证券代码：002490 证券简称：山东墨龙 公告编号：2023-021 山东墨龙石油机械股份有限公司 关于举行2022年度网上业绩说明会的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 山东墨龙石油机械股份有限公司（以下简称"公司"）2022 年年度报告及摘要 已于 2023 年 4 月 1 日在指定媒体披露，为使投资者进一步了解公司 2022 年度的发 展战略、经营情况及财务状况，公司将于 2023 年 4 月 20 日（星期四）15:30-17:00 举办 2022 年度业绩说明会。本次年度业绩说明会将采用网络远程方式举行，投资 者可登陆深圳证券交易所"互动易"平台(http://irmcninfo.com.cn)进入"云访谈"栏 目参与本次年度业绩说明会。 出席本次业绩说明会的人员有：公司总经理、独立董事、财务总监以及董事会 秘书。 为充分尊重投资者、提升交流的针对性，增加投资者对公司的了解，提升公司 治理水平和企业整体价值，现就公司 2022 年度业绩说明会提前向投资者公开征集 问题，广泛听取投资者的意见和建议。投资者可在本次年度业绩说明会召开日前 ...

Financial Performance - Total foreign trade revenue from China in 2022 was approximately $2.36 billion, a decrease of 33.2% from $3.54 billion in 2021[1]. - Total foreign trade revenue from other countries in 2022 was approximately $405.93 million, an increase of 105.5% from $197.68 million in 2021[1]. - Financial expenses totaled approximately $105.82 million in 2022, a decrease of 8.9% from $115.45 million in 2021[2]. - Other income for 2022 was approximately $973.23 thousand, a decrease of 58.4% from $2.34 million in 2021[4]. - The company reported operating revenue of RMB 2.766 billion, a decline of 25.94% compared to the previous year[23]. - The net profit attributable to shareholders of the listed company was a loss of RMB 425 million during the reporting period[23]. - The group’s revenue for the year ending December 31, 2022, was RMB 2,765,645,281.40, representing a decrease of approximately 25.94% compared to the previous year[41]. - The net loss attributable to equity holders was RMB -424,969,725.59, with a basic and diluted loss per share of RMB -0.53[41]. - The company reported a significant increase in financial expenses, totaling RMB 105,822,746.34, compared to RMB 115,447,705.15 in the previous year[82]. - The net profit for the year was RMB -448,935,447.37, compared to RMB -368,420,495.43 in the previous year, reflecting a worsening of approximately 21.8%[82]. - The total comprehensive income attributable to the owners of the parent company was RMB -426,327,037.05, compared to RMB -367,674,138.59 in the previous year[83]. Assets and Liabilities - The company's total assets as of December 31, 2022, were RMB 4.039 billion, a decrease of 9.40% year-on-year[23]. - Total current assets decreased from $1,846.77 million in 2021 to $1,648.06 million in 2022, a decline of approximately 10.7%[85]. - Total non-current assets decreased from $2,610.84 million in 2021 to $2,390.54 million in 2022, a decline of about 8.4%[86]. - Total liabilities increased from $3,097.86 million in 2021 to $3,128.25 million in 2022, an increase of approximately 1.0%[86]. - Total equity attributable to shareholders decreased from $1,413.24 million in 2021 to $987.96 million in 2022, a decline of about 30.0%[87]. - The company’s retained earnings showed a negative balance, increasing from $(434.05) million in 2021 to $(859.02) million in 2022[87]. Revenue Segments - The revenue from pipe products was approximately $1.61 billion in 2022, down from $2.05 billion in 2021, representing a decline of about 21%[97]. - The revenue from casting and forging products increased to approximately $982.45 million in 2022, up from $710.41 million in 2021, reflecting a growth of about 38%[97]. - The revenue from oil machinery components rose to approximately $22.59 million in 2022, compared to $8.89 million in 2021, marking an increase of about 154%[97]. - The total revenue from other business activities was approximately $114.31 million in 2022, slightly down from $126.53 million in 2021[97]. Operational Challenges - The increase in production costs and management expenses was attributed to insufficient product orders, decreased sales volume, and rising prices of key raw materials (coal)[23]. - The company experienced a loss in investment income of RMB -287,370.63, compared to RMB -169,863.60 in the previous year[82]. - The company faced a management expense of $278,990,958.47, which impacted overall profitability[103]. Strategic Initiatives - The company aims to enhance oil and gas resource exploration and development to ensure energy security, as emphasized in the 20th National Congress report[25]. - The company is committed to optimizing sales strategies based on market conditions and enhancing product and customer structure[33]. - The company aims to strengthen financial management by enhancing communication with banks to reduce financing costs and maintain or increase credit limits[43]. - The company plans to improve internal control management to reduce operational risks and enhance risk management capabilities[44]. - The company is closely monitoring fluctuations in raw material prices to control manufacturing costs and adjust product pricing accordingly[48]. - The company is committed to enhancing safety and environmental protection measures in response to increasing regulatory requirements, which may raise environmental investment costs[48]. Governance and Compliance - The company has maintained a high level of corporate governance and transparency, adhering to the corporate governance code and best practices[54]. - The company has not repurchased, sold, or redeemed any of its listed securities during the reporting period[61]. - The board of directors does not recommend the distribution of a final dividend for the year ended December 31, 2022[79].

[Main Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) [Key Accounting Data and Financial Indicators](index=1&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first three quarters of 2022, the company's operating performance significantly declined, with revenue down 24.60% and net profit attributable to shareholders turning to a loss of **-265.95 million RMB**, while total assets slightly increased and shareholder equity decreased by 18.89% Key Financial Indicators for the First Three Quarters of 2022 | Indicator | Year-to-Date (RMB) | YoY Change | | :--- | :--- | :--- | | Operating Revenue | 2,220,897,730.20 | -24.60% | | Net Profit Attributable to Shareholders | -265,948,560.19 | -151.87% | | Net Cash Flow from Operating Activities | 25,428,576.40 | 106.98% | | Basic EPS (RMB/share) | -0.3333 | -151.93% | | Total Assets | 4,515,168,533.33 | 1.29% (vs. prior year-end) | | Total Equity Attributable to Shareholders | 1,146,286,567.64 | -18.89% (vs. prior year-end) | [Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Year-to-date, the company's total non-recurring gains and losses amounted to **9.63 million RMB**, primarily from the reversal of impairment provisions for receivables, government grants received, and payables no longer required to be settled Non-recurring Gains and Losses Items Year-to-Date | Item | Amount Year-to-Date (RMB) | Primary Source | | :--- | :--- | :--- | | Reversal of impairment provisions for receivables subject to separate impairment testing | 6,941,179.49 | Collection of accounts receivable | | Other non-operating income and expenses | 4,638,658.73 | Payables no longer required to be settled and recovery of previously written-off assets | | Government grants | 752,905.98 | Employment stabilization subsidies | | **Total** | **9,629,383.57** | - | [Analysis of Changes in Key Financial Data and Indicators](index=2&type=section&id=%EF%BC%88%E4%B8%89%EF%BC%89%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E5%8F%8A%E5%8E%9F%E5%9B%A0) During the reporting period, the company's financial position underwent significant changes, including shifts in asset and liability structures, increased administrative expenses and inventory impairment losses, and a positive turnaround in operating cash flow [Balance Sheet Item Variation Analysis](index=2&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E6%9E%84%E6%88%90%E5%8F%91%E7%94%9F%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) As of the reporting period end, the company's balance sheet structure showed significant changes, with notes receivable and notes payable decreasing, while receivables financing and long-term payables surged due to shifts in settlement methods and new financing leases - Key Balance Sheet Changes and Reasons - **Notes Receivable**: **-45.37%**, primarily due to a decrease in commercial acceptances received that are not yet due[9](index=9&type=chunk) - **Receivables Financing**: **+86.42%**, primarily due to an increase in goods settled with bank acceptance bills that have not yet been transferred[10](index=10&type=chunk) - **Notes Payable**: **-83.45%**, primarily due to a decrease in goods settled with bank acceptance bills - **Accounts Payable**: **+37.18%**, primarily due to some payments for goods not being made on time - **Long-term Payables**: **+92.04%**, primarily due to new financing lease activities in the current period [Income Statement Item Variation Analysis](index=3&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E6%8D%9F%E7%9B%8A%E6%8C%87%E6%A0%87%E5%90%8C%E6%AF%94%E5%8F%91%E7%94%9F%E9%87%8D%E5%A4%A7%E5%8F%98%E5%8A%A8%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) In the first three quarters of 2022, the company's income statement items showed significant year-over-year changes, including a **42.38% increase in administrative expenses**, a **419.92% surge in asset impairment losses** primarily from inventory, and a **271.18% rise in non-operating income** - Key Income Statement Changes and Reasons - **Administrative Expenses**: **+42.38%**, primarily due to insufficient operation of some workshops, with related expenses reclassified to this account[11](index=11&type=chunk) - **Asset Impairment Losses**: **-419.92%**, primarily due to significant inventory impairment losses recognized in the current period - **Non-operating Income**: **+271.18%**, primarily due to an increase in payables no longer required to be settled and recovery of previously written-off assets in the current period [Cash Flow Statement Item Variation Analysis](index=3&type=section&id=%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E7%9A%84%E7%8E%B0%E9%87%91%E6%B5%81%E5%90%8C%E6%AF%94%E5%8F%98%E5%8A%A8%E5%88%86%E6%9E%90%E8%AF%B4%E6%98%8E) During the reporting period, cash flow showed structural improvement, with operating cash flow turning positive due to reduced payments, investing cash flow turning negative due to no asset disposals, and financing cash outflow significantly narrowing Changes in Net Cash Flow for the First Three Quarters of 2022 | Item | Jan-Sep 2022 (RMB) | Change Percentage | Primary Reason | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 25,428,576.40 | 106.98% | Decrease in payments for goods in current period | | Net Cash Flow from Investing Activities | -8,584,655.77 | -107.42% | No cash recovery from asset disposals in current period | | Net Cash Flow from Financing Activities | -47,143,640.15 | 89.18% | Increase in cash received from financing activities compared to prior year period | [Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) [Common Shareholder Ownership](index=3&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the reporting period end, the company had **51,645 common shareholders**, with the top three being Shouguang Molong Holding Co., Ltd. (**29.53%**), HKSCC Nominees Limited (**13.19%**), and Shandong Zhimeng Holding Co., Ltd. (**9.20%**), with four entities including Shandong Zhimeng Holding acting in concert - As of the reporting period end, the company had **51,645 common shareholders**, comprising **51,602 A-shareholders** and **43 H-shareholders**[14](index=14&type=chunk) Top Three Shareholders' Ownership | Shareholder Name | Shareholder Nature | Shareholding Percentage | | :--- | :--- | :--- | | Shouguang Molong Holding Co., Ltd. | State-owned Legal Entity | 29.53% | | HKSCC Nominees Limited | Overseas Legal Entity | 13.19% | | Shandong Zhimeng Holding Co., Ltd. | Domestic Non-state-owned Legal Entity | 9.20% | - Shandong Zhimeng Holding Co., Ltd., Shouguang Hongsen Logistics Co., Ltd., Shouguang Panjin Real Estate Co., Ltd., and Shouguang Ruisen New Building Materials Co., Ltd. are parties acting in concert[15](index=15&type=chunk) [Other Significant Matters](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) - During the reporting period, the company had no other significant matters requiring disclosure[16](index=16&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) [Consolidated Balance Sheet](index=5&type=section&id=1%E3%80%81%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2022, total assets were **4.52 billion RMB** (up 1.29% from year-start), total liabilities **3.44 billion RMB** (up 11.04%), and equity attributable to parent company shareholders **1.15 billion RMB** (down 18.89%) due to expanded accumulated losses Key Consolidated Balance Sheet Items (Unit: Billion RMB) | Item | Sep 30, 2022 | Jan 1, 2022 | | :--- | :--- | :--- | | Total Assets | 4.52 | 4.46 | | Total Liabilities | 3.44 | 3.10 | | Total Equity Attributable to Parent Company Shareholders | 1.15 | 1.41 | | Accumulated Losses | -0.70 | -0.43 | [Consolidated Income Statement (Year-to-Date)](index=7&type=section&id=2%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%AB%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first three quarters of 2022, total operating revenue was **2.22 billion RMB** (down 24.6%), total operating costs **2.48 billion RMB** (down 17.9%), resulting in an operating loss of **-286 million RMB** and a net loss attributable to parent company shareholders of **-266 million RMB**, indicating an expanded loss year-over-year Key Consolidated Income Statement Items (Unit: Billion RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | I. Total Operating Revenue | 2.22 | 2.95 | | II. Total Operating Costs | 2.48 | 3.02 | | III. Operating Profit | -0.29 | -0.08 | | IV. Total Profit | -0.28 | -0.08 | | V. Net Profit | -0.28 | -0.08 | | Net Profit Attributable to Parent Company Shareholders | -0.27 | -0.11 | [Consolidated Cash Flow Statement (Year-to-Date)](index=9&type=section&id=3%E3%80%81%E5%90%88%E5%B9%B6%E5%B9%B4%E5%88%9D%E5%88%B0%E6%8A%A5%E5%91%8A%E6%9C%AB%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first three quarters of 2022, net cash flow from operating activities significantly improved to **25.43 million RMB**, while investing activities turned to a net outflow of **8.58 million RMB**, and financing cash outflow substantially narrowed, with the period-end cash and cash equivalents balance at **379 million RMB** Key Consolidated Cash Flow Statement Items (Unit: Billion RMB) | Item | Current Period Amount | Prior Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 0.03 | -0.36 | | Net Cash Flow from Investing Activities | -0.01 | 0.12 | | Net Cash Flow from Financing Activities | -0.05 | -0.44 | | Net Increase in Cash and Cash Equivalents | -0.04 | -0.69 | | Cash and Cash Equivalents at Period End | 0.38 | 0.02 | [Audit Information](index=10&type=section&id=%EF%BC%88%E4%BA%8C%EF%BC%89%E5%AE%A1%E8%AE%A1%E6%8A%A5%E5%91%8A) The company's 2022 third-quarter report is unaudited - The company's third-quarter report is unaudited[27](index=27&type=chunk)

Financial Performance - The company's operating revenue for Q3 2022 was RMB 649,955,788.55, a decrease of 37.93% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of RMB 93,230,844.47, representing a decline of 149.69% year-on-year[5]. - The basic earnings per share for the period was -0.1168, down 149.57% from the previous year[5]. - The net operating profit for the period was CNY -286,016,383.36, compared to CNY -74,731,602.25 in the previous year, indicating a significant increase in losses[48]. - The company reported a total loss of CNY 281,618,097.30 for the period, compared to a loss of CNY 75,625,256.96 in the previous year, reflecting a worsening financial position[48]. - The net profit for the current period is -283,377,622.15, compared to -80,990,437.72 in the previous period, indicating a significant increase in losses[50]. - The net profit attributable to shareholders of the parent company is -265,948,560.19, compared to -105,589,670.07 in the previous period, reflecting a worsening financial performance[50]. - The total comprehensive income for the current period is -285,232,937.74, compared to -80,889,391.58 in the previous period, showing a substantial decline[52]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 4,515,168,533.33, an increase of 1.29% compared to the end of the previous year[5]. - The equity attributable to shareholders decreased by 18.89% to RMB 1,146,286,567.64 compared to the end of the previous year[5]. - Current liabilities increased to CNY 3,355,328,387.38 from CNY 3,010,092,270.82, representing an increase of approximately 11.4%[34]. - Non-current liabilities totaled CNY 84,659,272.31, slightly down from CNY 87,771,267.10, showing a decrease of about 2.4%[38]. - The total equity attributable to shareholders decreased to CNY 1,146,286,567.64 from CNY 1,413,238,861.87, a decline of approximately 19.0%[41]. Cash Flow - Cash flow from operating activities for the year-to-date was RMB 25,428,576.40, an increase of 106.98% year-on-year[5]. - Operating cash flow net amount improved by 106.98% to CNY 25,428,576.40, attributed to reduced payment for goods[20]. - Cash inflows from operating activities amount to 2,509,763,864.84, down from 3,026,061,905.71 in the previous period, indicating a decrease of approximately 17%[54]. - Cash outflows from operating activities total 2,484,335,288.44, compared to 3,390,224,045.13 in the previous period, representing a reduction of about 27%[56]. - The net cash flow from operating activities is 25,428,576.40, a recovery from a negative cash flow of -364,162,139.42 in the previous period[56]. - Cash inflows from financing activities are 3,405,619,575.32, an increase from 2,101,214,757.03 in the previous period, indicating a growth of approximately 62%[61]. - Cash outflows from financing activities total 3,452,763,215.47, compared to 2,537,072,337.29 in the previous period, reflecting an increase of about 36%[62]. - The net cash flow from financing activities is -47,143,640.15, an improvement from -435,857,580.26 in the previous period[63]. - The ending cash and cash equivalents balance is 378,832,591.33, compared to 14,708,760.42 in the previous period, showing a significant increase[65]. Expenses - Management expenses increased by 42.38% to CNY 224,812,059.70 compared to CNY 157,898,448.45 in the same period last year[17]. - Research and development expenses for the period were CNY 33,698,402.11, down from CNY 37,275,726.41, indicating a reduction of about 9.5%[48]. - Income tax expenses decreased by 67.20% to CNY 1,759,524.85, primarily due to an increase in deferred tax assets[17]. - Asset impairment losses surged by 419.92% to CNY -28,968,110.01, primarily due to inventory impairment testing[17]. - The company reported a 55.52% decline in other income to CNY 752,905.98, mainly due to reduced subsidies received[17]. Shareholder Information - The company’s total number of ordinary shareholders reached 51,645, with 51,602 being A-share holders[22]. - The top shareholder, Shouguang Molong Holdings Co., Ltd., holds 29.53% of shares, totaling 235,617,000 shares[23].

Financial Performance - The company's operating revenue for the reporting period was approximately CNY 1.57 billion, a decrease of 17.24% compared to the same period last year[21]. - The net profit attributable to shareholders of the listed company was a loss of approximately CNY 172.72 million, representing a decline of 153.06% year-on-year[21]. - Basic and diluted earnings per share were both reported at a loss of CNY 0.2165, a decline of 153.22% compared to the same period last year[21]. - The weighted average return on net assets was reported at -13.02%, a decrease of 9.11% from the previous year[21]. - The company's operating revenue for the reporting period was approximately ¥1.57 billion, a decrease of 17.24% compared to ¥1.90 billion in the same period last year, primarily due to regional pandemic control measures affecting production and transportation[52]. - The operating cost decreased by 12.10% to approximately ¥1.52 billion from ¥1.73 billion, mainly due to the decline in revenue[52]. - The company reported a net cash flow from operating activities of approximately ¥56.91 million, a significant increase of 392.26% compared to a negative cash flow of ¥19.47 million in the previous year[52]. - The group reported a net loss of RMB 183.17 million for the first half of 2022, compared to a net loss of RMB 47.77 million in the first half of 2021[93]. Assets and Liabilities - Total assets at the end of the reporting period amounted to approximately CNY 5.05 billion, reflecting a growth of 13.23% from the end of the previous year[21]. - The net assets attributable to shareholders of the listed company decreased to approximately CNY 1.24 billion, down 12.23% year-on-year[21]. - Total assets as of June 30, 2022, were RMB 5,047.43 million, an increase from RMB 4,913.63 million as of June 30, 2021[94]. - Total liabilities increased to RMB 3,871.02 million as of June 30, 2022, compared to RMB 3,159.66 million in the previous year[94]. - Cash and cash equivalents at the end of the reporting period amounted to ¥804,218,264.79, representing 15.93% of total assets, an increase from 10.66% at the end of the previous year[69]. - Accounts receivable increased to ¥371,450,687.22, accounting for 7.36% of total assets, up from 6.72% year-on-year[69]. - Inventory at the end of the reporting period was ¥1,049,870,058.59, representing 20.80% of total assets, an increase from 16.05% year-on-year[69]. - Short-term borrowings increased to ¥2,307,863,719.72, accounting for 45.72% of total assets, up from 43.00% year-on-year[69]. - The asset-liability ratio was approximately 76.69% as of June 30, 2022, up from 69.50% in 2021[126]. Market and Operational Insights - The company operates under a "sales-driven production" model, aligning production with market demand and customer orders[36]. - The domestic market accounted for 95.96% of total operating revenue, with a decrease of 16.44% year-on-year, while the overseas market contributed 4.04%, down 32.60%[55]. - The high-end casting and forging products segment saw a remarkable increase in revenue by 1,078.53%, contributing approximately ¥878.01 million, which represents 55.89% of total revenue[55]. - Revenue from pipe products decreased by 43.62% year-on-year, primarily due to regional pandemic control measures affecting transportation and production capacity[59]. - Revenue from oil machinery components rose by 124.29% year-on-year, mainly due to an increase in export orders[61]. Research and Development - The company has undertaken nearly 80 national and provincial research projects, enhancing its R&D capabilities in the energy equipment sector[41]. - The company has developed several new products, including a high-strength anti-deformation oil pipe and a special dual-channel oil pump, which are now in mass production and supply to the Xinjiang oilfield market[47]. - The company’s R&D investment decreased by 27.64% to approximately ¥24.40 million from ¥33.72 million, reflecting a reduction in new product development efforts[52]. Environmental and Social Responsibility - The company has implemented comprehensive wastewater treatment facilities across all production sites, ensuring that all treated wastewater is recycled and not discharged externally[145]. - The company has established effective air pollution control measures, including denitrification and dust removal equipment, ensuring compliance with emission standards[145]. - The company provided various social insurance and established a hardship assistance fund for employees, demonstrating a commitment to employee welfare[154]. - During the reporting period, the company donated RMB 100,000 to support local pandemic prevention efforts and organized blood donation activities involving over 100 employees[155]. Governance and Compliance - The company has adopted the Corporate Governance Code and has complied with all relevant provisions during the reporting period[111]. - There were no significant legal disputes or arbitration matters during the reporting period[164]. - The company has established a comprehensive internal control management system to protect shareholder rights and ensure decision-making mechanisms are effective and controllable[153].

Financial Performance - The company's operating revenue for the first half of 2022 was approximately ¥1.57 billion, a decrease of 17.24% compared to ¥1.90 billion in the same period last year[21]. - The net profit attributable to shareholders was a loss of approximately ¥172.72 million, representing a decline of 153.06% from a loss of ¥68.25 million in the previous year[21]. - The basic and diluted earnings per share were both reported at -¥0.2165, a decline of 153.22% compared to -¥0.0855 in the same period last year[21]. - The weighted average return on net assets was -13.02%, down from -3.91% in the previous year, indicating a significant deterioration in profitability[21]. - The company reported a net loss of RMB 183,171,000 for the first half of 2022, compared to a net loss of RMB 47,772,000 in the same period of 2021[65]. - The company's net profit for the first half of 2022 was -94,207,399.83 CNY, compared to -66,260,647.11 CNY in the same period of 2021, indicating a worsening performance[176]. - The total comprehensive income for the current period resulted in a decrease of CNY 173,491,628.23, primarily due to a loss of CNY 172,717,715.72[188]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to approximately ¥56.91 million, compared to a negative cash flow of ¥19.47 million in the same period last year, marking a 392.26% increase[21]. - The company's financing activities generated a net cash flow of CNY 16.6 million, a significant improvement compared to the previous period[39]. - Cash flow from operating activities generated a net inflow of 56,906,850.11 CNY, a significant improvement from -19,471,631.29 CNY in the first half of 2021[178]. - The total cash outflow from investing activities was 6,599,680.18 CNY, compared to 22,205,238.22 CNY in the first half of 2021, indicating reduced investment expenditures[179]. - The total amount of guarantees provided by the company during the reporting period was 76.91 million RMB, which accounts for 6.20% of the company's net assets[137]. Assets and Liabilities - Total assets increased by 13.23% to approximately ¥5.05 billion from ¥4.46 billion at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 12.23% to approximately ¥1.24 billion from ¥1.41 billion at the end of the previous year[21]. - Total liabilities increased to RMB 3,871,015,000 as of June 30, 2022, compared to RMB 3,159,662,000 in the previous year[66]. - The asset-liability ratio was approximately 76.69% as of June 30, 2022, compared to about 69.50% in 2021[88]. - The company's total liabilities increased to CNY 2,906,124,817.62 from CNY 2,519,402,260.79, reflecting a rise of 15.3%[172]. Revenue Breakdown - Revenue from pipe products decreased by 43.62% to ¥593,912,032.35, while high-end castings revenue increased by 1,078.53% to ¥878,006,892.23[40][41]. - Domestic revenue accounted for 95.96% of total revenue, amounting to ¥1,507,525,783.97, down 16.44% year-on-year[40]. - The company reported a significant increase in revenue from oil machinery components, which rose by 124.29% to ¥8,763,820.61 due to increased export orders[43]. Research and Development - The company's research and development investment decreased by 27.64% to CNY 24.4 million, attributed to reduced investment in new product development[38]. - The company has undertaken nearly 80 national and provincial research projects, enhancing its technological innovation capabilities[33]. - The company has developed several new products, including high-strength oil pipes and hydraulic cylinders, which are now in mass production[36]. Market and Strategic Position - The company is positioned to benefit from the increasing demand for unconventional oil and gas resources as part of China's strategic development[32]. - The management highlighted potential risks and strategies to mitigate them, which are detailed in the report[5]. - The company plans to adjust its product structure and market layout in response to market changes and raw material price fluctuations[62]. Environmental and Social Responsibility - The company is committed to environmental sustainability and has implemented energy-saving measures at its offices and operational locations[96]. - The company has established comprehensive wastewater treatment facilities across all production sites, ensuring that all treated wastewater is recycled and not discharged[105]. - The company has committed to social responsibility, including a donation of 100,000 RMB to support local pandemic prevention efforts[114]. Governance and Compliance - The company has established a relatively complete governance structure to protect shareholder rights, ensuring fair and transparent information disclosure[112]. - The company maintained compliance with the public float requirements of the Hong Kong Stock Exchange as of June 30, 2022[83]. - There were no significant equity or non-equity investments made during the reporting period[53][54].

Financial Performance - The company's revenue for Q1 2022 was CNY 560,910,297.59, representing a 3.09% increase compared to CNY 544,093,801.68 in the same period last year[2] - The net profit attributable to shareholders was a loss of CNY 67,308,447.89, an improvement of 38.44% from a loss of CNY 109,329,169.93 in the previous year[2] - The company's basic and diluted earnings per share were both CNY -0.0844, showing a 38.39% improvement from CNY -0.137 in the same period last year[2] - Operating profit for the current period was -¥73,873,194.41, an improvement from -¥117,078,366.84 in the previous period, indicating a decrease in losses of approximately 37.00%[18] - Net profit for the current period was -¥70,783,709.89, compared to -¥117,887,569.62 in the previous period, reflecting a reduction in losses of about 40.00%[18] - The company reported a total comprehensive loss of -¥70,713,267.46, compared to -¥118,006,313.04 in the previous period, indicating a reduction in comprehensive losses of approximately 40.00%[20] Cash Flow and Liquidity - The net cash flow from operating activities improved by 59.95%, with a net outflow of CNY 79,690,821.17 compared to CNY 198,994,506.89 in Q1 2021[7] - Cash flow from operating activities showed a net outflow of -¥79,690,821.17, an improvement from -¥198,994,506.89 in the previous period[22] - The company's cash and cash equivalents increased by 53.58% to CNY 729,784,437.54, primarily due to increased cash from financing activities[6] - Cash and cash equivalents at the end of the period were ¥308,774,884.48, down from ¥383,884,957.53 in the previous period[23] Assets and Liabilities - Total assets increased by 10.68% to CNY 4,933,487,780.41 from CNY 4,457,611,299.31 at the end of the previous year[3] - Current assets totaled CNY 2,373,879,030.86, up from CNY 1,846,768,954.84, indicating a rise of about 28.5%[13] - Total liabilities increased to CNY 3,644,001,232.32 from CNY 3,097,863,537.92, which is an increase of about 17.6%[15] - Short-term borrowings rose significantly to CNY 2,287,427,348.90 from CNY 1,916,706,214.72, marking an increase of around 19.4%[14] - The total equity attributable to the parent company decreased to CNY 1,346,445,866.34 from CNY 1,413,238,861.87, a decline of about 4.7%[16] Inventory and Prepayments - The company's inventory grew to CNY 926,883,272.49 from CNY 715,282,787.11, reflecting an increase of approximately 29.5%[13] - The company reported a significant increase in prepayments, which rose to CNY 171,010,781.46 from CNY 49,598,390.41, indicating a growth of approximately 244.5%[13] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,554, with 39,509 being A-share holders[9] Operational Highlights - The company reported a significant increase in operating income from non-operating activities, which rose by 998.62% to CNY 4,478,592.40 compared to CNY 407,657.70 in Q1 2021[7] - The company's management expenses decreased to ¥57,962,517.66 from ¥75,691,897.75, a reduction of approximately 23.50%[17] Other Information - The company has not disclosed any new product developments or market expansion strategies in the current report[12]

Financial Performance - The company's operating revenue for Q1 2022 was ¥560,910,297.59, representing a 3.09% increase compared to ¥544,093,801.68 in the same period last year[6]. - The net profit attributable to shareholders for Q1 2022 was -¥67,308,447.89, an improvement of 38.44% from -¥109,329,169.93 in Q1 2021[6]. - The company's basic and diluted earnings per share for Q1 2022 were both -¥0.0844, showing a 38.39% improvement from -¥0.137 in Q1 2021[6]. - Total operating revenue for the period was CNY 560,910,297.59, compared to CNY 544,093,801.68 in the previous period, representing an increase of approximately 3.3%[44]. - Net loss attributable to the parent company was CNY -70,783,709.89, an improvement from the previous period's loss of CNY -117,887,569.62[48]. - Total comprehensive income for the period was -70,713,267.46, an improvement from -118,006,313.04 in the previous period[52]. - Comprehensive income attributable to the parent company was -67,245,049.69, compared to -109,436,038.99 in the prior period[52]. Cash Flow - The net cash flow from operating activities improved significantly, reaching -¥79,690,821.17, a 59.95% increase compared to -¥198,994,506.89 in the previous year[6]. - The net cash flow from operating activities for Q1 2022 was -$79.69 million, an improvement of 59.95% compared to -$198.99 million in Q1 2021[22]. - The net cash flow from investing activities decreased significantly by 111.05%, from $41.57 million in Q1 2021 to -$4.59 million in Q1 2022[22]. - The net cash flow from financing activities improved by 86.88%, from -$158.65 million in Q1 2021 to -$20.82 million in Q1 2022[22]. - Cash inflows from operating activities totaled 588,268,249.45, down from 619,878,429.80 in the prior period[54]. - Cash outflows from operating activities were 667,959,070.62, compared to 818,872,936.69 in the previous period[56]. - Cash inflows from financing activities were 1,946,324,321.45, up from 1,017,360,007.53 in the previous period[58]. - Cash outflows from financing activities totaled 1,967,143,308.78, compared to 1,176,012,317.92 in the prior period[58]. - The net cash flow from financing activities was -20,818,987.33, an improvement from -158,652,310.39 in the previous period[58]. Assets and Liabilities - Total assets as of the end of Q1 2022 were ¥4,933,487,780.41, reflecting a 10.68% increase from ¥4,457,611,299.31 at the end of the previous year[8]. - Total current assets reached approximately $2.37 billion, compared to $1.85 billion at the beginning of the year[30]. - Non-current assets totaled approximately $2.56 billion, down from $2.61 billion at the beginning of the year[32]. - Total liabilities increased to CNY 3,644,001,232.32 from CNY 3,097,863,537.92, reflecting a growth of approximately 17.7%[36]. - Current liabilities rose to CNY 3,566,258,904.75 from CNY 3,010,092,270.82, marking an increase of about 18.5%[34]. - Non-current liabilities decreased to CNY 77,742,327.57 from CNY 87,771,267.10, a decline of approximately 11.7%[36]. - Total equity attributable to the parent company decreased to CNY 1,346,445,866.34 from CNY 1,413,238,861.87, a decrease of about 4.7%[39]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 39,554, with 39,509 being A-share holders and 45 being H-share holders[23]. - Shouguang Molong Holdings Co., Ltd. holds 29.53% of the shares, amounting to 235,617,000 shares, making it the largest shareholder[24]. Other Financial Metrics - The company reported a significant increase in contract liabilities, which rose by 171.34% to ¥190,940,103.57, indicating a rise in advance payments received[16]. - The company experienced a substantial increase in non-operating income, which surged by 998.62% to ¥4,478,592.40, primarily from the recovery of previously written-off assets[19]. - The operating profit margin showed a notable change, with operating taxes and surcharges increasing by 69.35% to ¥4,135,133.17 due to higher value-added tax realized[19]. - The company reported a tax expense of CNY 4,135,133.17, up from CNY 2,441,714.88 in the previous period, an increase of approximately 69.1%[44]. - Research and development expenses were CNY 5,471,566.75, slightly up from CNY 5,028,713.10, indicating a growth of about 8.8%[44]. - Other comprehensive income after tax for the period was CNY 70,442.43, compared to CNY -118,743.42 in the previous period, showing a significant recovery[50]. Strategic Outlook - The company has not disclosed any new strategies or future outlook during the earnings call[30].

Financial Performance - The company reported a revenue of RMB 1.2 billion for the fiscal year 2021, representing a year-on-year increase of 15%[12] - The net profit attributable to shareholders was RMB 150 million, an increase of 10% compared to the previous year[12] - The company's operating revenue for 2021 was ¥3,734,462,841.12, representing a 24.08% increase compared to ¥3,009,719,029.66 in 2020[17] - The net profit attributable to shareholders for 2021 was a loss of ¥368,017,768.12, a significant decline of 1,243.67% from a profit of ¥32,178,630.99 in 2020[17] - The basic earnings per share for 2021 was a loss of ¥0.46, compared to a profit of ¥0.04 in 2020, marking a decline of 1,250.00%[17] - The weighted average return on equity for 2021 was -23.05%, a decrease of 24.87% from 1.82% in 2020[17] - The company reported a quarterly operating revenue of ¥544,093,801.68 in Q1 2021, with a net loss attributable to shareholders of ¥109,329,169.93[24] - The company experienced a significant drop in net profit, with a loss of ¥262,428,098.05 in Q4 2021, compared to a profit in Q2[24] Market Strategy and Expansion - The company has outlined a market expansion strategy targeting Southeast Asia, aiming for a 30% increase in market share by 2023[12] - Future guidance estimates a revenue growth of 20% for the next fiscal year, driven by new product launches[12] - The company plans to invest RMB 200 million in new product development and technology research in the upcoming year[12] - The company plans to focus on high-quality development, emphasizing the research and sales of high-end products, and aims to become an internationally recognized energy equipment manufacturing service provider[100] - The company will actively expand its market by optimizing product and customer structures, focusing on major clients such as PetroChina, Sinopec, and CNOOC[101] - Market expansion plans include entering three new international markets by the end of the next fiscal year[149] Research and Development - The company has established a strong R&D capability with over 70 national and provincial research projects undertaken, enhancing its competitive edge in energy equipment[35] - The company is investing heavily in R&D, with a budget allocation of 200 million for new technologies and product development[149] - The company has developed new products including high-strength oil pipes and hydraulic cold-drawn oil cylinder pipes, which are now in mass production[40] - The company will strengthen technological innovation and research and development, collaborating with research institutions and universities to enhance its technical capabilities[104] Operational Efficiency and Cost Management - The management emphasized a focus on improving operational efficiency, aiming for a 5% reduction in costs across all departments[149] - The company aims to enhance its management and production quality, emphasizing safety, environmental protection, and cost control to improve profitability[103] - The company operates under a "sales-driven production" model, aligning production with market demand and customer orders[33] Risks and Challenges - The management highlighted potential risks including market volatility and supply chain disruptions[5] - The company recognizes the challenges posed by fluctuating raw material prices and the competitive landscape in the energy equipment manufacturing sector[96] - The company acknowledges market risks due to fluctuations in oil prices, which are influenced by global economic growth and supply-demand factors[108] - The company plans to monitor raw material price fluctuations closely and adjust product pricing and structure accordingly[109] Governance and Management - The company emphasizes information disclosure, adhering to laws and regulations to provide accurate and timely information to shareholders[122] - The company maintains independent operations and governance, ensuring no financial support is provided to the controlling shareholder[118] - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[120] - The company has a complete procurement, production, and sales system, with all fixed assets owned independently[125] - The company has undergone significant management changes, including the appointment of new executives and the end of terms for several board members[140] Customer and Supplier Relationships - The company has maintained a stable customer base, primarily consisting of major domestic oil and gas companies such as PetroChina and Sinopec[38] - The total sales amount from the top five customers reached ¥1,111,506,039.91, accounting for 29.77% of the annual sales[55] - The largest customer, China National Petroleum Corporation, contributed ¥312,448,049.65, representing 8.37% of total sales[55] - The total procurement amount from the top five suppliers was ¥1,081,552,845.46, which is 34.12% of the annual procurement[58] Environmental and Social Responsibility - The company is committed to enhancing its environmental and social responsibility initiatives in line with industry standards[12] - The company is committed to sustainable development, focusing on green and innovative practices in its operations[100] - The company will increase environmental protection investments in response to stricter safety and environmental policies[110]

Financial Performance - The company's operating revenue for 2021 was ¥3,734,462,841.12, representing a 24.08% increase compared to ¥3,009,719,029.66 in 2020[20] - The net profit attributable to shareholders was -¥368,017,768.12, a decrease of 1,243.67% from a profit of ¥32,178,630.99 in 2020[20] - The net cash flow from operating activities was ¥35,792,357.33, down 82.70% from ¥206,901,178.06 in the previous year[20] - The basic earnings per share were -¥0.46, a decline of 1,250.00% compared to ¥0.04 in 2020[20] - The diluted earnings per share were also -¥0.46, reflecting the same percentage decrease as the basic earnings per share[20] - The company reported a net profit attributable to shareholders excluding non-recurring gains and losses of -¥369,613,746.87, which is a 38.43% increase in losses compared to -¥266,995,839.08 in 2020[20] - The company reported a negative net profit for the year, with the lowest net profit after deducting non-recurring gains and losses also being negative[21] - The company achieved operating revenue of CNY 3.734 billion, an increase of 24.08% year-on-year, but reported a net profit attributable to shareholders of -CNY 368 million[33] - The company reported a net loss of RMB 368,420 thousand in 2021, compared to a profit of RMB 11,455 thousand in 2020[148] Assets and Liabilities - The company's total assets decreased by 13.87% from the end of 2020 to 4,457,611,299.31 CNY at the end of 2021[21] - Net assets attributable to shareholders decreased by 20.64% to 1,413,238,861.87 CNY at the end of 2021 compared to the end of 2020[21] - The company's total assets at the end of the reporting period were CNY 4.458 billion, a year-on-year decrease of 13.87%, and the net assets attributable to shareholders were CNY 1.413 billion, down 20.64% year-on-year[33] - The company's total liabilities include a significant portion of short-term borrowings, which accounted for 43.00% of total liabilities at year-end[65] - The group's debt-to-asset ratio is approximately 69.50%, compared to 65.19% in 2020, with total liabilities of RMB 3,097,863 thousand and total assets of RMB 4,457,611 thousand[169] Operational Changes and Strategy - The company underwent a change in its business scope, expanding into various manufacturing and service areas related to petroleum machinery[19] - The company plans not to distribute cash dividends or issue bonus shares[6] - The company aims to develop high-strength and high-toughness casing products to meet the increasing demand in oil exploration[56] - The company plans to optimize its product and customer structure, targeting major clients like PetroChina, Sinopec, and CNOOC to enhance market share and drive performance growth[83] - The company is focused on maintaining a sustainable and environmentally friendly energy equipment manufacturing industry, increasing investments in safety and environmental protection[85] Research and Development - The company has undertaken over 70 national and provincial-level research projects, establishing a strong R&D capability in the energy equipment sector[34] - The company has developed and launched several new products, including a hot air spray gun and high-strength oil pipes, which are now in production and expected to enhance competitive advantage[36] - Research and development expenses increased by 8.63% to ¥57,076,465.12 in 2021 from ¥52,542,810.96 in 2020[55] - The company’s R&D investment amounted to ¥49,978,469.51, a decrease of 5.72% compared to ¥53,013,350.91 in 2020[58] - The proportion of R&D investment to operating revenue was 1.34% in 2021, down from 1.76% in 2020, reflecting a decrease of 0.42%[58] Market and Sales Performance - Domestic sales accounted for 94.71% of total revenue, with a year-on-year increase of 30.16%, while international sales decreased by 32.38%[42] - Sales volume increased by 14.98% to 720,900 tons in 2021 from 627,000 tons in 2020[47] - Production volume rose by 25.14% to 727,800 tons in 2021 compared to 581,600 tons in 2020[47] - The gross profit margin for specialized equipment manufacturing was 5.89%, reflecting a year-on-year increase of 2.33%[44] Management and Governance - The company maintains independence from its controlling shareholder, with no interference in decision-making or operations, ensuring no misuse of control or fund occupation[92] - The board of directors consists of 9 members, including 3 independent directors, complying with legal and regulatory requirements[93] - The company has established a transparent performance evaluation and incentive mechanism for its directors and senior management[95] - The company has established a comprehensive internal control system, with the board of directors responsible for its implementation and the supervisory board overseeing its effectiveness[137] - The company has a structured decision-making process for determining the remuneration of its directors and senior management[118] Future Outlook - The company anticipates a gradual improvement in domestic economic development trends, driven by national energy security strategies and rising international crude oil prices, which will increase demand for oil and gas exploration and development[80] - The overall demand for the energy equipment manufacturing industry is projected to expand continuously due to accelerated oil and gas production and sustained capital expenditure growth[81] - In 2022, Shandong Molong aims to become an internationally recognized energy equipment manufacturing service provider, focusing on high-quality development and new product R&D[82] - Future performance guidance suggests a cautious optimism, with expectations of gradual revenue growth in the upcoming fiscal periods[103] Compliance and Risk Management - The company has established a risk management system to monitor and manage various risks associated with its operations[176] - The company received administrative penalties from the China Securities Regulatory Commission, with fines of 650,000 yuan for Liu Yunlong and 530,000 yuan for Liu Min due to information disclosure violations[116] - The company confirmed that there are no significant uncertainties regarding its ability to continue as a going concern[193] - The company maintained effective internal control over financial reporting with no significant deficiencies identified[144]