According to the Zhitong Finance App, Zhongmin Holdings (00681) announced its 2023 results, with revenue of approximately RMB 2,514 billion, a year-on-year decrease of 12.35%; losses attributable to company owners were approximately RMB 232 million, a year-on-year profit and loss; loss per share was RMB 2.59 points.

According to the announcement, the pipeline gas distribution business is the Group's main business and the Group's main source of revenue. In the current year, the Group's pipeline gas distribution business achieved revenue of approximately RMB 1,169 million (2022: RMB 954 million), and the pipeline gas distribution business revenue accounted for about 46.53% of the Group's total revenue (2022:33.28%). The overall gross margin of the pipeline gas distribution business this year was about 11.67% (2022:12.82%). This year's gross margin was slightly lowered due to rising gas procurement and sales prices.

In the current year, the group sold a total of 96,332 tons of canned gas (2022:99,717 tons) and achieved total sales revenue of approximately RMB 656 million (2022: RMB 744 million). In the current year, the revenue from the canned gas supply business accounted for about 26.09% of total revenue (2022:25.93%). The gross margin of the canned gas supply business is about 23.52% (2022:19.76%). During this year, due to market influence, user demand decreased, resulting in a decrease in sales volume and revenue share. Gross margin increased due to lower gas procurement and sales prices.