Financial Performance - For the six months ended June 30, 2022, the revenue was RMB 27,067 thousand, an increase of 18.8% compared to RMB 22,822 thousand for the same period in 2021[6] - The gross profit for the six months ended June 30, 2022, was RMB 4,245 thousand, compared to a gross loss of RMB 2,752 thousand in the same period of 2021[6] - The net loss for the six months ended June 30, 2022, was RMB 2,458 thousand, a significant improvement from a net loss of RMB 5,351 thousand in the same period of 2021[6] - The company reported a basic and diluted loss per share of RMB 0.22 for the six months ended June 30, 2022, compared to RMB 0.80 for the same period in 2021[6] - The company reported a pre-tax loss of RMB 383,000 for the six months ended June 30, 2022, compared to a loss of RMB 2,277,000 for the same period in 2021, indicating a significant improvement[11] - The company reported a loss attributable to owners of approximately RMB 2.5 million, a decrease of RMB 2.9 million or 53.7% compared to a loss of RMB 5.4 million in the previous year[60] Assets and Equity - The total assets as of June 30, 2022, were RMB 130,066 thousand, a decrease from RMB 132,637 thousand as of December 31, 2021[10] - The cash and cash equivalents as of June 30, 2022, amounted to RMB 28,255 thousand, down from RMB 29,647 thousand as of December 31, 2021[10] - The company reported a decrease in total equity from RMB 84,268 thousand as of December 31, 2021, to RMB 81,717 thousand as of June 30, 2022[11] - The company’s total equity attributable to owners as of June 30, 2022, was RMB 81,717,000, a decrease from RMB 87,301,000 at the beginning of the year[13] - As of June 30, 2022, the total equity of the company was approximately RMB 81.7 million, with cash and cash equivalents of approximately RMB 28.3 million[66] Cash Flow and Expenses - The net cash generated from operating activities for the six months ended June 30, 2022, was RMB 743,000, a significant decrease compared to RMB 17,328,000 in the same period of 2021[16] - The company incurred administrative expenses of RMB 6,390 thousand for the six months ended June 30, 2022, compared to RMB 3,083 thousand for the same period in 2021[6] - The company incurred employee benefits expenses of RMB 1,803,000 for the six months ended June 30, 2022, up 22% from RMB 1,478,000 in the same period of 2021[11] - The company’s cash flow from financing activities showed a net outflow of RMB 718,000 for the six months ended June 30, 2022, compared to an outflow of RMB 3,373,000 in the same period of 2021[16] - The total financing costs for the six months ended June 30, 2022, amounted to RMB 192,000, a decrease from RMB 583,000 in the same period of 2021[11] Revenue Breakdown - The company’s major customers, which are state-owned enterprises, contributed RMB 10,456,000 to total revenue for the six months ended June 30, 2022, compared to RMB 13,442,000 in the same period of 2021[26] - Revenue from wholesale CNG sales increased by RMB 4.5 million or 32.1% to RMB 18.5 million, driven by higher average selling prices while maintaining stable sales volume[53] - Revenue from retail CNG sales decreased by RMB 1.2 million or 12.2% to RMB 8.6 million, primarily due to road closures near a gas station in Jingzhou, Hubei[53] Inventory and Receivables - The company’s inventory increased to RMB 70 thousand as of June 30, 2022, from RMB 12 thousand as of December 31, 2021[10] - The company’s trade receivables decreased to RMB 4,781 thousand as of June 30, 2022, from RMB 6,028 thousand as of December 31, 2021[10] - The total trade receivables as of June 30, 2022, were RMB 10,825,000, with a net amount of RMB 4,781,000 after deducting credit loss provisions[39] Shareholder Information - As of June 30, 2022, Mr. Liu Yongcheng holds 85,955,000 shares, representing approximately 49.43% of the total issued shares[27] - Mr. Liu Yongqiang also holds 85,955,000 shares, equivalent to approximately 49.43% of the total issued shares[27] - The company has a total of 19,392,500 shares held by Yongsheng Industrial Limited, accounting for about 10.94% of the total issued shares[109] - The company has a total of 66,562,500 shares held by Hongsheng Industrial Limited, representing approximately 37.55% of the total issued shares[109] - The total shares held by major shareholders, including Yongsheng and Hongsheng, amount to 85,955,000 shares, which is about 50.36% of the total issued shares[112] Corporate Governance - The company has adopted and complied with the corporate governance code as per the GEM Listing Rules, with the exception of the separation of roles between the Chairman and CEO[130] - The audit and risk management committee, consisting of three independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2022[132] - The company confirmed that there were no conflicts of interest involving directors or major shareholders in restricted businesses as of June 30, 2022[34] Future Plans and Commitments - The company is actively exploring new business opportunities in China and other regions to diversify its revenue sources, supported by national policies promoting cleaner energy[63] - The company plans to construct a CNG refueling station with an estimated cost of HKD 5,212,000, representing 17.9% of the total proceeds[75] - The construction of a comprehensive CNG/LNG refueling station is projected to cost HKD 12,250,000, accounting for 42.0% of the total proceeds[75] - The company has no significant contingent liabilities or guarantees as of June 30, 2022, consistent with the previous year[67] - There are no major investments or acquisitions planned by the company as of the report date[71]
TL NATURAL GAS(08536) - 2022 - 中期财报