Financial Performance - For the six months ended June 30, 2023, revenue increased by approximately 19% to approximately RMB 3,184.0 million, compared to RMB 2,681.8 million for the same period in 2022[23]. - Profit attributable to equity shareholders increased by approximately 12% to approximately RMB 6.4 million for the six months ended June 30, 2023, compared to RMB 5.7 million for the same period in 2022[23]. - The sales of refined oil and natural gas amounted to RMB 3,150,615 thousand for the six months ended June 30, 2023, compared to RMB 2,650,380 thousand for the same period in 2022[13]. - The company reported a total income from transportation services of RMB 33,387 thousand for the six months ended June 30, 2023, compared to RMB 31,370 thousand for the same period in 2022[13]. - Total comprehensive income for the period was RMB 10,345 million, a decrease of 15.5% from RMB 12,265 million in the previous year[102]. - Revenue from reportable segments was RMB 3,184,044 thousand, up 18.7% from RMB 2,681,756 thousand in the previous year[114]. - Gross profit from reportable segments was RMB 172,608 thousand, slightly down from RMB 176,804 thousand in the previous year[114]. - Operating profit for the period was RMB 10,577 thousand, a decrease of 15.6% from RMB 12,528 thousand in the previous year[114]. - Net profit attributable to equity shareholders was RMB 6,433 thousand, compared to RMB 5,708 thousand in the previous year, reflecting a growth of 12.7%[118]. Sales and Consumption - The sales revenue from refined oil reached approximately RMB 3,021.1 million, up about 18%, accounting for 95% of total revenue during the same period[35]. - Natural gas sales recorded revenue of approximately RMB 129.6 million, an increase of about 49%, accounting for about 4% of total revenue[44]. - The company's natural gas consumption increased by 5.6% year-on-year to 194.1 billion cubic meters in the first half of 2023, while domestic production grew by 5.4% to 115.5 billion cubic meters[42]. - The total natural gas import volume increased by 5.8% to 79.4 billion cubic meters, including 33.2 billion cubic meters of pipeline gas and 46.2 billion cubic meters of liquefied natural gas[42]. - The company's sales volume of refined oil was approximately 400,000 tons, a year-on-year increase of about 23% from 325,000 tons in the same period last year[35]. - Natural gas imports in China increased by 6.8% year-on-year in the first half of 2023, driven by lower international spot prices and increased supply from Russia[148]. Expenses and Liabilities - The total expenses for salaries, wages, and other benefits increased to RMB 81,671 thousand for the six months ended June 30, 2023, from RMB 74,959 thousand for the same period in 2022[20]. - The sales cost increased by approximately 20% to about RMB 3,011.4 million, up from RMB 2,505.0 million in the same period last year, due to increased sales volume[47]. - Employee costs amounted to approximately RMB 81.7 million, an increase of about RMB 6.7 million compared to RMB 75.0 million in the same period last year[49]. - Total non-current liabilities amounted to RMB 315,832 thousand as of June 30, 2023, compared to RMB 268,860 thousand as of December 31, 2022[6]. - The company has a total short-term loan of RMB 270.75 million, which represents 84% of total borrowings, while long-term loans account for RMB 52.5 million, or 16%[54]. - The group’s total inventory cost was RMB 2,998.6 million for the six months ended June 30, 2023, compared to RMB 2,493.7 million for the same period in 2022[167]. - The group’s interest expenses for bank and other loans were RMB 4.3 million for the six months ended June 30, 2023, down from RMB 4.8 million in the same period of 2022[166]. Assets and Equity - The net asset value increased to RMB 477,864 thousand as of June 30, 2023, from RMB 467,624 thousand as of December 31, 2022[6]. - The total equity attributable to equity shareholders was RMB 438,417 thousand as of June 30, 2023, compared to RMB 428,684 thousand as of December 31, 2022[6]. - Total assets remained stable at approximately RMB 1,454.4 million, while total equity increased by about 2% to approximately RMB 477.9 million[74]. - As of June 30, 2023, non-current assets totaled RMB 615,923 thousand, a decrease of 1.0% from RMB 622,457 thousand as of December 31, 2022[125]. - Current assets amounted to RMB 838,512 thousand, down 10.1% from RMB 932,997 thousand at the end of 2022[125]. - Total liabilities decreased to RMB 660,739 thousand, down 19.3% from RMB 818,970 thousand[125]. Future Outlook and Strategy - The company is considering expanding its charging pile business to meet the growing demand for new energy vehicles, following a 137% year-on-year increase in sales of new energy vehicles in China during the first half of 2023[61]. - The company anticipates a recovery in natural gas consumption in China, projected to increase by 5% to 7% for the year 2023[60]. - The company anticipates a 7.2% year-on-year increase in natural gas apparent consumption for the entire year of 2023, according to estimates from Jinlianchuang[82]. - Natural gas production in China is expected to grow by 5.2% year-on-year in 2023, supported by the annual production targets of major gas fields[82]. - The group aims to optimize natural gas and oil distribution and transportation businesses in response to the domestic economic recovery in the second half of the year[197]. Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities trading by directors, confirming compliance with the regulations as of June 30, 2023[65]. - The company has adhered to the corporate governance code as per the listing rules, with the board believing that having the same person serve as both chairman and CEO can provide strong and consistent leadership[198]. - The audit committee, established in September 2017, is responsible for reviewing the group's financial reporting and risk management[199]. - The company has maintained sufficient public shareholding since its initial public offering[200]. Employee and Operational Insights - The group has 1,551 employees as of June 30, 2023, and complies with applicable laws and regulations regarding employee benefits[192]. - Operating expenses increased by approximately RMB 7.9 million or 28% to about RMB 36.2 million due to the recovery of economic activities post-COVID-19[71]. - The company has not engaged in significant investments, acquisitions, or sales during the six months ending June 30, 2023[193].
众诚能源(02337) - 2023 - 中期业绩