Financial Performance - For the three months ended September 30, 2021, the revenue was RMB 10,080,000, a decrease of 11% compared to RMB 11,325,000 in the same period of 2020[6] - The gross loss for the three months was RMB 1,245,000, compared to a gross profit of RMB 3,331,000 in the same period of 2020[6] - The total loss for the period was RMB 2,785,000, a slight improvement from a loss of RMB 3,000,000 in the same period of 2020[7] - The basic and diluted loss per share for the three months was RMB (1.57), compared to RMB (1.81) in the same period of 2020[6] - For the nine months ended September 30, 2021, the total revenue was RMB 33,900,000, a decrease of 10% from RMB 37,897,000 in the same period of 2020[6] - The total comprehensive loss for the nine months was RMB 8,226,000, compared to RMB 8,591,000 in the same period of 2020[7] - The total comprehensive loss for the nine months ended September 30, 2021, was RMB 8,591,000, compared to a loss of RMB 8,278,000 for the same period in 2020[9] - Basic loss per share for the nine months ended September 30, 2021, was RMB 4.75, compared to RMB 5.36 for the same period in 2020[29] - The company reported a loss attributable to owners of approximately RMB 8.1 million for the nine months ended September 30, 2021, compared to a net loss of approximately RMB 8.3 million for the same period in 2020[45] Revenue Sources - Major customer A contributed RMB 12,401,000 in revenue for the nine months ended September 30, 2021, compared to RMB 6,727,000 in the same period of 2020, reflecting an increase of 84.5%[21] - Major customer B generated RMB 6,280,000 in revenue for the nine months ended September 30, 2021, down from RMB 12,792,000 in the same period of 2020, indicating a decline of 50.9%[21] - Revenue from retail customers for CNG sales decreased by RMB 2.7 million or 17.4% to RMB 128 million for the nine months ended September 30, 2021, primarily due to a decline in CNG sales volume and average selling price[35] - Revenue from wholesale customers for CNG sales increased by RMB 2.1 million or 11.1% to RMB 211 million for the nine months ended September 30, 2021, driven by an increase in sales volume and a slight rise in average selling price[35] - For the nine months ended September 30, 2021, the group generated no revenue from automatic car wash services[37] Expenses and Costs - The company reported a financing cost of RMB 133,000 for the three months, down from RMB 262,000 in the same period of 2020[6] - The administrative expenses for the three months were RMB 1,734,000, a decrease from RMB 3,139,000 in the same period of 2020[6] - The cost of goods sold for the nine months ended September 30, 2021, was RMB 28.3 million, an increase from RMB 25.8 million in the same period of 2020[23] - Cost of sales for the nine months ended September 30, 2021, was approximately RMB 37.9 million, an increase of about RMB 3.2 million or 9.2% compared to RMB 34.7 million for the same period in 2020[38] - Selling and distribution expenses decreased by approximately RMB 281,000 or 38.0% to RMB 458,000 for the nine months ended September 30, 2021, compared to RMB 739,000 for the same period in 2020[41] - Administrative expenses decreased by approximately RMB 5.8 million or 54.7% to RMB 4.8 million for the nine months ended September 30, 2021, compared to RMB 10.6 million for the same period in 2020[43] Assets and Equity - The total non-current assets in China as of September 30, 2021, were RMB 48,137,000, a decrease from RMB 50,916,000 as of December 31, 2020, representing a decline of 5.5%[19] - The company’s total equity as of September 30, 2021, was RMB 84,862,000, down from RMB 87,301,000 as of January 1, 2021, indicating a decrease of approximately 2.5%[9] Corporate Governance and Compliance - The company has not reported any significant changes in accounting policies that would materially affect the financial statements for the nine months ended September 30, 2021[17] - The company confirmed that all directors complied with the trading compliance standards during the nine months ended September 30, 2021[69] - The company has adopted and complied with the corporate governance code as per GEM Listing Rules, with some deviations noted regarding the separation of roles between the Chairman and CEO[74] - The company is actively seeking suitable candidates to meet the GEM Listing Rules requirements for independent non-executive directors following recent resignations[76] - The audit and risk management committee consists of two independent non-executive directors who reviewed the unaudited consolidated financial statements for the nine months ended September 30, 2021[78] Future Plans and Strategies - The company plans to continue exploring market expansion opportunities and new product development strategies moving forward[6] - The company is exploring new business opportunities in China and other regions to diversify its revenue sources[48] - The company entered into a memorandum of understanding with Guangzhou Ruichuang New Energy Technology Co., Ltd. to collaborate on electric vehicle charging business in Guangzhou[52] Shareholder Information - The total issued shares as of September 30, 2021, were 177,255,000, with major shareholders holding significant stakes, including Liu Yongcheng and Liu Yongqiang, each owning approximately 53.82% of the shares[54] - Liu Yongcheng directly owned 100% of Yongsheng Industrial Co., which held 27,187,500 shares, representing about 15.34% of the issued shares[55] - Liu Yongqiang directly owned 100% of Hongsheng, which held 66,562,500 shares, representing about 37.55% of the issued shares[57] - Major shareholders include Yongsheng and Hongsheng, each holding 93,750,000 shares, which is approximately 54.76% of the total issued shares[58] - The company has a stock option plan approved by shareholders, which was adopted on April 20, 2018[59] - The fair value of share options granted during the period was estimated at approximately RMB 4,655,000, with RMB 1,063,000 recognized as share option expenses during the period[65] - The exercise price of share options granted on January 21, 2020, was adjusted from HKD 0.166 to HKD 0.664 due to a share consolidation effective July 20, 2021[67] - The exercise price of share options granted on June 23, 2020, was adjusted from HKD 0.130 to HKD 0.520 due to the same share consolidation[67] - As of January 1, 2021, a total of 109,500,000 share options were granted to directors, executives, and major shareholders[63] - As of September 30, 2021, the company had 25,816,009 unexercised share options, representing approximately 14.56% of the issued shares as of the report date[68] Employee Information - As of September 30, 2021, the group employed a total of 68 employees, with employee costs for the nine months ending September 30, 2021, approximately RMB 3.5 million, a decrease from RMB 6.1 million for the same period in 2020[53] - The employee performance is regularly reviewed, and training is provided to enhance skills[53] - The company continues to assess market compensation and employee contributions when determining salaries[53] - There are no other directors or key executives with recorded interests in the company's shares as of September 30, 2021[58]
TL NATURAL GAS(08536) - 2021 Q3 - 季度财报