Financial Performance - The Group's turnover for the three months ended March 31, 2023, was approximately RMB 64,182,000, representing an increase of 5.32% compared to the same period in the previous financial year[11]. - The Group recorded a loss of approximately RMB 992,000 for the three months ended March 31, 2023[11]. - Basic loss per share attributable to equity shareholders of the Company was approximately RMB 0.29 cents for the three months ended March 31, 2023[11]. - The gross profit for the Group was RMB 10,333,000, compared to RMB 5,295,000 in the same period of 2022, indicating a significant improvement[14]. - The loss before income tax improved to RMB 1,095,000 from RMB 7,065,000 in the same period of 2022[14]. - Total comprehensive loss for the period was RMB 2,064,000, compared to RMB 5,737,000 in the previous year, showing a reduction of approximately 64.1%[15]. - The Group recorded a consolidated turnover of approximately RMB 64,182,000 for the Quarter, representing an increase of approximately 5.32% compared to the corresponding period last year[35]. - The loss attributable to shareholders in the Quarter was approximately RMB 992,000, a decrease from a loss of approximately RMB 5,778,000 in the corresponding period of 2022[29]. - The Group achieved a gross profit of RMB 10,333,000 in the Quarter, significantly up from approximately RMB 5,295,000 in the corresponding period of 2022[36]. Expenses and Costs - Distribution costs decreased to RMB 835,000 from RMB 1,266,000 year-on-year, reflecting a reduction of approximately 34.1%[14]. - Administrative expenses were RMB 10,395,000, slightly down from RMB 10,574,000 in the previous year[14]. - The Group's finance costs decreased significantly to RMB 251,000 from RMB 830,000 year-on-year, a reduction of approximately 69.8%[14]. - The staff cost for the quarter was approximately RMB 5,238,000, slightly up from RMB 5,139,000 for the same period in 2022[57]. Equity and Shareholding - As of March 31, 2023, the total equity attributable to equity shareholders of the company was RMB 233,780,000, compared to RMB 244,011,000 at the beginning of the year[16]. - As of March 31, 2023, Mr. Wang Zhong Sheng holds a total of 295,153,739 shares, representing approximately 83.58% of the company's shareholdings[84]. - Mr. Wang Zhong Sheng is also a beneficial owner of 262,570,801 shares and holds convertible bonds convertible to 32,582,938 shares[92]. - As of March 31, 2023, Ms. Zhao Xin holds 297,418,551 shares, representing an interest of 84.22% through her spouse[98]. Acquisitions and Investments - The company plans to acquire an additional 20% equity interest in Huiyang New Energy for RMB 6,723,800, which will make it a wholly-owned subsidiary[72][74]. - The acquisition of Huiyang New Energy is classified as a discloseable transaction under GEM Listing Rules, with applicable percentage ratios exceeding 5% but less than 25%[76][80]. - The completion of the acquisition took place on April 19, 2023, following the approval of the Board and confirmation from independent non-executive Directors regarding the fairness of the transaction[78][80]. Production and Operations - The average daily production of the Group's LNG plants increased, contributing approximately RMB 51,765,000 to revenue in the Quarter[35]. - The production capacity of the Group's LNG plants remains at approximately 500,000 cubic meters per day, but the average daily production was only around 143,000 m³ due to insufficient raw gas supply[47]. - The daily gas output from the upstream business is insufficient to fully utilize the liquefaction plant's capacity, which has been a challenge for the Group[62]. - The company has initiated the development of a C-H synthesis natural gas project, with plans to achieve small-scale production by the end of 2021 and to build 10 units by 2024, each capable of producing 50,000 cubic meters of natural gas per day[63][65]. Governance and Compliance - The audit committee reviewed the unaudited consolidated results for the quarter and confirmed sufficient staffing for accounting and internal control[130]. - The company has complied with the Corporate Governance Code, except for the lack of a specific term for independent non-executive directors[134]. - The company does not currently have a chief executive officer, which deviates from the Corporate Governance Code[136]. - All directors have confirmed their compliance with the GEM Listing Rules regarding securities trading conduct, with no known violations during the period[142].
中国煤层气(08270) - 2023 Q1 - 季度财报