Our Group with Baosteel Gases combined hold the leading market position in China's overall industrial gases market by total revenue with a combined market share of 12.6% in 2020, a 22.3% market share in the independent industrial gases market and a 37.7% market share in the independent on-site gas supply market in China in 2020, according to Frost & Sullivan.
We plan to selectively expand into other geographic areas leveraging our capabilities and experience. For example, we have established NovaAir with a team of local industry veterans as our expansive business platform in India to explore and bid for high-growth on-site projects. As our customers deploy their investments and operations outside China, we will also further improve our strategic planning process and actively explore overseas investment opportunities to expand our footprint globally alongside our existing customers.