中国油气控股(00702) - 2024 - 年度业绩

Supplementary Announcement Overview This announcement provides supplementary details for China Oil and Gas Holdings Limited's 2023 annual report, focusing on loan receivables and the Sanjiao CBM project impairment loss Purpose and Scope of Announcement This announcement provides supplementary information for China Oil and Gas Holdings Limited's 2023 annual report, detailing loan receivables and impairment loss on the Sanjiao CBM project - This announcement is a supplement to China Oil and Gas Holdings Limited's annual report for the year ended December 31, 2023[1] - Supplementary information primarily concerns loan receivables and an HK$866.8 million impairment loss on the Sanjiao CBM project disclosed in Note 25 of the consolidated financial statements[1] Key Supplementary Information Disclosure This section details the company's outstanding loan receivables and the significant impairment loss recognized for the Sanjiao CBM project, outlining its causes and financial impact Loan Receivables Status As of December 31, 2023, the company's total outstanding loan receivables amounted to HK$21,774,000, all unsecured and unguaranteed Loan Receivables as of December 31, 2023 | Indicator | Amount (HKD) | Remarks | | :--- | :--- | :--- | | Total Outstanding Loan Receivables | 21,774,000 | Unsecured or Unguaranteed | Analysis of Impairment Loss on Sanjiao CBM Project An HK$866.8 million impairment loss on the Sanjiao CBM project is attributed to extended development, revised production forecasts, and a reduced natural gas price growth rate Sanjiao CBM Project Impairment Loss and Impact | Indicator | Amount/Change | Remarks | | :--- | :--- | :--- | | Impairment Loss | Approx. 866,800,000 HKD | | | Reduction in Forecast Production (First 3 Years) | Up to 45% | Compared to 2022 plan | | Natural Gas Price Growth Rate Change | From 3% to 2% | | | 5-Year Estimated Total Revenue Decrease | 23% | From RMB 5.483 billion to RMB 4.240 billion | - The primary cause of the impairment loss is the uncertainty of the restructuring transaction completion and lack of funding, leading to extended project development time[3] - The revised 2023 development plan projects a reduction of up to 45% in forecast production for the first three years, significantly impacting the project's present value[3] - The expected natural gas price growth rate was revised downwards from 3% to 2%, further contributing to the decline in the project's fair value[3] Board and Company Information This section provides an overview of the company's Board of Directors, including its composition and key leadership as of the announcement date Board Member Composition As of the announcement date, the company's board comprises nine members: two executive, four non-executive, and three independent non-executive directors, chaired by Dr. Dai Xiaobing - The Chairman of the Board is Dr. Dai Xiaobing[4] - The Board of Directors includes 2 executive directors, 4 non-executive directors, and 3 independent non-executive directors[4] - The announcement date is September 10, 2024[4]