Financial Performance - For the six months ended September 30, 2025, the company reported revenue of RMB 6,536,000, a decrease of 10.6% compared to RMB 7,308,000 for the same period in 2024[8] - Gross profit for the same period was RMB 1,492,000, down 17.7% from RMB 1,813,000 in the previous year[8] - The total comprehensive loss for the period was RMB 14,680,000, representing a 29.0% decrease from RMB 20,676,000 in the corresponding period of 2024[8] - The loss attributable to owners of the company was RMB 13,454,000, a decrease of 38.5% compared to RMB 21,886,000 in the prior year[8] - Revenue for the six months ended September 30, 2025, was RMB 6,536,000, a decrease of 10.5% compared to RMB 7,308,000 for the same period in 2024[10] - Net loss for the six months ended September 30, 2025, was RMB 14,680,000, compared to a net loss of RMB 20,676,000 for the same period in 2024, representing a 29% improvement[10] - The company reported a significant reduction in administrative expenses to RMB 9,425,000 for the six months ended September 30, 2025, down from RMB 25,230,000 in the same period of 2024[10] - The company incurred a total loss of RMB 14,642,000 for the six months ended September 30, 2025, compared to a loss of RMB 20,633,000 for the same period in 2024, indicating an improvement of about 29.0%[27] Assets and Liabilities - Total assets as of September 30, 2025, were RMB 326,668,000, a decrease of 4.7% from RMB 342,940,000 as of March 31, 2025[8] - Total liabilities decreased to RMB 156,029,000 as of September 30, 2025, from RMB 183,246,000 as of March 31, 2025[11] - Cash and cash equivalents decreased by 5.3% to RMB 10,518,000 from RMB 11,112,000 in the prior year[8] - Trade receivables and contract assets decreased to RMB 44,803,000 as of September 30, 2025, from RMB 53,616,000 as of March 31, 2025, with an increase in impairment provision from RMB 19,315,000 to RMB 26,091,000[38] - The group's current assets and current liabilities as of September 30, 2025, were approximately RMB 315,500,000 and RMB 155,400,000, respectively, compared to RMB 331,600,000 and RMB 181,900,000 on March 31, 2025[80] - The group's debt-to-equity ratio as of September 30, 2025, was 21.0%, a decrease from 35.5% on March 31, 2025[80] Cash Flow and Financial Management - Operating cash flow for the six months ended September 30, 2025, was a net outflow of RMB 5,752,000, an improvement from RMB 22,791,000 in the previous period[13] - The company reported a loss attributable to owners of RMB 13,454,000 and a net cash outflow from operations of RMB 5,752,000 for the six months ended September 30, 2025[16] - The company plans to implement cost control measures and timely collection of receivables to generate sufficient operating cash flow[17] Share Capital and Stock Options - The first loan capitalization agreement involved issuing 230,000,000 shares at a capitalization price of HKD 0.119 per share, converting shareholder loans into equity amounting to HKD 27,370,000[18] - The second loan capitalization agreement involved issuing 140,000,000 shares at a capitalization price of HKD 0.098 per share, converting shareholder loans into equity amounting to HKD 13,720,000, pending shareholder approval[18] - The company granted a total of 366,688,000 stock options to directors and employees under the 2023 plan, with an exercise price of HKD 0.16 per option[51] - The total number of stock options that can be granted under the plan is capped at 366,693,600 shares, which is 10% of the issued share capital at the time of approval[94] Revenue Sources - Revenue from LNG sales decreased to RMB 5,934,000 for the six months ended September 30, 2025, compared to RMB 6,717,000 for the same period in 2024, reflecting a decline of approximately 11.6%[23] - Rental income from investment properties increased to RMB 125,000 for the six months ended September 30, 2025, compared to RMB 109,000 for the same period in 2024[23] - The energy business continues to account for over 99% of the company's total revenue, with a net loss after tax of approximately RMB 14,700,000, reduced from a net loss of approximately RMB 20,700,000 in the corresponding period[64] Governance and Compliance - The company has adopted a code of conduct regarding securities transactions by directors, which complies with the GEM Listing Rules[108] - The company has adhered to the corporate governance code as per GEM Listing Rules throughout the reporting period[109] - The audit committee has reviewed the financial results for the six months ended September 30, 2025, and confirmed that the reports were prepared in accordance with applicable accounting standards[112] Future Outlook - The company plans to actively explore LNG trade, urban gas mergers, and comprehensive energy supply in the coming year[78] - The group has initiated plans to expand into the Southeast Asian market, aligning with the Belt and Road Initiative[78] - The company expects the LNG prices to fluctuate between USD 500 and USD 800 per ton over the next three years due to global supply-demand imbalances and geopolitical risks[75]
中华燃气(08246) - 2025 - 中期业绩