Financial Performance - For the six months ended June 30, 2024, revenue increased by approximately 21% to approximately RMB 3,839.4 million, compared to RMB 3,184.0 million for the same period in 2023[1] - Profit attributable to equity shareholders increased by approximately 322% to approximately RMB 27.0 million, compared to RMB 6.4 million for the same period in 2023[1] - Basic earnings per share for the six months ended June 30, 2024, was approximately RMB 0.07, compared to RMB 0.02 for the same period in 2023[1] - Operating profit for the six months ended June 30, 2024, was RMB 55.2 million, compared to RMB 25.4 million for the same period in 2023[3] - Total comprehensive income for the six months ended June 30, 2024, was RMB 28.8 million, compared to RMB 10.3 million for the same period in 2023[4] - The company reported a total revenue of RMB 3,839,411 thousand for the first half of 2024, compared to RMB 3,184,044 thousand in the same period of 2023, reflecting an overall growth of 20.6%[12] - The group’s total revenue for the first half of 2024 was approximately RMB 3,839.4 million, an increase of approximately RMB 655.4 million or about 21% compared to the same period in 2023[35] - The group’s gross profit for the first half of 2024 was approximately RMB 212.0 million, with a gross profit margin of approximately 6%, up from 5% in the same period last year[36] - The group’s net profit for the first half of 2024 was approximately RMB 27.9 million, an increase of approximately RMB 20.8 million compared to RMB 7.1 million in the same period of 2023[44] Revenue Breakdown - The company reported a revenue of approximately RMB 3,660.7 million from refined oil sales, representing a 21% increase year-on-year, with sales volume reaching approximately 493,000 tons, up 23% from the previous year[31] - The company’s revenue from the sale of refined oil and natural gas reached RMB 3,790,626 thousand for the six months ended June 30, 2024, an increase of 20.4% compared to RMB 3,150,615 thousand for the same period in 2023[12] - Revenue from transportation services amounted to RMB 37,807 thousand, up 13.3% from RMB 33,387 thousand in the previous year[12] - Natural gas sales recorded revenue of approximately RMB 140.9 million, an increase of about 9%, accounting for approximately 4% of total revenue for the first half of 2024[32] - Transportation services generated revenue of approximately RMB 37.8 million, an increase of about 13%, accounting for approximately 1% of total revenue[34] Assets and Liabilities - Non-current assets as of June 30, 2024, amounted to RMB 557.9 million, a decrease from RMB 581.6 million as of December 31, 2023[5] - Current assets as of June 30, 2024, totaled RMB 1,123.4 million, down from RMB 1,332.9 million as of December 31, 2023[5] - Current liabilities as of June 30, 2024, were RMB 892.1 million, compared to RMB 1,140.7 million as of December 31, 2023[6] - The net asset value as of June 30, 2024, was RMB 513.6 million, slightly up from RMB 512.1 million as of December 31, 2023[6] - As of June 30, 2024, trade receivables from third parties increased to RMB 47,665 thousand, up 45.7% from RMB 32,710 thousand as of December 31, 2023[24] - Trade payables to third parties surged to RMB 33,228 thousand, compared to RMB 7,160 thousand as of December 31, 2023, marking a significant increase of 363.5%[26] Costs and Expenses - The company reported a decrease in financing costs to RMB 13,696 thousand for the six months ended June 30, 2024, down from RMB 15,486 thousand in the same period of 2023, a reduction of about 11.5%[18] - Employee costs increased to RMB 83,108 thousand for the six months ended June 30, 2024, compared to RMB 81,671 thousand in the same period of 2023, marking a rise of approximately 1.8%[18] - The depreciation expense for the six months ended June 30, 2024, was RMB 32,652 thousand, down from RMB 37,422 thousand in the same period of 2023, indicating a decrease of about 13%[19] - The company’s total inventory cost for the six months ended June 30, 2024, was RMB 3,620,297 thousand, compared to RMB 2,998,612 thousand in the same period of 2023, reflecting an increase of approximately 20.7%[19] - The company’s deferred tax provision for the six months ended June 30, 2024, was RMB 14,130 thousand, compared to RMB 3,430 thousand in the same period of 2023, indicating a significant increase of approximately 311.5%[21] Strategic Focus and Market Outlook - The report indicates that the company is focused on expanding its retail and transportation services in the energy sector[11] - The company plans to optimize its natural gas and oil distribution and transportation businesses, focusing on the development of new energy vehicle charging stations and infrastructure in Northeast China[57] - The company anticipates strong growth in transportation gas demand, potentially increasing by around 4 billion cubic meters annually[30] - The international energy agency forecasts that global oil demand will peak around 2028 due to domestic carbon emission control policies and the acceleration of electric vehicle adoption in China[56] - The company anticipates a significant increase in LNG demand for urban gas peak shaving as winter heating season approaches, despite pressure on industrial and power generation LNG demand due to high prices[55] Governance and Compliance - The company has adhered to the corporate governance code and has established an audit committee to review financial reporting, risk management, and internal control systems[58][59] - The interim financial report for the six months ending June 30, 2024, has been reviewed by independent auditors and complies with applicable accounting standards[60] - The board of directors confirmed adherence to the standard code of conduct for securities trading as of June 30, 2024[61] - The company has maintained sufficient public float since its initial public offering[63] Employee and Operational Information - As of June 30, 2024, the group had 1,468 employees and provided various insurance and retirement benefits in accordance with applicable laws[52] - The company did not recommend the payment of interim dividends for the six months ending June 30, 2024, consistent with the previous year where no dividends were paid[27] - There were no significant investments, acquisitions, or disposals reported for the six months ended June 30, 2024[53]
众诚能源(02337) - 2024 - 中期业绩