Financial Performance - Total revenue for the nine months ended September 30, 2022, was approximately HKD 134,325,000, an increase of about 60.6% compared to HKD 83,621,000 for the same period in 2021[6]. - The loss attributable to the owners of the company for the nine months ended September 30, 2022, was approximately HKD 23,824,000, compared to a loss of HKD 11,014,000 for the same period in 2021[6]. - Revenue for the third quarter of 2022 was HKD 24,454,000, compared to HKD 21,398,000 for the same quarter in 2021[9]. - The company reported a net loss of HKD 12,039,000 for the third quarter of 2022, compared to a profit of HKD 1,938,000 for the same quarter in 2021[9]. - The total comprehensive loss for the nine months ended September 30, 2022, was HKD 65,842,000, compared to a loss of HKD 6,805,000 for the same period in 2021[11]. - Basic and diluted loss per share for the nine months ended September 30, 2022, was HKD 0.026, compared to HKD 0.011 for the same period in 2021[11]. - The company reported a foreign exchange loss of HKD 39,660,000 for the nine months ended September 30, 2022, compared to a gain of HKD 4,167,000 for the same period in 2021[11]. - The unaudited loss before tax for the nine months ended September 30, 2022, was approximately HKD 26,182,000, compared to a loss of HKD 10,972,000 for the same period last year[35]. Revenue Sources - Revenue from gas transportation and distribution increased to HKD 12,988,000 for the three months ended September 30, 2022, compared to HKD 12,347,000 in the same period of 2021, representing a growth of 5.2%[16]. - The revenue from sales of thermal energy and biomass gasification products rose to HKD 7,765,000 for the three months ended September 30, 2022, compared to HKD 4,875,000 in the same period of 2021, marking a growth of 59.4%[16]. - The total miscellaneous income for the nine months ended September 30, 2022, was HKD 1,515,000, significantly higher than HKD 570,000 in the same period of 2021, indicating a growth of 165.8%[18]. Costs and Expenses - The company experienced a significant increase in inventory changes, with a decrease of HKD 101,796,000 for the nine months ended September 30, 2022, compared to HKD 53,989,000 for the same period in 2021[9]. - Financing costs for the nine months ended September 30, 2022, were HKD 10,769,000, an increase from HKD 8,975,000 in the same period in 2021[9]. - The total financing costs for the nine months ended September 30, 2022, were HKD 10,769,000, an increase of 19.9% from HKD 8,975,000 in the same period in 2021[19]. Dividends and Shareholder Information - No interim dividend was declared for the nine months ended September 30, 2022, consistent with the previous year[6]. - The company did not declare any dividends for the nine months ended September 30, 2022, consistent with the same period in 2021[24]. - As of September 30, 2022, the company has 1,023,987,439 issued ordinary shares[49]. - The beneficial ownership of Ms. Ma Zhang is 371,301,632 shares, representing approximately 36.26%[43]. - Major shareholders include Ms. Guo Xiuqin with 123,867,678 shares (12.10%) and Ji Shengzhi with 110,000,000 shares (10.74%)[53]. Corporate Governance and Structure - The board of directors consists of both executive and independent non-executive members, ensuring a diverse governance structure[65]. - The company has established an audit committee in compliance with GEM listing rules to oversee financial controls and risk management[58]. - The remuneration committee is responsible for considering the remuneration policies for all executive directors and senior management[60]. - The nomination committee evaluates the independence of independent non-executive directors and recommends changes to the board structure[61]. - There were no arrangements for directors or their family members to benefit from purchasing shares or debt securities of the company[56]. Future Outlook and Strategy - The natural gas business remains the core business of the group, benefiting from China's increasing demand for clean energy and government policies promoting natural gas usage[31]. - The biomass gasification heating plant in Huaining County, Anhui Province, is expected to generate significant revenue, although it has incurred losses to date due to incomplete construction and operations[32]. - The property investment business in Yichang provided stable positive cash flow during the review period, with tenants primarily being automotive parts manufacturers supported by local government development[32]. - The board is optimistic about the group's performance as the energy division expands, particularly with the growth of the natural gas and biomass gasification heating businesses[37]. - The group will continue to implement stringent cost control measures and maintain an efficient workforce to enhance shareholder value[35]. - The group is closely monitoring the impact of the ongoing pandemic on operations and financial performance[34]. - The board will continue to explore viable investment opportunities to enhance the company's value amid current economic uncertainties[34]. Share Option Plan - The new share option plan allows for the issuance of up to 102,398,743 shares, which is 10% of the issued shares as of March 31, 2022[49]. - The new share option plan aims to reward eligible participants for their contributions to the company's growth[46]. - The new share option plan is effective for 10 years from the adoption date, which was May 17, 2022[44]. - The company believes that expanding the scope of eligible participants for the new share option plan will enhance flexibility in rewarding contributions[46]. - The company did not repurchase any ordinary shares during the nine months ended September 30, 2022[63]. - No share options were granted, exercised, or lapsed during the review period[50]. Financial Health - The company expects to have sufficient financial resources for ongoing operations and future development as of September 30, 2022[39]. - The company has not disclosed any other interests or positions held by directors or executives beyond what has been reported[40]. - The company has not engaged in any business that constitutes or may constitute direct or indirect competition with its operations during the review period[57].
中国基础能源(08117) - 2022 Q3 - 季度财报