Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 2,291,301 thousand, representing a 41% increase from RMB 1,625,571 thousand in the same period of 2020[5] - Gross profit for the same period was RMB 327,150 thousand, up from RMB 210,555 thousand, resulting in a gross margin of 14% compared to 13% in 2020[5] - Net profit for the period was RMB 115,956 thousand, significantly higher than RMB 49,490 thousand in the prior year, marking a 134% increase[5] - Profit attributable to equity shareholders was RMB 113,502 thousand, compared to RMB 50,848 thousand in the previous year, reflecting a substantial growth[5] - Operating profit for the six months was RMB 175,464 thousand, compared to RMB 84,958 thousand in the same period of 2020[8] - The total comprehensive income for the period was RMB 116,116 thousand, significantly higher than RMB 50,632 thousand in the prior year[10] - The company reported a basic and diluted earnings per share of RMB 0.30 for the first half of 2021, compared to RMB 0.15 in the same period of 2020[8] - The company reported a profit of RMB 50,848 thousand for the six months ended June 30, 2021, compared to a loss in the previous period[15] - Comprehensive income for the period totaled RMB 52,016 thousand, demonstrating a significant recovery from previous losses[15] - The net profit before tax for the six months ended June 30, 2021, was RMB 157,427,000, significantly higher than RMB 67,317,000 for the same period in 2020, reflecting an increase of approximately 133.3%[33] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 1,395,927 thousand, an increase from RMB 1,273,135 thousand at the end of 2020[6] - The company’s net assets increased to RMB 384,393 thousand as of June 30, 2021, from RMB 285,109 thousand at the end of 2020[6] - As of June 30, 2021, total non-current assets amounted to RMB 720,881 thousand, slightly down from RMB 722,867 thousand as of December 31, 2020[12] - Current assets increased to RMB 675,046 thousand from RMB 550,268 thousand, with inventory rising significantly to RMB 140,891 thousand from RMB 111,976 thousand[12] - Current liabilities decreased to RMB 623,301 thousand from RMB 621,075 thousand, with trade payables slightly down to RMB 87,556 thousand from RMB 90,139 thousand[12] - Non-current liabilities rose to RMB 388,233 thousand from RMB 366,951 thousand, primarily due to an increase in lease liabilities[12] - The total equity attributable to shareholders increased to RMB 350,414 thousand from RMB 253,605 thousand, indicating a robust financial position[13] - Total assets less current liabilities increased to RMB 772,626 thousand from RMB 652,060 thousand[12] Cash Flow - Cash generated from operating activities was RMB 91,251,000, a decrease of 62.5% from RMB 243,479,000 in the same period last year[17] - The net cash from operating activities was RMB 52,182,000, down 76.1% from RMB 218,334,000 in the previous year[17] - The company incurred a net cash outflow from investing activities of RMB 7,015,000, compared to RMB 19,037,000 in the same period last year[17] - The net cash used in financing activities was RMB 83,641,000, a decrease of 29.0% from RMB 117,887,000 in the previous year[17] - As of June 30, 2021, cash and cash equivalents decreased to RMB 73,113,000 from RMB 147,856,000 at the beginning of the period[17] Revenue Breakdown - Revenue from retail sales of refined oil and natural gas was RMB 2,265,700 thousand, up from RMB 1,600,586 thousand, indicating a growth of 41.4%[27] - Revenue from transportation services amounted to RMB 24,620 thousand, an increase from RMB 19,645 thousand, reflecting a growth of 25.3%[27] - The sales revenue from refined oil reached approximately RMB 2,160.7 million, up approximately 44%, accounting for 94% of total revenue during the same period[74] - Natural gas sales revenue was approximately RMB 106.0 million, a year-on-year increase of about 5%, representing about 5% of total revenue[75] Employee and Operational Costs - Employee costs rose to RMB 77,980,000 in the first half of 2021, compared to RMB 65,499,000 in the same period of 2020, which is an increase of approximately 18.9%[37] - The total depreciation expenses for the first half of 2021 amounted to RMB 40,557,000, up from RMB 34,819,000 in the same period of 2020, indicating an increase of approximately 16.4%[36] - Financing costs increased to approximately RMB 18.7 million for the six months ended June 30, 2021, from RMB 9.1 million in the same period of 2020[85] Shareholder Information - As of June 30, 2021, Mr. Zhao holds 209,829,240 shares, representing 56.03% of the company's equity[104] - Major shareholders include Golden Truth with 56.03% and Rui Shan with 19.17% of the company's equity[108] - The company has a share option plan allowing for the issuance of up to 10% of the total issued shares, equivalent to 23,450,200 shares[111] - The total number of shares that may be issued upon the exercise of all outstanding options cannot exceed 30% of the total issued shares[111] Corporate Governance - The company has complied with all provisions of the corporate governance code during the reporting period, with exceptions noted for attendance at the annual general meeting[113] - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2021, and confirmed compliance with applicable accounting standards[114] - The remuneration committee is responsible for reviewing the remuneration of directors and senior management, with current members including both executive and independent non-executive directors[115] - The nomination committee is tasked with reviewing the board's structure and identifying suitable candidates for board membership[116]
众诚能源(02337) - 2021 - 中期财报