Financial Performance - For the six months ended June 30, 2024, the company reported revenue of RMB 44,424,000, an increase from RMB 31,286,000 in the same period of 2023, representing a growth of 42%[4] - The gross profit for the same period was RMB 3,861,000, compared to RMB 3,733,000 in 2023, showing a slight increase of 3%[4] - The company incurred a loss before tax of RMB 4,000,000, which is a significant increase from the loss of RMB 2,832,000 in the previous year, reflecting a deterioration of 41%[4] - The net loss for the period was RMB 4,497,000, compared to RMB 2,832,000 in 2023, indicating an increase in losses of 59%[4] - Basic and diluted loss per share was RMB 2.43 cents, compared to RMB 1.53 cents in the same period last year, representing a 59% increase in loss per share[4] - The total comprehensive loss for the period was RMB 5,478,000, compared to RMB 2,821,000 in 2023, reflecting an increase of 94%[5] - The company reported a foreign exchange loss of RMB 1,958,000 for the period, compared to RMB 1,769,000 in the previous year[5] Operational Costs - The company continues to face challenges in managing operational costs, with administrative expenses rising to RMB 7,722,000 from RMB 6,419,000 in the previous year, an increase of 20%[4] - The cost of goods sold for the six months ended June 30, 2024, was RMB 38,152,000, up from RMB 20,618,000 in 2023, indicating a significant increase in operational costs[23] - Employee costs for the six months ended June 30, 2024, were approximately RMB 2.7 million, compared to RMB 1.9 million for the same period in 2023, reflecting a year-over-year increase of approximately 42.1%[54] Assets and Liabilities - As of June 30, 2024, total non-current assets decreased to RMB 22,695 thousand from RMB 24,972 thousand, representing a decline of approximately 9.1%[6] - Current assets totaled RMB 43,288 thousand, a slight decrease from RMB 44,188 thousand as of December 31, 2023, indicating a reduction of about 2.0%[6] - The company's total liabilities decreased from RMB 9,063 thousand to RMB 8,119 thousand, reflecting a decrease of approximately 10.4%[6] - The company's total assets less current liabilities decreased from RMB 60,097 thousand to RMB 57,864 thousand, a decline of approximately 3.9%[6] - The company's total liabilities as of June 30, 2024, were RMB 8,687,000, a slight decrease from RMB 9,875,000 as of December 31, 2023[16] Cash Flow - The net cash used in operating activities for the six months ended June 30, 2024, was RMB (3,506) thousand, compared to RMB (1,729) thousand for the same period in 2023, indicating a worsening cash flow situation[10] - Cash and cash equivalents at the end of the period were RMB 27,913 thousand, down from RMB 31,281 thousand, a decrease of approximately 10.7%[10] - The company reported a net cash inflow from financing activities of RMB 2,932 thousand, a significant improvement compared to a net outflow of RMB (916) thousand in the previous year[10] Shareholder Information - The company has a total of 183,195,000 shares issued, with Liu Yongcheng and Liu Yongqiang each holding 76,125,000 shares, representing approximately 42.46% of the total issued shares[62] - Liu Yongcheng and Liu Yongqiang are considered to have interests in 56,732,500 shares of Hongsheng Industrial Co., Ltd., which is about 30.97% of the total issued shares[63] - The total beneficial ownership of Yongsheng and Hongsheng combined is 76,125,000 shares, which accounts for 43.36% of the total issued shares[64] - No other directors or key executives have reported interests in the company's shares or related securities as of June 30, 2024[66] Corporate Governance - The company has adopted and complied with the corporate governance code as per the GEM Listing Rules, with the exception of the separation of the roles of Chairman and CEO, which are held by the same individual, Mr. Liu Yongcheng[75] - The Audit and Risk Management Committee, consisting of three independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024[77] - The company confirmed compliance with the trading standards set forth by the GEM Listing Rules during the reporting period[74] Future Plans and Investments - The company has entered into a memorandum of understanding to invest in a target company engaged in natural gas pipeline construction, aiming to enhance revenue from transportation services[43] - The company plans to construct a CNG refueling station, with an estimated cost of HKD 5.2 million, representing 17.9% of the total planned expenditure[59] - The construction of a combined CNG/LNG refueling station is estimated to cost HKD 12.25 million, accounting for 42.0% of the total planned expenditure[59] - The company has submitted applications and discussed approval processes with government officials for additional projects, with plans to conduct feasibility studies upon receiving necessary approvals[60] Stock Options - The company has granted stock options to Liu Yongcheng and Liu Yongqiang for a total of 1,375,000 and 280,900 shares respectively under the stock option plan approved on April 20, 2018[66] - The fair value of the stock options granted during the period is estimated at approximately RMB 4,655,000, with no stock option expenses recognized during the six months ended June 30, 2023[70] - As of June 30, 2024, there are 25,816,009 unexercised stock options, representing about 14.09% of the issued shares as of the report date[71] - The vesting schedule for stock options includes 30% vesting at grant date, another 30% after one year, and the remaining 40% after two years[69]
TL NATURAL GAS(08536) - 2024 - 中期业绩