Acquisition and Strategic Initiatives - The company is implementing a project to acquire 80% of Qingdao Beiyang Tianqing Intelligent Co., Ltd. to enhance its operational and profitability capabilities[10]. - The company has received regulatory feedback regarding its asset acquisition and fundraising plans, which are still pending approval from the China Securities Regulatory Commission[10]. - The company has initiated a strategic acquisition of Qingdao Beiyang Tianqing Intelligent Co., aiming to enhance its technological capabilities[41]. - The acquisition of Qingdao Beiyang Tianqing Intelligent Co., Ltd. is a strategic move to support the company's transformation and upgrade in high-end equipment manufacturing[85]. - The company is implementing a project to acquire 80% equity in Qingdao Beiyang Tianqing Data Intelligence Co., Ltd. to enhance its ongoing operations and profitability[95]. Financial Performance - The company reported a revenue of RMB 1.5 billion for the first half of 2021, representing a year-on-year increase of 15%[41]. - The net profit attributable to shareholders for the same period was RMB 300 million, up 20% compared to the previous year[41]. - Operating revenue for the first half of 2021 was CNY 526,554,520.75, a slight increase of 0.52% compared to CNY 523,831,648.77 in the same period last year[49]. - The company reported a net cash outflow of RMB 4,204.82 million from operating activities during the reporting period, with cash inflows of RMB 45,197.83 million and cash outflows of RMB 49,402.65 million[109]. - The company experienced a net cash outflow of RMB 3,312.39 million from investment activities, with cash inflows of RMB 80.36 million and cash outflows of RMB 3,392.75 million[110]. - The company's asset-liability ratio decreased to 36.86% at the end of the reporting period from 41.27% at the beginning[105]. - The total liabilities amounted to RMB 584.18 million, with total assets of RMB 1,584.85 million, resulting in a debt-to-asset ratio of 36.86%[114]. - The total equity was RMB 1,000.67 million, with minority interests accounting for RMB 302.80 million, representing 19.11% of total assets[115]. Operational Challenges - The company has faced risks related to ongoing litigation involving its subsidiary, which may impact future profits, although the final judgment is still pending[11]. - The COVID-19 pandemic has increased operational costs and market instability, posing significant challenges to the company's business operations[12]. - The company is actively working on improving its pandemic prevention mechanisms to mitigate potential adverse effects on production and operations[12]. - The company faces risks from industry policy changes affecting the natural gas storage and transportation sector, as well as the hydrogen energy storage sector[98]. - The company aims to enhance its independent innovation capabilities and strengthen its market awareness to address intensified market competition risks[99]. Research and Development - The company is investing RMB 200 million in R&D for new technologies in the next fiscal year[41]. - Research and development expenses increased by 9.30% year-on-year to RMB 10,015,871.43, indicating a rise in investment in R&D[87]. - The company is focusing on innovation-driven development, particularly in hydrogen-related products, to meet market demands[84]. Environmental Compliance - The total wastewater discharge in 2021 was 68,625 tons, with all pollutants meeting the discharge standards[141]. - The average discharge concentrations for key pollutants in 2021 were within the limits set by local regulations, including COD at 70.5 mg/L and ammonia nitrogen at 11.05 mg/L[139]. - The company’s environmental compliance was confirmed through third-party testing, with all wastewater samples meeting the required standards[138]. - The company continues to focus on environmental responsibility, ensuring that all wastewater is treated before discharge[138]. - The company has implemented effective pollution control measures, including dry filters and activated carbon adsorption for volatile organic compounds[155]. Employee Management and Training - Employee compensation for the reporting period was RMB 77.84 million, with a total workforce of 1,323 employees[119]. - A total of 12,580 training hours were completed in the first half of 2021, involving 2,773 participants, averaging 10.1 hours of training per employee[122]. - The company has implemented a diversified compensation system based on position performance, ensuring internal and external equity in salary levels[121]. - The company has implemented a new employee compensation management system, emphasizing performance and capability evaluation to enhance employee motivation[77]. Market Expansion and Product Development - User data showed an increase in active users by 10% to 2 million during the reporting period[41]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% growth in that region by the end of 2022[41]. - New product development includes the launch of a smart gas cylinder, expected to contribute an additional RMB 100 million in revenue in 2022[41]. - The company launched a new generation of vehicle-mounted hydrogen storage bottles (IV type) with various specifications, achieving compliance with national and international standards[75]. Risk Management - The company has strengthened its risk management framework, embedding compliance and risk control into its operational processes[86]. - The company is actively communicating with shipping companies to mitigate risks associated with rising international shipping costs, which currently account for over 50% of its export business[103]. - The company maintains a prudent financial policy and strict risk control system to ensure a stable capital structure and good financing channels[104].

Financial Performance - The net profit attributable to shareholders for the reporting period was RMB 156,431,757.57, while the undistributed profit at the end of the year was RMB -664,051,428.89, leading to no profit distribution for 2020[10] - The company reported a revenue of RMB 1.2 billion for the fiscal year 2020, representing a year-over-year increase of 15%[29] - The net profit attributable to shareholders was RMB 150 million, an increase of 20% compared to the previous year[29] - Operating income for 2020 was RMB 1,088,296,501.51, a decrease of 8.99% compared to RMB 1,195,847,102.19 in 2019[46] - Net profit attributable to shareholders of the listed company for 2020 was RMB 156,431,757.57, a significant recovery from a loss of RMB 130,036,755.55 in 2019[46] - The company reported a net profit of RMB -127,558,167.27 after extraordinary items, showing a slight improvement from RMB -135,372,524.72 in the previous year[46] - Basic earnings per share for 2020 was RMB 0.34, a significant improvement from -0.31 in 2019[50] - The return on net assets on a weighted average basis increased by 62.49 percentage points to 30.13% in 2020, compared to -32.36% in 2019[50] - The net cash flows generated from operating activities in 2020 were RMB 14,456,622.77, showing a recovery from -88,301,937.32 in the previous year[55] - The company achieved operating income of approximately RMB1.088 billion, representing a decrease of approximately 9% compared to the previous year[154] - Net profits attributable to shareholders were approximately RMB156.43 million during the reporting period[154] Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by 2023[29] - The company aims for a revenue growth target of 10% for the upcoming fiscal year, projecting total revenue of RMB 1.32 billion[29] - The company aims to enhance its market expansion strategies and product development in the upcoming fiscal year[46] - The company plans to enhance its market expansion strategy for new products such as natural gas and hydrogen energy, while increasing brand promotion and corporate awareness[183] - The company aims to stabilize its current market scale while targeting future markets through innovative business models and differentiated competitive strategies[184] Research and Development - The company has allocated RMB 100 million for research and development in new technologies related to LNG and CNG production[29] - New product development includes the launch of a Type IV cylinder, expected to generate an additional RMB 200 million in revenue in 2021[29] - The company is focusing on technological advancements and new product launches to drive future growth[46] - The company is committed to reducing production costs through technical optimization and improving communication between market and technical personnel to address customer challenges[193] - The company is accelerating technological innovation in hydrogen energy, enhancing R&D capabilities, and optimizing the training and recruitment of technical talent to strengthen its core competitiveness[196] Acquisitions and Investments - The company is in the process of acquiring 80% of BYTQ shares, with resolutions approved by the Board on multiple occasions throughout 2020 and early 2021, pending approval from the CSRC[10] - A merger and acquisition strategy is in place to acquire a 60% stake in Qingdao BYTQ United Digital Intelligence Co., Ltd., with an investment of RMB 300 million[29] - The Company initiated a merger and acquisition project of BYTQ to inject high-quality assets and enhance its high-end equipment manufacturing capabilities[172] - The company is actively pursuing mergers and acquisitions, specifically the acquisition of Beiyang Tianqing, to enhance its high-end equipment manufacturing capabilities[176] Operational Efficiency - The company reported a gross margin of 35%, indicating improved operational efficiency compared to the previous year[29] - The company is focusing on cost reduction and efficiency improvement by optimizing its organizational structure and implementing dynamic management of costs and expenses[176] - The company emphasizes continuous stable production due to the complex manufacturing processes involved in steel cylinder production[119] - The company is promoting intelligent manufacturing and informatization construction to improve production efficiency and output value per capita, addressing the low level of automation in existing production lines[199] COVID-19 Impact and Response - The company established a comprehensive epidemic prevention and control mechanism to minimize the impact of the COVID-19 pandemic, achieving full resumption of work and production at the beginning of 2020[12] - The company reported that some of its export products may be affected by the global economic impact of the COVID-19 pandemic[11] - The company will continue to monitor the development of the pandemic and take effective measures to mitigate adverse impacts on production and operations[12] - The company is actively responding to pandemic prevention and control regulations, implementing measures to maintain business operations and support supply guarantees[200] Product and Service Offerings - The company’s main products include LNG and CNG cylinders, which are critical for the growing natural gas vehicle market[64] - The company produces seamless steel gas cylinders with a nominal working pressure of 8-35 Mpa and a volume range of 0.4-145 liters, catering to diverse industries such as chemical, medical, and energy[78] - The company provides low-cost vehicle LNG solutions through comprehensive integration of technology for LNG filling stations and vehicle manufacturers[69] - The company has established itself as a designated cylinder supplier for major automobile manufacturers, including Zhengzhou Yutong and Dongfeng Automobile[75] - The company’s aluminum liner carbon fiber cylinders are designed for high pressure (35MPa) and are customized based on customer needs, showcasing good safety performance and heat resistance[112] Certifications and Quality Assurance - The company has obtained multiple international quality management certifications for its CNG cylinders, including ISO9001:2015 and ISO/TS16949:2009, enhancing its market credibility[75] - The plate-type asbestos-free acetylene cylinders developed by the company meet world-leading standards and have been certified by DOT-8AL in the US and TC-8WAM in Canada, with sales in Europe, the US, and Southeast Asia[86] - The company’s welded insulated cylinders are designed for storing liquefied air products and have received multiple certifications including DOT-4L and ASME, ensuring high safety and reliability[91] - The company offers cryogenic tanks with volumes ranging from 3 to 350 cubic meters for storing low-temperature liquids, designed according to various international standards[96] Asset Management - The company transferred the Wu Fang Qiao Assets, including 87,541.76 sq.m. of industrial land and 45,143.62 sq.m. of buildings, for a total price of RMB 410,195,500[131] - The company’s asset transfer was part of a strategic move to optimize its asset portfolio and enhance operational efficiency[131] - The registered capital of Beijing Tianhai increased from USD 61.40 million to USD 90.72 million following the capital increase[132] - The registered overseas assets amounted to 0, representing 0% of the total assets[132]

顶樓電股份 IENG 北 京 京 城 機 電 股 份 有 限 公 司 Beijing Jingcheng Machinery Electric Company Limited (在中華人民共和國註冊成立之慶份有限公司) ( H股代號: 0187; A 股代號: 600860) BIBTCE 中期報告 2020 重要提示 一、 本公司董事會、監事會及董事、監事、高級管理人員保證半年度報告內容的真實、準確、完整，不存在虛假記載、誤導性 陳述或重大遺漏，並承擔個別和連帶的法律責任。 二、 公司全體董事出席董事會會議。 三、 本半年度報告未經審計。 四、 公司負責人王軍、主管會計工作負責人姜馳及會計機構負責人（會計主管人員）王艷東聲明：保證半年度報告中財務報告的 真實、準確、完整。 五、 經董事會審議的報告期利潤分配預案或公積金轉增股本預案 無 六、 前瞻性陳述的風險聲明 √ 適用 □ 不適用 本半年度報告內容中涉及未來計劃等前瞻性陳述因存在不確定性，不構成公司對投資者的實質承諾，請投資者注意投資風 險。 七、 是否存在被控股股東及其關聯方非經營性佔用資金情況 否 八、 是否存在違反規定決策程序對外提供擔保的情況？ ...

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 ...