Financial Performance - The total amount of receivables as of 2021 was RMB 30,142,000, compared to RMB 88,884,000 in 2020, indicating a significant decrease of approximately 66%[9] - The company provided loans totaling RMB 37,070,000 to an oil and gas operation, which has since been sold, down from RMB 44,024,000 in 2020[9] - A loan of RMB 21,000,000 was issued to a mining company, which was also sold, reflecting a decrease from RMB 24,651,000 in 2020[9] - The company has a net receivable amount of RMB 30,006,000 after accounting for impairment losses of RMB 136,000[9] - The company has faced cash flow challenges, leading to the sale of receivables to alleviate immediate financial pressures[8] Business Operations - The financial services business primarily targets the oil and gas industry, public hospitals, and major state-owned or private enterprises[3] - The company has established a five-year loan agreement with a private enterprise in China, with the loan amount secured by 80% equity in a company holding oil exploration rights[6] - The company has implemented a comprehensive due diligence process for potential borrowers, including KYC procedures and financial assessments[4] - The company is actively monitoring loan performance and assessing credit risks through regular client interactions and financial reviews[5] - The company’s financial services operations are regulated by local financial authorities in Shaanxi Province, China[3] Governance - The board of directors includes two executive directors, Dr. Dai Xiaobing and Mr. Wen Zihun, along with four non-executive directors and three independent non-executive directors[10]
中国油气控股(00702) - 2022 Q3 - 季度财报