Financial Performance - For the six months ended September 30, 2023, the gross amounts from operations were RMB 3,188,563, a decrease of 5.7% compared to RMB 3,382,162 in the same period of 2022[3]. - The gross amounts of oil and gas sales contracts increased to RMB 2,707,034, up 25.9% from RMB 2,147,987 in the previous year[3]. - Gross profit for the period was RMB 45,951, down 63.1% from RMB 124,495 in the same period last year[3]. - Profit before tax decreased significantly to RMB 21,412, a decline of 81.2% compared to RMB 113,804 in the prior year[3]. - Profit for the period was RMB 26,431, down 74.2% from RMB 102,497 in the same period of 2022[3]. - Total comprehensive income for the period was RMB 26,312, a decrease of 74.0% compared to RMB 101,191 in the previous year[5]. - Basic earnings per share decreased to RMB 0.433, down 68.3% from RMB 1.368 in the same period last year[5]. - Total revenue for the six months ended September 30, 2023, was RMB 506,336,000, a decline of 60.3% from RMB 1,275,255,000 for the same period in 2022[40]. - Revenue from oil and gas sales contracts was RMB 24,807,000, down 39.6% from RMB 41,080,000 in the previous year[40]. - Other revenue from contracts with customers was RMB 481,529,000, a decrease of 61.0% compared to RMB 1,234,175,000 for the same period in 2022[40]. - The total comprehensive income for the period ended 30 September 2023 was RMB 28,239,000, down from RMB 88,255,000 for the same period in 2022, representing a decline of 68.0%[20]. Assets and Liabilities - Non-current assets as of September 30, 2023, were RMB 613,538, a slight decrease from RMB 619,891 as of March 31, 2023[8]. - Current assets decreased to RMB 2,892,443 from RMB 3,187,053 as of March 31, 2023, reflecting a decline of 9.2%[8]. - Total equity attributable to owners of the Company increased to RMB 1,422,201 from RMB 1,393,962 as of March 31, 2023[10]. - As of 30 September 2023, the Group had net current assets of approximately RMB 911,910,000, down from approximately RMB 1,026,295,000 as of 31 March 2023, indicating a decrease of 11.1%[20]. - Trade receivables as of September 30, 2023, amounted to RMB 1,358,419,000, down from RMB 1,412,692,000 as of March 31, 2023[70]. - The Group's total trade payables as of September 30, 2023, were RMB 407,350,000, a decrease from RMB 544,799,000 as of March 31, 2023[76]. Cash Flow - Net cash used in operating activities for the six months ended 30 September 2023 was RMB(271,880,000), compared to RMB(78,041,000) for the same period in 2022, reflecting a significant increase in cash outflow[17]. - Net cash from financing activities for the six months ended 30 September 2023 was RMB 219,177,000, a substantial increase from RMB 19,049,000 in the previous year[17]. - Cash and cash equivalents at 30 September 2023 were RMB 17,506,000, a decrease from RMB 57,034,000 at the same time in 2022, indicating a decline of 69.3%[17]. - The Group's cash and cash equivalents at 1 April 2023 were RMB 71,662,000, down from RMB 123,337,000 at the same time in 2022, indicating a decrease of 42.0%[17]. - The Group's bank balances and cash were approximately RMB 18 million, down from RMB 72 million as of 31 March 2023[133]. Operational Highlights - The Group's operations include the sales of vehicle gas at refueling stations and LNG transportation, categorized under "other operations"[30]. - LNG production decreased by approximately 1,000,000 cubic meters or 0.44% year-on-year, totaling approximately 224,000,000 cubic meters[96]. - Turnover from LNG sales was approximately RMB 459 million, representing a decrease of approximately RMB 400 million or 46.5% compared to the same period last year[96]. - The Group will continue to monitor the situation regarding the suspension of the piped gas business and consider all available options[108]. - The management is focused on enhancing efficiency and reducing costs while seeking profitable trading opportunities in a volatile market environment[104]. - The Group expects steady growth in natural gas demand due to government policies promoting clean production and pollution control[111]. Shareholder Information - The directors and chief executives held a total of 6,545,621,131 shares, with Wang Jianqing holding 4,238,827,528 shares, representing 64.76% of total holdings[158]. - Champion Ever Limited held 3,602,323,177 shares, representing 55.03% of total holdings[165]. - China Construction Bank and Central Huijin Investment Ltd each held a security interest of 1,770,000,000 shares, representing 27.04% of total holdings[165]. Governance and Compliance - The interim results for the six months ended September 30, 2023, have been reviewed by the Audit Committee of the Company[189]. - The Company has complied with all applicable code provisions of the Corporate Governance Code throughout the six months ended September 30, 2023, except for certain deviations[180]. - Mr. Wang Jianqing has served as both Chairman and CEO since January 27, 2011, and September 15, 2011, respectively, which deviates from the CG Code recommendation[181]. - The Company did not engage in any purchases, sales, or redemptions of its listed securities during the Period[190]. - The interim report containing all required information will be published on the Hong Kong Exchange and the company's website in due course[195]. - The company expresses gratitude to management, staff, and employees for their dedication and contributions in the past[196].
元亨燃气(00332) - 2024 - 中期财报