Financial Performance - For the three months ended September 30, 2025, the company reported revenue of CAD 256,769, an increase from CAD 252,350 in the same period of 2024, representing a growth of 1.7%[7] - For the nine months ended September 30, 2025, total revenue reached CAD 5,289,753, up 39.4% from CAD 3,794,348 in the previous year[7] - The net loss for the three months ended September 30, 2025, was CAD 6,307,385, compared to a loss of CAD 4,212,185 in the same period of 2024, indicating a deterioration of 49.7%[7] - The net loss for the nine months ended September 30, 2025, was CAD 15,196,223, compared to a net loss of CAD 11,490,019 for the same period in 2024, indicating a 32% increase in losses year-over-year[9] - The company reported a total long-term debt of C$14,815,446 as of September 30, 2025, compared to C$13,646,448 as of December 31, 2024, indicating an increase of about 8.6%[27] Assets and Liabilities - The company's total assets decreased to CAD 20,023,226 as of September 30, 2025, down from CAD 25,888,120 at the end of 2024, reflecting a decline of 22.5%[6] - Current liabilities increased significantly to CAD 23,869,599 from CAD 17,424,108, marking a rise of 37.5%[6] - The total liabilities increased to CAD 52,024,669 as of September 30, 2025, from CAD 47,349,095 at the end of 2024, an increase of 5.7%[6] - As of September 30, 2025, total equity decreased to CAD (32,001,443) from CAD (21,460,975) at the beginning of the year, reflecting a loss of CAD 15,196,223 during the period[8] Cash Flow and Liquidity - The company's cash and cash equivalents rose to CAD 343,732 from CAD 211,491, showing an increase of 62.4%[6] - Operating cash flow for the nine months ended September 30, 2025, was CAD (593,214), an improvement from CAD (3,187,860) in the same period of 2024[9] - As of September 30, 2025, the company reported a working capital shortfall of CAD 23.2 million and incurred operating losses of CAD 6.3 million and CAD 15.2 million for the three and nine months ended September 30, 2025, respectively[13] Shareholder Activities - The company issued shares for cash totaling CAD 1,335,283 during the three months ended September 30, 2025, compared to CAD 2,527,290 in the same period of 2024[9] - The total share capital increased to CAD 228,508,959 as of September 30, 2025, from CAD 222,417,603 at the beginning of the year, marking a 3% increase[8] - The company completed a placement on September 19, 2025, issuing 12,890,000 common shares at HKD 0.33 per share, raising a total of HKD 4,250,000 (approximately CAD 750,000)[41] Operational Performance - The average selling price of natural gas, LNG, and condensate for the three months ended September 30, 2025, was CAD 21,675, compared to CAD 15,421 in 2024, indicating a year-over-year increase of 40.5%[48] - The company reported a total production of 72 barrels of oil equivalent per day in Q3 2025, down from 1,297 barrels in Q2 2025[103] - The company’s average cost per barrel of oil equivalent decreased by 55% for the three months ended September 30, 2025, compared to 2024[125] Impairments and Expenses - The company recognized a total impairment of CAD 3.8 million for exploration and evaluation assets during the nine months ended September 30, 2025[20] - The company reported a depreciation and amortization expense of CAD 1,578,500 for the nine months ended September 30, 2025, compared to CAD 1,464,103 for the same period in 2024, reflecting an 8% increase[9] - Total financial expenses increased by 69% for the three months ended September 30, 2025, compared to 2024, primarily due to foreign exchange losses[122] Financing and Debt - The company has a current liability of C$14,815,446 as of September 30, 2025, which is a significant increase from C$4,544,566 as of December 31, 2024[27] - The company signed a convertible bond agreement for USD 1.5 million at a 9% annual interest rate, maturing on December 10, 2025, with a conversion price of HKD 0.20 per share[98] - The company has a loan from CIMC Leasing of USD 3.5 million with a 9.25% annual interest rate, secured by fixed assets, requiring monthly payments of USD 87,514[139] Regulatory and Compliance - The company continues to monitor and comply with current government regulations, although changes in policies or regulations may adversely affect operations[174] - The company has established an Audit and Risk Committee consisting of three independent non-executive directors to oversee internal controls and accounting practices[185] Future Outlook - The company has not provided specific guidance for future performance but continues to focus on operational efficiency and cost management strategies[3] - JX Energy's liquidity is expected to improve due to significant future commodity price increases and increased reserves from drilling plans[173]
吉星新能源(03395) - 2025 Q3 - 季度业绩