Financial Performance - The company's operating revenue for 2021 was CNY 4,381,483,011, representing a 5.12% increase compared to CNY 4,167,991,295 in 2020[21] - The net profit attributable to shareholders for 2021 was CNY 488,772,864, an increase of 18.03% from CNY 414,112,317 in 2020[21] - Basic earnings per share for 2021 were CNY 0.55, up 17.02% from CNY 0.47 in 2020[22] - The weighted average return on equity increased to 13.08% in 2021, up from 11.65% in 2020, reflecting a 1.43 percentage point increase[22] - The company achieved operating revenue of CNY 4.38 billion, a year-on-year increase of 5.12%[58] - The net profit attributable to shareholders was CNY 489 million, up 18.03% compared to the previous year[58] Cash Flow and Assets - The net cash flow from operating activities increased by 34.45% to CNY 649,121,015 in 2021, primarily due to increased gas sales and pre-received comprehensive service fees[22] - The total assets at the end of 2021 were CNY 6,634,568,087, a slight decrease of 0.23% from CNY 6,649,914,191 at the end of 2020[21] - The net cash flow from investment activities was -CNY 30,273.82 million, a 65.67% decrease compared to the previous year[71] - The total assets at the end of the period were CNY 6,634,000,000, with cash and cash equivalents decreasing by 25.89% to CNY 1,383,595,823.91[75] Customer Base and Market Expansion - The company signed contracts with 56,600 residential users and developed 1,129 non-residential customers during the year, expanding its customer base significantly[33] - The company successfully completed the acquisition of effective gas-related assets from a local gas company, expanding its operational area by approximately 135 square kilometers, totaling over 1,900 square kilometers[33] - The company aims to expand its business in distributed energy, energy-saving renovations, and carbon neutrality services, positioning itself as a leading comprehensive energy service provider in China[45] - The company plans to expand its operations in the Chengdu area through mergers and acquisitions, aiming to create a unified gas supply network[95] Environmental Initiatives - The company estimated a reduction of approximately 14,000 tons of CO2 emissions per year from its clean energy projects, contributing to environmental sustainability[36] - The company established a carbon neutrality service platform and completed the certification of 22,000 tons of carbon reduction in Chengdu[36] - The company promotes a green culture by encouraging employees to save water, electricity, and paper, and has improved its office automation to reduce paper waste[149] - The company has adopted measures to reduce carbon emissions and improve its EHS management system[150] Research and Development - The company invested over 21.36 million yuan in technology innovation projects during the reporting period, completing 12 out of 20 new technology innovation projects and obtaining 13 patents[37] - R&D expenses increased by 56.94% to CNY 21.36 million, reflecting the company's commitment to innovation[59] - The company is investing 150 million CNY in R&D for new technologies aimed at improving service efficiency[120] Safety and Governance - The company has implemented a safety management strategy focusing on five key areas, enhancing its risk control capabilities following the "6.13" incident in Hubei[39] - The company has established a technology innovation and information department to support operational decision-making through scientific research and innovation[37] - The company emphasizes safety management and aims to improve its safety production levels to prevent accidents[96] - The company has not faced any penalties from securities regulatory authorities in the past three years[124] Strategic Goals and Future Outlook - The company aims for a revenue target of 4.858 billion CNY and a net profit of 521 million CNY for 2022, with significant uncertainties due to market conditions and management factors[94] - The strategic goal is to become a leading comprehensive energy service provider in China, focusing on scale, smart operations, and market recognition[90] - Future guidance includes an expected EBITDA margin of H%, reflecting improved profitability measures[117] Shareholder and Management Information - The company plans to distribute a cash dividend of CNY 3.00 per 10 shares to all shareholders[4] - The total compensation for directors and senior management was reported at 50 million CNY for the year, based on performance metrics[122] - The company has a total of 11 independent directors and supervisors, all of whom received a fixed remuneration of 0.06 million yuan each[113] Internal Controls and Compliance - The internal control audit report received a standard unqualified opinion, indicating effective internal controls[147] - The company has completed over 350 internal control system constructions, with 49 systems revised and published in 2021, indicating a robust internal control framework[144] - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for 2021[190]

Financial Performance - The company's operating revenue for Q3 2021 was ¥914,454,736.17, representing a year-on-year increase of 0.55%[9] - The net profit attributable to shareholders for the same period was ¥125,691,000.19, reflecting a growth of 5.07% compared to the previous year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥119,139,878.39, up by 5.31% year-on-year[9] - The basic earnings per share for Q3 2021 was ¥0.14, which is a 5.07% increase from the same period last year[9] - In the first three quarters of 2021, the company's operating revenue reached CNY 3,240.12 million, representing a year-on-year growth of 9.94%[26] - The net profit attributable to shareholders was CNY 445.29 million, with a year-on-year increase of 19.88%[26] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 426.57 million, up 20.04% year-on-year[26] - The company reported a total profit of ¥534,479,766.54 for the period, up from ¥443,176,509.98, reflecting an increase of approximately 20.61%[38] - Net profit attributable to shareholders of the parent company was ¥445,285,095.99, compared to ¥371,438,152.56 in the previous year, marking a growth of approximately 19.85%[38] - Basic and diluted earnings per share for the period were both ¥0.50, an increase from ¥0.42 in the same period last year[40] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥6,675,302,471.73, showing a slight increase of 0.38% from the end of the previous year[9] - The equity attributable to shareholders reached ¥3,881,399,966.40, marking a year-on-year increase of 6.64%[9] - The total current assets as of September 30, 2021, amounted to CNY 2,386.35 million, slightly up from CNY 2,384.95 million at the end of 2020[27] - The total assets as of September 30, 2021, were CNY 6,675.30 million, compared to CNY 6,649.91 million at the end of 2020[27] - The total liabilities decreased to CNY 2,692.08 million from CNY 2,910.77 million at the end of 2020[33] - Total liabilities amounted to approximately $2.91 billion, with current liabilities at $2.67 billion[52] - Non-current liabilities include long-term borrowings of approximately $8.88 million and deferred income tax liabilities of approximately $58.14 million[52] - Total equity attributable to shareholders reached approximately $3.64 billion, with retained earnings of approximately $1.21 billion[52] - The total assets and liabilities combined stand at approximately $6.65 billion[52] Cash Flow - The company reported a net cash flow from operating activities of ¥696,911,341.41 for the year-to-date, which is an increase of 24.90% compared to the same period last year[9] - Net cash flow from operating activities was CNY 696,911,341.41, an increase of 24.8% compared to CNY 557,978,639.61 in the previous period[43] - Total cash inflow from operating activities reached CNY 3,939,354,525.63, up from CNY 3,558,926,789.17, reflecting a growth of 10.7%[43] - Cash outflow for operating activities totaled CNY 3,242,443,184.22, compared to CNY 3,000,948,149.56, marking an increase of 8.0%[43] - Cash flow from investing activities showed a net outflow of CNY -272,657,101.58, slightly improved from CNY -294,149,495.21 in the previous period[43] - Cash inflow from financing activities was CNY 97,999,900.00, while cash outflow totaled CNY 460,289,398.15, resulting in a net cash flow of CNY -460,289,398.15[45] - The ending balance of cash and cash equivalents was CNY 477,735,264.32, down from CNY 1,210,128,109.97 in the previous period[45] Operational Highlights - The company achieved natural gas sales volume of 1.299 billion cubic meters, reflecting a year-on-year growth of 10.40%[26] - Revenue from comprehensive service business exceeded CNY 100 million, marking a significant year-on-year increase of 119.45%[26] - The company signed a strategic cooperation agreement with Chengdu Public Transport Group to explore energy-saving and emission-reduction paths in the transportation energy sector[26] - The company plans to establish the first "oil-gas-hydrogen-electricity-photovoltaic" integrated energy station in Chengdu[26] Research and Development - Research and development expenses increased significantly to ¥18,064,882.04, up from ¥8,747,059.23, indicating a growth of approximately 106.67%[35] Other Financial Information - Non-recurring gains and losses for Q3 2021 totaled ¥6,551,121.80, with a year-to-date total of ¥18,713,635.64[15] - The weighted average return on equity for the year-to-date was 11.91%, an increase of 1.66 percentage points compared to the same period last year[9] - The total number of ordinary shareholders at the end of the reporting period was 29,453[18] - Other comprehensive income after tax attributable to the parent company was ¥14,367,990.22, slightly down from ¥15,152,748.55 in the previous year[40] - The company paid CNY 232,926,033.33 in dividends and interest, compared to CNY 230,245,525.22 in the previous period[45] - Cash received from investment income was CNY 33,212,700.00, down from CNY 35,748,900.00, indicating a decrease of 7.1%[43] - The company has recognized a deferred revenue of approximately $117.68 million[52] - The company has a minority interest of approximately $99.26 million in total equity[52] - The company has implemented a new leasing standard effective January 1, 2021, impacting financial statement adjustments[54] - The company’s total liabilities and equity reflect a significant financial position, indicating stability and potential for future growth[52]

Financial Performance - The company's operating revenue for the first half of 2021 was CNY 2,325,665,346.30, representing a 14.14% increase compared to CNY 2,037,639,131.72 in the same period last year[25]. - The net profit attributable to shareholders for the first half of 2021 was CNY 319,594,095.80, which is a 26.92% increase from CNY 251,811,283.00 in the previous year[25]. - Basic earnings per share for the first half of 2021 were CNY 0.36, up 28.57% from CNY 0.28 in the same period last year[26]. - The weighted average return on equity increased by 1.57 percentage points to 8.58% compared to 7.01% in the previous year[26]. - The company reported a total non-recurring profit of 12,162,513.84, after accounting for minority interests and income tax effects[32]. - The company reported a comprehensive income total of ¥319,594,095.80 for the first half of 2021, contributing to the overall increase in retained earnings[150]. - The total comprehensive income for the current period is approximately 292.79 million RMB, reflecting a significant increase compared to the previous period[168]. Cash Flow and Assets - The net cash flow from operating activities increased by 85.25% to CNY 352,793,335.83, primarily due to increased gas sales and pre-receipts for gas connection projects[29]. - Cash and cash equivalents at the end of the period amounted to approximately CNY 2.16 billion, representing 31.31% of total assets, an increase of 15.70% year-on-year[57]. - The total assets at the end of the reporting period were CNY 6,899,183,975.44, reflecting a 3.75% increase from CNY 6,649,914,191.64 at the end of the previous year[25]. - The total current assets reached ¥2,686,962,138.34, up from ¥2,384,949,253.71, indicating a growth of about 12.6%[113]. - The company's cash and cash equivalents as of June 30, 2021, amounted to ¥2,160,058,283.70, an increase from ¥1,866,981,528.79 at the end of 2020[113]. Liabilities and Equity - Total liabilities increased to ¥3,053,971,731.79 from ¥2,910,769,557.30, marking a growth of around 4.91%[119]. - The total equity reached CNY 3,531,610,543.41, up from CNY 3,458,824,354.52 in the previous year, marking an increase of 2.1%[131]. - The total equity attributable to the parent company at the end of the period was 3,584,750,180.72 RMB, with a capital reserve of 1,327,920,340.88 RMB[163]. - The total owner's equity at the beginning of the year was 3,458,824,354.52 RMB[165]. Operational Highlights - The company developed 20,200 new residential users and 1,070 non-residential customer projects in the first half of 2021[39]. - The company operates a pipeline length of 7,269 kilometers and serves 3.1369 million customers, including 3.0856 million residential customers, demonstrating a significant regional market scale advantage in Chengdu[40]. - The company aims to expand its market presence by enhancing its comprehensive service and energy supply capabilities[39]. - The company is focusing on the "liquid to gas" initiative to expand its service offerings and drive growth[39]. Research and Development - Research and development expenses surged by 36.44% year-on-year, totaling approximately CNY 11.7 million, reflecting the company's commitment to innovation[49]. - The company has invested over 11 million RMB in technology innovation projects in 2021, resulting in 3 utility model patents and 1 published paper in the "Urban Gas" journal[42]. Environmental Initiatives - The company has achieved a cumulative reduction of approximately 14,000 tons of CO2 emissions per year through its clean energy projects[47]. - The company set annual energy-saving and emission reduction targets, tracking various energy consumption metrics and carbon emissions to ensure effective environmental protection measures[79]. - The company's commitment to reducing carbon emissions aligns with its strategy to promote natural gas as a low-carbon energy source[80]. Governance and Compliance - The company did not have any non-operating fund occupation by controlling shareholders or related parties[8]. - There were no significant risks or violations in decision-making procedures reported during the period[8]. - The company’s independent directors provided independent opinions on the changes in management and board members, ensuring compliance with regulations[76]. - The company has committed to avoiding competition with major shareholders and reducing related party transactions[86]. Market Risks - The company faces risks related to market expansion due to a slowdown in real estate development and reduced land supply in urban areas[68]. - Safety production risks are highlighted due to the flammable and explosive nature of natural gas, necessitating stringent safety management[68]. - The company anticipates potential risks in achieving expected returns from fundraising investment projects, particularly in the Chengdu pipeline project[68]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 27,889[98]. - The top ten shareholders hold a total of 1,446,000,000 shares, representing 83.30% of the total shares[101]. - Chengdu Urban Construction Investment Management Group Co., Ltd. is the largest shareholder with 328,000,000 shares, accounting for 36.90%[101].

Dividend Policy - The company plans to distribute a cash dividend of 2.475 CNY per 10 shares to all shareholders, based on the total share capital as of the dividend distribution implementation date[6]. - The company implemented a cash dividend policy, distributing at least 20% of the distributable profits as cash dividends annually[100]. - In 2020, the cash dividend amount was CNY 220,000,275, representing 53.13% of the net profit attributable to ordinary shareholders[106]. - The cash dividend for 2019 was CNY 217,333,605, accounting for 48.17% of the net profit attributable to ordinary shareholders[106]. - The cash dividend for 2018 was CNY 100,000,000, which was 23.4% of the net profit attributable to ordinary shareholders[106]. - The company prioritizes cash dividends over stock dividends, with a preference for cash distribution when conditions are met[100]. - The board of directors must consider the opinions of independent directors and public investors when making decisions on profit distribution[100]. - The company has a policy to review the shareholder return plan at least every three years[103]. - The company must provide a detailed explanation if it does not propose a cash dividend despite having positive distributable profits[106]. - The company’s profit distribution plan requires approval from the shareholders' meeting after being reviewed by the board of directors[103]. - The company can adjust its profit distribution policy based on significant changes in the external operating environment or its own operational status[103]. Financial Performance - The company's operating revenue for 2020 was approximately ¥4.17 billion, a decrease of 13.50% compared to ¥4.82 billion in 2019[22]. - Net profit attributable to shareholders for 2020 was approximately ¥414.11 million, down 8.21% from ¥451.16 million in 2019[22]. - The net cash flow from operating activities decreased by 37.66% to approximately ¥482.80 million, primarily due to a decline in revenue caused by the pandemic[25]. - Basic earnings per share for 2020 were ¥0.47, a decrease of 16.07% from ¥0.56 in 2019[22]. - The weighted average return on equity for 2020 was 11.65%, down 7.92 percentage points from 19.57% in 2019[22]. - Total assets at the end of 2020 were approximately ¥6.65 billion, a slight decrease of 0.67% from ¥6.70 billion at the end of 2019[22]. - The net assets attributable to shareholders increased by 5.83% to approximately ¥3.64 billion at the end of 2020, compared to ¥3.44 billion at the end of 2019[22]. - The company reported a net profit of approximately ¥142.83 million in Q1 2020, with a significant drop in cash flow from operating activities to -¥149.42 million[27]. - The total non-recurring gains and losses for 2020 amounted to approximately ¥33.18 million, compared to ¥26.56 million in 2019[32]. - The company experienced a decline in diluted earnings per share, which was also ¥0.47 for 2020, reflecting a 16.07% decrease from the previous year[22]. Governance and Compliance - The company received a standard unqualified audit report from Deloitte Huayong Accounting Firm[5]. - The company has not reported any major changes in its financial reporting or governance structure that would affect the accuracy and completeness of the annual report[8]. - The company’s financial report is confirmed to be true, accurate, and complete by the responsible executives[5]. - The company’s board of directors and supervisory board members were present at the board meeting, ensuring governance compliance[5]. - The company has not encountered any non-standard audit opinions during the reporting period, indicating a clean audit status[115]. - The company has not reported any funds being occupied or overdue receivables during the reporting period, reflecting good financial management[115]. - The company has no significant changes in accounting policies or estimates that impact net profit, shareholder equity, or cash flow[118]. - The independent directors did not raise any objections to company matters during the reporting period[197]. - There are no significant differences between the company's governance and the requirements of the China Securities Regulatory Commission[191]. Market and Operational Strategy - The company operates in urban gas distribution and sales, with a focus on natural gas supply and installation services in Chengdu and surrounding areas, serving over 3 million customers and selling approximately 1.6 billion cubic meters of natural gas annually[41]. - The company has secured exclusive operating rights in a 500 square kilometer area in downtown Chengdu and nearly 800 square kilometers in surrounding counties, with a pipeline length of 7,155 kilometers and 1.33 million pressure regulating facilities[42]. - In 2020, the company signed contracts for 58,500 residential users and developed 1,248 non-residential customer projects, indicating a strong market expansion strategy[41]. - The company benefits from a rich natural gas resource base in the Sichuan Basin, which produced approximately 56.5 billion cubic meters of natural gas in 2020, accounting for 52% of the national increase[42]. - The company has a competitive edge due to its established infrastructure and experience in urban gas management, having participated in drafting several urban gas regulations[41]. - The company’s gas pricing is regulated by local government price supervision departments, ensuring stable revenue streams from gas sales[40]. - The company has developed advanced remote metering technology, significantly reducing operational costs and improving efficiency by minimizing the need for manual meter reading[39]. - The company is actively involved in the development of gas industry management software, enhancing operational capabilities and customer service[41]. - The company’s market growth is driven by urbanization, economic development, and the increasing adoption of clean energy sources[41]. - The company has a daily gas supply capacity of 11.3 million cubic meters, positioning it as a key player in the regional gas supply market[41]. Future Outlook and Strategic Goals - The company aims to achieve an annual natural gas production of 50 billion cubic meters by 2025 and 80 billion cubic meters by 2030, positioning itself as the largest natural gas producer in China[45]. - The Chengdu government plans to increase the natural gas penetration rate, with all towns and eligible rural communities connected to pipeline gas by the end of the 13th Five-Year Plan[45]. - The company has established a comprehensive refined management system, achieving high levels of management efficiency and execution capability, with standardized management practices leading the industry[45]. - The company aims to enhance its core business in gas project investment and sales, focusing on safety management and technological innovation[90]. - The natural gas industry in China is expected to see significant growth, with production projected to reach 250 billion cubic meters by 2025[89]. - The company plans to explore potential upstream and downstream business opportunities within the energy sector[90]. - The shift towards clean energy is accelerating, with natural gas being a key component in reducing carbon emissions and improving energy structure[89]. - The company is committed to providing safe, stable, and clean energy while enhancing operational efficiency and customer satisfaction[92]. - The strategic goal is to achieve scale leadership and market recognition through collaborative efforts across different business units[90]. - The company aims for a revenue target of CNY 4.804 billion and a net profit target of CNY 502 million for 2021[93]. Research and Development - The company’s R&D expenses decreased by 57.32% to CNY 13.61 million, indicating a focus on cost management[53]. - Total research and development expenses amounted to ¥13,609,360.35, representing 0.33% of operating revenue, with 10 R&D personnel, making up 0.37% of total staff[64]. - The company is investing 50 million in R&D for new technologies aimed at improving service delivery and customer satisfaction[169]. Social Responsibility and Community Engagement - The company has actively engaged in poverty alleviation, purchasing unsold agricultural products worth CNY 231,870 from Zhangbei County and CNY 159,120 from Fengjie County[131]. - The company provided CNY 50,000 in poverty alleviation funds to Heqiao Village in Jianyang City[131]. - The company plans to continue its poverty alleviation efforts, responding to national calls and overcoming challenges posed by the COVID-19 pandemic[132]. - The company has established annual energy-saving and emission reduction targets, tracking energy consumption and CO2 emissions related to the gas industry[136]. Employee Management and Development - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 10.5284 million yuan (pre-tax)[178]. - The number of employees in the parent company is 1,999, while the total number of employees in the parent company and major subsidiaries is 2,566[183]. - The company emphasizes employee training and development, establishing a comprehensive training system for different employee categories[185]. - The company has implemented a performance-based salary system, with employee remuneration consisting of salary, allowances, and performance bonuses[184]. - The company has established a backup talent cultivation mechanism to build a high-quality talent pool[185]. Risk Management - The company acknowledges risks related to pricing, market expansion, and safety production, which could impact profitability[96]. - The company is concerned about potential declines in installation revenue due to reduced new projects in its operating area[97]. - The company faces risks from fixed asset depreciation and the actual returns from fundraising projects not meeting expectations[97].

2021 年第一季度报告 公司代码：603053 公司简称：成都燃气 成都燃气集团股份有限公司 2021 年第一季度报告 1 / 24 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 24 2021 年第一季度报告 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 公司负责人罗龙、主管会计工作负责人冯玲及会计机构负责人（会计主管人员）宋雪雪保证 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。 3 / 24 2021 年第一季度报告 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | --- | |--------------------------------------------- ...

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].