Beijing Co., Ltd. is planning a non-public offering of 84.4 million A shares.
The issue targets include no more than 65,438+00 specific targets, including the controlling shareholder Jingcheng Electromechanical or its related parties. The raised funds will be used for the company's "four bottles" project, hydrogen energy research and development project, as well as supplementing liquidity and repaying debts.
North Gaoxin and Furuite, 600860 Beijing Stock Exchange, installed directly in the natural gas storage equipment stock plus industrial park.
Industry pattern and trend _:
1. Industry competition pattern _
In recent years, the competitive situation of gas storage and transportation industry is deteriorating day by day. At present, there are more than 30 domestic CNG cylinder manufacturers with an annual output of more than 2 million, and more than 80 LNG cylinder manufacturers with an annual output of nearly 500,000, and the production capacity has far exceeded the demand. However, the economic downturn is a critical period to reshape the industrial structure, and it is also a critical period for enterprises to practice their internal strength and seize opportunities. The industrial gas industry has risen steadily, and the LNG industry has continued to decline due to low oil prices. However, due to the pressure of environmental smog control, LNG is still optimistic in the future. _ The determination of the national energy structure adjustment is very firm, the natural gas application plan is being continuously implemented, and the non-pipeline transportation of natural gas will be further developed. _
(1) Industrial Fire Protection Industry _
China's industrial gas industry has made great progress in the past 10 years, but compared with developed countries, China's per capita industrial gas consumption is still at a low level, and there is still great development potential in the future. It is expected that it will remain stable and rising in 2020. However, the low-price competition of domestic industrial gas cylinders is becoming increasingly fierce. In addition, the transportation and storage mode of industrial gas is gradually changing to low-temperature liquefaction, which will drive the market demand of low-temperature bottles and storage tanks to increase continuously. The average annual sales growth rate of China fire protection market in recent five years has reached 10%. It is predicted that the fire protection industry will continue to show a rapid growth trend in the next few years, with an annual growth rate of 15%-20%. The perfection of fire laws and regulations, the strictness of fire supervision, and the increasing attention of governments and supervision departments at all levels will effectively promote the healthy and rapid development of fire protection in China. The reform of fire administrative examination and approval will further improve the marketization level of China's fire industry and create a good growth environment and competitive environment for brand enterprises. _
(2) Natural gas industry _
It is estimated that the proportion of natural gas in the primary energy consumption structure will be about 10% in 2020. China will promote the establishment of natural gas production, supply, storage and sales system, accelerate the increase of domestic natural gas storage and production, fully promote the interconnection of natural gas infrastructure, and improve the peak shaving system of natural gas reserves. _
The National Development and Reform Commission revealed that a peak-shaving mechanism of about 200 million cubic meters will be established to stabilize China's natural gas supply and reserves. The demand for LNG peak-shaving infrastructure will continue to grow everywhere, which will stimulate the demand growth of large LNG storage tanks. In terms of natural gas vehicles, at present, the state has issued a number of policies to promote the development of natural gas vehicles: the 13 th Five-Year Plan for Natural Gas promotes the demand for natural gas heavy trucks, showing an upward trend; Other policies include "Opinions of the Central Committee of the State Council on Strengthening Ecological Environmental Protection in an All-round Way and Resolutely Fighting Pollution Prevention and Control", "Three-year Action Plan to Win the Blue Sky Defence War", "Three-year Action Plan to Promote Transportation Structure Adjustment (20 18-2020)" and "Action Plan to Prevent and Control Diesel Vehicle Pollution", which explicitly requires "encouraging the promotion and use of clean energy vehicles and boats". "Accelerate the use of new energy or clean energy vehicles for public transportation, sanitation, postal services, rental, commuting and light logistics vehicles in urban built-up areas, and the proportion of key areas will reach 80%; New energy or clean energy vehicles are mainly used for adding or replacing vehicles in ports, airports and railway freight yards in key areas, and "promoting gas vehicles that meet the national six emission standards". With the continuous decline of LNG price and the continuous increase of fuel price in the future, the economy of LNG power ship appears again. The core components in the industrial chain, such as marine gas cylinders, LNG filling stations, barges, inland river and offshore LNG transport supply ships, will become the key links in the development of the combustion-supporting industry and fully share the dividends of the rapid growth of the industry. _ According to the State Council's "Three-year Action Plan to Win the Blue Sky Defence War", diesel vehicles will gradually withdraw from the city. It is estimated that there will be about100000 gasified vehicles in 2020, and LNG vehicles will undoubtedly usher in new development opportunities. _
(3) Hydrogen Energy and Fuel Cell Industry _
As an important direction of automobile power system transformation and upgrading and new energy vehicle strategy, China government attaches great importance to the development of hydrogen fuel cell vehicles at the macro level and has issued a series of support and encouragement policies. In 20 19, the content of "promoting the construction of charging and hydrogenation facilities" was written into the "Government Work Report" for the first time, indicating that the state attaches importance to the development of hydrogen energy. Under the impetus of national policies, local governments pay more and more attention to the development of fuel cell industry, and successively introduce preferential subsidy policies for the construction of hydrogen refueling stations to promote the development of basic supporting facilities. With the continuous increase of policies, the construction plans of hydrogen refueling stations in various places have been announced one after another. At the same time, SAIC, Yutong, Futian, Dongfeng and other automobile manufacturers have announced fuel cell models, and several provinces and cities have established demonstration and application projects of hydrogen energy economy. In Guangdong, the joint construction station of hydrogenation and refueling with PetroChina and Sinopec has also been officially opened. It is predicted that the hydrogen energy industry will enter an explosive period around 2020. _
2. Development trend _
(1) bottle product _
The competitive situation of traditional industrial gas cylinders is hard to change, and the demand for high-purity gas cylinders is increasing day by day.
In 2020, domestic industrial gas cylinders will still be unable to get rid of the situation of overcapacity and low-price competition. With the adjustment of national industrial structure, industries such as energy conservation and environmental protection, electronic information and new energy have developed rapidly, and the demand for special gases has increased substantially, so has the demand for domestic high-purity gas cylinders. The market demand for automobile bottles is expected to increase. With the recovery of international oil prices, the economy of LNG for vehicles has once again appeared. The requirements of national policies for lightweight automobiles and the successive introduction of national natural gas development policies may revitalize the natural gas automobile industry. In the future, it is necessary to strengthen the maintenance and development of OEM customers and establish an all-round service chain consisting of sales, technology and quality management to meet the growing market service demand. But the capital occupation of automobile manufacturers is relatively high, and the market should maintain a moderate development.
(2) Low temperature products _
With the adjustment of national industrial structure, the mode of transportation and storage of industrial gases is gradually changing to low-temperature liquefaction, which will drive the market demand for low-temperature bottles and storage tanks to increase. In the long run, the global trend of promoting environmental governance, energy saving and emission reduction by China government and gradually increasing the proportion of clean energy consumption will not change, and the application of natural gas as clean energy in transportation (LNG heavy trucks and ships) is still the future trend. Cryogenic storage tanks are also facing good market opportunities. Large cryogenic storage tanks are needed for receiving stations, peak shaving stations, ships, gas filling stations and new factories. In the future, the market situation will gradually improve, and the demand for LNG peaking infrastructure will continue to grow, which will also stimulate the demand growth of large LNG storage tanks.
(3) Station products _
Due to the decline in the growth rate of the national economy and the pursuit of high-quality development, gas station enterprises are cautious in investment and the market development speed slows down. In addition, the cost recovery cycle of LNG filling stations has been lengthened, the investment attention has been significantly reduced, and the growth rate of LNG filling stations has continued to slow down. Policy support for accelerating the utilization of natural gas will continue to develop. In the future, we should seize the policy opportunity of controlling smog and changing coal into gas, strengthen cooperation with regional gas companies, develop bottle groups and integrated gasification stations, continue to seize the market through LNG gasification skid-mounted products, and maintain the moderate development of gas filling station business. _
(4) Tank container products _
The development of LNG tank container industry in the next few years is undoubtedly huge. Its flexible and diverse transportation modes can meet the demand of a large number of LNG import markets in China, which is helpful to upgrade the global LNG logistics mode and provides a new way to realize the rapid allocation of LNG resources. The market prospect is very broad. Actively seeking to establish long-term cooperation mechanism with customers is the key development direction in the future.
(5) Hydrogen energy products _
In recent years, China has attached great importance to the development of hydrogen energy industry. National policy documents such as the 13th Five-Year National Science and Technology Innovation Plan, Made in China 2025, and the 13th Five-Year Special Plan for Science and Technology Innovation of Transportation list the development of hydrogen energy and fuel cell technology as key tasks, list fuel cell vehicles as key support areas, and clearly propose to realize the demonstration of 5,000-class vehicles in specific areas in 2020. In 2025, 50,000 vehicles will be used and 300 hydrogen refueling stations will be built; In 2030,/kloc-0,000,000 fuel cell vehicles will be commercialized, and/kloc-0,000 hydrogen refueling stations will be built. By the end of June 2020, 1 hydrogen refueling station had been built in China. SAIC, Yutong, Futian, Dongfeng and other automobile manufacturers have announced fuel cell models, and several provinces and cities have established demonstration and application projects of hydrogen energy economy. We should seize the opportunity, rely on the advantages of gas storage and transportation equipment manufacturing for many years, develop III and IV bottles and hydrogen supply systems, and build the company's leading position in the field of hydrogen energy equipment.