1 证券代码：600339 证券简称：中油工程 编号：临 2021-024 中国石油集团工程股份有限公司 关于参加 2021 年新疆辖区上市公司 投资者网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状况、融资 计划、股权激励、可持续发展等投资者所关心的问题，中国石油集团工程股份有 限公司（以下简称"公司"）定于 2021 年 6 月 18 日（星期五）下午 15:00-17:30 参加由新疆上市公司协会联合深圳市全景网络有限公司组织开展的 2021 年新疆 辖区上市公司投资者网上集体接待日活动。现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网 络远程的方式举行，投资者可以登录全景网"投资者关系互动平台"网站 （http://ir.p5w.net/）或关注微信公众号：全景财经（微信号：p5w2012），参 与公司本次投资者集体接待日活动。 出席本次集体接待日的人员有：公司董事长白玉光先生、总经理王新 ...

Financial Performance - Total revenue for Q1 2021 reached RMB 13.38 billion, an increase of 38.14% compared to RMB 9.69 billion in the same period last year[4] - Net profit attributable to shareholders was RMB 132.93 million, a significant recovery from a net loss of RMB 415.74 million in Q1 2020[4] - Operating revenue increased by 38.14% to CNY 13.38 billion compared to the previous year[10] - Net profit attributable to shareholders was CNY 132.93 million, a turnaround from a net loss of CNY 415.74 million in the previous year[11] - The company reported a total comprehensive income of ¥134,370,477.46 for Q1 2021, compared to a loss of ¥416,442,290.85 in Q1 2020[27] - The company reported a net loss of CNY 1,409,550,11 in Q1 2021, compared to a net loss of CNY 595,163.06 in Q1 2020, indicating a significant increase in losses year-over-year[28] - The total comprehensive loss for Q1 2021 was CNY -1,409,550,11, compared to CNY -595,163.06 in Q1 2020[29] Cash Flow and Liquidity - Operating cash flow improved to a net outflow of RMB 5.41 billion, compared to a net outflow of RMB 7.41 billion in the previous year[4] - Cash received from sales and services rose by 55.31% to CNY 15.87 billion, driven by increased project payments[11] - The company’s cash flow from financing activities showed a net outflow of CNY -1,533,891,808.79 in Q1 2021, compared to CNY -15,669,062.50 in Q1 2020[31] - The net cash flow from operating activities for Q1 2021 was CNY 1,520,346,951.06, a significant increase from CNY 295,393.88 in Q1 2020, reflecting a growth of approximately 414,000%[33] - Cash and cash equivalents decreased by 23.50% to RMB 22.82 billion, primarily due to cash outflows from operating activities[9] - The cash and cash equivalents at the end of Q1 2021 stood at CNY 22,592,647,035.93, down from CNY 23,563,271,098.52 at the end of Q1 2020[32] Assets and Liabilities - Total assets decreased by 2.78% to RMB 103.35 billion from RMB 106.31 billion at the end of the previous year[4] - Total liabilities amounted to ¥1,228,852,804.96, while total equity was ¥24,851,426,794.68 as of the end of Q1 2021[24] - The company’s total liabilities decreased from ¥81.63 billion to ¥78.55 billion, a reduction of approximately 4%[19] - Non-current liabilities increased significantly from ¥1.74 billion to ¥2.46 billion, representing an increase of about 41%[19] - The company’s total assets were valued at ¥26,080,279,599.64 at the end of Q1 2021[24] - The total current assets were reported at CNY 98,110,432,581.78, showing a slight increase from CNY 98,101,967,491.83[36] Shareholder Information - The total number of shareholders at the end of the reporting period was 71,628, with the largest shareholder holding 54.29% of the shares[6] - Basic earnings per share for Q1 2021 were ¥0.0238, compared to a loss of ¥0.0745 per share in Q1 2020[27] - Total equity attributable to shareholders rose from ¥24.62 billion to ¥24.74 billion, an increase of about 0.5%[19] Operational Metrics - New contracts signed in Q1 totaled CNY 20.21 billion, a 15.4% increase year-over-year, with domestic contracts accounting for CNY 18.15 billion[12] - Operating costs rose by 35.69% to CNY 12.43 billion, reflecting the increase in revenue[10] - R&D expenses surged by 229.77% to CNY 76.42 million, indicating a significant investment in technology development[10] - The company incurred operating expenses of CNY 22,255,141,789.28 in Q1 2021, compared to CNY 18,867,296,674.85 in Q1 2020, representing an increase of about 17.5%[31] Other Financial Metrics - Financial expenses turned from a net loss of CNY 149.9 million in the previous year to a net gain of CNY 30 million this period, due to foreign exchange gains[10] - Other income increased by 84.71% to CNY 13.18 million, primarily from increased VAT refunds[10] - The company reported interest expenses of CNY 1,096,941.84 in Q1 2021, while interest income was CNY 1,123,315.62, resulting in a net interest income of CNY 26,373.78[28]

Financial Performance - The company's operating revenue for 2020 was ¥70,698,459,420.85, representing an increase of 8.68% compared to ¥65,053,897,862.60 in 2019[13]. - The net profit attributable to shareholders of the listed company for 2020 was ¥855,021,961.15, a 6.38% increase from ¥803,757,988.23 in 2019[13]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥763,086,768.79, which is a significant increase of 28.39% compared to ¥594,349,090.07 in 2019[13]. - The net cash flow from operating activities for 2020 was -¥347,380,004.73, an improvement from -¥2,392,623,844.57 in 2019[13]. - Basic earnings per share for 2020 were ¥0.1531, reflecting a 6.32% increase compared to ¥0.1440 in 2019[15]. - The weighted average return on net assets increased to 3.55% in 2020 from 3.38% in 2019, marking an increase of 0.17 percentage points[15]. - The company reported a total operating income of ¥25,761,193,021.04 in Q4 2020, with a net profit attributable to shareholders of ¥229,402,518.63[16]. - The company reported a net profit of ¥691,612,149.84 in Q2 2020, recovering from a loss of ¥415,736,246.92 in Q1 2020[16]. - The total new contract value signed was 96.53 billion RMB, marking a 1.7% year-on-year increase[27]. - The gross profit from main business operations was 5.316 billion RMB, with a growth of 7.51% year-on-year[30]. Cash Flow and Dividends - The proposed cash dividend is ¥0.46 per 10 shares, totaling ¥256,824,783.67, which accounts for 30.04% of the net profit attributable to shareholders[3]. - The company does not plan to increase capital reserves or issue new shares for 2020[3]. - The company reported a net decrease in cash and cash equivalents of 1.375 billion yuan, with a net cash outflow from operating activities of 347 million yuan, a year-on-year decrease of 2.045 billion yuan[42]. - The cash dividend policy remains unchanged, ensuring a balance between investor returns and sustainable development[65]. - The company distributed cash dividends totaling approximately ¥256.82 million in 2020, representing 30.04% of the net profit attributable to ordinary shareholders[67]. Operational Efficiency and Risk Management - The company has a commitment to high-quality development and reform, ensuring a focus on risk management and operational efficiency[4]. - There were no significant risks that materially affected the company's operations during the reporting period[4]. - The company has maintained compliance with decision-making procedures and has not provided guarantees in violation of regulations[4]. - The company recognizes the seasonal characteristics of the oil and gas engineering construction industry, with peak construction periods concentrated in the second and third quarters[22]. - Major risks include market risk influenced by global economic uncertainty and oil price fluctuations, with strategies to optimize market layout and enhance client relationship management[63]. Market Position and Expansion - The company ranked 5th among the top 10 international oil and gas engineering contractors in the ENR 2020 list, improving by 4 places year-on-year[24]. - The company operates in over 60 countries and regions, emphasizing risk management to mitigate various types of risks[63]. - The company is positioned to capitalize on the high correlation with upstream industries such as construction materials and engineering machinery, which are affected by economic development and consumption levels[22]. - The company aims to maintain its leading position in the textile and chemical fiber industry while expanding into new economic growth areas[21]. - The company plans to expand its oil and gas pipeline network by over 25,000 kilometers during the 14th Five-Year Plan period[58]. Research and Development - Research and development expenses increased by 2.88 million RMB, reflecting a focus on innovation[28]. - The total R&D investment for the year was 1.35 billion RMB, representing 1.90% of operating revenue[41]. - The company employed 5,043 R&D personnel, which is 11.39% of the total workforce[41]. - The R&D budget has increased by 20% to support innovation and new technology development[106]. Environmental and Social Responsibility - The company has not reported any environmental pollution or ecological damage incidents for several consecutive years, emphasizing its commitment to environmental protection[90]. - The company has committed to local employment, ensuring that at least 65% of the workforce for projects comes from the local area[84]. - The company invested 1.76 million RMB in vocational skills training, benefiting 74 individuals[85]. - The company has actively engaged in community support, investing RMB 130,000 in educational resources and community activities[84]. Governance and Compliance - The company has maintained a healthy governance structure, ensuring that its board and management operate independently from its controlling shareholder[71]. - The independent auditor issued a standard unqualified opinion on the financial statements for the year ended December 31, 2020[122]. - The company has not faced any major litigation or arbitration matters during the reporting period, indicating a stable legal standing[73]. - The company has established a performance evaluation mechanism for senior management based on annual goals and work performance[121]. Future Outlook - The company plans to expand its market presence and invest in new product development in the upcoming year[145]. - The company aims to implement a four-strategy approach focusing on innovation, green development, integration, and internationalization to enhance competitiveness and service capabilities[59]. - The company anticipates that the share of organic low-carbon investments among major European oil companies will rise from 7% in 2019 to 16% by 2025[58].

Financial Performance - Operating revenue for the first three quarters was ¥44.94 billion, representing a year-on-year growth of 26.17%[6] - Net profit attributable to shareholders was ¥625.62 million, up 52.45% year-on-year[5] - Basic earnings per share rose to ¥0.1121, a 52.52% increase compared to the same period last year[5] - The company reported a net cash flow from operating activities of -¥7.19 billion, an improvement from -¥11.44 billion in the same period last year[5] - The company reported a 44.70% increase in investment income to ¥13.89 million, primarily due to higher returns from joint ventures[12] - Total operating revenue for Q3 2020 reached ¥16,589,766,411.83, a 16.5% increase from ¥14,238,287,338.37 in Q3 2019[22] - Net profit for Q3 2020 was ¥351,737,380.17, compared to ¥329,486,568.66 in Q3 2019, reflecting a 6.4% increase[23] - The company’s net profit attributable to shareholders was ¥349,743,539.60 in Q3 2020, compared to ¥330,303,769.71 in Q3 2019, marking a 5.0% increase[23] Assets and Liabilities - Total assets at the end of the reporting period reached ¥101.61 billion, an increase of 9.13% compared to the end of the previous year[5] - The company's current assets totaled ¥93.99 billion, up from ¥84.93 billion in the previous year, indicating a growth of about 10.5%[17] - Total liabilities increased to ¥77.41 billion from ¥69.31 billion, which is an increase of about 11.4%[18] - The company's equity attributable to shareholders rose to ¥24.15 billion from ¥23.75 billion, reflecting an increase of approximately 1.7%[18] - The company reported a current liability total of ¥74.99 billion, up from ¥67.16 billion, indicating an increase of about 11.5%[17] - The total amount of new contracts signed in Q3 2020 was ¥314.28 billion, representing 49.04% of the total for the year[14] - The company has a total guarantee balance of ¥286.28 billion for subsidiaries, with 33 guarantees currently in effect[14] Cash Flow - Cash and cash equivalents decreased to ¥23.29 billion from ¥31.15 billion, reflecting a decline of approximately 25.1% year-over-year[16] - The company received CNY 44.19 billion in cash from sales of goods and services in the first nine months of 2020, an increase from CNY 42.14 billion in the same period of 2019[27] - The net cash flow from operating activities was -1,044,531,831.32 RMB for the first three quarters of 2020, compared to 71,347,964.35 RMB in the same period of 2019[30] - Cash inflow from financing activities was 1,500,000,000.00 RMB, with a net cash flow of 1,253,216,511.28 RMB, compared to -291,220,076.99 RMB in the same period of 2019[31] - The total cash inflow from financing activities was 1,533,560,622.00 RMB, reflecting the company's efforts to secure funding[28] Research and Development - The company's R&D expenses increased by 149.11% year-on-year to ¥231.13 million, reflecting a significant investment in technology development[12] - Research and development expenses in Q3 2020 amounted to ¥107,206,576.31, significantly higher than ¥36,431,102.62 in Q3 2019, indicating a 194.5% increase[22] Financial Position Changes - Financial expenses increased to ¥2.38 billion, primarily due to exchange rate fluctuations, resulting in a net foreign exchange loss of ¥0.29 billion[6] - The company recorded a 980.84% increase in other current liabilities to ¥2.51 billion, attributed to adjustments under new revenue standards[10] - The company implemented new revenue recognition standards effective January 1, 2020, with no significant impact on retained earnings[35] - The company reclassified certain receivables and liabilities under the new revenue recognition standards, impacting contract assets and liabilities[35]

Financial Performance - Operating revenue for the first three quarters was ¥44.94 billion, representing a year-on-year growth of 26.17%[4] - Net profit attributable to shareholders was ¥625.62 million, a significant increase of 52.45% year-on-year[4] - Basic earnings per share rose to ¥0.1121, up 52.52% compared to the previous year[3] - The weighted average return on equity increased by 0.88 percentage points to 2.61%[3] - The company reported a 44.70% increase in investment income, amounting to ¥13.89 million, due to higher returns from joint ventures[10] Cash Flow and Liquidity - The net cash flow from operating activities for the first three quarters was -¥7.19 billion, an improvement from -¥11.44 billion in the same period last year[3] - The company reported a net cash outflow from operating activities, leading to a 25.23% decrease in cash and cash equivalents, totaling ¥23.29 billion compared to ¥31.15 billion at the end of the previous year[9] - The company's short-term borrowings decreased by 100%, down to ¥0 from ¥1.5 billion, as subsidiaries repaid their loans[9] Cost Management and Efficiency - The company focused on cost reduction and efficiency improvement, leading to a decrease in selling and administrative expenses by ¥1.85 billion year-on-year[4] - Research and development expenses increased by 149.11% year-on-year, reaching ¥231.13 million, reflecting the company's commitment to enhancing technology development[10] - The company’s cash paid for the purchase of fixed assets decreased by 59.17%, amounting to ¥197.63 million, reflecting reduced capital expenditures[10] Shareholder Information - The total number of shareholders at the end of the reporting period was 57,564, with the largest shareholder holding 54.29% of the shares[6] Contracts and Projects - The company signed new contracts worth ¥640.77 billion in the first three quarters, a 24.69% increase year-on-year, with domestic contracts accounting for ¥566.51 billion and overseas contracts for ¥74.26 billion[11] - Key projects such as Guangdong Petrochemical and Amur Gas Processing Plant are progressing smoothly, enhancing operational efficiency[4] Government Support and Subsidies - The company received government subsidies amounting to ¥19.80 million during the reporting period, which are closely related to its normal business operations[5] Liabilities and Financial Stability - The accounts payable increased by 25.22%, totaling ¥28.10 billion, primarily due to increased project subcontracting and equipment procurement[9] - The company recorded a significant increase in other current liabilities, up 980.84% to ¥2.51 billion, due to adjustments related to new revenue standards[9] - The company has a total of 33 ongoing guarantees with a cumulative amount of ¥286.28 billion, indicating stable financial backing for its subsidiaries[12] Foreign Exchange and Market Impact - The company reported a net foreign exchange loss of ¥294 million, a significant increase compared to a net gain of ¥253 million in the previous year[10]

Financial Performance - The company achieved operating revenue of CNY 28.35 billion, a year-on-year increase of 32.61%[11] - The net profit attributable to shareholders reached CNY 275.88 million, an increase of 244.56% compared to the previous year[11] - The basic earnings per share were CNY 0.0494, up 245.45% from CNY 0.0143 in the same period last year[13] - The gross profit increased by 11.02% year-on-year, indicating effective cost control measures[14] - The company reported a total profit for the first half of 2020 reached ¥538,691,858.69, an increase of 33.9% compared to ¥402,318,700.11 in the same period of 2019[86] - Net profit attributable to shareholders of the parent company was ¥275,875,902.92, up from ¥80,066,055.97, representing a growth of 244.5% year-over-year[86] - The total comprehensive income for the first half of 2020 was ¥280,029,474.28, significantly higher than ¥82,857,596.78 in the first half of 2019, reflecting a growth of 237.5%[87] Cash Flow and Liquidity - The company reported a net cash outflow from operating activities of CNY 8.15 billion, which is a reduction of CNY 1.24 billion compared to the previous year[14] - Cash inflow from operating activities for the first half of 2020 was CNY 30,229,809,275.60, an increase of 11.4% compared to CNY 27,059,505,544.16 in the first half of 2019[90] - Cash outflow from operating activities totaled CNY 38,382,247,299.76, up from CNY 36,450,819,545.06 in the same period last year, resulting in a net cash flow from operating activities of -CNY 8,152,438,024.16, an improvement from -CNY 9,391,314,000.90[90] - The ending balance of cash and cash equivalents was CNY 22,705,542,609.63, down from CNY 24,507,966,435.13 at the end of the first half of 2019[91] Assets and Liabilities - The total assets at the end of the reporting period were CNY 99.04 billion, reflecting a 6.36% increase from the previous year[11] - The company's total liabilities were CNY 2,288,162,901.31, representing 2.31% of total assets, with a notable increase in estimated liabilities by 1,252.20%[34] - The total assets as of June 30, 2020, were ¥27,804,209,423.51, up from ¥25,983,977,636.21 at the end of 2019, marking an increase of 7%[84] - Total liabilities increased to ¥75,181,237,609.12 from ¥69,307,707,648.81, reflecting an increase of about 8.5%[82] Operational Efficiency - The company is actively advancing key projects such as the Guangdong Petrochemical and Amur Gas Processing Plant despite challenges from low oil prices and the COVID-19 pandemic[14] - The company has implemented measures to manage cash flow and reduce operational costs amid the pandemic[14] - The company plans to reduce project costs and improve budget execution to enhance efficiency and cost control capabilities[46] Market and Business Strategy - The company is focused on expanding its upstream business in oil and gas field surface engineering and enhancing its liquefied natural gas technology to reach world-class standards[18] - The company is actively exploring innovative business models such as F+EPC, BOT, and PPP to meet diverse client needs and adapt to market changes[17] - The company aims to achieve significant breakthroughs in international markets by enhancing its project management capabilities and establishing a competitive project management service brand[19] Risk Management - The company has not faced any significant risks that could materially impact its operations during the reporting period[4] - The company is actively managing various risks, including market risks due to global economic uncertainties and oil price fluctuations, and has implemented strategies to enhance market resilience[42] - The company has established a risk warning mechanism and emergency response system to address major unexpected events, such as pandemics and natural disasters[43] Corporate Governance and Compliance - The company is committed to tax risk management by ensuring compliance with tax laws and regulations in both domestic and international projects[43] - The company has committed to maintaining the integrity of its shareholder rights and obligations in accordance with relevant laws and regulations[51] - The company will ensure that its financial accounting department operates independently, establishing its own accounting system and financial management procedures[53] Environmental and Social Responsibility - The company invested a total of RMB 2.699 million in poverty alleviation efforts during the first half of 2020, achieving notable results[66] - The company has established a comprehensive environmental risk prevention and emergency response system to manage environmental impacts[72] - The company is committed to enhancing its pollution control facilities and ensuring compliance with environmental regulations[72] Accounting Policies and Changes - The company implemented the new revenue recognition standards starting January 1, 2020, affecting the financial statements without adjusting prior periods[74] - The company has implemented significant accounting policy changes affecting various financial statement items, including a notable increase in contract liabilities[171] - The company recognizes expected credit losses for receivables and other financial instruments, ensuring compliance with relevant accounting standards[130]

证券代码：600339 证券简称：中油工程 编号：临 2020-020 中国石油集团工程股份有限公司 关于参加 2020 年新疆辖区上市公司 投资者网上集体接待日活动的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 为便于广大投资者更深入全面地了解公司情况、发展战略、经营状况、融资 计划、股权激励、可持续发展等投资者所关心的问题，中国石油集团工程股份有 限公司（以下简称"公司"）定于 2020 年 6 月 24 日（星期三）下午 15:00-17:30 参加由新疆上市公司协会联合深圳市全景网络有限公司组织开展的 2020 年新疆 辖区上市公司投资者网上集体接待日活动。现将有关事项公告如下： 本次集体接待日活动将在深圳市全景网络有限公司提供的网上平台，采取网 络 远 程 的 方 式 举 行 ， 投 资 者 可 以 登 录 " 全 景 · 路 演 天 下 " 网 站 （http://rs.p5w.net/）或关注微信公众号：全景财经（微信号：p5w2012），参 与公司本次投资者集体接待日活动，活动时间为 2020 年 ...

Financial Performance - The company's operating revenue for 2019 was CNY 65,053,897,823, representing a 9.57% increase compared to CNY 59,374,416,599 in 2018[20] - The net profit attributable to shareholders of the listed company decreased by 16.75% to CNY 803,757,988 from CNY 965,531,579.66 in the previous year[20] - The net cash flow from operating activities was negative at CNY -2,392,623,848, a significant decline compared to CNY 8,687,348,446 in 2018[21] - Total assets at the end of 2019 were CNY 93,113,583,031, a decrease of 1.45% from CNY 94,486,053,781 at the end of 2018[21] - The company's net assets attributable to shareholders increased to CNY 23,752,256,923, reflecting a growth of 0.49% from CNY 23,635,645,958 in 2018[21] - The company reported a decrease of 29.75% in net profit after deducting non-recurring gains and losses, amounting to CNY 594,349,090[20] - Basic and diluted earnings per share were both 0.1440 RMB, down by 16.71% from the previous year[22] - The weighted average return on equity was 3.38%, a decrease of 0.78 percentage points compared to the previous year[22] Revenue Breakdown - In 2019, the company achieved operating revenue of 65.054 billion RMB, a year-on-year increase of 9.57%, with main business revenue of 64.611 billion RMB, also up by 9.56%[24] - The oil and gas field surface engineering segment generated 28.30 billion CNY, accounting for 43.81% of total revenue, with a gross profit of 1.95 billion CNY and a gross margin of 6.87%[64] - The pipeline and storage engineering segment achieved 17.81 billion CNY in revenue, representing 27.56% of total revenue, with a gross profit of 1.32 billion CNY and a gross margin of 7.43%[65] - The refining and chemical engineering segment reported 14.74 billion CNY in revenue, making up 22.81% of total revenue, with a gross profit of 1.22 billion CNY and a gross margin of 8.29%[65] - Domestic revenue was 39.36 billion CNY, a year-on-year growth of 20.34%, accounting for 60.92% of total revenue[65] - International revenue was 25.25 billion CNY, a decline of 3.86%, representing 39.08% of total revenue[65] Cash Flow and Investments - The company reported a net cash flow from operating activities of -2.39 billion RMB, a decrease of 127.54% compared to the previous year[60] - The company’s investment activities generated a net cash outflow of 548 million RMB, reflecting ongoing capital expenditures[60] - The company’s short-term borrowings increased to 1.5 billion yuan, primarily due to increased borrowings by subsidiaries[96] - The company’s accounts payable decreased by 14.64% to 22.441 billion yuan, attributed to payments for subcontracting and procurement[97] - The company’s expected liabilities increased by 54.54% to 42.212 million yuan, reflecting provisions for pending litigation[99] Research and Development - Research and development expenses surged by 105.70% to 307 million RMB, indicating a strong focus on innovation[60] - The total amount of research and development investment was 875.45 million RMB, accounting for 1.35% of total revenue[82] - The company completed 20 national-level research projects and 86 projects at the China National Petroleum Corporation level, highlighting its commitment to technological advancement[57] - The company applied for 379 new patents and received 240 authorizations, including 67 invention patents, demonstrating a commitment to innovation[190] Strategic Initiatives - The company aims to enhance its natural gas liquefaction technology to reach world-class levels and develop unconventional core technologies for coalbed methane, tight gas, and shale gas[35] - The company maintains a flexible and diverse business model, actively exploring innovative commercial models such as F+EPC, BOT, and PPP to meet diverse client needs[34] - The company is focused on environmental engineering, developing technologies for wastewater treatment and carbon capture, aligning with national pollution control initiatives[44] - The company is committed to optimizing processes and reducing energy consumption in refining and chemical engineering, aiming for international advanced levels[36] Market Position and Competition - The company is the largest integrated oil engineering service provider in China, facing increasing competition in the domestic oil and gas engineering construction market[116] - The global oil and gas upstream spending is projected to average USD 65 billion per year from 2019 to 2030, indicating a significant market opportunity[119] - The company anticipates a peak in LNG storage facility construction in the near future, as China is expected to become the world's largest LNG importer by 2030[120] - The company is adapting to industry challenges posed by fluctuating oil prices and the COVID-19 pandemic while exploring long-term growth opportunities in the energy sector[118] Corporate Governance and Compliance - The company has committed to reducing and regulating related party transactions, ensuring fair pricing and compliance with legal procedures[153] - The company has also made commitments to avoid competition with its parent company, ensuring that its core business remains focused on oil and gas engineering services[154] - The company has established a project settlement management mechanism to address accounts receivable risks, including the formation of a leadership team for debt collection and regular aging analysis[139] - The company emphasizes QHSE management to mitigate quality, safety, and environmental risks, with regular evaluations of management responsibilities and strict supervision of on-site operations[140] Social Responsibility and Community Engagement - In 2019, the company invested CNY 8.2935 million in poverty alleviation efforts, achieving positive progress in various areas[181] - The company provided CNY 3.52 million for training and placement of 55 workers in the southern Xinjiang region[182] - The company helped 791 registered poor individuals to escape poverty through various initiatives[184] - The company has provided CNY 2.5 million in donations to support local communities and improve living standards[183] Dividend Policy - The company maintains a cash dividend policy that prioritizes cash distributions when conditions are met, ensuring a reasonable return to investors while supporting sustainable development[144] - The company has a policy that requires at least 30% of the average distributable profit over the last three years to be distributed in cash[145] - The company plans to distribute a cash dividend of CNY 0.44 per 10 shares (including tax), totaling CNY 245,658,488.72, based on a total share capital of 5,583,147,471 shares as of December 31, 2019[150]

Financial Performance - Net profit attributable to shareholders was -¥415.74 million, a decrease of 736.19% year-on-year[4] - Operating revenue for the period was ¥9.69 billion, representing a year-on-year increase of 3.64%[4] - The gross profit margin decreased to 5.44%, down 4.26 percentage points year-on-year, with gross profit of ¥527 million, a decrease of ¥380 million[6] - Basic earnings per share were -¥0.0745, a decrease of 736.75% compared to the previous year[4] - Net profit attributable to shareholders decreased by 736.19% to -¥415,736,246.92 from ¥65,347,842.74, mainly due to reduced gross profit and increased financial expenses[10] - The net profit for Q1 2020 was -416,407,621.48 CNY, compared to a profit of 64,980,577.54 CNY in Q1 2019, indicating a significant decline[25] - The total profit for Q1 2020 was -278,548,555.32 CNY, down from 216,388,675.33 CNY in the same period last year[25] - The total comprehensive income for Q1 2020 was -416,442,290.85 CNY, compared to 64,958,936.54 CNY in Q1 2019[26] Assets and Liabilities - Total assets at the end of the reporting period reached ¥94.38 billion, an increase of 1.36% compared to the end of the previous year[4] - As of March 31, 2020, the company had a total liability of approximately ¥94.38 billion, an increase from ¥93.11 billion at the end of 2019[19] - Total liabilities increased to ¥70,988,005,628.82 from ¥69,307,707,648.81, marking a rise of about 2.4%[22] - Total assets decreased to ¥93,113,583,031.14 from ¥95,475,451,310.38, a reduction of ¥2,361,868,279.24[40] - Current assets totaled ¥84,930,948,322.39, down from ¥87,292,816,601.63, reflecting a decrease of ¥2,361,868,279.24[40] - Total liabilities amounted to ¥69,307,707,648.81, a decrease from ¥71,669,575,928.05, showing a reduction of ¥2,361,868,279.24[38] Cash Flow - Cash and cash equivalents decreased by 23.85% to ¥23,718,139,161.21 from ¥31,147,411,134.25 due to increased net cash outflow from operating activities[9] - Cash flow from operating activities in Q1 2020 was 10,220,265,879.33 CNY, a decrease from 11,745,127,897.86 CNY in Q1 2019[29] - Cash outflow from operating activities totaled 18,867,296,674.85 RMB, an increase of approximately 7% from 17,602,313,848.89 RMB[31] - Cash flow from investment activities showed a net outflow of -52,366,037.41 RMB, compared to -2,138,489.69 RMB in the previous year, reflecting a significant increase in outflow[31] - The ending balance of cash and cash equivalents was 23,563,271,098.52 RMB, down from 27,917,272,131.90 RMB, a decrease of approximately 15.7%[32] Contracts and Projects - The company signed 1,014 new projects with a total contract value of ¥17.79 billion, an increase of 57.60% compared to the same period last year[6] - As of the end of the first quarter, the company had a total of ¥70.92 billion in contracts that were won but not yet signed[6] Cost Management - The company has implemented a cost control strategy, emphasizing that "all costs can be reduced," and has established a comprehensive management system for receivables[13] - The company aims to enhance market resilience by focusing on core business and key markets, improving project execution, and optimizing management operations[12] Challenges and Responses - The company faced significant challenges due to the COVID-19 pandemic and low oil prices, impacting project organization and cost control[5] - The company actively promoted the resumption of work and production, focusing on key projects to drive overall recovery[5] Investment and Financial Strategy - The company plans to optimize its investment structure, directing limited funds towards projects with better prospects and returns[14] - Financial expenses increased by 43.87% to ¥134,339,539.02 from ¥93,373,050.89, primarily due to a decrease in interest income[10] Equity and Shareholder Information - The total equity attributable to shareholders decreased to ¥23,342,394,671.97 from ¥23,752,256,946.45, reflecting a decline of about 1.7%[22] - The company reported a total of ¥3.78 billion in guarantees provided to subsidiaries, with no performance guarantees issued during the reporting period[15]

Financial Performance - Net profit attributable to shareholders was CNY 410.37 million, down 21.84% year-on-year [5]. - Operating revenue for the first three quarters reached CNY 35.62 billion, an increase of 2.72% year-on-year [6]. - The gross profit margin improved to 7.40%, an increase of 1.07 percentage points year-on-year [6]. - The main business revenue from oil and gas field surface engineering increased by 14.07% to CNY 16.48 billion, driven by successful project progress in Russia and the Middle East [6]. - Basic earnings per share decreased to CNY 0.0735, down 21.81% compared to the same period last year [5]. - The weighted average return on net assets was 1.73%, a decrease of 0.55 percentage points year-on-year [5]. - Net profit for the first three quarters of 2019 was CNY 915,017,013.27, up from CNY 804,180,816.32 in the same period of 2018, indicating a growth of approximately 13.8% [23]. - The net profit for Q3 2019 was CNY 329,486,568.66, a decrease from CNY 402,160,902.26 in Q3 2018, representing a decline of approximately 18.0% [25]. - The total profit for Q3 2019 was CNY 523,535,097.39, compared to CNY 507,465,198.88 in Q3 2018, showing an increase of about 3.3% [25]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 94.37 billion, a decrease of 0.13% compared to the end of the previous year [5]. - As of the end of the reporting period, cash and cash equivalents decreased by 32.33% to RMB 22.40 billion from RMB 33.10 billion at the end of the previous year [11]. - Accounts receivable decreased by 100% to RMB 0.00, reflecting adjustments in accordance with new financial instrument standards [11]. - Inventory increased by 36.03% to RMB 33.38 billion, primarily due to an increase in completed but unsettled labor items [11]. - Total liabilities reached CNY 70,962,746,329.13, compared to CNY 70,777,664,658.04 in the previous year, showing a slight increase [21]. - The total equity attributable to shareholders decreased to CNY 23,352,915,892.79 from CNY 23,635,645,958.92, a decline of about 1.2% [21]. - The company’s short-term borrowings increased by 724.89% to RMB 1.50 billion, primarily due to new borrowings by subsidiaries [13]. - The company’s total liabilities to subsidiaries amounted to RMB 22.56 billion, with a guarantee balance of RMB 32.39 billion at the end of the reporting period [16]. Cash Flow - Cash flow from operating activities showed a significant decline, with a net cash outflow of CNY 11.44 billion, a decrease of 348.11% year-on-year [5]. - The net cash flow from operating activities was negative RMB 11.44 billion, a decrease of 348.11% compared to RMB 4.61 billion in the previous year [16]. - The total cash outflow from operating activities in the first three quarters of 2019 was CNY 57,908,551,839.21, up from CNY 48,702,801,144.18 in 2018 [32]. - The cash inflow from financing activities was CNY 2,067,802,527.50, an increase from CNY 228,470,035.74 in the same period of 2018 [33]. - The net cash flow from financing activities was CNY 662,884,863.84, compared to -CNY 108,325,432.27 in the previous year [33]. Investments and Acquisitions - The company completed the acquisition of 70% equity in Shanghai Huanqiu Engineering Co., Ltd. and 100% equity in China Petroleum Pipeline Engineering Co., Ltd. [6]. - The company’s investment income decreased by 74.22% to RMB 9.60 million, primarily due to a reduction in interest from Angolan government bonds [14]. - The investment income for the first three quarters of 2019 was CNY 412,193,800.00, an increase from CNY 342,308,900.00 in the same period of 2018, representing a growth of about 20.4% [28]. Expenses - The company reported a 52.73% increase in selling expenses to RMB 72.63 million, mainly due to increased technical service fees and transportation costs [14]. - The company’s management expenses for Q3 2019 were CNY 6,105,789.91, down from CNY 8,738,835.30 in Q3 2018, indicating a decrease of approximately 30.0% [28]. - Research and development expenses for Q3 2019 were CNY 36,431,102.62, compared to CNY 31,090,383.99 in Q3 2018, marking an increase of approximately 17% [24]. Shareholder Information - The company reported a total of 59,348 shareholders at the end of the reporting period [9]. - The company’s undistributed profits amounted to ¥2,844,457,826.08, reflecting a decline of ¥105,929,525.16 from the last reporting period [41].