Financial Performance - The company recorded revenue of RMB 963 million for the year ending December 31, 2024, an increase of approximately RMB 183 million or 23.5% compared to 2023[14] - The net loss for the year decreased by 57.5% to RMB 99 million from RMB 233 million in 2023[14] - The company's total revenue increased by approximately RMB 18.3 million or 23.5% to about RMB 96.3 million for the year ending December 31, 2024, compared to approximately RMB 78.0 million for the previous year[20] - Retail business revenue decreased by approximately RMB 4.5 million or 26.5% to about RMB 12.5 million, accounting for 13.0% of total revenue, primarily due to the shift towards electric vehicles[23] - Wholesale business revenue decreased by approximately RMB 4.1 million or 11.1% to about RMB 32.7 million, representing 33.9% of total revenue, attributed to reduced CNG sales[23] - LNG sales revenue surged by approximately RMB 27.2 million or 112.9% to about RMB 51.3 million, making up 53.3% of total revenue, driven by increased local community demand[24] Impairment and Losses - The company recognized an impairment loss of RMB 155 million, primarily related to properties, plant, and equipment, as well as four serviced apartment units in Malaysia[14] - The company recognized impairment losses of approximately RMB 1.1 million on property, plant, and equipment[29] - The company recorded a non-current asset impairment loss of approximately RMB 14.3 million related to property prepayments in Malaysia[30] - The company reported a loss attributable to owners of approximately RMB 9.7 million for the year, a decrease of RMB 13.3 million or 57.8% compared to the previous year's loss of RMB 23.0 million[38] Expenses and Costs - The company's cost of sales rose by approximately RMB 17.7 million or 25.1% to about RMB 88.2 million, mainly due to increased LNG sales leading to higher inventory costs[25] - Gross profit increased by approximately RMB 0.6 million to about RMB 8.1 million, with a gross margin decrease from 9.6% to 8.4% due to high procurement costs[26] - Administrative expenses increased by approximately RMB 2.9 million or 23.0% to RMB 15.5 million, primarily due to legal and professional fees related to the Malaysian property and increased employee costs from hiring senior management[33] Cash and Equity - The company's total equity as of December 31, 2024, was approximately RMB 53.3 million, down from RMB 59.3 million as of December 31, 2023[40] - Cash and cash equivalents as of December 31, 2024, were approximately RMB 29.4 million, compared to RMB 28.4 million as of December 31, 2023[40] - As of December 31, 2024, the company has distributable reserves of approximately RMB 573 million, slightly down from RMB 576 million the previous year[90] Business Strategy and Future Plans - The company is optimistic about the growth of natural gas consumption in China, supported by government policies promoting clean energy and pollution control[39] - The company will continue to explore new business opportunities to diversify its revenue sources and enhance shareholder value[39] - The company plans to construct a CNG refueling station and a comprehensive CNG/LNG refueling station, with expected completion by the end of 2025[57] - The company will continuously evaluate its business objectives and may adjust plans based on changing market conditions[60] Shareholder Information - The total number of issued shares is 183,195,000[101] - Mr. Liu Yongcheng holds 76,125,000 shares, representing approximately 42.46% of the issued shares[101] - Mr. Liu Yongqiang also holds 76,125,000 shares, representing approximately 42.46% of the issued shares[101] - The beneficial ownership of Yongsheng Industrial Limited is 19,392,500 shares, approximately 10.59% of the issued shares[105] - The beneficial ownership of Hongsheng Industrial Limited is 56,732,500 shares, approximately 30.97% of the issued shares[105] Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors, ensuring a balanced governance structure[145] - The company has established three committees: audit and risk management, remuneration, and nomination, to oversee specific aspects of the company's affairs[166] - The audit and risk management committee reviewed the consolidated financial statements, confirming compliance with applicable reporting standards[132] - The company has complied with the GEM Listing Rules regarding the appointment of independent non-executive directors, maintaining the required number and qualifications[149] Risk Management - The company has established a risk management and internal control system to manage risks associated with achieving its business objectives[186] - The audit and risk management committee assists the board in overseeing the implementation and monitoring of risk management and internal control systems[188] - The board confirmed the effectiveness of the risk management and internal control systems for the year[192] - The company has engaged an external professional firm to conduct an annual review of its risk management and internal control systems[192] Employee Information - As of December 31, 2024, the group had 69 employees, with employee costs amounting to approximately RMB 7.5 million, an increase from RMB 5.0 million as of December 31, 2023[49] - The gender ratio among all employees as of December 31, 2024, is approximately 41% male to 59% female, indicating a commitment to gender diversity in hiring practices[179] Share Options and Incentives - The stock option plan allows the company to grant options to directors and employees as an incentive for their contributions[110] - A total of 25,816,009 share options have been granted under the plan, which represents approximately 14.09% of the issued shares as of the report date[119] - The share options can be exercised within a period of five years from the grant date, with a vesting schedule of 30% immediately, 30% after one year, and 40% after two years[121]
TL NATURAL GAS(08536) - 2024 - 年度业绩