GJNY(SZ:000096)2022-12-06 05:16Group 1: Company Overview - Guangju Energy has a total of 12 gas stations located in Guangdong Province, specifically in Shenzhen, Huizhou, Dongguan, and Meizhou [2]. - The company sources its refined oil mainly from major domestic oil companies, with retail prices guided by national pricing policies [3]. Group 2: Financial Performance - In 2016, the company's refined oil sales were approximately 170,000 tons, showing a slight decline despite the increasing number of vehicles [3]. - The company experienced significant growth in Q1 2017, primarily due to investment income from subsidiaries, which distributed dividends earlier than in previous years [4]. Group 3: Future Outlook - The company does not have high expectations for future gross margins from refined oil, as the current gas stations are mature and sales are stable [3]. - Guangju Energy is actively seeking projects both within and outside Guangdong Province to expand its operations [3]. Group 4: Operational Challenges - The liquid chemical storage subsidiary occupies over 70,000 square meters in the Mawan area, but has been facing losses due to underutilization and high operational costs [4]. - The company is focused on controlling costs to mitigate losses in its storage business, which has been affected by changes in the urban economic structure [4].