元亨燃气2023年报

Annual Report2023 Contents目 錄 Chairman Statement2-3Management Discussion and Analysis of the Group Financial Review4-8Corporate Governance Report9-31Biographical Details of Directors32-34Directors’ Report35-49Independent Auditor’s Report50-59Consolidated Statement of Profit or Loss andOther Comprehensive Income60-61Consolidated Statement of Financial Position62-63Consolidated Statement of Changes in Equity64-65Consolidated Statement of Cash Flows66-67Notes to the Consolidated Financial Statements68-182Financial Information of Five Years183Corporate Information184 Chairman Statement主 席 報 告 Dear Shareholders, On behalf of Yuan Heng Gas Holdings Limited (the “Company”,together with its subsidiaries, the “Group”), I would like to presentthe audited results of the Group for the year ended 31 March 2023to the shareholders. In the past year, amid the turbulent geopolitical developmentsand the sluggish global economic recovery, posing uncertaintiestothe energy market.Under the weak and complex businessenvironment, the Group’s business faced hefty challenges. 7,447,000,0007,902,000,0005.8%28,000,00096,000,000 During the financial year, the Group recorded gross amounts fromoperations (“turnover”) of approximately RMB7,447 million (2022:approximately RMB7,902 million), representing a decrease of 5.8%.The loss after tax of approximately RMB28 million (2022: profit ofapproximately RMB96 million). During the year ended 31 March 2023, the Group has to incur asubstantial amount of impairment losses of approximately RMB151million on the carrying amounts of assets in relation to a non-wholly owned subsidiary (“Huaheng Energy”) in the sales of pipedgas business segment as a result of the suspension of businessoperation due to pending the issue of the renewed operationpermit, details are set out in the Company’s announcement dated28 June 2023. The Company will consider all available options andput all effort to have the issue resolved with Huaheng Energy ableto recommence its business. 151,000,000 In the context of achieving carbon peak and carbon neutrality(“DualCarbon”),China will continue to implement policies toencourage the development of low-carbon green energy whichwill further push forward the growth of natural gas consumption.As China’s carbon neutrality target has been further reinforced,efforts have been made to accelerate the development of low-carbon energy structure. In the context of the trend of the cleanenergy, the increasing demand for a shift from “coal to gas”, it isclearly that natural gas will be one of the dominant energy sourcesin the energy consumption market, in which the Group operates. Chairman Statement主 席 報 告 Seizing opportunities in the transformation of the energy structureand the development of the clean energy sector, the Group hascontinued to optimize the cost and business structures and to seekand explore the expansion of its LNG distribution channel throughproposed collaboration with industry player(s) and/or state-ownedenterprises; foster strategic cooperation with global renowned oiland gas supplier to facilitate the trading business of the Groupand sought to further expand collaboration with quality end usersof nature gas. Lookingahead,the management is mindful of the marketenvironment and will continue to adopt cautionary steps in andimplementing various strategies to mitigate the adverse impact onthe business arising from challenges as in this market condition.Moreover,the Group will continues to develop its business innatural gas sector and to explore new business opportunities inorder to create value for its shareholders. On behalf of the board, I would like to extend my sincere gratitudetoour shareholders and business partners for their continuingsupport.I would also like to express my appreciation to ourmanagement team and all staff for their outstanding contributionsand hard work over the past year. Wang JianqingChairman Management Discussion and Analysis of the Group Financial Review本 集 團 之管 理 層 討 論 及 分 析 財 務 回 顧 BUSINESS REVIEWGroup results (i)(ii) For the year ended 31 March 2023 and at present, the Group hasbeen principally engaged in (i) trading of oil and gas products andthe provision of related consultancy services; and (ii) processing,distribution, sales, trading and transportation of LNG and otherauxiliary operations and networks in the PRC. 7,447,000,0007,902,000,00028,000,00096,000,000 For the year ended 31 March 2023, the Group recorded grossamountsfrom operations of approximately RMB7,447 million(2022:approximately RMB7,902 million)with loss after tax ofapproximately RMB28 million (2022: profit of approximately RMB96million). The Group’s performance for the year ended 31 March2023 was contributed mainly by the production and sales of LNG(as further elaborated under the section headed “Production andsales of LNG”). Production and sales of LNG 455,000,00067,000,00012.8%1,551,000,00080,000,0004.9%20.8%35,000,000169,000,000204,000,00012.5%10.9% Du