Financial Performance - The company reported a total revenue of 1.6 billion RMB for the year 2020, representing a year-on-year increase of 15%[11]. - The net profit attributable to shareholders was 200 million RMB, an increase of 20% compared to the previous year[11]. - The company's operating revenue for 2020 was ¥824,144,800.55, representing a 23.82% increase compared to ¥665,623,667.86 in 2019[17]. - The net profit attributable to shareholders for 2020 was ¥87,094,977.10, a 3.04% increase from ¥84,527,935.04 in 2019[17]. - The total assets of the company reached 3 billion RMB, with a debt-to-equity ratio of 0.5, indicating a strong financial position[11]. - The total assets at the end of 2020 increased by 48.82% to ¥1,822,996,604.12 from ¥1,224,965,544.53 at the end of 2019[17]. - The net assets attributable to shareholders rose by 77.87% to ¥1,088,082,850.52 at the end of 2020 compared to ¥611,744,885.05 at the end of 2019[17]. - The company reported a total of ¥14,647,894.43 in government subsidies for 2020, significantly up from ¥4,934,679.89 in 2019[22]. - The asset-liability ratio stands at 40.31%, indicating a stable financial structure[90]. - The company achieved a historical high in liquid gas sales volume, supported by the establishment of operational centers in E'dong, E'xi Northwest, and Wuhan, laying a solid foundation for growth in 2021[93]. Dividend Policy - The company plans to distribute a cash dividend of 2 RMB per 10 shares, totaling 32 million RMB in dividends[6]. - In 2020, the company distributed a total cash dividend of ¥32,000,000, which accounted for 36.74% of the net profit attributable to ordinary shareholders[199]. - The cash dividend distribution will be prioritized when the company has sufficient cash flow and positive distributable profits[194]. - The company has a cash dividend policy that ensures a minimum annual cash distribution of 10% of the distributable profit for the year[198]. - The company plans to maintain a cumulative cash distribution of at least 30% of the average annual distributable profit over the last three years[198]. - The company's profit distribution plan is subject to approval by the shareholders' meeting, with a requirement for a two-thirds majority for any changes[193]. Market Expansion and Strategy - The company has outlined a future outlook with a projected revenue growth of 10-15% for 2021, driven by market expansion and new product launches[11]. - Market expansion efforts include entering two new provinces, aiming for a 5% market share increase in those regions by 2022[11]. - The company is exploring strategic acquisitions to enhance its market presence and product offerings in the specialty gas sector[11]. - The company has established a strong regional advantage in the liquid gas market, leveraging two major production bases and a logistics network, achieving absolute market dominance in Central China[69]. - The company aims to enhance its market share nationwide, providing potential profit growth points through the establishment of key industrial area layouts[172]. Research and Development - Investment in R&D increased by 30% in 2020, focusing on new gas technologies and applications[11]. - The company aims to increase R&D investment and enhance its capabilities to break the foreign gas companies' monopoly in specialty gases for fiber optics, semiconductors, and medical fields[72]. - The company has obtained 6 invention patents and 60 utility model patents, demonstrating its commitment to innovation and technology[70]. - The total R&D investment amounted to approximately ¥18.90 million in 2020, representing a 3.29% increase from 2019[122]. - The number of R&D personnel increased by 20.83% to 58, with R&D personnel accounting for 6.82% of the total workforce[122]. Operational Efficiency - The company has established multiple liquid production bases and is expanding its gas supply modes, including bottled gas and pipeline supply[27][28]. - The company utilizes an on-site gas production model, which involves significant initial investment but leads to long-term benefits through exclusive contracts with clients[32]. - The pipeline gas supply model allows the company to serve multiple users within a 20-kilometer radius from its production base, enhancing efficiency and safety[33]. - The company has developed a circular economy model that combines bulk gas supply with industrial waste gas recovery, providing additional economic benefits while reducing hazardous waste treatment costs[34]. - The company utilizes data analysis to optimize delivery routes, reducing empty return trips and improving operational efficiency for liquid gas deliveries[52]. Challenges and Risks - The company faced challenges due to the COVID-19 pandemic but managed to maintain operational stability and growth[11]. - The company’s subsidiary experienced a non-normal shutdown from February 14 to March 18 due to COVID-19, impacting its revenue by approximately ¥12.69 million, accounting for 15.4% of total revenue[101]. - The company recognizes increasing competition in the industrial gas sector and plans to enhance its competitiveness by focusing on large-scale air separation and ultra-pure gases[181]. - The company faces risks from macroeconomic fluctuations affecting product prices, necessitating close monitoring of national economic policies[177]. - The company is exposed to production cost volatility, particularly in electricity and raw material costs, which could impact operational performance if pricing adjustments are delayed[180]. Customer Relationships and Sales - The company has established long-term stable supply relationships with numerous representative enterprises across various industries, enhancing brand recognition[82]. - The company primarily employs a direct sales model for its products, with a small portion of sales through distributors targeting remote customers[47]. - The sales from the top five customers accounted for 22.03% of the total annual sales, indicating a diversified customer base[117]. - The company has implemented various management systems to control sales processes, including customer management and sales contract management[48]. Environmental and Safety Initiatives - The company is investing in projects for industrial waste gas recovery and purification, aligning with national policies on energy conservation and environmental protection[27]. - The company has implemented a logistics safety management system that includes 24-hour monitoring of transportation vehicles and gas supply facilities[54]. - The company maintained a zero safety accident record for the year, enhancing safety management systems and conducting regular safety training[94]. - The company is actively pursuing environmental impact assessments for new projects, including an approval for an electronic specialty gas project with an annual production capacity of 80,000 tons of ultra-pure ammonia and 32,000 cubic meters of high-purity hydrogen[100].

Financial Performance - Operating revenue for the period was CNY 243,541,028.65, representing a 48.96% increase year-on-year[9] - Net profit attributable to shareholders was CNY 24,663,173.88, a slight increase of 0.82% year-on-year[9] - Basic earnings per share decreased by 25.00% to CNY 0.15[9] - Diluted earnings per share also decreased by 25.00% to CNY 0.15[9] - The weighted average return on equity was 2.34%, down by 1.88% year-on-year[9] - Total operating revenue for the third quarter reached CNY 243,541,028.65, compared to CNY 163,498,214.25 in the same period last year, indicating a significant increase[52] - The company's operating revenue for Q3 2020 was CNY 111,958,254.06, an increase of 30.6% compared to CNY 85,779,365.77 in the same period last year[57] - Total operating revenue for the current period reached ¥610,861,379.31, a significant increase from ¥482,417,813.57 in the previous period, representing a growth of approximately 26.6%[61] - Net profit for the current period was ¥60,908,794.04, down from ¥64,059,890.49, which is a decline of about 4.5%[63] Assets and Liabilities - Total assets increased by 36.51% to CNY 1,672,243,751.82 compared to the end of the previous year[9] - Net assets attributable to shareholders increased by 74.36% to CNY 1,066,657,288.44 compared to the end of the previous year[9] - The company's cash and cash equivalents increased by 316.94% to ¥206.39 million as of September 30, 2020, due to net fundraising of ¥391 million from its listing on the Shenzhen Stock Exchange[18] - Accounts receivable rose by 62.37% to ¥135.83 million, attributed to increased sales revenue and delayed payments from some customers affected by the pandemic[18] - Fixed assets rose to CNY 595,840,332.80 from CNY 489,053,019.96, representing an increase of approximately 21.8%[45] - Current liabilities totaled CNY 485,744,532.06, up from CNY 439,704,916.63, marking an increase of about 10.5%[46] - The total liabilities decreased slightly to CNY 605,586,463.38 from CNY 613,220,659.48, reflecting a decrease of about 1.0%[46] - Total liabilities reached CNY 613,220,659.48, with current liabilities at CNY 439,704,916.63 and non-current liabilities at CNY 173,515,742.85[81] Cash Flow - Net cash flow from operating activities was CNY 23,587,385.53, a decrease of 0.33% compared to the same period last year[9] - Operating cash inflow for the current period reached CNY 469,480,865.39, an increase from CNY 395,992,980.96 in the previous period[69] - Net cash outflow from operating activities was CNY -41,250,880.69, compared to a net inflow of CNY 63,062,954.75 in the previous period[71] - Cash flow from investing activities showed a net outflow of CNY -172,023,229.59, worsening from CNY -71,368,348.54 in the previous period[72] - Financing activities generated a net cash inflow of CNY 390,167,919.93, significantly higher than CNY 12,819,092.18 in the previous period[72] Government Subsidies and Other Income - The company received government subsidies amounting to CNY 7,266,924.68 during the reporting period[10] - The company’s other income rose by 105.15% to ¥4.31 million, driven by increased subsidies received after going public[21] - The company received a total of government subsidies amounting to ¥8,845,117 from January 1 to July 24, 2020, which positively impacted the net profit for the year[4] Investments and Projects - The company established a new subsidiary for the electronic specialty gas industry park project with an investment of ¥28 million, expected to produce high-purity ammonia and hydrogen[25] - The investment progress for the potential annual production of 70,000 tons of food liquid nitrogen project is at 56.87% completion[34] - The investment progress for the Northwest Hubei Gas Operation Center project is at 98.40% completion[34] - The company has entrusted ¥33,929,540 in bank financial products, with an unexpired balance of ¥18,561,280[37] Financial Expenses and Earnings - The company’s financial expenses decreased by 25.65% to ¥20.05 million, due to optimized financing structure and increased interest income from idle funds[21] - The company reported a credit impairment loss of CNY -660,747.26, compared to a gain of CNY 482,029.16 in the same period last year[54] - The company incurred sales expenses of CNY 27,538,406.88, which is an increase of 47.9% from CNY 18,621,321.49 in the previous year[54] - Tax expenses for the quarter were CNY 4,718,334.96, a decrease of 2.7% from CNY 4,849,519.50 in the same period last year[54] Shareholder Information - The total number of shareholders at the end of the reporting period was 15,752[13] - The company's equity attributable to shareholders increased to CNY 1,066,657,288.44 from CNY 611,744,885.05, a growth of approximately 74.2%[47]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥367,320,350.66, representing a 15.18% increase compared to ¥318,919,599.32 in the same period last year[15]. - The net profit attributable to shareholders of the listed company decreased by 8.47% to ¥36,245,620.16 from ¥39,598,236.64 in the previous year[15]. - Basic earnings per share decreased by 30.30% to ¥0.23 from ¥0.33 in the same period last year[15]. - The weighted average return on net assets decreased to 4.38% from 7.23% in the previous year[15]. - The company reported a total revenue of 2,994,752.38 CNY, with a significant loss of -2,786,141.88 CNY attributed to non-operating expenses during the pandemic[20]. - The company’s main business revenue from gas sales reached CNY 336,454,467.60, an increase of 30.55% compared to the same period last year[76]. - The revenue from other business activities, including processing and leasing, increased by 68.26% to CNY 30,865,883.06[76]. - The company reported a net profit of CNY 1,025.47 million for the reporting period[106]. - The company reported a decrease in sales expenses to CNY 38,487,267.42 in the first half of 2020, down from CNY 41,415,869.56 in the first half of 2019[186]. Cash Flow and Assets - The net cash flow from operating activities turned negative at -¥64,838,266.22, a decline of 264.57% compared to ¥39,397,403.36 in the same period last year[15]. - Cash and cash equivalents increased by 487.37% compared to the beginning of the year, primarily due to the net proceeds from the company's listing on the Shenzhen Stock Exchange and a policy loan of 200 million yuan[53]. - The company's cash and cash equivalents increased to approximately ¥290.75 million from ¥49.50 million at the end of 2019[177]. - The ending balance of cash and cash equivalents was 280,745,541.17 CNY, up from 10,467,482.31 CNY in the previous half-year[197]. - The total assets increased by 38.24% to ¥1,693,342,655.23 from ¥1,224,965,544.53 at the end of the previous year[15]. - Accounts receivable increased by 37.05% compared to the beginning of the year, driven by increased operating revenue in the second quarter[53]. - Prepayments increased by 558.14% compared to the beginning of the year, mainly due to prepayments for medical oxygen supply in Hubei during the pandemic[54]. - Other non-current assets increased by 271.51% compared to the beginning of the year, attributed to policy loans for expanding medical oxygen production capacity[54]. Market Position and Strategy - The industrial gas market in China reached approximately 139.5 billion CNY in 2019, with an expected growth rate of over 10% in the coming years[25]. - The company holds a 70% market share in the bottled gas market within Hubei province, establishing a strong regional advantage[25]. - The company has established a circular economy supply model in three major industrial parks in Hubei, enhancing regional competitive advantages[26]. - The company’s product offerings include ordinary gases, specialty gases, and clean energy, catering to various industries such as metallurgy, chemicals, and healthcare[23]. - The company is actively expanding its logistics and distribution network, optimizing its industrial layout with new production bases[25]. - The company is implementing a five-year safety and environmental protection plan to enhance its safety management and reduce risks associated with industrial gas production[108]. - The company is actively developing new customer resources and expanding its market presence to mitigate competitive risks in the industrial gas sector[111]. Innovation and Technology - The company has obtained 6 invention patents and 48 utility model patents, showcasing its commitment to innovation[26]. - The company has successfully implemented several projects in industrial tail gas recovery, significantly reducing costs for clients and enhancing its brand reputation[26]. - The company has achieved a tail gas recovery utilization rate of 90%, making it the first and only industrial gas enterprise in China to technically realize the purification and recovery of oil-containing argon gas[42]. - The company has developed a unique circular economy supply model in industrial gas, integrating large-scale gas supply with waste gas recovery[32]. Social Responsibility and Community Engagement - The company maintained its commitment to social responsibility by ensuring the supply of medical oxygen to over 500 hospitals in Hubei during the pandemic[67]. - The company actively participates in poverty alleviation efforts, planning to donate CNY 2 million annually to charitable organizations for medical assistance and education support[143]. - The company provided medical oxygen supply to 156 public hospitals and 370 other medical institutions during the pandemic, ensuring no supply interruptions or safety incidents[145]. - The company donated 700,000 RMB in anti-epidemic funds and materials, including 216,000 RMB worth of medical oxygen and supplies to various medical institutions[145]. Risks and Challenges - The company faces various risks as detailed in the report, which investors should be aware of[5]. - The company is facing risks from macroeconomic fluctuations, which have impacted its business due to the COVID-19 pandemic, but it has managed to achieve revenue growth through market expansion[109]. - The industrial gas market is dominated by foreign companies, with domestic firms facing significant gaps in technology and R&D capabilities[52]. Corporate Governance and Structure - The company plans not to distribute cash dividends or issue bonus shares[6]. - The annual shareholders meeting had a participation rate of 75.11% on May 20, 2020[114]. - The company has no significant related party transactions during the reporting period[126]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[161].

Financial Performance - The company's operating revenue for 2019 was CNY 665,623,667.86, representing a 6.57% increase compared to CNY 624,616,617.42 in 2018[18]. - The net profit attributable to shareholders for 2019 was CNY 84,527,935.04, which is a 12.17% increase from CNY 75,359,184.84 in the previous year[18]. - The net cash flow from operating activities increased by 27.04% to CNY 95,782,300.59 in 2019, up from CNY 75,394,300.33 in 2018[18]. - The basic earnings per share for 2019 was CNY 0.70, an increase of 11.11% from CNY 0.63 in 2018[18]. - Total assets at the end of 2019 reached CNY 1,224,965,544.53, marking a 19.03% increase from CNY 1,029,163,991.55 at the end of 2018[18]. - The net assets attributable to shareholders increased by 15.89% to CNY 611,744,885.05 at the end of 2019, compared to CNY 527,849,694.97 at the end of 2018[18]. - The weighted average return on equity for 2019 was 14.83%, slightly down from 15.36% in 2018[18]. - The net profit after deducting non-recurring gains and losses was CNY 82,075,407.55, an 8.26% increase from CNY 75,813,423.49 in 2018[18]. Revenue Breakdown - Total revenue for the year was approximately ¥685 million, with quarterly revenues of ¥144.95 million, ¥173.97 million, ¥163.50 million, and ¥183.21 million respectively[22]. - Net profit attributable to shareholders for the year was approximately ¥84.53 million, with quarterly net profits of ¥17.50 million, ¥22.10 million, ¥24.46 million, and ¥20.47 million respectively[22]. - The net cash flow from operating activities for the year was approximately ¥95.78 million, with quarterly cash flows of ¥15.53 million, ¥23.87 million, ¥23.67 million, and ¥32.72 million respectively[22]. - Main business revenue from gas sales was ¥599,818,127.79, accounting for 90.11% of total revenue, with a slight increase of 1.81% from ¥589,181,823.32 in 2018[82]. - Revenue from other business activities, including processing and leasing, surged by 85.71% to ¥65,805,540.07, up from ¥35,434,794.10 in the previous year[82]. Market Position and Strategy - The company operates in the industrial gas sector, focusing on the research, production, and sales of gases such as oxygen, nitrogen, and hydrogen, with applications across various industries including metallurgy and healthcare[27]. - The company holds a 70% market share in the bottled gas market in Hubei Province, with a strong sales network covering the entire province[29]. - The industrial gas market in China reached over 130 billion RMB in 2018 and is expected to grow at a rate of over 10% annually in the coming years[29]. - The company has established a circular economy supply model in three major industrial parks in Hubei, enhancing regional competitive advantages[30]. - The company is in the process of expanding its operational layout in the potential industrial parks in Wuhan, further enhancing its market presence[30]. Research and Development - The company has obtained 5 invention patents and 47 utility model patents, contributing to its unique competitive edge in the industrial waste gas recovery sector[31]. - Research and development expenses in 2019 were 18,298,174.39, an increase of 4.01% from 2018[95]. - The number of R&D personnel increased to 48, representing 6.40% of the total workforce[99]. - The company completed seven R&D projects in 2019, focusing on energy-efficient gas recovery and purification technologies[96]. Operational Efficiency - The company has developed a comprehensive gas supply solution that integrates pipeline supply and waste gas recovery, promoting economic benefits and environmental sustainability[37]. - The company achieves a vehicle utilization rate of over 90% by adjusting delivery schedules based on customer demand and operational capacity[43]. - The logistics model for bottled gas limits the sales radius to generally within 100 kilometers due to transportation costs, while the liquid gas model can extend up to 300 kilometers[44][46]. - The company has established a mature procurement process, ensuring stable supply channels and long-term partnerships with quality suppliers[40]. Risk Management - The company has detailed the risks it faces in the "Future Development Outlook" section of the annual report[6]. - The company faces safety production risks due to the hazardous nature of industrial gas products, which could lead to significant losses in case of accidents[126]. - The company is exposed to macroeconomic fluctuations that may impact the pricing of its main products, as its customer base spans various foundational industries[128]. - The company must navigate stringent regulatory requirements for industrial gases, which could delay market entry and affect investment plans[131]. Profit Distribution Policy - The company has a profit distribution policy that emphasizes stable and active returns to investors, prioritizing cash dividends when conditions allow[143]. - The company plans to distribute at least 10% of the annual distributable profit in cash dividends, with a cumulative cash distribution of at least 30% of the average annual distributable profit over the last three years[146]. - The company has not distributed any cash dividends in the last three years, with the cash dividend ratio being 0% for 2017, 2018, and 2019[149]. - The company will consider stock dividends if it is deemed beneficial for all shareholders, ensuring sufficient cash dividends are distributed first[144]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[171]. - The company plans to expand its production capacity, particularly in liquid oxygen, nitrogen, and argon, while increasing market share in Hubei and Central China[121]. - The company is targeting the development of a 30,000 cubic meters/hour air separation project to enhance its operational scale[120]. - The company plans to leverage its existing medical oxygen service network to enter the research, production, and sales of home medical gas products to meet future health demands[123].

Financial Performance - The company's operating revenue for Q1 2020 was ¥101,466,306.28, a decrease of 30.00% compared to ¥144,946,162.70 in the same period last year[7] - Net profit attributable to shareholders was ¥10,737,342.78, down 38.65% from ¥17,500,976.72 year-on-year[7] - Basic and diluted earnings per share were both ¥0.07, representing a decrease of 53.33% from ¥0.15 in the same period last year[7] - Operating revenue decreased by 30.00% to CNY 101.47 million, primarily due to reduced sales in the industrial gas business caused by the COVID-19 pandemic[18] - The company's operating revenue for the current period is CNY 48,340,416.16, a decrease from CNY 81,314,325.06 in the previous period[52] - The net profit for the current period is CNY 4,013,609.78, compared to a net loss of CNY 162,221.41 in the previous period, indicating a significant turnaround[53] - The company reported a total comprehensive income of CNY 4,013,609.78 for the current period, compared to a total comprehensive loss of CNY 162,221.41 in the previous period[54] Cash Flow and Liquidity - The net cash flow from operating activities was -¥70,850,557.70, a decline of 556.15% compared to ¥15,532,171.73 in the previous year[7] - The cash flow from operating activities shows a net outflow of CNY 70,850,557.70, compared to a net inflow of CNY 15,532,171.73 in the previous period[57] - Cash inflow from operating activities totaled 45,954,783.40 yuan, while cash outflow reached 161,991,513.10 yuan, resulting in a net cash outflow[60] - The net increase in cash and cash equivalents was 411,033,532.59 yuan, compared to a decrease of -8,399,815.88 yuan in the previous period[61] - The ending balance of cash and cash equivalents was 427,414,104.75 yuan, significantly higher than the previous period's balance of 2,078,591.43 yuan[61] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,807,527,048.79, an increase of 47.56% from ¥1,224,965,544.53 at the end of the previous year[7] - The company's total liabilities rose to ¥791,408,958.38, compared to ¥613,220,659.48, representing an increase of about 29.2%[41] - The company's equity increased significantly, with the share capital rising to ¥160,000,000.00 from ¥120,000,000.00, a growth of 33.3%[41] - Current assets increased to CNY 1,043,659,331.78 from CNY 475,438,252.94, reflecting a growth of approximately 119%[44] Shareholder Information - The company reported a total of 22,206 common shareholders at the end of the reporting period[11] - The largest shareholder, Yang Tao, holds 20.97% of the shares, totaling 33,549,769 shares[11] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[12] Non-Operating Income and Expenses - Non-operating income included government subsidies of ¥575,904.53 and losses from non-normal work stoppages during the pandemic amounting to -¥2,044,691.37[8] - The company reported a significant increase in non-operating expenses by 584.17% to CNY 2.24 million, due to losses from non-normal operations of subsidiaries during the pandemic[18] Research and Development - Research and development expenses fell by 44.13% to CNY 1.35 million, reflecting a decrease in R&D activities due to the pandemic[18] - The company reported a decrease in research and development expenses to CNY 1,345,801.93 from CNY 2,408,817.00, a reduction of about 44%[48] Fundraising and Investments - The company received CNY 404.67 million from fundraising activities following its listing, significantly boosting its cash flow[20] - The company obtained a policy loan of CNY 200 million to expand medical oxygen production capacity, reflecting its strategic focus on healthcare during the pandemic[23] - The company has raised CNY 404,668,000.00 from new investments during the current period[58] Other Financial Metrics - The company's cash and cash equivalents increased by 800.91% to approximately CNY 445.96 million due to net fundraising of CNY 391 million from its listing on the Shenzhen Stock Exchange and receiving a policy loan of CNY 200 million[16] - Accounts receivable rose by 35.14% to CNY 113.06 million, impacted by poor sales collection during the COVID-19 pandemic and the Spring Festival holiday[16] - Prepayments surged by 533.21% to CNY 71.72 million as the company prepaid electricity and gas procurement costs to ensure medical oxygen supply during the pandemic[16]