TL NATURAL GAS
HOLDINGS LIMITED
(Incorporated in the Cayman Islands with limited liability)
Stock Code : 8536
Third Quarterly
Report 2021
01
CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE")
GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.
Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange and no assurance is given that there will be a liquid market in the securities traded on GEM.
Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report.
This report, for which the directors (the "Directors") of TL Natural Gas Holdings Limited (the "Company", and together with its subsidiaries, the "Group", "we" or "our") collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the "GEM Listing Rules") for the purpose of giving information with regard to the Group. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief, the information contained in this report is accurate and complete in all material respects and not misleading or deceptive and there are no other matters the omission of which would make any statement herein or this report misleading.
Unless otherwise stated, all monetary figures are expressed in Renminbi ("RMB").
In the context of this report, compressed natural gas ("CNG") refers to natural gas that has been compressed to a high density through high pressure and is used as a clean alternative fuel for vehicles.
This report will remain on the website of GEM at www.hkgem.com on the "Latest Company Announcements" page for at least 7 days from the date of publication and on the website of the Company at www.tl-cng.com.
TL NATURAL GAS HOLDINGS LIMITED | THIRD QUARTERLY REPORT 2021 |
02
UNAUDITED THIRD QUARTERLY RESULTS
The board of Directors (the "Board") is pleased to report the unaudited condensed consolidated financial results of the Group for the three months and the nine months ended 30 September 2021 (the "Period"), together with the unaudited comparative figures for the corresponding periods in 2020, are as follows:
CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
For the three months and the nine months ended 30 September 2021
Three months ended | Nine months ended | ||||
30 September | 30 September | ||||
2021 | 2020 | 2021 | 2020 | ||
Notes | RMB'000 | RMB'000 | RMB'000 | RMB'000 | |
REVENUE | 4 | 10,080 | 15,153 | 33,900 | 34,771 |
Cost of sales | (11,325) | (14,770) | (37,897) | (34,735) | |
Gross (loss)/profit | (1,245) | 383 | (3,997) | 36 | |
Other income and gains | 4 | 3,331 | 337 | 3,390 | 3,987 |
Selling and distribution expenses | (162) | (335) | (458) | (739) | |
Administrative expenses | (1,734) | (3,139) | (4,817) | (10,572) | |
Reversal of impairment losses | |||||
on financial assets | 12 | - | 2,126 | - | |
Share of profits and losses of | |||||
an associate | (3) | (30) | (23) | (81) | |
Finance cost | 6 | (133) | (262) | (716) | (835) |
Other expenses | (3,037) | - | (3,037) | (172) | |
LOSS BEFORE TAX | 5 | (2,971) | (3,046) | (7,532) | (8,376) |
Income tax credit/(expense) | 7 | 186 | 46 | (604) | 98 |
LOSS FOR THE PERIOD | (2,785) | (3,000) | (8,136) | (8,278) | |
Loss attributable to: | |||||
Owners of the parent | (2,785) | (3,000) | (8,136) | (8,278) | |
Non-controlling interests | - | - | - | - | |
(2,785) | (3,000) | (8,136) | (8,278) | ||
(restated) | (restated) | ||||
LOSS PER SHARE ATTRIBUTABLE | |||||
TO ORDINARY EQUITY | |||||
HOLDERS OF THE PARENT | |||||
DURING THE PERIOD | |||||
Basic and diluted (cents) | 8 | (1.57) | (1.81) | (4.75) | (5.36) |
TL NATURAL GAS HOLDINGS LIMITED | THIRD QUARTERLY REPORT 2021 |
03
CONDENSED CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME
For the three months and the nine months ended 30 September 2021
Three months ended | Nine months ended | |||
30 September | 30 September | |||
2021 | 2020 | 2021 | 2020 | |
Notes | RMB'000 | RMB'000 | RMB'000 | RMB'000 |
LOSS FOR THE PERIOD | (2,785) | (3,000) | (8,136) | (8,278) |
OTHER COMPREHENSIVE INCOME | ||||
Other comprehensive loss that may | ||||
be reclassified to profit or | ||||
loss in subsequent periods: | ||||
Exchange differences on translation | ||||
of foreign operations | (46) | (1,078) | (244) | (313) |
Net other comprehensive loss that | ||||
may be reclassified to profit or | ||||
loss in subsequent periods | (46) | (1,078) | (244) | (313) |
Other comprehensive (loss)/income | ||||
that will not be reclassified to | ||||
profit or loss in subsequent | ||||
periods: | ||||
Exchange differences on translation | ||||
of the Company's financial | ||||
statements | (74) | - | 154 | - |
Net other comprehensive (loss)/ | ||||
income that will not be | ||||
reclassified to profit or loss in | ||||
subsequent periods | (74) | - | 154 | - |
OTHER COMPREHENSIVE LOSS | ||||
FOR THE PERIOD, NET OF TAX | (120) | (1,078) | (90) | (313) |
TOTAL COMPREHENSIVE LOSS | ||||
FOR THE PERIOD | (2,905) | (4,078) | (8,226) | (8,591) |
Total comprehensive loss | ||||
attributable to: | ||||
Owners of the parent | (2,905) | (4,078) | (8,226) | (8,591) |
Non-controlling interests | - | - | - | - |
(2,905) | (4,078) | (8,226) | (8,591) | |
TL NATURAL GAS HOLDINGS LIMITED | THIRD QUARTERLY REPORT 2021 |
04
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the nine months ended 30 September 2021
Attributable to Owners of the Parent | |||||||||||
Equity | |||||||||||
Share | component | ||||||||||
Share | Share | of | Exchange | Non- | |||||||
option | convertible | Capital | fluctuation | Statutory | Retained | controlling | Total | ||||
capital | premium | reserve | bonds | reserve | reserve | reserve | profits | Total | interests | equity | |
RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | RMB'000 | |
At 1 January 2020 | 4,135 | 52,723 | - | - | 17,350 | 5,059 | 2,112 | 1,985 | 83,364 | - | 83,364 |
Loss for the period | - | - | - | - | - | - | - | (8,278) | (8,278) | - | (8,278) |
Other comprehensive loss for | |||||||||||
the period: | |||||||||||
Exchange differences on | |||||||||||
translation of foreign | |||||||||||
operations | - | - | - | - | - | (313) | - | - | (313) | - | (313) |
Total comprehensive loss for | |||||||||||
the period | - | - | - | - | - | (313) | - | (8,278) | (8,591) | - | (8,591) |
Issue of shares of the Company | 1,066 | 14,333 | - | - | - | - | - | - | 15,399 | - | 15,399 |
Equity-settled share option | |||||||||||
arrangements | - | - | 3,189 | - | - | - | - | - | 3,189 | - | 3,189 |
Issue of convertible bonds | - | - | - | 4,642 | - | - | - | - | 4,642 | - | 4,642 |
Conversion of convertible bonds | 406 | 6,935 | - | (2,227) | - | - | - | - | 5,114 | - | 5,114 |
At 30 September 2020 | 5,607 | 73,991 | 3,189 | 2,415 | 17,350 | 4,746 | 2,112 | (6,293) | 103,117 | - | 103,117 |
At 1 January 2021 | 5,607 | 74,190 | 3,068 | 2,029 | 17,350 | 3,601 | 2,112 | (20,656) | 87,301 | - | 87,301 |
Loss for the period | - | - | - | - | - | - | - | (8,136) | (8,136) | - | (8,136) |
Other comprehensive loss for | |||||||||||
the period: | |||||||||||
Exchange differences on | |||||||||||
translation of foreign | - | - | - | - | - | (244) | - | - | (244) | - | (244) |
operations | |||||||||||
Exchange differences on | |||||||||||
translation of the Company's | - | - | - | - | - | 154 | - | - | 154 | - | 154 |
financial statements | |||||||||||
Total comprehensive loss for | - | - | - | - | - | (90) | - | (8,136) | (8,226) | - | (8,226) |
the period | |||||||||||
Equity-settled share option | - | - | 1,063 | - | - | - | - | - | 1,063 | - | 1,063 |
arrangements | |||||||||||
Conversion of convertible bonds | 383 | 6,370 | - | (2,029) | - | - | - | - | 4,724 | - | 4,724 |
At 30 September 2021 | 5,990 | 80,560 | 4,131 | - | 17,350 | 3,511 | 2,112 | (28,792) | 84,862 | - | 84,862 |
TL NATURAL GAS HOLDINGS LIMITED | THIRD QUARTERLY REPORT 2021 |
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