华荣能源2023 中期报告

(Incorporated in the Cayman Islands with limited liability)(於開曼群島註冊成立的有限公司)Stock Code股份代號: 01101 INTERIM REPORT中期報告2023 MANAGEMENT DISCUSSION AND ANALYSIS2CORPORATE GOVERNANCE AND OTHER INFORMATION17DISCLOSURE OF INTERESTS18 CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION INTERIM CONDENSED CONSOLIDATED STATEMENT OFFINANCIAL POSITION21INTERIM CONDENSED CONSOLIDATED STATEMENT OFCOMPREHENSIVE INCOME23INTERIM CONDENSED CONSOLIDATED STATEMENT OFCHANGES IN EQUITY25INTERIM CONDENSED CONSOLIDATED CASH FLOWSTATEMENT27NOTES TO THE CONDENSED CONSOLIDATED INTERIMFINANCIAL INFORMATION28INFORMATION FOR SHAREHOLDERS MANAGEMENTDISCUSSION ANDANALYSIS BUSINESS REVIEW 49.150.920.325.2 For the six months ended 30 June 2023 (the “Period”), the Grouprecorded a revenue of RMB49.1 million, compared to the revenueof RMB50.9 million for the six months ended 30 June 2022 (the“Comparative Period”). The Group generated a gross profit ofRMB20.3 million (for the Comparative Period: RMB25.2 million)from the oil exploration business, as well as the oil storagebusiness. 444.8381.0222.9189.8 Loss attributable to the equity holders of the Company wasRMB444.8 million for the Period, while loss attributable to theequity holders of the Company was RMB381.0 million for theComparative Period. The increase of loss attributable to equityholders of the Company was mainly driven by the currencyexchange fluctuation. The Group recorded a net foreignexchange loss of RMB222.9 million during the Period, whichwas mainly caused by the significant appreciation of borrowingsdenominated in USD and Hong Kong dollar. This is compared witha foreign exchange loss of the Group of RMB189.8 million for theComparative Period. 30.110.4108.1102.4 In addition, the imputed interest expense for interest-free loanfor the Period amounted to RMB30.1 million (for the ComparativePeriod: RMB10.4 million), and the interest expenses wereapproximately RMB108.1 million (for the Comparative Period:RMB102.4 million). Disposal and Relevant Guarantees On 9 October 2018, the Company entered into a conditional saleand purchase agreement (the “Agreement”), to dispose of thecore assets and liabilities of shipbuilding, offshore engineering,engineering machinery and marine engine building segments (the“Shipbuilding and Engineering Businesses”, together with theholding company of the Shipbuilding and Engineering Businessesreferred to as the “Disposal Group”) with an independent thirdparty, Unique Orient Limited (the “Purchaser”) (the “Disposal”).The Disposal constituted a very substantial disposal for theCompany under the Rules Governing the Listing of Securities onThe Stock Exchange of Hong Kong Limited (the “Listing Rules”).An extraordinary general meeting of the Company was held on13 December 2018 in which the Disposal was approved by theshareholders. MANAGEMENT DISCUSSION AND ANALYSIS (1)Able DiligentLimited(2)(3) The Company signed the second supplemental agreement (the“Second Supplemental Agreement”) on 3 March 2019 regardingthe Disposal, pursuant to which (1) the transfer of sale share ofAble Diligent Limited, the holding company of Disposal Group,to the Purchaser shall take place on or before 31 March 2020;(2) the Purchaser agreed to procure the release or dischargeof the relevant guarantees provided by the Company in respectof borrowings owed by the Disposal Group (the “RelevantGuarantees”); and (3) the Purchaser agreed to execute a sharecharge over the sale share in favour of the Company. Able Diligent Limited The Disposal was completed on 10 March 2019 (the “DisposalDay”) when the sale share of Able Diligent Limited (the “SaleShare”) was transferred to the Purchaser. All the assets andliabilities associated to the Disposal, except the financialguarantee contract as mentioned hereafter, were derecognized onthe Disposal Day. The Company signed the third, fourth, fifth andsixth supplemental agreements on 29 August 2019, 30 October2019, 25 March 2021 and 25 March 2022, respectively. Accordingto the latest supplemental agreements, the Purchaser willprocure the discharge or release the Relevant Guarantees andcomplete the relevant registration before 31 December 2023. The Group and the Purchaser have been working closely toprocure the release or discharge of all remaining RelevantGuarantees in full and it was agreed that all debts owing bythe Disposal Group will be assigned to the Purchaser when theRelevant Guarantees have been released or discharged in full andthe relevant registration have been completed. 2,210,636,00037.17% From the Disposal Day till 30 June 2023, financial guaranteesof approximately RMB2,210,636,000 had been discharged,representing 37.17% of the total financial guarantees as at theDisposal Day. Despite there is no Relevant Guarantees discharged during thePeriod, the Company has taken the following actions in respect ofthe discharge of the Relevant Guarantees during the last two anda half years: (i) (i)the Company has ongoing discussions wit