CC GAS(SH:600333)2021-08-20 16:00Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥850.91 million, representing a 29.41% increase compared to ¥657.52 million in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was approximately -¥62.50 million, an improvement of ¥38.67 million compared to -¥101.17 million in the same period last year[17]. - The basic earnings per share for the first half of 2021 was -¥0.10, compared to -¥0.17 in the same period last year[17]. - The weighted average return on net assets increased to -2.98% from -4.92% year-on-year, showing an improvement of 1.94 percentage points[17]. - The net cash flow from operating activities for the first half of 2021 was approximately ¥23.28 million, a significant recovery from -¥101.80 million in the same period last year[17]. - The total assets at the end of the reporting period were approximately ¥5.69 billion, an increase of 1.67% from ¥5.60 billion at the end of the previous year[17]. - The company's net assets attributable to shareholders decreased by 4.21% to approximately ¥2.03 billion from ¥2.12 billion at the end of the previous year[17]. Sales and Market Growth - The company reported a significant increase in gas sales volume compared to the previous year, which was a key driver for revenue growth[17]. - The gas sales volume reached 239 million cubic meters, showing a growth of 24% compared to the previous year[31]. - The number of existing users reached 1.657 million, including nearly 20,000 industrial and commercial users[31]. - The company is expanding its clean energy business, focusing on customized heating solutions and distributed energy projects[24]. - The company is positioned to benefit from the government's push for clean energy and the "coal-to-gas" initiative, particularly in the northern regions[28]. Research and Development - The company’s R&D expenses increased by 76.25% to RMB 1.91 million, reflecting a focus on innovation[33]. - The company's research and development expenses increased due to the addition of new R&D projects[34]. Financial Management - The company’s sales costs rose by 33.87% to RMB 673.52 million, influenced by higher upstream procurement costs[33]. - The increase in sales cost is primarily due to the rise in gas sales volume compared to the same period last year[34]. - The net cash flow from operating activities increased due to higher cash received from sales and a decrease in cash paid for other operating activities[34]. - Long-term borrowings increased by 61.17% to ¥498 million, up from ¥309 million in the previous year[37]. - Prepayments increased by 70.54% to ¥110 million, primarily due to prepayment for natural gas procurement[37]. - The company's undistributed profits decreased by 26.97% to ¥252 million, down from ¥345 million in the previous year[37]. - The company experienced a 170.21% increase in payable dividends, rising to ¥48 million from ¥18 million in the previous year[37]. Corporate Governance - There were changes in the board of directors, with two directors resigning and two new directors elected[43]. - The company did not disclose any stock incentive plans or employee stock ownership plans during this reporting period[44]. Shareholder Information - The total number of ordinary shareholders reached 80,676 by the end of the reporting period[54]. - The largest shareholder, Changchun Changgang Gas Co., Ltd., holds 357,810,876 shares, accounting for 58.75% of the total shares[54]. Accounting Policies - The financial statements are prepared based on the assumption of going concern, indicating the company has a history of profitable operations and sufficient financial resources for at least the next 12 months[98]. - The company adheres to the accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[99]. - The company includes all controlled subsidiaries in its consolidated financial statements, ensuring consistency in accounting policies and periods[104]. Asset Management - The company's total assets at the end of the reporting period amounted to CNY 2,072,476,075.76, showing a slight increase from the previous period[84]. - The total liabilities at the end of the reporting period were CNY 1,033,298,797.37, reflecting a slight increase compared to the previous period[84]. - The company’s total bad debt provision for the first stage was CNY 1,165,252.37, while the second and third stages were CNY 11,036,083.07 and CNY 4,598,813.35, respectively[182]. Risk Management - There were no significant risks that materially affected the company's production and operations during the reporting period[4]. - The company has established a proactive safety management model, enhancing its risk control capabilities and safety assurance[29].