Financial Performance - Revenue for the first quarter of 2022 was RMB 108,761,000, a decrease of 23.1% compared to RMB 141,420,000 in the same period of 2021[10]. - The gross loss for the first quarter of 2022 was RMB 2,340,000, with a gross loss margin of 2.2%, compared to a gross loss margin of 1.7% in the same period of 2021[10][11]. - The total comprehensive loss for the period was RMB 12,647,000, a significant decrease of 74.8% from RMB 50,188,000 in the first quarter of 2021[10]. - The loss attributable to owners of the company was RMB 11,502,000, compared to RMB 45,105,000 in the same period of the previous year, reflecting a 74.5% reduction[10]. - The basic and diluted loss per share for the first quarter of 2022 was RMB (0.003), compared to RMB (0.013) in the same period of 2021, indicating a 76.9% improvement[15]. - The net loss margin for the first quarter of 2022 was 11.6%, compared to 35.5% in the same period of 2021, indicating improved financial performance[10][11]. - Total comprehensive income for the three months ended March 31, 2022, was RMB 108,639 thousand, a decrease of 23.1% from RMB 141,298 thousand for the same period in 2021[24]. - The company's total revenue for the period decreased by 23.1% to approximately RMB 108,800,000 compared to RMB 141,400,000 in the corresponding period[48]. - The net loss attributable to the company's owners for the period was approximately RMB 11,500,000, a significant improvement from a net loss of approximately RMB 45,100,000 in the previous period[49]. Expenses and Provisions - The administrative expenses for the first quarter of 2022 were RMB 4,800,000, down from RMB 6,491,000 in the same period of 2021[16]. - Trade receivables impairment provision decreased significantly to RMB 9,032,000 from RMB 61,200,000 in the same period of the previous year[16]. - The sales cost for the renewable energy business was approximately RMB 111,100,000, down from approximately RMB 143,800,000 in the corresponding period, primarily due to a decrease in LNG supply costs[53]. - The impairment provision for trade receivables decreased from approximately RMB 61,200,000 in the previous period to approximately RMB 9,000,000 in the current period[48]. - Administrative expenses decreased by 26.1% from approximately RMB 6,500,000 to approximately RMB 4,800,000 due to cost-saving measures[54]. Dividends and Shareholder Information - The company did not declare any dividends for the first quarter of 2022, consistent with the previous year[10]. - The company did not recommend any dividends for both periods[37]. - The average number of ordinary shares used to calculate basic and diluted loss per share was 3,666,936 thousand shares, compared to 3,622,136 thousand shares in the previous period[36]. - As of March 31, 2022, Mr. Hu holds 547,184,000 shares, representing 14.92% of the company's issued share capital[80]. - Ms. Lin has an interest in 493,456,000 shares, accounting for 13.46% of the company's issued share capital[80]. - Depot Up Limited holds 640,000,000 shares, which is 17.45% of the company's issued share capital[87]. Stock Options and Corporate Governance - The company has granted a total of 28,000,000 stock options in 2014, with an exercise price of HKD 0.81, equivalent to 224,000,000 options after a share split in 2016[78]. - The total number of stock options granted, exercised, or canceled during the period is detailed in the report, with specific exercise periods and prices listed[78]. - The company has a cap on the total number of shares that can be issued upon the exercise of stock options, not exceeding 10% of the issued shares on the date of listing[76]. - The stock options plan is valid for a period of 10 years starting from December 12, 2011, and can be exercised at the discretion of the board[76]. - The company has a limit that the total number of shares issued due to stock options exercised in any 12-month period cannot exceed 1% of the issued shares[76]. - The company has adhered to the corporate governance code as per GEM Listing Rules Appendix 15 throughout the reporting period[95]. - The Audit Committee, consisting of three independent non-executive directors, has reviewed the unaudited financial statements for the first quarter of 2022 and confirmed compliance with applicable accounting standards[97]. Business Strategy and Market Outlook - The company is focused on improving operational efficiency and reducing losses in future quarters[10]. - The company continues to focus on providing diversified integrated new energy services, including technology development for heating and coal-to-gas solutions[21]. - The company aims to expand its renewable energy business and geographic footprint, particularly in Europe, while seeking growth opportunities through joint ventures and mergers[57]. - The company expects a continued decrease in the number of new projects in the future due to market saturation in certain areas[49]. - The renewable energy business contributed over 99% to the total revenue, despite significant demand drops due to lockdown policies[48]. - The company continues to maintain strategic partnerships with major players, including a Fortune Global 500 company, to explore new business opportunities in the LNG sector[50]. Other Financial Information - The company reported a foreign exchange gain of RMB 238 thousand for the three months ended March 31, 2022, compared to a loss of RMB 9 thousand in the same period of 2021[26]. - The fair value loss on convertible bonds for the three months ended March 31, 2022, was RMB 2,113 thousand, contrasting with a gain of RMB 10,216 thousand for the same period in 2021[26]. - Other losses recorded during the period amounted to approximately RMB 1,900,000, compared to other income of approximately RMB 10,200,000 in the corresponding period, primarily due to a fair value loss on convertible bonds[54]. - The company has not issued any debt securities during the reporting period[91]. - There were no purchases, sales, or redemptions of any shares by the company or its subsidiaries during the reporting period[93].
中华燃气(08246) - 2022 Q1 - 季度财报