JINHONG GAS(688106)2024-11-01 09:52Company Overview - Jin Hong Gas Co., Ltd. was established in 1999 and listed on the Sci-Tech Innovation Board in 2020 with stock code 688106, specializing in integrated gas solutions for research, production, sales, and services [1] - The company adheres to a vertical and horizontal development strategy, focusing on technology to provide innovative and sustainable gas solutions, aiming to be a leader in the gas industry [2] Financial Performance - In the first three quarters of 2024, the company achieved operating revenue of CNY 1.858 billion, a year-on-year increase of 4.37% [2] - The net profit attributable to shareholders was CNY 210 million [2] - As of September 30, 2024, total assets amounted to CNY 6.920 billion, reflecting a growth of 10.91% compared to the end of the previous year [2] Product Sales and Market Structure - Bulk gas product sales increased by 36% year-on-year, while specialty gas product sales rose by 42% [2] - In the customer structure, the semiconductor industry accounted for 31% of revenue, with the integrated circuit sector contributing 13%, marking a 30% increase year-on-year [2][3] - The machinery manufacturing industry represented 15% of revenue, and the new materials industry accounted for 13% [3] Product Pricing and Development - The company plans to counteract price pressures on specialty gas products by increasing sales volume [3] - Demand for ultra-pure ammonia has declined due to the downturn in the photovoltaic industry, leading to a decrease in market prices [3] - Seven new specialty gas products are currently in the industrialization process, with one product, octafluorocyclobutane, undergoing single-machine debugging [3] Project Progress and Future Plans - Major projects such as the Northern Integrated Circuit Phase I and others have achieved stable supply, with additional projects expected to commence production in Q4 2024 [4] - The company has established divisions for on-site gas production and electronic bulk gas to expand its business in this area [4] - Future mergers and acquisitions will be pursued to enhance growth, leveraging the company's platform for strategic expansion [5] Capital Expenditure and Cash Flow Management - The gas industry is capital-intensive, necessitating continuous investment to support development [5] - The company will focus on managing liquidity to ensure stable growth while matching funding needs for ongoing projects [5]