JINHONG GAS(SH:688106)2024-06-24 10:31Group 1: Company Overview - Jin Hong Gas Co., Ltd. was established in 1999 and listed on the Sci-Tech Innovation Board in 2020 with stock code 688106 [1] - The company specializes in integrated solutions for the research, production, sales, and service of environmentally friendly gases [2] Group 2: Recent Financial Performance - In Q1 2024, the company achieved a revenue of CNY 589 million, representing a year-on-year growth of 13.74% [2] - The net profit attributable to shareholders was CNY 76 million, an increase of 26.68% compared to the same period last year [2] - As of March 31, 2024, total assets amounted to CNY 6.803 billion, reflecting a growth of 9.03% from the previous year [2] Group 3: Major Contracts and Projects - In May 2024, the company signed a gas supply contract with Shandong Ruilin Polymer Materials Co., Ltd., with a contract value of approximately CNY 1.86 billion (excluding tax) for a duration of 20 years [2] Group 4: Product Development and Market Strategy - The company has launched high-purity carbon dioxide and ethyl silicate, which are currently being supplied to key clients [3] - Seven new specialty gas products are in the industrialization process, including three fluorocarbon products and four precursor materials [3] Group 5: Market Position and Customer Base - The company’s downstream customer base is relatively diversified, with an increasing proportion of integrated circuits [4] - The market share for electronic bulk gases is currently low, but there is significant potential for growth with new projects and the expiration of existing contracts [5] Group 6: Management and Investment Strategy - The company employs an integrated and standardized management model for its subsidiaries to enhance efficiency and performance [5] - Key factors considered in acquisition targets include regional economic potential and the target's business scale and compliance [5]