Financial Performance - The gross amounts from operations for the six months ended September 30, 2021, were RMB 3,630,900, an increase of 6.8% compared to RMB 3,398,375 in the same period of 2020[2]. - The gross amounts of oil and gas sales contracts reached RMB 2,631,496, significantly up from RMB 622,301 in the previous year, indicating a growth of 322%[2]. - The profit for the period attributable to owners of the Company was RMB 38,829, compared to a loss of RMB 42,182 in the same period of 2020[4]. - Total comprehensive income for the period was RMB 70,957, a recovery from a total comprehensive loss of RMB 35,839 in the previous year[4]. - Earnings per share (basic) for the period was RMB 0.593, compared to a loss per share of RMB 0.644 in the same period of 2020[4]. - The Company reported a net profit before tax of RMB 82,508, compared to a loss before tax of RMB 30,386 in the same period of 2020[2]. - The Group reported a consolidated profit attributable to owners of the Company of approximately RMB 38,829,000 for the six months ended 30 September 2021, compared to a loss of RMB 42,182,000 for the same period in 2020[27]. - Profit before taxation for the six months ended September 30, 2021, was RMB 38,829,000, compared to a loss of RMB 42,182,000 for the same period in 2020[64]. - Profit after tax for the period was approximately RMB 70 million, compared to a loss of approximately RMB 36 million in the same period of 2020[90]. Assets and Liabilities - The total current assets as of September 30, 2021, were RMB 2,626,890, a decrease from RMB 2,742,989 as of March 31, 2021[7]. - As of September 30, 2021, the net current assets amounted to RMB 704,386, a decrease from RMB 799,093 as of March 31, 2021, reflecting a decline of approximately 11.9%[9]. - Total equity attributable to owners of the Company increased to RMB 1,341,255 as of September 30, 2021, compared to RMB 1,301,644 as of March 31, 2021, representing a growth of about 3%[9]. - The total liabilities decreased to RMB 1,922,504 as of September 30, 2021, from RMB 1,943,896 as of March 31, 2021, showing a reduction of approximately 1.1%[9]. - The total assets less current liabilities decreased to RMB 1,507,513 as of September 30, 2021, down from RMB 1,614,579 as of March 31, 2021, indicating a decline of approximately 6.6%[9]. - The guaranteed notes increased significantly to RMB 207,664 as of September 30, 2021, compared to RMB 33,988 as of March 31, 2021, marking an increase of over 510%[9]. - Contract liabilities rose to RMB 57,620 as of September 30, 2021, from RMB 34,392 as of March 31, 2021, reflecting a growth of approximately 67.7%[9]. - The lease liabilities due within one year decreased significantly to RMB 135 as of September 30, 2021, from RMB 718 as of March 31, 2021, indicating a decline of about 81.2%[9]. Cash Flow and Investments - Net cash from operating activities increased significantly to RMB 221,506,000 for the six months ended 30 September 2021, up from RMB 49,724,000 in 2020, representing a growth of approximately 345%[23]. - Net cash used in investing activities was RMB (91,490,000) for the six months ended 30 September 2021, compared to RMB (14,177,000) in 2020, indicating increased investment activity[23]. - Net cash used in financing activities rose to RMB (111,301,000) for the six months ended 30 September 2021, compared to RMB (13,763,000) in 2020, reflecting higher financing costs[23]. - Cash and cash equivalents at 30 September 2021 amounted to RMB 65,337,000, an increase from RMB 51,157,000 at the same time in 2020[23]. Revenue and Segment Performance - Total revenue for the Group amounted to RMB 1,038,138,000, a decrease from RMB 2,777,908,000 for the same period last year[44]. - Revenue from wholesale of LNG was RMB 681,551,000, down from RMB 2,524,768,000 in the previous year[47]. - Other revenue from contracts with customers was RMB 999,404,000, down from RMB 2,776,074,000 in the previous year[45]. - The Group's total segment revenue from external customers was RMB 3,630,900,000, a decrease from RMB 3,398,375,000 year-on-year[42]. - Revenue from LNG sales was approximately RMB 682 million, a decrease of approximately RMB 1,843 million or 73% compared to the same period last year[91]. - Revenue from piped gas sales increased to approximately RMB 274 million, representing an increase of approximately RMB 84 million or 44.4% compared to the last period[98]. - Revenue from oil and gas transactions increased to approximately RMB 2,631 million, representing an increase of approximately RMB 2,009 million or 322.9% from the six months ended 30 September 2020[104]. Operational Highlights - The Group's operations include production and sales of LNG, trading of oil and gas contracts, and sales of piped gas, indicating a diversified revenue stream[34]. - The Group's reportable segments focus on the nature of operations, with significant emphasis on wholesale LNG and piped gas sales[34]. - The Group expects steady growth in natural gas demand due to government policies promoting clean production and pollution control[101]. - The management will continue to explore new business opportunities in the natural gas sector to create value for shareholders[107]. - The average selling price of LNG has continued to rise since Q4 2020, contributing to improved gross profit margins[95]. Employee and Corporate Governance - Total staff costs (excluding directors' emoluments) increased to RMB 23,618,000 in 2021 from RMB 16,429,000 in 2020, representing a 43.3% increase[1]. - The Group had approximately 400 employees as of 30 September 2021, with remuneration packages structured based on market conditions[121]. - The Company has complied with all applicable code provisions in the Corporate Governance Practices throughout the six months ended September 30, 2021, except for certain deviations[135]. - The roles of chairman and CEO are held by Mr. Wang Jianqing, which the Board believes promotes efficient strategy formulation and implementation[136]. - The interim results for the six months ended September 30, 2021, have been reviewed by the Audit Committee[143]. Shareholder Information - As of September 30, 2021, Mr. Wang Jianqing holds a long position of 4,238,827,528 shares, representing 64.76% of the total holding[126]. - Champion Ever Limited owns 3,602,323,177 shares, accounting for 55.03% of the total holding[131]. - Galaxy King Limited holds 586,486,402 shares, which is 8.96% of the total holding[131]. - China Construction Bank Corporation has a security interest in 1,770,000,000 shares, representing 27.04% of the total holding[131]. - The total issued share capital of the Company as of September 30, 2021, is 6,545,621,131 shares[132]. - No other directors or chief executives had any interests or short positions in the shares or underlying shares of the Company as of September 30, 2021[128].
元亨燃气(00332) - 2022 - 中期财报