Financial Performance - The net profit attributable to shareholders for 2020 was ¥156,431,757.57, with an undistributed profit at year-end of -¥664,051,428.89, resulting in no profit distribution for the year [6]. - The company's operating revenue for 2020 was CNY 1,088,296,501.51, a decrease of 8.99% compared to CNY 1,195,847,102.19 in 2019 [29]. - The net profit attributable to shareholders for 2020 was CNY 156,431,757.57, a significant recovery from a loss of CNY 130,036,755.55 in 2019 [29]. - The company's total assets at the end of 2020 were CNY 1,705,430,862.39, reflecting a 2.07% increase from CNY 1,670,839,500.81 at the end of 2019 [29]. - The net asset attributable to shareholders increased by 107.38% to CNY 699,472,630.04 in 2020 from CNY 337,286,095.32 in 2019 [29]. - The basic earnings per share for 2020 was CNY 0.34, compared to a loss of CNY 0.31 per share in 2019 [32]. - The weighted average return on equity for 2020 was 30.13%, an increase of 62.49 percentage points from -32.36% in 2019 [32]. - The net cash flow from operating activities for 2020 was CNY -27,911,136.21, down from CNY 85,942,384.39 in 2019 [29]. - In Q4 2020, the company reported a net profit attributable to shareholders of CNY 191,797,241.03, a significant improvement compared to losses in the previous quarters [29]. - The company achieved operating revenue of approximately 1.088 billion yuan, a year-on-year decrease of about 9% [74]. - Net profit attributable to shareholders was approximately 156.43 million yuan during the reporting period [74]. - The company reported a total profit increase of approximately 281.82 million yuan compared to the same period last year, while operating revenue decreased by about 107.55 million yuan [137]. Acquisition and Investment Activities - The company is in the process of acquiring 80% equity in Qingdao Beiyang Tianqing Data Intelligence Co., Ltd., with the board approving the issuance of shares and cash payment for asset acquisition [10]. - The company plans to issue up to 84.4 million A-shares through a non-public offering to finance the acquisition and related expenses [19]. - The company has faced risks related to the implementation of the acquisition and the uncertainties surrounding regulatory approvals from the China Securities Regulatory Commission [10]. - The company successfully raised funds through a non-public offering, increasing its registered capital from RMB 422 million to RMB 485 million, with all proceeds allocated to its subsidiary [69]. - The company is acquiring 80% equity in Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd., which is subject to regulatory approval and carries certain uncertainties [130]. - The company plans to transfer real estate assets valued at approximately RMB 410.195 million (including VAT) from its subsidiary Beijing Tianhai Industrial Co., Ltd. to Beijing Jingcheng Mechanical and Electrical Asset Management Co., Ltd. [120]. Market and Product Development - The company plans to continue focusing on market expansion and new product development in the upcoming year [29]. - The company specializes in the production of various gas cylinders, including LNG and CNG cylinders, with a focus on low-cost solutions for vehicle applications [40]. - The company has established itself as a designated supplier for major automotive companies, including Zhengzhou Yutong and Dongfeng Motor, with CNG cylinders exported to Europe, Brazil, Argentina, India, Pakistan, and Thailand [43]. - The company produces high-pressure seamless gas cylinders with a working pressure range of 8-35 Mpa and has exported to over 40 countries and regions [44]. - The company has developed LNG refueling station equipment characterized by mature technology, reliable thermal insulation, and high automation, enabling lossless operation and reduced on-site construction volume [58]. - The LNG gasification station is designed to convert LNG into gaseous natural gas for residential and industrial use, with a focus on customized large-scale gasification stations [59]. - The company is focusing on increasing its market share in LNG cylinder products and enhancing its clean energy equipment offerings [129]. - The company anticipates the domestic hydrogen refueling station count to exceed 200 by 2021, driven by government support for hydrogen fuel cell vehicles [128]. - The company is committed to innovation and product development, particularly in the hydrogen energy sector, to establish a leading position [128]. Risk Management and Compliance - The company emphasizes the importance of risk management and internal control to ensure orderly business operations and mitigate operational risks [89]. - The company has not experienced any non-operating fund occupation by controlling shareholders or related parties [8]. - The company has not violated decision-making procedures for external guarantees [8]. - The company has received a standard unqualified audit report from its accounting firm, ensuring the reliability of its financial statements [5]. - The company has been compliant with legal and regulatory requirements, ensuring that decision-making processes are lawful and operations are standardized [165]. - The company has not reported any major changes in accounting policies or estimates during the reporting period [182]. - The company has not faced any risks of suspension or termination of its listing during the reporting period [185]. Research and Development - Research and development expenses increased significantly by 85.98% to CNY 26.56 million from CNY 14.28 million year-on-year [90]. - The company completed the development and certification of various hydrogen fuel vehicle components, including 35MPa and 70MPa hydrogen tanks [106]. - The company is focusing on the development of high-end equipment manufacturing through the acquisition of Beiyang Tianqing, enhancing its production line capabilities [77]. Corporate Governance - The company’s board and supervisory board members have all attended the board meetings, ensuring accountability for the report's accuracy [5]. - The board of directors held a total of 14 meetings during the reporting period, discussing various financial and operational matters [151]. - The company has established a pension plan requiring a contribution of 20% of total wages for employee basic pension insurance [161]. - The company has implemented a basic medical insurance plan since October 2001, contributing 9% of the total wage base for employee medical insurance fees [162]. - The company has confirmed that all related party transactions were conducted on normal commercial terms and were fair to shareholders [161]. Sales and Revenue - The company reported a 24% year-over-year increase in sales revenue in the European market, maintaining its position as the largest overseas market [86]. - The company achieved an 18% year-over-year revenue growth from multinational gas companies, indicating strengthened relationships in the international market [86]. - Domestic market revenue decreased by 6.48%, while overseas revenue showed a slight increase, particularly in the European market [94]. - The production volume of seamless steel cylinders increased by 10%, while sales volume rose by 4% [96]. - The inventory of seamless steel cylinders increased by 52% due to shipping disruptions caused by the pandemic [99]. Legal and Regulatory Matters - The company is currently involved in a significant lawsuit regarding a contract dispute with Shanghai Junzheng Logistics Co., Ltd., which has been accepted by the Shanghai First Intermediate People's Court [185]. - The company has not disclosed any significant changes in the integrity status of its controlling shareholders or actual controllers during the reporting period [185].

Financial Performance - The company reported a net profit attributable to shareholders of the listed company for 2018 and 2019 as negative, raising concerns about potential suspension of A-share listing if 2020 audited net profit remains negative[5]. - The company's operating revenue for the first half of the year was ¥523,831,648.77, a decrease of 11.98% compared to ¥595,157,618.64 in the same period last year[40]. - The net profit attributable to shareholders of the listed company was -¥24,089,791.77, an improvement from -¥35,573,865.71 in the previous year[40]. - The basic earnings per share for the first half of the year was -¥0.06, compared to -¥0.08 in the same period last year[43]. - The weighted average return on net assets was -7.41%, an increase of 0.51 percentage points from -7.92% in the previous year[43]. - The net cash flow from operating activities was -¥27,666,725.33, a significant decrease of 74.13% compared to ¥15,298,022.79 in the same period last year[40]. - The net profit attributable to the parent company decreased to -24,089,791.77 RMB, showing an improvement compared to -35,573,865.71 RMB in the previous period[89]. - The income tax expense decreased by 37.57% to 990,695.35 RMB, attributed to lower income tax expenses from subsidiaries[89]. - The company's total assets were approximately RMB 1,866.73 million[111]. Legal and Compliance Issues - During the reporting period, a subsidiary faced a lawsuit regarding contract disputes over production and delivery of tanks, which may impact future profits, although the financial effect is currently indeterminate[6]. - The company has a legal advisor based in Beijing, ensuring compliance with local regulations[39]. - The company has committed to ensuring that transactions with related parties are conducted fairly and at reasonable market prices, adhering to legal and regulatory requirements[131]. - The company has pledged to maintain independence in personnel, assets, finance, and operations following the completion of significant asset restructuring, ensuring no adverse impact on the listed company[138]. - The company has acknowledged the potential risks associated with the disposal of assets and has committed to bear any losses or legal responsibilities arising from such transactions[142]. Market and Industry Outlook - The industrial gas market is expected to see increased demand due to policy support from initiatives like "Made in China 2025" and "Energy Conservation and Emission Reduction," with a projected 3.2% year-on-year growth in China's economy in Q2 2020[53]. - The natural gas sector is projected to benefit from urbanization, with an expected urbanization rate of approximately 63% in 2020, leading to a significant increase in gas consumption[56]. - The hydrogen energy industry is anticipated to grow significantly, with the government setting phased development goals for hydrogen technology by 2025 and 2050[59]. Operational Developments - The company operates eight specialized gas storage and transportation equipment production bases, establishing a strong brand presence in the industry[62]. - The company has completed the acquisition of Tianhai America, enhancing its asset portfolio and market position[60]. - The company has established over 30 domestic distribution networks, achieving nationwide coverage and providing components to major domestic automobile manufacturers[64]. - The company has developed a comprehensive product line, including over 800 types of pressure vessels and high-pressure gas storage products, applicable in various industries such as automotive, chemical, and medical[63]. - The company actively promoted LNG and CNG systems, resulting in significant growth in LNG vehicle products entering the domestic OEM market[70]. Financial Strategies and Fundraising - The company reported a net fundraising amount of RMB 207,725,197.96 from a non-public offering of 63,000,000 shares, after deducting issuance costs of RMB 7,104,802.04[60]. - The company successfully conducted a non-public offering of A-shares, raising funds to support hydrogen energy-related projects and improve its capital structure[73]. - The company has established stable relationships with financial institutions to optimize its debt structure and reduce financing costs[76]. Environmental Compliance - The company’s wastewater discharge met the Tianjin municipal standards, with average concentrations of COD at 198.25 mg/L and ammonia nitrogen at 4.35 mg/L in the first half of 2020[184]. - The total wastewater discharge for 2020 was calculated at 53,475 tons, with regular pollutants such as COD and ammonia nitrogen being monitored[185]. - The company has established pollution prevention facilities that operate effectively, including dry filters and catalytic combustion processes[193]. - The company conducts self-monitoring of all emission outlets and pollutants as per the requirements of the Ministry of Ecology and Environment[197]. Employee and Operational Metrics - The company employed 1,574 employees and paid approximately RMB 73.64 million in employee compensation[118][119]. - The company has upgraded its internal management model to enhance operational performance and responsiveness to market changes[64]. - The company is focusing on enhancing its operational efficiency through management innovation and cost control measures[83].

北 京 京 城 機 電 股 份 有 限 公 司 Beijing Jingcheng Machinery Electric Company Limited (a joint stock company incorporated in the People's Republic of China with limited liability) (在中華人民共和國註冊成立之股份有限公司) (H Share Stock Code H 股代號：0187；A Share Stock Code A 股代號：600860) GAS STATION Contents 目錄 1 | --- | --- | |---------------------|-----------------------------------------------------------------------------------------------------| | | | | Section 1 第一節 | DEFINITION 釋義 | | Section 2 第二節 | COMPANY PROFILE AND KEY FINANCI ...

Private Placement and Fundraising - The company plans to issue up to 84.4 million shares in a private placement, aiming to raise no more than RMB 462 million for projects including the construction of an intelligent CNC production line and hydrogen energy product development[4]. - The private placement is intended to repay debts owed by Jingcheng Machinery Electric and financial institutions[4]. - The company has submitted the private placement project to the China Securities Regulatory Commission and received acceptance on July 25, 2019[5]. - The company emphasizes the importance of information confidentiality and compliance with legal disclosure obligations regarding the private placement[5]. - The company is advancing its A-share private placement project to raise funds for the IV-type cylinder project, hydrogen energy R&D, and debt repayment, which will improve its capital and debt structure[52]. Financial Performance - The company's operating revenue for the first half of the year reached ¥595.16 million, representing a 25.30% increase compared to ¥474.97 million in the same period last year[22]. - The net profit attributable to shareholders was a loss of ¥35.57 million, compared to a loss of ¥28.68 million in the previous year[22]. - The net assets attributable to shareholders decreased by 7.65% to ¥431.14 million from ¥466.88 million at the end of the previous year[22]. - The basic earnings per share for the first half of the year was -¥0.08, a decrease from -¥0.07 in the same period last year[22]. - The cash flow from operating activities showed a net outflow of ¥36.31 million, worsening from a net inflow of ¥15.30 million in the previous year[22]. - The total assets at the end of the reporting period were ¥1.78 billion, slightly up from ¥1.77 billion at the end of the previous year[22]. - The weighted average return on net assets decreased to -7.92%, down from -5.12% in the previous year[22]. - The net profit for the reporting period was RMB -48.53 million, indicating a loss compared to the previous year[92]. Revenue Sources and Market Trends - The company reported that industrial gas products accounted for 40% of its main revenue, showing an increase compared to the same period last year[29]. - Low-temperature products contributed 34.7% to the company's main revenue, reflecting a slight growth year-on-year[32]. - The average annual sales growth rate of the fire protection market in China reached 10% over the past five years, with expectations of a future growth rate of 15%-20%[29]. - The natural gas consumption in China is projected to increase from 7.8% in 2018 to approximately 10% by 2020, driving demand for LNG storage and transportation[30]. - The LNG vehicle products saw a significant increase in market share due to the upgrade of automotive emission standards to National VI, with notable sales to domestic OEMs[48]. Operational Strategies and Development - The company plans to enhance its market expansion strategies and invest in new product development to improve future performance[22]. - The company continues to focus on cost control and operational efficiency to mitigate losses and improve financial health[22]. - The company is actively implementing a sales strategy combining agency and direct sales to maintain steady progress in the industrial gas sector[29]. - The company is focusing on expanding its hydrogen energy market share, particularly in high-pressure hydrogen storage cylinders for fuel cell vehicles[48]. - The company is committed to improving operational efficiency and internal management to support sustainable development[47]. - The company plans to enhance its core competitiveness through continuous technological research and innovation to mitigate market competition risks[83]. - The company aims to expand its product application areas and strengthen core technology development to minimize industry policy risks[84]. Asset Management and Liabilities - The company's asset-liability ratio increased to 54.21% at the end of the reporting period, up from 51.38% at the beginning of the period[85]. - Total liabilities amounted to RMB 964.25 million, with total assets at RMB 1,778.67 million, resulting in a debt-to-asset ratio of 54.21%[93]. - The company's long-term borrowings decreased by 50% to CNY 5.5 million, reflecting a reduction in tax liabilities[72]. - Short-term borrowings increased by 12.76% to RMB 313.46 million compared to the beginning of the year, while long-term borrowings decreased by 19.44% to RMB 5.5 million[86]. Corporate Governance and Compliance - The company has complied with the corporate governance code as per the stock exchange regulations during the reporting period[104]. - The board of directors and its committees have operated within their defined responsibilities, ensuring compliance and transparency[103]. - The company has ensured accurate, complete, and timely information disclosure throughout the reporting period[103]. - The company has maintained clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[103]. - The company has adhered to the relevant regulations regarding securities transactions by directors and supervisors[104]. Employee and Compensation Management - The company employed 1,624 staff members during the reporting period, with total employee compensation amounting to RMB 74.09 million[97][98]. - The company has implemented a diversified compensation system based on position performance to ensure internal and external equity in salary levels[99].

北 京 京 城 機 電 股 份 有 限 公 司 Beijing Jingcheng Machinery Electric Company Limited (a joint stock company incorporated in the People's Republic of China with limited liability) (在中華人民共和國註冊成立之股份有限公司) (H Share Stock Code H 股代號： 0187：A Share Stock Code A 股代號： 600860) 00氮站 力负责 Do 56 京市 | --- | --- | --- | --- | |-----------------------|---------|-------------------------------------------------------------------------------------------------------|----------| | | | | | | | | | | | | | | Contents | | | | | 目錄 | | Sect ...

2018 年第三季度报告 公司代码：600860 公司简称：京城股份 北京京城机电股份有限公司 2018 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 9 | 2018 年第三季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 1,852,060,941.80 1,925,062,021.12 -3.79 归属于上市公司 股东的净资产 544,542,271.37 588,375,286.55 -7.45 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减(%) 经营活动产生的 现金流量净额 59,676,750.40 -78,498,955.45 - 年初至报告期末 （1-9 月） 上年初至上年报告期末 （1-9 月） 比上年同期增减 （%） 营业收入 763,276,665.20 8 ...

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 474,972,512.03, a decrease of 11.35% compared to CNY 535,806,085.23 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was a loss of CNY 28,682,450.33, an improvement from a loss of CNY 44,049,991.70 in the previous year[20]. - The net cash flow from operating activities was CNY 27,405,511.86, a significant recovery from a negative cash flow of CNY 62,482,402.26 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 1,967,484,247.06, an increase of 2.20% from CNY 1,925,062,021.12 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 4.83% to CNY 559,974,735.81 from CNY 588,375,286.55 at the end of the previous year[20]. - The basic earnings per share for the first half of 2018 was -CNY 0.07, compared to -CNY 0.10 in the same period last year[21]. - The weighted average return on net assets improved to -5.12% from -8.46% in the previous year, an increase of 3.34 percentage points[21]. - The company achieved operating revenue of approximately 475 million RMB, a year-on-year decrease of 11.35%[36]. - The net profit attributable to shareholders was approximately -28.68 million RMB, representing a reduction in losses of about 15.37 million RMB[36]. Market and Industry Outlook - The company operates in the industrial gas sector, focusing on the production of various gas cylinders and low-temperature storage tanks, with a significant emphasis on LNG and CNG products[26]. - The industrial gas market in China is expected to maintain steady growth, with an average annual sales growth rate of 17% in the fire protection market over the past five years, projected to continue at 15%-20%[28]. - The company anticipates a rise in demand for LNG storage and transportation infrastructure due to increasing natural gas consumption, projected to reach 160 billion cubic meters in 2018[28]. - The hydrogen energy market is expected to enter a period of rapid growth, supported by government policies and significant investments from over 30 listed companies in the fuel cell vehicle sector[29]. - The company has identified opportunities in the LNG maritime transport market, driven by increasing demand for imported natural gas[28]. Operational Efficiency - The company’s production process requires continuous and stable operation due to the complexity of manufacturing gas cylinders[26]. - The company has established a complete sales network with over 30 distribution points in China and 8 overseas sales outlets, covering major markets[33]. - The company is actively developing new products, including four types of bottles categorized under clean and renewable energy, which are high-value products[40]. - The company reduced accounts receivable by approximately 72.04 million RMB and notes receivable by about 20.6 million RMB, totaling a reduction of approximately 92.64 million RMB[39]. - The company has obtained various manufacturing qualifications for pressure vessels, allowing it to produce over 800 types of products[32]. Financial Management - The company plans to optimize its funding management model and explore new financing tools to ensure operational funding[42]. - The company has implemented a performance assessment mechanism that aligns management compensation with company performance and shareholder value[39]. - The company has established a strict risk control system for investment and financing, aiming to maximize shareholder value while maintaining a stable capital structure[52]. - The company has committed to providing guarantees for debts owed by its subsidiaries, ensuring financial stability across its operations[70]. Compliance and Governance - The company has confirmed compliance with the corporate governance code during the reporting period[65]. - The company has adopted a set of standards for securities transactions by directors and supervisors, in compliance with the relevant regulations[65]. - The company has committed to ensuring that related party transactions are conducted on the basis of fairness and market price[68]. - The company guarantees that it and its controlled entities will not obtain any improper benefits through related party transactions[68]. Environmental and Social Responsibility - Environmental compliance was maintained with all wastewater and emissions meeting regulatory standards, including a total of 9.61 tons of chemical oxygen demand and 1,590 kg of nitrogen oxides[79]. - The company has implemented significant pollution control measures, including the installation of 66 new welding fume extraction heads, enhancing operational efficiency[79]. - The company has established emergency response plans for radiation safety and environmental pollution incidents[80]. - The company has complied with local environmental monitoring requirements and arranged for third-party monitoring as per ISO 14001:2015 standards[80]. Accounting and Reporting Standards - The company has adopted new accounting standards effective from January 1, 2018, impacting financial reporting[81]. - The adjustment of contract liabilities increased by CNY 45,878,250.70 due to the adoption of new accounting standards[82]. - Management expenses were adjusted to CNY 41,653,974.52 after accounting for the new standards, reflecting a decrease of CNY 5,830,781.93[82]. - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting its financial position and operating results accurately[136].

2018 年第一季度报告 公司代码：600860 公司简称：京城股份 北京京城机电股份有限公司 2018 年第一季度报告 1 / 18 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 2018 年第一季度报告 一、 重要提示 二、 公司基本情况 2.1 主要财务数据 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 1,935,148,969.16 1,925,062,021.12 0.52 归属于上市公司 股东的净资产 566,725,091.53 588,375,286.55 -3.68 年初至报告期末 上年初至上年报告期末 比上年同期增减(%) 经营活动产生的 现金流量净额 19,620,001.89 -39,191,315.10 不适用 年初至报告期末 上年初至上年报告期末 比上年同期增减（%） 营业收入 235,780,484.45 270,438,514.09 -12.82 归属于上市公司 股东的净利润 -21,650,195.02 -18,848,57 ...

Financial Performance - The net profit attributable to shareholders for 2017 was ¥20,868,364.01, with an undistributed profit at year-end of -¥567,793,525.60, leading to no profit distribution for the year[5]. - The company's operating revenue for 2017 was approximately ¥1.20 billion, representing a 35.30% increase compared to ¥889.53 million in 2016[22]. - The net profit attributable to shareholders was ¥20.87 million in 2017, a significant recovery from a loss of ¥148.79 million in 2016[22]. - The basic earnings per share for 2017 was ¥0.05, compared to a loss of ¥0.35 per share in 2016[23]. - The weighted average return on equity improved to 3.61% in 2017 from -23.31% in 2016[23]. - The total assets at the end of 2017 were approximately ¥1.93 billion, a 4.06% increase from ¥1.85 billion at the end of 2016[22]. - The net cash flow from operating activities was negative at -¥226.66 million in 2017, worsening from -¥13.04 million in 2016[22]. - The company reported non-recurring gains of ¥81.64 million in 2017, compared to ¥16.09 million in 2016[27]. - The company's total revenue for 2017 was RMB 1,203,496,955.02, representing a 35.30% increase compared to RMB 889,525,250.25 in the previous year[65]. - The company achieved operating revenue of RMB 1.204 billion, a year-on-year increase of 35.52%, and a total profit of RMB 23.51 million, marking a turnaround in its main business[55]. - The company reported a profit of ¥60,327,941.31 from the sale of a subsidiary, which significantly impacted non-operating income[82]. - The company’s total profit increased by 210.65 million yuan, with operating revenue rising by 35.30% and operating profit increasing by 202.97 million yuan compared to the previous year[101]. Risks and Compliance - The company faces a risk of suspension from trading if the audited net profit continues to be negative in 2017, as per the Shanghai Stock Exchange regulations[7]. - The report includes a forward-looking statement risk declaration, indicating uncertainties in future plans[6]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[7]. - The company has not violated any decision-making procedures in providing guarantees to external parties[7]. - The company faces significant competition in the gas storage and transportation industry, with over 60 LNG cylinder manufacturers and a production capacity nearing 400,000 units, leading to severe overcapacity[99]. - The company faced a risk of delisting as it recorded negative net profits for two consecutive years (2015 and 2016), leading to a warning on its stock since March 21, 2017[145]. - The company has committed to ensuring that transactions with related parties are conducted fairly and transparently, adhering to market principles and legal regulations[138]. - The company strictly adhered to legal and regulatory requirements during the reporting period[129]. Corporate Governance - The board of directors and management have confirmed the accuracy and completeness of the annual report, assuming legal responsibility for any misrepresentation[8]. - The company has appointed Da Hua Accounting Firm for internal control audit, replacing the previous firm, which was approved by the board and shareholders[145]. - The company has adhered to the corporate governance code and the securities listing rules throughout the reporting period[160]. - The company has not reported any major litigation or arbitration matters during the reporting period[148]. - The company has a structured decision-making process for remuneration, involving the board's compensation and assessment committee[185]. - The company respects and protects the rights of all shareholders, particularly minority shareholders, ensuring transparency in major decisions[194]. Market and Product Development - The company is focused on expanding its market presence both domestically and internationally, with exports to countries such as Europe, Brazil, and India[31]. - The company has established partnerships with major automotive manufacturers, providing solutions for LNG and CNG fuel storage[30][31]. - The company has developed over 800 types of pressure vessels and related products, with qualifications for various pressure vessel designs and manufacturing[50]. - The company is focusing on high-value-added products and plans to optimize resource structure while clearing inefficient assets[58]. - The company aims to enhance its hydrogen system market by integrating gas, cylinders, and stations into a unified industrial chain[62]. - The company has made significant progress in hydrogen energy research and development, achieving multiple breakthroughs in new product development[56]. - The company is actively managing foreign exchange risks due to its limited foreign currency deposits and exposure to USD transactions[105]. Human Resources and Employee Welfare - The company has implemented a strategic human resource management system to enhance talent selection and organizational efficiency[57]. - The total number of employees in the parent company is 14, while the main subsidiaries employ 1,595, resulting in a total of 1,609 employees[188]. - The company completed 169 training sessions in 2017, involving 2,058 participants, with an average of 20.07 training hours per person[190]. - The company has implemented a diversified compensation system based on job performance, enhancing employee motivation[189]. - The company has organized multiple employee representative meetings to report on economic operations and revise employee management rules, ensuring employee rights are upheld[163]. - The company has established a "Mommy Room" for breastfeeding employees, equipped with necessary facilities to support female staff[164]. Shareholder Information - The largest shareholder, Beijing Jingcheng Electromechanical Holding Co., Ltd., holds 182,735,052 shares, representing 43.30% of the total shares[171]. - HKSCC NOMINEES LIMITED holds 99,231,200 shares, accounting for 23.51% of the total shares, with an increase of 14,000 shares during the reporting period[171]. - The company does not have any other significant shareholders with over 10% ownership, and there are no known relationships among the top shareholders[172]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 387.19 million CNY, with the highest individual compensation being 59.88 million CNY for the chairman[178]. Strategic Initiatives - The company plans to expand its natural gas market by developing large-diameter LNG cylinders as a key product and profit driver[59]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of 500 million RMB allocated for potential deals[182]. - The company has entered into a technology transfer agreement with Corinick for the design and manufacturing technology of low-temperature storage tanks, valued at RMB 20,000,000, to enhance product quality and competitiveness[154]. - The company has established a framework contract with Tianjin Steel Pipe for the purchase of gas cylinder pipes, with a maximum procurement amount of RMB 300 million for Tianjin Tianhai and RMB 200 million for Kuancheng Tianhai over three years[156].

Financial Performance - Operating revenue for the first nine months was CNY 848,367,431.30, an increase of 20.96% year-on-year[8] - Net profit attributable to shareholders for the first nine months was CNY -75,922,899.89, improving from CNY -103,998,142.80 in the same period last year[8] - Basic and diluted earnings per share were both CNY -0.16, compared to CNY -0.22 in the previous year[9] - Total operating revenue for Q3 2023 reached ¥312,561,346.07, a 44.5% increase from ¥216,298,821.39 in Q3 2022[31] - Net profit for Q3 2023 was a loss of ¥34,559,753.28, compared to a loss of ¥41,747,125.91 in Q3 2022, showing an improvement of 17.5%[32] - The company reported a total profit loss of ¥33,407,303.21 for Q3 2023, an improvement from a loss of ¥41,191,154.91 in Q3 2022[32] - Basic earnings per share for Q3 2023 were -0.06, compared to -0.07 in Q3 2022[33] - Operating profit for Q3 2023 was ¥8,020,577.65, an increase from ¥7,381,529.61 in Q3 2022[35] - The company achieved a total comprehensive loss of ¥33,579,443.91 in Q3 2023, compared to a loss of ¥44,559,797.42 in Q3 2022[33] Cash Flow and Liquidity - Net cash flow from operating activities for the first nine months was CNY -78,498,955.45, a decrease of 330.45% compared to the same period last year[8] - The company received cash related to operating activities amounting to ¥27,605,558.45, a 51.50% increase year-on-year[18] - Operating cash inflow for the first nine months of 2017 was ¥672,816,029.01, compared to ¥558,819,747.25 in the previous year, reflecting a growth of approximately 20.3%[38] - The net cash flow from operating activities for the first nine months of 2017 was -¥78,498,955.45, a decline from a positive net cash flow of ¥34,063,872.50 in the same period last year[39] - Cash and cash equivalents at the end of Q3 2017 stood at ¥43,500,295.19, down from ¥126,624,320.47 at the end of the previous year[39] - The company received cash from borrowings amounting to ¥231,968,599.92 in the first nine months of 2017, compared to ¥140,000,000.00 in the same period last year[39] - The net cash flow from financing activities was ¥42,116,871.56, a significant improvement from -¥51,751,636.68 in the previous year[39] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,843,216,477.28, a decrease of 0.36% compared to the end of the previous year[8] - The company's cash and cash equivalents decreased to CNY 59,748,955.19 from CNY 118,829,271.77, a decline of about 49.7%[23] - Current liabilities increased to CNY 814,221,493.10 from CNY 739,830,470.93, reflecting a growth of approximately 10.5%[24] - The total liabilities reached CNY 954,229,776.88, compared to CNY 878,023,579.43 at the beginning of the year, marking an increase of approximately 8.7%[24] - The company's equity attributable to shareholders decreased to CNY 496,242,353.97 from CNY 565,197,855.29, a decline of about 12.2%[25] - The company’s total liabilities decreased significantly, with accounts payable dropping by 89.31% to ¥3,207,783.36, as no new bills were issued during the period[17] Investments and Expenses - The company reported non-recurring gains of CNY 4,171,719.52 for the first nine months[12] - Financial expenses increased by 65.27% to ¥16,930,825.73, primarily due to increased exchange rate losses[18] - The company’s investment income decreased by 145.23% to -¥2,322,702.26, mainly due to reduced profits from joint ventures[18] - The company’s tax expenses rose by 147.04% to ¥9,165,992.63, due to the inclusion of property taxes and related fees[18] - Management expenses for Q3 2023 were ¥1,320,787.97, up from ¥1,093,349.99 in Q3 2022[35] - Tax expenses for Q3 2023 amounted to ¥1,152,450.07, compared to ¥555,971.00 in Q3 2022[32] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,348[14] - The largest shareholder, Beijing Jingcheng Machinery Holdings Co., Ltd., held 43.30% of the shares[14] Operational Developments - The company has not disclosed any new product or technology developments in this report[8] - There were no significant mergers or acquisitions reported during the quarter[8]