Financial Performance - Total gas sales volume reached 1.082 billion cubic meters, an increase of 11.8% compared to 0.968 billion cubic meters in the same period last year[3]. - Revenue for the six months ended June 30, 2023, was RMB 3.967 billion, up 5.9% from RMB 3.445 billion in the same period last year[4]. - Core profit for the half-year was RMB 223 million, a decrease of 8.0% from RMB 243 million in the same period last year; excluding the impact of gasification rural business, core profit increased by 24.2% to RMB 221 million from RMB 178 million[3]. - Operating profit was RMB 452 million, an increase from RMB 401 million in the previous year[4]. - The net profit for the period was RMB 197,630,000, up from RMB 186,279,000 in the previous year, indicating a growth of 6.8%[14]. - The company's gross profit for the same period was RMB 622,106,000, up 2.7% from RMB 605,712,000 year-on-year[49]. - Net profit attributable to the owners of the company reached RMB 186,651,000, reflecting a 9.1% increase from RMB 171,111,000 in the previous year[49]. - The company's gross profit margin improved to 12.6% for the six months ended June 30, 2023, compared to 11.0% in the previous year[14]. Dividends - The board declared an interim dividend of RMB 0.0682 per share[3]. - The interim dividend for the six months ended June 30, 2023, is set at RMB 0.0682 per share, totaling RMB 66,965,000, compared to RMB 75,050,000 for the same period in 2022[43]. - The company declared a final dividend of RMB 0.11 per share for the year ended December 31, 2022, totaling approximately RMB 89,179,000, which is lower than the previous year's dividend of RMB 0.1457 per share[43]. Assets and Liabilities - Total assets as of June 30, 2023, amounted to RMB 16.145 billion, compared to RMB 15.959 billion as of December 31, 2022[6]. - Non-current assets totaled RMB 10.089 billion, an increase from RMB 9.977 billion at the end of 2022[6]. - Current assets reached RMB 6.056 billion, compared to RMB 5.982 billion at the end of 2022[6]. - Total equity increased to RMB 6.011 billion from RMB 5.823 billion at the end of 2022[7]. - The total borrowings as of June 30, 2023, amounted to RMB 7,491,225,000, an increase from RMB 7,203,064,000 as of December 31, 2022, reflecting a growth of approximately 4.0%[36]. - The accounts payable as of June 30, 2023, totaled RMB 890,660,000, a decrease from RMB 1,161,991,000 as of December 31, 2022, representing a decline of approximately 23.3%[40]. Revenue Breakdown - Retail business revenue was RMB 2,581,431,000, accounting for 65.0% of total revenue, while wholesale business revenue was RMB 620,902,000, contributing 15.7%[13]. - Wholesale business revenue surged by 50.4% to RMB 621 million, compared to RMB 413 million in the previous year[54]. - The company's value-added services revenue reached RMB 153 million, an 11.3% increase from RMB 137 million in the same period last year[51]. - The gross profit from value-added services was RMB 76 million, up 24.7% from RMB 61 million year-on-year[51]. Costs and Expenses - The total cost of materials used was RMB 2,861,377,000, an increase from RMB 2,691,555,000 in the prior year, reflecting a rise of 6.3%[17]. - The company incurred financial costs of RMB (191,302,000) for the period, compared to RMB (137,210,000) in the same period last year, indicating an increase in financial expenses[14]. - Interest expenses on borrowings increased by 36.4% to RMB 203 million compared to the same period last year[62]. - Financial expenses netted to RMB 196,719 thousand for the six months ended June 30, 2023, up from RMB 142,574 thousand in the same period of 2022, representing an increase of about 38%[19]. Customer and Market Insights - Revenue from a single external customer was approximately RMB 243,213,000, representing 6.1% of total revenue, down from 11.4% in the previous year[15]. - The total number of new pipeline gas users added was 148,894, a decrease of 22.4% compared to 191,986 in the same period last year[49]. - The cumulative number of pipeline gas users reached 5,443,209, which is a 6.1% increase from 5,130,628 users year-on-year[49]. Future Outlook and Strategy - The company plans to enhance its core competitiveness and market visibility by expanding value-added services and improving product quality[64]. - The outlook for the second half of 2023 anticipates stable recovery in natural gas demand driven by economic recovery and favorable energy policies[63]. - The company is focused on optimizing gas sources and improving emergency supply capabilities to ensure stable gas supply amid rising domestic demand[50]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules during the reporting period[70]. - The audit committee, consisting of three independent non-executive directors, reviewed the announcement and the unaudited consolidated financial statements for the reporting period[70]. - The mid-term report will be published on the Hong Kong Stock Exchange and the company's website in due course[71].
天伦燃气(01600) - 2023 - 中期业绩