Financial Performance - The company achieved a revenue of RMB 1,947.2 million, an increase of RMB 190.0 million or 10.8% compared to the previous year[5]. - The profit attributable to the company's owners was RMB 16,745 thousand, up from RMB 13,241 thousand in the previous year, representing a growth of 26.5%[43]. - The basic earnings per share increased to RMB 0.009 from RMB 0.007, reflecting a growth of 28.6% year-over-year[43]. - The company achieved a significant increase in cash flow and overall profitability, exceeding expectations due to prudent financial policies and effective cash flow management strategies[46]. - The total revenue for the year ended December 31, 2023, was RMB 1,947,244 thousand, an increase from RMB 1,757,162 thousand in 2022, representing a growth of approximately 10.8%[81]. - EBITDA for the year ended December 31, 2023, was RMB 269,295 thousand, compared to RMB 258,721 thousand in 2022, reflecting an increase of about 4.5%[81]. - The company reported a net cash inflow from operating activities of RMB 142,105 thousand for the year ended December 31, 2023, compared to RMB 4,609 thousand in 2022, showing a significant improvement[93]. - The company reported a total of RMB 37,238,000 in recognized revenue from contract liabilities for the year, down from RMB 39,220,000 in 2022[113]. - The company's other income net amount for the year ended December 31, 2023, was RMB 12.3 million, compared to a net loss of RMB 7.6 million in the previous year[186]. - The company's asset impairment losses for the year ended December 31, 2023, were RMB 51.6 million, an increase of RMB 18.6 million or 56.4% from RMB 33.0 million in the previous year[191]. Revenue Segmentation - The revenue from the reservoir services segment was RMB 784.2 million, up RMB 91.8 million or 13.3%, with overseas revenue growing by 24.0% to RMB 301.2 million[26][27]. - The drilling services segment generated revenue of RMB 513.4 million, an increase of RMB 12.6 million or 2.5%, with overseas revenue rising by 6.4% to RMB 264.0 million[28][30]. - The completion services segment reported revenue of RMB 477.8 million, up RMB 55.6 million or 13.2%, with overseas revenue surging by 90.2% to RMB 241.1 million[31][32]. - The other services segment achieved revenue of RMB 171.8 million, an increase of RMB 30.1 million or 21.2%, with overseas revenue growing by 40.5% to RMB 61.9 million[33][35]. Market Expansion and Strategic Focus - The company is focusing on expanding its overseas markets, particularly in Central Asia, Southeast Asia, North America, the Middle East, and Africa, while adapting to the growing demand for green and renewable energy[11]. - The company is committed to enhancing its core oil service business while accelerating the development of its new energy business[9]. - The company is responding to China's dual carbon goals, with a strategic focus on CCUS industry layout and diversification of its industrial construction strategy[6]. - The company is focused on providing integrated solutions for oil and gas exploration and development, as well as carbon capture, utilization, and storage (CCUS) technology services[72]. - The group aims to expand into unconventional oil and gas, new energy, and CCUS sectors, focusing on sustainable growth and innovation in technology services[146]. Technological Advancements - The company has made significant breakthroughs in downhole temperature and pressure data acquisition technology, with the highest measured pressure reaching 182.4 MPa and temperature exceeding 185°C, and plans to implement this technology in June 2024[7]. - The company has successfully reduced drilling time from 8.54 min/m to 4.48 min/m in deep coal seam horizontal well drilling, significantly lowering drilling fluid and lubricant usage[8]. - The company has developed a multi-collaborative oil well production increase technology to address production declines in heavy oil wells, low-energy wells, and sand-producing wells[7]. - The company successfully developed new downhole tools, including a 25K downhole safety valve and a 10K high-temperature permanent packer, enhancing its capabilities in well completion services[40]. Operational Challenges and Financial Health - The company continues to face challenges in technology updates, environmental protection, and market competition, while the oil service market shows strong resilience domestically[3]. - The company's total liabilities decreased to RMB 1,625,967 million from RMB 1,657,454 million, indicating improved financial stability[67]. - The company's cash and cash equivalents increased to RMB 303.2 million from RMB 277.5 million, indicating improved liquidity[65]. - The company's investment activities resulted in a net cash outflow of RMB 60,906 thousand for the year ended December 31, 2023, compared to RMB 10,987 thousand in 2022, indicating increased investment activity[93]. - The net financing costs for the year ended December 31, 2023, were RMB 31.1 million, a decrease of RMB 6.3 million or 16.8% from RMB 37.4 million in the previous year[171]. Human Resources and Employee Management - The group employed a total of 4,199 staff as of December 31, 2023, down from 4,331 staff in 2022, a decrease of 132 employees[148]. - Employee compensation expenses for the year ended December 31, 2023, amounted to RMB 627.2 million, up RMB 35.3 million or 6.0% from RMB 591.9 million in the previous year[165]. - The group has implemented a strategic human resource plan to optimize talent allocation and ensure compliance and safety across global operations[148]. Environmental and Sustainability Efforts - The company is actively involved in the decarbonization efforts within the oil and gas sector, with 50 global companies joining the decarbonization charter[38]. - The group is committed to promoting green and low-carbon transformation in the oil and gas industry, integrating oil and gas exploration with new energy development[16].

Financial Performance - The company recorded revenue of RMB 843.1 million, an increase of RMB 110.3 million or 15.0% compared to the same period last year[8]. - Net profit for the period was RMB 6.8 million, a decrease of RMB 1.2 million or 15.1% year-on-year[8]. - Revenue from the Chinese market was RMB 493.6 million, a slight increase of RMB 0.8 million or 0.2%, accounting for 58.6% of total revenue[8]. - Revenue from overseas markets reached RMB 349.4 million, an increase of RMB 109.5 million or 45.6%, representing 41.4% of total revenue[8]. - For the six months ended June 30, 2023, the company achieved revenue of RMB 843.1 million, an increase of RMB 110.3 million or 15.0% compared to RMB 732.8 million in the same period last year[45]. - The company's profit for the period was RMB 6.8 million, a decrease from RMB 8.0 million in the same period last year[61]. - The company reported a total comprehensive income of RMB 44,455 thousand for the period, significantly higher than RMB 21,768 thousand in the same period last year[138]. - The net profit for the period was RMB 6,812 thousand, a decrease of 15.1% compared to RMB 8,027 thousand in the previous year[138]. - Basic and diluted earnings per share for the period were RMB 0.0049, down from RMB 0.0053 in 2022[136]. Revenue Breakdown by Segment - The drilling segment generated revenue of RMB 239.1 million, up RMB 59.7 million or 33.3% year-on-year, contributing 28.4% to total revenue[11]. - The completion segment's revenue was RMB 192.9 million, an increase of RMB 20.3 million or 11.7%, accounting for 22.9% of total revenue[11]. - Revenue from the Chinese market in the drilling segment was RMB 124.3 million, up RMB 28.0 million or 29.1%, primarily due to increased coalbed methane drilling activities[16]. - The overseas drilling segment revenue reached RMB 114.9 million, an increase of RMB 31.7 million or 38.1%, driven by higher work volumes in Kazakhstan[16]. - The completion segment revenue for the first half of 2023 was RMB 192.9 million, an increase of RMB 20.3 million or 11.7% year-on-year[20]. - Revenue from the Chinese market in the completion segment decreased to RMB 115.9 million, down RMB 13.6 million or 10.5%[20]. - The overseas completion segment revenue surged to RMB 77.0 million, an increase of RMB 33.9 million or 78.6%, mainly due to growth in Turkmenistan and Indonesia[20]. - Other segment revenue for the first half of 2023 was RMB 86.3 million, an increase of RMB 3.0 million or 3.6% compared to last year[22]. - Revenue from the Chinese market in the other segment decreased to RMB 47.3 million, down RMB 14.5 million or 23.5%[22]. - The overseas revenue in the other segment increased to RMB 39.0 million, up RMB 17.6 million or 82.0%, primarily from alcohol sales in Ghana[22]. Market and Strategic Focus - The company is focusing on customer-driven strategies and expanding into emerging markets while promoting low-carbon projects[9]. - The company continues to implement a "technology-driven development" strategy to enhance its technical capabilities through R&D and resource integration[9]. - The overseas revenue increase in the reservoir services segment was primarily driven by higher business volumes in Canada and Kazakhstan[15]. - The company plans to explore new strategic paths for energy transition and enhance cooperation with countries along the "Belt and Road" initiative[85]. - The company aims to leverage advanced technology solutions to meet increasing service and emission reduction demands, enhancing its market competitiveness[85]. - The company will continue to establish a long-term ESG management mechanism, integrating ESG principles into corporate decision-making and operations[87]. Financial Position and Assets - As of June 30, 2023, the company's inventory increased to RMB 599.4 million, up RMB 42.7 million or 7.7% from RMB 556.7 million at the end of 2022, driven by increased business activities[69]. - The company's total assets as of June 30, 2023, amounted to RMB 2,890,547 thousand, slightly up from RMB 2,882,558 thousand at the end of 2022[131]. - The company's total liabilities decreased to RMB 1,596,409 thousand from RMB 1,657,454 thousand, a reduction of approximately 3.7%[131]. - The company's equity attributable to shareholders increased to RMB 1,307,526 thousand from RMB 1,234,781 thousand, reflecting a growth of 5.9%[131]. - The net value of trade receivables as of June 30, 2023, was RMB 1,178,495,000, a slight increase from RMB 1,139,377,000 as of December 31, 2022[183]. - The total liabilities related to leases decreased to RMB 22,513,000 as of June 30, 2023, from RMB 28,061,000 at the end of 2022, indicating a reduction of 19.8%[176]. Shareholder and Governance Information - The company completed a placement of 100,000,000 new shares at a price of HKD 0.250 per share, raising approximately HKD 24.62 million for capital expenditures and general working capital[91]. - As of June 30, 2023, the company’s major shareholders include Credit Suisse Trust Limited with a 33.34% stake, Truepath Limited with 25.05%, and Elegant Eagle Investments Limited with 8.29%[101]. - The company’s board confirmed compliance with the corporate governance code and the standard code for securities transactions by directors for the six months ending June 30, 2023[89]. - The company has adopted high standards of corporate governance to protect shareholder interests and enhance corporate value[88]. - The company has confirmed that all directors complied with the standard code for securities transactions throughout the reporting period[89]. Employee and Compensation Information - Employee compensation expenses rose to RMB 280.6 million, an increase of RMB 14.4 million or 5.4% from RMB 266.2 million in the previous year, attributed to higher operational costs[48]. - The company trained a total of 63,583 participants in the first half of 2023, with a cumulative total of 69,863 training hours[43]. - The company incurred a total expense of RMB 2,683,000 related to share-based payment transactions recognized as part of employee benefits[192]. Technological Innovations - The company has achieved an 80% increase in drilling pressure transmission efficiency and a 30% reduction in application costs through the development of a new screw-type negative pressure pulse hydraulic oscillator[35]. - The company has delivered a 25K downhole safety valve, which has passed third-party testing and is set for use, marking an international first in this product category[36]. - The company has improved well repair efficiency by nearly 50% and saved approximately 15 days in project duration through targeted technological innovations[39]. - The company continues to focus on technology innovation and integration of traditional oil services with new energy technologies to drive sustainable growth[39].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 SPT Energy Group Inc. 華油能源集團有限公司* （於開曼群島註冊成立之有限公司） （股份代號：1251） 截至二零二三年六月三十日止六個月之 中期業績公告 中期業績摘要 截至二零二三年六月三十日止六個月，本集團收入為人民幣843.1百萬元，較上 年同期的人民幣732.8百萬元，增加人民幣110.3百萬元或15.0%。 截至二零二三年六月三十日止六個月，本公司擁有人應佔溢利為人民幣9.3百萬 元，較上年同期的人民幣9.8百萬元，減少人民幣0.5百萬元或5.1%。 董事會不建議向本公司股東派付截至二零二三年六月三十日止六個月的中期股 息（截至二零二二年六月三十日止六個月：無）。 ...

Financial Performance - The company reported a revenue of RMB 1,757.2 million for the fiscal year ending December 31, 2022, representing an increase from RMB 1,588.8 million in 2021[7]. - The net profit attributable to the company's owners was RMB 13.2 million, up from RMB 8.8 million in the previous year[7]. - The company achieved an operating profit of RMB 52.9 million, slightly down from RMB 53.4 million in 2021[7]. - The financing costs net amount was reduced to RMB 37.4 million in 2022 from RMB 42.0 million in 2021[7]. - The company reported a revenue of RMB 1,757.2 million for the fiscal year, an increase of RMB 168.4 million or 10.6% compared to the previous year[27]. - The net profit for the year was RMB 7.5 million, representing an increase of RMB 3.3 million or 78.6% year-on-year[27]. - The company maintained a prudent financial policy and a light asset operation strategy, demonstrating strong resilience and operational flexibility[27]. - The group did not recommend a final dividend for the year ended December 31, 2022, consistent with the previous year[125]. Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 2,882.6 million, compared to RMB 2,786.7 million in 2021[9]. - The company's total equity increased to RMB 1,225.1 million in 2022 from RMB 1,205.6 million in 2021[9]. - Non-current liabilities decreased significantly to RMB 85.4 million in 2022 from RMB 286.9 million in 2021[9]. - Property, plant, and equipment increased to RMB 430.1 million, up RMB 27.6 million or 6.9% from RMB 402.5 million the previous year[73]. - Inventory as of December 31, 2022, was RMB 556.7 million, an increase of RMB 49.4 million or 9.7% from RMB 507.3 million the previous year[78]. - Contract assets, trade receivables, and notes receivable increased to RMB 1,172.1 million, up RMB 142.8 million or 13.9% year-on-year[80]. Market and Strategic Focus - The company is focusing on transitioning to a low-carbon and sustainable development model in response to global energy trends[15]. - The company is committed to enhancing its position in the clean energy sector, aligning with national strategies for energy transformation[15]. - The company has implemented a strategy to enhance management efficiency through organizational reform and new technology applications, aiming for high-quality development and improved economic benefits[16]. - The company is actively expanding into emerging markets while deepening regional market cooperation, adapting to customer needs amid challenges in the oil service industry[17]. - The company emphasized its strategy of integrating resources and expanding into emerging markets and low-carbon projects[27]. - The company is committed to transitioning towards a sustainable and low-carbon future while expanding its role in the new energy sector[48]. Technological Innovation - The company has focused on technology-driven development, introducing new technical solutions in areas such as reservoir, drilling, completion, and fracturing, which have supported revenue growth[17]. - The company has developed a series of proprietary chemical products for oilfields, including the HYBEOR® series, which enhances oil recovery rates and fills a domestic technology gap[44]. - The company successfully developed and commercialized the HYBEOR® nano oilfield chemicals series, which has shown significant production enhancement effects in various oilfields[50]. - The company plans to commercialize a high-pressure PVT sampling device in February 2023, filling a domestic gap and stabilizing market share in high-pressure oil and gas fields[50]. - The company has achieved mass production of a 25,000 PSI downhole safety valve, marking a significant advancement in its completion tool manufacturing capabilities[52]. - The company continues to focus on technological innovation, with new technology solutions contributing significantly to revenue and profit growth amid a challenging market environment[49]. Environmental and Sustainability Initiatives - The company is committed to integrating ESG management into its corporate decision-making and operations[94]. - The company emphasizes a "green low-carbon" development philosophy, focusing on environmental protection and efficient resource utilization[111]. - The company achieved a "zero" target for environmental accidents during the reporting period, with no significant incidents related to environmental issues or legal penalties[112]. - The company actively promotes environmental management systems and has subsidiaries certified under ISO14000 environmental management standards[116]. - The company has implemented strict measures for waste management, ensuring compliance with discharge standards for wastewater, waste gas, and solid waste[117]. - The company encourages employees to adopt green commuting practices and promotes a paperless office environment through digital transformation[115]. International Expansion - The company has secured a 30-year exploration and development right for the Jabang Denga block in Indonesia, covering over 8,000 square kilometers, which is expected to significantly impact its business ecosystem[23]. - The company achieved significant growth in overseas markets, particularly in Kazakhstan, which remains a key market contributing substantial profits[41]. - The company has entered the African market in 2022 and plans to expand into the Indonesian market in 2023, indicating growth in international business[51]. - The company is expanding its international market presence by preparing to recruit global agents for high-end completion tools manufactured at its Singapore R&D center[41]. - The company has established strategic alliances with various domestic and international oilfield service suppliers to enhance its business development capabilities[122]. Governance and Management - The management team includes experienced professionals with over 30 years in the oil industry, enhancing the company's operational capabilities[107][108]. - The board of directors consists of three executive directors, two non-executive directors, and three independent non-executive directors, ensuring a high level of independence[195]. - The company has adopted the corporate governance code and has complied with all its provisions during the fiscal year ending December 31, 2022[191]. - The roles of the Chairman and CEO are separated, with Mr. Wang Guoqiang as Chairman and Mr. Wu Dongfang as CEO, ensuring clear responsibilities[199]. - The company emphasizes continuous professional development for all directors through training related to corporate governance and regulatory compliance[198]. Risks and Challenges - The company faces market risks due to fluctuations in international oil prices and the ongoing impact of the COVID-19 pandemic on global economic growth[121]. - The company is exploring new business opportunities and markets to seek additional profit growth, although future prospects remain uncertain[121]. - The company emphasizes the importance of diversifying its customer base to reduce reliance on major clients, particularly in the domestic market[122].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 SPT Energy Group Inc. 華油能源集團有限公司* （於開曼群島註冊成立的有限公司） （股份代號：1251） 截至二零二二年十二月三十一日止年度之業績公告 年度業績摘要 本集團截至二零二二年十二月三十一日止年度的收入為人民幣1,757.2百萬元， 較去年人民幣1,588.8百萬元，增加人民幣168.4百萬元，或10.6%。本公司權益 持有人應佔溢利為人民幣13.2百萬元，而去年本公司權益持有人應佔溢利為人 民幣8.8百萬元。 董事會並不建議向本公司股東派付截至二零二二年十二月三十一日止年度的末 期股息（截至二零二一年十二月三十一日止年度：無）。 業績 華油能源集團有限公司（「本公司」）董事會（「董事會」）宣佈本公司及其附屬公司 ...

Financial Performance - The company reported revenue of RMB 732.8 million for the first half of 2022, an increase of RMB 151.5 million or 26.1% compared to the same period last year[9]. - Net profit for the period was RMB 8.0 million, a decrease of RMB 6.8 million or 45.9% year-on-year[9]. - Revenue for the six months ended June 30, 2022, was RMB 732,777,000, representing a 26% increase from RMB 581,281,000 in the same period of 2021[124]. - The net operating profit for the period was RMB 33,911,000, down from RMB 41,646,000 in the previous year, indicating a decrease of approximately 18.5%[124]. - The total comprehensive income for the six months ended June 30, 2022, was RMB 21,768,000, compared to RMB 5,054,000 in the same period of 2021, showing a significant increase[127]. - Basic earnings per share for the six months ended June 30, 2022, were RMB 0.0053, down 45.4% from RMB 0.0097 in the same period of 2021[197]. Revenue Breakdown - Revenue from the Chinese market was RMB 492.9 million, up RMB 93.8 million or 23.5%, accounting for 67.3% of total revenue[9]. - Revenue from overseas markets reached RMB 239.9 million, an increase of RMB 57.7 million or 31.7%, representing 32.7% of total revenue[9]. - The oil reservoir segment generated revenue of RMB 297.4 million, a rise of RMB 52.0 million or 21.2%, contributing 40.6% to total revenue[12]. - The drilling segment reported revenue of RMB 179.5 million, a decrease of RMB 46.7 million or 20.6%, accounting for 24.5% of total revenue[12]. - The completion segment saw revenue of RMB 172.6 million, an increase of RMB 62.9 million or 57.3%, contributing 23.6% to total revenue[12]. Market and Strategic Focus - The company is focusing on emerging markets and low-carbon projects to align with customer energy transition needs[10]. - The company plans to increase upstream investment to meet domestic oil and gas demand, with major state-owned oil companies expected to raise capital expenditures by 2%, 20%, and 8% respectively in 2022[29]. - The company is actively integrating renewable energy technologies while promoting efficient low-emission technologies in traditional energy sectors[27]. - The company plans to strengthen its market expansion and explore emerging markets while focusing on high-end, intelligent, and low-carbon development[77]. Operational Highlights - The company produced 14 models of PDC drill bits in the first half of the year, transitioning from R&D to mass production, which is expected to enhance drilling efficiency and reduce costs[35]. - The company completed high-temperature downhole monitoring services in Bohai, achieving a stable bottom hole temperature of 165 degrees for over three and a half months, setting a new record for the area[33]. - The company has established a strong market position in the high-end completion market in Xinjiang, with continuous recognition from clients for its service quality[30]. - The company has signed a contract for a tight gas block drilling project with Zhonglian Coalbed Methane Co., Ltd., and is actively expanding its cooperation with CNOOC[32]. Cost and Expenses - Material costs for the six months ended June 30, 2022, were RMB 198.4 million, an increase of RMB 101.4 million or 104.5% compared to RMB 97.0 million in the same period last year, primarily due to business expansion[44]. - Employee benefits expenses for the same period were RMB 266.2 million, up RMB 40.3 million or 17.8% from RMB 225.9 million year-on-year, mainly due to increased labor costs from business expansion[45]. - The total operating costs increased to RMB 697,282,000 from RMB 540,593,000, marking a rise of approximately 29%[124]. Financial Position - Total assets as of June 30, 2022, amounted to RMB 2,606,059,000, a decrease from RMB 2,786,689,000 as of December 31, 2021[119]. - Total liabilities decreased to RMB 1,393,523,000 from RMB 1,581,049,000, with current liabilities also declining[121]. - The total equity attributable to owners of the company increased to RMB 1,218,451,000 from RMB 1,193,506,000[119]. - Cash and cash equivalents decreased to RMB 154,774,000 from RMB 359,415,000, indicating a significant reduction in liquidity[119]. Shareholder Information - As of June 30, 2022, Mr. Wang Guoqiang holds 651,484,000 shares, representing approximately 35.14% of the company's equity[86]. - Mr. Wu Dongfang also holds 651,484,000 shares, equivalent to 35.14% of the company's equity, as he is a beneficiary of the Widescope Trust[87]. - The company has a total of 224,337,666 stock options that remain unexercised but are available for exercise under the existing stock option plan as of June 30, 2022[98]. Training and Development - The company has implemented a training program that covered 15,536 participants in the first half of 2022, a 51% increase year-on-year, with a total of 15,963 training hours, up 127% from the previous year[41]. - The company will continue to build a high-level talent team and promote performance management systems to enhance employee engagement and capability[79].

Financial Performance - The company reported a revenue of RMB 1,588.8 million for the year ended December 31, 2021, an increase from RMB 1,289.3 million in 2020, representing a growth of approximately 23.3%[7]. - The net profit attributable to the company's owners was RMB 8.8 million, a significant recovery from a loss of RMB 91.2 million in the previous year[7][10]. - Operating profit for the year was RMB 53.4 million, compared to an operating loss of RMB 64.4 million in 2020, indicating a turnaround in operational performance[7]. - The company reported a revenue of RMB 1,588.8 million for the year, an increase of RMB 299.5 million or 23.2% compared to the previous year[23]. - The profit for the year was RMB 4.2 million, a significant turnaround from a loss of RMB 98.4 million in the previous year[23]. Assets and Liabilities - Total assets as of December 31, 2021, amounted to RMB 2,786.7 million, a slight increase from RMB 2,704.3 million in 2020[8]. - The company's total equity decreased to RMB 1,205.6 million from RMB 1,231.4 million in 2020, reflecting a decline of approximately 2.1%[8]. - Non-current assets were reported at RMB 647.2 million, down from RMB 679.0 million in 2020, indicating a decrease of about 4.7%[8]. - Current liabilities increased to RMB 1,294.2 million from RMB 1,171.2 million in 2020, representing an increase of approximately 10.5%[8]. Market Position and Strategy - The company aims to enhance its position as a leading international energy service provider amidst changing global energy policies and market demands[10][13]. - The ongoing COVID-19 pandemic has created challenges but also opportunities for the company to innovate and adapt to new market needs[13]. - The company is focusing on new technologies to meet evolving market demands in the oil and gas sector[13]. - The group plans to enhance its market development capabilities and competitiveness while focusing on technological innovation and management practices[19]. - The group aims to consolidate its traditional markets in China while expanding into new regions such as Iraq and various African countries[19]. Revenue Segmentation - The revenue from the reservoir segment was RMB 741.977 million, up 32.5% from RMB 559.786 million in the previous year[26]. - The drilling segment generated revenue of RMB 567.631 million, reflecting a 30.6% increase from RMB 434.644 million in the previous year[26]. - The completion segment's revenue decreased by 5.3% to RMB 279.191 million from RMB 294.837 million in the previous year[26]. - The domestic reservoir revenue surged by 51.8% to RMB 494.8 million, accounting for 66.7% of the total reservoir segment revenue[30]. - The overseas reservoir revenue increased by 5.7% to RMB 247.2 million, representing 33.3% of the total reservoir segment revenue[30]. Technological Advancements - In 2021, the group made significant technological advancements, including breakthroughs in carbonate rock deep well workover operations and the optimization of completion tools[16]. - The company has successfully implemented new technologies in well completion and fracturing, resulting in over 20% increase in single well production in the Changning shale gas block[50]. - The company has strengthened its R&D efforts, leading to the development of new technologies that have contributed to revenue growth amid low industry prices[47]. - The company has successfully applied high-temperature rotary steering technology in Sichuan shale gas wells, addressing industry challenges related to high-temperature operations[48]. Environmental, Social, and Governance (ESG) - The group recognizes the importance of environmental, social, and governance (ESG) factors and will integrate these principles into its decision-making processes[19]. - The group achieved a zero-accident target for environmental pollution and ecological damage in 2021[119]. - The group has implemented an environmental management system certified by ISO14000 across several subsidiaries[121]. - The group has expanded the application of environmental protection technologies to reduce energy consumption and greenhouse gas emissions[122]. Future Outlook - The global economic growth outlook for 2022 remains positive, which is expected to drive an increase in oil and gas demand[17]. - The company anticipates a recovery in the oilfield services industry as exploration and development investments increase and international oil prices rise[40]. - The company is actively exploring emerging markets and low-carbon projects to align with customer demands and energy transition trends[24]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12%[106]. Shareholder Information - As of December 31, 2021, Mr. Wang Guoqiang and Mr. Wu Dongfang each held 651,484,000 shares, representing approximately 35.14% of the company's equity[154]. - Major shareholders include Widescope Holdings Limited with 140,372,000 shares (7.57%) and Elegant Eagle Investments Limited with 161,972,000 shares (8.74%)[160]. - Truepath Limited holds 489,512,000 shares, accounting for approximately 26.41% of the company's equity[160]. - The company has no rights granted to directors or their family members to benefit from purchasing company shares or bonds as of December 31, 2021[159]. Employee and Compensation - The company’s workforce increased to 4,504 employees as of December 31, 2021, up 565 from 3,939 employees the previous year[55]. - The company is committed to building a high-level talent pool and fostering employee development through major technology projects and innovation teams[100]. - The company has adopted a stock option plan as a reward for eligible employees[149]. - The company is enhancing its compensation structure to build an incentive system aimed at performance orientation[150].

Financial Performance - For the first half of 2021, the company recorded revenue of RMB 581.3 million, a decrease of RMB 27.8 million or 4.6% compared to the same period last year[12]. - The net profit for the same period was RMB 14.8 million, down RMB 3.8 million or 20.4% year-on-year[12]. - Revenue from the Chinese market was RMB 399.1 million, a decrease of RMB 38.2 million or 8.7%, accounting for 68.7% of total revenue[12]. - Revenue from overseas markets increased to RMB 182.2 million, up RMB 10.4 million or 6.1%, representing 31.3% of total revenue[12]. - The company's material costs decreased to RMB 97.0 million, down RMB 44.4 million or 31.4% from RMB 141.4 million year-on-year, primarily due to changes in business structure[40]. - Employee compensation expenses increased to RMB 225.9 million, an increase of RMB 18.0 million or 8.7% compared to RMB 207.9 million in the previous year, mainly due to an increase in personnel and the end of government social security contribution reductions[41]. - The group's operating profit for the six months ended June 30, 2021, was RMB 41.6 million, a decrease from RMB 44.2 million in the same period last year, reflecting a decline of 5.9%[49]. - The net financing costs increased to RMB 20.2 million, up 27.0% from RMB 15.9 million year-on-year, primarily due to increased interest expenses from enhanced financing efforts[50]. - The group's profit for the period was RMB 14.8 million, down 20.4% from RMB 18.6 million in the previous year, mainly impacted by the oil and gas industry's situation and the pandemic[52]. - The equity attributable to the company's owners was RMB 17.9 million, a decrease of 16.4% from RMB 21.4 million year-on-year[53]. - The company reported a net other income of RMB 1.0 million, a turnaround from a net loss of RMB 3.8 million in the same period last year, mainly due to currency fluctuations[39]. Revenue Segmentation - The oil reservoir segment generated revenue of RMB 245.4 million, an increase of RMB 17.5 million or 7.7% year-on-year, contributing 42.2% to total revenue[15]. - The drilling segment achieved revenue of RMB 226.1 million, up RMB 40.2 million or 21.6%, accounting for 38.9% of total revenue[15]. - The completion segment saw revenue decline to RMB 109.7 million, down RMB 85.5 million or 43.8%, contributing 18.9% to total revenue[15]. - Revenue from the Chinese market in the drilling segment was RMB 174.5 million, up RMB 38.5 million or 28.3% year-on-year, driven by increased drilling and workover activities in Xinjiang[22]. - The overseas drilling segment revenue reached RMB 51.6 million, a slight increase of RMB 1.6 million or 3.3% compared to the previous year[22]. - Revenue from the Chinese market in the completion segment was RMB 71.8 million, down RMB 112.3 million or 61.0% compared to last year[24]. - The overseas completion segment revenue surged to RMB 38.0 million, an increase of RMB 26.8 million or 239.2%, mainly from the growth in Turkmenistan's completion tools business[24]. - Revenue from China was RMB 399,101 thousand, while revenue from Kazakhstan was RMB 100,845 thousand for the six months ended June 30, 2021[149]. Operational Strategy - The company emphasized a strategy of technological innovation and market expansion to enhance competitiveness in response to industry challenges[12]. - The company is actively expanding its business in offshore oil exploration and development, having won a drilling service project in a tight gas block from China United Coalbed Methane Corporation[29]. - The company plans to leverage its workover platform to expand into fishing technology services, oil pipe teams, and oil extraction projects, further broadening its business scope[28]. - The company successfully completed drilling operations in the Tarim Oilfield, receiving high recognition from clients for service quality[28]. - The company successfully implemented new technologies in various fields, including high-temperature and high-pressure PVT sampling tools and enhanced oil recovery chemicals, leading to significant production improvements and market opportunities[30]. - The company completed two successful well constructions using advanced rotary steering and magnetic ranging technologies, receiving high praise from clients[31]. Financial Position - Total assets as of June 30, 2021, were RMB 2,583,244,000, down from RMB 2,704,341,000 at the end of 2020, a decline of 4.5%[120]. - The company's total liabilities decreased to RMB 1,345,368,000 from RMB 1,472,970,000, a reduction of 8.6%[120]. - Cash and cash equivalents were reported at RMB 223,341,000, down from RMB 321,618,000, indicating a decrease of 30.6%[120]. - Inventory increased to RMB 529,531,000 from RMB 436,400,000, reflecting a rise of 21.3%[120]. - The capital debt ratio rose to 48.1%, an increase of 2.9% from 45.2% at the end of 2020[61]. - The group did not have any significant investments or future plans for major investments or capital assets during the period[64][65]. - The group has a capital expenditure commitment of RMB 21.8 million and operating lease commitments of RMB 16.5 million as of June 30, 2021[73]. - The group anticipates accelerated growth in global oil demand in the second half of 2021 due to ongoing economic recovery and increased vaccination rates[75]. Shareholder Information - The group has a total of 651,484,000 shares held by Mr. Wang Guoqiang and Mr. Wu Dongfang, representing approximately 35.14% of the company's equity[83]. - Major shareholders include Truepath Limited with 489,512,000 shares, representing 26.41% of the company's equity[89]. - Credit Suisse Trust Limited holds 711,642,242 shares, accounting for 38.39% of the company's equity[89]. - Widescope Holdings Limited owns 140,372,000 shares, representing 7.57% of the company's equity[89]. - Elegant Eagle Investments Limited holds 161,972,000 shares, accounting for 8.74% of the company's equity[89]. - Greenwoods Asset Management Hong Kong Limited holds 119,000,000 shares, representing 6.42% of the company's equity[89]. Employee and Management - The company’s workforce increased to 4,177 employees as of June 30, 2021, up by 238 from 3,939 employees at the end of 2020, while maintaining actual labor costs within budget[37]. - The group is focused on employee development and innovation-driven performance management systems[76]. - Total remuneration for key management personnel increased to RMB 6,328,000 in the first half of 2021, up from RMB 4,972,000 in 2020, representing a growth of 27.3%[197]. - Salary and other short-term benefits for key management personnel rose to RMB 5,040,000 in H1 2021, compared to RMB 2,626,000 in H1 2020, marking an increase of 92.5%[197]. - Share-based payments decreased to RMB 772,000 in H1 2021 from RMB 2,023,000 in H1 2020, reflecting a decline of 61.8%[197]. - Retirement benefits and other compensation for key management personnel increased to RMB 516,000 in H1 2021, up from RMB 323,000 in H1 2020, showing a growth of 60.0%[197]. Corporate Governance - The group is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[78]. - The group will continue to build a long-term environmental, social, and governance management mechanism to enhance overall sustainability[76].

| --- | --- | --- | --- | |-------|----------------------------------------------|-------|-------| | | | | | | | | | | | | | | | | | | | | | 2020 | | | | | SPT | SPT Energy Group Inc. 華油能源集團有限公司 * | | | (於開曼群島註冊成立的有限公司) 股份代號： 1251 × 僅供識別 ( ff f for the first ATT 10 . > D ( 目錄 公司資料 2 財務概要 4 主席報告 6 管理層討論與分析 10 董事與高級管理層履歷 25 董事會報告 30 企業管治報告 45 環境、社會及管治報告 58 獨立核數師報告 75 合併資產負債表 82 合併利潤表 84 合併全面收益表 85 合併權益變動表 86 合併現金流量表 88 合併財務報表附註 89 2 華油能源集團有限公司 二零二零年年報 公司資料 | --- | --- | |----------------------------------|--- ...

Financial Performance - For the six months ended June 30, 2020, SPT Energy Group reported revenue of RMB 609.1 million, a decrease of RMB 145.6 million or 19.3% compared to the same period last year[9]. - The net profit for the same period was RMB 18.6 million, down RMB 56.6 million or 75.3% year-on-year[9]. - Revenue from the Chinese market was RMB 437.2 million, a decrease of RMB 30.8 million or 6.6%, accounting for 71.8% of total revenue[9]. - Revenue from overseas markets was RMB 171.9 million, a decrease of RMB 114.8 million or 40.0%, accounting for 28.2% of total revenue[9]. - The group's revenue for the six months ended June 30, 2020, was RMB 609.1 million, a decrease of RMB 145.6 million or 19.3% compared to RMB 754.7 million in the same period last year, primarily due to the impact of the pandemic and falling oil prices[31]. - The group reported a net loss of RMB 3.8 million from other income, compared to a net income of RMB 3.4 million in the same period last year, mainly due to foreign exchange losses[32]. - Operating profit for the period was RMB 44.2 million, a decrease of RMB 59.4 million or 57.3% from RMB 103.6 million in the previous year[41]. - The group’s profit for the period was RMB 18.6 million, a decrease of RMB 56.6 million or 75.3% from RMB 75.2 million in the same period last year[44]. - The equity holders' profit attributable to the company was RMB 21.4 million, down RMB 53.8 million or 71.5% from RMB 75.2 million year-on-year[45]. - The EBITDA for the reportable segments was RMB 138,127 thousand for the six months ended June 30, 2020, down 29.2% from RMB 195,203 thousand in the same period of 2019[147]. Revenue Breakdown - The drilling segment revenue was RMB 185.973 million, down RMB 126.2 million or 40.4% year-on-year[12]. - The completion segment revenue was RMB 195.247 million, a slight decrease of RMB 1.1 million or 0.6% year-on-year[12]. - The reservoir segment revenue was RMB 227.920 million, down RMB 18.3 million or 7.4% year-on-year[12]. - Revenue from the drilling segment was RMB 185,973 thousand, a decrease of 40.5% compared to RMB 312,219 thousand in the same period of 2019[139]. - Revenue from the completion segment was RMB 195,247 thousand, which remained relatively stable compared to RMB 196,356 thousand in the same period of 2019[139]. - Revenue from the reservoir segment was RMB 227,920 thousand, a decrease of 7.4% from RMB 246,172 thousand in the same period of 2019[139]. - Revenue from Kazakhstan was RMB 106.5 million, down 23.7% year-on-year, primarily due to reduced investment from oil companies amid the pandemic and low oil prices[22]. - Revenue from Kazakhstan was RMB 106,491 thousand, down 23.7% from RMB 139,515 thousand in the same period of 2019[148]. - Revenue from Indonesia was RMB 17,765 thousand, a decrease of 26.7% compared to RMB 24,284 thousand in the same period of 2019[148]. Cost and Expenses - Material costs decreased to RMB 141.4 million, down RMB 37.8 million or 21.1% from RMB 179.2 million year-on-year, attributed to a contraction in business operations[33]. - Employee benefits expenses were RMB 207.9 million, a decrease of RMB 15.8 million or 7.1% from RMB 223.7 million in the previous year, due to improved human resource management and temporary reductions in social security contributions[34]. - The net financing cost increased to RMB 15.9 million, up RMB 3.2 million or 25.2% from RMB 12.7 million year-on-year, due to increased interest expenses from heightened financing efforts[42]. - The company reported a total of RMB 194,082,000 in financial assets as of June 30, 2020, up from RMB 140,602,000 as of December 31, 2019, representing an increase of 37.9%[162]. - The total interest expense on bank loans for the six months ended June 30, 2020, was RMB (10,398,000), an increase from RMB (8,090,000) in 2019, reflecting a rise of approximately 28.6%[183]. Assets and Liabilities - Total assets as of June 30, 2020, amounted to RMB 2,873,415 thousand, a decrease from RMB 3,131,474 thousand as of December 31, 2019, representing a decline of approximately 8.2%[110]. - Total liabilities decreased to RMB 1,367,029 thousand from RMB 1,631,905 thousand, representing a reduction of 16.2%[117]. - The company’s total liabilities as of June 30, 2020, were RMB 730,804 thousand, compared to RMB 731,979 thousand as of December 31, 2019, indicating a slight decrease[125]. - The company’s non-current liabilities, including borrowings, amounted to RMB 158,253 thousand, a substantial increase from RMB 47,403 thousand year-on-year[117]. - The total deferred tax liabilities as of June 30, 2020, were RMB 21,964,000, compared to RMB 19,890,000 in 2019, showing an increase of approximately 10.4%[179]. Corporate Governance - The company has adopted high standards of corporate governance to protect shareholder interests and enhance corporate value and accountability[69]. - The company has complied with the corporate governance code as of June 30, 2020, and will continue to review and enhance its governance practices[69]. - The company will continue to review and enhance its corporate governance practices to ensure compliance with the corporate governance code[69]. Future Outlook and Strategy - The company plans to enhance R&D investment in new technologies and tools, with a focus on applications in drilling, completion, and environmental protection[25]. - The company will continue to focus on the Chinese market, leveraging its technical service advantages in the high-end drilling and completion market to help clients achieve low-cost stable production and efficient gas field production[66]. - The current situation demands higher requirements for innovation in oil and gas exploration technology and information technology, prompting the company to accelerate the promotion and application of new technologies to enhance core competitiveness[67]. - The company plans to focus on promoting new technologies in the second half of 2020, anticipating a broad market outlook[28]. Shareholder Information - As of June 30, 2020, the company’s major shareholder, Mr. Wang Guoqiang, holds 648,484,000 shares, representing approximately 34.98% of the company's equity[74]. - Mr. Wu Dongfang, another major shareholder, also holds 648,484,000 shares, equivalent to approximately 34.98% of the company's equity[75]. - Widescope Holdings Limited holds 137,372,000 shares, representing 7.41% of the company[80]. - Elegant Eagle Investments Limited owns 158,972,000 shares, accounting for 8.58% of the company[80]. - Truepath Limited and Red Velvet Holdings Limited each hold 489,512,000 shares, which is 26.41% of the company[80]. - Credit Suisse Trust Limited acts as a trustee for 711,642,242 shares, representing 38.39% of the company[80]. Cash Flow and Investments - The net cash used in operating activities for the six months ended June 30, 2020, was RMB 101,701 thousand, compared to RMB 47,964 thousand for the same period in 2019, indicating a significant increase in cash outflow[128]. - The net cash used in investing activities was RMB 105,720 thousand for the six months ended June 30, 2020, compared to RMB 91,354 thousand in the previous year, showing an increase in investment expenditures[128]. - The financing activities generated a net cash inflow of RMB 236,566 thousand, while cash outflows for repayment of borrowings totaled RMB 211,476 thousand during the same period[128]. - The company’s cash flow from financing activities was impacted by a significant increase in borrowings, reflecting a strategic move to enhance liquidity during the period[128].