泰山石油(000554) - 2024 Q2 - 季度财报

Financial Performance - The company's operating revenue for the first half of 2024 was CNY 1,682,700,516.68, representing a 0.55% increase compared to CNY 1,673,577,832.74 in the same period last year[12]. - Net profit attributable to shareholders was CNY 35,924,228.48, a significant increase of 170.26% from CNY 13,292,391.54 in the previous year[12]. - The net cash flow from operating activities improved to CNY 338,816,365.28, a 288.77% increase compared to a negative cash flow of CNY 179,488,708.22 in the same period last year[12]. - Basic earnings per share rose to CNY 0.0747, reflecting a 166.79% increase from CNY 0.028 in the previous year[12]. - The total profit for the period was CNY 49.058 million, with a significant increase in operating cash flow, which rose by 288.77% to CNY 338.816 million[20]. - The company reported a net profit excluding non-recurring gains and losses of CNY 36,782,759.72, a 166.14% increase from CNY 13,820,983.16 in the previous year[12]. - The company's operating revenue for the first half of 2024 reached ¥1,627,000,598.07, representing an increase of 11.90% compared to the same period last year[22]. - The company reported a total comprehensive income for the first half of 2024 was ¥36,335,657.92, compared to ¥13,396,564.96 in the same period of 2023, indicating a substantial increase[72]. Asset and Liability Management - Total assets decreased by 15.39% to CNY 1,517,233,450.97 from CNY 1,793,289,575.32 at the end of the previous year[12]. - The company's current assets totaled CNY 545,908,947.72, down from CNY 788,415,011.28, indicating a decrease of about 30.8%[64][66]. - Total liabilities decreased to CNY 525,474,117.16 from CNY 834,494,894.22, reflecting a reduction of about 37.0%[66]. - The company's equity attributable to shareholders increased to CNY 987,667,576.01 from CNY 955,114,352.74, showing a growth of approximately 3.4%[66]. - The company reported a significant reduction in accounts payable, which fell to CNY 299,428,947.98 from CNY 515,908,221.44, a decrease of about 42.0%[66]. Market and Sales Performance - Gasoline sales accounted for 72.71% of total revenue, increasing by 6.60% year-on-year, while diesel sales decreased by 15.53% to 23.63% of total revenue[21]. - The company maintained a market share of 33% in the refined oil market in Tai'an, reinforcing its position as the largest distributor in the region[18]. - The company executed 13 rounds of price adjustments in the domestic refined oil market during the first half of 2024, with a pattern of 6 increases, 4 decreases, and 3 unchanged[20]. - The company achieved a sales revenue of CNY 1.683 billion in the first half of 2024, representing a 0.55% increase compared to CNY 1.674 billion in the same period last year[20]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of CNY 0.2 per 10 shares to all shareholders, based on a total of 480,793,318 shares[3]. - The company reported a cash dividend of CNY 9,615,866.36 for the first half of 2024, representing 100% of the total distributable profit of CNY 187,455,270.35[34]. - The total number of shares is 480,793,318, with 24.57% being limited sale condition shares and 75.43% being unrestricted sale condition shares[54]. - The largest shareholder, Sinopec Limited, holds 118,140,121 shares, representing 24.57% of total shares[53]. Operational Developments - The company has accelerated the construction of charging stations and LNG refueling stations, with 236 charging guns installed and a total charging volume of 238.5 million kWh[18]. - The company has established a new e-commerce department to enhance online sales and promote local products through various digital platforms[18]. - The company is actively expanding its LNG network and enhancing its charging station infrastructure to support a comprehensive energy service model[34]. - The company has implemented strict cost control measures, resulting in a 37.13% increase in income tax expenses, reflecting improved profitability[20]. Risk Management and Compliance - The company is focusing on risk prevention and management improvement to solidify its development foundation[34]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[36]. - The company has implemented measures to protect the rights of consumers, suppliers, and employees, ensuring compliance with quality standards and labor regulations[37]. - The company did not experience any major litigation or arbitration matters during the reporting period[40]. Financial Reporting and Accounting Policies - The half-year financial report was not audited[39]. - The financial report for the first half of 2024 has not been audited[63]. - The financial statements have been prepared in accordance with the accounting standards issued by the Ministry of Finance[92]. - The company’s financial report reflects its financial position and operating results as of June 30, 2024, in a true and complete manner[95]. Inventory and Receivables Management - Inventory decreased by 27.01% to ¥125,114,623.20, representing 8.25% of total assets[23]. - The company reported a significant portion of accounts receivable, with 99.93% attributed to Shandong Tai'an Transportation Group Co., Ltd., amounting to ¥5,000,000.00[175]. - The total bad debt provision at the end of the period is CNY 52,218,402.21, with a provision ratio of 100% for specific items[179]. - The inventory at the end of the period is valued at CNY 125,114,623.20, down from CNY 632,317,757.56 at the beginning of the period[187]. Future Outlook and Strategic Initiatives - The company plans to enhance its core competitiveness by integrating new energy with its main business and focusing on digital economy development[28]. - Future outlook includes continued focus on cost management and operational efficiency to sustain profitability growth[71]. - The company emphasizes innovation and aims to enhance core competitiveness through business model restructuring and management transformation[34].