Financial Performance - For the six months ended June 30, 2021, the company reported revenue of RMB 23,820,000, a decrease of 10.2% compared to RMB 26,572,000 for the same period in 2020[6] - The gross loss for the six months ended June 30, 2021, was RMB 2,752,000, compared to a gross loss of RMB 347,000 for the same period in 2020[6] - The company recorded a net loss of RMB 5,351,000 for the six months ended June 30, 2021, compared to a net loss of RMB 5,278,000 for the same period in 2020[8] - The total comprehensive income for the period was RMB (4,513,000), which includes a loss of RMB (5,278,000) from other comprehensive income[14] - The pre-tax loss for the six months ended June 30, 2021, was RMB 5,351,000, compared to a loss of RMB 5,278,000 for the same period in 2020[35] - Basic loss per share for the six months ended June 30, 2021, was RMB 0.80, a decrease from RMB 0.89 for the same period in 2020[35] - The company reported a loss attributable to owners of approximately RMB 5.4 million for the six months ended June 30, 2021, compared to a net loss of approximately RMB 5.3 million in the same period last year, indicating stability[63] Assets and Liabilities - Total assets as of June 30, 2021, amounted to RMB 94,409,000, a slight decrease from RMB 100,387,000 as of December 31, 2020[10] - The total liabilities of the company as of June 30, 2021, were RMB 20,656,000, reflecting a decrease from previous periods[14] - Total trade receivables as of June 30, 2021, were RMB 10,878,000, down from RMB 19,347,000 as of December 31, 2020[39] - The company’s non-current assets in China amounted to RMB 52,470,000 as of June 30, 2021, compared to RMB 50,916,000 as of December 31, 2020[23] Cash Flow - The company’s cash and cash equivalents were RMB 15,469,000 as of June 30, 2021, compared to RMB 6,226,000 as of December 31, 2020[10] - For the six months ended June 30, 2021, the net cash generated from operating activities was RMB 17,328,000, compared to RMB 3,110,000 for the same period in 2020, representing a significant increase[17] - The company reported a net increase in cash and cash equivalents of RMB 9,681,000, bringing the total to RMB 15,469,000 at the end of the period[17] Equity - The total equity attributable to the owners of the parent company increased to RMB 87,537,000 as of June 30, 2021, from RMB 87,301,000 as of December 31, 2020[12] - The total equity attributable to the owners of the parent company increased to RMB 106,440,000 as of June 30, 2021, up from RMB 83,364,000 at the beginning of the year[14] - As of June 30, 2021, the total equity of the group was approximately RMB 875 million, with cash and cash equivalents of approximately RMB 155 million[69] Expenses - The company’s administrative expenses decreased to RMB 3,083,000 for the six months ended June 30, 2021, from RMB 7,433,000 for the same period in 2020[6] - The company’s sales and distribution expenses were RMB 296,000 for the six months ended June 30, 2021, down from RMB 404,000 for the same period in 2020[6] - The depreciation expense for property, plant, and equipment for the six months ended June 30, 2021, was RMB 2,186,000, slightly up from RMB 2,113,000 in the same period of 2020[28] - The group employed 69 employees as of June 30, 2021, with employee costs amounting to approximately RMB 2.5 million for the six months ended June 30, 2021, down from RMB 4.2 million in the same period last year[76] Revenue Sources - Revenue from CNG sales and automatic car wash services for the six months ended June 30, 2021, was RMB 23,820,000, an increase of 22.5% compared to RMB 19,392,000 for the same period in 2020[26] - Revenue from wholesale CNG sales increased from approximately RMB 10.9 million to RMB 14.0 million, a rise of about RMB 3.1 million or 28.4%[55] - Revenue from retail CNG sales rose from approximately RMB 8.5 million to RMB 9.8 million, an increase of about RMB 1.3 million or 15.3%[55] - The company did not generate any revenue from automatic car wash services during the six months ended June 30, 2021[56] Business Strategy - The company plans to continue exploring opportunities for market expansion and new product development in the upcoming periods[6] - The company is actively exploring new business opportunities in China and other regions to diversify its revenue sources[66] - The company plans to seek relocation opportunities following the planned demolition of a gas station, which is expected to yield compensation of approximately RMB 3.3 million[49] Corporate Governance - The company has adopted and complied with the corporate governance code as per GEM Listing Rules, with a noted deviation regarding the separation of the roles of Chairman and CEO[133] - The board of directors includes three executive directors and three independent non-executive directors as of the report date[138] - The Audit and Risk Management Committee has been established, consisting of three independent non-executive directors, and has reviewed the unaudited consolidated financial statements for the six months ending June 30, 2021[135] Share Capital and Options - As of June 30, 2021, the company had a total of 709,020,000 shares issued, with major shareholders holding significant stakes, including 375,000,000 shares (54.76%) by Yongsheng and Hongsheng[115][116] - The company has a stock option plan approved by shareholders on April 20, 2018, with details provided in the annual report for the year ending December 31, 2020[122] - The fair value of the stock options granted during the period is estimated at approximately RMB 4,655,000, with the company recognizing an expense of RMB 833,000 during the period[125] - The company has a stock option plan where 30% of the options vest immediately, another 30% after one year, and the remaining 40% after two years[124] Compliance and Risks - The company confirmed compliance with the trading standards set forth in the GEM Listing Rules during the reporting period[129] - The board will continue to assess the impact of COVID-19 on the group's operations and financial performance, monitoring risks and uncertainties closely[66] - Forward-looking statements regarding the company's financial condition and operational performance have been made, acknowledging known and unknown risks[137]
TL NATURAL GAS(08536) - 2021 - 中期财报