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]

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

Financial Performance - Operating income for the period from January to September was ¥815,569,696.60, a decrease of 8.09% year-on-year[8]. - Net profit attributable to shareholders of the listed company improved by 44.62%, reaching a loss of ¥35,365,483.46 compared to a loss of ¥63,858,836.73 in the previous year[8]. - The company reported a net loss of ¥51,771,033.45, a 36.23% improvement from a loss of ¥81,179,643.46 in the same period last year[23]. - The total profit margin improved by 37.00%, with total profit recorded at -¥49,770,277.38 compared to -¥78,999,093.75 in the previous year[23]. - Basic and diluted earnings per share were both -¥0.08, improving from -¥0.15 in the same period last year[10]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,703,294,965.98, an increase of 1.94% compared to the previous year-end[8]. - Net assets attributable to shareholders of the listed company increased by 50.73% to ¥508,374,805.40 compared to the previous year-end[8]. - Cash and cash equivalents increased by 115.50% to ¥179,961,803.52 from ¥83,509,311.05 due to increased cash inflows from operating activities[20]. - The company’s short-term borrowings decreased by 34.95% to ¥189,258,978.48 from ¥290,964,226.81, attributed to changes in financing methods[20]. - The company’s other payables increased by 73.14% to ¥145,140,450.60 from ¥83,829,249.76, mainly due to increased loans from subsidiaries[20]. Cash Flow and Investments - The net cash flow from operating activities for the period was ¥57,108,506.89, an increase of 22.14% year-on-year[8]. - The company received cash from investment recovery amounting to ¥27,634,150.00, marking a 100% increase from the previous year[23]. Research and Development - R&D expenses rose by 126.72% to ¥13,782,742.08 compared to ¥6,079,205.39, reflecting increased investment in research and development[20]. Government Support and Other Income - The company received government subsidies amounting to ¥357,388.06 during the reporting period[10]. - The company reported a significant increase in other income, which rose by 72.53% to ¥1,948,142.47 from ¥1,129,180.64, mainly due to increased government subsidies[23]. - Non-recurring gains and losses totaled ¥313,812.93 for the period from July to September[12]. - The company’s deferred income increased by 218.04% to ¥6,526,218.66 from ¥2,052,019.15, primarily due to grants received from the Science and Technology Commission[20]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,729, with the largest shareholder holding 50.67% of the shares[15]. Future Plans - The company plans to acquire control of Qingdao Beiyang Tianqing Data Intelligence Co., Ltd. through a share issuance and cash payment, pending board and shareholder approvals[26].

Financial Performance - Operating income for the first nine months was ¥815,569,696.60, a decrease of 8.09% year-on-year[17]. - Net profit attributable to shareholders of the listed company was -¥35,365,483.46, improving by 44.62% compared to -¥63,858,836.73 in the previous year[17]. - The total profit for the period was -49,770,277.38, an improvement of 37.00% compared to -78,999,093.75 in the same period last year[31]. - The net profit for the period was -51,771,033.45, reflecting a 36.23% increase from -81,179,643.46 year-over-year[31]. - The net profit attributable to the parent company was -35,365,483.46, showing a 44.62% improvement compared to -63,858,836.73 in the previous year[31]. - The company reported a net loss of ¥855,848,669.92, compared to a loss of ¥820,483,186.46 in the previous year, reflecting a worsening of approximately 4.3%[43]. - Net profit for Q3 2020 was a loss of approximately ¥14.33 million, compared to a loss of ¥32.65 million in Q3 2019, representing a 56.05% improvement[56]. - The total comprehensive income for the first three quarters of 2020 was approximately 3.89 million RMB, down from 4.17 million RMB in the previous year, reflecting a decline of about 6.9%[69]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,703,294,965.98, an increase of 1.94% compared to the end of the previous year[17]. - The company's total liabilities decreased to ¥871,395,023.55 from ¥970,214,249.29, showing a reduction of about 10.2%[43]. - Current liabilities rose to ¥792,855,081.09 from ¥783,120,616.52, reflecting an increase of approximately 1.0%[41]. - Non-current assets totaled ¥871,202,110.49, a slight decrease from ¥888,278,720.15, indicating a decline of about 1.5%[41]. - The company’s total current assets decreased to ¥382,286,305.99 from ¥393,007,662.42, indicating a decline of about 2.0%[47]. - The company reported a significant decrease in short-term borrowings by 34.95% to ¥189,258,978.48 due to changes in financing methods[28]. - Long-term payables decreased significantly from ¥155,100,000.00 to ¥39,266,912.56, a decline of about 74.7%[43]. Cash Flow - Net cash flow from operating activities for the first nine months was ¥57,108,506.89, an increase of 22.14% year-on-year[17]. - Cash and cash equivalents increased by 115.50% to ¥179,961,803.52 due to higher operating cash inflows[28]. - Cash received from investment recoveries amounted to 27,634,150.00, a 100.00% increase from 0.00 in the same period last year[31]. - Cash received from financing activities was 211,111,360.00, a 100.00% increase from 0.00 in the same period last year[31]. - The cash inflow from operating activities totaled approximately 854.98 million RMB, slightly up from 846.19 million RMB in the same period of 2019, indicating a marginal increase of about 1.0%[69]. - The net cash flow from financing activities was 148,778,056.57 CNY, a significant increase from 35,232,309.89 CNY in the previous year[71]. - The net cash flow from investment activities was -203,648,498.64 CNY, contrasting with a positive cash flow of 3,994,150.00 CNY in the previous year[74]. Shareholder Information - The total number of shareholders at the end of the reporting period was 13,729[22]. - The company is in the process of acquiring control of Qingdao Beiyang Tianqing Shulian Intelligent Co., Ltd., pending board and shareholder approvals[34]. - The company plans to dispose of real estate assets valued at 41,019.50 million RMB, subject to shareholder approval[34]. Research and Development - R&D expenses rose by 126.72% to ¥13,782,742.08 reflecting increased investment in research and development[28]. - Research and development expenses increased significantly to approximately ¥4.62 million in Q3 2020, up 189.00% from ¥1.59 million in Q3 2019[52]. - The research and development expenses for the first three quarters of 2020 were reported as 0.00 RMB, indicating no investment in R&D during this period[65].

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

Financial Performance - The company reported a negative net profit for both 2018 and 2019, raising concerns about potential suspension of A-share listing if 2020 audited net profit remains negative[7]. - The company's operating revenue for the first half of the year was ¥523,831,648.77, a decrease of 11.98% compared to the same period last year[22]. - The net profit attributable to shareholders was -¥24,089,791.77, an improvement from -¥35,573,865.71 in the previous year[22]. - The basic earnings per share for the first half of the year was -¥0.06, an improvement from -¥0.08 in the same period last year[23]. - The weighted average return on net assets was -7.41%, an increase of 0.51 percentage points compared to the previous year[23]. - The company reported non-recurring gains and losses totaling ¥3,576,933.56, primarily from government subsidies and other income[27]. - The company reported a net profit of approximately -37.44 million for the period[68]. - The company reported a net loss of ¥37,446,012.29 for the current period, compared to a net loss of ¥48,526,476.74 in the same period last year, indicating an improvement of approximately 22.6%[160]. - The total comprehensive loss for the period was ¥-37,102,165.85, compared to ¥-48,842,123.63 in the same period last year, indicating a year-over-year improvement of approximately 24%[162]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 74.13% to ¥26,638,246.85 compared to the same period last year[22]. - The net cash flow from operating activities was approximately 26.64 million, an increase of about 11.34 million compared to the same period last year[68]. - Cash and cash equivalents at the end of the period amounted to 294.71 million yuan, representing 15.79% of total assets, a 269.21% increase compared to the same period last year[52]. - The cash and cash equivalents at the end of the period reached ¥261,518,221.63, up from ¥77,270,773.84, marking an increase of approximately 238.5%[173]. - The net cash flow from investing activities was ¥18,036,307.86, a significant improvement from a negative cash flow of ¥6,908,049.77 in the previous period[173]. - Cash inflow from financing activities totaled ¥312,355,289.45, compared to ¥145,466,001.21 in the prior year, representing a substantial increase of approximately 114.5%[173]. Shareholder and Equity Information - The company’s major shareholder, Beijing Jingcheng Machinery Holdings Co., Ltd., holds approximately 50.67% of the company's equity[13]. - The company raised a total of RMB 214.83 million through a non-public issuance of A-shares, with a net amount of approximately RMB 207.73 million after deducting issuance costs[33]. - The total share capital of the company increased from 422,000,000 shares to 485,000,000 shares following the private placement[128]. - The controlling shareholder, Beijing Jingcheng Machinery Electric Company, subscribed to 63 million shares, increasing its holdings from 182,735,052 shares to 245,735,052 shares, raising its ownership percentage from 43.30% to 50.67%[128]. - The total owner's equity at the end of the current period is reported at 700,625,251.52, reflecting a decrease of 48,842,123.63 compared to the previous period[186]. Legal and Regulatory Matters - The company’s subsidiary, Beijing Tianhai Low Temperature Equipment Co., Ltd., is currently involved in a civil lawsuit, with potential impacts on profits yet to be determined[7]. - The company has not reported any significant related party transactions that would impact its financial performance[98]. - The company has committed to fair and reasonable market pricing for related party transactions, ensuring no improper benefits are obtained[82]. - The company has ensured that it will not engage in direct or indirect competition with the listed company through its controlled enterprises[82]. Environmental and Social Responsibility - Tianjin Tianhai was listed as a key pollutant discharge unit by the Tianjin Environmental Protection Bureau, with wastewater discharge meeting local standards in the first half of 2020[110]. - The average concentration of chemical oxygen demand (COD) in wastewater was reported at 198.25 mg/L, significantly below the standard limit of 500 mg/L[110]. - The company has established pollution prevention facilities at all production discharge points, with 35 sets of dust purification equipment operating effectively[122]. - The company has implemented a self-monitoring plan in accordance with environmental protection regulations, covering all pollutants emitted from its facilities[120]. Research and Development - Research and development expenses increased significantly by 104.16% to approximately ¥9.16 million, compared to ¥4.49 million in the previous year, reflecting a strong focus on innovation[46]. - The company is focusing on the hydrogen energy sector, establishing strategic partnerships to drive growth and innovation in high-pressure hydrogen storage and supply systems[48]. - The company plans to continue expanding its hydrogen energy business and developing the hydrogen energy industry chain to capture market opportunities[61]. Operational Performance - The company achieved operating revenue of approximately RMB 523.83 million, a year-on-year decrease of about 11.98%[39]. - Operating costs decreased by 13.06% to approximately ¥460.65 million from ¥529.85 million year-on-year, primarily due to reduced main business income[48]. - The company is actively expanding its LNG vehicle product market share, with significant growth in the domestic main engine factory market[48]. - The company is enhancing its internal management and cost reduction measures to improve profitability and achieve diversified development[39].

Financial Performance - Operating income for the period was CNY 192,963,906.69, down 23.14% year-on-year[12] - The net profit attributable to shareholders of the listed company was a loss of CNY 25,633,092.04, compared to a loss of CNY 22,586,691.70 in the same period last year[12] - The weighted average return on net assets decreased by 2.93 percentage points to -7.89%[12] - Basic and diluted earnings per share were both CNY -0.06, compared to CNY -0.05 in the previous year[12] - The company reported a net loss of ¥37,776,160.64 for the current quarter, compared to a net loss of ¥30,308,926.81 in the same quarter last year, representing an increase in loss of approximately 24.4%[45] - Operating profit was recorded at -¥37,925,608.12, worsening from -¥30,732,499.62 year-over-year, indicating a decline of about 23.5%[45] - The total comprehensive loss for the quarter was -¥37,623,160.31, compared to -¥30,308,926.81 in the same quarter last year, indicating a worsening of approximately 24.1%[47] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,646,520,604.19, a decrease of 1.46% compared to the end of the previous year[12] - The company’s total current assets decreased to ¥763,842,820.88 from ¥782,560,780.66[30] - The company’s total liabilities increased significantly, with notes payable reaching ¥14,000,000.00, a 100% increase due to increased bank acceptance bills issued by subsidiaries[21] - The total assets decreased to ¥1,086,703,014.88 in Q1 2020 from ¥1,087,886,732.42 in Q4 2019[39] - The total liabilities increased to ¥1,005,750,421.36 in Q1 2020 from ¥970,214,249.29 in Q4 2019[35] - The total equity attributable to shareholders decreased to ¥312,726,731.82 in Q1 2020 from ¥337,286,095.32 in Q4 2019[35] Cash Flow - Net cash flow from operating activities increased by 47.48% to CNY 14,456,622.77 compared to the same period last year[12] - Cash inflow from operating activities for Q1 2020 was CNY 221,537,399.48, a decrease of 10.5% compared to CNY 247,639,702.66 in Q1 2019[56] - Net cash flow from operating activities increased to CNY 14,456,622.77 in Q1 2020, up from CNY 9,802,114.94 in Q1 2019, representing a growth of 47.3%[56] - Total cash outflow from operating activities decreased to CNY 207,080,776.71 in Q1 2020, down 13.0% from CNY 237,837,587.72 in Q1 2019[56] - The net increase in cash and cash equivalents for Q1 2020 was CNY -13,357,127.95, contrasting with an increase of CNY 5,122,307.04 in Q1 2019[58] - The ending balance of cash and cash equivalents for Q1 2020 was CNY 65,530,114.30, compared to CNY 51,784,428.38 in Q1 2019, reflecting a year-over-year increase of 26.6%[58] Shareholder Information - The total number of shareholders at the end of the reporting period was 17,454[18] - The largest shareholder, Beijing Jingcheng Machinery Electric Holding Co., Ltd., held 43.30% of the shares[18] Research and Development - Research and development expenses increased by 42.81% to ¥332,251.77 from ¥232,659.27 reflecting higher investment in R&D[21] - The company plans to continue enhancing its R&D efforts and expanding its market presence as part of its strategic initiatives[24] - The company plans to focus on enhancing its research and development capabilities to drive future growth and innovation[45] Government Support - Government subsidies recognized in the current period amounted to CNY 684,621.76[16] Other Financial Metrics - The company reported an investment loss of -¥3,804,035.70, a significant increase from -¥22,350.73, indicating a deterioration in investment performance[45] - The company’s financial expenses included interest expenses of ¥3,838,556.72, slightly up from ¥3,778,040.89, reflecting a marginal increase in borrowing costs[45] - The company reported a 31.39% decrease in taxes and surcharges to ¥1,176,994.93 from ¥1,715,548.86 due to a reduction in turnover tax[21] - Payments to employees decreased to CNY 42,636,541.13 in Q1 2020, down 22.2% from CNY 54,860,161.45 in Q1 2019[56]

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 ...

Financial Performance - The net profit attributable to shareholders for 2019 was -130,036,755.55 CNY, and the undistributed profit at year-end was -820,483,186.46 CNY, resulting in no profit distribution for the year [6]. - The company reported that the net profit for 2018 was also negative, indicating ongoing financial challenges [8]. - The net profit attributable to shareholders for 2019 was a loss of CNY 130,036,755.55, compared to a loss of CNY 93,936,155.30 in 2018 [25]. - The company reported a significant decrease in minority shareholders' equity impact, which was -672,363.01, reflecting changes in financial performance [30]. - The company reported a total profit decreased by approximately 34.26 million yuan compared to the same period last year, while operating revenue increased by about 74.28 million yuan [106]. - The company’s total profit decreased by approximately 34.26 million yuan compared to the same period last year, while operating revenue increased by about 74.28 million yuan [106]. - The company’s net cash flow from operating activities was approximately 85.94 million yuan, with cash inflows of about 1,024.23 million yuan and outflows of about 938.28 million yuan [109]. - The company reported a net profit attributable to ordinary shareholders of approximately -130 million RMB in 2019, compared to -93.94 million RMB in 2018 [129]. Revenue and Growth - The company's operating revenue for 2019 was CNY 1,195,847,102.19, representing a 6.62% increase compared to CNY 1,121,564,249.15 in 2018 [25]. - The domestic market revenue was RMB 653,079,470.12, showing a slight increase of 0.76%, while the international market revenue reached RMB 482,488,241.28, a growth of 15.93% [75]. - The company achieved operating revenue of approximately 1.196 billion yuan, an increase of about 6.62% year-on-year [61]. - The company actively expanded its market in the industrial gas and firefighting sectors, with significant growth in the subway and ship firefighting markets [61]. - The company plans to strengthen domestic and international market expansion in 2020, focusing on high-quality development and new profit growth points [64]. Strategic Initiatives - The company received approval from the China Securities Regulatory Commission for a non-public offering of up to 84,400,000 shares to fund projects including the intelligent CNC production line for four-type bottles and hydrogen energy product development [8]. - The company plans to utilize the proceeds from the stock issuance for debt repayment and project development, which reflects a strategic focus on financial stability and growth [8]. - The company aims to become a global leader in energy gas storage and transportation equipment manufacturing and services [59]. - The company is committed to expanding its hydrogen energy business, with a target of establishing 1,000 hydrogen stations by 2030 [100]. - The company plans to raise approximately RMB 462.28 million through a non-public issuance of shares to Beijing Jingcheng Electromechanical Holdings, with funds allocated for smart CNC production line construction and hydrogen energy product R&D [153]. Market and Product Development - The company has developed a range of products including LNG and CNG cylinders, which are now supplied to major automotive manufacturers such as Beiqi Foton and Dongfeng Motor [32]. - The company has developed advanced carbon fiber composite cylinders, which are lightweight and have high safety performance, widely used in medical and rescue applications [38]. - The company is focused on expanding its market presence through technological advancements and product diversification [32]. - The company is developing a series of aluminum-lined carbon fiber composite cylinders for hydrogen fuel vehicles, with ongoing projects for various specifications [86]. - The company has established Beijing Tianhai Hydrogen Energy Equipment Co., Ltd. to expand its hydrogen energy market, indicating a strategic focus on new energy solutions [68]. Risk Management and Compliance - The company faces risks including potential delisting due to negative net profits in 2018 and 2019, with stock trading under risk warning starting March 28, 2020 [103]. - The company has acknowledged risks from intensified market competition and the need for continuous technological innovation to maintain its competitive edge [105]. - The company maintained a cautious financial policy, focusing on risk control in investment, financing, and cash management [108]. - The company has implemented a performance evaluation and compensation system to retain talent and foster a positive corporate culture [59]. - The company has not reported any major litigation or arbitration matters during the reporting period [147]. Environmental and Social Responsibility - The company emphasized the importance of safety and environmental protection, implementing comprehensive risk identification and control measures [161]. - The company actively participated in social responsibility activities, including safety management and employee welfare initiatives [159]. - The company donated 10,000 medical masks, 100 barrels of alcohol, and 200 barrels of disinfectant to support COVID-19 prevention efforts in Hubei Province [164]. - The company conducted health screenings for 120 female employees to promote their well-being [161]. - The company invested 750,000 yuan in June 2019 to enhance environmental protection measures in its production facilities, including the installation of additional dust collection systems [175]. Corporate Governance - The company adhered to the corporate governance code and complied with the listing rules of the Shanghai Stock Exchange and Hong Kong Stock Exchange during the reporting period [158]. - The audit committee reviewed and confirmed the financial report for 2019 [158]. - The company has not engaged in any mergers or acquisitions during the reporting period [194]. - The company has not reported any changes in the controlling shareholder or actual controller during the reporting period [188]. - The company has not disclosed any employee stock ownership plans or other incentive measures during the reporting period [147].

Financial Performance - Operating revenue for the period increased by 16.26% to CNY 887,349,416.75 compared to CNY 763,276,665.20 in the same period last year[18]. - Net profit attributable to shareholders of the listed company was a loss of CNY 63,858,836.73, worsening from a loss of CNY 44,148,603.58 in the same period last year[18]. - Basic and diluted earnings per share were both CNY -0.15, compared to CNY -0.10 in the same period last year[21]. - The total net profit attributable to the parent company decreased to -63,858,836.73, a decline from -44,148,603.58 in the previous year, primarily due to a reduction in total profit[31]. - The net loss attributable to shareholders for Q3 2019 was CNY 28,284,971.02, compared to a loss of CNY 15,466,153.25 in Q3 2018, while the net loss for the first three quarters was CNY 63,858,836.73, up from CNY 44,148,603.58[60]. - The total comprehensive loss for Q3 2019 was CNY 32,673,110.48, compared to a loss of CNY 18,862,329.16 in Q3 2018, with a total comprehensive loss for the first three quarters of CNY 81,515,234.11, up from CNY 59,440,560.95[61]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,770,284,120.22, a decrease of 0.29% compared to the end of the previous year[18]. - The company's total liabilities decreased by 50.00% to 5,500,000.00, mainly due to a reduction in long-term borrowings[29]. - The company's total equity attributable to shareholders decreased to $402.84 million from $466.88 million, a decline of about 13.7%[45]. - The company's non-current assets totaled RMB 950.45 million, down from RMB 1.01 billion at the end of 2018[43]. - Total liabilities increased to $988.53 million from $912.22 million, representing an increase of approximately 8.4%[45]. - Current liabilities totaled $795.75 million, up from $728.14 million, reflecting a growth of about 9.3%[45]. Cash Flow - Net cash flow from operating activities decreased by 21.65% to CNY 46,756,410.91 from CNY 59,676,750.40 in the same period last year[18]. - The cash flow from operating activities in Q3 2019 was CNY 46,756,410.91, down from CNY 59,676,750.40 in Q3 2018, indicating a decrease of 21.7%[72]. - The cash flow from financing activities showed a net increase of 12,000,000.00 RMB, contrasting with a net outflow of 51,531,562.52 RMB in the previous year[76]. - The net cash flow from financing activities was CNY 35,232,309.89 in Q3 2019, a significant improvement from a net outflow of CNY -33,016,109.51 in Q3 2018[72]. - The net cash flow from operating activities was -17,409,504.93 RMB, compared to -4,508,790.74 RMB in the same period last year, indicating a significant decline[74]. Research and Development - Research and development expenses surged by 208.44% to 6,079,205.39, reflecting increased investment in R&D[29]. - Research and development expenses in Q3 2019 were CNY 1,590,771.16, significantly higher than CNY 484,469.62 in Q3 2018, with total R&D expenses for the first three quarters reaching CNY 6,079,205.39, compared to CNY 1,970,964.04 last year[54]. Shareholder Information - The number of shareholders reached 21,042, with the top ten shareholders holding a combined 67.73% of the shares[27]. - The company plans to issue up to 84.4 million A-shares to raise no more than RMB 462 million for projects including intelligent production lines and hydrogen energy product development[35]. - The company has received approval from the China Securities Regulatory Commission for its non-public A-share issuance[35]. Tax and Government Support - Non-operating income included government subsidies of CNY 73,739.80, with total non-operating income for the period amounting to CNY 15,976.59[23]. - The total revenue from tax refunds increased by 42.95% to 25,889,838.11, primarily driven by an increase in export tax rebates[31]. - The company received CNY 25,889,838.11 in tax refunds during Q3 2019, an increase from CNY 18,111,057.58 in Q3 2018, representing a growth of 43.1%[72].