2023-08-29 11:25Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 87,072 million, reflecting a 3.83% increase from RMB 83,864 million in 2022[2] - Profit attributable to shareholders rose by 4.61% to RMB 3,222 million from RMB 3,080 million in the previous year[3] - EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased by 11.10% to RMB 9,729 million compared to RMB 8,757 million in 2022[1] - The company reported a total comprehensive income of RMB 5,115 million, up from RMB 4,410 million in the previous year[2] - Total revenue for the six months ended June 30, 2023, was RMB 89,510 million, an increase from RMB 86,460 million in the same period of 2022, representing a growth of approximately 3%[11] - Profit before tax for the period was RMB 6,201 million, compared to RMB 5,696 million in the previous year, indicating an increase of about 8.9%[12] - The company reported a net profit of RMB 5,041 million for the six months ended June 30, 2023, compared to RMB 4,501 million in the same period of 2022, marking an increase of approximately 12%[12] - Profit before income tax was RMB 6.791 billion, an increase of RMB 516 million or 8.22% year-on-year[25] Sales and Volume - Total natural gas sales volume increased by 9.04% to 23,916 million cubic meters compared to 21,933 million cubic meters in 2022[1] - The natural gas sales segment generated revenue of RMB 69,859 million, while LPG sales contributed RMB 13,855 million, LNG processing and storage brought in RMB 5,188 million, and exploration and production accounted for RMB 608 million[11] - The total number of users exceeded 15 million, with retail gas sales increasing to 14.787 billion cubic meters, a year-on-year increase of 9.50 percentage points in retail proportion[26] - Natural gas sales volume reached 23.916 billion cubic meters, a year-on-year increase of 9.04%, with retail gas volume at 14.787 billion cubic meters, up 9.50%[28] - LPG sales volume increased by 5.17% to 2.937 million tons, but revenue decreased by 7.99% to RMB 13.855 billion[29] - LNG processing and storage revenue decreased by 14.42% to RMB 5.188 billion, with profit before income tax down 19.94% to RMB 1.341 billion[31] - Crude oil sales dropped by 13.73% to 4.84 million barrels, with revenue falling 48.61% to RMB 608 million due to lower average selling prices[32] Assets and Liabilities - The total assets as of June 30, 2023, were RMB 138,537 million, compared to RMB 138,892 million at the end of 2022[4] - Current assets net value increased to RMB 19,156 million from RMB 16,955 million in the previous year[5] - Total liabilities decreased slightly to RMB 56,478 million from RMB 58,190 million[5] - Total assets for the segments as of June 30, 2023, amounted to RMB 122,918 million, compared to RMB 123,476 million as of June 30, 2022[11] - The capital debt ratio decreased to 23.68% as of June 30, 2023, down from 24.26% as of December 31, 2022, representing a reduction of 0.58 percentage points[43] - Total borrowings as of June 30, 2023, were RMB 24,670 million, with RMB 5,618 million due within one year[44] - The value of properties, plants, and equipment pledged as collateral for loans was RMB 755 million as of June 30, 2023, down from RMB 958 million as of December 31, 2022[45] Operational Highlights - The company has made significant progress in strategic infrastructure projects, including the completion of the joint venture registration for the Fujian LNG receiving station[27] - The company has acquired 3 million kilowatts of new energy indicators and has launched 8 new energy projects[27] - The company expects domestic natural gas consumption to grow by approximately 7% year-on-year in the second half of the year[33] - The company plans to enhance safety standards and improve digital management systems to strengthen operational safety[34] - Focus will be on expanding high-end markets and key infrastructure projects, particularly in Fujian LNG receiving station[34] - The company aims to accelerate the development of renewable energy projects in Xinjiang and Shandong, enhancing its role in the new energy system[34] Employee and Governance - Employee compensation costs decreased by 7.33% to RMB 2.628 billion due to a reduction in workforce[38] - The company employed 28,139 employees globally as of June 30, 2023, a decrease from 30,655 employees in the same period last year[46] - The company did not recognize any revenue from a single customer that exceeded 10% of total revenue for the periods reported[13] - The company adopted new articles of association on May 31, 2023, to comply with the core shareholder protection levels as per the listing rules[48] - The board decided not to recommend any interim dividend for the period ending June 30, 2023[47] Future Outlook - The company plans to implement several accounting standard revisions effective January 1, 2024, including classifications of liabilities and cash flow statements, which are anticipated to have no significant impact on future transactions[9] - The detailed interim financial results will be published by September 15, 2023, on the stock exchange and the company's website[52]