CHINA GAS INDUSTRY INVESTMENT HOLDINGS CO. LTD has been in operation since 2007, and according to the Frost & Sullivan Report, the Group was the second-largest industrial gas supplier in the Beijing-Tianjin-Hebei region in 2019 in terms of revenue. The Beijing-Tianjin-Hebei region includes Beijing, Tianjin, and Hebei provinces. It is the largest urbanized metropolitan area in North China and the leading regional market for industrial gases in China in terms of revenue. According to the Frost & Sullivan report, the Beijing-Tianjin-Hebei regional industrial gas market accounted for about 17.3% of China's total industrial gas market in 2019 in terms of revenue. In terms of revenue, apart from the steel industry, which consumes the largest industrial gas in the Beijing-Tianjin-Hebei region, chemicals, other chemical and electronic products have the greatest demand for industrial gases in the Beijing-Tianjin-Hebei region. Therefore, industrial gas suppliers in the Beijing-Tianjin-Hebei region have great potential for development and growth for the three years ending December 31, 2019 and the six-month period ending June 30, 2020, and until October 20, 2020. The Group mainly deals in the supply of pipeline industrial gases and liquefied industrial gases. The Group also operates relatively small-scale liquefied natural gas-related businesses, including supplying liquefied natural gas and providing gas delivery services.