佛燃能源集团股份有限公司 2022 年第三季度报告 同一控制下企业合并 证券代码：002911 证券简称：佛燃能源 公告编号：2022-099 佛燃能源集团股份有限公司 2022 年第三季度报告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报 告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □是 否 一、主要财务数据 （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 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------|-------------------|---------- ...

Financial Performance - The company's operating revenue for the first half of 2022 was ¥8,243,680,839.58, representing a 51.27% increase compared to ¥5,449,508,324.76 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was ¥268,148,299.06, a 2.82% increase from ¥260,791,187.99 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥258,922,200.86, up 3.02% from ¥251,321,061.98[26]. - The net cash flow from operating activities was ¥336,479,271.97, a significant increase of 388.67% compared to ¥68,855,933.55 in the same period last year[26]. - Basic earnings per share were ¥0.2837, reflecting a 2.83% increase from ¥0.2759[26]. - Total assets at the end of the reporting period were ¥14,443,452,693.56, a 3.63% increase from ¥13,936,991,567.93 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥4,312,395,738.25, down 3.30% from ¥4,459,608,033.18[26]. - The weighted average return on equity was 5.92%, a decrease of 1.70% from 7.62% in the previous year[26]. - The operating cost increased by 56.23% to ¥7,346,328,486.33, up from ¥4,702,301,256.36, primarily due to a significant rise in gas source costs[67]. - Research and development investment rose by 11.56% to ¥132,590,208.08, up from ¥118,851,227.71[67]. Business Operations - The company achieved operating revenue of 8.244 billion yuan, a year-on-year increase of 51.27%[36]. - The natural gas supply volume was 1.853 billion cubic meters, a decrease of 2.13% year-on-year[36]. - The net profit from the natural gas business in Foshan decreased by 76.12%, while other businesses saw a profit increase of 86.16%[36]. - The company is actively expanding its energy services, including gas supply, hydrogen energy, and thermal energy, to optimize its business structure[36]. - The company supplied a total of 326,000 kWh of electricity and 290,000 kWh of cooling energy through its energy storage projects during the reporting period[44]. - The company has established a "mother-son station" model for hydrogen energy, providing over 14,000 refueling services and 150,000 kilograms of hydrogen during the reporting period[39]. - The company has invested in three distributed photovoltaic power stations with a total installed capacity of approximately 2 MW, contributing to a cumulative capacity of 23.68 MW[43]. - The company plans to construct a distributed energy station project with a capacity of 2×120 MW, approved by the local development and reform bureau[42]. - The company has signed natural gas procurement contracts with domestic and international suppliers to ensure stable gas supply[38]. - The company is expanding its gas service business, which includes engineering construction, design supervision, and cost consulting, to support various energy projects[48]. Environmental and Social Responsibility - The company supplied 1.853 billion cubic meters of natural gas, reducing carbon dioxide emissions by 1.01 million tons compared to coal[146]. - The company has developed and operated distributed photovoltaic projects with a total capacity of 23.68 MW, generating 9.644 million kWh of electricity[145]. - The company replaced approximately 900,000 liters of fuel with hydrogen, resulting in a reduction of 2,468 tons of carbon dioxide emissions[145]. - The company has implemented energy-saving renovation projects with an average energy-saving rate of 60%[145]. - The company has planted 170,000 trees as part of its environmental responsibility initiatives[146]. - The company participated in community support during the pandemic, sending 180 volunteers to assist in nucleic acid testing for 50,000 residents[147]. - The company provided 500,000 RMB in support for rural revitalization initiatives, including infrastructure development and educational programs[148]. - The company purchased local agricultural products worth approximately 640,000 RMB to support poverty alleviation efforts in Guizhou province[148]. - A total of 221,000 RMB was donated for youth care and educational assistance programs, including scholarships for university students[148]. - The company has established partnerships with local villages to enhance community support and development[148]. Risk Management - The management has highlighted potential risks and countermeasures in the report, urging investors to be cautious[5]. - The company faces significant risks from fluctuations in raw material prices, particularly in the natural gas sector, due to geopolitical tensions affecting global oil and gas markets[118]. - The company is exposed to exchange rate risks, particularly with the potential for significant fluctuations in the RMB to USD exchange rate, impacting international procurement costs[119]. - Changes in national policies regarding gas pricing and energy consumption may adversely affect the company's operations and customer base, particularly in high-energy-consuming industries[120]. - The company plans to enhance its risk management strategies, including hedging against price fluctuations and utilizing financial instruments to mitigate exchange rate impacts[119]. Corporate Governance - The company will not distribute cash dividends or issue bonus shares for the half-year period, indicating a focus on reinvestment[126]. - The company has conducted multiple shareholder meetings with high participation rates, indicating strong investor engagement[125]. - The company has implemented a stock option incentive plan to align employee interests with company performance, which was approved by relevant authorities[130]. - The company has established several new subsidiaries during the reporting period, which did not significantly impact overall operational performance[114]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[153]. - The half-year financial report has not been audited[155]. - The company has not reported any violations regarding external guarantees during the reporting period[154]. Related Party Transactions - The total amount of daily related party transactions for the reporting period did not exceed the estimated total amount, indicating effective management of related transactions[169]. - The company reported a total of 18,498.1 million in related party transactions during the period[169]. - The company engaged in the procurement of raw materials from related parties, with specific transactions including 3,889.55 million for steam procurement and 1,513.76 million for natural gas purchases[166]. - The company has not experienced significant discrepancies between transaction prices and market reference prices, maintaining compliance with market standards[169]. - The company has established contracts for procurement at market prices, ensuring transparency and fairness in transactions[166]. Investment and Fund Management - The company reported a total investment of ¥1,204,140,886.82 during the reporting period, a decrease of 10.25% compared to ¥1,341,721,683.40 in the same period last year[79]. - The total amount of raised funds in the first half of 2022 was RMB 714.88 million, with RMB 1.40 million utilized during the period, leaving RMB 74.81 million unutilized[88]. - As of June 30, 2022, 83.22% of the raised funds had been allocated for specific projects, with RMB 59.49 million being repurposed[88]. - The company has established a dedicated account for managing raised funds, ensuring compliance with regulatory agreements[88]. - The company has not used any raised funds for financial products during the reporting period[88]. - The company has not encountered any issues with the use and disclosure of raised funds, and all unused funds remain in a dedicated account[101].

Financial Performance - The company's operating revenue for Q1 2022 was CNY 3,301,781,496.87, representing a 56.08% increase compared to CNY 2,115,406,918.37 in the same period last year[3]. - Net profit attributable to shareholders was CNY 74,890,428.83, an increase of 7.81% from CNY 69,468,360.45 in the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 72,648,201.53, up 8.78% from CNY 66,782,998.79 year-on-year[3]. - The total operating revenue for Q1 2022 was CNY 3,301,781,496.87, an increase of 56.06% compared to CNY 2,115,406,918.37 in the same period last year[19]. - The total operating costs for Q1 2022 were CNY 3,139,767,652.27, up 56.77% from CNY 2,001,618,907.57 in Q1 2021[19]. - The net profit for Q1 2022 was CNY 66,875,962.09, a decrease of 16.01% compared to CNY 79,574,039.81 in Q1 2021[20]. - The total comprehensive income for the period was CNY 66,875,962.09, compared to CNY 79,574,039.81 in the previous period, reflecting a decrease of approximately 16%[21]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 8.10% to CNY 135,296,272.35 from CNY 147,220,323.82 in the previous year[3]. - The company's cash and cash equivalents increased to RMB 1,902,938,180.07 from RMB 1,622,042,618.56, reflecting a growth of 17.3%[13]. - The company's cash and cash equivalents at the end of the period amounted to CNY 1,848,998,023.16, up from CNY 1,566,268,434.05 in the previous period, indicating an increase of about 18%[24]. - The company's total cash inflow from operating activities was CNY 3,526,481,330.62, compared to CNY 2,292,254,483.37 in the previous period, marking an increase of approximately 54%[23]. - The net cash flow from investing activities was -CNY 342,870,297.71, an improvement from -CNY 837,227,356.80 in the previous period[24]. - The net cash flow from financing activities was CNY 487,905,606.62, down from CNY 882,545,376.66 in the previous period, showing a decrease of about 45%[24]. - The company received CNY 50,000,000.00 from other financing activities, compared to CNY 690,919,790.00 in the previous period, showing a significant decrease[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 14,990,979,472.75, a 7.56% increase from CNY 13,936,991,567.93 at the end of the previous year[3]. - The total assets increased to CNY 14,990,979,472.75 in Q1 2022 from CNY 13,936,991,567.93 in Q1 2021, reflecting a growth of 7.57%[16]. - The total liabilities rose to CNY 9,342,834,988.93, compared to CNY 8,341,978,131.91 in the previous year, marking an increase of 12.00%[16]. - As of March 31, 2022, the company's total current assets amounted to RMB 4,601,733,304.02, an increase of 21.6% from RMB 3,785,995,509.43 at the beginning of the year[13]. Shareholder Equity - Shareholders' equity attributable to the parent company was CNY 4,539,340,065.40, up 1.79% from CNY 4,459,608,033.18 at the end of the previous year[3]. - The total equity attributable to shareholders increased to CNY 4,539,340,065.40 from CNY 4,459,608,033.18, reflecting a growth of 1.79%[16]. Earnings and Expenses - Basic and diluted earnings per share were both CNY 0.08, reflecting a 14.29% increase from CNY 0.07 in the same period last year[3]. - Research and development expenses for Q1 2022 were CNY 49,177,045.59, up 37.67% from CNY 35,660,247.68 in Q1 2021, indicating a focus on innovation[19]. - The company reported a decrease in employee compensation liabilities to CNY 57,346,621.33 from CNY 127,812,410.31, suggesting a potential restructuring or cost-cutting measures[16]. Other Financial Activities - The company reported a non-operating income of CNY 2,242,227.30, primarily from government subsidies and other income[4]. - The company underwent a retrospective adjustment due to a business combination under common control[3]. - The company completed the issuance of the first phase of ultra-short-term financing bonds for 2022, with a scale of RMB 400 million, which was received on January 12, 2022[11]. - The company issued the second phase of ultra-short-term financing bonds for 2022, also amounting to RMB 400 million, received on March 23, 2022[11]. - The company approved a proposal to sign a liquefied natural gas sales and purchase agreement with Sinochem Singapore International Petroleum Co., Ltd.[11]. - The company plans to manage operational risks arising from natural gas price fluctuations through hedging strategies involving various financial institutions[11]. Asset Composition - The company's inventory rose to RMB 342,718,464.65, up from RMB 283,820,643.09, indicating a 20.7% increase[13]. - The company’s fixed assets increased to RMB 5,677,701,952.92 from RMB 5,656,855,262.16, showing a slight growth[13]. - The company’s long-term equity investments slightly decreased to RMB 138,424,414.97 from RMB 138,574,386.89[13]. - The company’s intangible assets decreased to RMB 1,816,688,928.36 from RMB 1,837,201,779.82, reflecting a decline[13].

Financial Performance - The company reported a total revenue of 9.45 billion RMB for the year 2021, with a year-on-year growth of 15%[5] - The company's operating revenue for 2021 was CNY 13,531,177,503.52, representing a 78.71% increase compared to CNY 7,514,573,052.90 in 2020[24] - The net profit attributable to shareholders for 2021 was CNY 594,740,178.12, which is a 26.72% increase from CNY 469,134,527.84 in 2020[24] - Revenue for the reporting period reached 13.531 billion yuan, a year-on-year growth of 78.71%, while net profit attributable to shareholders was 595 million yuan, up 26.72%[49] - The company's natural gas business revenue was 11.994 billion yuan, reflecting an 80.79% increase year-on-year, with a net profit of 314 million yuan, growing by 2%[49] - The company reported a basic earnings per share for 2021 was CNY 0.63, a 26.00% increase from CNY 0.50 in 2020[26] - The company reported a weighted average return on equity of 16.88% for 2021, up from 14.44% in 2020[26] - The gross profit margin for the energy sector was 11.24%, with a slight decrease of 3.58% compared to the previous year[76] Market Expansion and Strategy - The company plans to expand its market presence by increasing the number of gas stations by 20% in the next fiscal year[5] - Future outlook includes a projected revenue growth of 12% for 2022, driven by increased demand for natural gas[5] - The company is actively expanding its market presence, focusing on the "coal-to-gas" initiative in ceramic enterprises in Foshan, Zhaoqing, and Enping[79] - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[200] - Market expansion plans include entering three new international markets by the end of the year, which could potentially increase user base by 30%[200] Research and Development - The company is investing 500 million RMB in R&D for new energy technologies over the next three years[5] - R&D expenses increased by 104% year-on-year to approximately CNY 301 million, with the company holding 243 authorized patents, including 22 invention patents[65] - The company has established a specialized R&D team for SOFC with over 20 professionals, collaborating with domestic manufacturers and foreign design firms to advance SOFC commercialization[56] - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience and operational efficiency[200] User Engagement and Growth - User data indicates a 25% increase in active users, reaching a total of 1.2 million by the end of 2021[5] - User data showed a 15% increase in active users, reaching 10 million users by the end of the quarter[200] - A new marketing strategy has been implemented, focusing on digital channels, which is expected to increase customer engagement by 40%[200] Sustainability and Future Outlook - The company aims to achieve a net profit margin of 10% in the upcoming year, up from 8% in 2021[5] - The company is committed to transitioning from a single gas provider to a comprehensive energy service provider, focusing on oil, hydrogen, thermal energy, and renewable energy sectors[49] - Future guidance indicates a commitment to sustainability initiatives, with plans to invest $30 million in green technologies over the next two years[200] Risk Management - Risk management strategies have been enhanced to address potential regulatory changes impacting the energy sector[5] - The company acknowledges risks from macroeconomic uncertainties, raw material price fluctuations, and exchange rate volatility, and is implementing risk management strategies to mitigate these impacts[159][160] - The company faces uncertainty in its natural gas international procurement business due to fluctuations in the RMB exchange rate, which may impact performance[163] Governance and Compliance - The company maintains a governance structure that complies with regulatory requirements, ensuring fair treatment of all shareholders and effective decision-making processes[172] - The board of directors consists of 9 members, including 3 independent directors, and operates through specialized committees to enhance decision-making efficiency[173] - The company strictly adheres to information disclosure obligations, ensuring all shareholders have fair access to relevant information[176] Social Responsibility - The company is committed to social responsibility, focusing on community welfare, poverty alleviation, and ecological protection[177] - The company was awarded the "Social Responsibility Award" and "Most Socially Responsible Listed Company" in recognition of its commitment to social responsibility and environmental initiatives[69]

[Main Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) The company reported significant operating revenue growth of 90.23% in Q1-Q3 2021, while net profit remained flat, total assets increased by 53.76% due to consolidation, and operating cash flow sharply declined by 99.32% [Key Accounting Data and Financial Indicators](index=1&type=section&id=%E4%B8%80%E3%80%81%28%E4%B8%80%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first three quarters of 2021, the company's operating revenue significantly increased by 90.23%, but net profit attributable to shareholders remained almost flat, with a slight increase of only 0.08%, total assets significantly rose by 53.76% due to an expanded consolidation scope, while net cash flow from operating activities sharply decreased by 99.32% Key Financial Indicators for Q1-Q3 2021 | Indicator | Year-to-Date as of Reporting Period End | YoY Change | | :--- | :--- | :--- | | Operating Revenue (RMB) | 9,631,213,188.85 | 90.23% | | Net Profit Attributable to Shareholders (RMB) | 393,045,369.02 | 0.08% | | Net Cash Flow from Operating Activities (RMB) | 5,507,999.27 | -99.32% | | Basic Earnings Per Share (RMB/share) | 0.4158 | 0.07% | | Total Assets (RMB) | 13,298,215,126.47 | 53.76% (compared to end of previous year) | | Shareholders' Equity Attributable to Parent (RMB) | 3,422,692,540.16 | 2.23% (compared to end of previous year) | [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=%E4%B8%80%E3%80%81%28%E4%BA%8C%29%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) In the first three quarters of 2021, the company's total non-recurring gains and losses amounted to RMB 11.43 million, primarily from government grants and capital occupation fees collected from non-financial enterprises Non-Recurring Gains and Losses Items for Q1-Q3 2021 | Item | Year-to-Date Amount as of Reporting Period End (RMB) | | :--- | :--- | | Government Grants Included in Current Period P&L | 9,656,573.87 | | Capital Occupation Fees from Non-Financial Enterprises Included in Current Period P&L | 7,214,600.96 | | Net Other Non-Operating Income and Expenses | 2,004,334.50 | | **Total** | **11,429,020.82** | [Analysis of Changes in Key Financial Indicators](index=2&type=section&id=%E4%B8%80%E3%80%81%28%E4%B8%89%29%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) During the reporting period, the significant increase in operating revenue was primarily due to increased natural gas sales and business expansion from newly acquired subsidiaries, the growth in total assets resulted from an expanded consolidation scope leading to increased non-current assets, and the sharp decline in net cash flow from operating activities was attributed to increased cash outflows for purchasing goods and receiving services - Operating revenue increased by **90.23%** year-over-year, primarily due to increased natural gas sales and business expansion from newly added subsidiaries[7](index=7&type=chunk) - Net cash flow from operating activities decreased by **99.32%** year-over-year, mainly due to increased cash outflows for purchasing goods and receiving services during the reporting period[7](index=7&type=chunk) - Total assets increased by **53.76%** compared to the end of the previous year, primarily due to the addition of consolidated subsidiaries and an increase in non-current assets during the reporting period[7](index=7&type=chunk) [Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) As of the reporting period end, the company had 26,603 common shareholders, with a highly concentrated equity structure where the top two shareholders collectively hold over 80% of the shares [Common Shareholder Count and Top Ten Shareholder Holdings](index=3&type=section&id=%E4%BA%8C%E3%80%81%28%E4%B8%80%29%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had 26,603 common shareholders, and the equity structure is highly concentrated, with the top two shareholders, Foshan Gas Group Co., Ltd. (state-owned legal entity) and Towngas Investment Co., Ltd. (domestic non-state-owned legal entity), holding over 80% of the shares combined - As of the end of the reporting period, the company had **26,603** common shareholders[9](index=9&type=chunk) Top Ten Shareholder Holdings | Shareholder Name | Shareholder Type | Holding Percentage | | :--- | :--- | :--- | | Foshan Gas Group Co., Ltd. | State-owned Legal Entity | 42.16% | | Towngas Investment Co., Ltd. | Domestic Non-State-owned Legal Entity | 38.67% | | Foshan Zhongcheng Investment Co., Ltd. | Domestic Non-State-owned Legal Entity | 7.16% | | National Council for Social Security Fund Transfer Account 1 | State-owned Legal Entity | 1.01% | | Hong Kong Securities Clearing Company Limited | Overseas Legal Entity | 0.20% | [Other Significant Matters](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) During the reporting period, the company disclosed several significant matters, including the completion of a share reduction plan by a shareholder holding over 5%, successful issuance of ultra-short-term financing bonds, an increase in the annual related-party transaction limit, a change in accounting estimates, and registration approval for two medium-term notes - Shareholder Foshan Zhongcheng Investment Co., Ltd. completed its share reduction plan, divesting a total of **8,804,000** shares (representing **0.93%** of total share capital) through centralized bidding[12](index=12&type=chunk) - The company completed the issuance of its second tranche of ultra-short-term financing bonds for 2021, totaling **RMB 300 million**, on July 27, 2021[12](index=12&type=chunk) - The company adjusted and increased the estimated annual ordinary related-party transaction amounts with Towngas International Energy Trading Co., Ltd. and Guangzhou Towngas Co., Ltd., with a combined increase not exceeding **RMB 46.10 million**[12](index=12&type=chunk) - The company made a change in accounting estimates regarding the depreciation period of pipeline fixed assets[12](index=12&type=chunk) - The company received notification from the National Association of Financial Market Institutional Investors (NAFMII), approving the registration of two medium-term notes, each valued at **RMB 1.5 billion**, with the registration valid for two years from the date of the notice[12](index=12&type=chunk) [Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) The financial statements for Q1-Q3 2021 show a 53.76% increase in total assets driven by non-current assets, an 83.15% rise in total liabilities, significant revenue growth offset by higher costs, a flat net profit, and a sharp decline in operating cash flow, with adjustments made for new leasing standards [Consolidated Balance Sheet](index=5&type=section&id=%E5%9B%9B%E3%80%81%28%E4%B8%80%291%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2021, the company's total assets reached RMB 13.30 billion, a 53.76% increase from the beginning of the year, primarily driven by increases in non-current assets such as fixed assets, construction in progress, and intangible assets, total liabilities were RMB 8.51 billion, a significant 83.15% increase from the beginning of the year, mainly due to higher long-term borrowings and bonds payable, and equity attributable to the parent company was RMB 3.42 billion, a slight 2.23% increase from the beginning of the year Key Items from Consolidated Balance Sheet (RMB) | Item | September 30, 2021 | December 31, 2020 | Change | | :--- | :--- | :--- | :--- | | Total Assets | 13,298,215,126.47 | 8,648,687,247.31 | +53.76% | | Total Liabilities | 8,506,818,864.75 | 4,644,689,154.07 | +83.15% | | Total Equity Attributable to Parent Company | 3,422,692,540.16 | 3,347,888,587.43 | +2.23% | - Non-current assets increased from **RMB 5.97 billion** at the beginning of the year to **RMB 9.35 billion**, primarily driven by increases in fixed assets, construction in progress, and intangible assets[13](index=13&type=chunk)[14](index=14&type=chunk) - Non-current liabilities significantly increased from **RMB 1.30 billion** at the beginning of the year to **RMB 4.35 billion**, mainly due to higher long-term borrowings and bonds payable[14](index=14&type=chunk)[15](index=15&type=chunk) [Consolidated Income Statement](index=7&type=section&id=%E5%9B%9B%E3%80%81%28%E4%B8%80%292%E3%80%81%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2021, the company achieved total operating revenue of RMB 9.63 billion, a 90.23% year-over-year increase, however, operating costs also rose by 100.33% year-over-year, coupled with significant increases in R&D and financial expenses, narrowing the operating profit growth to 3.65%, and ultimately, net profit attributable to parent company owners was RMB 393.05 million, remaining largely flat compared to the same period last year Key Items from Consolidated Income Statement (Year-to-Date as of Reporting Period End, RMB) | Item | Current Period Amount | Prior Period Amount | YoY Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 9,631,213,188.85 | 5,062,877,848.03 | +90.23% | | Total Operating Costs | 9,068,527,722.44 | 4,538,715,344.80 | +99.80% | | Of which: Operating Costs | 8,416,388,649.94 | 4,201,286,256.22 | +100.33% | | R&D Expenses | 264,638,362.70 | 98,030,594.17 | +170.0% | | Financial Expenses | 144,291,281.48 | 36,883,902.59 | +291.2% | | Operating Profit | 611,955,852.44 | 590,373,446.08 | +3.65% | | Net Profit Attributable to Parent Company Owners | 393,045,369.02 | 392,742,214.11 | +0.08% | [Consolidated Cash Flow Statement](index=9&type=section&id=%E5%9B%9B%E3%80%81%28%E4%B8%80%293%E3%80%81%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2021, net cash flow from operating activities was RMB 5.51 million, a significant 99.32% decrease from RMB 807.37 million in the prior year, primarily due to a substantial increase in cash paid for goods and services, net cash outflow from investing activities expanded to RMB 1.38 billion, mainly for the acquisition of fixed assets, intangible assets, and subsidiaries, and net cash inflow from financing activities was RMB 1.35 billion, primarily from borrowings Key Items from Consolidated Cash Flow Statement (Year-to-Date as of Reporting Period End, RMB) | Item | Current Period Amount | Prior Period Amount | YoY Change | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 5,507,999.27 | 807,367,262.71 | -99.32% | | Net Cash Flow from Investing Activities | -1,378,288,862.93 | -583,041,359.36 | -136.39% | | Net Cash Flow from Financing Activities | 1,344,607,998.19 | -9,584,608.89 | N/A | | Net Increase in Cash and Cash Equivalents | -30,221,167.08 | 213,070,672.58 | -114.18% | [Explanation of Financial Statement Adjustments](index=11&type=section&id=%E5%9B%9B%E3%80%81%28%E4%BA%8C%29%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E8%B0%83%E6%95%B4%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) In accordance with Accounting Standard for Business Enterprises No. 21 - Leases issued by the Ministry of Finance, the company adopted the new leasing standard from January 1, 2021, and this accounting policy change resulted in retrospective adjustments to the opening financial statements, primarily recognizing 'right-of-use assets' and 'lease liabilities,' both amounting to RMB 46.90 million - The company adopted the new leasing standard from **January 1, 2021**, and adjusted relevant items in the financial statements at the beginning of the first year of adoption[21](index=21&type=chunk)[25](index=25&type=chunk) Impact of New Leasing Standard Adoption on January 1, 2021 Balance Sheet | Adjusted Item | Adjustment Amount (RMB) | | :--- | :--- | | **Assets** | | | Right-of-Use Assets | +46,895,535.51 | | **Liabilities** | | | Lease Liabilities | +46,895,535.51 | [Audit Report](index=14&type=section&id=%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's 2021 third-quarter report is unaudited [Audit Opinion](index=14&type=section&id=%E5%AE%A1%E8%AE%A1%E6%84%8F%E8%A7%81) This quarterly report is unaudited - The company's **2021 Third Quarter Report** is unaudited[26](index=26&type=chunk)

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 5,430,682,231.81, representing an increase of 82.77% compared to CNY 2,971,294,794.01 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 261,086,161.29, up 12.02% from CNY 233,078,841.14 year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 252,137,673.88, reflecting a 13.90% increase from CNY 221,374,915.25 in the previous year[20]. - The basic and diluted earnings per share were both CNY 0.2762, representing a 12.00% increase from CNY 0.2466 in the same period last year[20]. - The weighted average return on net assets was 7.76%, an increase of 0.52% compared to 7.24% in the previous year[20]. - The company achieved operating revenue of 543.068 million yuan, a year-on-year increase of 82.77%[28]. - Net profit attributable to shareholders was 26.109 million yuan, up 12.02% year-on-year, with basic earnings per share of 0.28 yuan[28]. - The company reported a total revenue of 9,387.56 million yuan for the period[127]. - The company reported a total revenue of 10,210,000,000 for the last fiscal year, indicating a significant growth compared to the previous year[196]. Cash Flow and Investments - The net cash flow from operating activities was CNY 66,347,089.75, a decrease of 87.97% compared to CNY 551,474,661.57 in the same period last year[20]. - The net cash flow from investing activities was -¥1,210,825,738.79, a significant decline of 451.09% compared to -¥219,714,284.30, attributed to cash payments for acquiring subsidiaries and increased investments in fixed assets[42]. - The net cash flow from financing activities surged to ¥1,024,561,899.68 from -¥114,341,869.19, marking a 996.05% increase due to new long-term borrowings and issuance of medium-term notes[42]. - The company reported a substantial increase in investment amounting to ¥1,341,721,683.40 during the reporting period, a 378.55% increase compared to the previous year[60]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,483,525,694.20, an increase of 44.34% from CNY 8,648,687,247.31 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company were CNY 3,273,535,706.50, down 2.22% from CNY 3,347,888,587.43 at the end of the previous year[20]. - Cash and cash equivalents at the end of the reporting period amounted to ¥1,297,159,179.82, accounting for 10.39% of total assets, a decrease of 6.03% compared to the previous year[53]. - Accounts receivable reached ¥661,808,845.22, representing 5.30% of total assets, with a decrease of 0.62% year-on-year[53]. - Long-term borrowings increased significantly to ¥2,295,137,919.76, accounting for 18.39% of total assets, up by 15.59% due to new long-term borrowings and the expansion of the consolidated scope of subsidiaries[54]. Business Operations and Market Presence - Natural gas supply volume reached 1.893 billion cubic meters, representing a year-on-year growth of 64.47%[28]. - The sales volume of natural gas was 1.813 billion cubic meters, an increase of 65.12% year-on-year, with industrial users accounting for 64.37% of total sales[28]. - Revenue from the local pipeline gas business in Foshan was 297.963 million yuan, up 62.11% year-on-year[28]. - The company is focusing on expanding its market presence and enhancing its operational efficiency through strategic investments in subsidiaries[75]. - The company is expanding its business by developing LNG trading and storage projects to mitigate risks from international gas price fluctuations[78]. Research and Development - The company has invested in hydrogen energy technology research and development, with a hydrogen production and refueling station now in trial operation[29]. - The company has 231 authorized patents and 53 software copyrights, indicating a strong focus on R&D[29]. - Research and development expenses increased by 137.02% to ¥118,851,227.71 from ¥50,143,473.19, reflecting the company's intensified R&D efforts and new project initiatives[42]. - The company is actively investing in research and development for technologies such as solid oxide fuel cells and hydrogen storage technology[36]. Safety and Environmental Commitment - The company reported zero major safety incidents during the reporting period, reflecting its commitment to safety and service quality[29]. - The company has established two air pollutant control facilities and conducts monthly monitoring to ensure compliance with pollution discharge standards[92]. - The company has implemented environmental protection measures and has a self-monitoring plan uploaded to the national pollution permit management platform[95]. - The company has no administrative penalties related to environmental issues during the reporting period[97]. Shareholder and Corporate Governance - The company plans to distribute a cash dividend of CNY 6 per 10 shares, totaling CNY 333,600,000, and to increase capital by converting reserves into shares at a ratio of 7 shares for every 10 shares held[162]. - The total number of common stock shareholders at the end of the reporting period is 20,725[171]. - The largest shareholder, Foshan Gas Group Co., Ltd., holds 42.16% of shares, totaling 398,480,000 shares[171]. - The company has implemented a stock option incentive plan to motivate employees and align their interests with shareholders[85]. Risks and Challenges - The company has detailed potential risks and corresponding measures in the report, urging investors to be aware of investment risks[4]. - The company is facing risks related to government pricing policies that could affect future performance stability[76]. - The company is actively managing operational risks by enhancing employee risk recognition and prevention capabilities[78].

佛燃能源集团股份有限公司 2021 年第一季度报告全文 佛燃能源集团股份有限公司 2021 年第一季度报告 2021-047 2021 年 04 月 1 佛燃能源集团股份有限公司 2021 年第一季度报告全文 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。 公司负责人尹祥、主管会计工作负责人谢丹颖及会计机构负责人(会计主管 人员)许泽勇声明：保证季度报告中财务报表的真实、准确、完整。 2 佛燃能源集团股份有限公司 2021 年第一季度报告全文 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 | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|-----------------------------------------------------|--------|-------|-------------------|- ...

佛燃能源集团股份有限公司 2020 年年度报告全文 佛燃能源集团股份有限公司 2020 年年度报告 2021-027 2021 年 03 月 1 佛燃能源集团股份有限公司 2020 年年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人殷红梅、主管会计工作负责人谢丹颖及会计机构负责人(会计主 管人员)许泽勇声明：保证本年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告中涉及的未来计划等前瞻性陈述，不构成公司对投资者的实质承诺， 投资者及相关人士均应对此保持足够的风险认识，并且应当理解计划、预测与 承诺之间的差异。敬请投资者注意投资风险。 公司已在报告中详细描述了可能存在的相关风险，敬请投资者查阅本报告 第四节"经营情况讨论与分析"的"九、公司未来发展的展望"之"四、公司 可能面对的风险及应对措施"。 公司经本次董事会审议通过的利润分配预案为：以 556000000 为基数，向 全体股东每 10 股派发现金红利 6 元（ ...

Financial Performance - Operating revenue for the reporting period was ¥2,091,583,054.02, representing a year-on-year growth of 31.76%[7] - Net profit attributable to shareholders was ¥159,663,372.97, reflecting a 22.14% increase compared to the same period last year[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥153,504,044.23, up 18.88% year-on-year[7] - Basic earnings per share for the period was ¥0.29, an increase of 20.83% compared to the previous year[7] - The company reported a 67.31% increase in non-operating income to ¥1,107,080 from ¥661,710[19] - The total profit for the quarter was CNY 242,283,953.91, compared to CNY 211,125,489.86 in the same quarter last year, marking an increase of approximately 14.7%[53] - The net profit for the third quarter of 2020 was CNY 466,778,020.75, an increase of 6.0% compared to CNY 438,530,075.77 in the same period last year[60] Assets and Liabilities - Total assets at the end of the reporting period reached ¥8,066,098,700.09, an increase of 14.52% compared to the end of the previous year[7] - The company's total liabilities increased to CNY 4,208,384,133.08 from CNY 3,311,898,526.23, marking a rise of around 27.0%[45] - The company's current assets reached CNY 2,716,061,726.86, up from CNY 2,287,710,903.23 at the end of 2019, indicating an increase of about 18.7%[42] - The company's total assets amounted to CNY 7,043,324,698.01, with current assets totaling CNY 2,287,710,903.23[77] - The total liabilities were CNY 3,311,898,526.23, with current liabilities accounting for CNY 2,443,114,597.56[81] Cash Flow - The net cash flow from operating activities was ¥255,892,601.14, a decrease of 19.12% compared to the previous year[7] - The company reported a significant increase in cash received from other operating activities, totaling CNY 175.88 million, compared to CNY 86.80 million in the previous year, representing an increase of approximately 102%[70] - Cash inflow from operating activities totaled CNY 5.90 billion, an increase of about 12.24% from CNY 5.25 billion in the previous year[70] - Cash outflow from operating activities was CNY 5.09 billion, up from CNY 4.49 billion, resulting in a net cash flow from operating activities of CNY 807.37 million, which is an increase of approximately 5% year-over-year[71] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,272[12] - The largest shareholder, Foshan Gas Group Co., Ltd., held 42.16% of the shares, totaling 234,400,000 shares[12] - The second largest shareholder, Honghua Gas Investment Co., Ltd., held 38.67% of the shares, totaling 215,000,000 shares[12] Research and Development - Research and development expenses surged by 314.28% to ¥98,030,600 from ¥23,663,000 as the company increased its R&D investment[19] - The company reported a research and development expense of ¥47,887,120.98 for Q3 2020, which is a substantial increase from ¥11,006,187.09 in the same period last year, showing a growth of 335.4%[52] - Research and development expenses increased significantly to CNY 98,030,594.17, compared to CNY 23,662,987.74 in the same quarter last year, reflecting a growth of 314.5%[60] Financial Position - The weighted average return on equity was 5.01%, a slight increase of 0.06% year-on-year[7] - The company's equity attributable to shareholders was CNY 3,149,682,060.19, with total equity reaching CNY 3,731,426,171.78[81] - The company's equity remained stable with a total capital stock of CNY 556,000,000.00, unchanged from the previous year[45] Other Financial Metrics - Other income increased by 244.86% to ¥519,530 from ¥150,650 mainly due to increased government subsidies related to production[19] - The company has maintained a strong financial position with a net profit margin improvement, reflecting effective cost management and operational efficiency[53] - The company reported a profit from asset disposal of CNY 5,428,255.06, compared to CNY 0.00 in the previous year, indicating successful asset management strategies[57]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,971,294,794.01, a decrease of 1.15% compared to ¥3,005,908,190.14 in the same period last year[23] - The net profit attributable to shareholders of the listed company was ¥233,078,841.14, an increase of 3.28% from ¥225,670,576.66 in the previous year[23] - The net cash flow from operating activities was ¥551,474,661.57, representing a significant increase of 23.76% compared to ¥445,583,659.00 in the same period last year[23] - The basic earnings per share for the period was ¥0.42, up 2.44% from ¥0.41 in the previous year[23] - Total assets at the end of the reporting period were ¥7,499,211,315.53, an increase of 6.47% from ¥7,043,324,698.01 at the end of the previous year[23] - The net assets attributable to shareholders of the listed company were ¥3,108,832,446.54, a decrease of 1.30% from ¥3,149,682,060.19 at the end of the previous year[23] - The company reported a total investment income of 5,742,199.85 from trading financial assets and derivatives[29] - The company achieved operating revenue of CNY 2,971.29 million, a year-on-year decrease of 1.15%, while net profit attributable to shareholders increased by 3.28% to CNY 233.08 million[52] - The company's total operating revenue for the reporting period was approximately CNY 2.97 billion, a decrease of 1.15% compared to the same period last year[59] - The comprehensive energy business achieved operating revenue of CNY 147.75 million, representing a significant increase of 125.86% year-on-year, accounting for 4.97% of total revenue[63] Investment and Capital Management - The total amount of raised funds is RMB 714.88 million, with RMB 4.06 million invested during the reporting period[92] - Cumulative actual investment from raised funds amounts to RMB 207.57 million[92] - The company has changed the use of raised funds totaling RMB 22.99 million, accounting for 32.16% of the total raised funds[92] - The company has invested RMB 100 million in energy projects, with a 100% ownership stake[78] - The ongoing natural gas pipeline projects have a cumulative actual investment of RMB 581.40 million, with various projects at different completion percentages[82] - The expected revenue from the ongoing projects is RMB 116.96 million, with some projects not meeting planned progress due to external factors[82] - The company has not engaged in any securities or derivative investments during the reporting period[87][88] - The company has established a dedicated account for managing raised funds to enhance efficiency and protect investor rights[94] - The company has increased capital to subsidiaries totaling RMB 397 million since its IPO[95] - The company approved the use of up to RMB 600 million of idle raised funds for cash management, with RMB 483 million in structured deposits and 7-day notice deposits as of June 30, 2020[96] Business Operations and Strategy - The company holds pipeline natural gas exclusive operating rights in 13 regions, including key areas in Guangdong Province[33] - The company has established long-term gas supply contracts with major upstream companies, ensuring stable gas supply[33] - The company aims to expand its comprehensive energy services, enhancing energy efficiency and reducing costs for customers[34] - The company is actively promoting LNG peak shaving storage projects to lower upstream gas source costs and enhance market competitiveness[37] - The company plans to develop new business areas such as energy storage, energy-saving renovations, and waste heat utilization[37] - The company is transitioning from a single gas supply enterprise to a comprehensive energy supplier and solution provider[39] - The company is actively expanding its pipeline gas franchise projects to increase its natural gas sales business scope[42] - The company is focusing on the "coal-to-gas" initiative in high-energy-consuming industries, aiming to meet the growing gas demand in the region[42] - The company has optimized its business segments to better reflect the operational status of different product types and energy categories[68] - The increase in comprehensive energy business revenue and costs was attributed to the company's active expansion into downstream user energy needs[68] Research and Development - The company has over 100 patents and 55 other intellectual properties, with a dedicated R&D team of 341 members, emphasizing technological innovation[43] - The company has implemented advanced technologies such as SCADA and GIS systems, enhancing operational efficiency and customer service[44] - Research and development expenses increased by 296.18% to CNY 50.14 million, reflecting the company's commitment to innovation and technology[59] - The company plans to enhance its core competitiveness by increasing R&D investment in the energy sector[121] Safety and Compliance - The company has conducted 329 safety inspections and identified 401 safety hazards during the reporting period, ensuring a stable operational environment[47] - The company did not experience any major safety production accidents during the reporting period, maintaining a strong safety record[54] - The company is not classified as a key pollutant discharge unit by environmental protection authorities and has complied with relevant environmental laws[184] - The company has no significant litigation or arbitration matters during the reporting period[130] Related Party Transactions - The company reported a related party transaction amounting to 5.06 million yuan for raw material procurement, which accounted for 0.00% of similar transaction amounts[137] - The company engaged in a related party transaction with a total amount of 4.09 million yuan for material procurement, also representing 0.00% of similar transaction amounts[140] - A related party transaction for natural gas sales was recorded at 1,139.75 million yuan, constituting 0.41% of similar transaction amounts[143] - The company provided gas pipeline testing services valued at 56.88 million yuan, which accounted for 0.32% of similar transaction amounts[146] - The company reported a related party transaction for software system services with a value of 47.51 million yuan, representing 0.11% of similar transaction amounts[148] - The total approved transaction amount for related party transactions was 23.61 million yuan, with no transactions exceeding the approved limit[137] - The company’s procurement of raw materials from related parties was based on market prices, ensuring compliance with pricing principles[140] - The company’s related party transactions were primarily settled according to contractual agreements, maintaining market price standards[143] - The company disclosed its related party transactions in compliance with regulatory requirements, ensuring transparency[146] - The company’s related party transactions are expected to continue in the upcoming fiscal periods, reflecting ongoing operational needs[148] Guarantees and Financial Support - The company provided guarantees totaling 39,074,000 CNY to Foshan Natural Gas High Pressure Pipeline Co., Ltd., with a guarantee period from January 9, 2015, to January 8, 2025[169] - The actual guarantee amount for Foshan Natural Gas High Pressure Pipeline Co., Ltd. on April 23, 2018, was 25,239,460 CNY, with a guarantee period until April 22, 2021[169] - The company has a total approved guarantee amount of 301,113,340 CNY as of the end of the reporting period[171] - The actual guarantee amount during the reporting period was 18,139,340 CNY[171] - The total actual guarantee amount accounts for 22.28% of the company's net assets[171] - The company reported no violations regarding external guarantees during the reporting period[175] - The company has a guarantee amount of 5,000,000 CNY for Zhaoqing Natural Gas Co., Ltd., with an actual guarantee amount of 4,392,590 CNY as of April 11, 2019[171] - The company has provided a guarantee of 10,000,000 CNY to Shunde District Port Natural Gas Co., Ltd., with an actual guarantee amount of 2,000,000 CNY as of January 30, 2018[171] - The company has a guarantee amount of 18,000,000 CNY for Enping City Natural Gas Co., Ltd., with an actual guarantee amount of 3,300,000 CNY as of March 15, 2019[171] - The company has a total of 9,415,040 CNY in guarantees for related parties during the reporting period[171] Social Responsibility and Community Engagement - The company has cumulatively paid 570,000 yuan for industrial assistance as part of its poverty alleviation efforts, focusing on industry development, education, and housing[186] - A total of 300,000 yuan has been donated to the Foshan Charity Association for poverty alleviation projects in Liangshan Prefecture[186] - The company plans to donate 350,000 yuan to support agricultural production in the local village, specifically for a vegetable cooperative project[192] - The company has implemented measures to ensure that all assisted villages meet the basic requirements of "no worries about food and clothing" and "guaranteed education and healthcare"[186] - The company has committed to enhancing local party organization construction as part of its poverty alleviation strategy[192] - The company has engaged in consumer poverty alleviation initiatives to help local farmers sell their products and increase their income[192] Debt Financing - The company approved the issuance of debt financing tools up to 3 billion RMB at the 2018 third extraordinary general meeting[193] - The company received registration notices for issuing short-term financing bonds of 1.2 billion RMB and medium-term notes of 400 million RMB in May 2019[193] - The company issued a medium-term note of 200 million RMB in March 2020, with funds received on March 6, 2020[193] - The company issued a short-term financing bond of 400 million RMB in April 2020, with funds received on April 17, 2020[193] - The company issued a second short-term financing bond of 200 million RMB in June 2020, with funds received on June 17, 2020[193]