Jacques Technology won the bid for the 483 million yuan LNG storage tank project, and the LNG sheet business grew rapidly
Latest News: On September 6, the company announced that the company and its holding subsidiary Jiangsu Yak LNG Engineering Co., Ltd. (referred to as “Jacques Natural Gas”) respectively received the “Notice of Winning the Bid” from China Huanqiu Engineering Co., Ltd. Book”. The company and Jacques Natural Gas are the winning bidders for the second phase of the storage tank project of Beijing Gas Tianjin Nangang LNG Emergency Reserve Project.
The LNG industry is booming, and the company’s thermal insulation board business has grown rapidly with sufficient orders on hand. In the first half of 2022, due to the impact of the geopolitical conflict between Russia and Ukraine, superimposed on the tight global crude oil supply and demand, oil and gas prices rose sharply, and the LNG industry showed a high degree of prosperity, which led to the rapid growth of the global LNG ship market. The company is the first domestic LNG thermal insulation board manufacturer. In the first half of 2022, the company’s LNG thermal insulation composite material business achieved revenue of 181 million yuan. In the first half of 2022, the company has successively completed and delivered orders from shipbuilding enterprises such as Hudong Zhonghua Shipbuilding (Group) Co., Ltd. and Jiangnan Shipbuilding Co., Ltd., and the GBS02 project participated by the company has also been completed and delivered. In addition, in the first half of 2022, the company also signed sales contracts for LNG thermal insulation panels with a number of customers at home and abroad. As of June 30, 2022, the company’s contract liabilities were approximately 198 million yuan, an increase of 32.9% compared to the end of 2022Q1 and a year-on-year increase of 76.1%. The company and its subsidiary, Jacques Natural Gas, won the bid for a project of about 483 million yuan, which is expected to be delivered within one year, which will further significantly increase the company’s LNG thermal insulation board business revenue and boost performance.