新天然气(603393) - 新疆鑫泰天然气股份有限公司投资者关系活动记录表（1）

Group 1: Production and Financial Performance - In the first nine months of 2023, the company achieved a total natural gas production of 1,704 billion cubic meters, a year-on-year increase of 6.4% [1] - The company's total revenue for the same period was 2.54 billion CNY, with a net profit of 1.042 billion CNY and a net profit attributable to shareholders of 677 million CNY [1] - The total production of coalbed methane reached 1.23 billion cubic meters, with a year-on-year growth of approximately 15.6% [2] Group 2: Sales and Pricing - The cumulative sales volume of coalbed methane in the first nine months was 1.16 billion cubic meters, reflecting a year-on-year increase of 13.3% [2] - The average selling price of coalbed methane for the first nine months was 2.06 CNY per cubic meter, down 7% from the previous year [2] - In Q3, the average selling price dropped to 1.91 CNY per cubic meter, a decrease of nearly 13% compared to the same period last year [2] Group 3: Challenges and Market Conditions - The decline in net profit and attributable net profit was primarily due to falling market prices, with sales in the Pan Zhuang block decreasing by 12% year-on-year [2] - Exchange rate fluctuations and pipeline issues also contributed to increased financial costs and impacted sales volume [2] - Despite these challenges, production and sales have shown signs of recovery since September, indicating a potential for growth in Q4 [2] Group 4: Future Outlook and Strategic Plans - The company anticipates a strong Q4, leveraging the seasonal increase in natural gas sales and optimizing customer structure [3] - Plans to enhance production capacity in the Ma Bi block are underway, with expectations to reach planned production levels within 1-2 years [3] - The company aims to maintain a sustainable dividend policy, having distributed a total of 1.285 billion CNY in cash dividends since its IPO, with an annual growth rate of nearly 15% [4]