GJNY(SZ:000096)2022-12-07 09:06Financial Overview - The company's total audited assets for 2013 were approximately 2 billion, with a debt ratio of only 6% [3] - The company has no bank loans, and most liabilities are related to unpaid dividends to major shareholders and employee compensation [3] - The company received around 10 million annually from a strategic investment in ShenNan Gas Company [3] Business Operations - The main business is retail and wholesale of refined oil through its wholly-owned subsidiary, Nanshan Petroleum, which operates 10 gas stations in Shenzhen and surrounding Guangdong province [3] - In 2014, the company invested in two gas stations at the ChaYang service area along the MeiDa Expressway [3] - The company is involved in a project with Qianhai Company to develop the BeiHuan Garden area, with the project currently managed by the partner company [3] Challenges and Strategic Decisions - The company plans to reduce losses in its liquid chemical storage business due to economic adjustments in Guangdong province [3] - The company has faced setbacks in its technical transformation plans for its subsidiary, Guangju Yisheng, due to regulatory issues [5] - The company is cautious about entering the new energy sector, having previously explored a photovoltaic project but ultimately did not proceed due to timing and investment concerns [5] Shareholder Actions - The major shareholder has reduced their stake by 4.45% this year, with no current plans to completely divest [4] - The major shareholder's reduction is attributed to personal financial needs, and it does not affect their controlling position [5] Regulatory and Market Environment - The company is monitoring the potential impact of the opening of refined oil import and export rights, which could provide additional avenues for business [6] - The company adheres to strict information disclosure regulations to ensure transparency and compliance [6]