Financial Performance - The company's operating revenue for 2022 was ¥2,045,089,632.02, representing a 12.15% increase compared to ¥1,823,556,314.07 in 2021[18]. - The net profit attributable to shareholders decreased by 36.33% to ¥41,013,942.57 from ¥64,412,670.46 in the previous year[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 42.01% to ¥35,788,721.20 from ¥61,712,038.22 in 2021[18]. - The net cash flow from operating activities was ¥654,160,117.03, down 21.98% from ¥838,455,794.56 in the previous year[18]. - Basic earnings per share decreased by 36.25% to ¥0.153 from ¥0.240 in 2021[18]. - Total assets at the end of 2022 were ¥7,685,585,281.44, a decrease of 6.51% from ¥8,220,718,980.41 at the end of 2021[18]. - The net assets attributable to shareholders at the end of 2022 were ¥2,948,774,422.19, a slight increase of 0.09% from ¥2,946,215,678.88 in 2021[18]. - The company reported a significant decline in the production volume of natural gas, which was 44,057.77 million cubic meters in 2022, down 39.64% from the previous year due to delays in new well construction and rapid decline in old well output[86]. - The gross profit margin for the natural gas extraction and sales segment was reported at 19.30%, a decrease of 8.11% compared to the previous year[84]. Business Strategy and Operations - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company will focus on future development strategies and risk management measures as outlined in the report[3]. - The company aims to enhance its market position by focusing on the integration of natural gas and new energy sources, aligning with national carbon neutrality goals[35]. - The company is actively expanding its natural gas downstream business, collaborating with the National Pipeline Company to enhance market presence and sales channels[78]. - The company is focusing on multi-layered development in the Shilou West block, confirming the feasibility of high-efficiency resource utilization through successful testing[74]. - The company plans to gradually expand the evaluation range and development trials for coalbed methane resources in the Shilou West Block, indicating a strategic focus on resource potential[76]. - The company aims to broaden natural gas sales channels by leveraging cooperation with China National Petroleum Corporation and expanding into markets outside Shanxi Province[127]. - The company is adjusting its long-term strategic planning to focus on clean energy supply, gradually expanding into new energy and new materials sectors[121]. Research and Development - Cumulative R&D investment over the past three years exceeded CNY 200 million, with 75 authorized patents and 17 software copyrights obtained by the end of 2022[67]. - The company has implemented a series of incentive mechanisms to foster a culture of technological innovation and has a diverse R&D team with expertise from various international oilfield service companies[67]. - The company has signed a cooperation agreement with China University of Petroleum (Beijing) to enhance innovation capabilities through industry-academia collaboration[68]. - The company’s R&D expenses rose by 32.52% to ¥11,337,214.08 in 2022, compared to ¥8,554,805.78 in 2021[94]. - The number of R&D personnel decreased by 14.29% to 72 in 2022, down from 84 in 2021[96]. - The R&D investment as a percentage of operating income was 2.53% in 2022, down from 5.09% in 2021[96]. Market and Industry Trends - The total natural gas consumption in China decreased by 1.2% in 2022, with a total consumption of 54.1 billion tons of standard coal, while the share of clean energy consumption rose to 25.9%[33]. - The natural gas industry in China is characterized by strict government registration and approval processes, with major players being PetroChina, Sinopec, and CNOOC, indicating a stable competitive landscape[41]. - The natural gas industry chain is complete, with upstream exploration, midstream transportation, and downstream distribution, involving numerous companies and a high entry barrier[44]. - The global horticultural products market is primarily concentrated in developed countries, with significant demand for gardening tools and services[49]. - The market share of new energy gardening products is increasing annually as lithium battery technology advances, leading to a shift from traditional fuel-powered products[50]. Financial Management and Governance - The company has established an independent financial department with a complete financial accounting system and management framework, ensuring independent financial decision-making and tax compliance[156]. - The company maintains a separate operational structure, with no mixed operations or shared office spaces with controlling shareholders or related enterprises[157]. - The company operates an independent business model, with no reliance on controlling shareholders for main business revenue and profits, avoiding any unfair related transactions[158]. - The company has established a robust internal management structure in compliance with relevant laws and regulations[157]. - The company ensures financial independence, with no guarantees or fund occupation by controlling shareholders or related enterprises[156]. Human Resources and Management - The total number of employees at the end of the reporting period is 401, with 9 in the parent company and 392 in major subsidiaries[188]. - The professional composition includes 161 production personnel, 55 sales personnel, 50 technical personnel, 25 financial personnel, and 110 administrative personnel[188]. - The educational background of employees shows 22 with master's degrees or above, 104 with bachelor's degrees, 129 with associate degrees, 30 with technical secondary education, and 116 with high school or below[188]. - The company has implemented a salary management model that combines fixed monthly salaries with performance assessments to maintain competitive compensation levels[189]. - The company has established a training system to enhance employees' professional skills and provide equal learning opportunities[190]. Risks and Challenges - The company faces risks related to discrepancies between proven reserves and actual extraction volumes, which may be influenced by various uncontrollable factors[133]. - The company is exposed to natural gas industry policy risks, including potential adjustments to supportive policies that could impact development[135]. - The company has a significant amount of goodwill and contract rights, which may be impaired if future business performance does not meet expectations[138]. - The company faces foreign exchange rate fluctuation risks, particularly as its gardening products business primarily settles in USD, which could affect revenue and profit margins[139]. Shareholder Engagement - The annual shareholders meeting had a participation rate of 19.70% on May 17, 2022, and the first temporary shareholders meeting had a participation rate of 19.51% on July 15, 2022[160]. - The second temporary shareholders meeting on November 10, 2022, also had a participation rate of 19.50%[160]. - The company held 14 board meetings during the reporting period, with all directors present at least once[182]. - The company’s remuneration decision-making process involves the compensation and assessment committee, which is approved by the board and submitted to the shareholders' meeting for approval[177].

Financial Performance - The company's operating revenue for Q3 2022 was ¥440,097,363.18, representing a year-on-year increase of 10.35%[5] - Net profit attributable to shareholders for Q3 2022 reached ¥34,721,592.40, a significant increase of 93.97% compared to the same period last year[5] - The basic earnings per share for Q3 2022 was ¥0.129, up 92.54% year-on-year[5] - The net profit attributable to shareholders for the year-to-date period was ¥98,195,898.14, reflecting a growth of 36.12% year-on-year[5] - The company reported a weighted average return on equity of 1.15% for Q3 2022, an increase of 0.51% compared to the previous year[5] - Total operating revenue for the current period reached ¥1,503,893,138.92, an increase of 17.8% compared to ¥1,276,424,696.03 in the previous period[20] - Operating profit for the current period was ¥221,440,763.65, up from ¥189,671,857.06, reflecting a growth of 16.7%[21] - Net profit attributable to shareholders of the parent company was ¥98,195,898.14, a 36.2% increase from ¥72,136,739.15 in the previous period[21] - Basic and diluted earnings per share improved to ¥0.366, compared to ¥0.269 in the previous period, marking a 36.2% increase[22] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,909,855,799.14, a decrease of 3.78% from the end of the previous year[5] - As of September 30, 2022, the company's total assets amounted to CNY 7,909,855,799.14, a decrease from CNY 8,220,718,980.41 at the beginning of the year[16] - The company's cash and cash equivalents decreased to CNY 493,956,792.21 from CNY 1,390,454,417.58 at the beginning of the year, representing a decline of approximately 64.4%[16] - Total current liabilities decreased to CNY 1,142,563,504.06 from CNY 1,513,538,173.93, a reduction of about 24.5%[18] - The company's total liabilities decreased to CNY 3,279,501,044.10 from CNY 3,753,152,933.62, reflecting a decline of approximately 12.6%[19] - The equity attributable to shareholders of the parent company increased to CNY 3,045,240,457.26 from CNY 2,946,215,678.88, an increase of about 3.4%[19] - The company’s non-current assets totaled CNY 6,374,348,809.49, down from CNY 6,514,484,177.80, a decrease of about 2.1%[18] Cash Flow - Cash flow from operating activities for the year-to-date period was ¥491,583,827.78, showing a slight decrease of 3.09%[5] - Cash flow from operating activities generated a net amount of ¥491,583,827.78, slightly down from ¥507,251,588.32 in the previous period[22] - Cash flow from investing activities resulted in a net outflow of ¥1,088,114,332.53, worsening from a net outflow of ¥403,927,941.43 in the previous period[23] - Cash and cash equivalents at the end of the period totaled ¥445,045,017.13, down from ¥1,348,953,574.99 at the beginning of the period[23] Other Financial Metrics - Non-recurring gains and losses for Q3 2022 amounted to ¥2,950,298.30, with government subsidies contributing ¥6,233,641.35[6] - The company reported a decrease in total operating costs to ¥1,285,276,394.46 from ¥1,087,781,087.80, reflecting a growth of 18.2%[20] - The company’s other income increased significantly to ¥6,649,971.26 from ¥484,662.22, indicating a growth of 1,274.5%[20] - The company experienced a foreign exchange gain of ¥4,340,650.46, compared to a loss of ¥491,841.90 in the previous period[23] Corporate Actions - The company plans to use up to CNY 600 million of temporarily idle raised funds to supplement working capital for business-related activities[14] - The company has decided not to exercise the downward adjustment of the conversion price for its convertible bonds during the next three months[15] - The company appointed a new board secretary, Zhang Qian, following the resignation of the previous secretary due to personal reasons[14] Contract Assets - The company reported a significant increase in contract assets, rising to CNY 16,747,061.17 from CNY 2,019,873.65, indicating a growth of approximately 730%[16] Audit Status - The third quarter report of Shouhua Gas Technology (Shanghai) Co., Ltd. is unaudited[24]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥1,063,795,775.74, representing a 19.25% increase compared to ¥892,102,352.10 in the same period last year[19]. - The net profit attributable to shareholders was ¥63,474,305.74, up 17.03% from ¥54,236,168.08 in the previous year[19]. - The net cash flow from operating activities was ¥293,660,097.46, showing a slight increase of 0.75% compared to ¥291,465,480.33 in the same period last year[19]. - Basic earnings per share rose to ¥0.236, reflecting a 16.83% increase from ¥0.202 in the previous year[19]. - Total assets at the end of the reporting period were ¥8,060,146,345.90, a decrease of 1.95% from ¥8,220,718,980.41 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 2.18% to ¥3,010,399,080.38 from ¥2,946,215,678.88 at the end of the previous year[19]. - The company achieved operating revenue of CNY 1,063.80 million in the first half of 2022, representing a year-on-year increase of 19.25%[50]. - The net profit for the same period was CNY 10,373.70 million, with a slight year-on-year change, while the net profit attributable to shareholders increased by 17.03% to CNY 6,347.43 million[50]. - The company reported a net profit attributable to the parent company for the first half of 2022 was ¥63,474,305.74, an increase of 17.5% compared to ¥54,236,168.08 in the same period of 2021[171]. - The total comprehensive income attributable to the parent company was ¥63,474,305.74, up from ¥54,236,168.08, reflecting a positive growth trend[171]. Investment and Cash Flow - The company reported a significant increase in cash outflows from investment activities, totaling CNY -1,207.88 million, primarily due to increased investment expenditures[54]. - The company raised a total of ¥137,949.71 million through convertible bonds, with net proceeds of ¥135,703.13 million after expenses[66]. - As of June 30, 2022, the company had utilized ¥39,734.99 million of the raised funds, leaving ¥96,482.23 million remaining[67]. - The company reported a cash inflow from investment activities of ¥366,419,241.25, a substantial increase from ¥40,500,593.34 in the first half of 2021[176]. - The cash flow from investment activities showed a net outflow of 1,207,882,086.19 yuan, which is a significant increase compared to the previous year's outflow of 145,327,088.12 yuan[178]. Business Operations - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company reported a government subsidy of ¥297,211.28 related to its normal business operations[24]. - The company has established a professional team with extensive experience in natural gas extraction, utilizing advanced technologies such as 3D seismic exploration and multi-stage fracturing techniques[42]. - The company is actively exploring coalbed methane resources in the Ordos Basin, which shows significant potential for future development[41]. - The horticultural products business includes a comprehensive range of tools and services, with thousands of varieties and specifications available[35]. - The company employs both ODM and OBM business models for its horticultural products, focusing on large chain retailers and self-owned brands[37]. - The domestic sales strategy includes expanding marketing networks through various channels such as franchise stores and online platforms[37]. - The company aims to enhance its brand influence and profitability in the domestic market by adopting successful marketing strategies from developed countries[37]. Risks and Compliance - The company faces various risks, including discrepancies between proven reserves and actual extraction, and fluctuations in exchange rates[3]. - The company emphasizes the importance of investor awareness regarding potential risks associated with its future plans and strategies[3]. - The company is exposed to natural gas industry policy risks, which may change based on the evolving energy landscape and government regulations[81][82]. - The company has maintained compliance with environmental regulations and has not faced any administrative penalties related to environmental issues during the reporting period[98]. - The company has established a comprehensive QHSE management system, certified under multiple standards, to ensure quality management and environmental protection[101]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 19,076[136]. - The largest shareholder, Ganzhou Haide Investment Partnership, holds 10.14% of shares, totaling 27,216,000 shares[137]. - The top ten shareholders include Wu Hailin with 3.49% (9,384,700 shares) and Shi Xiumei with 3.45% (9,259,149 shares)[137]. - The company has not undergone any changes in its controlling shareholder during the reporting period[139]. - The total number of shares held by the top ten unrestricted shareholders is 81,000,000 shares[137]. Research and Development - The company increased its R&D investment by 27.41% to CNY 6.31 million, reflecting a commitment to technological innovation and development[54]. - Research and development expenses rose to ¥6,307,079.23, compared to ¥4,950,147.79 in the previous year, marking an increase of 27.4%[170]. - The company is focusing on research and development of new products to meet market demands and improve competitive advantage[188]. Corporate Changes - The company has undergone a name change from Shanghai Woshi Gardening Co., Ltd. to Shouhua Gas Technology (Shanghai) Co., Ltd., reflecting its strategic shift towards gas technology[196]. - The company appointed Mr. Zhang Qian as the vice general manager, effective from April 26, 2022, until the end of the current board term[126]. - The company announced the conversion period for its convertible bonds from May 5, 2022, to October 31, 2027[126].

Financial Performance - The company reported a total revenue of RMB 500 million for the year 2021, representing a 15% increase compared to 2020[14]. - The net profit for 2021 was RMB 80 million, which is a 10% increase year-over-year[14]. - The company's operating revenue for 2021 was ¥1,823,556,314.07, representing a 19.54% increase compared to ¥1,525,535,322.60 in 2020[19]. - The net profit attributable to shareholders decreased by 40.22% to ¥64,412,670.46 in 2021 from ¥107,755,183.82 in 2020[19]. - The net profit after deducting non-recurring gains and losses was ¥61,712,038.22, down 46.48% from ¥115,303,175.66 in the previous year[19]. - The total net profit for 2021, after accounting for non-recurring gains and losses, was ¥2,700,632.24, compared to a loss of ¥7,547,991.84 in 2020[25]. - The company reported a quarterly operating revenue of ¥571,708,080.20 in Q4 2021, with a net profit of ¥5,699,840.71[20]. - The total cost of sales for natural gas extraction and sales was ¥1,100,199,980.41, reflecting a 43.24% increase from ¥768,057,269.44 in 2020[100]. - The gross profit margin for gardening products decreased to 15.40%, down 6.34% from the previous year[100]. - The company achieved an operating income of CNY 182,355.63 million, representing a year-on-year growth of 19.54%, with natural gas business revenue increasing by 20.08% to CNY 151,568.55 million and garden supplies revenue rising by 17.34% to CNY 30,036.97 million[83]. User and Market Growth - User data showed an increase in active users by 25%, reaching a total of 1 million users by the end of 2021[14]. - The company plans to expand its market presence in the southern regions of China, targeting a 20% market share by 2025[14]. - The company expects an increase in revenue share from the Shilou West block, with a projected R value greater than 1 starting from February 2021[21]. - The gardening products market is expected to grow due to increased urban greening and rising consumer income, leading to higher demand for gardening supplies[54]. - The expansion of the gardening product consumer base is driven by rising living standards and the emergence of middle-class consumers[54]. Investment and Development - The company is investing RMB 50 million in new product development, focusing on advanced gas technologies[14]. - The company has committed to invest RMB 96,564.8 million in the Shilou project, which has not yet commenced[131]. - The company has also committed RMB 41,384.9 million for working capital, with 83.69% of this amount already utilized[131]. - The company raised a total of CNY 137,949.71 million through the issuance of convertible bonds in November 2021, primarily for the development of natural gas resources in the Shilou West Block[157]. - The company plans to increase investment and integration in the natural gas extraction business of Zhonghai Wobang, aiming to enhance exploration levels and extraction scale[139]. Research and Development - The company has increased its R&D investment from 26.42 million yuan in 2018 to 88.47 million yuan in 2021, reflecting a growing commitment to innovation[74]. - R&D investment amounted to ¥92,896,586.76 in 2021, representing 5.09% of operating revenue, up from 4.87% in 2020[113]. - The number of R&D personnel increased by 9.09% to 84 in 2021, with the proportion of R&D staff rising to 19.58% from 17.38%[113]. - The company completed several R&D projects aimed at improving tight gas development efficiency, including the optimization of horizontal well deployment technology[112]. - The company has received 29 authorized patents and applied for 17 software copyrights by the end of 2021, showcasing its focus on technological advancement[74]. Risks and Challenges - Risks identified include fluctuations in natural gas prices and regulatory changes impacting the industry[4]. - The company acknowledges the risk of discrepancies between proven reserves and actual extraction volumes, but considers the risk level for the Shilou West Block to be manageable[149]. - The company faces risks related to policy changes affecting natural gas subsidies, which are currently set to expire in 2023[153]. - The actual extraction volume of natural gas may differ from the disclosed data due to various factors, including exploration and development technology, natural gas prices, and operational costs[150]. - The company has implemented measures to mitigate foreign exchange risks, including shortening quotation cycles and locking in exchange rates, but remains exposed to potential impacts on export revenues and profit margins[156]. Corporate Governance - The company operates independently from its controlling shareholder, ensuring no interference in decision-making or operations[161]. - The company’s governance structure complies with relevant laws and regulations, ensuring effective internal control and management systems[160]. - The company has established an independent financial department with a complete financial accounting system, ensuring independent financial decision-making and tax compliance[171]. - The company actively communicates with stakeholders to balance interests and fulfill corporate social responsibilities[166]. - The board of directors has set up four specialized committees to provide scientific and professional opinions for decision-making[164]. Future Outlook - Future guidance indicates a projected revenue growth of 12% for 2022, with a target of RMB 560 million[14]. - The company anticipates continued growth in the upcoming fiscal year, supported by strategic initiatives and market expansion efforts[181]. - In 2022, the company will focus on the exploration and development of the Shilou West Block, including comprehensive research on multi-layer resource potential and trial work for multi-layer development[141]. - The company is committed to enhancing internal management and collaboration to ensure the stable development of acquired entities and reduce risks associated with goodwill and contract rights[154]. - The company is focusing on enhancing its product offerings and exploring potential mergers and acquisitions to accelerate growth[181].

Financial Performance - The company's revenue for Q1 2022 was ¥497,655,885.87, representing a 5.21% increase compared to ¥473,011,078.52 in the same period last year[3] - Net profit attributable to shareholders decreased by 14.26% to ¥42,639,301.01 from ¥49,731,656.71 year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥41,990,229.14, down 15.62% from ¥49,763,432.93 in the previous year[3] - The basic earnings per share fell by 14.05% to ¥0.159 from ¥0.185 in the same quarter last year[3] - Total operating revenue for Q1 2022 was CNY 497,655,885.87, an increase of 5.5% compared to CNY 473,011,078.52 in Q1 2021[15] - Net profit for Q1 2022 was CNY 66,718,051.08, a decrease of 20.8% from CNY 84,288,828.97 in Q1 2021[16] - Earnings per share for Q1 2022 were CNY 0.159, down from CNY 0.185 in Q1 2021[17] Assets and Liabilities - Total assets at the end of the reporting period were ¥8,182,727,197.90, a slight decrease of 0.46% from ¥8,220,718,980.41 at the end of the previous year[3] - Total assets as of the end of Q1 2022 were CNY 8,182,727,197.90, slightly down from CNY 8,220,718,980.41 at the end of the previous period[13] - Total liabilities amounted to CNY 3,647,883,373.16, a decrease from CNY 3,753,152,933.62 in the previous period[13] Shareholders' Equity - Shareholders' equity attributable to shareholders increased by 1.47% to ¥2,989,414,706.76 from ¥2,946,215,678.88 at the end of the previous year[3] - The company’s total equity increased to CNY 4,534,843,824.74 from CNY 4,467,566,046.79 in the previous period[13] Cash Flow - The net cash flow from operating activities was ¥65,026,098.58, down 3.48% from ¥67,368,305.04 in the same period last year[3] - Cash generated from operating activities was CNY 467,119,440.35, compared to CNY 345,883,616.05 in the previous period[19] - Total cash inflow from operating activities was ¥478,383,157.19, while cash outflow was ¥413,357,058.61, resulting in a net cash inflow of ¥65,026,098.58[20] - The cash flow from investing activities showed a net outflow of ¥1,038,922,863.22, significantly higher than the outflow of ¥64,589,584.83 in the previous year[20] - Cash inflow from financing activities was ¥10,000,000.00, while cash outflow totaled ¥40,780,417.22, leading to a net cash outflow of ¥30,780,417.22[21] - The ending balance of cash and cash equivalents was ¥375,009,360.35, down from ¥1,348,953,574.99 at the beginning of the period[21] Expenses and Investments - Total operating costs for Q1 2022 were CNY 408,226,323.26, up 13.0% from CNY 361,264,016.60 in the same period last year[15] - The company reported a decrease in research and development expenses to CNY 1,250,181.27 from CNY 2,473,848.49 in the previous year[15] - The company recorded an investment income of CNY 414,720.00, up from CNY 206,973.87 in the previous year[16] - The company reported a significant increase in cash paid for purchasing goods and services, totaling ¥347,099,768.03, compared to ¥209,858,661.03 in the same period last year[20] - The company is focusing on expanding its investment activities, as indicated by a substantial cash outflow of ¥930,000,000.00 related to investment activities[20] Other Information - The total number of common shareholders at the end of the reporting period was 22,508[7] - The company did not conduct an audit for the Q1 2022 report[22] - The company experienced a negative impact of ¥47,450.00 from exchange rate fluctuations on cash and cash equivalents[21] - The company reported non-recurring gains of ¥649,071.87, primarily from fair value changes of financial assets and liabilities[5] - The weighted average return on equity decreased to 1.44% from 1.80% year-on-year, a decline of 0.36%[3]

Financial Performance - The company's operating revenue for Q3 2021 was ¥398,828,964.28, representing a year-on-year increase of 14.72%[4] - The net profit attributable to shareholders for Q3 2021 was ¥17,900,571.07, an increase of 52.38% compared to the same period last year[4] - The basic earnings per share for Q3 2021 was ¥0.067, reflecting a growth of 39.58% year-on-year[4] - Total operating revenue for the current period reached ¥1,276,424,696.03, a 22.5% increase from ¥1,041,865,819.92 in the previous period[22] - Net profit for the current period was ¥143,159,527.82, a decline of 37.7% compared to ¥230,005,721.70 in the same period last year[23] - Basic and diluted earnings per share were both ¥0.269, down from ¥0.342 in the previous period[24] Assets and Liabilities - The total assets at the end of Q3 2021 were ¥7,104,065,524.61, a decrease of 0.36% from the end of the previous year[4] - As of September 30, 2021, the company's total assets amounted to CNY 7,104,065,524.61, a slight decrease from CNY 7,129,845,937.66 at the end of 2020[19] - The total current assets amounted to CNY 688,360,778.86 as of the latest report, with cash and cash equivalents at CNY 290,741,960.48 and accounts receivable at CNY 117,639,048.44[31] - The total non-current assets increased from CNY 6,441,485,158.80 to CNY 6,479,960,233.33, indicating an adjustment of CNY 38,475,074.53[32] - Total liabilities rose from CNY 2,824,706,936.54 to CNY 2,863,526,376.58, with a notable increase in non-current liabilities by CNY 39,945,019.68[32] - The company reported a total current liability of CNY 1,532,178,638.21, with accounts payable at CNY 93,232,749.73 and other payables at CNY 596,421,105.19[32] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥507,251,588.32, showing a slight increase of 1.47%[4] - Cash flow from operating activities generated a net amount of ¥507,251,588.32, slightly up from ¥499,911,053.52 in the prior period[27] - Cash flow from investing activities resulted in a net outflow of ¥403,927,941.43, an improvement from a net outflow of ¥840,736,507.01 last year[27] - Cash flow from financing activities showed a net outflow of ¥198,030,105.87, compared to a net inflow of ¥303,679,610.74 in the previous period[28] - The ending cash and cash equivalents balance was ¥159,864,198.16, down from ¥406,586,365.97 at the end of the previous period[28] Equity and Shareholder Information - The company reported a total equity of ¥2,804,900,198.31, an increase of 2.20% from the previous year[5] - The total equity attributable to shareholders increased to CNY 2,804,900,198.31 from CNY 2,744,462,634.26, showing an increase of approximately 2.2%[20] - The total equity attributable to shareholders was CNY 2,744,462,634.26, showing a slight decrease of CNY 232,446.72 compared to the previous period[32] Strategic Initiatives - The company signed a cooperation agreement for a natural gas underground storage project with the local government, indicating strategic expansion efforts[14] - A framework cooperation agreement was established for a carbon sink asset platform project, aligning with national carbon neutrality goals[14] - The company received approval for issuing convertible bonds, which will support its financing strategy[15] Operational Challenges - The company's net profit attributable to shareholders for the year-to-date period decreased by 13.02% compared to the same period last year, primarily due to the impact of a subsidy in the previous year[9] - The contribution of the natural gas segment to net profit increased by ¥15,890,000 due to a rise in natural gas prices and an increase in equity in a subsidiary[9] - The gross margin for horticultural products decreased by 9 percentage points year-on-year, impacting net profit by ¥2,630,000[9] Audit and Compliance - The company has not undergone an audit for the third quarter report, which may affect the reliability of the financial data presented[33] - The company has implemented the new leasing standards starting from 2021, which has resulted in adjustments to the financial statements[33]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥892,102,352.10, representing a 28.51% increase compared to ¥694,200,214.88 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 23.82% to ¥54,236,168.08 from ¥71,190,385.67 in the previous year[20]. - The net profit after deducting non-recurring gains and losses was ¥53,963,160.72, down 22.86% from ¥69,951,565.05 in the same period last year[20]. - The net cash flow from operating activities was ¥291,465,480.33, a decrease of 10.86% compared to ¥326,980,539.63 in the previous year[20]. - Basic earnings per share decreased by 31.06% to ¥0.202 from ¥0.293 in the same period last year[20]. - The total assets at the end of the reporting period were ¥7,104,525,193.55, a slight decrease of 0.36% from ¥7,129,845,937.66 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 1.54% to ¥2,786,646,417.13 from ¥2,744,462,634.26 at the end of the previous year[20]. - The weighted average return on net assets was 1.96%, down from 3.37% in the previous year, reflecting a decrease of 1.41%[20]. Revenue Drivers - The company's operating revenue increased by 28.51% year-on-year, driven by growth in both natural gas and gardening supplies businesses[34]. - The net profit attributable to shareholders decreased by 23.82% year-on-year, primarily due to the absence of a fiscal subsidy for tight gas extraction received in the previous year, which amounted to 78.52 million CNY[34]. - The average sales price and production volume of natural gas from the Shilou West Block both experienced year-on-year growth[34]. - The company's gardening supplies export revenue in USD increased by 34.50% year-on-year, but the appreciation of the RMB against the USD limited the growth in RMB revenue[34]. - The natural gas import volume increased by 23.8% year-on-year, indicating strong market demand[29]. Operational Developments - The company has established a marketing network covering major global gardening supplies markets, enhancing its market position[33]. - The natural gas development project in the Yonghe 30 well area has been approved for a production capacity of 1 billion cubic meters per year[28]. - The company is focusing on the research and development of gardening products with independent intellectual property rights[33]. - The company is actively involved in the exploration and development of natural gas resources in collaboration with China National Petroleum Corporation[28]. Financial Position - Cash and cash equivalents at the end of the reporting period amounted to ¥303,273,592.66, representing 4.27% of total assets, an increase from 4.08% at the end of the previous year[49]. - Accounts receivable increased to ¥165,338,543.56, accounting for 2.33% of total assets, up from 1.65% due to an increase in receivables from natural gas sales[49]. - Short-term borrowings decreased to ¥90,000,000.00, which is 1.27% of total assets, down from 2.13% as a result of repaying bank loans[49]. - Long-term borrowings remained stable at ¥900,000,000.00, representing 12.67% of total assets, slightly up from 12.62%[49]. Shareholder Information - The company plans to issue up to 20 million convertible bonds, aiming to raise no more than 200 million RMB for natural gas development projects and working capital[102]. - The total share capital increased from 149,184,287 shares to 268,531,716 shares after a capital reserve conversion of 119,347,429 shares, resulting in a basic and diluted earnings per share of 0.202 RMB for the first half of 2021[108]. - The company’s net asset per share attributable to ordinary shareholders is 10.38 RMB after the share increase, compared to 18.68 RMB based on the previous share capital[108]. - The total number of ordinary shareholders at the end of the reporting period is 7,586[113]. Risk Factors - The company has outlined potential risks and corresponding measures in the report, which investors are advised to pay attention to[4]. - The company faces risks related to reliance on a single partner, China National Petroleum Corporation, which could lead to significant performance fluctuations if the partnership changes[66]. - The company has a high goodwill balance due to the acquisition of Zhonghai Wobang, which may lead to impairment risks if future business performance does not meet expectations[66]. Compliance and Governance - There were no major lawsuits or arbitration matters during the reporting period, indicating a stable legal environment for the company[85]. - The company has not faced any administrative penalties related to environmental issues during the reporting period, complying with relevant laws and regulations[76]. - The company has not engaged in any significant related-party transactions during the reporting period, maintaining operational independence[86]. Future Outlook - The company has set a future outlook with a revenue growth target of 10% for the next fiscal year, aiming to reach 2,343 million yuan[148]. - New product development initiatives are underway, focusing on enhancing gas technology solutions to improve efficiency and reduce emissions[148]. - The company plans to expand its market presence by entering two new provinces in the upcoming year, targeting a 15% increase in market share[148]. - A strategic acquisition is being considered to enhance technological capabilities, with potential targets identified in the renewable energy sector[148].

Financial Performance - The company's operating revenue for Q1 2021 was ¥473,011,078.52, representing a 45.32% increase compared to ¥325,506,626.15 in the same period last year[7] - The net profit attributable to shareholders decreased by 9.77% to ¥49,731,656.71 from ¥55,119,037.40 year-on-year[7] - Basic earnings per share fell by 18.50% to ¥0.185 from ¥0.227 in the same period last year[7] - The net profit attributable to shareholders for Q1 2021 was CNY 49.73 million, a decrease of 9.77% from CNY 55.00 million in Q1 2020, primarily due to the absence of a subsidy received in the previous year[18] - The net profit for the first quarter of 2021 was CNY 84,288,828.97, a decrease from CNY 130,245,363.87 in the same quarter of the previous year[42] - The basic and diluted earnings per share for the first quarter of 2021 were both CNY 0.185, down from CNY 0.227 in the previous year[43] Cash Flow - The net cash flow from operating activities dropped significantly by 59.79% to ¥67,368,305.04 compared to ¥167,525,510.43 in the previous year[7] - The company’s cash flow from operating activities decreased by 59.79% to CNY 67.37 million, impacted by the lack of subsidies received in the previous year[17] - The total cash inflow from operating activities is 356,808,056.90, slightly up from 355,490,600.23 in the previous period[49] - The cash outflow from operating activities is 289,439,751.86, compared to 187,965,089.80 in the previous period, showing increased operational costs[49] - The net cash flow from operating activities is 67,368,305.04, down from 167,525,510.43 in the previous period, indicating reduced cash generation[49] - The cash flow from investing activities shows a net outflow of -64,589,584.83, compared to -190,059,434.89 in the previous period, suggesting a decrease in investment losses[50] - The cash flow from financing activities results in a net outflow of -30,780,417.22, an improvement from -75,326,081.01 in the previous period, indicating better management of financing costs[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,056,732,236.46, a decrease of 1.03% from ¥7,129,845,937.66 at the end of the previous year[7] - The company reported a total equity of CNY 2,657,474,236.20, a slight decrease from CNY 2,677,222,587.10 at the end of 2020[38] - The total current liabilities increased to CNY 825,109,217.42 from CNY 809,440,316.23 in the previous period[38] - The company's total liabilities decreased to CNY 2,666,708,975.27 from CNY 2,824,706,936.54, a reduction of approximately 5.6%[32][34] - The company’s long-term liabilities due within one year increased by 562.50% to CNY 21.78 million, reflecting higher interest payable on long-term loans[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,569[10] - The largest shareholder, Ganzhou Haide Investment Partnership, held 10.14% of the shares, amounting to 15,120,000 shares[10] - The company did not engage in any repurchase transactions during the reporting period[11] Operational Highlights - Natural gas extraction volume for Q1 2021 was 206 million cubic meters, remaining stable compared to the same period last year[18] - Contract assets increased by 122.85% to CNY 33.27 million as of March 31, 2021, due to unrecognized natural gas sales[17] - Accounts receivable rose by 89.37% to CNY 222.77 million, reflecting an increase in outstanding natural gas sales[17] - Research and development expenses for the first quarter of 2021 were CNY 2,473,848.49, compared to CNY 1,843,865.19 in the same period last year, indicating an increase in investment in innovation[41] Corporate Changes - The company has initiated a name change to "Shouhua Gas Technology (Shanghai) Co., Ltd." and a new stock abbreviation "Shouhua Gas" as of January 8, 2021[21] - The company did not undergo an audit for the first quarter report[55] - The report indicates that the new leasing standards were not applicable for the current year[55]

Financial Performance - The company's operating revenue for 2020 was ¥1,525,535,322.60, a decrease of 0.33% compared to 2019[23]. - Net profit attributable to shareholders was ¥107,755,183.82, representing a significant increase of 46.11% year-over-year[23]. - The net profit after deducting non-recurring gains and losses was ¥115,303,175.66, up by 27.18% from the previous year[23]. - The total assets at the end of 2020 amounted to ¥7,129,845,937.66, reflecting a 0.37% increase from 2019[23]. - The company's net assets attributable to shareholders increased by 32.29% to ¥2,744,462,634.26 at the end of 2020[23]. - The cash flow from operating activities was ¥628,053,979.17, down by 7.34% compared to the previous year[23]. - The company reported a basic earnings per share of ¥0.845, an increase of 16.87% from 2019[23]. - In 2020, the company achieved operating revenue of CNY 152,553.53 million, a decrease of CNY 511.16 million compared to the previous year, while net profit attributable to the parent company increased by CNY 3,400.50 million to CNY 10,775.52 million[54]. - The company reported a net profit of 456.28 million yuan, slightly lower than the previous year, indicating a stable overall profitability[60]. Business Operations and Strategy - The company has expanded its business into the natural gas sector, acquiring a 50.5% stake in Zhonghai Wobang and increasing its equity stake through subsequent purchases[32]. - The company is focused on maintaining compliance with regulatory requirements and ensuring the accuracy of its financial reporting[3]. - The company has established a stable cooperative relationship with its partner, but acknowledges the risks associated with potential changes in the partner's business operations or policies[8]. - The company is committed to enhancing its exploration and production techniques to optimize extraction volumes and reduce discrepancies with reported reserves[5]. - The company is actively exploring coalbed methane resources in the Ordos Basin, which is a hotspot for coalbed methane exploration and development in China[44]. - The company has expanded its sales operations by establishing subsidiaries in Shanxi and Zhejiang, achieving profitability in both regions[50]. - The company’s dual business strategy focuses on both natural gas and gardening products, optimizing its business structure to enhance operational efficiency and profitability[51]. - The company aims to expand its natural gas sales channels, establishing Zhejiang Woqing Energy Co., Ltd. in June 2020 to tap into the eastern natural gas market[120]. Risks and Challenges - The company faces risks related to the discrepancy between proven reserves and actual extraction volumes, particularly in the Shilou West Block, where extraction volumes may vary due to various uncontrollable factors[5]. - The company is exposed to risks from reliance on a single partner, as its operations are heavily dependent on a long-term contract with a single entity, which could lead to significant performance fluctuations if the partnership changes[8]. - The company acknowledges the risk of potential adjustments in national natural gas industry policies, which could impact its development and operations[6]. - The company has a high goodwill balance due to the acquisition of Zhonghai Wobang, which may lead to impairment risks if future business performance does not meet expectations[9]. - The company faces risks related to discrepancies between proven reserves and actual extraction volumes, particularly in the Yonghe 18, 30, and 45 well areas, although the risk level is considered manageable[121]. - The company is exposed to potential adjustments in natural gas industry policies, which could impact its development due to changing political and economic factors[122]. Research and Development - Research and development (R&D) investment increased from CNY 26.42 million in 2018 to CNY 69.96 million in 2020, reflecting a growing commitment to innovation[47]. - Zhonghai Wobang obtained 20 authorized patents and applied for 11 software copyrights in 2020, showcasing its focus on technological advancement[47]. - The company has implemented a series of incentive mechanisms to foster a culture of technological innovation and talent development within its R&D teams[46]. - The number of R&D personnel increased to 77, accounting for 17.38% of the workforce, up from 14.91% in 2019[85]. - The company completed 8 R&D projects during the reporting period, including geological studies and resource evaluations in the Shilou West Block[84]. Market Trends and Future Outlook - The company operates in a rapidly developing natural gas industry, supported by national policies aimed at increasing the share of natural gas in the energy consumption structure[7]. - The company anticipates continued growth in natural gas demand driven by urban, industrial, and commercial sectors as part of China's energy structure adjustment[61]. - The company plans to enhance investment in natural gas exploration and development, particularly in the Zhonghai Wobang natural gas extraction business[116]. - The company aims to optimize its business structure while increasing exploration and development investments in the Shilou West Block[118]. - The company is exploring mergers and acquisitions of quality assets within the oil and gas industry to enhance its operational scale[116]. - The company is focused on maintaining a competitive edge in the market through strategic partnerships and compliance with regulatory frameworks[177]. Corporate Governance and Compliance - The company is committed to avoiding related party transactions that could harm the interests of the listed company, ensuring compliance with relevant laws and regulations[134]. - The company has committed to fulfilling long-term commitments related to the acquisition and operational responsibilities of subsidiaries[143]. - The company ensures the accuracy and completeness of the information provided during the major asset restructuring process, with a commitment to bear legal responsibility for any misleading statements[144]. - The company has established a compensation mechanism for losses arising from the termination of cooperation contracts, based on the net profit achieved prior to termination[142]. - The company is focused on ensuring compliance with regulatory requirements and maintaining operational integrity in its projects[142]. Shareholder Relations and Dividends - The company reported a total distributable profit of 310,189,080.69 yuan, with a cash dividend ratio of 0.00% for the reporting period[129]. - The company has not distributed cash dividends in the past three years, opting instead to retain profits for future growth[131]. - The company has proposed a capital reserve increase of 8 shares for every 10 shares held, resulting in a total share capital increase to 268,531,717 shares, with no cash dividends or bonus shares distributed[130]. - The company will not engage in competitive business activities with the listed company or its controlled entities post-major asset restructuring without consent[138]. - The company has not proposed any cash dividend distribution plan despite having positive distributable profits for the reporting period[133].

Financial Position - Total assets at the end of the reporting period reached ¥7,113,867,689.47, a slight increase of 0.15% compared to the end of the previous year[7] - The company's total assets increased to CNY 3,858,367,347.58 from CNY 2,535,934,433.01 year-on-year[37] - The company's total liabilities as of September 30, 2020, were CNY 2,862,572,991.55, down from CNY 2,908,412,906.80 at the end of 2019[33] - The total liabilities of the company amounted to ¥2,908,412,906.80, indicating the company's financial obligations[66] - The company's total equity reached ¥4,195,038,391.82, demonstrating a stable equity base[66] Shareholder Equity - Net assets attributable to shareholders increased by 31.31% to ¥2,724,110,366.25 compared to the end of the previous year[7] - The equity attributable to the parent company increased to CNY 2,724,110,366.25 from CNY 2,074,631,416.75, reflecting a growth of approximately 31.3%[34] - The company's equity increased to CNY 2,694,988,487.47 from CNY 1,931,763,556.65 year-on-year[37] Revenue and Profitability - Operating revenue for the reporting period was ¥347,665,605.04, representing an 8.38% increase year-on-year[7] - Total operating revenue for Q3 2020 was CNY 347,665,605.04, an increase from CNY 320,792,176.88 in the previous period[39] - Total operating revenue for the third quarter was ¥1,041,865,819.92, a decrease of 3.7% compared to ¥1,081,701,732.74 in the same period last year[48] - Net profit attributable to shareholders decreased by 7.60% to ¥11,747,588.06 compared to the same period last year[7] - Net profit for Q3 2020 was CNY 50,003,048.12, compared to CNY 68,224,950.29 in the same period last year[41] - The operating profit for the quarter was ¥276,827,216.49, down from ¥348,607,283.45 in the same period last year, indicating challenges in maintaining profitability[49] Cash Flow - The net cash flow from operating activities was ¥172,930,513.89, a decrease of 25.69% compared to the same period last year[7] - Cash flow from operating activities generated a net amount of CNY 499,911,053.52, compared to CNY 482,756,325.48 in the previous period[57] - The company reported a cash flow deficit from investing activities of CNY -840,736,507.01, compared to a deficit of CNY -353,580,186.56 in the previous period[58] - Cash and cash equivalents at the end of the period totaled ¥353,264,984.10, compared to ¥14,192,831.29 at the end of the previous period, reflecting a significant increase[61] Expenses - The net profit after deducting non-recurring gains and losses was ¥11,132,274.25, down 27.61% year-on-year[7] - Total operating costs for Q3 2020 were CNY 279,456,506.28, up from CNY 236,496,614.52 year-on-year[40] - The company incurred sales expenses of CNY 694,395.13, a decrease from CNY 5,542,408.99 in the previous period[52] - Research and development expenses decreased to CNY 271,993.48 from CNY 1,741,243.08 year-on-year[40] - The company reported a significant increase in financial expenses, totaling ¥51,345,008.47, up from ¥43,111,277.59 in the previous year[49] Government Subsidies - The company reported government subsidies amounting to ¥12,631,383.60 during the reporting period[8] - The company received a government subsidy of ¥78.53 million, positively impacting its operating performance for the first nine months of 2020[22] - Other income increased significantly by 5175.90% to ¥80.19 million, attributed to receiving fiscal subsidies for tight gas[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 5,996[11] - The company completed a private placement of 25,964,319 shares at a price of ¥31.90 per share, raising a total of ¥110.88 million[20] Asset Management - As of September 30, 2020, accounts receivable financing decreased by 71.81% to ¥35 million from ¥124.15 million at the end of 2019[18] - Prepayments decreased by 44.03% to ¥4.97 million due to reaching settlement conditions[18] - Other receivables decreased by 33.64% to ¥16.03 million as a result of recovering advance payments[18] - The company's inventory decreased slightly to CNY 51,311,231.13 from CNY 54,078,233.39, a decline of about 5.0%[30] Compliance and Governance - The company reported no violations regarding external guarantees during the reporting period[25] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[26] - The company did not disclose any performance forecasts for the year 2020[25] - The company has not undergone an audit for the Q3 report, which may affect investor confidence[71] - The company is implementing new revenue and leasing standards starting in 2020, which may impact future financial reporting[71]