Zhitong Financial APP News, Tianyuan Group (06119) announced its results for the year ended December 31, 2021, with an income of 295 million yuan (RMB, the same below), an increase of 70.1% over the same period last year; profit attributable to shareholders was 12.718 million yuan, down 38.9% from the same period last year; and basic profit per share was 0.0212 yuan, with a proposed final dividend of 0.035 yuan per share.

During the period, the increase in earnings was attributable to an increase in revenue from the sale of oil products during the reporting year. In the reporting year, the profit attributable to the group's owners decreased by about 38.9% compared with 2020, mainly due to a decrease in gross profit; an increase in the share of joint venture losses; and an increase in income tax expenses as a result of the proposed withholding tax provision for dividend payments for subsidiaries.