Financial Performance - Gross amounts from operations for the six months ended September 30, 2020, were RMB 3,398,375, a decrease of 12.3% from RMB 3,877,457 in 2019[2]. - The gross amounts of oil and gas sales contracts were RMB 622,301, down 68.8% from RMB 2,000,124 in the previous year[2]. - The company reported a loss for the period of RMB 35,832, compared to a profit of RMB 24,380 in the same period of 2019[2]. - Total comprehensive expense for the period was RMB 35,839, contrasting with a comprehensive income of RMB 24,051 in 2019[4]. - Basic and diluted loss per share was RMB 0.644, compared to earnings of RMB 0.369 per share in the previous year[4]. - The Group reported a consolidated loss attributable to owners of the Company of approximately RMB42,182,000 for the six months ended 30 September 2020, compared to a profit of RMB24,121,000 for the same period in 2019[24]. - The Group's total comprehensive income for the period was RMB23,792,000, after accounting for other comprehensive income of RMB(329,000)[24]. - The Group experienced a loss after tax of approximately RMB36 million, compared to a profit of approximately RMB24 million in the same period of 2019[96]. - Gross profit for the period ended 30 September 2020 was approximately RMB76 million, down from approximately RMB90 million in the same period of 2019, resulting in a gross profit margin decrease from 2.3% to 2.2%[108]. Revenue and Sales - Total revenue for the six months ended September 30, 2020, amounted to RMB3,398,375,000, a significant increase from RMB3,877,457,000 for the same period in 2019[35]. - Revenue from the production and sales of LNG reached RMB2,524,768,000, while oil and gas transactions generated RMB622,301,000 during the same period[35]. - Other revenue from contracts with customers for the six months ended September 30, 2020, was RMB2,776,074,000, up from RMB1,877,333,000 in the previous year[40]. - Revenue from LNG sales was approximately RMB2,525 million, an increase of approximately RMB842 million or 50% compared to the same period last year, contributing approximately 74.3% of the total turnover[96]. - Revenue from piped gas sales increased to approximately RMB190 million, up approximately RMB14 million or 8% from RMB176 million, contributing approximately 5.6% of total turnover[98]. - Revenue from oil and gas transactions declined to approximately RMB622 million, a decrease of approximately RMB1,378 million or 68.9% from RMB2,000 million[100]. Assets and Liabilities - Current assets totaled RMB 2,833,036, a decrease from RMB 3,589,371 as of March 31, 2020[7]. - Current liabilities amounted to RMB 2,005,670, down from RMB 2,952,998 in the previous period[9]. - Non-current assets were valued at RMB 834,689, a decrease from RMB 858,249 as of March 31, 2020[7]. - The equity attributable to owners of the company was RMB 1,256,567, down from RMB 1,298,756[9]. - The total liabilities as of 30 September 2020 were RMB 827,737, down from RMB 1,207,593 as of 31 March 2020, reflecting a decrease of about 31.4%[80]. - As of 30 September 2020, total trade payables and other liabilities amounted to RMB 1,533,534, a decrease from RMB 2,375,275 as of 31 March 2020, representing a reduction of approximately 35.5%[78]. Cash Flow - The net cash from operating activities for the six months ended 30 September 2020 was RMB49,724,000, while cash used in investing activities was RMB(14,177,000)[21]. - The net increase in cash and cash equivalents for the period was RMB21,784,000, compared to a decrease of RMB(12,841,000) in the same period of the previous year[21]. - The Group's cash and cash equivalents at 30 September 2020 amounted to RMB51,157,000, down from RMB54,491,000 at the same date in 2019[21]. - As at 30 September 2020, the Group's bank balances and cash were approximately RMB51 million, an increase from approximately RMB29 million as of 31 March 2020[117]. Operational Challenges - Loss before tax for the six months ended September 30, 2020, was RMB30,386,000, reflecting challenges in the operational environment[35]. - The management plans to enhance efficiency and reduce costs while seeking profitable trading opportunities amid the challenges posed by low oil prices and the COVID-19 pandemic[101]. Shareholder Information - As of September 30, 2020, Mr. Wang Jianqing holds a beneficial interest in 4,143,827,528 shares, representing 63.31% of the total issued share capital of 6,545,621,131 shares[134]. - Champion Ever Limited, wholly owned by Mr. Wang Jianqing, holds 3,507,323,177 shares, accounting for 53.58% of the total[140]. - Galaxy King Limited, also wholly owned by Mr. Wang Jianqing, possesses 586,486,402 shares, which is 8.96% of the total[140]. - As of September 30, 2020, no other directors or chief executives had any interests or short positions in the shares of the Company[136]. Governance and Compliance - The Company has complied with all applicable code provisions in the Corporate Governance Practices throughout the six months ended September 30, 2020, except for certain deviations[147]. - The roles of chairman and CEO are held by Mr. Wang Jianqing, which the Board believes promotes efficient strategy formulation and implementation[149]. - The interim results for the six months ended September 30, 2020, have been reviewed by the Audit Committee of the Company[157].
元亨燃气(00332) - 2021 - 中期财报