Yingde Gases Group has revealed its interim report for 2019 and seemingly maintains its position as the largest independent onsite industrial gas supplier in the People’s Republic of China.

The group has a total of 78 facilities in operation and 18 facilities under development, with a total installed capacity of 2.5 million Nm3 of oxygen per hour.

This is an increase of 11.9% compared with the same period of last year.

It is expected that the company’s total installed capacity will exceed 2.8 million Nm3 of oxygen per hour in 2022, when the construction of all facilities under development is completed.

According to the SAI Report of 2018, the group is the largest independent onsite industrial gas supplier in China (2018).

Interim increases

Yingde’s interim report stated that, for the period ending 30th June 2019, its revenue has exceeded RMB 6.9bn ($970m), an increase of 21.5% compared with the same period in 2018.

For the period ended 30 June 2019, the revenue of the group’s onsite gas supply business amounted to RMB 4.8bn ($675m), representing an increase of 8.5% compared with last year. This was approximately 69.6% of the total group revenue.

For the merchant gases business, the corresponding revenue for the period amounted to RMB 1.2bn ($170m), an increase of 4.3% compared with last year and around 17.7% of the total revenue.

Revenue from clean energy products for the period amounted to RMB 860m, compared with RMB 73m for the same period last year.

The group’s CEO, Li Zhengyu, commented, “In the first half of 2019, despite challenges from the overall merchant gas price reduction, we benefited from strong steel demand due to increases in basic investment in PRC, new projects that commenced operation and increases in merchant gas volume sold to customers, [and] the group managed 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.”