Financial Performance - The net profit attributable to shareholders of the listed company was negative, primarily due to business restructuring and risk control measures, leading to a decrease in contract order revenue [4]. - The company reported a basic earnings per share of -¥0.6130 for 2021, down from ¥0.0756 in 2020 [21]. - The weighted average return on equity was -14.25% in 2021, compared to 1.71% in 2020 [21]. - The net profit attributable to shareholders was -¥76,435,676.49 in 2021, a significant decline from a profit of ¥9,427,082.87 in 2020 [21]. - The company achieved operating revenue of 533.24 million yuan in 2021, an increase of 2.80% year-on-year, but reported a net loss of 76.44 million yuan due to business restructuring and increased costs [43]. - The company's operating revenue for 2021 was ¥533,244,496.45, an increase of 2.80% compared to ¥518,723,551.37 in 2020 [21]. - The total assets at the end of 2021 were ¥1,173,039,269.66, a decrease of 2.53% from ¥1,203,465,169.75 at the end of 2020 [21]. - The company reported a significant increase in credit impairment losses and asset impairment losses compared to the same period last year [4]. - The company’s revenue from core business activities, after excluding unrelated income, was ¥531,092,565.99 in 2021 [21]. Business Strategy and Development - The company plans to focus on core business development and enhance sustainable profitability by leveraging existing resource and technological advantages [5]. - The company will promote new businesses related to hydrogen energy, industrial gases, and high-end equipment manufacturing in line with national carbon peak and carbon neutrality goals [5]. - The company aims to improve internal control mechanisms and strengthen risk management to enhance operational standards [5]. - The company will continue to invest in new product development and technology research to support future growth [5]. - The company plans to promote four major business platforms: deep cooling technology equipment manufacturing services, gas investment operations, clean energy investment operations, and transportation equipment manufacturing services [37]. - The company is actively expanding into the hydrogen energy sector, having signed a strategic cooperation agreement to develop comprehensive energy stations integrating oil, electricity, gas, and hydrogen [48]. - The company is focusing on industrial gas investment operations and special gas businesses, responding to the complex global economic situation [43]. - The company is exploring mergers and acquisitions to expand its operational scale in the gas sector, particularly in liquid air separation [96]. Research and Development - The company invested 21.79 million yuan in research and development in 2021, filing 12 invention patents and 15 utility model patents [49]. - The company has established a technical innovation management system to enhance the capabilities of its R&D personnel and maintain its technological advantage [42]. - The company has developed technologies for hydrogen production and purification, hydrogen liquefaction, and helium extraction, focusing on high-end equipment manufacturing and industrial gas [37]. - The company is actively investing in hydrogen production and liquefaction projects, focusing on energy-saving and emission-reduction initiatives in traditional coal chemical industries [97]. - The company is developing integrated charging stations and distributed energy equipment, with new contracts worth approximately 41.6 million yuan signed for these projects [46]. Financial Management and Capital Structure - The company has increased borrowing due to a significant cash flow deficit during the reporting period [4]. - The company plans to not distribute cash dividends, issue bonus shares, or convert reserves into share capital [6]. - The company raised a total of RMB 496,080,000 by issuing 36,000,000 shares at a price of RMB 13.78 per share, with a net amount of RMB 487,896,485.96 after deducting issuance costs [50]. - The company has a remaining balance of 118.65 million yuan from its fundraising, accounting for 0.40% of the total raised funds [88]. - The company has not made any cash dividend payments or share buybacks during the reporting period [148]. Market and Industry Trends - The natural gas consumption in China grew by 12.7% in 2021, indicating a strong market potential for the company [31]. - The company anticipates significant growth opportunities in the natural gas sector due to increasing government focus on clean energy and carbon neutrality [31]. - The market for industrial gases and air separation equipment is rapidly growing, driven by the development of new energy, electronics, and semiconductor industries [32]. - Sichuan Shudao Equipment Technology is focusing on expanding its market presence, particularly in the medical gas equipment sector, which is projected to grow by 20% annually [123]. Corporate Governance and Management - The company has established a sound corporate governance system, ensuring compliance with laws and regulations [154]. - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements [104]. - The company maintained complete independence in assets, personnel, finance, organization, and business from its controlling shareholder [108]. - The company has a complete personnel management system, independent of the controlling shareholder, with no dual positions held by senior management [109]. - The company has a structured salary system that includes fixed and variable components for its directors and senior management [130]. Employee Management and Development - The total number of employees at the end of the reporting period was 355, including 285 at the parent company and 70 at major subsidiaries [145]. - The company has established a performance management system linked to a flexible compensation system to ensure employee interests are protected [146]. - The company plans to enhance its training management system in 2022, focusing on various training programs to improve employee skills and management capabilities [147]. - The company has maintained a commitment to protecting the rights and interests of female employees, organizing health check-ups and consultations [160]. Risks and Challenges - The company faces risks related to accounts receivable management, with a significant balance that could impact asset quality if not collected timely [99]. - The company is addressing the challenges of expanding new business sectors by enhancing internal control mechanisms and risk management practices [99]. - The company has not reported any penalties from securities regulatory agencies for its directors, supervisors, and senior management in the last three years [129]. Environmental and Sustainability Initiatives - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by 30% over the next five years [123]. - The company has established an environmental management system in accordance with GB/T 24001-2016 / IS014001:2015 standards and has obtained the Environmental Management System Certification [157].

Financial Performance - The company's operating revenue for Q1 2022 was ¥51,470,080.17, representing a 51.86% increase compared to ¥33,893,883.38 in the same period last year[3] - Net profit attributable to shareholders was ¥15,273,460.06, a significant increase of 381.07% from a loss of ¥5,434,092.95 in the previous year[3] - The basic earnings per share rose to ¥0.1027, compared to a loss of ¥0.0436 per share in the same period last year, marking a 335.55% improvement[3] - Operating profit for Q1 2022 was ¥19,957,984.69, a significant recovery from a loss of ¥5,697,703.06 in Q1 2021[19] - Net profit for Q1 2022 was ¥16,913,126.98, compared to a net loss of ¥5,714,880.34 in the previous year[19] Assets and Liabilities - Total assets increased by 29.92% to ¥1,524,050,737.65 from ¥1,173,039,269.66 at the end of the previous year[3] - Total assets increased to ¥1,524,050,737.65, up from ¥1,173,039,269.66 year-on-year[18] - Total liabilities decreased to ¥487,053,503.84 from ¥641,235,304.00 in the previous year[18] - As of March 31, 2022, the company's total current assets reached ¥1,058,054,120.24, an increase from ¥945,080,499.69 at the beginning of the year, representing a growth of approximately 11.93%[16] Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥37,797,932.35, worsening by 86.09% compared to the previous year's outflow of ¥20,311,977.68[3] - Cash inflow from operating activities was ¥84,361,076.80, compared to ¥40,591,758.16 in the same period last year[21] - The net cash flow from operating activities was -37,797,932.35 CNY, compared to -20,311,977.68 CNY in the previous period, indicating a decline in operational cash flow[22] - The net cash flow from investing activities was -240,264,761.66 CNY, significantly higher than -1,623,197.91 CNY in the previous period, reflecting increased investment outflows[22] - The net cash flow from financing activities was 352,754,024.88 CNY, compared to 53,270,944.45 CNY in the previous period, showing a substantial increase in financing inflows[22] - The total cash and cash equivalents at the end of the period amounted to 156,829,396.42 CNY, up from 75,509,876.99 CNY in the previous period, indicating improved liquidity[22] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 15,473, with the largest shareholder holding 29.95% of the shares[9] - The company completed a private placement of shares, resulting in an increase of 48,133,561 shares held by the controlling shareholder, accounting for 29.95% of the total share capital post-placement[13] Brand and Strategic Positioning - The company changed its name to Sichuan Shudao Equipment Technology Co., Ltd. to better reflect its strategic positioning and business layout[14] - The company has received authorization to use the "Shudao" brand, enhancing its brand influence for future development[13] - The company plans to leverage its new brand identity to drive transformation and growth in its business operations[13] Research and Development - Research and development expenses for Q1 2022 were ¥4,024,526.71, an increase from ¥3,302,013.26 in Q1 2021[19] Other Financial Metrics - The weighted average return on equity improved to 2.02%, up from -0.96% in the same period last year[3] - The company reported a significant increase in interest income by 656.08%, attributed to higher deposits compared to the same period last year[7] - The company reported a total of ¥401,213,331.10 in contract assets, unchanged from the beginning of the year[16] - Non-current assets included long-term equity investments of ¥167,841.66, remaining stable compared to the previous period[16] - The company’s inventory slightly decreased to ¥108,134,271.23 from ¥109,199,946.74, a reduction of about 0.97%[16] Audit and Reporting - The company did not undergo an audit for the first quarter report, which may affect the perception of financial reliability[23] - The report was released by the board of directors on April 18, 2022, indicating timely communication of financial performance[24]

成都深冷液化设备股份有限公司 2021 年第三季度报告 证券代码：300540 证券简称：深冷股份 公告编号：2021-106 成都深冷液化设备股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度 报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 91,070,100.62 | -13.20% | 258,492,795.89 | -9 ...

Financial Performance - The company's operating revenue for the first half of 2021 was ¥167,422,695.27, a decrease of 7.80% compared to ¥181,578,741.43 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥3,946,560.06, down 57.92% from ¥9,378,003.69 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥2,892,104.48, a decline of 60.75% compared to ¥7,368,685.70 in the same period last year[22]. - The net cash flow from operating activities was -¥48,362,505.55, a significant decrease of 1,579.43% from ¥3,268,991.47 in the previous year[22]. - Basic earnings per share were ¥0.0317, down 57.85% from ¥0.0752 in the same period last year[22]. - Revenue for the reporting period was RMB 167.42 million, a decrease of 7.80% compared to the previous year, while operating costs decreased by 9.19%[50]. - The company reported a net loss of 3,740,759.79 attributed to profit distribution, which includes allocations to surplus reserves[169]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,252,538,728.84, an increase of 4.08% from ¥1,203,465,169.75 at the end of the previous year[23]. - Total liabilities as of June 30, 2021, were CNY 648,528,878.02, up from CNY 614,334,795.05 at the end of 2020[139]. - The company's equity attributable to shareholders increased to CNY 581,923,942.91 from CNY 566,877,054.61, showing a growth of about 2.7%[139]. - The total amount of new contracts signed during the reporting period was approximately RMB 85.82 million, mainly involving liquefaction devices and highway supporting equipment[42]. Research and Development - The company has established a technical innovation management system to enhance the capabilities of its R&D personnel and maintain technological advantages[34]. - Research and development investment increased by 10.88% to ¥7,723,769.12, reflecting the company's commitment to innovation[56]. - The company is focusing on the development of hydrogen liquefaction, helium extraction, and liquid air energy storage technologies, aligning with national carbon neutrality goals[31]. - The company has initiated research and development for new products aimed at increasing market competitiveness[172]. Shareholder and Control Changes - The company completed a change of control, with the controlling shareholder now being Sichuan Jiaotou Industrial Co., Ltd., and is drafting a new development strategy for the "14th Five-Year Plan"[31]. - The company underwent a change in control, resulting in the resignation of several board members and the election of new directors on February 8, 2021[77][78]. - The new controlling shareholder is Sichuan Jiaotou Industrial Co., Ltd., effective January 14, 2021[127]. Risk Management - The company has strengthened risk control measures for new contracts, leading to a decrease in new contract amounts and operating income compared to the same period last year[34]. - The company faces risks related to the collection of accounts receivable, with a significant balance that could impact asset quality and financial status if not managed effectively[71]. - The company is enhancing its accounts receivable management and debt collection strategies to mitigate financial risks[71]. Environmental and Social Responsibility - The company has established an environmental management system in compliance with GB/T 24001-2016 / ISO14001:2015 standards and has not faced any administrative penalties for environmental violations[83]. - The company is actively promoting the development of green energy projects, including LNG and hydrogen energy, and has initiated several projects in Qinghai and Ningxia[87]. Financing Activities - The company applied for a loan of 100 million CNY from its controlling shareholder, with a current balance of 70 million CNY[41]. - The company reported a substantial increase in cash flow from financing activities, amounting to ¥75,975,104.05, representing a 304.13% increase due to higher loan amounts[56]. - The company raised ¥185 million in borrowings during the first half of 2021, significantly higher than ¥28 million in the same period of 2020, indicating increased financing activities[154]. Market and Industry Trends - In 2020, China's natural gas consumption grew by 7.6%, with total production reaching 188.8 billion cubic meters, marking a 9.8% year-on-year increase[35]. - The hydrogen energy industry in China saw an investment scale of 71.2 billion CNY in 2020, with 51.5 billion CNY specifically in the fuel cell industry chain[39]. - The expected market for comprehensive energy equipment is vast, with over 150 million slow charging interfaces projected by 2035[40]. Corporate Governance - The company held three shareholder meetings during the reporting period, with participation rates of 49.45%, 29.45%, and 47.97% respectively[76]. - The company plans to implement a three-year shareholder return plan (2021-2023) to ensure appropriate returns to shareholders based on its profitability and operational needs[84].

Financial Performance - The company's operating revenue for Q1 2021 was ¥33,893,883.38, representing a 3.68% increase compared to ¥32,690,533.97 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥5,293,051.17, an improvement from a loss of ¥9,639,501.69 in the previous year[8] - The net cash flow from operating activities was a negative ¥20,311,977.68, which is an improvement from a negative ¥39,914,011.84 in the same period last year[8] - The basic earnings per share for the period was -¥0.0424, an improvement from -¥0.0773 in the same period last year[8] - The weighted average return on net assets was -0.94%, an improvement from -1.79% in the previous year[8] - The net profit for the period was CNY -5,434,092.95, indicating a loss[18] - Total operating revenue for Q1 2021 was CNY 33,893,883.38, an increase of 3.66% compared to CNY 32,690,533.97 in Q1 2020[40] - Net loss for Q1 2021 was CNY 5,555,211.23, an improvement from a net loss of CNY 9,921,289.50 in Q1 2020[41] - The total comprehensive income for the period was -¥4,934,883.98, an improvement from -¥8,934,896.22 in the previous year[45] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,251,983,875.83, reflecting a 4.03% increase from ¥1,203,465,169.75 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 0.86% to ¥562,007,710.32 from ¥566,877,054.61 at the end of the previous year[8] - Accounts payable increased by 230.41% compared to the beginning of the period, primarily due to an increase in issued notes[17] - Employee compensation payable decreased by 96.82% compared to the beginning of the period, mainly due to the payment of accrued employee compensation[17] - Other payables increased by 124.01% compared to the beginning of the period, mainly due to loans from JiaoTuo Industrial[17] - Total liabilities increased to CNY 601,825,874.19 from CNY 540,365,855.30, marking an increase of 11.4%[39] - The total equity attributable to shareholders decreased to CNY 544,848,717.37 from CNY 549,359,894.47, a decline of 0.93%[39] Cash Flow - The cash inflow from operating activities increased by 49.86% year-on-year, mainly due to increased cash received from sales of goods and services[17] - The company reported a significant increase in cash inflow from operating activities, totaling ¥40,591,758.16, compared to ¥27,085,999.92 in the previous year[48] - The net cash flow from operating activities was -35,951,669.83 yuan, an improvement from -39,655,019.56 yuan in the previous period, indicating a reduction in cash outflow[50] - 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[50] - Cash outflow from operating activities increased to 70,380,028.24 yuan from 62,798,273.17 yuan, representing a 11.5% rise[50] - The net cash flow from investing activities was -1,623,197.91 yuan, an improvement from -35,494,030.21 yuan in the previous period[50] - Cash inflow from financing activities was 55,000,000.00 yuan, significantly higher than 20,000,000.00 yuan in the previous period, marking a 175% increase[52] - 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[52] - The ending balance of cash and cash equivalents was 45,301,340.06 yuan, up from 33,029,866.56 yuan in the previous period, reflecting a 37.1% increase[52] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 10,357[11] - The largest shareholder, Sichuan Jianyang Portong Economic and Technological Development Co., Ltd., held 10.67% of the shares[11] - After the transfer of shares, JiaoTuo Industrial holds 12,133,561 shares, accounting for 9.73% of the total share capital, and controls 29.45% of the voting rights[18] Expenses and Investments - Management expenses increased by 66.36% year-on-year, attributed to increased depreciation and related costs due to significant fixed asset growth[17] - Interest expenses rose by 104.71% year-on-year due to an increase in loans compared to the same period last year[17] - The company reported a significant increase in research and development expenses to CNY 3,302,013.26 from CNY 3,117,378.64, indicating a focus on innovation[41] - Research and development expenses for the quarter were ¥2,752,450.24, up from ¥2,426,099.42 in the same period last year, reflecting ongoing investment in innovation[44] Government Support and Compliance - The company received government subsidies amounting to ¥262,996.85 during the reporting period[9] - The company has no significant changes in project feasibility or any non-operating fund occupation by controlling shareholders during the reporting period[26][27] - There are no issues with the use and disclosure of raised funds[25] - The company did not undergo an audit for the first quarter report[53] - The company has not applied the new leasing standards for the first quarter of 2021[53]

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]