On 20 September, 2019, Yingde Gases Group is pleased to announce the interim results of the Group for the period ended 30 June 2019, with revenue exceeding RMB 6.9 billion, an increase of 21.5% compared with the same period in 2017.
As at 30 June 2019, our Group had a total of 78 facilities in operation and 18 facilities under development. The total installed capacity amounted to 2.5 million Nm3/hr in terms of installed oxygen capacity, representing an increase of 11.9% as compared with the same period of last year. It is expected that the total installed capacity will exceed 2.8 million Nm3/hr in 2022 when construction of all facilities under development is completed.
On-site Gas Supply Operation
According to the SAI Report of 2018, our Group is the largest independent on-site industrial gas supplier in the PRC in 2018. Our major gas products include oxygen, nitrogen and argon. For the period ended 30 June 2019, the revenue of our Group’s on-site gas supply business amounted to RMB4,831 million, representing an increase of 8.5% as compared with last year. On-site gas supply accounted for approximately 69.6% of the revenue of our Group, mainly contributed by customers from steel, chemical and non-ferrous metals industries.
Merchant Gas Operation
With increasing investment in the merchant segment by the Group, the revenue of our Group’s merchant gas operation for the period ended 30 June 2019 amounted to RMB1,220 million, representing an increase of 4.3% as compared with last year. The merchant sales accounted for approximately 17.7% of the revenue of our Group.
Increase in Clean Energy Product Contribution
Following the acquisition of Anyang Zhongying Fertilizer Co. Ltd. in May 2018, revenue from clean energy products for the period ended 30 June 2019 amounted to RMB 860 million, revenue for the same period last year is RMB 73 million. The clean energy product sales accounted for approximately 12.5% of the revenue of our Group.
The Group’s CEO Li Zhengyu said, "In the first half 2019, despite challenges from the overall merchant gas price reduction, we benefit from strong steel demand due to increase in basic investment in PRC, new projects commenced operation and increase in merchant gas volume sold to customers, the Group manage to increase revenue by 21.5%. Looking forward, the Group will maintain the" integrity, innovation, safety, win-win " as core values, continue to identify more quality customers and maintain its leading position in the industry by providing the best gas service to our customers. As the same time, we will continue to strengthen our overall capacity in merchant gas and Clean Energy sector, in order to explore business opportunities in the market. The Group has a stable operation and the improved performance is depends on every Yingde people's commitment and hard work. Proud of the team."
About Yingde Gases Group Company Limited
Yingde Gases Group Company Limited is the largest on-site independent gas supplier in the PRC since 2009. According to SAI report of 2018, the Group remained as the largest independent industrial gas supplier in the PRC as of 31 December 2018. The Group’s headquarter is in Shanghai Free Trade Zone, our finance and investment headquarter is in Hong Kong and centralized R&D centre is located in Hangzhou. We are focused in development of industrial gases and clean energy, the Company produces supplies and distributes a variety of industrial gas products to its on-site and merchant customers from several locations in the PRC, with oxygen, nitrogen and argon being the Company’s main gas products. We also produce hydrogen and carbon-monoxide based syngas to provide clean energy solutions to our customers, supporting customers from metals, chemicals, semi-conductors, electronics, polysilicon, food, health care, new materials, energy and environmental protection industries, continued to create value in numerous areas that are closely linked to the national economy.