Financial Performance - The company's operating revenue for Q1 2022 was ¥279,765,054.92, representing a year-on-year increase of 13.18%[6] - The net profit attributable to shareholders of the listed company was -¥1,250,153.46, indicating a loss[6] - The net cash flow from operating activities was -¥42,316,254.26, showing a significant cash outflow[6] - Total operating revenue for Q1 2022 was CNY 279,765,054.92, an increase of 13.2% compared to CNY 247,188,636.65 in Q1 2021[35] - Net profit for Q1 2022 was CNY -2,935,092.73, compared to CNY -4,632,388.86 in Q1 2021, showing an improvement of 36.5%[39] - The total comprehensive income attributable to the parent company was -1,250,153.46 RMB, compared to -4,279,724.70 RMB in the same period last year, showing an improvement[41] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,580,028,000.69, an increase of 0.74% compared to the end of the previous year[9] - The company's total assets amounted to CNY 1,580,028,000.69, up from CNY 1,568,448,757.50, indicating a growth of 0.7%[35] - The company's total liabilities increased to CNY 621,551,046.08 from CNY 607,036,710.16, marking a rise of 2.5%[35] - The equity attributable to shareholders of the listed company was ¥676,405,461.38, a decrease of 0.18% from the previous year[9] - The total equity attributable to shareholders decreased to CNY 676,405,461.38 from CNY 677,655,614.84, a decline of 0.2%[35] Cash Flow - The net cash flow from operating activities was -42,316,254.26 RMB, a decline from -15,817,719.28 RMB year-over-year[44] - Cash received from sales of goods and services was 240,857,736.64 RMB, down from 250,369,171.06 RMB in the first quarter of 2021[41] - The net cash outflow from investing activities was -7,862,787.84 RMB, compared to -11,374,987.32 RMB in the previous year, indicating a reduced investment loss[44] - Cash and cash equivalents at the end of the period totaled 87,878,037.06 RMB, down from 238,123,553.06 RMB at the end of the first quarter of 2021[46] - The total cash inflow from financing activities was 41,021,160.00 RMB, with a net cash flow of 32,416,820.00 RMB, a significant recovery from -13,029,889.98 RMB in the same quarter last year[46] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 60,682, with the largest shareholder holding 50.67% of the shares[18] - The company held its first temporary shareholders' meeting in 2022 to extend the validity period of the resolution regarding the asset acquisition[25] Operational Developments - The company is in the process of acquiring 80% equity in Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd. to enhance its operational sustainability and profitability[22] - The company received conditional approval for its restructuring plan from the China Securities Regulatory Commission on December 15, 2021[25] - The company plans to continue advancing its restructuring efforts despite the temporary suspension of its asset acquisition review[25] Expenses and Investments - Research and development expenses increased to CNY 7,830,234.46 in Q1 2022 from CNY 4,685,582.61 in Q1 2021, representing a growth of 67.5%[35] - The company recorded investment income of CNY 5,177,469.78, compared to CNY 452,879.87 in the previous year, reflecting a substantial increase[39] Other Financial Metrics - The basic and diluted earnings per share were both -¥0.01, compared to ¥0.00 in the same period last year[9] - The company experienced an increase in revenue from joint ventures, contributing positively to profit despite the overall net loss[14] - The increase in cash outflow from operating activities was mainly due to rising raw material prices and payments for matured acceptance bills[14] - The company reported a decrease in employee compensation payable from CNY 27,257,688.27 to CNY 15,454,990.55, a reduction of 43.3%[35] - Long-term payables rose significantly to CNY 53,207,700.00 from CNY 30,000,000.00, an increase of 77.4%[35] - The company's cash and cash equivalents decreased to RMB 87,878,037.06 from RMB 105,776,763.72 year-over-year[26] - Accounts receivable increased to RMB 184,171,685.42 from RMB 175,225,191.63, reflecting a growth of approximately 5.4%[30] - Inventory rose to RMB 335,505,032.37 from RMB 324,694,186.81, indicating an increase of about 3.5%[30] - The company’s long-term equity investments increased to RMB 84,494,443.00 from RMB 79,947,483.76, showing a growth of approximately 5.7%[30] - Short-term borrowings increased to RMB 93,966,040.00 from RMB 83,825,972.96, representing a rise of about 12.8%[30] - The company experienced a foreign exchange loss of -136,504.56 RMB, an improvement from -721,387.19 RMB in the same quarter last year[46]

Financial Performance - The company's operating revenue for the first quarter was CNY 279,765,054.92, representing a year-on-year increase of 13.18%[8]. - The net profit attributable to shareholders of the listed company was CNY -1,250,153.46, with no applicable percentage change due to losses[9]. - The net cash flow from operating activities was CNY -42,316,254.26, indicating a significant cash outflow[11]. - The basic earnings per share were CNY -0.01, unchanged from the previous period[12]. - The weighted average return on equity increased by 0.27 percentage points to -0.24%[14]. - The net profit for Q1 2022 was reported at -¥2,935,092.73, an improvement from -¥4,632,388.86 in Q1 2021, indicating a reduction in losses of approximately 36.5%[53]. - Total comprehensive income for Q1 2022 was -2,935,092.73 RMB, an improvement from -4,632,388.86 RMB in Q1 2021[57]. - The comprehensive income attributable to the parent company for Q1 2022 was -1,250,153.46 RMB, compared to -4,279,724.70 RMB in Q1 2021[57]. - Basic and diluted earnings per share for Q1 2022 remained at -0.01 RMB, consistent with Q1 2021[57]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,580,028,000.69, reflecting a 0.74% increase from the previous year[17]. - The equity attributable to shareholders of the listed company decreased by 0.18% to CNY 676,405,461.38[18]. - As of March 31, 2022, the total current assets amounted to RMB 723,345,339.87, an increase from RMB 707,129,818.70 as of December 31, 2021, representing a growth of approximately 2.9%[39]. - The company’s long-term liabilities rose to ¥93,514,747.56 as of March 31, 2022, compared to ¥70,307,047.56 at the end of 2021, representing an increase of approximately 33.0%[45]. - The total liabilities increased to ¥621,551,046.08 from ¥607,036,710.16, which is an increase of about 2.5%[45]. - Current liabilities decreased to ¥528,036,298.52 from ¥536,729,662.60, representing a reduction of about 1.3%[43]. Cash Flow - Cash inflow from operating activities in Q1 2022 was 240,857,736.64 RMB, a decrease from 250,369,171.06 RMB in Q1 2021[59]. - Cash outflow from operating activities in Q1 2022 totaled 296,936,183.21 RMB, slightly higher than 290,833,808.54 RMB in Q1 2021[62]. - Net cash flow from operating activities for Q1 2022 was -42,316,254.26 RMB, worsening from -15,817,719.28 RMB in Q1 2021[62]. - Net cash flow from investing activities in Q1 2022 was 8,712.00 RMB, up from 1,248.00 RMB in Q1 2021[61]. - Net cash flow from financing activities for Q1 2022 was 32,416,820.00 RMB, a significant improvement from -13,029,889.98 RMB in Q1 2021[68]. - The ending cash and cash equivalents balance for Q1 2022 was 87,878,037.06 RMB, down from 238,123,553.06 RMB in Q1 2021[71]. - The company reported a decrease in cash and cash equivalents of -17,898,726.66 RMB in Q1 2022, compared to -40,943,983.77 RMB in Q1 2021[70]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 60,682[29]. - The largest shareholder, Beijing Jingcheng Machinery Holdings Limited, holds 50.67% of the shares[30]. Strategic Initiatives - The company is in the process of acquiring 80% equity in Qingdao Beiyang Tianqing Intelligent Co., Ltd. to enhance its operational sustainability and profitability[35]. - The company received conditional approval from the M&A Committee of the China Securities Regulatory Commission for its asset purchase and fundraising plan[37]. - The company plans to continue advancing its asset purchase and fundraising initiatives despite previous setbacks in regulatory approvals[37]. - The company is committed to timely information disclosure regarding the progress of its asset acquisition and fundraising activities[37]. Research and Development - Research and development expenses increased to ¥7,830,234.46 in Q1 2022 from ¥4,685,582.61 in Q1 2021, reflecting a growth of about 67.5%[51].

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) Contents 目錄 | --- | --- | |---------------------|----------------------------------------------------------------------| | | | | Section 1 第一節 | DEFINITION 釋義 | | Section 2 第二節 | COMPANY PROFILE AND KEY FINANCIAL INDICATORS 公司簡介和主要財務指標 | | Section 3 第三節 | ...

Financial Performance - The net profit attributable to shareholders for 2021 was -23,282,271.43 yuan, with an undistributed profit at year-end of -687,333,700.32 yuan, resulting in no profit distribution for the year [6]. - The company's operating revenue for 2021 was approximately ¥1.18 billion, representing an increase of 8.67% compared to ¥1.09 billion in 2020 [27]. - The net profit attributable to shareholders for 2021 was approximately -¥23.28 million, a significant decrease from ¥156.43 million in 2020 [27]. - The net cash flow from operating activities for 2021 was approximately -¥32.69 million, compared to -¥27.91 million in 2020 [27]. - The total assets as of the end of 2021 were approximately ¥1.57 billion, a decrease of 8.03% from ¥1.71 billion at the end of 2020 [27]. - The net assets attributable to shareholders at the end of 2021 were approximately ¥677.66 million, down 3.12% from ¥699.47 million at the end of 2020 [27]. - Basic earnings per share for 2021 was -0.05 CNY, a decrease from 0.34 CNY in 2020 [30]. - The weighted average return on equity decreased to -3.38% in 2021 from 30.13% in 2020, a decline of 33.51 percentage points [30]. - The company reported a significant decrease in investment cash inflow by 99.73% to ¥996,336.65, mainly due to the previous year's property transfer [90]. Acquisition and Restructuring - The company is in the process of acquiring 80% of Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd. to enhance its operational and profitability capabilities [8]. - The acquisition plan has undergone multiple board meetings and received conditional approval from the China Securities Regulatory Commission (CSRC) on December 15, 2021 [11]. - The company has successfully passed the restructuring review by the China Securities Regulatory Commission, enhancing its core competitiveness through the acquisition of intelligent manufacturing enterprise Beiyang Tianqing [41]. - The restructuring plan has undergone multiple approvals, with conditional approval granted by the China Securities Regulatory Commission (CSRC) on December 15, 2021 [106]. - The company is focused on enhancing its market position through strategic acquisitions and restructuring efforts [102]. - The company has been actively working on the restructuring despite the challenges faced, ensuring alignment with shareholder interests [106]. Operational Challenges and Responses - The company faced operational challenges due to the COVID-19 pandemic, including increased costs and market instability, which have heightened operational risks [12]. - The company has established a pandemic prevention mechanism to mitigate the adverse effects of COVID-19 on its operations [12]. - The company is focusing on governance improvements and operational efficiency to ensure sustainable development [38]. - The company will continue to implement COVID-19 prevention measures while ensuring smooth operations and maintaining relationships with customers, suppliers, and logistics partners [146]. Market and Product Development - The company plans to expand its market presence and invest in new product development, particularly in the LNG industry [27]. - The company is focusing on enhancing its production capabilities through the construction of intelligent production lines for composite gas cylinders [27]. - The company reported a significant increase in LNG storage tank market orders, contributing to revenue growth in the domestic market [38]. - The international market showed recovery, with demand for gas cylinders rebounding in the U.S. and increased recognition in the European market [38]. - The company is focusing on the development of high-pressure seamless gas cylinders, which are widely used in various industries, enhancing its market presence globally [50]. - The company aims to enhance its competitive advantage by optimizing its natural gas product structure and innovating operational models [114]. - The company plans to improve its product structure by exiting low-margin products and increasing the share of high-value products such as high-end cylinders and lightweight high-pressure cylinders [146]. Research and Development - The company reported a significant increase in R&D investment aimed at technological advancements in its product offerings [27]. - Research and development expenses remained stable at approximately ¥26.54 million, a slight decrease of 0.07% from the previous year's ¥26.56 million [68]. - The number of R&D personnel accounted for 7.2% of the total workforce, with 20 holding master's degrees [85]. - The company has invested CNY 50 million in R&D for new technologies aimed at improving operational efficiency [170]. - The company is committed to enhancing its R&D capabilities, increasing investment in technology development, and addressing key technical bottlenecks to improve product competitiveness [146]. Financial Management and Governance - The company has established a comprehensive internal management system to enhance risk prevention capabilities, ensuring compliance with external regulations and improving operational efficiency [41]. - The company has a structured remuneration decision-making process for its directors and senior management, based on annual assessment indicators [181]. - The company has maintained its commitment to corporate governance by ensuring that remuneration proposals are reviewed and approved by the board and shareholders [181]. - The board has ensured compliance with legal procedures and the effectiveness of submitted legal documents regarding transactions [199]. Future Outlook - The company aims to stabilize traditional markets while closely monitoring emerging market opportunities [146]. - The company plans to strengthen partnerships with large gas companies to develop a comprehensive service chain to meet increasing market demands [110]. - The LNG refueling station market is projected to expand significantly due to favorable policies related to carbon neutrality and clean energy [110]. - The company aims to enhance its independent innovation capabilities and expand market share in response to intensified competition in the gas storage and transportation market [121].

Financial Performance - The company's operating revenue for Q3 2021 was ¥325,949,970.94, representing an increase of 11.73% compared to the same period last year[7]. - The net profit attributable to shareholders of the listed company was a loss of ¥5,698,037.08, with a year-to-date loss of ¥7,011,341.99[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥6,500,439.67 for the quarter[9]. - The net cash flow from operating activities was negative at ¥34,095,893.23 year-to-date[9]. - The basic and diluted earnings per share for the quarter were both ¥0.00, compared to a loss of ¥0.01 in the same period last year[9]. - The company reported a 49.47% increase in net profit attributable to shareholders year-to-date compared to the previous year, attributed to strict cost control[16]. - The net profit for the third quarter of 2021 was a loss of ¥13,367,222.75, an improvement from a loss of ¥51,771,033.45 in the same quarter of 2020[35]. - The total comprehensive income for the third quarter included a loss of -¥315,521.28, compared to a loss of -¥2,447,565.22 in the same quarter of 2020, indicating an improvement[35]. - The total comprehensive income attributable to the parent company for the first three quarters of 2021 was CNY -7,297,364.68, a decrease from CNY -37,562,780.60 in the same period of 2020[38]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,519,962,957.68, a decrease of 10.88% compared to the end of the previous year[10]. - The equity attributable to shareholders of the listed company was ¥692,175,265.36, down 1.04% from the end of the previous year[10]. - Current assets totaled RMB 691,686,505.75, down from RMB 859,229,725.97 in the previous year[27]. - The total liabilities decreased to ¥532,011,269.67 from ¥703,825,928.94 year-over-year, showing a reduction of about 24.4%[30]. - The total equity attributable to shareholders of the parent company was ¥692,175,265.36, slightly down from ¥699,472,630.04 in the previous year[32]. Cash Flow - The total operating cash inflow for the first three quarters of 2021 was CNY 906,333,784.42, an increase from CNY 854,980,729.01 in the same period of 2020, representing a growth of approximately 6.1%[38]. - The net cash outflow from operating activities for the first three quarters of 2021 was CNY -34,095,893.23, compared to a net inflow of CNY 57,108,506.89 in the same period of 2020[42]. - The cash flow from sales of goods and services received was CNY 818,903,634.12, an increase from CNY 784,414,314.49 in the same period of 2020[38]. - The total cash outflow from operating activities was CNY 940,429,677.65, compared to CNY 797,872,222.12 in the same period of 2020[42]. - The company reported a tax refund of CNY 33,409,524.36, slightly up from CNY 32,807,417.05 in the same period of 2020[42]. Investments and Acquisitions - The company is in the process of acquiring 80% equity in Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd. to enhance its ongoing operations and profitability[20]. - The company is continuing to push forward with its asset restructuring project, pending approval from the China Securities Regulatory Commission[22]. - The company has ongoing litigation involving its subsidiary, which may impact future profits, but the outcome remains uncertain[23]. Research and Development - Research and development expenses for the third quarter of 2021 amounted to ¥15,130,233.62, up from ¥13,782,742.08 in the previous year, reflecting an increase of approximately 9.8%[32]. - The company plans to continue its focus on R&D and cost management strategies to enhance profitability in future quarters[32]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,130[17]. - The company has not disclosed any related party relationships among its major shareholders[27].

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].

Acquisition and Strategic Development - The company is in the process of acquiring 80% of Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd. to enhance its operational and profitability capabilities[9] - The acquisition proposal has been reviewed multiple times by the board and is pending approval from the China Securities Regulatory Commission (CSRC)[9] - The company is committed to timely information disclosure regarding the progress of its acquisition and other significant matters[9] - The company plans to expand its market presence through strategic acquisitions, including the acquisition of Qingdao Beiyang Tianqing Intelligent Co., Ltd.[20] - The company is continuing its strategic acquisition of 80% of Qingdao Beiyang Tianqing Digital Intelligence Co., Ltd. to enhance its ongoing operations and profitability[137] Financial Performance - The company's operating revenue for the first half of 2021 was RMB 526,554,520.75, representing a 0.52% increase compared to RMB 523,831,648.77 in the same period last year[30] - The net profit attributable to shareholders of the listed company was a loss of RMB 1,313,304.91, compared to a loss of RMB 24,089,791.77 in the previous year[30] - The net cash flow from operating activities was negative RMB 42,048,198.13, contrasting with a positive RMB 26,638,246.85 in the same period last year[30] - The total assets at the end of the reporting period were RMB 1,584,850,794.15, down 7.07% from RMB 1,705,430,862.39 at the end of the previous year[30] - The net assets attributable to shareholders of the listed company were RMB 697,873,302.44, a decrease of 0.23% from RMB 699,472,630.04 at the end of the previous year[30] - Basic earnings per share for the reporting period (1-6 months) was -0.01 CNY, compared to -0.06 CNY in the same period last year, showing an improvement[33] - Diluted earnings per share for the reporting period was -0.01 CNY, consistent with the previous year[33] - The weighted average return on equity increased by 7.22 percentage points to -0.19% from -7.41% year-on-year[33] Operational Challenges - The company has faced litigation risks involving its subsidiary, Beijing Tianhai Low Temperature Equipment Co., Ltd., with ongoing court proceedings that may impact future profits[10] - The COVID-19 pandemic has increased operational costs and market instability, posing significant challenges to the company's business operations[11] - The company has implemented a pandemic prevention mechanism to mitigate potential adverse effects on production and operations[11] Cost Management and Efficiency - The company focused on cost reduction and efficiency improvement, achieving significant results in various cost-cutting measures[48] - Operating costs decreased by 1.61% to approximately ¥453.22 million, attributed to cost reduction through procurement and technology[53] - Sales expenses significantly reduced by 36.28% to approximately ¥15.05 million due to strict cost control measures[53] - Management expenses increased by 23.56% to approximately ¥39.92 million, primarily due to increased salaries compared to the previous year[53] - Research and development expenses rose by 9.30% to approximately ¥10.02 million, reflecting increased investment in R&D[53] Market Trends and Product Development - The company is focusing on the development of new products and technologies, particularly in the field of LNG and CNG refueling stations[19] - The industrial gas market in China achieved a growth rate of 8-10% in the first half of the year, indicating a stable demand for industrial gases[41] - The apparent consumption of natural gas in China increased with a compound growth rate of 10.6% from 2019 to 2021, driving demand in the upstream and downstream sectors[41] - The hydrogen energy and fuel cell industry is projected to experience significant growth, with policies supporting the development of the hydrogen energy industry chain[44] - The company’s main products include LNG and CNG cylinders, which are essential for the growing clean energy market[39] Environmental Responsibility - The company has been listed as a key pollutant discharge unit by the Tianjin Environmental Protection Bureau[85] - Wastewater discharge in the first half of 2021 met the Tianjin wastewater discharge standards, with all monitored pollutants within acceptable limits[85] - The average concentration of chemical oxygen demand in wastewater was 70.5 mg/L, significantly below the limit of 500 mg/L[86] - The company has established effective pollution prevention facilities at production sites, utilizing dry filters, activated carbon adsorption, and catalytic combustion for volatile organic compound emissions[99] - The company has developed an emergency response plan for environmental pollution incidents, which includes annual drills and updates based on evaluations[101] Employee Management and Training - The company employed 1,323 employees during the reporting period[73] - Employee compensation amounted to 77.8385 million yuan in the reporting period[73] - The company completed a total of 12,580 training hours, involving 2,773 participants, with an average of 10.1 hours of training per person[73] - The company has implemented a diversified compensation system based on job performance, ensuring internal and external fairness in salary levels[73] - The company has established a multi-channel career development path for employees across different job categories, enhancing employee engagement and skill improvement[73] Corporate Governance and Compliance - The board has confirmed that all directors attended the board meeting, ensuring the accuracy and completeness of the financial report[5] - The company has adhered to the corporate governance code as per the stock exchange regulations throughout the reporting period[73] - The board of directors and its committees have effectively carried out their responsibilities, ensuring compliance and operational clarity[73] - The company has not purchased, sold, or redeemed any of its own shares during the reporting period[73] Shareholder Information - As of the end of the reporting period, the total number of ordinary shareholders was 15,345[144] - Beijing Jingcheng Electromechanical Holding Co., Ltd. holds 63,000,000 restricted shares, which will be released on July 11, 2023[147] - The top ten shareholders include Beijing Jingcheng Electromechanical Holding Co., Ltd. with a 50.67% stake, totaling 245,735,052 shares[144] - The company did not experience any changes in total shares or capital structure during the reporting period[139] - There were no new restricted shares added during the reporting period, maintaining the total restricted shares at 63,000,000[143]

Financial Performance - Operating revenue for the current period was CNY 247,188,636.65, representing an increase of 28.10% year-on-year [8]. - Net profit attributable to shareholders of the listed company was CNY -4,279,724.70, an improvement from CNY -25,633,092.04 in the same period last year [8]. - Net profit for the period was -4,632,388.86, an improvement from -37,776,160.64 in the same period last year, indicating effective cost control measures [20]. - The company reported a basic earnings per share of CNY -0.01, unchanged from the previous year [8]. - The weighted average return on equity increased to -0.51%, up by 7.38 percentage points from -7.89% in the previous year [8]. Cash Flow - The net cash flow from operating activities was CNY -15,817,719.28, compared to CNY 14,456,622.77 in the previous year [8]. - Cash received from operating activities increased by 54.71% to 17,942,443.77 from 11,597,097.13, primarily due to government grants received [20]. - Cash paid for purchasing goods and services rose by 40.56% to 193,873,848.81 from 137,932,577.11, attributed to increased material procurement costs [20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,656,361,235.71, a decrease of 2.88% compared to the end of the previous year [8]. - Accounts receivable financing increased by 96.83% to 8,175,014.07 from 4,153,285.64, mainly due to an increase in bank acceptance bills planned for early settlement [17]. - Deferred tax assets decreased by 97.40% to 7,472.56 from 287,827.59, primarily due to the impact of deferred tax items from subsidiaries [17]. - Contract liabilities decreased by 80.61% to 11,801,512.93 from 60,853,270.89, mainly due to a reduction in advance payments from subsidiaries [17]. - Long-term borrowings decreased by 100% to 0.00 from 1,154,907.30, due to loan exemptions received under small and medium enterprise support policies [17]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,161 [14]. - The largest shareholder, Beijing Jingcheng Machinery Electric Holding Co., Ltd., held 50.67% of the shares [14]. Research and Development - Research and development expenses surged by 1310.25% to 4,685,582.61 from 332,251.77, reflecting increased investment in R&D [17]. - The company has not disclosed any new product developments or market expansion strategies in this report [8]. Taxation - The company reported a 400.13% increase in income tax expenses to 717,812.92 from 143,525.47, reflecting higher tax obligations [20]. Corporate Actions - The company is in the process of acquiring 80% equity in Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd., with various board meetings held to approve the transaction [23]. Audit and Compliance - The report was unaudited, and the management has confirmed the accuracy and completeness of the financial statements [7].

2021 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 2021 年第一季度报告 1 / 20 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 20 2021 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王军、主管会计工作负责人姜驰及会计机构负责人（会计主管人员）王艳东保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |------------------------------------------------|---------------- ...

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]