Jovo Energy(SH:605090)2021-08-22 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached ¥6,633,409,856.16, representing a 74.57% increase compared to the same period last year [19]. - Net profit attributable to shareholders was ¥397,148,693.14, reflecting a year-on-year growth of 12.87% [19]. - The net assets attributable to shareholders increased by 122.38% to ¥5,588,656,676.45 compared to the end of the previous year [19]. - Total assets grew by 83.32% to ¥7,978,841,229.71 compared to the end of the previous year [19]. - Basic earnings per share for the first half of 2021 was ¥1.06, an increase of 8.16% from ¥0.98 in the same period last year [20]. - The company reported a total revenue of 24,022,986.45 million RMB for the first half of 2021 [89]. - The company reported a total comprehensive income of ¥398,902,843.26 for the first half of 2021, compared to ¥354,701,399.04 in the same period of 2020 [115]. - The company’s financial expenses for the first half of 2021 were ¥14,546,326.42, a notable increase from ¥831,301.06 in the same period of 2020, primarily driven by higher interest expenses [113]. Cash Flow and Liquidity - The cash flow from operating activities for the first half of 2021 was ¥156,408,179.87, a decrease of 12.76% compared to the previous year [19]. - The company's cash and cash equivalents increased by 184.94% to 3.60 billion yuan, primarily due to net proceeds from its IPO [55]. - The total cash and cash equivalents at the end of the period amounted to RMB 3,598,274,823.07, an increase from RMB 1,262,819,554.93 at the beginning of the period [191]. - The net cash flow from financing activities was CNY 2.78 billion, compared to a negative cash flow of CNY 178.45 million in the first half of 2020, indicating a turnaround [119]. Investment and Capital Expenditure - The company raised a net amount of ¥2,677,000,000 from its initial public offering in May 2021 [21]. - The company has committed to building two LNG transport vessels at a total cost of RMB 210,630,000, with one vessel currently under construction [61]. - The company has made a total investment of USD 5,000,000 in Singapore Mulan Spirit Shipping Co., Ltd. and increased investment of RMB 1,000,000,000 in Guangdong Jiufeng Energy Co., Ltd., holding 100% equity in both [59]. - The company has established several wholly-owned subsidiaries in Singapore and Hong Kong to enhance its international procurement capabilities [57]. Operational Highlights - The company operates in the clean energy sector, focusing on midstream and terminal areas, providing products such as liquefied petroleum gas (LPG) and liquefied natural gas (LNG) [25]. - The company has established a comprehensive energy base in Dongguan, which includes a 50,000-ton comprehensive terminal and significant LNG storage capacity, playing a crucial role in emergency gas supply for the Guangdong-Hong Kong-Macao Greater Bay Area [26]. - The company has developed a multi-layered sales network in South China, particularly in the Pearl River Delta region, enhancing its market share [28]. - The company provides comprehensive application solutions, including supply scheme design and operation management for gasification stations, to meet diverse customer needs [31]. Risk Management - The company has outlined various operational risks in the management discussion section of the report [6]. - The report includes a forward-looking statement risk declaration, indicating that future plans do not constitute a substantive commitment to investors [5]. - The company faces risks related to macroeconomic fluctuations, including potential impacts from geopolitical tensions and the ongoing COVID-19 pandemic [64][65]. - The company is exposed to procurement price volatility risks for LPG and LNG, which are linked to international market indices [65]. Environmental and Safety Compliance - The company has established environmental protection measures to comply with national standards, but future regulatory changes may require additional investments in environmental facilities [68]. - The company has implemented a strict safety production management system to ensure zero major accidents in its operations [46]. - The company has established a comprehensive environmental protection management system and strictly adheres to relevant discharge management regulations [75]. - The company has developed an emergency response plan for sudden environmental pollution incidents, which has been filed with the local ecological environment bureau [79]. Shareholder Information - The company plans to distribute a cash dividend of RMB 1.793 per 10 shares, totaling approximately RMB 79.42 million based on the total share capital of 442,969,866 shares as of June 30, 2021 [4]. - The largest shareholder, Guangdong Jiufeng Investment Holding Co., Ltd., holds 143,286,120 shares, accounting for 32.35% of total shares [101]. - The total number of shares increased from 360 million to 442.97 million after the public offering of 82.97 million shares [100]. - The foreign shareholding ratio is 11.20%, with 40,329,778 shares held by foreign investors [99]. Compliance and Governance - The report indicates that the board of directors and management guarantee the accuracy and completeness of the financial report, which has not been audited [3]. - The company emphasizes its commitment to transparency and has made all relevant documents publicly available as required by regulatory authorities [8]. - The company has not suffered significant losses from natural disasters to date, but risks remain from events such as severe weather, terrorism, and pandemics [70]. - There were no significant lawsuits or arbitration matters during the reporting period [87].