Financial Performance - For the six months ended June 30, 2021, the revenue was RMB 216,837,000, representing a 215.3% increase compared to RMB 68,762,000 for the same period in 2020[9]. - The gross loss for the period was RMB (3,924,000), a significant decline from a gross profit of RMB 186,000 in the corresponding period of 2020, reflecting a gross loss margin of (1.8%) compared to 0.3%[9][13]. - The total comprehensive loss for the period was RMB (123,572,000), which is a 509.5% increase from RMB (20,273,000) in the prior year[9]. - The loss attributable to owners of the company was RMB (109,896,000), up 466.1% from RMB (19,412,000) in the same period last year[9]. - The operating loss for the period was RMB 128,729,000, compared to a loss of RMB 20,881,000 in the prior year, indicating a substantial increase in losses[19]. - Basic loss per share was RMB 0.030, compared to RMB 0.005 for the same period in 2020, indicating a worsening financial position[19]. - The company reported a net loss of RMB 123,572,000 for the six months ended June 30, 2021, compared to a net loss of RMB 20,273,000 for the same period in 2020[58]. - The company reported a net loss attributable to shareholders of RMB 109,896,000 for the six months ended June 30, 2021, compared to a loss of RMB 19,412,000 for the same period in 2020[67]. Assets and Liabilities - The company's total assets decreased by 25.9% to RMB 441,121,000 from RMB 595,030,000 at the end of 2020[10]. - The net asset value also saw a decline of 34.9%, dropping to RMB 230,977,000 from RMB 354,549,000[10]. - Cash and cash equivalents decreased by 26.4% to RMB 62,915,000 from RMB 85,484,000 at the end of 2020[10]. - Current assets decreased to RMB 354,342,000 from RMB 517,782,000, indicating a reduction in liquidity[22]. - Total liabilities were RMB 210,144,000, down from RMB 240,481,000, suggesting a slight improvement in the company's leverage position[24]. - Equity attributable to owners of the company decreased to RMB 230,977,000 from RMB 354,549,000, reflecting a significant decline in shareholder value[24]. - The company's asset-liability ratio as of June 30, 2021, was 36.1%, up from 27.2% as of December 31, 2020, with net assets decreasing to approximately RMB 231,000,000 from RMB 354,500,000[125]. Cash Flow - Cash used in operating activities was RMB 7,310,000, compared to RMB 18,317,000 for the same period in 2020, representing a 60% improvement[28]. - Cash used in investing activities amounted to RMB 8,611,000, significantly higher than RMB 384,000 in the previous year, indicating increased investment in property, plant, and equipment[28]. - Cash used in financing activities was RMB 5,692,000, a decrease from cash generated of RMB 6,222,000 in the prior year, reflecting changes in financing strategies[28]. - The net decrease in cash and cash equivalents for the period was RMB 21,613,000, compared to RMB 12,479,000 in the same period last year, indicating a larger cash outflow[28]. - As of June 30, 2021, the company reported cash and cash equivalents of RMB 62,915,000, up from RMB 7,152,000 at the end of the previous year[28]. Revenue Sources - Revenue from the LNG trading business for the six months ended June 30, 2021, was RMB 216,593,000, a significant increase from RMB 68,510,000 for the same period in 2020, representing a growth of 216%[50]. - Total revenue for the six months ended June 30, 2021, was RMB 216,837,000, compared to RMB 68,762,000 for the same period in 2020, indicating an increase of 216%[50]. - The company's revenue for the period was approximately RMB 216,800,000, an increase of 215.3% compared to RMB 68,800,000 in the corresponding period, primarily due to the addition of a new LNG supply point in Shanghai[115]. Expenses and Costs - The cost of sales for the same period was RMB 220,761,000, leading to a gross loss of RMB 3,924,000 compared to a gross profit of RMB 186,000 in the previous year[19]. - The sales cost for the new energy business was approximately RMB 220,800,000, up from RMB 68,600,000 in the corresponding period, attributed to increased costs from the new LNG supply point[116]. - Total employee costs decreased to RMB 6,269,000 from RMB 8,410,000 year-on-year, reflecting a reduction of approximately 25.5%[64]. - Administrative expenses decreased by 4.4% to approximately RMB 12,500,000 from RMB 13,000,000 in the corresponding period, due to reduced amortization costs related to share-based payments[118]. Investments and Development - The company has engaged in the development of diversified integrated new energy services, including heat supply and coal-to-gas solutions, indicating a focus on expanding its service offerings[30]. - The company aims to continue developing its LNG business in Shanghai, which is expected to contribute significantly to revenue despite intense price competition[113]. - The company is exploring opportunities to expand into the European market through partnerships, including with Tractebel Engineering S.A. in France[113]. - The company aims to expand its LNG supply network beyond Shanghai and is actively seeking new joint ventures and acquisition opportunities to enhance business growth[126]. Corporate Governance and Compliance - The audit committee reviewed the interim financial results and confirmed compliance with applicable accounting standards[168]. - The company has adopted corporate governance practices in accordance with GEM listing rules[166]. - The external auditor did not identify any significant modifications needed for the interim financial information[168]. Shareholder Information - The company did not declare any dividends for the period[133]. - The company has a share option scheme that allows for the issuance of options not exceeding 30% of the issued share capital[89]. - As of June 30, 2021, the total number of shares involved in unexercised options was 257,280,000, representing 7.1% of the issued shares[92]. - The total number of shares granted to employees during the period was 39,216,000, with an exercise price of HKD 0.289[146].
中华燃气(08246) - 2021 - 中期财报