22% year-on-year, amounting to approximately 12.8 million RMB[48]. - Research and development expenses surged by 105.25% to ¥12,208,502.36, up from ¥5,948,213.34, indicating a significant investment in innovation[52]. Risks and Challenges - The company highlighted potential risks and uncertainties in its future plans and development strategies[4]. - The adjustment of natural gas pipeline transportation prices poses a risk to profitability, with pricing based on "allowable costs plus reasonable returns," which may impact earnings in the short term[85]. - The competitive landscape in the natural gas sector is intensifying, with upstream exploration dominated by a few state-owned enterprises and downstream competition becoming more pronounced due to regulatory changes[86]. Corporate Governance and Shareholder Information - The company is undergoing changes in its board of directors and supervisory board due to term expirations, ensuring continuity in governance[160]. - Total number of common shareholders at the end of the reporting period was 36,959[174]. - Shaanxi Gas Group Co., Ltd. holds 55.36% of shares, totaling 615,650,588 common shares[174]. - The company’s total share capital remains at 1,112,075,445 shares, with no changes in the number of shares issued or held[170]. Legal and Compliance - There are no significant litigation or arbitration matters reported during the period, indicating a stable legal environment for the company[96]. - The company has not experienced any bankruptcy restructuring or significant litigation during the reporting period, reflecting a stable operational status[96]. - The company reported a principal payment of 55.86 million yuan and a penalty of 2.2 million yuan due to contract violations in 2017[99]. Future Plans and Strategies - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company aims to strengthen resource acquisition by focusing on "consolidating old resources, exploring new resources, and achieving multi-resource" goals, enhancing resource supply security through collaboration with PetroChina and Yanchang Petroleum[85]. - The company plans to invest over RMB 38 million in poverty alleviation projects by 2020, with specific allocations for various initiatives[149].

Financial Performance - The company's operating revenue for Q1 2019 was CNY 3,765,705,508.89, representing a 29.99% increase compared to CNY 2,896,836,571.79 in the same period last year[7] - Net profit attributable to shareholders was CNY 301,839,852.24, a decrease of 3.87% from CNY 313,988,394.09 year-on-year[7] - Basic earnings per share for the period were CNY 0.2714, down 3.86% from CNY 0.2823 in the same period last year[7] - Operating profit for the current period was ¥357,000,304.56, slightly down by 4.3% from ¥375,159,304.10 in the previous period[64] - Net profit for the current period was ¥302,963,971.18, a decrease of 4.7% compared to ¥317,906,256.61 in the previous period[66] - The total comprehensive income for the period was not explicitly stated but can be inferred from the changes in retained earnings and other equity components[50] Cash Flow - The net cash flow from operating activities increased by 194.51%, reaching CNY 1,179,469,074.86 compared to CNY 400,480,236.51 in the previous year[7] - Cash inflow from operating activities totaled 4,141,220,132.21, an increase from 3,039,412,045.59 in the previous period, representing a growth of approximately 36.4%[76] - Cash inflow from sales of goods and services reached 4,084,866,240.34, up from 3,014,807,065.56 in the previous period, representing a growth of approximately 35.4%[76] - Investment cash flow net outflow increased by 95.49% to RMB -232,115,210.51 due to higher cash payments for investments[22] - Financing cash flow net outflow increased by 153.98% to RMB -354,287,608.09 due to increased payments for finance lease rentals[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 12,226,274,284.01, up 4.28% from CNY 11,724,077,442.51 at the end of the previous year[7] - The total liabilities increased to CNY 6,077,752,551.45 from CNY 5,911,299,035.98, representing a growth of approximately 2.82%[47] - The total equity rose to CNY 6,148,521,732.56 from CNY 5,812,778,406.53, indicating an increase of about 5.77%[50] - The total current assets amounted to CNY 2,329,588,536.70, an increase from CNY 1,904,988,609.51 as of December 31, 2018, representing a growth of approximately 22.3%[41] - The total non-current assets were reported at CNY 9,896,685,747.31, a slight increase from CNY 9,819,088,833.00, indicating a growth of about 0.8%[44] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 37,620, with the largest shareholder holding 55.36%[11] - The net assets attributable to shareholders increased by 5.92%, amounting to CNY 5,977,798,869.10 compared to CNY 5,643,756,175.63 at the end of the previous year[7] Research and Development - Research and development expenses increased by 84.19% to RMB 5,777,068.72 compared to the previous period[22] - Research and development expenses increased to ¥5,777,068.72, up 84.0% from ¥3,136,458.09 in the previous period[61] Acquisitions and Investments - The company acquired 100% equity of Wuqi Baoze Natural Gas Co., Ltd. for 147.21 million yuan, completing the acquisition on January 23, 2019[25] - The acquisition of Wuqi Baoze is part of the company's strategy to expand in the urban gas market under a competitive landscape[25] - Goodwill of RMB 90,245,068.71 was recognized from the acquisition of Wuqi Baoze Company[22] Tax and Compliance - Tax payable increased by 648.56% to RMB 120,755,103.89 due to increased income tax and reduced VAT input tax credits[22] - The company has committed to resolving competition issues related to the transfer of gas assets within a specified timeframe, extending the deadline to April 10, 2020[33] - The company is committed to obtaining ownership certificates for remaining properties, with one land and one property certificate still pending as of the reporting period[28] Financial Reporting - The company is focused on enhancing its financial reporting accuracy and reflecting its operational results more fairly[25] - The company has implemented new financial instrument standards since January 1, 2019, with no significant impact on financial results[95] - The company has not implemented the new revenue and leasing standards, with no significant impact on financial results[99] - The first quarter report was not audited[102]