Financial Performance - Operating income for the first nine months decreased by 17.45% to CNY 2,947,077,076.75 compared to the same period last year[19]. - Net profit attributable to shareholders of the listed company decreased by 10.24% to CNY 371,438,152.56 compared to the same period last year[19]. - The company's operating revenue and net profit decreased by 17.45% and 13.82% year-on-year, respectively, primarily due to the COVID-19 pandemic impacting production and consumption[34]. - Total operating revenue for Q3 2020 was ¥909,437,945.03, a decrease of 10.8% compared to ¥1,019,598,500.46 in Q3 2019[52]. - The net profit attributable to shareholders for Q3 2020 was ¥119,626,869.56, down from ¥124,817,605.07 in Q3 2019, representing a decline of 1.6%[59]. - The total profit for Q3 2020 was ¥142,700,659.14, compared to ¥160,570,421.75 in Q3 2019, reflecting a decrease of 11.1%[59]. - The company reported a total investment income of ¥27,443,791.46 for Q3 2020, an increase from ¥9,583,516.16 in Q3 2019[62]. - The total revenue for the period reached 10,116,300.33, with a significant increase compared to the previous period[65]. - The net profit for the period was 146,334,098.78, reflecting a growth from 104,332,712.84 in the same period last year[66]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 6,704,095,195.63, a slight increase of 0.13% compared to the end of the previous year[19]. - Total assets as of September 30, 2020, were RMB 6,704,095,195.63, compared to RMB 6,695,067,911.28 at the end of 2019[43]. - Total liabilities reached approximately ¥3.10 billion, with current liabilities at ¥2.73 billion and non-current liabilities at ¥370.44 million[79]. - Total liabilities decreased to ¥2,838,413,102.60 in Q3 2020 from ¥2,620,542,883.49 in Q3 2019, a reduction of 8.3%[51]. - The company has a total of ¥844.47 million in contract liabilities, indicating a significant amount of pre-revenue commitments[78]. - The company has long-term investments amounting to approximately $456.12 million and fixed assets valued at approximately $2.41 billion[84]. Shareholder Information - Net assets attributable to shareholders of the listed company increased by 4.64% to CNY 3,598,789,817.64 compared to the end of the previous year[19]. - The total number of shareholders at the end of the reporting period was 29,160, with the largest shareholder holding 36.90% of the shares[28]. - Shareholders' equity totaled approximately ¥3.59 billion, including paid-in capital of ¥888.89 million and retained earnings of ¥1.06 billion[79]. Cash Flow - Net cash flow from operating activities increased by 7.97% to CNY 557,978,639.61 for the first nine months compared to the same period last year[19]. - The cash flow from operating activities generated a net amount of 557,978,639.61, compared to 516,784,804.05 in the prior year[71]. - The company reported a net cash flow from investing activities of (¥155,209,267.31), compared to (¥109,153,902.52) in the previous year, indicating increased investment outflows[75]. - The ending cash and cash equivalents balance as of the end of the reporting period was ¥1,143,609,666.66, up from ¥834,797,076.49 at the end of the same period last year[75]. Operational Adjustments - The company is actively supporting the resumption of production and has adjusted prices for certain non-residential customers[34]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[62]. Research and Development - The company’s R&D expenses for Q3 2020 were ¥171,549.52, a significant decrease from ¥6,595,087.89 in Q3 2019, indicating a reduction of 97.4%[52]. - The company's R&D expenses for Q3 2020 amounted to ¥171,549.52, indicating a commitment to innovation[62].

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,037,639,131.72, a decrease of 20.10% compared to CNY 2,550,240,684.41 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 251,811,283.00, down 12.87% from CNY 289,006,883.61 in the previous year[18]. - The net cash flow from operating activities was CNY 190,437,901.56, a decline of 13.69% compared to CNY 220,632,572.53 in the same period last year[18]. - The basic earnings per share for the first half of 2020 was CNY 0.28, a decrease of 22.22% from CNY 0.36 in the same period last year[19]. - The weighted average return on net assets was 7.01%, down 5.98 percentage points from 12.99% in the previous year[19]. - The total assets at the end of the reporting period were CNY 6,556,998,188.16, a decrease of 2.06% from CNY 6,695,067,911.28 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 1.13% to CNY 3,478,048,584.86 from CNY 3,439,253,115.82 at the end of the previous year[18]. - The decline in revenue and net profit was primarily due to the impact of the COVID-19 pandemic, which led to reduced demand for industrial and commercial gas[22]. Operational Highlights - The company primarily engages in urban gas distribution and sales, with key operational areas in Chengdu and surrounding districts[30]. - The company serves over 2.9 million customers, with annual natural gas sales exceeding 1.6 billion cubic meters and a daily supply capacity of 11.3 million cubic meters[33]. - As of June 2020, the company's operational pipeline length reached 6,868 kilometers, with 1.31 million pressure regulating facilities and 3 gas stations[34]. - The company signed contracts for 27,600 residential customers and developed 397 non-residential customer projects in the first half of 2020[33]. - The company benefits from a rich natural gas resource in the Sichuan Basin, which accounted for approximately 26.8% of China's total natural gas production as of the end of 2017[34]. Research and Development - The company emphasizes research and development, successfully integrating gas pipelines with other utility lines in urban underground tunnels[34]. - Research and development expenses decreased by 40.68% to ¥8,575,509.71 from ¥14,457,363.07 in the previous year[46]. - The company focuses on remote gas meter reading technology to enhance operational efficiency and reduce costs[30]. Government Support and Community Engagement - Government subsidies recognized in the current period amounted to 2,282,260.68 thousand, closely related to the company's normal operations[26]. - The company purchased unsold agricultural products worth CNY 231,870 from Zhangbei County, Hebei Province, as part of its poverty alleviation efforts[87]. - The company plans to continue its poverty alleviation efforts by increasing financial and human resources, responding to national calls for poverty alleviation[93]. Financial Position and Investments - The company's cash and cash equivalents increased by 154.71% to ¥2,179,092,111.73, compared to ¥855,523,990.15 in the same period last year[49]. - The company has ongoing construction projects, including the Chengdu Ring Expressway natural gas high-pressure storage pipeline project with an investment of RMB 1,581.75 million, which is 66.85% complete[55]. - The company also invested RMB 4,040.70 million in the Chengdu LNG emergency peak-shaving storage and distribution facility (Phase I), which is 79.31% complete[55]. Market Challenges and Risks - The company is facing risks related to market expansion due to a slowdown in real estate development and reduced new projects in the city center[61]. - The company is actively working on expanding its business areas through acquisitions to secure gas supply rights in new regions[61]. Compliance and Governance - The company has not reported any changes in controlling shareholders or actual controllers during the reporting period[112]. - There are no significant litigation or arbitration matters during the reporting period[80]. - The company has not implemented any employee stock ownership plans or other incentive measures during the reporting period[80].

Dividend Policy - The company plans to distribute a cash dividend of 2.445 RMB per 10 shares to all shareholders, based on the total share capital at the time of distribution [6]. - The company has a cash dividend policy that mandates a minimum of 20% of distributable profits to be distributed as cash dividends, with higher percentages for mature stages without major capital expenditures [99]. - In mature stages without significant capital expenditures, the company aims for cash dividends to constitute at least 80% of the profit distribution [102]. - In 2019, the company distributed a cash dividend of 2.445 CNY per 10 shares, totaling 217,333,605.00 CNY, which accounted for 48.17% of the net profit attributable to ordinary shareholders [105]. - The cash dividend for 2018 was 1.25 CNY per 10 shares, amounting to 100,000,000.00 CNY, representing 23.40% of the net profit attributable to ordinary shareholders [105]. - The company did not propose a cash dividend plan for 2019 despite having a positive profit available for distribution to ordinary shareholders, and it is required to disclose the reasons and intended use of retained earnings [109]. - The board of directors must seek written opinions from all independent directors regarding cash dividend proposals, ensuring that minority shareholders' opinions are considered [103]. - The company must complete the distribution of dividends within two months after the shareholders' meeting approves the profit distribution plan [103]. - The profit distribution policy must comply with regulations set by the China Securities Regulatory Commission and the Shanghai Stock Exchange [104]. Financial Performance - The company's operating revenue for 2019 was CNY 4,818,531,347.5, representing an 8.80% increase compared to CNY 4,428,794,808.40 in 2018 [22]. - Net profit attributable to shareholders of the listed company reached CNY 451,161,320.70, a 5.56% increase from CNY 427,392,647.20 in the previous year [22]. - The net cash flow from operating activities was CNY 774,508,435.08, showing a significant increase of 14.38% compared to CNY 677,142,730.83 in 2018 [22]. - Total assets increased by 29.07% to CNY 6,695,067,911.28 from CNY 5,186,977,917.16 in 2018 [22]. - Basic earnings per share for 2019 was CNY 0.56, up 5.66% from CNY 0.53 in 2018 [22]. - The weighted average return on net assets decreased by 2.19 percentage points to 19.57% compared to 21.76% in 2018 [22]. - The company reported a net profit of CNY 147,851,652.22 in Q1 2019, with a total operating revenue of CNY 1,413,979,951.41 for the same quarter [26]. - Non-recurring gains and losses amounted to CNY 26,559,662.60 in 2019, compared to CNY 23,284,886.46 in 2018 [29]. Governance and Compliance - The company has received a standard unqualified audit report from Deloitte Huayong Accounting Firm [5]. - The company has maintained a consistent governance structure with all board members present at meetings [5]. - The company has appointed Deloitte Huayong as its accounting firm and CITIC Securities as its sponsor for continuous supervision [21]. - The company is committed to enhancing its governance structure and internal control systems in compliance with regulatory requirements [91]. - The board and supervisory committee must review and approve any changes to the profit distribution policy before submitting it to the shareholders' meeting for approval [104]. - The company has a long-term commitment to share repurchase and compensation obligations as stated in its IPO prospectus [111]. - The company has no reported penalties from securities regulatory agencies in the past three years [194]. Operational Highlights - The company achieved a natural gas sales volume of 1.679 billion cubic meters, representing a year-on-year growth of 5.14% [39]. - The company serves over 2.9 million customers, with a daily gas supply capacity of 11.3 million cubic meters [39]. - The company operates a pipeline network of 6,850 kilometers and has built 12,600 pressure regulating facilities [40]. - The company has established a comprehensive management system, enhancing operational efficiency and standardization in gas production and distribution [40]. - The company has developed advanced remote gas meter technology, significantly reducing the need for manual meter reading and improving operational efficiency [40]. - The company has successfully implemented various information technology systems to enhance operational efficiency and safety management [44]. - The company has expanded its LNG refueling station business and is actively promoting key projects such as the high-pressure gas pipeline project along Chengdu's ring expressway, ensuring a stable supply of clean natural gas to a broader user base [148]. Research and Development - R&D expenses increased by 29.44% to CNY 31.89 million, highlighting the company's commitment to innovation [48]. - The subsidiary Qianjia Technology holds 211 national patents and has developed multiple smart gas management systems [42]. - Research and development investments have increased by 40%, focusing on innovative gas technologies [186]. Market and Strategic Initiatives - The company aims for a revenue of 5.413 billion CNY and a net profit of 514 million CNY for 2020 [91]. - The company plans to enhance its gas supply business and expand into strategic emerging businesses such as vehicle gas and value-added services [91]. - The company will implement market integration in the Chengdu area through mergers and acquisitions to strengthen its market position [91]. - The company is focused on maintaining a strong financial position while exploring strategic growth opportunities [162]. - A strategic acquisition of a local competitor is in progress, which is expected to increase market share by 30% [186]. Community and Social Responsibility - The company provided poverty alleviation funding of CNY 50,000 to Heqiao Village in Pingquan Town, Jianyang City [132]. - A total of CNY 323,820 was spent on purchasing agricultural products from Heqiao Village for poverty alleviation efforts [132]. - The company assisted one impoverished student in Wuhou District with a scholarship of CNY 6,000 [132]. - The company invested CNY 379,820 in poverty alleviation projects, helping one registered impoverished individual to escape poverty [136]. - The company plans to continue increasing financial and human resources for poverty alleviation in response to government initiatives [137]. Employee and Management - The total remuneration for the company's directors, supervisors, and senior management during the reporting period amounted to 10.4532 million yuan (pre-tax) [191]. - The total number of employees in the parent company and major subsidiaries is 3,208, with 2,102 in the parent company and 1,106 in subsidiaries [197]. - The company adheres to a salary system based on performance, with remuneration consisting of salary, allowances, and performance bonuses [198]. - The company has implemented a 3P salary model based on position, ability, and performance [198]. - The company aims to continuously improve its salary system to motivate employees and reflect their job value [198]. Risks and Challenges - The company faces risks related to pricing, particularly due to regulatory changes that may impact installation profits and upstream price stability, potentially affecting gross margins [95]. - The company anticipates a decline in installation revenue due to reduced new projects in its operating area, influenced by slower real estate development and land supply constraints [95]. - The company is at risk of increased fixed asset depreciation if ongoing projects do not meet expected profitability levels, impacting overall earnings [95].

Financial Performance - Net profit attributable to shareholders was CNY 142,834,764.42, representing a decrease of 3.39% year-on-year[18]. - Operating revenue for the period was CNY 1,144,645,078.88, down 19.05% from the same period last year[18]. - Basic earnings per share decreased by 15.79% to CNY 0.16 from CNY 0.19 in the previous year[21]. - The company reported a decrease in net profit from non-recurring gains and losses, amounting to CNY 138,371,335.79, down 3.57% year-on-year[18]. - The company reported a net profit of CNY 998,150,307.32, up from CNY 877,798,099.58, indicating an increase of approximately 13.7%[50]. - Net profit for Q1 2020 was ¥145,627,562.35, a decline of 7% from ¥155,758,192.87 in Q1 2019[55]. Cash Flow and Liquidity - The net cash flow from operating activities was negative CNY 149,422,833.06, a significant decline compared to negative CNY 3,480,608.53 in the previous year[18]. - Cash flow from operating activities showed a significant decline of 4193.01%, resulting in a net outflow of -¥149,422,833.06 compared to -¥3,480,608.53 in the previous year[35]. - The company experienced a net decrease in cash and cash equivalents of -130,688,122.70 RMB in Q1 2020, compared to -184,882,989.29 RMB in Q1 2019[68]. - The ending balance of cash and cash equivalents was 949,979,158.55 RMB as of the end of Q1 2020, up from 662,370,039.42 RMB at the end of Q1 2019[68]. - The company reported a cash balance of RMB 1,734,460,098.01, indicating strong liquidity[83]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 6,718,216,314.01, a 0.35% increase compared to the end of the previous year[18]. - Total liabilities decreased to CNY 2,487,467,942.16 from CNY 2,620,542,883.49, a reduction of approximately 5.1%[50]. - Owner's equity increased to CNY 3,350,783,873.84 from CNY 3,230,431,666.10, reflecting a growth of about 3.7%[50]. - Accounts receivable increased by 102.27% to ¥345,255,111.28 from ¥170,692,253.78 due to delayed payments caused by the pandemic[33]. - The company’s long-term payables surged by 8812.57% to ¥35,397,160.00 from ¥397,160.00, due to the receipt of special bond funds[33]. - Total assets amounted to approximately $6.7 billion, with current assets at about $2.86 billion[80]. - Total liabilities reached approximately $3.1 billion, with current liabilities totaling around $2.73 billion[79]. Shareholder Information - The total number of shareholders at the end of the reporting period was 35,182[27]. - The largest shareholder, Chengdu Urban Construction Investment Management Group, holds 36.90% of the shares[27]. Expenses and Costs - Total operating costs for Q1 2020 were ¥985,634,482.73, down 21% from ¥1,245,069,996.62 in Q1 2019[53]. - Research and development expenses for Q1 2020 were ¥6,605,646.47, down 19% from ¥8,140,896.12 in Q1 2019[53]. - Sales expenses for Q1 2020 were ¥64,075,980.96, down 12% from ¥72,478,827.88 in Q1 2019[53]. - Management expenses for Q1 2020 were ¥39,788,259.75, a decrease of 8% compared to ¥43,308,089.53 in Q1 2019[53]. Market and Product Development - The company has not disclosed any new product developments or market expansion strategies in this report[18]. - The company is focusing on expanding its market presence and enhancing its product offerings, although specific new products or technologies were not detailed in the provided data[80]. - The company is focused on expanding its market presence and enhancing product offerings through ongoing research and development efforts[87].