Natural Gas Production and Consumption - For the six months ended June 30, 2023, the Group's natural gas production reached 115.5 billion m³, representing a year-on-year increase of 5.4%[7] - The apparent natural gas consumption in China amounted to 194.9 billion m³, reflecting a year-on-year growth of 6.7%[7] - The first half of 2023 saw a stable growth in both natural gas production and imports, indicating a rebound in the domestic natural gas market[7] - The company anticipates a stable and positive trend in natural gas demand due to socio-economic recovery and favorable energy policies in the second half of 2023[50] Financial Performance - Revenue for the first half of 2023 reached RMB 3,966,651, an increase of 5.9% compared to RMB 3,744,711 in the same period of 2022[13] - Gross profit attributable to owners was RMB 622,106, reflecting a 2.7% increase from RMB 605,712 year-on-year[13] - Basic earnings per share rose to RMB 0.19, up 11.8% from RMB 0.17 in the previous year[13] - Profit attributable to owners of the Company was RMB 187 million, marking a year-on-year increase of 9.1% compared to RMB 171 million for the same period last year[30] - The profit for the period ended June 30, 2023, was RMB 186,651, compared to RMB 171,111 for the same period in 2022, reflecting an increase of 9.1%[105] - The total comprehensive income for the six months ended June 30, 2023, was RMB 197,630, compared to RMB 186,279 for the same period in 2022, showing a growth of 6.8%[105] Revenue Breakdown - Retail business revenue increased by 6.7% to RMB 2,581 million from RMB 2,420 million year-on-year[20] - Wholesale business revenue surged by 50.4% to RMB 621 million from RMB 413 million year-on-year[20] - Revenue from engineering construction services decreased by 22.9% to RMB 566 million from RMB 734 million year-on-year, while revenue from urban gas construction and services increased by 5.2% to RMB 401 million[20] - Revenue from external customers for natural gas retail was RMB 2,581,431,000, while wholesale natural gas revenue was RMB 620,902,000[120] Capital Expenditure and Financing - Capital expenditure for the six months ended June 30, 2023, was RMB 139 million, financed by operating cash flows and bank borrowings[35] - The Group's total borrowings amounted to RMB 7,491 million, with 57.9% classified as non-current liabilities and 42.1% as current liabilities, resulting in a gearing ratio of 62.8%[37] - Interest expense on borrowings for the six months ended June 30, 2023, was RMB 203 million, reflecting a 36.4% increase compared to the same period last year[39] - The Group's financing strategy includes diversified arrangements to lower finance costs and appropriate hedging measures to manage exchange rate risks[38] Social Responsibility and Sustainability - The Group has emphasized its social responsibility in ensuring supply for people's livelihood while focusing on the gas industry[11] - The Group's performance reflects a commitment to the green, low-carbon transformation aligned with national energy policies[6] - The group is committed to integrating green management into its operations to enhance sustainable management levels[56] - The Group is dedicated to fulfilling its social responsibility while advancing its development around greening, marketization, and professionalization[56] Shareholder Information - As of June 30, 2023, Mr. Zhang Yingcen holds a long position of 555,899,300 shares, representing 56.62% of the company's total issued share capital[63] - The company has a significant concentration of ownership, with major shareholders holding substantial percentages of the total issued shares[71] - The company is required to maintain a register under Section 336 of the SFO, which records substantial shareholders' interests[75] Dividends - The Board declared an interim dividend of RMB 6.82 cents per share for the six months ended 30 June 2023[91] - The interim dividend will be paid in Hong Kong dollars on or about 30 November 2023 to shareholders registered by 31 October 2023[91] - The final dividend for the year 2022 was declared at RMB 11.00 cents per share, totaling approximately RMB 89,179,000, down from RMB 148,031,000 in 2021[192] Employee Information - The Group employed 3,007 employees as of June 30, 2023, with a training coverage rate of 100% for all employees[40] - The Group has implemented a transparent compensation management system to motivate employees and enhance long-term growth[40] Market and Industry Developments - The National Development and Reform Commission has initiated measures to implement a price linkage mechanism for natural gas, which is expected to improve market conditions[9] - The ongoing reforms in the oil and gas sector are aimed at stabilizing gas prices and promoting healthy industry development[9] - The Group is actively developing new energy businesses to enhance gas supply capabilities and achieve high-quality development in the gas industry[11] Cash Flow and Liquidity - Cash generated from operations for the six months ended June 30, 2023, was RMB 427,292, compared to a negative RMB 47,447 in the same period of 2022[111] - Net cash generated from operating activities was RMB 325,400, a significant increase from a negative RMB 186,099 in the prior year[111] - Cash and cash equivalents at the end of the period stood at RMB 1,252,876, up from RMB 1,169,751 at the end of June 2022[112]
天伦燃气(01600) - 2023 - 中期财报