华润燃气(一百)2023 中期报告

Victoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda 261901-02 MUFG Fund Services (Bermuda) LimitedThe Belvedere Building69 Pitts Bay RoadPembroke HM08Bermuda 1617 Contents 4Corporate Profile 5Chairman’s Statement and Review of Operations andResults 19Corporate Governance and Other Information 26Financial & Operational Highlights 29Independent Review Report 31Consolidated Statement of Profit or Lossand Other Comprehensive Income 32Consolidated Statement of Financial Position 34Consolidated Statement of Changes in Equity 37Condensed Consolidated Statement of Cash Flows 39Notes to Interim Financial Report Corporate Profile THE PRC CITY GAS DISTRIBUTION FLAGSHIPOF CHINA RESOURCES GROUP China Resources Gas Group Limited (“CR Gas”), substantially ownedby China Resources (Holdings) Company Limited, one of the largeststate-owned conglomerates in China, is a leading gas utilities groupin China, the principal businesses of which include the purchases andsales of natural gas, the construction and operation of pipeline facilities,gas for vehicles and vessels, combined cooling, heating and power,and integrated gas services, etc. Its operations are strategically locatedin areas of China, which are economically more developed and denselypopulated and areas with rich reserves of natural gas. 27525153198.425,585 Leveraging on the excellent industry fundamentals and the Group’sexecution competency, CR Gas continues to expand rapidly in 2023via organic growths and acquisitions. In the first half of 2023, CRGas’s portfolio is consisted of 275 city gas projects in 25 provincialadministrative regions of China including 15 provincial capitals and 3direct administrative municipalities with a gross gas sales volume ofapproximately 19.842 billion cubic meters and 55.85 million customersin the first half of 2023. 2035 Theoptimisation of energy structure and environmental pollutioncontrol will promote the sustainable growth of natural gas consumptionin China. The PRC government has, in recent years, taken variousmeasures to promote the development and utilisation of less pollutingenergy sources. The natural gas industry is in sync with the coredevelopment idea of innovation, harmony, green, open and sharingas compared with conventional energy resources such as coal andcrude oil. In “The 14th Five-Year Plan” and the draft of “Long-RangeObjectives through the Year 2035”, the state once again emphasisedthatthe promotion of green and low-carbon development,theenhancementof the construction of ecological civilisation and thepromotion and application of natural gas played an important role inprotecting the ecological environment and promoting the transition togreen development. The natural gas market in China is still in the important developmentperiod, as China remains the most important region in the global riseof natural gas development. CR Gas is well placed to take advantageofsuch a favorable operating environment and to become themost respectable leader in the PRC’s gas industry by continuouslyexpanding through organic and external growths; diligently enhancingits operational efficiency in pursue of excellence; delivering a safe andreliable supply of clean energy as well as the caring, competent andefficient services to our customers; offering growing and sustainableperformanceto shareholders;creating extensive professional andpersonal development opportunities to employees; and contributing tothe protection and improvement of the Chinese and global environment. Chairman’s Statement and Review of Operations and Results HALF-YEAR RESULTS 3.0%(GDP)5.5%2023 In the first half of 2023, the interaction of inflation, tight monetary policiesand financial conditions cause the overall recovery of the world economystill fraught with uncertainties. The International Monetary Fund forecaststhat global economic growth will fall to 3.0% throughout the year. In thefirst half of the year, China’s economic recovery took the lead amongmajor economies in the world, with the gross domestic product (GDP)growing by 5.5% year-on-year and the economy maintaining steadygrowth. The China Natural Gas Development Report 2023 publishedby the National Energy Administration points out that natural gas, asthe cleanest and lowest-carbon fossil energy, is an indispensable andimportant component in the construction of China’s new energy systemand its usage will continue to grow steadily for a long time. Naturalgas’s flexible and efficient characteristics can also support synergisticdevelopment of various energies and continue to play a positive role inthe carbon peak and carbon neutrality. Chairman’s Statement and Review of Operations and Results The Group will expand steadily via sustainable organic growth and qualityexternal acquisitions, at the same time actively explore new opportunitiesarising from its gas value chain and customer base. 6.9%1 9 8 . 40.6%483.716.4%35.5 During the six months ended 30 June 2023 (“the Period”),