Revenue and Profitability - Revenue for Q1 2021 was CNY 33,893,883.38, representing a 3.68% increase compared to CNY 32,690,533.97 in the same period last year[8] - The net profit for the period was -¥5,434,092.95, indicating a loss[19] - Operating profit for Q1 2021 was reported at -CNY 5,697,703.06, an improvement from -CNY 10,281,839.19 in the same period last year[45] - The company reported a net loss of CNY 5,714,880.34 for Q1 2021, compared to a net loss of CNY 9,904,764.69 in Q1 2020, indicating a narrowing of losses[45] - The net profit for Q1 2021 was -5,714,880.34 CNY, an improvement from -9,921,289.50 CNY in the same period last year, representing a decrease in losses of approximately 42.3%[46] - The total comprehensive income for Q1 2021 was -5,714,880.34 CNY, an improvement from -9,921,289.50 CNY in the same period last year[46] Cash Flow - Net cash flow from operating activities was a negative CNY 20,311,977.68, improved from a negative CNY 39,914,011.84 year-on-year[8] - The company reported a net cash outflow from operating activities of -20,311,977.68 CNY, an improvement from -39,914,011.84 CNY in the previous year[53] - Cash inflow from operating activities totaled 34,428,358.41 yuan, compared to 23,143,253.61 yuan in the previous period, reflecting a 48.8% increase[55] - Cash outflow from operating activities increased to 70,380,028.24 yuan from 62,798,273.17 yuan, representing a 11.5% rise[55] - Cash flow from investing activities resulted in a net outflow of -1,623,197.91 yuan, significantly reduced from -35,494,030.21 yuan in the previous period[57] - Cash inflow from financing activities was 55,000,000.00 yuan, up from 20,000,000.00 yuan, marking a 175% increase[57] - The net cash flow from financing activities was 53,378,444.45 yuan, compared to 19,134,466.67 yuan in the previous period, indicating a 179.5% increase[57] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,228,638,928.87, up 2.09% from CNY 1,203,465,169.75 at the end of the previous year[8] - Current liabilities increased to CNY 575,962,538.98 from CNY 540,365,855.30, reflecting a rise of approximately 6.5%[42] - The total equity attributable to shareholders decreased to CNY 544,732,475.35 from CNY 549,359,894.47, a decline of about 0.11%[42] - Short-term borrowings increased to 160,000,000.00 CNY from 130,000,000.00 CNY at the end of 2020[36] - Accounts payable increased by 230.41% compared to the beginning of the period, primarily due to an increase in direct bill issuance[17] - Employee compensation payable decreased by 96.82%, mainly due to the payment of accrued employee compensation[17] - Other payables increased by 124.01%, attributed to loans from JiaoTuo Industrial[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,357[11] - The top ten shareholders held a combined 56.67% of the company's shares, with the largest shareholder owning 10.67%[11] - After the share transfer, JiaoTuo Industrial holds 12,133,561 shares, accounting for 9.73% of the total share capital, and controls 29.45% of the voting rights[19][21] Expenses - Management expenses increased by 66.36% year-on-year, mainly due to higher depreciation and related costs from increased fixed assets[17] - Interest expenses rose by 104.71% year-on-year, reflecting an increase in loans compared to the same period last year[17] - The company incurred financial expenses of 1,780,627.56 CNY, significantly higher than 644,664.46 CNY in the previous year, primarily due to increased interest expenses[48] Research and Development - Research and development expenses rose to 2,752,450.24 CNY, compared to 2,426,099.42 CNY in the previous year, indicating a focus on innovation[48] Other Information - The company received government subsidies amounting to CNY 262,996.85 during the reporting period[9] - The company has no significant changes in project feasibility during the reporting period[28] - There were no violations regarding external guarantees during the reporting period[29] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[30] - The company did not undergo an audit for the first quarter report[58]

Financial Performance - The company's operating revenue for 2020 was ¥518,723,551.37, representing a 19.15% increase compared to ¥435,349,250.51 in 2019[18]. - The net profit attributable to shareholders for 2020 was ¥9,427,082.87, a 27.11% increase from ¥7,416,554.02 in 2019[18]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,508,059.10, recovering from a loss of ¥12,361,830.17 in 2019[18]. - The total assets at the end of 2020 were ¥1,203,465,169.75, a 27.71% increase from ¥942,327,774.00 at the end of 2019[18]. - The company reported a basic earnings per share of ¥0.0756 for 2020, up 27.06% from ¥0.0595 in 2019[18]. - The total net assets attributable to shareholders at the end of 2020 were ¥566,877,054.61, a 3.48% increase from ¥547,808,858.86 at the end of 2019[18]. - The company experienced a negative cash flow from operating activities of ¥78,669,481.57 in 2020, compared to a positive cash flow of ¥44,895,446.29 in 2019[18]. - The company reported a total external guarantee amount of 10,000,000, with an actual guarantee amount also of 10,000,000 during the reporting period[117]. Accounts Receivable Management - The company reported a significant increase in accounts receivable, which poses a risk to asset quality and financial status if not collected timely[5]. - The company is enhancing its accounts receivable management and debt collection strategies to improve asset quality[5]. - The company is committed to improving its debt collection team and monitoring systems to mitigate financial risks associated with accounts receivable[5]. - The company has established a debt collection plan and restructuring strategy for different projects to gradually reduce accounts receivable[5]. - The company has established a risk management strategy to address the timely recovery of accounts receivable, which is a key focus for 2021[80]. - The company has a significant accounts receivable balance, and efforts are being made to recover these debts, including forming a dedicated team and employing external agencies[80]. Investment and Projects - The company completed its fundraising projects, including the "Natural Gas Liquefaction Device Capacity Expansion Project" and the "Cryogenic Liquefaction Technology R&D Center Project," which are expected to increase fixed asset depreciation and intangible asset amortization annually[6]. - The company faces risks related to the potential underperformance of its investment projects, which could lead to a decline in profit levels and return on equity[6]. - The company signed new contracts totaling approximately CNY 690 million, primarily involving LNG and air separation equipment[36]. - The company has completed the construction of several LNG and air separation projects, with expected production in 2021[36]. - The company plans to complete key projects in 2021, including a 400,000-ton LNG processing project and a 60,000-ton LNG project in Inner Mongolia[76]. Research and Development - Research and development investment for the year amounted to CNY 18.06 million, with multiple new technology patents authorized[39]. - The company has obtained 95 patent authorizations, including 24 invention patents and 62 utility model patents[31]. - The company is exploring the development of hydrogen fuel cell technologies and applications as part of its green energy initiatives[78]. - The company has developed technologies for hydrogen production, liquefaction, storage, and refueling, and plans to invest in hydrogen stations and comprehensive energy stations through cooperative operations[78]. Corporate Governance and Management - The company’s financial report has been confirmed as true, accurate, and complete by its board and management[4]. - The company has appointed Tianzhi International Accounting Firm as its auditor for the 2020 financial year, with an audit fee of 650,000 RMB[97]. - The company has undergone a change in control, with the controlling shareholder now being Sichuan Jiaotou Industrial Co., Ltd., as of January 14, 2021[98]. - The company reported a total remuneration of 4.5667 million yuan for directors, supervisors, and senior management in 2020[172]. - The company has established a comprehensive performance evaluation system and incentive mechanism for senior management, contributing to management stability and efficiency[197]. Shareholder and Equity Information - The company plans to issue A-shares at a price of RMB 13.78 per share, aiming to raise up to RMB 496.08 million to improve liquidity and support business development[80]. - The company did not distribute any cash dividends for the year 2020, despite having a positive profit available for distribution to ordinary shareholders[90]. - The company distributed a cash dividend of RMB 0.3 per share for the 2019 fiscal year, totaling RMB 37,407,597.90, with no capital reserve fund conversion planned[85]. - The company has a receivable of 49.9801 million CNY from a related party, which has created some financial pressure[108]. - The company signed an agreement with its actual controller to ensure repayment of 98.4966 million CNY owed by a related party[110]. Market Position and Industry Trends - The company focuses on providing natural gas liquefaction and air separation process packages and equipment, indicating a strong market position in the LNG sector[26]. - In 2020, China's apparent natural gas consumption reached 328.9 billion cubic meters, a year-on-year increase of 7.6%[29]. - The hydrogen energy industry in China saw an investment scale of 71.2 billion yuan in 2020, with 51.5 billion yuan specifically in the hydrogen fuel cell industry chain[74]. - The industrial gas market in China was valued at 147.7 billion yuan in 2019, with a compound annual growth rate of 15.29% from 2010 to 2019[73]. Employee and Organizational Structure - The company employed a total of 330 staff, including 264 in the parent company and 66 in major subsidiaries[175]. - The company has a diverse management team with backgrounds in law, finance, and engineering[168][169]. - The company has implemented a performance-based flexible compensation system to ensure employee interests are safeguarded[176]. - The company plans to enhance its training management system and provide better training development platforms for employees in 2021[177].

Financial Performance - Operating revenue decreased by 21.15% to CNY 104,924,999.10 for the current period, and by 12.66% to CNY 286,503,740.53 year-to-date[8] - Net profit attributable to shareholders was a loss of CNY 2,522,444.45 for the current period, down 33.39% year-to-date[8] - Basic earnings per share decreased by 33.33% to CNY -0.0202 for the current period[8] - Revenue for the reporting period decreased by 12.66% year-on-year, primarily due to reduced contract execution volume impacted by the COVID-19 pandemic[16] - Net profit for the reporting period decreased by 33.39% year-on-year, attributed to the decline in revenue and higher non-recurring gains in the previous year[16] - The net profit for Q3 2020 was a loss of CNY 2.93 million, compared to a profit of CNY 0.26 million in Q3 2019, indicating a significant decline in profitability[31] - The company's total operating revenue for the current period is CNY 286,503,740.53, a decrease of 12.7% compared to CNY 328,050,585.54 in the previous period[35] - The net profit for the current period is CNY 8,409,996.92, compared to CNY 10,744,462.89 in the previous period, indicating a decline of 21.7%[37] Assets and Liabilities - Total assets increased by 26.41% to CNY 1,191,154,213.36 compared to the end of the previous year[8] - The total liabilities increased to CNY 551.26 million in Q3 2020 from CNY 355.57 million in the same period last year, indicating a rise in financial obligations[29] - Total assets amounted to 942,327,774.00 CNY, with total liabilities at 376,156,186.65 CNY, resulting in total equity of 566,171,587.35 CNY[47] - The company reported a total current asset of 775,547,816.17 CNY, with current liabilities totaling 374,748,186.65 CNY, indicating a current ratio of approximately 2.07[46] Cash Flow - The net cash flow from operating activities was a negative CNY 23,308,038.75 for the current period[8] - Cash flow from operating activities was negative due to high cash payments for goods purchased during the reporting period[16] - The total cash inflow from operating activities is ¥291,755,526.84, an increase from ¥232,978,097.73 in the previous period[41] - The net cash flow from operating activities is -¥20,039,047.28, a decline from ¥26,497,319.84 in the previous period[41] - Total cash inflow from operating activities was 265,704,252.98 CNY, compared to 212,489,514.46 CNY in the previous period, reflecting a growth of approximately 25%[43] - Cash outflow from operating activities increased to 281,360,031.88 CNY from 183,140,269.95 CNY, representing a rise of about 54%[43] Shareholder Information - The total number of shareholders at the end of the reporting period was 11,088[11] - The largest shareholder, Xie Lemin, holds 12.89% of the shares, totaling 16,077,115 shares[11] - Sichuan Jianyang Port Technology Development Co., Ltd. holds 10.85% of the shares, with 6,596,480 shares pledged[11] Inventory and Receivables - Accounts receivable decreased by 98.24% compared to the beginning of the period due to the collection of matured commercial acceptance bills[15] - Inventory increased by 77.53% compared to the beginning of the period due to an increase in project execution[15] - The company reported a significant increase in accounts receivable, which reached CNY 419.33 million, compared to CNY 329.78 million in the previous year[28] Expenses - Research and development expenses for the current period are CNY 10,798,712.73, slightly down from CNY 11,460,515.36 in the previous period[36] - Sales expenses decreased to CNY 6,407,154.68 from CNY 7,976,218.85, a reduction of 19.7%[36] - The company incurred financial expenses of CNY 3,316,338.74, compared to CNY 3,183,485.59 in the previous period, an increase of 4.2%[36] Other Financial Metrics - The weighted average return on net assets was -0.46% for the current period, down from 1.24% year-to-date[8] - Other income increased by 1218.9% year-on-year, mainly due to an increase in government subsidies[16] - The company achieved a gross profit margin of approximately 12.94% for the current period, down from 12.69% in the previous period[38]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥181,578,741.43, a decrease of 6.87% compared to ¥194,974,896.54 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥9,378,003.69, down 5.42% from ¥9,915,577.76 in the previous year[18]. - The net profit after deducting non-recurring gains and losses increased by 111.00%, reaching ¥7,368,685.70 compared to ¥3,492,304.98 in the same period last year[18]. - The net cash flow from operating activities was ¥3,268,991.47, a significant decrease of 76.97% from ¥14,194,763.66 in the previous year[18]. - Basic earnings per share were ¥0.0752, down 5.41% from ¥0.0795 in the same period last year[18]. - The diluted earnings per share were also ¥0.0752, reflecting the same decrease of 5.41% compared to the previous year[18]. - The weighted average return on net assets was 1.70%, a slight decrease of 0.12% from 1.82% in the previous year[18]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,148,953,564.03, an increase of 21.93% from ¥942,327,774.00 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased by 2.98%, amounting to ¥564,148,846.28 compared to ¥547,808,858.86 at the end of the previous year[18]. - Cash and cash equivalents at the end of the reporting period were ¥144,060,021.79, a decrease of 4.89% from the previous year[39]. - Accounts receivable amounted to ¥407,305,236.40, down 4.92% year-on-year, accounting for 35.45% of total assets[39]. - Inventory increased to ¥176,600,412.29, up 8.46% year-on-year, attributed to increased contract volumes[39]. - The total liabilities of the company as of June 30, 2020, were not explicitly stated but can be inferred to have increased due to the rise in current liabilities[116]. Cash Flow - The company reported a significant increase in cash received from sales, totaling CNY 188,340,999.66 in the first half of 2020, compared to CNY 110,817,464.01 in the same period of 2019[130]. - The net cash flow from operating activities for the first half of 2020 was ¥7,646,307.29, a decrease of 44.7% compared to ¥13,832,876.77 in the same period of 2019[133]. - Total cash inflow from operating activities increased to ¥190,961,737.39, up 77.1% from ¥107,753,592.09 in the previous year[133]. - Cash outflow from investing activities was ¥65,540,938.25, significantly reduced from ¥154,047,701.43 in the first half of 2019, resulting in a net cash flow of -¥30,442,308.11[135]. Investments and Projects - New contracts signed during the reporting period totaled 530 million yuan, primarily involving natural gas liquefaction and air separation devices[30]. - The company has signed an investment cooperation agreement for a hydrogen energy equipment base project in Datong, Shanxi Province[32]. - The total amount of raised funds utilized for the natural gas liquefaction capacity expansion project was 100% completed[45]. - The deep cooling liquefaction technology R&D project has utilized ¥1,487.97 million, achieving 78.71% of the planned investment[45]. - The company has completed the fundraising projects for the "Natural Gas Liquefaction Device Capacity Expansion Project" and the "Deep Cold Liquefaction Technology R&D Center Project," which are expected to increase fixed asset depreciation and intangible asset amortization annually[55]. Shareholder and Equity Information - The total number of shareholders at the end of the reporting period was 8,612, with significant shareholders including Xie Lemin holding 12.89% and Sichuan Jianyang Portong Economic and Technological Development Co., Ltd. holding 10.96%[96]. - The company approved the lifting of restrictions on 1.450953 million shares, accounting for approximately 1.16% of the total share capital of 12.471 million shares[70]. - The company has implemented an employee stock incentive plan, which was approved in April 2018, aimed at granting restricted stock to eligible employees[68]. - The company completed a buyback of 18,007 restricted shares at a price of 7.07 yuan per share, reducing its registered capital[69]. - The proportion of restricted shares decreased from 31.87% to 30.49%, while unrestricted shares increased from 68.13% to 69.51%[92]. Research and Development - Research and development expenses were 6.97 million yuan, a decrease of 3.92% compared to the previous year[35]. - The company has obtained multiple new patents, including two invention patents related to cryogenic separation systems[33]. - The company reported a decrease in research and development expenses to CNY 6,965,879.30 from CNY 7,250,338.19, a reduction of 3.9%[124]. Regulatory and Compliance - The financial report for the first half of 2020 was not audited[113]. - The company has no major litigation or arbitration matters during the reporting period[65]. - The company has not faced any media scrutiny or regulatory penalties during the reporting period[66][67]. - The company reported no significant related party transactions during the reporting period[71]. Accounting Policies - The company follows the accounting treatment for business combinations under common control and non-common control, with specific guidelines for asset and liability measurement at the date of acquisition[164]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired, and any excess is recognized as profit or loss in the current period[165]. - The company consolidates financial statements based on control, including all subsidiaries, and adjusts for any inconsistencies in accounting policies or periods[169]. - The company assesses whether multiple transactions leading to loss of control should be treated as a single transaction based on specific criteria[172].

Financial Performance - The company reported a significant increase in revenue, with total revenue reaching RMB 1.2 billion, representing a year-on-year growth of 15%[10] - The company's operating revenue for 2019 was ¥435,349,250.51, representing a year-on-year increase of 26.99% compared to ¥342,829,367.19 in 2018[24] - The net profit attributable to shareholders for 2019 was ¥7,416,554.02, a significant recovery from a loss of ¥116,750,324.23 in 2018[24] - The net cash flow from operating activities for 2019 was ¥44,895,446.29, improving from a negative cash flow of ¥68,956,591.51 in 2018[24] - Total revenue for 2019 reached ¥435,349,250.51, representing a year-on-year increase of 26.99% compared to ¥342,829,367.19 in 2018[51] - The net profit attributable to shareholders was 7.42 million yuan, marking a turnaround from loss to profit[42] - The total cash dividend distributed was 3,740,759.79 yuan, representing 50.44% of the net profit[105] Accounts Receivable and Financial Risks - The accounts receivable balance at the end of the reporting period was substantial, posing a risk to asset quality and financial status if not collected timely[8] - The company plans to strengthen its accounts receivable management and improve debt collection strategies to mitigate financial risks associated with receivables[9] - The company has a significant accounts receivable balance, which poses a risk to asset quality and financial condition if not managed properly[94] - The company has committed to enhancing accounts receivable management and debt collection strategies to mitigate financial risks[94] Investments and Fundraising - The company has completed the fundraising projects for the natural gas liquefaction capacity expansion and the deep cooling technology R&D center, which are expected to enhance operational efficiency and asset utilization[10] - The company utilized ¥5,516.31 million of raised funds during the reporting period, with a remaining balance of ¥3,301.99 million in the dedicated account as of December 31, 2019[76] - The company has committed to invest a total of 29,730,000 CNY in various projects, with a cumulative investment of 5,516,310 CNY by the end of the reporting period, achieving a progress rate of 18.56%[77] - The natural gas liquefaction capacity expansion project has a total investment of 4,410,000 CNY, with 3,209,250 CNY invested by June 30, 2020, representing a progress of 72.7%[77] - The deep cold liquefaction technology research center project has a total investment of 5,320,000 CNY, with 2,307,060 CNY invested by June 30, 2020, achieving a progress rate of 43.4%[77] Research and Development - The company is focused on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[10] - R&D investment for the year amounted to 17.48 million yuan, resulting in multiple new technology patents[46] - The company has developed a low-temperature distillation method to produce crude helium from LNG BOG, which is significant for enhancing helium production economics in China[48] - The company completed significant R&D projects, including low-temperature distillation for crude helium production and hydrogen liquefaction systems[65] - The company has invested in R&D for hydrogen energy utilization, LNG storage, and hydrogen separation technologies, aiming to strengthen its competitive position in the market[89] Corporate Governance - The company’s board of directors and management have committed to ensuring the accuracy and completeness of the financial report, taking legal responsibility for any misstatements[6] - The company has maintained effective internal controls over financial reporting, with no significant deficiencies identified in non-financial reporting controls[7] - The company received a non-standard audit report but believes its accounting practices comply with relevant standards and regulations, emphasizing the importance of investor risk awareness[109] - The company has implemented a robust corporate governance structure, complying with relevant laws and regulations[182] - The independent directors did not raise any objections to company matters during the reporting period[188] Market and Industry Trends - The company plans to increase the share of natural gas in primary energy consumption from 5.9% in 2015 to 10% by 2020, driven by national energy structure optimization and environmental pollution control[83] - In 2019, China's apparent natural gas consumption reached 2,735 billion cubic meters, a year-on-year increase of 9%, although the growth rate decreased by 9.2 percentage points compared to 2018[85] - The overall natural gas supply and demand in China is expected to remain stable, with a projected growth rate of around 9% in 2019 despite some market challenges[84] Employee and Management Structure - The company has a total of 302 employees, with 253 in the parent company and 49 in major subsidiaries[174] - The total remuneration paid to directors, supervisors, and senior management during the reporting period was 3.7112 million yuan[171] - The company employs 109 production personnel, 66 sales personnel, 75 technical personnel, 8 financial personnel, and 44 administrative personnel[174] - The company has implemented a performance-based compensation system to motivate employees and improve work performance[175] - The company has established a training system that includes new employee orientation, general skills training, management skills training, and professional skills training[177] Shareholder Information - The company reported no significant changes in shareholder structure or internal employee stock situations during the reporting period[148][149] - The largest shareholder, Xie Lemin, holds 12.89% of the shares, totaling 16,077,115 shares[150] - The company has a registered capital of 12 million RMB and is involved in real estate development and management[154] - The total shares held by directors, supervisors, and senior management at the end of the reporting period amounted to 46,387,700 shares, with a decrease of 760,200 shares during the period[163] Legal and Compliance - There were no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment for the company[118] - The company did not face any penalties or rectification requirements during the reporting period, reflecting compliance with regulations[119] - The company has no outstanding bonds that are due or unable to be fully repaid as of the annual report approval date[199]

Financial Performance - Total revenue for Q1 2020 was ¥32,690,533.97, a decrease of 49.85% compared to ¥65,179,230.55 in the same period last year[2] - Net profit attributable to shareholders was -¥9,639,501.69, representing a decline of 382.09% from a profit of ¥3,417,204.20 in the previous year[2] - Basic and diluted earnings per share were both -¥0.0773, down 382.12% from ¥0.0274 in the same period last year[2] - The company's operating revenue for Q1 2020 was approximately CNY 32.69 million, a decrease of 49.84% year-on-year due to delays in delivery caused by the COVID-19 pandemic[11] - The net profit for the same period was a loss of CNY 9.64 million, marking a shift from profit to loss compared to the previous year[11] - The net profit for Q1 2020 was a loss of CNY 9,921,289.50, compared to a profit of CNY 2,875,694.20 in Q1 2019, indicating a significant decline in profitability[31] - The total comprehensive income for the current period is -CNY 9,639,501.69, compared to CNY 3,417,204.20 in the previous period[32] Cash Flow - The net cash flow from operating activities was -¥39,914,011.84, worsening from -¥15,621,411.08 in the previous year[2] - The cash flow from operating activities shows a net outflow of CNY 39,914,011.84, worsening from a net outflow of CNY 15,621,411.08 in the previous period[36] - Operating cash outflow increased significantly to ¥62,798,273.17 from ¥40,896,158.13, representing a rise of about 53.5% year-over-year[38] - Cash inflow from financing activities was ¥20,000,000.00, consistent with the previous period[39] - The company reported a net cash increase of ¥33,029,866.56 during the period[39] Assets and Liabilities - Total assets at the end of the reporting period were ¥934,086,887.90, a decrease of 0.87% from ¥942,327,774.00 at the end of the previous year[2] - The company's current liabilities total 376,305,983.53 CNY, showing a minor increase from 374,748,186.65 CNY[25] - The total assets as of March 31, 2020, were CNY 867,013,149.45, a decrease from CNY 890,636,556.68 at the end of 2019[28] - The total liabilities as of March 31, 2020, were CNY 340,784,760.92, down from CNY 355,568,948.97 at the end of 2019[29] - The company's equity attributable to shareholders decreased to CNY 526,228,388.53 from CNY 535,067,607.71, a decline of 1.57%[29] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 8,477[5] - The top ten shareholders held a combined 56.01% of the company's shares, with the largest shareholder owning 12.89%[5] Government Support and Non-Recurring Items - The company received government subsidies amounting to ¥378,660.00 during the reporting period[3] - There were no significant non-recurring gains or losses reported during the period[3] Research and Development - The company reported a significant increase in research and development expenses, totaling CNY 3,117,378.64 in Q1 2020 compared to CNY 3,460,870.95 in Q1 2019[31] - The company incurred research and development expenses of CNY 2,426,099.42, slightly down from CNY 2,761,770.23 in the previous period[33] Operational Challenges and Risks - The company faces risks related to the timely collection of accounts receivable, which could adversely affect asset quality and financial status[15] - The fixed asset depreciation and intangible asset amortization are expected to increase due to the completion of fundraising projects, posing a risk of profit decline if expected benefits are not realized[15] - The company has implemented measures to strengthen accounts receivable management and improve asset quality[15] Investment and Fund Utilization - The total amount of raised funds is 29,730,000 CNY, with 642,940 CNY invested in the current quarter[18] - Cumulative investment of raised funds amounts to 28,041,830 CNY, achieving a utilization rate of 94.29%[18] - The natural gas liquefaction facility expansion project has a completion rate of 106.57% with an investment of 4,699,600 CNY[18] - The deep cooling liquefaction technology R&D project has a completion rate of 62.82% with an investment of 3,342,230 CNY[18] - The company has no changes in the feasibility of projects or significant deviations from planned progress[18]

Financial Performance - Operating revenue for the reporting period increased by 43.36% to CNY 133,075,689.00, while year-to-date revenue rose by 59.44% to CNY 328,050,585.54[9] - Net profit attributable to shareholders for the reporting period was CNY 376,099.07, with a year-to-date increase of 65.08% to CNY 10,291,676.83[9] - The total operating revenue for Q3 2019 was CNY 133,075,689, an increase of 43.3% compared to CNY 92,823,204.62 in the same period last year[36] - The net profit for Q3 2019 was CNY 264,950.02, a significant recovery from a net loss of CNY 1,103,233.63 in the previous year[36] - Net profit for the period was CNY 10,744,462.89, compared to CNY 5,489,488.94 in the same period last year, representing a 95.5% increase[44] - Total profit for the period was CNY 11,089,258.59, compared to CNY 6,598,503.06 in the previous period, a growth of 68.5%[42] - The total comprehensive income for the period was CNY 10,744,462.89, up from CNY 5,489,488.94, reflecting a 95.5% increase[44] Earnings and Profitability - The basic earnings per share for the reporting period was CNY 0.0030, a decrease of 134.66% compared to the same period last year[9] - The basic and diluted earnings per share for Q3 2019 were CNY 0.0030, recovering from a loss of CNY 0.0087 per share in the previous year[38] - Basic earnings per share improved to CNY 0.0825 from CNY 0.0508, an increase of 62.5%[44] Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY 26,497,319.84 year-to-date[9] - Cash inflow from operating activities increased by 57.78% year-on-year, due to higher cash receipts from sales of goods and services[21] - The cash flow from operating activities generated a net amount of CNY 26,497,319.84, compared to a negative CNY 74,633,661.33 in the same period last year[49] - Total cash and cash equivalents at the end of the period were CNY 73,491,354.22, down from CNY 119,892,654.98 at the end of the previous year[51] Assets and Liabilities - Total assets at the end of the reporting period decreased by 4.59% to CNY 988,165,272.05 compared to the end of the previous year[9] - Total liabilities decreased to CNY 410.21 million from CNY 486.71 million, a reduction of approximately 15.6%[31] - Total current assets amounted to CNY 880,842,283.31[62] - Total non-current assets reached CNY 108,130,156.97, contributing to total assets of CNY 988,972,440.28[62] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 9,960[13] - The largest shareholder, Xie Lemin, holds 12.89% of the shares, totaling 16,077,115 shares[13] Operating Costs and Expenses - Operating costs rose by 81.57% year-on-year, attributed to the increase in operating revenue[21] - Cash paid to employees increased by 39.75% year-on-year, mainly due to higher year-end bonuses[21] - Research and development expenses for Q3 2019 were CNY 4,210,177.17, an increase from CNY 3,633,717.93 in the same period last year, indicating a focus on innovation[36] - Financial expenses increased significantly to CNY 3,183,485.59 from CNY 562,880.96, marking a 466.5% rise[42] Government Support and Non-Recurring Items - The company received government subsidies amounting to CNY 181,481.79 during the reporting period[10] - Non-recurring gains and losses totaled CNY 6,497,053.81 after tax adjustments[10] Inventory and Current Assets - Inventory increased by 61.76% compared to the beginning of the period, due to increased purchases for contract projects[20] - The company’s inventory stood at 56,608,748.50 CNY, indicating a potential area for operational efficiency improvements[57] Financial Reporting Changes - The company has implemented new financial and revenue recognition standards starting in 2019, which may affect financial reporting and analysis going forward[55] - The report for the third quarter was not audited[64] - The company has not applied the new financial instrument or leasing standards for retrospective adjustments[64]

Financial Performance - Total operating revenue for the first half of 2019 was CNY 194,974,896.54, representing a 72.65% increase compared to CNY 112,929,233.98 in the same period last year[19]. - Net profit attributable to shareholders was CNY 9,915,577.76, up 35.84% from CNY 7,299,445.81 year-on-year[19]. - Net profit after deducting non-recurring gains and losses decreased by 47.86% to CNY 3,492,304.98 from CNY 6,697,931.94 in the previous year[19]. - Basic earnings per share increased by 32.94% to CNY 0.0795 from CNY 0.0598 year-on-year[19]. - The company reported a significant increase in construction in progress, rising to CNY 48,760,910.91 from CNY 24,424,088.97, a growth of 99.8%[114]. - The total comprehensive income for the first half of 2019 was CNY 9,356,254.61, compared to CNY 8,642,591.06 in the same period of 2018, representing an increase of approximately 8.23%[126]. - The company reported a significant loss in the current period, with minority shareholders bearing losses exceeding their equity share in the subsidiary[158]. Cash Flow - The net cash flow from operating activities was CNY 14,194,763.66, a significant recovery from a negative cash flow of CNY -30,106,054.44 in the same period last year[19]. - Cash inflows from operating activities amounted to CNY 118,140,440.95, up from CNY 100,900,659.35 in the first half of 2018, marking a growth of approximately 17.00%[127]. - The net cash flow from investing activities was negative at CNY -73,481,772.23, worsening from CNY -49,241,673.36 in the same period last year[129]. - The company’s cash inflow from financing activities was CNY 29,400,000.00, a decrease from CNY 32,991,500.00 in the first half of 2018[129]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,048,223,225.41, a 1.21% increase from CNY 1,035,700,312.73 at the end of the previous year[19]. - Total liabilities decreased to CNY 470,842,341.35 from CNY 486,708,196.07, a decline of 3.3%[115]. - Total equity increased to CNY 577,380,884.06 from CNY 548,992,116.66, reflecting a growth of 5.2%[115]. - Current assets totaled CNY 915,883,129.53 as of June 30, 2019, a decrease of 1.4% from CNY 929,205,419.59 on December 31, 2018[113]. Investments and Projects - The total amount of new contracts signed during the reporting period reached RMB 425 million, primarily involving LNG liquefaction and air separation devices[33]. - The company has ongoing construction projects with an investment of RMB 48.76 million in progress as of the end of the reporting period[42]. - The natural gas liquefaction capacity expansion project has a total investment commitment of CNY 4,410 million, with 76.90% of the investment completed by the end of the reporting period[49]. - The deep cold liquefaction technology research center project has a total investment commitment of CNY 5,320 million, with only 32.18% of the investment completed[49]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 10,287[97]. - The largest shareholder, Xie Lemin, holds 12.89% of the shares, totaling 16,077,115 shares[98]. - The company’s shareholding structure includes 48.27% of limited shares and 51.73% of unrestricted shares after the recent changes[92]. - The company has a stock incentive plan that granted 3.2 million restricted shares, with 3 million shares granted initially[72]. Corporate Governance and Compliance - The company has not engaged in any major related party transactions during the reporting period[74]. - The company has not experienced any penalties or rectification situations during the reporting period[70]. - The company has not encountered any media scrutiny during the reporting period[69]. - The company did not engage in any derivative investments or entrust loans during the reporting period[54][55]. Research and Development - The company is actively promoting hydrogen-related technologies and has obtained a patent for a liquid hydrogen storage tank during the reporting period[34]. - Research and development expenses increased to CNY 7,250,338.19, representing a 25.0% rise from CNY 5,804,388.83 in the previous year[122]. Accounting Policies - The financial statements are prepared based on the going concern principle, indicating the company has the ability to continue operations for the next 12 months[148]. - The company’s financial statements comply with the requirements of the enterprise accounting standards, reflecting the financial position, operating results, and cash flows accurately[149]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[154]. Risks and Challenges - The company faces a significant risk with accounts receivable, which remains high, potentially impacting asset quality and financial status if not collected timely[60]. - The company has provided guarantees for Longtian Company's bank loans up to 150 million yuan, which could adversely affect cash flow and financial status if the projects do not meet expectations[60].

Financial Performance - Total revenue for Q1 2019 reached ¥65,179,230.55, an increase of 84.19% compared to ¥35,386,094.91 in the same period last year[9] - Net profit attributable to shareholders was ¥3,417,204.20, a significant recovery from a loss of ¥4,199,164.15 in the previous year[9] - Basic earnings per share improved to ¥0.0274 from a loss of ¥0.0337 per share in the same period last year[9] - Operating profit for Q1 2019 was ¥3,641,947.02, recovering from a loss of ¥4,453,157.42 in Q1 2018[40] - Net profit for Q1 2019 was ¥2,875,694.20, compared to a net loss of ¥4,438,777.42 in the previous year, marking a turnaround[40] - The company's net profit for Q1 2019 was CNY 4,285,480.46, a significant recovery from a net loss of CNY 6,009,201.35 in the same period last year, marking a turnaround of over 171%[45] - Operating profit for the quarter was CNY 5,037,366.17, compared to an operating loss of CNY 6,016,581.35 in Q1 2018, indicating a positive shift in operational performance[45] Assets and Liabilities - Total assets increased by 3.55% to ¥1,072,512,409.45 from ¥1,035,700,312.73 at the end of the previous year[9] - Current assets increased to CNY 958,252,572.69 as of March 31, 2019, up from CNY 929,205,419.59 at the end of 2018, representing a growth of approximately 3.1%[33] - Total liabilities rose to CNY 515,387,437.68 from CNY 486,708,196.07, indicating an increase of approximately 5.4%[35] - Total liabilities increased to ¥485,055,353.12 from ¥464,038,846.54 year-over-year, reflecting a growth of 4.3%[40] - Total equity rose to ¥529,576,235.11, up from ¥524,933,593.74, indicating a slight increase of 0.5%[40] - The company reported a total liability of CNY 486,708,196.07, with current liabilities at CNY 485,300,196.07[56] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of ¥15,621,411.08, an improvement from a net outflow of ¥35,945,066.67 in the previous year[9] - Cash and cash equivalents decreased to CNY 167,002,210.74 from CNY 214,420,765.61, a decline of about 22.1%[33] - The company reported a net cash outflow from operating activities of CNY -15,621,411.08, an improvement from CNY -35,945,066.67 in the same quarter last year[46] - Total cash outflow from investing activities was CNY 54,866,310.06, compared to CNY 80,000,000.00 in the previous year, indicating a reduction in investment spending[48] - The company raised CNY 20,000,000.00 through borrowings during the quarter, contributing to a net cash inflow from financing activities of CNY 23,426,365.01[48] Operational Highlights - The company reported a 62% increase in operating costs, correlating with the rise in revenue due to increased contract execution[18] - New contracts signed during the reporting period amounted to approximately ¥130 million, including projects for liquid air separation devices and a liquefaction plant for urban gas reserves[19] - The company plans to continue focusing on deep cold technology and clean energy, targeting natural gas, methane-rich gas, industrial gases, and hydrogen energy sectors, aiming to become a one-stop solution provider for the clean energy and industrial gas industry[21] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[40] - The company plans to continue focusing on market expansion and product development to enhance future growth prospects[45] Risks and Challenges - The company reported a significant risk related to accounts receivable, with a large balance that could adversely affect asset quality and financial status if not collected in a timely manner[21] - The company's fundraising projects, including the natural gas liquefaction capacity expansion and deep cold liquefaction technology R&D center, are expected to be completed by the end of 2019 to early 2020, with potential risks of increased depreciation and amortization impacting profit levels[22] Company Structure and Changes - The establishment of "Chengdu Deep Cold Clean Energy Development Co., Ltd." contributed to a 35.90% increase in minority interests, with a registered capital of ¥10 million[18] - The company established "Chengdu Deep Cold Clean Energy Development Co., Ltd." with a registered capital of ¥10 million, holding a 51% stake, and signed a cooperation agreement with PDC in the U.S. for hydrogen refueling station compressors[19] - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[27][28] Research and Development - Research and development expenses for Q1 2019 were ¥3,460,870.95, an increase of 28.4% from ¥2,694,605.75 in Q1 2018[40] - The company incurred research and development expenses of CNY 2,761,770.23, an increase of 32% compared to CNY 2,093,805.62 in Q1 2018, reflecting a commitment to innovation[45]

Financial Performance - The company's operating revenue for 2018 was ¥342,829,367.19, representing a 43.11% increase compared to ¥239,550,930.96 in 2017[18]. - The net profit attributable to shareholders for 2018 was -¥116,750,324.23, a decrease of 705.47% from ¥19,282,583.15 in the previous year[18]. - The net cash flow from operating activities was -¥68,956,591.51, which is a 213.86% increase in cash outflow compared to -¥21,970,448.45 in 2017[18]. - The total assets at the end of 2018 amounted to ¥1,035,700,312.73, reflecting a 7.59% increase from ¥962,608,715.00 at the end of 2017[18]. - The net assets attributable to shareholders decreased by 17.08% to ¥536,852,212.52 from ¥647,406,165.65 in 2017[18]. - The company reported a significant increase in sales expenses, which rose by 55.70% to CNY 14,477,255.40 in 2018 from CNY 9,298,235.18 in 2017, attributed to increased contract volume and revenue[48]. - The total operating costs for 2018 amounted to CNY 250,988,288.17, representing a 47.19% increase compared to CNY 170,523,957.26 in 2017[45]. - The company reported a net loss of CNY 115,812,236.33, compared to a net profit of CNY 20,774,416.01 in the previous year, indicating a significant decline in profitability[192]. - The total owner's equity decreased from CNY 658,607,981.89 to CNY 548,992,116.66, indicating a decline of approximately 16.6%[186]. Revenue and Sales - The company achieved operating revenue of CNY 342.83 million, an increase of 43.11% compared to the previous year[35]. - The total value of new contracts signed during the reporting period was approximately CNY 768 million, mainly involving LNG and air separation devices[36]. - The company’s LNG device sales accounted for 67.18% of total revenue, with a year-on-year increase of 19.85%[40]. - The air separation device sales saw a significant increase of 161.48%, contributing 12.94% to total revenue[40]. - Domestic sales accounted for 98.11% of total revenue, with a year-on-year growth of 40.57%[40]. Assets and Liabilities - The company's total liabilities increased to CNY 486,708,196.07 from CNY 304,000,733.11, representing a significant rise of about 60.2%[185][186]. - The total assets increased to CNY 988,972,440.28, up from CNY 913,419,009.78, reflecting a growth of 8.2%[189]. - Current liabilities rose to CNY 462,630,846.54, compared to CNY 277,206,492.32, marking a 67.0% increase[189]. - The company's accounts receivable increased to CNY 433,245,693.63, representing 41.83% of total assets, up from 40.00% in 2017[54]. - The company's cash and cash equivalents decreased by 190.20% to CNY -46,677,447.71 in 2018, compared to an increase of CNY 51,747,647.81 in 2017[51]. Research and Development - The company invested CNY 16.47 million in R&D, resulting in multiple new technology patents[37]. - Research and development expenses increased by 28.40% to CNY 16,466,026.60 in 2018, accounting for 4.80% of operating revenue[49]. - The company is actively pursuing research and development in hydrogen liquefaction and storage technologies, with existing patents in hydrogen production and separation[75]. Strategic Initiatives - The company plans to complete the construction of the "Natural Gas Liquefaction Capacity Expansion Project" and "Deep Cold Liquefaction Technology R&D Center Project" by the end of 2019 to early 2020[5]. - The company is focusing on enhancing its production capacity and efficiency through the construction of a new base, which will include projects aimed at expanding LNG liquefaction capacity and developing deep cold technology[74]. - The company plans to seek strategic partnerships through mergers and acquisitions to expand its business in the clean energy sector and enhance its competitive edge[75]. Governance and Management - The company has a clear governance structure with independent directors and a defined compensation policy approved by shareholders[142]. - The company has established a performance assessment system for its compensation structure, ensuring that salaries are aligned with the roles of directors and senior management[142]. - The company has appointed Zhongshen Zhonghuan Accounting Firm as its auditor, with an audit fee of 550,000 RMB and a continuous service period of 2 years[91]. - The company has not reported any penalties from securities regulatory agencies for its current or recently departed directors and supervisors[141]. Shareholder Information - The company’s total share capital increased from 80 million shares to 124.71 million shares during the reporting period due to stock incentives and capital reserve transfers[31]. - The largest shareholder, Xie Lemin, holds 12.89% of the shares, with a total of 16,077,115 shares, and has seen an increase of 5,362,915 shares during the reporting period[125]. - The company’s shareholding structure includes 48.65% of restricted shares and 51.35% of unrestricted shares[116]. Risks and Challenges - The company is facing risks related to the collection of accounts receivable, which could adversely affect asset quality and financial status if not managed properly[5]. - The increase in fixed asset depreciation and intangible asset amortization from the fundraising projects may lead to a decline in profit levels and return on equity if the projects do not generate expected benefits[5]. - The company has recognized the risk associated with accounts receivable, which could adversely affect its financial condition if not managed properly[76].