JINHONG GAS(SH:688106) Zheng Quan Shi Bao Wang·2026-01-19 10:17Core Viewpoint - Jin Hong Gas (688106) reported a revenue of 2.031 billion yuan for the first three quarters of 2025, marking a 9.33% increase year-on-year, while net profit decreased by 44.9% to 116 million yuan [1] Group 1: Company Overview - Jin Hong Gas was established in 1999 and went public on the Sci-Tech Innovation Board in 2020, specializing in the research, production, sales, and integrated solutions of gases [1] - The company aims to be a leader in the gas industry by providing innovative and sustainable gas solutions [1] Group 2: Financial Performance - For the first three quarters of 2025, the company's operating cash flow amounted to 290 million yuan [1] - The sales revenue from specialty gases accounted for 33.07% of total revenue, with high-purity hydrogen, helium, nitrous oxide, mixed gases, and ultra-pure ammonia being significant contributors [1] Group 3: Product Development - The core product of the company's convertible bond fundraising project is electronic-grade dichlorodihydrosilane, which has entered trial production, with an expected annual capacity of 200 tons upon full production [1] - Jin Hong Gas is actively promoting the testing and certification of this product for semiconductor clients [1] Group 4: Market Strategy - Future growth in the specialty gas business is expected to come from three main areas: increased demand from the semiconductor sector, expansion of high-quality new customers, and the launch of new specialty gas products [2] - The company plans to enhance its market share in bulk retail while identifying quality acquisition targets for horizontal expansion [2] - In the on-site gas production business, the company will focus on new project opportunities and existing stock replacement [2]