CC GAS(SH:600333)2022-08-26 16:00Financial Performance - The company's operating revenue for the first half of 2022 was approximately CNY 905.08 million, representing a 6.37% increase compared to CNY 850.91 million in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2022 was a loss of CNY 104.21 million, compared to a loss of CNY 62.50 million in the same period last year[20]. - The basic earnings per share for the first half of 2022 was -CNY 0.17, down from -CNY 0.10 in the same period last year[18]. - The weighted average return on net assets decreased to -5.05% from -2.98% in the same period last year, a decline of 2.07 percentage points[18]. - The net cash flow from operating activities was -CNY 95.14 million, a significant decrease of 508.68% compared to CNY 23.28 million in the same period last year[20]. - The company's gross profit margin declined significantly due to rising upstream procurement prices and delayed adjustments in terminal sales prices[28]. - The company's total equity decreased to CNY 2,048,024,629.30 from CNY 2,066,902,685.52, a decline of 0.9%[65]. - The total comprehensive income for the first half of 2022 was a loss of CNY 105,681,952.46, compared to a gain of CNY 63,067,016.74 in the first half of 2021[68]. Cash Flow and Liquidity - The company's cash and cash equivalents increased by 63.44% to ¥294,782,653.57, primarily due to increased bank loans during the reporting period[32]. - The company reported a significant increase in financing cash flow, reaching CNY 253.83 million, up 574.53% year-on-year[31]. - The ending balance of cash and cash equivalents was 293,210,488.86 RMB, up from 171,840,976.68 RMB at the end of the first half of 2021, marking an increase of approximately 70.7%[73]. - The net cash flow from financing activities increased to 253,825,089.19 RMB, compared to 37,630,170.21 RMB in the first half of 2021, showing a substantial improvement[73]. - The total cash inflow from operating activities was 947,080,504.32 RMB, compared to 917,559,503.46 RMB in the first half of 2021, reflecting a year-over-year increase of approximately 3.5%[72]. Assets and Liabilities - The company's total assets increased by 2.98% to CNY 5.95 billion from CNY 5.78 billion at the end of the previous year[20]. - Total liabilities increased to CNY 3,896,040,467.49 from CNY 3,623,030,723.77, which is an increase of about 8%[60]. - The total current assets increased to ¥1,023,451,977.58 from ¥832,241,430.38, representing a growth of approximately 23%[59]. - The company's accounts payable decreased by 100% to ¥0.00, as the company reduced the use of notes payable for settlements[32]. - The total balance of other receivables at the end of the period is CNY 24,874,181.61, an increase from CNY 20,179,793.68 at the beginning of the period, representing a growth of approximately 23.4%[179]. Business Operations - The company operates in urban pipeline gas, municipal engineering, vehicle gas, and clean energy development, focusing on comprehensive utilization of natural gas[22][23]. - The company aims to enhance its clean energy business by providing customized solutions for industrial and commercial clients, including district heating and distributed energy projects[24]. - The company has established a total of 10 vehicle gas refueling stations and one compression mother station to support its vehicle gas business[23]. - The company is focusing on expanding its business by leveraging existing customer and industry chain resources, aiming for innovative business models[26]. - The company is positioned to benefit from the government's push for clean energy and the transition from coal to gas heating, providing new market opportunities[26]. Research and Development - Research and development expenses decreased by 93.82% to CNY 117,761.42, primarily due to a reduction in R&D projects during the reporting period[31]. - The company reported a research and development expense of CNY 117,761.42, a significant decrease from CNY 1,906,881.94 in the previous year[67]. Shareholder Information - The total number of ordinary shareholders reached 49,663 by the end of the reporting period[52]. - The company approved the 2021 annual report and financial settlement report during the shareholders' meeting held on June 20, 2022[38]. - The company reported a profit distribution of ¥30,451,534.20, indicating a significant allocation to shareholders[83]. Risk Management and Compliance - The company has implemented proactive safety management measures, resulting in improved safety risk control capabilities[27]. - No significant litigation or arbitration matters were reported during the reporting period[44]. - The company did not face any significant risks or non-operational fund occupation by major shareholders[44]. Accounting Policies - The company adheres to the accounting standards, ensuring that financial statements accurately reflect its financial position and performance[96]. - The company has reported no significant changes in accounting policies or estimates during the reporting period[162]. - The company uses the expected credit loss model for impairment accounting on financial assets measured at amortized cost and those classified as fair value through other comprehensive income[117]. Inventory and Receivables - The total inventory balance at the end of the period is CNY 462,344,377.70, which includes raw materials valued at CNY 70,343,882.21 and engineering costs at CNY 388,620,586.39[186]. - The provision for bad debts reflects a cautious approach to credit risk management, with a focus on high-risk accounts[168]. - The provision for bad debts decreased to CNY 14,239,941.87 from CNY 15,884,454.28, indicating a reduction of about 10.3%[179].