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

Funding and Investment - The company plans to issue up to 84.4 million shares in a private placement, raising no more than 462 million RMB for projects including the construction of an intelligent CNC production line and hydrogen energy product development [7]. - The company has received approval from the China Securities Regulatory Commission for its private placement application, indicating progress in its funding strategy [7]. - The company is pursuing a non-public issuance of A-shares to leverage capital market advantages for new profit growth points [47]. - The company plans to raise funds through a non-public offering to support the four-type bottle project and hydrogen energy research [44]. - The company is actively pursuing the sale of its subsidiary's equity and has made adjustments to the listing conditions to attract potential buyers [36]. Financial Performance - The company reported a revenue increase of 25% year-over-year, reaching 1.2 billion RMB in the first half of 2019 [15]. - The company's operating revenue for the first half of the year reached ¥595,157,618.64, representing a 25.30% increase compared to ¥474,972,512.03 in the same period last year [24]. - The net profit attributable to shareholders was -¥35,573,865.71, worsening from -¥28,682,450.33 year-on-year [24]. - The net cash flow from operating activities decreased by 44.18%, amounting to ¥15,298,022.79 compared to ¥27,405,511.86 in the previous year [24]. - The company reported a basic earnings per share of -¥0.08, compared to -¥0.07 in the previous year [25]. - The company reported a net profit of CNY -48.53 million for the period [67]. - The net loss attributable to the parent company was approximately -726.02 million, worsening from -690.45 million in the previous period [132]. Market Strategy and Growth - The company aims to enhance its market presence through strategic partnerships and potential acquisitions in the next fiscal year [15]. - The company is exploring new market opportunities in Southeast Asia, targeting a 10% market share within the next two years [15]. - The company is focusing on the development of low-temperature storage containers and LNG refueling station equipment, indicating a strategic shift towards expanding its product offerings [32]. - The company plans to enhance its market presence through direct sales and partnerships with capable distributors to capture a larger share of the terminal market [32]. - The company is committed to becoming a global leader in energy gas storage and transportation equipment manufacturing and services, focusing on innovation and market expansion [47]. Research and Development - The company is investing in R&D for new technologies, particularly in the hydrogen energy sector, with a budget increase of 15% for the upcoming year [7]. - The company is actively developing the hydrogen energy industry, having restructured its subsidiary to focus on hydrogen energy equipment [44]. - The company has completed the research and development of a 70MPa high-pressure hydrogen storage bottle, which is currently in the third-party certification phase [44]. - Research and development expenses surged by 201.95% to ¥4,488,434.23, driven by increased investment in the 70MPa hydrogen bottle development project [50]. Operational Efficiency - The company has established a new production base for LNG and low-temperature equipment, enhancing its operational capacity [15]. - The company is enhancing its internal management and operational efficiency to adapt to market changes and improve performance [44]. - The company has allocated funds for debt repayment to improve its financial stability, with a focus on reducing liabilities by 20% [7]. Environmental Compliance - The company has established emergency response plans for radiation safety and sudden environmental pollution incidents [110]. - The company maintains compliance with environmental regulations, with all major pollutants meeting discharge standards [107]. - The company has obtained environmental impact assessment approval for the new construction project of the "Intelligent CNC Production Line for Plastic Inner Liner Fiber Winding Gas Cylinders" [110]. Shareholder and Corporate Governance - The major shareholder Beijing Jingcheng Machinery Electric Holding Co., Ltd. committed to ensuring the independence of the listed company in personnel, assets, finance, organization, and business after the completion of the major asset restructuring [85]. - The company has undertaken to compensate for any losses or expenses incurred by the listed company due to violations of commitments made by the major shareholder [85]. - The integrity status of the company and its major shareholders is reported to be good during the reporting period [92]. - The company has not suffered any losses due to creditor claims as of the disclosure date, and the major shareholder has not violated its commitments [88]. Employee and Training - The total number of employees was 1,624, with total employee compensation of CNY 74.09 million [69]. - The company has completed 108 training sessions involving 1,654 participants, with an average of 10.01 hours of training per person [71].

2019 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 2019 年第一季度报告 1 / 21 2019 年第一季度报告 í 二、 11Í 四、 | --- | |----------------| | 目录 | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 21 2019 年第一季度报告 2.1 主要财务数据 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 单位：元 币种：人民币 | --- | --- | --- | --- | --- | |-------------------------------------------------|---------- ...

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

Financial Performance - The net profit attributable to shareholders for 2018 was -93,936,155.30 CNY, with an undistributed profit at year-end of -690,446,430.91 CNY, resulting in no profit distribution for the year[6]. - The company's operating revenue for 2018 was CNY 1,121,564,249.15, a decrease of 6.81% compared to CNY 1,203,496,955.02 in 2017[22]. - The net profit attributable to shareholders for 2018 was a loss of CNY 93,936,155.30, a decline of 550.14% from a profit of CNY 20,868,364.01 in 2017[22]. - The net cash flow from operating activities for 2018 was CNY 11,215,989.36, a significant improvement from a negative cash flow of CNY 226,658,464.95 in 2017[22]. - The total assets at the end of 2018 were CNY 1,775,485,766.32, down 7.77% from CNY 1,925,062,021.12 at the end of 2017[22]. - The basic earnings per share for 2018 was -CNY 0.22, a decrease of 540.00% compared to CNY 0.05 in 2017[23]. - The weighted average return on equity for 2018 was -17.35%, a decrease of 20.96 percentage points from 3.61% in 2017[25]. - The company reported non-recurring gains of CNY 8,596,214.61 from the disposal of non-current assets in 2018[27]. - The company received government subsidies amounting to CNY 5,395,096.64 in 2018, compared to CNY 18,578,401.03 in 2017[27]. - The net profit attributable to shareholders for the fourth quarter of 2018 was a loss of CNY 49,787,551.72[26]. - The net cash flow from operating activities in the fourth quarter of 2018 was -CNY 48,460,761.04, indicating challenges in cash generation[26]. Company Structure and Governance - The company is under the control of Beijing Jingcheng Machinery Holding Co., Ltd., which holds approximately 43.30% of the shares[13]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The audit report for the financial statements was issued by Xinyong Zhonghe Accounting Firm, confirming the accuracy and completeness of the financial report[5]. - The company has not made any capital reserve transfers to increase share capital due to negative undistributed profits[6]. - The company’s registered office is located at Room 901, Building 59, East Third Ring Middle Road, Chaoyang District, Beijing[16]. - The company’s financial disclosures are published in the Shanghai Securities Journal and on the official website of the Shanghai Stock Exchange[16]. - The company has committed to maintaining independence in personnel, assets, finance, organization, and business following a major asset restructuring, ensuring no unfair benefits from related transactions[160]. - The company strictly adheres to legal and regulatory requirements in its operations and decision-making processes[150]. Market and Industry Insights - The industrial gas market is growing at a rate 2.0-2.5 times that of global GDP, with an 8% growth rate in 2018, indicating a steady expansion of market size[61]. - The domestic CNG cylinder production capacity exceeds 2 million units annually, while LNG cylinder production capacity is close to 500,000 units, leading to intense industry competition[61]. - The LNG storage tank construction market is expected to exceed RMB 180 billion in the next three years due to increasing domestic natural gas demand[61]. - Approximately 40% of China's natural gas demand is met through imports, highlighting the need for increased LNG maritime transport and related business opportunities[61]. - The global industrial gas cylinder market demand is not expected to see significant improvement in 2019 compared to 2018, with domestic industrial gas cylinders still facing overcapacity and low-price competition[115]. - The demand for high-purity gas cylinders is expected to increase due to rapid development in energy-saving, environmental protection, and new energy industries[115]. - The LNG vehicle market is anticipated to improve as international oil prices rise, with multiple factors potentially revitalizing the natural gas vehicle industry[115]. - The market for low-temperature products is projected to grow as industrial gas transportation and storage shift towards low-temperature liquid forms, driven by environmental governance and clean energy consumption trends[115]. - The LNG tank container industry is expected to experience significant growth in the coming years, providing new avenues for rapid LNG resource distribution[116]. - The hydrogen energy industry is forecasted to enter an explosive growth phase within the next three to five years, supported by national policies and the establishment of hydrogen refueling stations[117]. Research and Development - Research and development expenses increased by 11.16% to RMB 11,827,458.65, reflecting the company's commitment to innovation[79]. - The company is actively developing hydrogen energy market solutions, completing the R&D of hydrogen supply systems for commercial vehicles at 35MPa and passenger vehicles at 70MPa[70]. - The company aims to enhance its marketing strategies for hydrogen energy products and improve customer acquisition for natural gas products[2]. - The company plans to continue developing new products in the natural gas application field, including lightweight CNG cylinders and large-volume LNG insulated gas cylinders[99]. Future Plans and Strategies - The company plans to conduct a non-public issuance of A shares, which is currently uncertain and will be disclosed as progress is made[7]. - The company plans to optimize its capital structure by issuing non-public A-shares to enhance profitability and risk resistance[70]. - The company aims to improve asset quality and resource structure by consolidating resources towards high-value industries and products[72]. - The company is focused on deepening cost management and enhancing financial analysis models to monitor key financial indicators[72]. - A risk prevention system will be established to ensure compliance and monitor major risks effectively[72]. - The company plans to enhance talent acquisition and training to support high-end industry development[72]. - The company is committed to becoming a global leader in energy gas storage and transportation equipment manufacturing and services[70]. Operational Performance - The production volume of seamless steel gas cylinders was 889,752 units, with a sales volume of 953,551 units, reflecting a year-over-year sales increase of 13.3%[2]. - The total revenue for the year was 121,243,981.48 million yuan, representing a year-over-year increase of 1.95%[92]. - The inventory of seamless steel gas cylinders decreased by 39.8% year-over-year, indicating a reduction in stock levels[2]. - The cost of materials for seamless steel gas cylinders was 218,193,574.95 yuan, which constituted 61.88% of the total cost for this product line[89]. - The company experienced a 12.46% reduction in total costs compared to the previous year, with total costs amounting to 352,633,205.81 yuan[89]. - The cash flow from financing activities showed a net outflow of 27,447,642.13 yuan, indicating a higher repayment of loans compared to the previous year[100]. Related Party Transactions - The company engaged in related party transactions, with a total balance of related party debts amounting to RMB 27,696,953.95 at the end of the reporting period[189]. - The company confirmed that all related transactions were conducted under normal commercial terms and did not affect its independence[191]. Compliance and Legal Matters - The company has not reported any significant litigation or arbitration matters during the reporting period[184]. - The integrity status of the company and its controlling shareholders remained good throughout the reporting period[187]. - The company has not encountered any issues related to the occupation of funds or the progress of debt recovery during the reporting period[168].

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

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

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

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

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