Financial Performance - Revenue for the twelve months ended December 31, 2024, was RMB 89,193,000, a decrease of 52.2% compared to RMB 186,652,000 for the corresponding period in 2023[4] - Gross profit for the same period was RMB 3,536,000, compared to a gross loss of RMB 6,793,000 in the previous year, representing a significant improvement of 152.1%[4] - The total comprehensive loss for the period was RMB 47,125,000, an increase of 1,070.8% from RMB 4,025,000 in the prior year[4] - The company reported a net loss of RMB 47,125,000 for the twelve months ending December 31, 2024, compared to a net loss of RMB 4,025,000 in the previous year[12] - The company reported a basic and diluted loss per share of RMB (0.013), compared to RMB (0.002) in the previous year, reflecting a 550.0% increase in loss per share[4] - The net loss margin for the period was (52.8%), compared to (2.2%) in the prior year[6] - The group reported a foreign exchange loss of RMB (758,000) for the twelve months ended December 31, 2024, compared to a loss of RMB (1,934,000) in 2023, indicating an improvement[27] - The net loss attributable to the company's owners increased from approximately RMB 6,700,000 to approximately RMB 49,100,000, mainly due to reduced provisions for trade receivables and increased share-based payment expenses[89] Assets and Liabilities - The company's net assets increased by 23.9% to RMB 172,564,000 from RMB 139,242,000 year-over-year[4] - Total assets increased by 16.1% to RMB 406,028,000 from RMB 349,670,000 in the previous year[4] - Total liabilities increased to RMB 233,464,000 as of December 31, 2024, compared to RMB 210,428,000 in 2023, representing an increase of approximately 10.5%[10] - The company’s total current liabilities amounted to RMB 231,817,000 as of December 31, 2024, compared to RMB 209,984,000 in 2023, indicating an increase of approximately 10.4%[10] - The company's asset-liability ratio as of December 31, 2024, was 30.7%, a significant decrease from 68.4% on December 31, 2023[99] Cash Flow and Liquidity - Cash and cash equivalents decreased by 64.8% to RMB 69,099,000 from RMB 196,083,000 in the previous year[4] - Cash flow from operating activities showed a net outflow of RMB 129,694,000 in 2024, a significant decrease from a net inflow of RMB 163,232,000 in 2023[14] - The current ratio increased to 1.7 from 1.6 year-over-year, indicating improved liquidity[6] - The company has sufficient cash resources to meet upcoming obligations without requiring repayment of due amounts from shareholders[19] - The company successfully recovered overdue trade receivables, contributing to liquidity improvement measures for the foreseeable future[17] - The company plans to continue monitoring trade receivables closely to enhance cash flow and liquidity in both the short and long term[17] Revenue Sources - For the twelve months ended December 31, 2024, the revenue from LNG sales was RMB 88,057,000, a decrease of 52.5% compared to RMB 185,515,000 for the same period in 2023[26] - The total revenue for the group for the twelve months ended December 31, 2024, was RMB 89,193,000, down from RMB 186,652,000 in 2023, representing a decline of 52.3%[26] - The group’s other income, including rental and operational management services, decreased to RMB 1,374,000 in 2024 from RMB 6,480,000 in 2023, a decline of 78.8%[26] - The group’s investment property rental income was RMB 160,000 for the twelve months ended December 31, 2024, slightly down from RMB 171,000 in 2023[26] Expenses - Administrative expenses increased to RMB (52,354,000) in 2024 from RMB (30,005,000) in 2023, indicating a rise of approximately 74.5%[32] - Financial costs rose by 374.0% to approximately RMB 8,500,000, primarily due to increased interest from other loans and overdue supplier payments[85] - Interest expenses for bank borrowings decreased to RMB 173,000 in 2024 from RMB 232,000 in 2023, reflecting a reduction of 25.4%[28] - The group’s financial costs totaled RMB 8,537,000 for the twelve months ended December 31, 2024, significantly higher than RMB 1,801,000 in 2023, marking an increase of 373.5%[28] Shareholder Information - The total number of shares issued and paid-up as of January 1, 2024, was 3,666,936,000 shares, with an increase to 4,033,624,000 shares by December 31, 2024[50] - The company has a stock option plan that allows for the issuance of options not exceeding 30% of the total issued share capital[56] - As of June 9, 2024, the number of shares involved in the stock options granted under the 2011 plan was 209,480,000, equivalent to 5.7% of the company's issued shares[59] - The total number of employee stock options is 438,800,000, with 352,032,000 options exercised and 86,768,000 options canceled or expired[126] - The company did not declare any dividends for the twelve months ended December 31, 2024, consistent with the previous year[37] Corporate Governance - The audit committee consists of three independent non-executive directors and has reviewed the financial results for the twelve months ending December 31, 2024[145] - The external auditor did not find any significant modifications required for the interim financial information for the twelve months ending December 31, 2024[145] - The company has adopted a code of conduct regarding securities trading by directors, in compliance with GEM listing rules[140] - The company has complied with the corporate governance code throughout the reporting period[141] - The company provides a platform for shareholders to communicate suggestions and opinions during annual and special general meetings[139]
中华燃气(08246) - 2024 - 中期业绩