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].

成都深冷液化设备股份有限公司 2018 年第三季度报告全文 成都深冷液化设备股份有限公司 2018 年第三季度报告 2018-057 2018 年 10 月 1 成都深冷液化设备股份有限公司 2018 年第三季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人谢乐敏、主管会计工作负责人曾斌及会计机构负责人(会计主管 人员)曾斌声明：保证季度报告中财务报表的真实、准确、完整。 2 成都深冷液化设备股份有限公司 2018 年第三季度报告全文 第二节 公司基本情况 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增 | | --- | --- | --- | --- | --- | | | | | | 减 | | 总资产（元） | 1,102,019,302.27 | | 962,608,715.00 | 14.48% | | 归属于上 ...

Financial Performance - Total revenue for the first half of 2018 was CNY 112,929,233.98, a decrease of 10.54% compared to CNY 126,232,482.85 in the same period last year[19]. - Net profit attributable to shareholders was CNY 7,299,445.81, down 1.71% from CNY 7,426,435.43 year-on-year[19]. - Net profit after deducting non-recurring gains and losses surged by 307.66% to CNY 6,697,931.94 from CNY 1,643,031.41 in the previous year[19]. - The company achieved operating revenue of 112.93 million yuan, a decrease of 10.54% compared to the same period last year[30]. - The net profit attributable to shareholders was 7.30 million yuan, down 1.71% year-on-year[30]. - The net profit for the current period is CNY 6,592,722.57, a decrease of 9.2% compared to CNY 7,265,796.09 in the previous period[124]. - The net profit for the current period is ¥8,642,591.06, compared to ¥8,022,752.74 in the previous period, indicating an increase of about 7.7%[128]. Cash Flow and Liquidity - The company reported a net cash flow from operating activities of CNY -30,106,054.44, an improvement from CNY -42,123,389.38 in the same period last year[19]. - Cash flow from operating activities improved, with a net cash flow of -30.11 million yuan, a 28.53% reduction in losses compared to the previous year[35]. - The company’s cash and cash equivalents increased by 196.87% year-on-year, totaling -51.15 million yuan[35]. - The cash flow from operating activities shows a net outflow of ¥30,106,054.44, an improvement from a net outflow of ¥42,123,389.38 in the previous period[130]. - The total operating cash inflow for the current period is ¥100,900,659.35, compared to ¥53,964,080.74 in the previous period, representing an increase of approximately 86.8%[130]. - The company distributed dividends and interest payments totaling 4,791,633.80 CNY, down from 8,000,000.00 CNY, reflecting a conservative approach to cash distribution[136]. Assets and Liabilities - Total assets increased by 5.65% to CNY 1,017,039,662.47 from CNY 962,608,715.00 at the end of the previous year[19]. - The total assets amount to CNY 960,266,009.31, an increase from CNY 913,419,009.78 at the beginning of the period[120]. - The total liabilities of the company increased to CNY 355,183,660.62 from CNY 304,000,733.11, reflecting a rise of approximately 16.8%[115]. - The total liabilities increased to CNY 320,163,603.40 from CNY 278,614,492.32, representing a rise of 14.9%[120]. - The company's equity attributable to shareholders reached CNY 651,360,908.85, slightly up from CNY 647,406,165.65, showing a marginal increase of about 0.4%[116]. Investment and Capital Expenditure - The company has committed a total of 29,730 million CNY for investment projects, with 19,200 million CNY utilized by the end of the reporting period, achieving a utilization rate of 96%[44]. - The company has allocated 4,410 million CNY for the natural gas liquefaction facility project and 5,320 million CNY for the deep cold liquefaction technology research center project, both of which are on track[44]. - The company has invested 20,000 million CNY to supplement its working capital, with 19,200 million CNY utilized, indicating a 96% utilization rate[44]. - The company reported a total investment cash outflow of 130,194,655.00 CNY, down from 170,042,427.00 CNY, indicating a reduction in capital expenditures[136]. Research and Development - The company continues to focus on research in gas low-temperature liquefaction and separation technology, with a commitment to expanding its product offerings in the LNG and liquid air separation sectors[26]. - Four new invention patents and eight utility model patents were added, including technologies for LNG production and gas separation[33]. - The company is focusing on technological advancements and innovation to enhance its competitive edge in the market[146]. Corporate Governance and Shareholder Information - The company held its first extraordinary general meeting of 2018 on April 9, with an investor participation rate of 61.34%[59]. - The annual general meeting in 2017 had a participation rate of 42.30%[59]. - The company has implemented a restricted stock incentive plan, granting 3.2 million shares, with an initial grant of 3 million shares at a price of 10.65 CNY per share[66]. - A total of 2,910,000 CNY was added to the registered capital, with shareholders contributing 30,991,500 CNY in cash[67]. - The company’s total share capital after the stock incentive plan is 82.91 million shares[67]. - The total number of common shareholders at the end of the reporting period is 12,704[94]. - The largest shareholder, Xie Lemin, holds 12.92% of shares, totaling 5,362,915 shares[94]. Risk Management - The company has identified potential risks and has outlined corresponding mitigation strategies in its report[5]. - The company faces risks related to the timely collection of accounts receivable, which may impact asset quality and financial status[56]. Future Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[146]. - The company has set a performance guidance for the next quarter, aiming for a revenue growth of 10%[146]. - Future outlook includes potential market expansion and new product development, although specific figures were not provided in the report[136].

Financial Performance - Total operating revenue for Q1 2018 was ¥35,386,094.91, an increase of 44.58% compared to ¥24,474,430.14 in the same period last year[8] - Net profit attributable to shareholders was -¥4,199,164.15, a 13.32% improvement from -¥4,844,324.12 year-on-year[8] - The company achieved operating revenue of 35,386,094.91 yuan, an increase of 44.58% year-on-year, with a net profit of -4,199,164.15 yuan[17] - The net loss for Q1 2018 was CNY 4,438,777.42, compared to a net loss of CNY 5,220,336.31 in the same period last year, showing an improvement of approximately 15%[40] - The company reported a total comprehensive loss of CNY -4,438,777.42, compared to CNY -5,220,336.31 in the same period last year, reflecting a reduction in losses of about 15%[41] Cash Flow - Net cash flow from operating activities was -¥35,945,066.67, a decrease of 20.33% compared to -¥29,871,055.90 in the previous year[8] - Cash flow from operating activities was CNY 35,902,750.77, significantly higher than CNY 14,122,948.61 in the previous period, indicating a growth of approximately 153%[46] - The net cash flow from operating activities was -35,945,066.67 yuan, compared to -29,871,055.90 yuan in the previous period, indicating a decline in operational cash flow[47] - The total cash outflow from operating activities was 72,979,899.19 yuan, compared to 51,698,754.31 yuan in the previous period[47] - The cash inflow from sales of goods and services was 26,105,720.77 yuan, significantly higher than 9,377,431.91 yuan in the previous period[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥986,652,123.42, reflecting a 2.50% increase from ¥962,608,715.00 at the end of the previous year[8] - Total current assets increased to ¥929,371,921.84 from ¥904,764,640.89, representing a growth of approximately 2.7%[31] - Total liabilities increased to ¥332,162,947.43 from ¥304,000,733.11, marking an increase of about 9.3%[33] - The total equity decreased to CNY 631,209,093.25 from CNY 634,804,517.46, a decline of about 0.6%[40] Operating Costs and Expenses - The company experienced a 44.20% increase in operating costs, aligning with the rise in operating revenue[16] - Total operating costs for Q1 2018 were CNY 39,839,252.33, up from CNY 32,188,354.10 in the previous period, indicating an increase of about 23.6%[39] - The company reported a decrease in sales expenses to CNY 1,422,085.35 from CNY 1,548,425.57, a reduction of about 8.2%[40] Orders and Contracts - In Q1 2018, the company signed new orders totaling 305 million yuan, showing significant growth compared to the same period last year[17] - Major new orders include projects for methane deep cooling separation and liquefaction, a 1 million cubic meter per day pipeline natural gas liquefaction project, and a 6000 full liquid air separation device[17] Other Financial Information - The company has accumulated a total of 19,200,000 yuan from fundraising, representing 96.00% of the planned investment[24] - The company has proposed a stock incentive plan to grant 3.2 million restricted shares, with 3 million shares to be granted initially[20] - The company received tax refunds amounting to 72,649.58 yuan during the reporting period[47] - The company did not conduct an audit for the first quarter report[52]

Financial Performance - The company's operating revenue for 2017 was CNY 239,550,930.96, a decrease of 22.24% compared to CNY 308,072,671.22 in 2016[17]. - The net profit attributable to shareholders for 2017 was CNY 19,282,583.15, down 50.03% from CNY 38,588,744.72 in the previous year[17]. - The net profit after deducting non-recurring gains and losses was CNY 5,547,826.21, a decline of 82.51% compared to CNY 31,720,544.18 in 2016[17]. - Basic earnings per share decreased by 58.36% to CNY 0.2410 from CNY 0.5788 in 2016[17]. - The total operating cost for 2017 was CNY 170,523,957.26, which is a decrease of 15.54% from CNY 201,907,633.33 in 2016[49]. - The company reported a significant reduction in sales expenses by 8.15% to CNY 9,298,235.18, while management expenses decreased by 6.62% to CNY 32,303,960.18[53]. - The company's total liabilities increased to CNY 304,000,733.11 from CNY 262,762,307.88, representing a rise of about 15.7%[200]. Assets and Liabilities - Total assets at the end of 2017 were CNY 962,608,715.00, an increase of 6.07% from CNY 907,520,055.14 at the end of 2016[17]. - The net assets attributable to shareholders increased by 1.95% to CNY 647,406,165.65 from CNY 635,047,763.88 in 2016[17]. - Current assets totaled CNY 904,764,640.89, up from CNY 851,772,234.66, indicating an increase of approximately 6.2%[198]. - The cash and cash equivalents rose to CNY 229,836,550.66 from CNY 177,371,858.92, marking a significant increase of about 29.6%[197]. - Accounts receivable increased to CNY 385,035,410.60 from CNY 380,350,931.63, showing a slight growth of around 1.8%[198]. - The total current liabilities increased to CNY 302,592,733.11 from CNY 261,354,307.88, reflecting a rise of about 15.8%[199]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares, totaling CNY 4,000,000, based on 80,000,000 shares[4]. - The company reported a cash dividend of 0.5 yuan per 10 shares, totaling 4 million yuan, with a cash dividend payout ratio of 20.74% of the net profit attributable to shareholders[85][89]. - The company has maintained a consistent profit distribution policy, with no dividends in 2015, 8 million yuan in 2016, and 4 million yuan in 2017[86][89]. Contracts and Projects - The total amount of new contracts signed during the reporting period was 305 million yuan, primarily involving natural gas liquefaction devices and LNG gas stations[39]. - The company successfully launched several projects, including a natural gas liquefaction device for Beihai City and a coal gas liquefaction project for Inner Mongolia Yuantong Coal Chemical Group[38]. - The company signed a significant sales contract for a natural gas liquefaction project with a processing capacity of 1 million cubic meters per day, which is currently under construction and expected to be operational in 2018[47]. Research and Development - Research and development investment for 2017 amounted to CNY 12,820,000, resulting in the acquisition of 3 invention patents and 7 utility model patents[42]. - R&D investment amounted to ¥12,824,205.10 in 2017, representing 5.35% of operating revenue, an increase from 4.69% in 2016[54]. - The company aims to develop new products and technologies, including modular design for small LNG units, which can reduce construction time by 3-6 months compared to traditional assembly methods[74]. Market Position and Industry Trends - The natural gas consumption in China reached 235.2 billion cubic meters in 2017, with a year-on-year growth of 17%[28]. - The company is positioned to benefit from national policies promoting natural gas as a key clean energy source, aiming for a 10% share in primary energy consumption by 2020[28]. - In 2017, China's natural gas demand increased by 31 billion cubic meters, a growth of 15% compared to 2016, with total LNG demand reaching 38 million tons, making China the second-largest LNG importer globally[71]. - The global LNG market size grew by 29 million tons by the end of 2017, with liquefaction capacity expansion completed at 45%[71]. Corporate Governance and Management - The company has maintained a stable management team with no changes in the positions of directors, supervisors, and senior management during the reporting period[141]. - The independent directors attended all board meetings and shareholder meetings, with no objections raised against company matters[167][168]. - The company has established a performance evaluation system for senior management, linking their performance directly to compensation[173]. - The audit committee reviewed internal control and related party transactions, ensuring compliance and effective oversight[170]. Employee and Labor Relations - The total number of employees in the company is 256, with 197 in the parent company and 59 in major subsidiaries[152]. - The company has a professional composition of 80 production personnel, 69 sales personnel, 68 technical personnel, 8 financial personnel, and 31 administrative personnel[152]. - The company has implemented a salary system based on responsibility, ability, and performance to encourage employee contributions[154]. - The company has a 100% labor contract signing rate for employees during the reporting period[154]. Audit and Compliance - The audit opinion issued was a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position and results of operations[179]. - The company had zero significant deficiencies in internal controls for both financial and non-financial reports during the reporting period[179]. - The management is responsible for ensuring the financial statements are prepared in accordance with accounting standards and maintaining necessary internal controls[188].

[Important Notice](index=2&type=section&id=Section%20I%20Important%20Notice) The Board of Directors and management confirm the truthfulness and completeness of this quarterly report [Board of Directors' Statement](index=2&type=section&id=1.1%20Board%20of%20Directors'%20Statement) The Board of Directors, Supervisory Board, and all senior management affirm the truthfulness, accuracy, and completeness of this quarterly report - Company management confirms the truthfulness, accuracy, and completeness of the quarterly report[5](index=5&type=chunk) - Company head Xie Lemin, chief accountant Zeng Bin, and head of accounting department Zeng Bin ensure the financial statements are true, accurate, and complete[6](index=6&type=chunk) [Company Profile](index=3&type=section&id=Section%20II%20Company%20Profile) The company's Q3 2017 financial performance shows a significant decline in revenue and net profit, while shareholder structure indicates a concentrated ownership by the controlling shareholder and related parties [Key Accounting Data and Financial Indicators](index=3&type=section&id=II.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) As of Q3 2017, total assets were CNY 904 million, with revenue at CNY 160 million and net profit at CNY 10.37 million, both significantly declining due to reduced contracts | Item | Year-Beginning to Period-End | YoY Change from Year-Beginning to Period-End (%) | | :--- | :--- | :--- | | Operating Revenue (CNY) | 159,641,272.68 | -38.54% | | Net Profit Attributable to Shareholders of Listed Company (CNY) | 10,372,041.73 | -70.71% | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) (CNY) | 4,535,615.54 | -86.86% | | Basic Earnings Per Share (CNY/share) | 0.13 | -77.19% | | Weighted Average Return on Net Assets (%) | 1.63% | -8.60% | | Net Cash Flow from Operating Activities (CNY) | -60,183,914.65 | N/A | Non-Recurring Gains and Losses (Year-Beginning to Period-End) | Item | Amount (CNY) | | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 6,961,711.89 | | Net Other Non-Operating Income/Expenses | -38,221.93 | | Income Tax Impact | -1,038,523.49 | | Impact on Minority Interests (After Tax) | -48,540.28 | | **Total** | **5,836,426.19** | [Shareholder Information](index=4&type=section&id=II.%20Total%20Shareholders%20and%20Top%20Ten%20Shareholders'%20Holdings%20at%20Period-End) As of the reporting period, the company had 12,015 common shareholders, with controlling shareholder Xie Lemin and his concerted parties holding a significant stake - At the end of the reporting period, the company had **12,015** common shareholders[13](index=13&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholding Percentage | Number of Shares Held | Number of Restricted Shares Held | | :--- | :--- | :--- | :--- | | Xie Lemin | 13.39% | 10,714,200 | 10,714,200 | | Sichuan Jianyang Gangtong Economic and Technological Development Co., Ltd. | 11.38% | 9,107,100 | 5,919,615 | | Wuxi Chuxiang Jiaxin Investment Enterprise (Limited Partnership) | 8.04% | 6,428,600 | 0 | | Duilong Chuxiang Hengtong Investment Enterprise (Limited Partnership) | 5.02% | 4,017,900 | 0 | | Wen Xiangnan | 4.02% | 3,214,300 | 3,214,300 | | Huang Su | 4.02% | 3,214,300 | 3,214,300 | | Cheng Yuan | 4.02% | 3,214,300 | 3,214,300 | | Xiao Huihe | 3.35% | 2,678,600 | 2,678,600 | | Cui Zhixiang | 3.01% | 2,410,700 | 2,410,700 | | Zhang Jianhua | 3.01% | 2,410,700 | 2,410,700 | - Shareholder relationship explanation: Xie Lemin is the company's controlling shareholder, and Wen Xiangnan, Cheng Yuan, Huang Su, Xiao Huihe, Zhang Jianhua, Cui Zhixiang are his concerted parties; Wuxi Chuxiang Jiaxin Investment Enterprise and Duilong Chuxiang Hengtong Investment Enterprise are related parties[14](index=14&type=chunk) - During the reporting period, **24,080,385** restricted shares from the initial public offering held by some shareholders were released from lock-up[16](index=16&type=chunk) [Significant Events](index=6&type=section&id=Section%20III%20Significant%20Events) The company experienced significant changes in key financial data, including revenue and net profit declines, while confirming no unfulfilled commitments or illegal financial activities during the reporting period [Significant Changes in Key Financial Data and Their Causes](index=6&type=section&id=I.%20Significant%20Changes%20in%20Key%20Financial%20Data%20and%20Indicators%20During%20the%20Reporting%20Period%20and%20Their%20Causes) During the reporting period, key financial metrics like revenue and net profit significantly declined due to reduced contracts and lower gross margins, while cash flow was impacted by wealth management product purchases and reduced sales collections - Reasons for Balance Sheet Item Changes: - **Cash and cash equivalents** decreased by **73.33%** from the beginning of the period, primarily due to the purchase of principal-protected wealth management products[18](index=18&type=chunk) - **Other current assets** increased by **88.67%** from the beginning of the period for the same reason[18](index=18&type=chunk) - **Prepayments** increased by **78.48%** from the beginning of the period, mainly due to advance payments for procurement contracts[18](index=18&type=chunk) - **Notes payable** decreased by **47.24%** from the beginning of the period, primarily due to the maturity and payment of notes[18](index=18&type=chunk) - Reasons for Income Statement Item Changes: - **Operating revenue** decreased by **38.54%** year-on-year, mainly due to a reduction in contract volume during the reporting period[18](index=18&type=chunk) - **Net profit** decreased by **72.19%** year-on-year, primarily due to reduced operating revenue and a decline in gross profit margin[18](index=18&type=chunk) - **Financial expenses** decreased by **212.83%** year-on-year, mainly due to increased interest income from structured deposits[18](index=18&type=chunk) - **Non-operating income** increased by **411.59%** year-on-year, primarily due to the receipt of government grants[18](index=18&type=chunk) - Reasons for Cash Flow Statement Item Changes: - **Cash inflow from operating activities** decreased by **53.41%** year-on-year, mainly due to reduced cash received from sales of goods[18](index=18&type=chunk) - **Cash inflow from investing activities** was **CNY 120 million**, resulting from the maturity and redemption of principal-protected wealth management products[18](index=18&type=chunk) - **Cash outflow from investing activities** was **CNY 170 million**, primarily due to the purchase of principal-protected wealth management products[18](index=18&type=chunk) [Other Significant Matters](index=6&type=section&id=2.2%20Other%20Significant%20Matters) The company reported no significant unfulfilled commitments, illegal external guarantees, or non-operating fund occupation by controlling shareholders during the period - The company had no overdue unfulfilled commitments during the reporting period[19](index=19&type=chunk) - The company had no illegal external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[20](index=20&type=chunk)[21](index=21&type=chunk) [Financial Statements](index=8&type=section&id=Section%20IV%20Financial%20Statements) The financial statements for Q3 2017 show a decline in assets, revenue, and net profit, with negative cash flows from operations and investing activities, and the report remains unaudited [Consolidated Balance Sheet](index=8&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of September 30, 2017, the company's total assets were CNY 904 million, with total liabilities at CNY 256 million and owner's equity at CNY 638 million, showing a high proportion of accounts receivable and reduced cash due to wealth management purchases Key Items from Consolidated Balance Sheet (Unit: CNY) | Item | Period-End Balance (2017-09-30) | Period-Beginning Balance (2016-12-31) | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | 47,306,336.36 | 177,371,858.92 | | Accounts Receivable | 461,467,534.57 | 380,350,931.63 | | Inventories | 47,916,476.42 | 53,124,365.25 | | Other Current Assets | 102,167,993.29 | 54,151,460.85 | | **Total Assets** | **904,131,496.01** | **907,520,055.14** | | **Liabilities** | | | | Notes Payable | 27,147,221.07 | 51,454,885.18 | | Accounts Payable | 144,099,264.04 | 135,821,065.83 | | **Total Liabilities** | **255,915,450.69** | **262,762,307.88** | | **Owners' Equity** | | | | Total Owners' Equity Attributable to Parent Company | 638,213,389.29 | 635,047,763.88 | | **Total Liabilities and Owners' Equity** | **904,131,496.01** | **907,520,055.14** | [Consolidated Income Statement (Current Period)](index=13&type=section&id=3.%20Consolidated%20Income%20Statement%20for%20Current%20Period) In Q3 2017, the company's operating revenue was CNY 33.41 million, and net profit attributable to parent company owners was CNY 2.95 million, both significantly declining year-on-year due to reduced income Consolidated Income Statement (Q3 2017) (Unit: CNY) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 33,408,789.83 | 93,289,949.25 | | II. Total Operating Costs | 29,501,283.09 | 85,369,274.93 | | Including: Operating Costs | 19,393,080.28 | 69,252,289.00 | | Financial Expenses | -967,514.97 | 851,438.64 | | III. Operating Profit | 3,907,506.74 | 7,920,674.32 | | IV. Total Profit | 3,975,918.63 | 9,066,034.32 | | V. Net Profit | 3,398,918.29 | 7,845,707.43 | | Net Profit Attributable to Owners of Parent Company | 2,945,606.30 | 6,970,242.79 | [Consolidated Income Statement (Year-Beginning to Period-End)](index=17&type=section&id=5.%20Consolidated%20Income%20Statement%20from%20Year-Beginning%20to%20Period-End) For the first three quarters of 2017, cumulative operating revenue was CNY 160 million and net profit attributable to parent company owners was CNY 10.37 million, both significantly decreasing, with negative financial expenses due to interest income Consolidated Income Statement (Jan-Sep 2017) (Unit: CNY) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 159,641,272.68 | 259,744,094.30 | | II. Total Operating Costs | 154,068,484.10 | 216,286,233.37 | | Including: Operating Costs | 121,675,115.82 | 165,556,758.91 | | Financial Expenses | -3,009,907.11 | 2,667,628.46 | | III. Operating Profit | 5,572,788.58 | 43,457,860.93 | | Add: Non-Operating Income | 6,961,711.89 | 1,360,810.00 | | IV. Total Profit | 12,496,278.54 | 44,334,175.46 | | V. Net Profit | 10,664,714.38 | 38,350,907.41 | | Net Profit Attributable to Owners of Parent Company | 10,372,041.73 | 35,409,307.71 | [Consolidated Cash Flow Statement (Year-Beginning to Period-End)](index=21&type=section&id=7.%20Consolidated%20Cash%20Flow%20Statement%20from%20Year-Beginning%20to%20Period-End) In the first three quarters of 2017, net cash flow from operating activities was negative CNY 60.18 million due to reduced sales collections, while investing activities showed a net outflow of CNY 50.16 million from wealth management product purchases, leading to a significant decrease in period-end cash and cash equivalents Consolidated Cash Flow Statement (Jan-Sep 2017) (Unit: CNY) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -60,183,914.65 | -26,477,615.69 | | Net Cash Flow from Investing Activities | -50,156,697.89 | -433,021.37 | | Net Cash Flow from Financing Activities | -9,359,849.00 | 236,720,882.33 | | Net Increase in Cash and Cash Equivalents | -119,700,461.54 | 209,810,245.27 | | Period-End Balance of Cash and Cash Equivalents | 33,708,964.95 | 227,132,322.55 | [Audit Report](index=24&type=section&id=II.%20Audit%20Report) The company's Q3 2017 report is unaudited - The company's third-quarter report is unaudited[52](index=52&type=chunk)