Foran Energy(SZ:002911)2022-08-23 16:00Financial Performance - The company's operating revenue for the first half of 2022 was ¥8,243,680,839.58, representing a 51.27% increase compared to ¥5,449,508,324.76 in the same period last year[26]. - The net profit attributable to shareholders of the listed company was ¥268,148,299.06, a 2.82% increase from ¥260,791,187.99 in the previous year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥258,922,200.86, up 3.02% from ¥251,321,061.98[26]. - The net cash flow from operating activities was ¥336,479,271.97, a significant increase of 388.67% compared to ¥68,855,933.55 in the same period last year[26]. - Basic earnings per share were ¥0.2837, reflecting a 2.83% increase from ¥0.2759[26]. - Total assets at the end of the reporting period were ¥14,443,452,693.56, a 3.63% increase from ¥13,936,991,567.93 at the end of the previous year[26]. - The net assets attributable to shareholders of the listed company were ¥4,312,395,738.25, down 3.30% from ¥4,459,608,033.18[26]. - The weighted average return on equity was 5.92%, a decrease of 1.70% from 7.62% in the previous year[26]. - The operating cost increased by 56.23% to ¥7,346,328,486.33, up from ¥4,702,301,256.36, primarily due to a significant rise in gas source costs[67]. - Research and development investment rose by 11.56% to ¥132,590,208.08, up from ¥118,851,227.71[67]. Business Operations - The company achieved operating revenue of 8.244 billion yuan, a year-on-year increase of 51.27%[36]. - The natural gas supply volume was 1.853 billion cubic meters, a decrease of 2.13% year-on-year[36]. - The net profit from the natural gas business in Foshan decreased by 76.12%, while other businesses saw a profit increase of 86.16%[36]. - The company is actively expanding its energy services, including gas supply, hydrogen energy, and thermal energy, to optimize its business structure[36]. - The company supplied a total of 326,000 kWh of electricity and 290,000 kWh of cooling energy through its energy storage projects during the reporting period[44]. - The company has established a "mother-son station" model for hydrogen energy, providing over 14,000 refueling services and 150,000 kilograms of hydrogen during the reporting period[39]. - The company has invested in three distributed photovoltaic power stations with a total installed capacity of approximately 2 MW, contributing to a cumulative capacity of 23.68 MW[43]. - The company plans to construct a distributed energy station project with a capacity of 2×120 MW, approved by the local development and reform bureau[42]. - The company has signed natural gas procurement contracts with domestic and international suppliers to ensure stable gas supply[38]. - The company is expanding its gas service business, which includes engineering construction, design supervision, and cost consulting, to support various energy projects[48]. Environmental and Social Responsibility - The company supplied 1.853 billion cubic meters of natural gas, reducing carbon dioxide emissions by 1.01 million tons compared to coal[146]. - The company has developed and operated distributed photovoltaic projects with a total capacity of 23.68 MW, generating 9.644 million kWh of electricity[145]. - The company replaced approximately 900,000 liters of fuel with hydrogen, resulting in a reduction of 2,468 tons of carbon dioxide emissions[145]. - The company has implemented energy-saving renovation projects with an average energy-saving rate of 60%[145]. - The company has planted 170,000 trees as part of its environmental responsibility initiatives[146]. - The company participated in community support during the pandemic, sending 180 volunteers to assist in nucleic acid testing for 50,000 residents[147]. - The company provided 500,000 RMB in support for rural revitalization initiatives, including infrastructure development and educational programs[148]. - The company purchased local agricultural products worth approximately 640,000 RMB to support poverty alleviation efforts in Guizhou province[148]. - A total of 221,000 RMB was donated for youth care and educational assistance programs, including scholarships for university students[148]. - The company has established partnerships with local villages to enhance community support and development[148]. Risk Management - The management has highlighted potential risks and countermeasures in the report, urging investors to be cautious[5]. - The company faces significant risks from fluctuations in raw material prices, particularly in the natural gas sector, due to geopolitical tensions affecting global oil and gas markets[118]. - The company is exposed to exchange rate risks, particularly with the potential for significant fluctuations in the RMB to USD exchange rate, impacting international procurement costs[119]. - Changes in national policies regarding gas pricing and energy consumption may adversely affect the company's operations and customer base, particularly in high-energy-consuming industries[120]. - The company plans to enhance its risk management strategies, including hedging against price fluctuations and utilizing financial instruments to mitigate exchange rate impacts[119]. Corporate Governance - The company will not distribute cash dividends or issue bonus shares for the half-year period, indicating a focus on reinvestment[126]. - The company has conducted multiple shareholder meetings with high participation rates, indicating strong investor engagement[125]. - The company has implemented a stock option incentive plan to align employee interests with company performance, which was approved by relevant authorities[130]. - The company has established several new subsidiaries during the reporting period, which did not significantly impact overall operational performance[114]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[153]. - The half-year financial report has not been audited[155]. - The company has not reported any violations regarding external guarantees during the reporting period[154]. Related Party Transactions - The total amount of daily related party transactions for the reporting period did not exceed the estimated total amount, indicating effective management of related transactions[169]. - The company reported a total of 18,498.1 million in related party transactions during the period[169]. - The company engaged in the procurement of raw materials from related parties, with specific transactions including 3,889.55 million for steam procurement and 1,513.76 million for natural gas purchases[166]. - The company has not experienced significant discrepancies between transaction prices and market reference prices, maintaining compliance with market standards[169]. - The company has established contracts for procurement at market prices, ensuring transparency and fairness in transactions[166]. Investment and Fund Management - The company reported a total investment of ¥1,204,140,886.82 during the reporting period, a decrease of 10.25% compared to ¥1,341,721,683.40 in the same period last year[79]. - The total amount of raised funds in the first half of 2022 was RMB 714.88 million, with RMB 1.40 million utilized during the period, leaving RMB 74.81 million unutilized[88]. - As of June 30, 2022, 83.22% of the raised funds had been allocated for specific projects, with RMB 59.49 million being repurposed[88]. - The company has established a dedicated account for managing raised funds, ensuring compliance with regulatory agreements[88]. - The company has not used any raised funds for financial products during the reporting period[88]. - The company has not encountered any issues with the use and disclosure of raised funds, and all unused funds remain in a dedicated account[101].