Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 3,839,411 thousand, representing a 20.6% increase from RMB 3,184,044 thousand in the same period of 2023[14] - Gross profit for the same period was RMB 212,028 thousand, up from RMB 172,608 thousand, resulting in a gross margin of 6% compared to 5% in 2023[14] - Net profit for the period was RMB 27,940 thousand, significantly higher than RMB 7,147 thousand in the previous year, indicating a strong growth trajectory[14] - Earnings per share (basic and diluted) increased to RMB 0.07 from RMB 0.02 year-over-year[14] - The company reported operating profit of RMB 55,242 thousand, up from RMB 25,440 thousand in the same period last year[16] - The total comprehensive income for the period was RMB 28,833 thousand, compared to RMB 10,345 thousand in 2023[17] - The company reported a profit of RMB 26,970 thousand for the six months ended June 30, 2024[24] - Other comprehensive income for the period was RMB 916 thousand, contributing to a total comprehensive income of RMB 27,886 thousand[24] - Profit before tax increased by approximately RMB 31.5 million to about RMB 42.1 million, compared to RMB 10.6 million for the same period in 2023[84] - Net profit for the six months ended June 30, 2024, was approximately RMB 27.9 million, an increase of about RMB 20.8 million compared to RMB 7.1 million in the same period last year[86] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 1,681,263 thousand, down from RMB 1,914,596 thousand at the end of 2023[14] - Current liabilities decreased to RMB 892,128 thousand, down 21.8% from RMB 1,140,694 thousand at the end of 2023[19] - The net value of current assets increased to RMB 231,278 thousand, up 20.3% from RMB 192,271 thousand as of December 31, 2023[19] - Non-current liabilities rose to RMB 275,554 thousand, an increase of 5.5% from RMB 261,795 thousand at the end of 2023[19] - The company's total equity reached RMB 513,581 thousand, slightly up from RMB 512,107 thousand as of December 31, 2023[20] - The debt ratio as of June 30, 2024, was approximately 69%, down from 73% as of December 31, 2023[89] Cash Flow - Cash and cash equivalents increased to RMB 70,077 thousand, up from RMB 46,517 thousand at the end of 2023[19] - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB 49,387 thousand, slightly up from RMB 48,871 thousand in 2023[25] - The net cash used in investing activities was RMB (3,926) thousand, significantly improved from RMB (29,311) thousand in the same period of 2023[25] - The group reported a net increase in cash and cash equivalents of RMB 23,488 thousand for the six months ended June 30, 2024, compared to RMB 24,868 thousand in 2023[25] - The group’s financing activities resulted in a net cash outflow of RMB (21,973) thousand, contrasting with a net inflow of RMB 5,308 thousand in the same period of 2023[25] Revenue Breakdown - Revenue from the sale of refined oil and natural gas reached RMB 3,790,626 thousand for the six months ended June 30, 2024, compared to RMB 3,150,615 thousand in 2023, marking an increase of 20.3%[30] - Revenue from transportation services was RMB 37,807 thousand, up from RMB 33,387 thousand in the previous year, reflecting an increase of 13.5%[30] - The revenue from the sale of refined oil was RMB 3,675,855 thousand, while the sale of natural gas generated RMB 140,876 thousand, and transportation services contributed RMB 64,382 thousand[36] - The company’s refined oil sales accounted for approximately 95% of total revenue in the first half of 2024[73] Expenses - Employee costs increased to RMB 83,108 thousand from RMB 81,671 thousand year-on-year, showing a rise of approximately 1.8%[42] - Depreciation expenses decreased to RMB 32,652 thousand from RMB 37,422 thousand, marking a reduction of about 13%[43] - Other operating expenses rose by 20% to approximately RMB 43.6 million, primarily due to increased legal and professional fees as well as rental expenses[82] - The cost of goods purchased increased to RMB 1,453,303,000 for the six months ended June 30, 2024, compared to RMB 1,114,166,000 in the prior year, reflecting a rise of about 30%[66] Shareholder Information - As of June 30, 2024, Mr. Zhao holds 209,829,240 shares, representing 56.03% of the company's equity, while Mr. Liu holds 27,287,600 shares, representing 7.29%[99] - Major shareholders include Golden Truth with 56.03% and Ruishan with 19.17% of the company's shares[103] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year where no dividend was paid[60] - A special dividend of HKD 0.08 per share was approved, amounting to approximately HKD 30 million based on 374,502,000 issued ordinary shares[111] Corporate Governance - The company has complied with all corporate governance codes except for the dual role of the Chairman and CEO held by Mr. Zhao since December 31, 2020[106] - The audit committee, consisting of independent non-executive directors, reviews the financial reporting and risk management systems[107] - The interim financial report for the six months ending June 30, 2024, was reviewed by KPMG and deemed compliant with applicable accounting standards[108] - The remuneration committee is responsible for reviewing the compensation of directors and senior management, with members including executive director Liu Yingwu and independent non-executive directors Zhang Zhifeng and Su Dan[109] - The nomination committee is tasked with reviewing the board's structure and composition, with members including executive director Ma Haidong and independent non-executive directors Su Dan and Zhang Zhifeng[110]
众诚能源(02337) - 2024 - 中期财报