Ouhua Energy AJ2

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Financials

Ouhua Energy Holdings Limited Annual Report 2025

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8 tables

Consolidated Statement of Profit or Loss and Other Comprehensive Income

21 metrics

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Consolidated Statement of Profit or Loss and Other Comprehensive Income from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Profit or loss
RevenueRMB’000 2,170,7412,664,594 PDF p. 44
Cost of salesRMB’000 (2,143,449)(2,629,287) PDF p. 44
Gross profitRMB’000 27,29235,307 PDF p. 44
Other operating incomeRMB’000 6,7376,363 PDF p. 44
Selling and distribution expensesRMB’000 (40,570)(54,516) PDF p. 44
Administrative expensesRMB’000 (16,686)(20,200) PDF p. 44
Other operating expensesRMB’000 (18,678)(22,126) PDF p. 44
SubtotalRMB’000 (41,905)(55,172) PDF p. 44
Finance costsRMB’000 (17,362)(21,437) PDF p. 44
Loss before income taxRMB’000 (59,267)(76,609) PDF p. 44
Income taxRMB’000 (46)7,052 PDF p. 44
Loss for the financial yearRMB’000 (59,313)(69,557) PDF p. 44
Other comprehensive loss
Exchange differences on translation foreign operationsRMB’000 (303)(674) PDF p. 44
Total comprehensive loss for the financial yearRMB’000 (59,616)(70,231) PDF p. 44
(Loss)/profit attributable to
Owners of the parentRMB’000 (59,672)(69,456) PDF p. 44
Non-controlling interestsRMB’000 359(101) PDF p. 44
SubtotalRMB’000 (59,313)(69,557) PDF p. 44
Total comprehensive (loss)/profit attributable to
Owners of the parentRMB’000 (59,975)(70,130) PDF p. 44
Non-controlling interestsRMB’000 359(101) PDF p. 44
SubtotalRMB’000 (59,616)(70,231) PDF p. 44
Loss per share attributable to owners of the Company (RMB fen per share)
Basic and dilutedRMB fen per share (16)(19) PDF p. 44
Definitions & sources

Original report: PDF p. 44 ↗

The statement says the accompanying notes form an integral part of and should be read in conjunction with these financial statements.

The other comprehensive loss heading specifies components that may be reclassified subsequently to profit or loss, net of tax.

Statements of Financial Position — Group

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Statements of Financial Position — Group from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Non-current assets
Property, plant and equipmentRMB’000 182,495212,413 PDF p. 45
Intangible assetsRMB’000 3,3423,432 PDF p. 45
SubtotalRMB’000 185,837215,845 PDF p. 45
Current assets
InventoriesRMB’000 67,840139,341 PDF p. 45
Trade and other receivablesRMB’000 365,355293,944 PDF p. 45
Due from related partiesRMB’000 76,389118,032 PDF p. 45
Pledged fixed depositsRMB’000 3,78729,768 PDF p. 45
Cash and cash equivalentsRMB’000 21,434173,919 PDF p. 45
SubtotalRMB’000 534,805755,004 PDF p. 45
Financial position
Total assetsRMB’000 720,642970,849 PDF p. 45
Current liabilities
Trade and other payablesRMB’000 100,295147,872 PDF p. 45
Due to related partiesRMB’000 11,92212,842 PDF p. 45
Due to a subsidiaryRMB’000 –– PDF p. 45
Due to holding companyRMB’000 1,7571,797 PDF p. 45
Bank borrowingsRMB’000 365,285486,000 PDF p. 45
Lease liabilitiesRMB’000 11,68111,946 PDF p. 45
Income tax payableRMB’000 4,79711,454 PDF p. 45
SubtotalRMB’000 495,737671,911 PDF p. 45
Non-current liabilities
Bank borrowingsRMB’000 19,21623,567 PDF p. 45
Lease liabilitiesRMB’000 25,68535,676 PDF p. 45
Deferred tax liabilitiesRMB’000 2,8232,898 PDF p. 45
SubtotalRMB’000 47,72462,141 PDF p. 45
Financial position
Net assetsRMB’000 177,181236,797 PDF p. 45
Issued capital and reserves attributable to owners of the Company
Share capitalRMB’000 149,488149,488 PDF p. 45
Treasury sharesRMB’000 (4,783)(4,783) PDF p. 45
Share premiumRMB’000 130,298130,298 PDF p. 45
Statutory reserveRMB’000 20,95320,953 PDF p. 45
Foreign currency translation reserveRMB’000 2,8193,122 PDF p. 45
Accumulated lossesRMB’000 (125,999)(66,327) PDF p. 45
SubtotalRMB’000 172,776232,751 PDF p. 45
Equity
Non-controlling interestsRMB’000 4,4054,046 PDF p. 45
SubtotalRMB’000 177,181236,797 PDF p. 45
Definitions & sources

Original report: PDF p. 45 ↗

The statement is as at 31 December 2025. The accompanying notes form an integral part of and should be read in conjunction with these financial statements.

Statements of Financial Position — Company

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Statements of Financial Position — Company from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2025Company2024Company Source
Non-current assets
Investments in subsidiariesRMB’000 284,277284,277 PDF p. 45
SubtotalRMB’000 284,277284,277 PDF p. 45
Current assets
Trade and other receivablesRMB’000 239– PDF p. 45
Due from related partiesRMB’000 6867 PDF p. 45
Cash and cash equivalentsRMB’000 314393 PDF p. 45
SubtotalRMB’000 621460 PDF p. 45
Financial position
Total assetsRMB’000 284,898284,737 PDF p. 45
Current liabilities
Trade and other payablesRMB’000 4,7514,256 PDF p. 45
Due to related partiesRMB’000 4,6134,658 PDF p. 45
Due to a subsidiaryRMB’000 44,58341,800 PDF p. 45
Due to holding companyRMB’000 1,7571,797 PDF p. 45
Bank borrowingsRMB’000 –– PDF p. 45
Lease liabilitiesRMB’000 –– PDF p. 45
Income tax payableRMB’000 –– PDF p. 45
SubtotalRMB’000 55,70452,511 PDF p. 45
Non-current liabilities
Bank borrowingsRMB’000 –– PDF p. 45
Lease liabilitiesRMB’000 –– PDF p. 45
Deferred tax liabilitiesRMB’000 –– PDF p. 45
SubtotalRMB’000 –– PDF p. 45
Financial position
Net assetsRMB’000 229,194232,226 PDF p. 45
Issued capital and reserves attributable to owners of the Company
Share capitalRMB’000 149,488149,488 PDF p. 45
Treasury sharesRMB’000 (4,783)(4,783) PDF p. 45
Share premiumRMB’000 130,298130,298 PDF p. 45
Statutory reserveRMB’000 –– PDF p. 45
Foreign currency translation reserveRMB’000 (40,895)(42,113) PDF p. 45
Accumulated lossesRMB’000 (4,914)(664) PDF p. 45
SubtotalRMB’000 229,194232,226 PDF p. 45
Equity
Non-controlling interestsRMB’000 –– PDF p. 45
SubtotalRMB’000 229,194232,226 PDF p. 45
Definitions & sources

Original report: PDF p. 45 ↗

The statement is as at 31 December 2025. The accompanying notes form an integral part of and should be read in conjunction with these financial statements.

Key Financial Ratio — Earnings per Share

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Key Financial Ratio — Earnings per Share from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2021Group2022Group2023Group2024Group2025Group Source
Key Financial Ratio
Earnings per Share (RMB cents)RMB cents per share 8.6212.655.00(18.53)(16.00) PDF p. 10
Definitions & sources

Original report: PDF p. 10 ↗

Consolidated Statement of Profit or Loss and Other Comprehensive Income

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Consolidated Statement of Profit or Loss and Other Comprehensive Income from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Profit or loss
RevenueRMB’000 2,170,7412,664,594 PDF p. 44
Cost of salesRMB’000 (2,143,449)(2,629,287) PDF p. 44
Gross profitRMB’000 27,29235,307 PDF p. 44
Other operating incomeRMB’000 6,7376,363 PDF p. 44
Selling and distribution expensesRMB’000 (40,570)(54,516) PDF p. 44
Administrative expensesRMB’000 (16,686)(20,200) PDF p. 44
Other operating expensesRMB’000 (18,678)(22,126) PDF p. 44
Loss from operationsRMB’000 (41,905)(55,172) PDF p. 44
Finance costsRMB’000 (17,362)(21,437) PDF p. 44
Loss before income taxRMB’000 (59,267)(76,609) PDF p. 44
Income taxRMB’000 (46)7,052 PDF p. 44
Loss for the financial yearRMB’000 (59,313)(69,557) PDF p. 44
Other comprehensive loss
Exchange differences on translation foreign operationsRMB’000 (303)(674) PDF p. 44
Total comprehensive loss for the financial yearRMB’000 (59,616)(70,231) PDF p. 44
Loss/profit attributable to
Owners of the parentRMB’000 (59,672)(69,456) PDF p. 44
Non-controlling interestsRMB’000 359(101) PDF p. 44
Total loss for the financial yearRMB’000 (59,313)(69,557) PDF p. 44
Total comprehensive loss/profit attributable to
Owners of the parentRMB’000 (59,975)(70,130) PDF p. 44
Non-controlling interestsRMB’000 359(101) PDF p. 44
Total comprehensive lossRMB’000 (59,616)(70,231) PDF p. 44
Loss per share attributable to owners of the Company
Basic and dilutedRMB fen per share (16)(19) PDF p. 44
Definitions & sources

Original report: PDF p. 44 ↗

The statement describes other comprehensive loss as components that may be reclassified subsequently to profit or loss, net of tax.

The accompanying notes form an integral part of and should be read in conjunction with these financial statements.

Consolidated Statement of Cash Flows

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Consolidated Statement of Cash Flows from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2025Group2024Group Source
Operating activities
Loss before income taxRMB’000 (59,267)(76,609) PDF p. 47
Adjustments for
Depreciation of property, plant and equipmentRMB’000 23,62012,250 PDF p. 47
Amortisation of intangible assetsRMB’000 9090 PDF p. 47
Interest incomeRMB’000 (137)(369) PDF p. 47
Interest expenseRMB’000 17,36221,437 PDF p. 47
Loss on disposal of property, plant and equipmentRMB’000 10334 PDF p. 47
Property, plant and equipment written offRMB’000 7,900– PDF p. 47
Operating activities
Operating loss before movements in working capitalRMB’000 (10,329)(43,167) PDF p. 47
Changes in working capital
InventoriesRMB’000 71,501106,879 PDF p. 47
Trade and other receivablesRMB’000 (71,411)3,957 PDF p. 47
Due from related partiesRMB’000 41,643(46,366) PDF p. 47
Trade and other payablesRMB’000 (47,577)(23,486) PDF p. 47
Operating activities
Cash used in operationsRMB’000 (16,173)(2,183) PDF p. 47
Interest receivedRMB’000 137369 PDF p. 47
Income tax paid/refundedRMB’000 (6,778)2,536 PDF p. 47
Cash flows (used in)/generated from operating activitiesRMB’000 (22,814)722 PDF p. 47
Investing activities
Purchase of property, plant and equipmentRMB’000 (1,866)(202) PDF p. 47
Proceeds from disposal of property, plant and equipmentRMB’000 16164 PDF p. 47
Cash flows used in investing activitiesRMB’000 (1,705)(138) PDF p. 47
Financing activities
Decreased in pledged fixed depositsRMB’000 25,98110,238 PDF p. 47
(Advances to)/Repayment from related partiesRMB’000 (920)3,278 PDF p. 47
Proceeds from bank borrowingsRMB’000 1,234,303486,000 PDF p. 47
Repayments of bank borrowingsRMB’000 (1,375,036)(472,116) PDF p. 47
Repayments of lease liabilitiesRMB’000 (11,951)(12,262) PDF p. 47
Purchase of treasury sharesRMB’000 –(2,277) PDF p. 47
Effect of foreign currency re-alignment on financing activitiesRMB’000 (40)26 PDF p. 47
Cash flows (used in)/generated from financing activitiesRMB’000 (127,663)12,887 PDF p. 47
Cash and cash equivalents
Net (decrease)/increase in cash and cash equivalentsRMB’000 (152,182)13,471 PDF p. 47
Cash and cash equivalents at beginning of financial yearRMB’000 173,919161,122 PDF p. 47
Effect of foreign exchange rate changes in cash and cash equivalentsRMB’000 (303)(674) PDF p. 47
Cash and cash equivalents at end of financial yearRMB’000 21,434173,919 PDF p. 47
Definitions & sources

Original report: PDF p. 47 ↗

The accompanying notes form an integral part of and should be read in conjunction with these financial statements.

Key Financial Ratio

5 metrics

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Key Financial Ratio from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2021FY 20212022FY 20222023FY20232024FY20242025FY2025 Source
Key Financial Ratio
Earnings per Share (RMB cents)RMB cents 8.6212.655.00(18.53)(16.00) PDF p. 10
Gross Margin (%)% 3.683.984.151.331.26 PDF p. 10
Net Margin (%)% 0.91.00.6(2.6)(2.7) PDF p. 10
Gearing Ratio (times)times 0.81.41.62.22.2 PDF p. 10
NAV (RMB cents)RMB cents 62.775.381.963.247.5 PDF p. 10
Definitions & sources

Original report: PDF p. 10 ↗

(1) Gearing ratio equals to total borrowings divided by equity

Production Data

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Production Data from Ouhua Energy Holdings Limited Annual Report 2025
Metric / unit 2021FY 20212022FY 20222023FY20232024FY20242025FY2025 Source
Production Data
Designed Capacity (tonnes)tonnes 900,000900,000900,000900,000900,000 PDF p. 10
Weighted Average Design Capacity (tonnes)tonnes 900,000900,000900,000900,000900,000 PDF p. 10
Actual Output (tonnes)tonnes 802,660897,543761,285572,967489,414 PDF p. 10
Actual Output (percentage)percentage 89.299.784.663.754.4 PDF p. 10
Definitions & sources

Original report: PDF p. 10 ↗

Where the money comes from

Segment information

By business

Operating segments – results 6 lines
Operating segments – results
Item / unit 2025Liquefied Petroleum Gas segment2025Others segment2025Elimination2025Total2024Liquefied Petroleum Gas segment2024Others segment2024Elimination2024Total Source
Turnover
External salesRMB’000 2,164,1616,580–2,170,7412,658,6455,949–2,664,594 PDF p. 96
Results
Earnings before interest, taxes, depreciation and amortisation (EBITDA)RMB’000 (20,562)1,375855(18,332)(40,974)(1,292)(935)(43,201) PDF p. 96
Interest incomeRMB’000 11720–13734821–369 PDF p. 96
Interest expensesRMB’000 (16,930)(1,429)997(17,362)(21,437)––(21,437) PDF p. 96
Depreciation and amortisationRMB’000 (21,987)(1,723)–(23,710)(12,340)––(12,340) PDF p. 96
Reportable segment loss before income taxRMB’000 (59,362)(1,757)1,852(59,267)(74,403)(1,271)(935)(76,609) PDF p. 96
Notes

Information regarding the continuing operations’ results of each reportable segment. Note 33: only one reportable operating segment stated by the Group; all non-current assets are located in the PRC.

Comparative year of Note 33 segment results.

Operating segments – assets, liabilities and capital expenditure 5 lines
Operating segments – assets, liabilities and capital expenditure
Item / unit 2025Liquefied Petroleum gas segment2025Others segment2025Elimination2025Total2024Liquefied Petroleum gas segment2024Others segment2024Elimination2024Total Source
Assets
Segment assetsRMB’000 726,532359,365(365,255)720,642962,268366,573(357,992)970,849 PDF p. 97
Total assetsRMB’000 726,532359,365(365,255)720,642962,268366,573(357,992)970,849 PDF p. 97
Liabilities
Segment liabilitiesRMB’000 500,248116,375(73,162)543,461676,888107,358(50,194)734,052 PDF p. 97
Total liabilitiesRMB’000 500,248116,375(73,162)543,461676,888107,358(50,194)734,052 PDF p. 97
Capital expenditure
Capital expenditureRMB’000 1,866––1,866202––202 PDF p. 97

By geography

Geographical segments – distribution of total sales by geographical markets 2 lines
Geographical segments – distribution of total sales by geographical markets
Item / unit 2025Group2024Group Source
Distribution of total sales by geographical markets
PRCRMB’000 2,160,9382,558,566 PDF p. 97
Asia PacificRMB’000 9,803106,028 PDF p. 97
Notes

Segment revenue is based on the geographical presence of the markets. Total 2,170,741 (2025) and 2,664,594 (2024) printed unlabelled. Major customers: one related-party customer of the LPG segment represents approximately RMB 106,486,000 (2024: RMB 148,144,000). The Group’s results and assets are mainly pertaining to the PRC market.

Revenue – disaggregation by primary geographical markets and reportable segments 8 lines
Revenue – disaggregation by primary geographical markets and reportable segments
Item / unit 2025Liquefied Petroleum Gas2024Liquefied Petroleum Gas2025Others2024Others2025Total2024Total Source
Primary geographical markets
PRCRMB’000 2,154,3582,552,6176,5805,9492,160,9382,558,566 PDF p. 67
Asia PacificRMB’000 9,803106,028––9,803106,028 PDF p. 67
TotalRMB’000 2,164,1612,658,6456,5805,9492,170,7412,664,594 PDF p. 67
Major product/service lines
Propane (“C3”)RMB’000 2,95636,931––2,95636,931 PDF p. 67
Butane (“C4”)RMB’000 6,84769,097––6,84769,097 PDF p. 67
ElectricityRMB’000 ––6,5805,9496,5805,949 PDF p. 67
Timing of revenue recognition
Over timeRMB’000 ––6,5805,9496,5805,949 PDF p. 67
At a point in timeRMB’000 2,164,1612,658,645––2,164,1612,658,645 PDF p. 67
Notes

The LPG product line row (“LPG”) wraps across two lines: values 2,154,358 / 2,552,617 / – / – / 2,154,358 / 2,552,617 (not given as separate row). Table reconciles disaggregated revenue with reportable segments. The Total rows for product lines and timing repeat the same totals.

Debt

Borrowings

Borrowing notes 3 tables

Bank borrowings

Bank borrowings — Group
Item / unit 2025RMB'0002024RMB'000 Source
Due within 1 year
Trust receiptsRMB'000 82,127206,000 PDF p. 77
Bank loan ARMB'000 –100,000 PDF p. 77
Bank loan BRMB'000 –114,750 PDF p. 77
Bank loan CRMB'000 –65,250 PDF p. 77
Bank loan DRMB'000 100,000– PDF p. 77
Bank loan ERMB'000 68,000– PDF p. 77
Bank loan FRMB'000 46,000– PDF p. 77
Bank loan GRMB'000 66,000– PDF p. 77
Bank loan HRMB'000 578– PDF p. 77
Bank loan IRMB'000 2,580– PDF p. 77
Due after one year
Bank loan HRMB'000 3,6114,767 PDF p. 77
Bank loan IRMB'000 15,60518,800 PDF p. 77
Notes

Subtotals printed: due within 1 year 365,285 (2025) / 486,000 (2024); due after one year 19,216 / 23,567; total 384,501 / 509,567.

Trust receipts were secured by pledged fixed deposits (Note 17) and corporate guarantees from related parties and personal guarantee by a director.

The borrowing rates for trust receipts and bank loans range between 2.08% (2024: 4.00%) and 4.07% (2024: 4.30%).

Bank loans A-G are secured Renminbi loans (corporate guarantees from related parties and personal guarantee by a director), 1-year terms; rates: A-D 4.00%, E-G 3.60%. Bank loans H and I are secured Renminbi loans (corporate guarantees and collateralised by certain equipment), 9-year terms, repayable Feb 2033 and Dec 2033, rate 4.30%.

The carrying amounts of bank borrowings approximate their fair values.

Statement of financial position - borrowings and lease liabilities

Statement of financial position - borrowings and lease liabilities
Item / unit 2025Group, RMB'0002024Group, RMB'0002025Company, RMB'0002024Company, RMB'000 Source
Current liabilities
Bank borrowingsRMB'000 365,285486,000–– PDF p. 45
Lease liabilitiesRMB'000 11,68111,946–– PDF p. 45
Non-current liabilities
Bank borrowingsRMB'000 19,21623,567–– PDF p. 45
Lease liabilitiesRMB'000 25,68535,676–– PDF p. 45

Currency denomination of Group bank borrowings and lease liabilities

Currency denomination of Group bank borrowings and lease liabilities — Group
Item / unit 2025USD, RMB'0002025RMB, RMB'0002025SGD, RMB'0002025EUR, RMB'0002025Total, RMB'0002024USD, RMB'0002024RMB, RMB'0002024SGD, RMB'0002024EUR, RMB'0002024Total, RMB'000 Source
Group Financial liabilities
Bank borrowingsRMB'000 –384,501––384,501–509,567––509,567 PDF p. 91PDF p. 92
Lease liabilitiesRMB'000 –37,366––37,366–47,622––47,622 PDF p. 91PDF p. 92
Notes

Amounts are carrying amounts of monetary liabilities by currency.

Payout

Dividends & distributions

Dividend policy

ItemValuePeriod / scopeSource
Dividend policy The Company does not have a fixed dividend policy. The form, frequency and amount of dividends will depend on the Company’s earnings, general financial condition, results of operations, capital requirements, cash flow, general business conditions, development plans and other factors as the Directors may deem appropriate. Notwithstanding the above, any declaration of dividends is clearly communicated to the shareholders via SGXNet. Company PDF p. 34

Extracted from Ouhua Energy Holdings Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

Auditor’s report

Audit & risk signals

Audit opinion

ItemValuePeriod / scopeSource
Audit firm FORVIS MAZARS LLP Group and Company, FY ended 31 December 2025 PDF p. 43
Engagement partner Lai Keng Wei FY ended 31 December 2025 PDF p. 43
Opinion properly drawn up in accordance with International Financial Reporting Standards (“IFRS”) so as to give a true and fair view Group financial statements and Company statement of financial position, 31 December 2025 PDF p. 40

Key audit matters

ItemValuePeriod / scopeSource
Revenue Recognition Revenue Recognition Group, FY2025 PDF p. 40
Revenue Recognition – key audit matter there is a presumed fraud risk in revenue recognition Group, FY2025 PDF p. 40
Existence of Cash and Cash Equivalents and Pledged Fixed Deposits Existence of Cash and Cash Equivalents and Pledged Fixed Deposits Group, FY2025 PDF p. 41

Extracted from Ouhua Energy Holdings Limited Annual Report 2025 and checked against the cited pages; see the original report for full context.

How to read these figures

Group and parent company or bank figures are labelled separately. Parentheses indicate negative amounts; a dash and NA retain the report’s notation.

Comparative figures follow Ouhua Energy Holdings Limited Annual Report 2025, including retrospective adjustments. Adjusted and reported earnings may have different definitions; refer to each statement’s notes.

These tables show the available extracted figures. The original annual report contains the full statements, notes and definitions.