Financial Performance - Operating revenue fell by 27.65% to CNY 395,095,544.56, down from CNY 546,108,268.84 in the same period last year[5]. - Net profit attributable to shareholders was CNY -72,794,530.42, a significant decline from CNY -61,241.07 year-on-year[5]. - Basic and diluted earnings per share were both CNY -0.09, compared to CNY 0.005 in the previous year, representing a decrease of 1,900%[5]. - The company reported a net loss of CNY -53,842,071.17, a decline of 3,631.98% compared to a net profit of CNY 1,524,415.86 in the previous year, largely due to the impact of the pandemic on operating income[13]. - The company's net loss for Q1 2020 was CNY 55,093,728.35, compared to a profit of CNY 1,080,000.00 in Q1 2019[25]. - The total profit for Q1 2020 was a loss of CNY 56.03 million, compared to a profit of CNY 4.80 million in Q1 2019[26]. - The company's operating profit for Q1 2020 was a loss of CNY 55.53 million, compared to a profit of CNY 3.74 million in Q1 2019[26]. - The total comprehensive income for Q1 2020 was a loss of CNY 53.84 million, compared to a profit of CNY 1.52 million in Q1 2019[26]. Cash Flow - Cash flow from operating activities showed a net outflow of CNY -98,659,911.06, worsening from CNY -60,343,613.50 in the same period last year[5]. - The net cash flow from operating activities for the current year is -98,659,911.06 RMB, a decrease of 38,316,297.56 RMB compared to the same period last year, primarily due to a reduction in cash received from sales of goods and services[14]. - The net cash flow from investing activities improved by 14,060,577.45 RMB, totaling -12,686,287.00 RMB, mainly due to increased cash received from the disposal of subsidiaries[14]. - The net cash flow from financing activities decreased by 4,926,175.90 RMB, amounting to 62,206,489.74 RMB, attributed to the impact of financing leases from the previous year[14]. - The net cash flow from operating activities for Q1 2020 was -98,659,911.06 RMB, compared to -60,343,613.50 RMB in Q1 2019, indicating a decline of approximately 63.5% year-over-year[31]. - The total cash inflow from financing activities was 682,760,000.00 RMB, an increase of 24.2% from 549,500,000.00 RMB in the previous year[32]. - The net cash flow from investing activities was -12,686,287.00 RMB, showing an improvement from -26,746,864.45 RMB in Q1 2019[31]. Assets and Liabilities - Total assets decreased by 0.83% to CNY 5,522,366,531.01 compared to the end of the previous year[5]. - The company's cash and cash equivalents decreased by 32.47% to CNY 102,211,481.46, primarily due to payments for due bills[12]. - Other non-current assets increased by 130.63% to CNY 27,205,431.14, mainly due to increased payments for related project costs[12]. - Current liabilities total 2,512,916,591.88 RMB, down from 2,607,873,025.55 RMB in the previous year[20]. - Non-current liabilities increased to 927,411,381.41 RMB from 826,496,835.06 RMB year-on-year[20]. - The total equity attributable to shareholders decreased to 2,052,723,829.93 RMB from 2,104,452,464.43 RMB[20]. - Total liabilities increased to CNY 3,147,214,594.17 from CNY 3,083,891,144.65, reflecting a rise of 2.1%[23]. - The company's equity decreased to CNY 2,060,787,631.29 from CNY 2,089,314,673.06, a decline of 1.4%[23]. Shareholder Information - The number of shareholders reached 41,311 by the end of the reporting period[9]. - The company has a total of CNY 548,723,235.74 in advance receipts, reflecting strong customer demand[38]. Other Financial Metrics - The company incurred credit impairment losses of CNY 7.36 million in Q1 2020, compared to CNY 3.52 million in Q1 2019, indicating an increase in credit risk[27]. - The company's financial expenses for Q1 2020 were CNY 25.64 million, slightly up from CNY 25.40 million in Q1 2019[27]. - The company reported other income of CNY 19.81 million in Q1 2020, a significant increase from CNY 2.36 million in Q1 2019[27]. - The cash outflow for employee payments increased to 71,588,714.86 RMB from 68,870,682.06 RMB, marking a rise of about 2.5% year-over-year[31]. - The company incurred 12,117,277.84 RMB in taxes paid, a decrease from 16,572,348.12 RMB in Q1 2019, indicating a reduction of approximately 27.5%[31].

Financial Performance - Operating revenue for the first nine months was CNY 1,086,197,347.40, representing a year-on-year increase of 4.20%[6] - Net profit attributable to shareholders was a loss of CNY 84,939,097.78, an improvement from a loss of CNY 129,066,484.92 in the same period last year[6] - The weighted average return on net assets was -4.15%, improving from -6.11% in the previous year[6] - Basic earnings per share were -CNY 0.14, compared to -CNY 0.21 in the same period last year[6] - Total operating revenue for Q3 2019 was CNY 285,480,641.86, a decrease of 6.9% compared to CNY 305,987,944.05 in Q3 2018[24] - Net profit attributable to shareholders for Q3 2019 was CNY 115,724,711.98, a decrease of 35.4% compared to CNY 179,117,811.15 in Q3 2018[22] - Q3 2019 net profit was a loss of CNY 23,769,836.35, compared to a loss of CNY 42,881,003.59 in Q3 2018, showing an improvement of 44.5%[26] - Total comprehensive loss for Q3 2019 was CNY 23,769,836.35, compared to a loss of CNY 42,881,003.59 in the same period last year[28] - The net profit for Q3 2019 was -20,498,006.44 RMB, a decrease from -27,912,985.49 RMB in the same period of 2018, indicating an improvement of approximately 26.5% year-over-year[30] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,621,791,758.23, a decrease of 0.10% compared to the end of the previous year[6] - The total liabilities increased to ¥3,588,514,760 from ¥3,511,134,701, reflecting changes in both current and non-current liabilities[18] - Total assets as of September 30, 2019, amounted to CNY 5,244,029,209.82, an increase from CNY 5,206,195,382.25 at the end of 2018[22] - Total liabilities as of September 30, 2019, were CNY 3,365,208,969.32, compared to CNY 3,264,147,427.90 at the end of 2018[22] - The company’s long-term investments rose to CNY 1,826,905,455.72 from CNY 656,333,566.00 year-over-year[21] - Total current liabilities included accounts payable of CNY 299,365,032.31 and other payables of CNY 221,534,974.34[41] Cash Flow - The company reported a net cash flow from operating activities of -CNY 8,171,083.76 for the first nine months[6] - Net cash flow from operating activities improved by ¥85,228,092, reaching -¥8,171,083 compared to -¥93,399,175 in the previous year, mainly due to adjustments in winter natural gas sales prices[13] - The net cash flow from operating activities for Q3 2019 was -8,171,083.76 RMB, an improvement from -93,399,175.98 RMB in Q3 2018[33] - The cash inflow from operating activities for the first nine months of 2019 totaled 1,166,235,483.76 RMB, compared to 1,105,550,224.60 RMB in the same period of 2018, reflecting a growth of about 5.5%[33] - The company’s cash inflow from operating activities totaled CNY 896,538,329.93 for the first three quarters of 2019, compared to CNY 821,468,067.15 in the same period of 2018[34] Shareholder Information - The total number of shareholders at the end of the reporting period was 44,337[9] - The largest shareholder, Changchun Changgang Gas Co., Ltd., held 58.75% of the shares[9] - The company’s equity attributable to shareholders was CNY 1,878,820,240.50 as of September 30, 2019, down from CNY 1,942,047,954.35 at the end of 2018[22] - The total equity attributable to minority shareholders was CNY 29,219,325.25, indicating a diverse ownership structure[38] Expenses - Financial expenses rose by 43.81% to ¥81,163,110 from ¥56,435,800, primarily due to increased loan interest expenses[12] - R&D expenses in Q3 2019 were CNY 1,281,347.76, significantly lower than CNY 7,834,835.35 in Q3 2018[29] - Sales expenses in Q3 2019 were CNY 59,032,686.96, down from CNY 69,031,361.03 in Q3 2018[29] - Management expenses in Q3 2019 were CNY 14,636,427.70, a decrease from CNY 16,235,732.01 in Q3 2018[29]

Financial Performance - The company's operating revenue for the first half of 2019 was approximately CNY 800.72 million, an increase of 8.73% compared to CNY 736.42 million in the same period last year[15]. - The net profit attributable to shareholders for the first half of 2019 was a loss of CNY 62.42 million, improving from a loss of CNY 86.36 million in the same period last year[15]. - The basic earnings per share for the first half of 2019 was -CNY 0.10, compared to -CNY 0.14 in the same period last year[15]. - The weighted average return on net assets increased by 1.00 percentage points to -3.04% from -4.04% in the same period last year[15]. - The net cash flow from operating activities was -CNY 76.67 million, a decrease in loss compared to -CNY 71.65 million in the same period last year, representing a 7.01% increase in loss[15]. - The total assets at the end of the reporting period were approximately CNY 5.56 billion, a decrease of 1.27% from CNY 5.63 billion at the end of the previous year[15]. - The net assets attributable to shareholders at the end of the reporting period were approximately CNY 2.03 billion, down 2.86% from CNY 2.09 billion at the end of the previous year[15]. - The actual gas sales volume for the first half of 2019 was 220 million cubic meters, a decrease of 5.8 million cubic meters or 2.56% compared to the previous year[25]. - The company achieved a sales revenue of 800 million RMB, an increase of 8.73% year-on-year, with gas sales revenue reaching 688 million RMB, up 10.13%[25]. - Operating costs amounted to 577 million RMB, an increase of 5.91% year-on-year, with natural gas operating costs rising by 10.44% to 512 million RMB[25]. - The investment income from the company's main joint venture, Changchun Natural Gas Co., Ltd., decreased by 84.72% compared to the previous year[25]. - The company reported a net cash flow from operating activities of -76.67 million RMB, a deterioration of 7.01% compared to the previous year[29]. - The company reported a net loss for the first half of 2019 of CNY 62,287,539.26, compared to a net loss of CNY 87,058,603.12 in the same period of 2018, showing an improvement of approximately 28.5%[76]. - The company reported a comprehensive income loss of CNY 62,419,120.27 for the first half of 2019[88]. Market Position and Operations - The company operates in urban pipeline gas business, municipal engineering construction, vehicle gas business, and clean energy development[20]. - The company has a total of 8 cities and 1 national-level development zone engaged in pipeline gas business, indicating a relatively monopolistic market position[20]. - The company has established a complete industrial chain for municipal engineering projects, including design, construction, supervision, and project management[20]. - The company is focusing on clean energy projects, including natural gas for residential heating and cooling, and plans to invest in comprehensive energy utilization projects[21]. - The market for vehicle gas is expected to grow significantly, particularly for LNG-powered logistics vehicles, due to increasing urbanization and environmental concerns[22]. Assets and Liabilities - The company's cash and cash equivalents decreased by 37.42% to 124.82 million RMB, primarily due to the repayment of due bills[32]. - The prepayments for natural gas purchases decreased by 59.78% to 53.91 million RMB[32]. - The total assets of Changchun Gas (Dehui) Development Co., Ltd. are approximately ¥139.5 million, with a net profit of ¥651,207.43[37]. - Changchun Gas (Yanjing) Co., Ltd. reported total assets of ¥211.6 million and a net loss of ¥362,765.23[37]. - The net profit of Jilin Peak Natural Gas Co., Ltd. was a loss of ¥7,934,327.83, with total assets of ¥28.2 million[39]. - The total revenue for Changchun Gas (Longshan Protection Development Zone) Co., Ltd. was ¥21.2 million, with a net loss of ¥1,411,589.10[39]. - The company reported a cash balance of RMB 124,821,293.39 as of June 30, 2019, down from RMB 199,459,662.99 at the end of 2018[67]. - Total current assets amounted to RMB 793,764,037.39, a decrease from RMB 896,967,387.75 in the previous period[67]. - The inventory value as of June 30, 2019, was RMB 433,112,935.10, slightly up from RMB 419,977,844.62 at the end of 2018[67]. - The accounts receivable stood at RMB 91,938,182.33, compared to RMB 93,454,530.11 in the previous period[67]. - The company's total liabilities reached CNY 3,499,442,695.92, a slight decrease from CNY 3,511,134,701.98[69]. - Shareholders' equity totaled CNY 2,056,866,159.49, down from CNY 2,116,506,879.89, indicating a decline in net worth[69]. - The company reported a decrease in undistributed profits to CNY 267,358,175.11 from CNY 329,777,295.38, reflecting lower retained earnings[69]. Shareholder Information - The largest shareholder, Changchun Changgang Gas Co., Ltd., holds 58.75% of the shares, totaling 357,810,876 shares[57]. - The company has 79,410,876 restricted shares, which will become tradable after a lock-up period of 36 months starting from July 12, 2020[59]. - The company has not proposed any profit distribution or capital reserve transfer plans for the half-year period[43]. - The company’s controlling shareholder, Changchun Changgang Gas Co., Ltd., committed not to transfer or sell 79.41 million shares subscribed during the non-public offering until July 2020[44]. Corporate Governance and Compliance - There were no major lawsuits or arbitration matters during the reporting period[45]. - The company has not disclosed any major related party transactions during the reporting period[46]. - The company completed the election of its board and supervisory committee, with changes in independent directors[62]. - The company has not reported any major changes in accounting policies or estimates that would significantly impact total assets, liabilities, or net profit[52]. - There were no significant changes in the total number of shares or the capital structure during the reporting period[54]. Social Responsibility and Community Engagement - The company has 32 registered impoverished households remaining, down from 33, with 96 individuals affected[48]. - The company has implemented a targeted poverty alleviation plan, actively engaging with impoverished households to understand their needs[49]. - The company has committed to providing technical support to impoverished households engaged in livestock farming[50]. - The company plans to strengthen the construction of the village party organization and enhance the ideological support for impoverished households[50]. - The photovoltaic power generation project has been completed and is expected to have an investment of 1 million yuan in the second half of the year[48]. Accounting Policies and Financial Reporting - The financial statements are prepared based on the assumption of going concern, indicating a history of profitable operations and sufficient financial resources for at least the next 12 months[104]. - The accounting policies include provisions for bad debts, inventory measurement, and depreciation methods for fixed assets[105]. - The company recognizes revenue based on actual production and sales activities, ensuring accurate financial reporting[105]. - The company has established a normal operating cycle of 12 months for liquidity classification of assets and liabilities[109]. - The company’s accounting currency is Renminbi (RMB)[110]. - The company includes all controlled subsidiaries in its consolidated financial statements, ensuring comprehensive financial reporting[112]. Financial Instruments and Risk Management - The company assesses expected credit losses for financial assets measured at amortized cost and recognizes loss provisions accordingly[125]. - Financial instruments are initially recognized at fair value, with transaction costs included in the initial measurement for certain categories[120]. - The company evaluates credit risk for financial instruments at each reporting date to determine if significant increases in credit risk have occurred[126]. - The company applies different accounting treatments for expected credit losses based on the stage of credit risk of the financial instruments[126]. - The company measures expected credit losses for accounts receivable based on the entire expected credit loss over the entire duration[128]. Investment and Asset Management - Long-term equity investments are primarily in subsidiaries and joint ventures, with significant influence assessed based on ownership of 20% or more of voting rights[137]. - The company uses the cost method for accounting for investments in subsidiaries and the equity method for joint ventures[137]. - The company recognizes expected credit losses for other receivables similarly to accounts receivable, based on the entire expected credit loss over the duration[130]. - The group conducts impairment tests on long-term assets, including fixed assets and intangible assets, at each balance sheet date, recognizing impairment losses when the carrying amount exceeds recoverable amount[150].

Financial Performance - In 2018, the company's operating revenue was CNY 1,568,483,156.13, an increase of 7.22% compared to CNY 1,462,821,920.06 in 2017[19] - The net profit attributable to shareholders was a loss of CNY 70,001,183.44, a decrease of 224.09% from a profit of CNY 56,413,091.08 in 2017[19] - The cash flow from operating activities was CNY 8,816,534.93, down 60.19% from CNY 22,146,837.80 in the previous year[19] - The basic earnings per share for 2018 was -CNY 0.11, a decrease of 210.00% from CNY 0.10 in 2017[20] - The weighted average return on equity was -3.28%, a decrease of 6.18 percentage points from 2.90% in 2017[20] - The company reported a significant impact on profits due to rising upstream natural gas procurement prices, particularly during the winter of 2017-2018[21] - The company achieved a gas sales volume of 427 million cubic meters in 2018, an increase of 30 million cubic meters, or 7.81% year-on-year[41] - Total sales revenue for the year reached 1.568 billion RMB, a growth of 7.22% compared to the previous year, with gas sales revenue contributing 1.21 billion RMB, up 16.78%[41] - The company's operating costs rose to 1.088 billion RMB, an increase of 23.57%, with natural gas operating costs reaching 842 million RMB, up 31.35%[41] - The gross profit margin for gas sales decreased by 7.72 percentage points to 30.44% due to rising costs[45] - The total profit for the year was -114,269,923.86 RMB, compared to a profit of 47,569,743.67 RMB in the previous year, indicating a significant decline[160] - The net profit for the year was -81,833,499.07 RMB, a decrease from the previous year's net profit of 41,643,088.61 RMB[160] Cash Flow and Investments - The company's cash flow from operating activities showed a net decrease of 60.19%, dropping to 8.82 million RMB[43] - Cash inflow from operating activities totaled 1,765,259,813.07 RMB, an increase from 1,653,990,354.65 RMB in the previous year[163] - Cash outflow from operating activities was 1,756,443,278.14 RMB, compared to 1,631,843,516.85 RMB in the previous year, resulting in a net cash flow from operating activities of 8,816,534.93 RMB[163] - Cash flow from investing activities was -200,481,331.34 RMB, an improvement from -298,315,069.57 RMB in the previous year[163] - The company received 1,822,250,000.00 RMB in borrowings, an increase from 1,649,880,000.00 RMB in the previous year[165] - The company paid 1,581,950,000.00 RMB in debt repayments, compared to 1,724,930,000.00 RMB in the previous year[165] Assets and Liabilities - The total assets at the end of 2018 were CNY 5,627,641,581.87, an increase of 4.14% from CNY 5,403,927,170.47 at the end of 2017[19] - Total liabilities increased to CNY 3,511,134,701.98 from CNY 3,217,960,790.27, indicating a rise of approximately 9.09%[150] - Shareholders' equity decreased to ¥2,116,506,879.89 from ¥2,185,966,380.20, a decline of about 3.16%[151] - The company reported a decrease in undistributed profits to ¥329,777,295.38 from ¥423,019,805.78, a drop of approximately 22.14%[151] - Current assets rose to ¥896,967,387.75, up from ¥789,332,884.91, indicating an increase of about 13.65%[150] - Accounts receivable increased significantly to ¥93,521,604.47 from ¥58,808,868.02, a growth of approximately 58.67%[150] - Inventory grew to ¥419,977,844.62 from ¥364,113,070.80, reflecting an increase of around 15.36%[150] Operational Highlights - The company adjusted the non-residential natural gas prices in Q4 2018, which contributed to the increase in operating revenue despite the overall loss[21] - The company experienced a seasonal increase in gas demand during winter, leading to higher revenue in Q1 and Q4, while Q2 and Q3 were impacted by rising procurement costs[24] - The company operates in multiple sectors, including urban pipeline gas, municipal engineering, vehicle gas, clean energy development, and value-added services, indicating a diversified business model[30] - The clean energy sector is expected to grow due to government initiatives promoting clean heating and energy efficiency, providing new opportunities for the company's gas business[31] - The vehicle gas market is anticipated to expand as urbanization increases and the demand for cleaner fuel alternatives rises, particularly for LNG in logistics vehicles[31] Corporate Governance and Management - The company has appointed a new board and management team as of March 25, 2019, following the expiration of the previous term[111] - The independent director Du Jie has a background as a teacher at Jilin University and holds a CPA qualification[111] - The company’s board includes members with extensive experience in various sectors, including finance and law, enhancing its governance structure[111] - The company has established a performance-oriented dynamic compensation system to enhance employee motivation and align individual performance with company goals[118] - The total remuneration for the chairman Zhang Zhichao is CNY 577,900, while the general manager Liang Yongxiang received CNY 543,900[110] Social Responsibility and Community Engagement - The company emphasizes the integration of social responsibility with corporate culture, focusing on safety, environmental protection, and community contribution[93] - The company has completed its poverty alleviation tasks with 33 registered impoverished households, totaling 97 individuals[87] - The company invested 130,000 RMB in livestock for 33 impoverished households, with an expected annual income increase of 3,000 RMB per household[89] - The company has initiated a photovoltaic power generation project, expected to generate an annual income of 100,000 RMB, all of which will support impoverished households[89] - The company has achieved a total investment of 1.442 million RMB in poverty alleviation efforts, helping 97 registered impoverished individuals[90] Future Outlook and Strategy - The company is focusing on expanding its natural gas development and utilization during the 13th Five-Year Plan period, ensuring stable gas supply[34] - The company is actively promoting clean heating projects and the "coal-to-gas" initiative, which are expected to provide new market opportunities[35] - The company plans to actively develop value-added services and leverage internet technologies to improve customer service experience[69] - The company aims to optimize its organizational structure and implement mixed ownership reforms to enhance efficiency and reduce costs[69] - The company is positioned to benefit from the new urbanization policies and the expected economic rebound in China in the second half of 2019[64]

Financial Performance - Operating revenue for the reporting period was CNY 546,108,268.84, an increase of 13.47% year-on-year [5]. - Net profit attributable to shareholders of the listed company was CNY 2,770,404.71, a significant recovery from a loss of CNY 22,122,724.78 in the same period last year [5]. - The company reported a basic earnings per share of CNY 0.005, recovering from a loss of CNY 0.04 per share in the previous year [5]. - The company's net profit for Q1 2019 was CNY 1,524,415.86, a significant improvement compared to a net loss of CNY 23,105,114.89 in the same period last year, reflecting a 106.60% change [12]. - The total comprehensive income for Q1 2019 was CNY 1,524,415.86, a significant improvement from a loss of CNY 23,105,114.89 in the same period last year [26]. - The operating profit for Q1 2019 was CNY 18,873,062.41, compared to a loss of CNY 2,375,877.89 in Q1 2018 [29]. - The total profit for Q1 2019 was CNY 19,096,562.41, compared to a loss of CNY 2,351,931.39 in Q1 2018 [29]. Cash Flow - The net cash flow from operating activities was negative CNY 60,343,613.50, compared to negative CNY 38,369,516.69 in the previous year [5]. - Cash flow from operating activities showed a negative net amount of CNY -60,343,613.50, worsening by CNY -21,974,096.81 compared to the previous year [13]. - The cash flow from operating activities for Q1 2019 was a net outflow of CNY 60,343,613.50, worsening from a net outflow of CNY 38,369,516.69 in Q1 2018 [31]. - The net cash flow from financing activities was CNY 67,132,665.64, compared to CNY 8,932,595.60 in the previous year, indicating a substantial improvement [34]. - The company received CNY 404,000,000.00 in borrowings during Q1 2019, a significant increase from CNY 176,470,000.00 in the same quarter of the previous year, representing a 128.5% rise [34]. - The company experienced a net decrease in cash and cash equivalents of CNY 19,957,812.31 in Q1 2019, compared to a larger decrease of CNY 93,350,470.27 in Q1 2018 [32]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,617,723,520.17, a decrease of 0.18% compared to the end of the previous year [5]. - Current assets increased by 47.81% to CNY 36,770,343.68, mainly due to the reclassification of input tax increases during the reporting period [10]. - Current liabilities decreased to CNY 2,912,008,796.44 from CNY 3,020,397,854.88, indicating improved liquidity management [17]. - Long-term liabilities increased to CNY 564,750,698.64 from CNY 470,709,762.02, representing a rise of about 19.9% [22]. - The company's total assets as of March 31, 2019, amounted to CNY 5,237,348,180.78, compared to CNY 5,206,195,382.25 at the end of 2018 [22]. Shareholder Information - The company had a total of 46,562 shareholders at the end of the reporting period [7]. - The largest shareholder, Changchun Changgang Gas Co., Ltd., held 58.75% of the shares [7]. Revenue and Costs - Total operating revenue for Q1 2019 was CNY 546,108,268.84, an increase of 13.5% compared to CNY 481,285,945.63 in Q1 2018 [25]. - Total operating costs for Q1 2019 were CNY 548,096,526.84, up from CNY 510,705,276.37 in Q1 2018, reflecting a year-over-year increase of 7.3% [25]. - The company reported a gross profit of CNY 152,440,295.43 for Q1 2019, compared to a gross loss of CNY 21,091,503.88 in Q1 2018 [25]. Financial Expenses and Investment Income - Financial expenses rose by 57.06% to CNY 25,357,875.20 due to an increase in interest expenses from higher interest-bearing debts [12]. - Investment income decreased by 44.37% to CNY 3,317,394.46, attributed to reduced profits from invested enterprises [12]. - The investment income for Q1 2019 was CNY 3,317,394.46, down from CNY 5,962,834.01 in Q1 2018 [29]. Future Outlook - The company anticipates a slowdown in revenue growth for the next reporting period due to uncertainties in residential gas price adjustments and ongoing project developments [13]. - The company continues to explore market expansion opportunities and new product development strategies as part of its growth initiatives [25].

Financial Performance - Operating revenue for the first nine months was CNY 1,042,408,595.19, representing an increase of 11.78% year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 129,066,484.92, compared to a loss of CNY 13,606,425.31 in the same period last year[6] - The weighted average return on net assets decreased by 5.34 percentage points to -6.11%[6] - Basic earnings per share were reported at -0.21 CNY, down from -0.02 CNY in the previous year[6] - Net profit decreased significantly by 802.21% to -¥129,939,606.71, primarily due to rising costs[13] - The company expects a significant decline in profits for the next reporting period due to delayed price adjustments in response to rising natural gas supply prices[14] - The total profit for the first nine months of 2018 was a loss of ¥84,313,455.76, compared to a profit of ¥14,794,645.82 in the same period of 2017[31] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 93,399,175.98, worsening from a net outflow of CNY 60,462,078.94 in the same period last year[6] - Cash inflow from operating activities totaled CNY 1,105,550,224.60, a slight increase from CNY 1,100,753,047.18 in the previous year[35] - Cash outflow from operating activities was CNY 1,198,949,400.58, compared to CNY 1,161,215,126.12 in the previous year, resulting in a net cash flow from operating activities of -CNY 93,399,175.98[35] - Cash flow from financing activities decreased by 50.55% to ¥170,384,980.73, mainly due to reduced cash from a previous targeted issuance[14] - Net cash flow from financing activities was CNY 170,384,980.73, compared to CNY 344,566,756.47 in the previous year[36] - The company reported a net cash flow from investment activities of -CNY 137,095,079.87, an improvement from -CNY 244,476,839.55 in the previous year[35] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 5,425,071,951.82, a slight increase of 0.39% compared to the previous year[6] - Net assets attributable to shareholders decreased by 7.26% to CNY 2,019,757,831.49 from CNY 2,177,789,932.66 at the end of the previous year[6] - The company's total liabilities increased to ¥3,396,984,787.81 from ¥3,217,960,790.27, indicating a rise in financial obligations[19] - The company’s total liabilities to total assets ratio stood at approximately 62.1% in Q3 2018, indicating a relatively high leverage position[24] Shareholder Information - The number of shareholders at the end of the reporting period was 56,762, with the largest shareholder holding 58.75% of the shares[10] Operational Costs and Expenses - Operating costs increased by 31.17% to ¥750,783,239.36 due to rising upstream natural gas prices and increased gas volume[13] - Total operating costs for Q3 2018 were ¥352,828,050.67, up 20.5% from ¥292,904,985.55 in Q3 2017[24] - Sales expenses for Q3 2018 were ¥85,150,253.44, up from ¥80,398,816.77 in Q3 2017, showing a 9.5% increase[26] - The company's financial expenses for Q3 2018 were ¥21,063,914.76, an increase from ¥18,273,420.78 in Q3 2017, marking a 9.8% rise[30] Investment Income - Investment income dropped by 50.28% to ¥8,613,003.74, attributed to a decrease in net profit from invested entities[13] - Investment income for Q3 2018 was ¥1,032,263.63, up from ¥827,876.64 in Q3 2017, showing a growth of 24.7%[31]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 736,420,651.14, representing an increase of 11.11% compared to CNY 662,775,680.34 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was a loss of CNY 86,362,568.06, a decrease of 766.43% compared to a profit of CNY 12,959,055.03 in the previous year[17]. - The basic earnings per share for the first half of 2018 was -CNY 0.14, down 800.00% from CNY 0.02 in the same period last year[18]. - The weighted average return on net assets decreased by 4.04 percentage points to -4.04% compared to 0.80% in the previous year[18]. - The company's net cash flow from operating activities was -CNY 71,645,571.49, worsening from -CNY 14,550,686.91 in the same period last year[17]. - Operating costs rose by 32.34% to 544.74 million RMB, primarily due to increased natural gas purchase prices[29]. - The total operating costs for the first half of 2018 amounted to CNY 833,245,011.89, up from CNY 675,831,026.52 in the previous year, reflecting a significant increase in expenses[78]. - The total comprehensive income for the first half of 2018 was a loss of CNY 87,058,603.12, compared to a profit of CNY 11,730,501.88 in the same period last year[80]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,380,510,180.45, a slight decrease of 0.43% from CNY 5,403,927,170.47 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company decreased by 3.92% to CNY 2,092,439,545.56 from CNY 2,177,789,932.66 at the end of the previous year[17]. - The total liabilities as of June 30, 2018, were RMB 2,882,000,000.00, reflecting an increase from RMB 2,800,000,000.00 at the beginning of the period[71]. - Current liabilities totaled CNY 2,764,172,352.48, compared to CNY 2,666,863,659.88 at the beginning of the period, indicating a rise in short-term obligations[76]. - The company's equity attributable to shareholders decreased to CNY 2,092,439,545.56 from CNY 2,177,789,932.66, indicating a decline in shareholder value[76]. Cash Flow - The cash flow from financing activities decreased by 88.47% to 81.52 million RMB, primarily due to the previous year's fundraising[30]. - The net cash flow from financing activities was CNY 81,515,878.15, a significant decrease from CNY 707,248,452.36 in the previous year, reflecting tighter cash management[87]. - The total cash inflow from operating activities was CNY 592,837,960.96, while cash outflow was CNY 635,250,306.42, leading to a net cash flow deficit[86]. - Cash and cash equivalents at the end of the period totaled CNY 136,384,532.19, down from CNY 656,618,421.68, indicating a liquidity squeeze[84]. Investments and Subsidiaries - The company plans to invest in distributed energy supply projects, focusing on clean energy utilization for heating and cooling[24]. - The company operates 1 compressed natural gas (CNG) mother station and 10 CNG refueling stations, with one additional station under construction[24]. - The company has 9 city gas franchise subsidiaries, indicating a relatively monopolistic position in its operating regions[24]. - The total registered capital of Changchun Gas (Longjing) Co., Ltd. is CNY 5 million, holding a 100% stake in the company[38]. - The company has committed to a follow-up investment of no more than 500,000 RMB for a photovoltaic power generation project in Wanglong Village[54]. Risk and Compliance - The company did not report any significant risks that could materially affect its operations during the reporting period[5]. - There were no significant lawsuits or arbitration matters during the reporting period[44]. - The company has not disclosed any major related party transactions during the reporting period[45]. - The company has not proposed any profit distribution or capital reserve transfer plan for the half-year period[43]. Social Responsibility and Community Engagement - The company plans to invest up to 830,000 RMB in poverty alleviation projects, with a total expenditure not exceeding 900,000 RMB in 2018[48]. - A total of 97 registered impoverished individuals were lifted out of poverty during the reporting period[51]. - The company has successfully supported 33 impoverished households in Wanglong Village to achieve complete poverty alleviation[53]. - The company has implemented a comprehensive poverty alleviation strategy focusing on industrial development, infrastructure improvement, and social support[49]. Accounting Policies and Financial Reporting - The financial statements are prepared on a going concern basis, indicating the group has a history of profitable operations and sufficient financial resources to continue for at least 12 months from the reporting date[105]. - The group adheres to the enterprise accounting standards, ensuring that the financial statements accurately reflect the financial position, operating results, changes in equity, and cash flows[107]. - The company recognizes deferred tax assets and liabilities based on temporary differences between tax bases and book values[163]. - The company's revenue recognition policy includes sales of goods, provision of services, and transfer of asset usage rights[157].

Financial Performance - Operating revenue for the period was CNY 481,285,945.63, representing a year-on-year increase of 25.34%[6] - Net profit attributable to shareholders was a loss of CNY 22,122,724.78, a decline of 219.99% compared to the same period last year[6] - Basic earnings per share were CNY -0.04, down 233.33% from CNY 0.03 in the previous year[6] - Net profit for the quarter was a loss of ¥23,105,114.89, a decline of 234.42% compared to the previous year's profit of ¥17,188,411.42[14] - The net profit for Q1 2018 was a loss of CNY 23,105,114.89, compared to a profit of CNY 17,188,411.42 in Q1 2017, indicating a substantial decline in profitability[26] - Total comprehensive income for Q1 2018 was CNY -1,881,422.44, a stark contrast to CNY 20,680,085.31 in Q1 2017[28] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 38,369,516.69, compared to a net inflow of CNY -4,860,984.63 in the previous year[6] - Cash flow from operating activities decreased significantly by ¥33,508,532.06, resulting in a cash outflow of ¥38,369,516.69[15] - Operating cash flow for Q1 2018 was a net outflow of CNY -38,369,516.69, compared to a net outflow of CNY -4,860,984.63 in Q1 2017[29] - Net cash flow from operating activities was -$8,887,529.83, a decline from $12,947,163.43 in the previous period[31] - The net increase in cash and cash equivalents was -$48,156,830.48, compared to -$10,785,232.92 in the previous period, indicating a worsening cash position[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,351,009,287.73, a decrease of 0.98% compared to the previous year[6] - Current liabilities totaled ¥2,639,759,728.09, slightly down from ¥2,666,863,659.88 at the start of the year[18] - The company's total assets decreased slightly to CNY 5,072,130,741.92 from CNY 5,083,531,168.92[23] - The total liabilities amounted to CNY 3,020,087,078.99, down from CNY 3,029,898,181.30[23] - The company's equity decreased to CNY 2,052,043,662.93 from CNY 2,053,632,987.62, reflecting a decline in shareholder value[23] Shareholder Information - The number of shareholders at the end of the reporting period was 54,756[9] - The largest shareholder, Changchun Changgang Gas Co., Ltd., held 58.75% of the shares[9] Operating Costs - The company's operating costs increased by 51.31% to ¥354,461,358.01 due to rising raw material costs[14] - Total operating costs for Q1 2018 were CNY 510,705,276.37, up from CNY 378,288,501.08, reflecting a significant increase in costs[25] - Sales expenses for Q1 2018 were CNY 90,811,398.27, an increase from CNY 76,517,860.98 in the previous year[26] - The company incurred sales expenses of CNY 72,211,349.97 in Q1 2018, an increase from CNY 62,897,800.41 in the previous year[27] Investment and Financing Activities - Investment activities generated a cash outflow of ¥63,913,549.18, although this was an improvement of ¥7,333,464.29 compared to the previous year[15] - Financing activities saw a cash inflow of ¥8,932,595.60, down by ¥36,134,669.84 due to increased loan repayments[15] - Cash inflow from financing activities was $176,470,000.00, slightly decreased from $183,000,000.00 in the previous period[31] - Net cash flow from financing activities was $8,916,786.60, a significant decrease from $45,067,265.44 in the previous period[31]

Financial Performance - The company's operating revenue for 2017 was CNY 1,462,821,920.06, representing a 12.37% increase compared to CNY 1,301,847,533.24 in 2016[23] - The net profit attributable to shareholders of the listed company decreased by 30.13% to CNY 38,914,648.49 from CNY 55,697,900.15 in the previous year[23] - The basic earnings per share for 2017 was CNY 0.10, down 16.67% from CNY 0.12 in 2016[24] - The weighted average return on equity decreased by 1.04 percentage points to 2.90% from 3.94% in 2016[24] - The company reported a significant increase in net assets attributable to shareholders, rising by 35.15% to CNY 2,177,789,932.66 from CNY 1,611,438,426.35 in 2016[23] - The company reported a non-recurring profit of RMB 17,498,442.59 in 2017, a significant increase from RMB 7,057,755.22 in 2016[27] - The company achieved gas sales of 398 million cubic meters, an increase of 64 million cubic meters or 20% year-over-year[38] - The company reported a net profit of CNY 423,019,805.78, compared to CNY 370,771,023.56, representing a year-over-year increase of about 14.06%[167] Cash Flow and Investments - The net cash flow from operating activities significantly dropped by 83.97% to CNY 22,146,837.80 from CNY 138,191,355.07 in 2016[23] - Cash flow from operating activities decreased significantly by 83.97% to 22.15 million yuan[42] - The total cash inflow from operating activities was CNY 1,653,990,354.65, an increase from CNY 1,399,635,093.60 in the previous year, reflecting a growth of approximately 18.2%[179] - The net cash flow from financing activities was CNY 341,393,262.45, up from CNY 114,680,402.31, indicating an increase of about 197.5%[180] - The company reported a cash interest coverage ratio of 1.96 in 2017, down from 3.22 in 2016, a decrease of 39.13%, due to reduced net cash inflow from operating activities[143] - The company reported a significant decrease in accounts payable by 56.97% to ¥54,900,000 from ¥127,600,000, due to reduced payments using notes payable[52] Assets and Liabilities - Total assets increased by 5.36% to CNY 5,403,927,170.47 from CNY 5,129,069,859.19 in 2016[23] - Total liabilities decreased to CNY 3,029,898,181.30 from CNY 3,334,567,964.23 in 2016[171] - Owner's equity rose to ¥2,053,632,987.62, an increase of 37.25% from ¥1,495,232,739.45 in the previous year[171] - The debt-to-asset ratio decreased to 59.55% in 2017 from 68.15% in 2016, a reduction of 12.62%, mainly due to the impact of a private placement of shares[143] - The total liabilities to equity ratio improved to 1.47 from 2.14, indicating a stronger financial position[166] Market and Operational Insights - The company operates in nine cities with a monopoly on urban pipeline gas supply, relying entirely on natural gas sourced from PetroChina and Sinopec[30] - The clean energy business aims to provide comprehensive energy solutions using natural gas, with future investments planned in distributed energy supply projects[31] - The market for vehicle gas is expanding, particularly for LNG-powered logistics vehicles, driven by increasing urbanization and environmental concerns[32] - The overall profit level in the urban pipeline gas industry is expected to continue stable growth due to urbanization and economic development[31] - The company is positioned to benefit from government initiatives promoting clean energy and urban development, particularly in the Changchun area[35] Challenges and Risks - The company faced challenges due to upstream gas supply shortages and government supply restrictions, impacting annual gas sales volume[37] - The company expects to face challenges in 2018 due to a slowdown in the overall economic growth in Northeast China and increased competition from alternative energy sources[65] - Increased competition from alternative energy sources and upstream companies implementing direct supply methods may impact market development[68] Corporate Governance and Social Responsibility - The company has integrated social responsibility into its corporate culture, emphasizing accountability to shareholders, customers, employees, and society[92] - The company is committed to promoting clean energy and enhancing the proportion of natural gas in urban energy consumption[93] - The company conducted training sessions totaling 8,437 hours, with 45,447 participants, resulting in an average of 68 hours of training per employee[127] - The company invested CNY 0.403 million in poverty alleviation projects, benefiting 108 registered impoverished individuals[90] Future Outlook - The company anticipates a 20% increase in natural gas sales for 2018, driven by ongoing market development efforts[62] - The company aims for a natural gas market growth of no less than 20% in 2018 compared to the previous year[67] - The company plans to expand its market presence and invest in new technologies to drive future growth[168]

Financial Performance - Operating revenue for the first nine months reached CNY 932,512,739.45, a 13.30% increase year-on-year[6] - Net profit attributable to shareholders was a loss of CNY 13,606,425.31, a decrease of 148.00% compared to the same period last year[6] - Basic and diluted earnings per share were both CNY -0.02, a decrease of 140.00% compared to the previous year[6] - The company reported a net loss of CNY 22,730,049.80 for Q3 2017, compared to a profit of CNY 20,222,922.71 in Q3 2016[26] - The net profit for Q3 2017 was a loss of ¥5.42 million, compared to a profit of ¥25.52 million in Q3 2016, indicating a significant decline in profitability[30] - The total profit for Q3 2017 was a loss of ¥1.76 million, compared to a profit of ¥19.81 million in Q3 2016, indicating a substantial decline[30] Assets and Liabilities - Total assets increased by 4.76% to CNY 5,373,052,073.01 compared to the end of the previous year[6] - Total liabilities as of September 30, 2017, were CNY 3,055,282,918.78, a decrease from CNY 3,334,567,964.23 at the start of the year[24] - Cash and cash equivalents rose to CNY 115,386,770.32 from CNY 69,196,155.38 at the start of the year, reflecting a growth of 66.7%[22] - Inventory increased to CNY 188,054,234.73 from CNY 148,495,737.09, representing a growth of 26.7% year-to-date[23] - Other current assets increased by 215.90% to ¥39,556,154.66, primarily due to expected tax deductions[14] - Short-term borrowings rose by 109.22% to ¥1,464,950,000.00, mainly from increased short-term bank loans[14] - Long-term borrowings decreased by 59.96% to ¥232,800,000.00, mainly due to repayments of long-term bank loans[14] Cash Flow - Cash flow from operating activities showed a net outflow of CNY 60,462,078.94, a decline of 151.85% year-on-year[6] - Cash inflow from operating activities for the year-to-date period reached ¥1,100,753,047.18, an increase of 12.3% compared to ¥980,044,863.07 in the same period last year[32] - Cash outflow from operating activities totaled ¥1,161,215,126.12, up 34.5% from ¥863,436,167.60 year-on-year[32] - Net cash flow from operating activities was negative at ¥60,462,078.94, a decline from a positive ¥116,608,695.47 in the previous year[32] - Cash inflow from financing activities reached ¥1,961,580,000.00, significantly higher than ¥753,496,000.00 in the same period last year[33] - Cash outflow from financing activities totaled ¥1,617,013,243.53, an increase from ¥676,232,031.61 year-on-year[33] - Net cash flow from financing activities was positive at ¥344,566,756.47, compared to ¥77,263,968.39 in the previous year[33] Shareholder Information - The total number of shareholders at the end of the reporting period was 43,992[12] - The largest shareholder, Changchun Changgang Gas Co., Ltd., held 58.75% of the shares[12] Government Subsidies - Government subsidies recognized in the first nine months amounted to CNY 7,623,549.97[8] Operating Costs - Total operating costs for Q3 2017 were CNY 292,904,985.55, a rise of 19.9% from CNY 244,157,281.16 in Q3 2016[26] - Year-to-date total operating costs amounted to CNY 968,736,012.07, increasing by 17% from CNY 828,762,276.34 year-on-year[26] - Operating costs for Q3 2017 were ¥115.40 million, up from ¥111.22 million in Q3 2016, reflecting an increase of approximately 3.06%[29]