Financial Performance - The company's operating revenue for the first half of 2020 was ¥130,933,545.09, a decrease of 7.21% compared to ¥141,099,716.99 in the same period last year[19]. - The net profit attributable to shareholders for the first half of 2020 was ¥28,961,976.67, an increase of 15.32% from ¥25,113,437.58 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 22,022,650.23, up 4.76% year-on-year[33]. - The basic earnings per share for the first half of 2020 was ¥0.14, reflecting a growth of 16.67% compared to ¥0.12 in the same period last year[19]. - The total comprehensive income for the first half of 2020 was approximately 28.96 million, with a decrease of 496,944.84 compared to the previous period[102]. - The company reported a net loss of CNY 11,794,880.09 for the period, indicating a significant decline in profitability compared to previous periods[106]. - The total revenue for the first half of 2020 was 1,070,444,343.92 CNY, compared to 1,003,090,241.63 CNY in the same period of 2019, representing an increase of approximately 6.7%[117]. Cash Flow and Liquidity - The net cash flow from operating activities decreased significantly by 1,067.92%, resulting in a net outflow of ¥11,094,213.53 compared to a positive cash flow of ¥1,146,188.02 in the same period last year[20]. - Cash and cash equivalents increased by 93.78% to ¥353,362,219.53, compared to ¥182,352,684.85 in the same period last year[41]. - Operating cash flow for the first half of 2020 was negative at -9,011,790.37 RMB, compared to a positive 3,810,960.17 RMB in the same period of 2019[97]. - The company reported a net increase in cash and cash equivalents of 48,288,703.52 RMB, compared to a decrease of -86,028,764.85 RMB in the same period of 2019[98]. - The total cash inflow from investment activities reached 635,134,719.31 RMB, significantly up from 262,092,303.86 RMB in the previous year, indicating a strong increase of approximately 142.5%[98]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,206,892,973.59, a slight decrease of 0.44% from ¥1,212,176,633.38 at the end of the previous year[19]. - The total liabilities decreased to CNY 118,938,795.75 from CNY 133,424,844.83, indicating a reduction of approximately 10.8%[84]. - The total owner's contributions amounted to 4,586,422.51, reflecting the company's ongoing investment strategy[102]. - The total liabilities at the end of the reporting period were approximately 430,997,883.68, showing a manageable level of debt relative to assets[104]. Operational Challenges - The company faced challenges due to the COVID-19 pandemic and a significant drop in oil prices, impacting cash flow and sales recovery[20]. - The company is facing risks related to declining oil demand due to the global economic slowdown caused by the pandemic[44]. - International political tensions may negatively impact the demand for the company's oil drilling equipment in international markets, as exploration activities could be reduced or interrupted[46]. - The company has implemented measures to enhance market expansion, focusing on order acquisition and market share growth in response to potential impacts from oil prices[34]. Research and Development - The company continues to focus on the development of automation and intelligent products in oil and gas drilling and repair equipment[28]. - The company emphasizes technological innovation and has set up high-standard R&D platforms, including a provincial-level research center[27]. - The company has strengthened its R&D efforts for new technologies and products to maintain a leading position in the drilling equipment market, responding to diverse specifications and continuous innovation demands[45]. - The company has applied for multiple patents to accelerate new product development, viewing it as a key strategy for overcoming challenges and seizing market opportunities[34]. Shareholder Information - The actual controller and major shareholders have committed to not transferring their shares for 36 months post-listing, ensuring stability in shareholding[50]. - The company completed the grant of 2,673,000 restricted shares to 160 incentive recipients at a grant price of 5.83 RMB per share[53]. - The total number of ordinary shareholders at the end of the reporting period was 17,390[64]. - The largest shareholder, Cao Caihong, held 30,069,752 shares, representing 14.59% of the total shares[66]. Compliance and Governance - There were no major lawsuits or arbitration matters during the reporting period[56]. - The company has not been subject to any penalties or corrective actions related to its directors, supervisors, senior management, or controlling shareholders[57]. - The company has not disclosed any significant related party transactions during the reporting period[56]. - The company strictly adhered to environmental regulations and did not face any penalties for violations during the reporting period[59]. Financial Reporting and Accounting Policies - The company implemented changes in accounting policies effective from January 1, 2020, but these are not expected to have a significant impact on financial reporting[59]. - The company adheres to the enterprise accounting standards, ensuring the financial statements reflect a true and complete picture of its financial status[128]. - The financial statements are prepared based on the principle of continuous operation, indicating stability in operations[125].

2020 年第一季度报告 公司代码：603036 公司简称：如通股份 江苏如通石油机械股份有限公司 2020 年第一季度报告 1 / 19 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 7 | 2020 年第一季度报告 √适用 □不适用 单位：元 币种：人民币 3 / 19 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 1,212,951,818.14 1,212,176,633.38 0.06 归属于上市公司 股东的净资产 1,071,166,541.08 1,056,972,011.55 1.34 年初至报告期末 上年初至上年报告期末 比上年同期增减(%) 经营活动产生的 现金流量净额 -6,418,406.93 -22,659,141.90 71.67 年初至报告期末 上年初至上年报告期末 比上年同期增减（%） 营业收入 62,276,203.57 63,214,706.06 -1.48 归属于上市公司 股东的净利润 11,901,318.27 6,422,64 ...

Financial Performance - The company's operating revenue for 2019 was ¥298,859,040.24, representing a 24.21% increase compared to ¥240,610,810.59 in 2018[19]. - The net profit attributable to shareholders for 2019 was ¥64,823,672.76, a significant increase of 65.88% from ¥39,078,425.91 in 2018[20]. - The net profit after deducting non-recurring gains and losses was ¥55,455,028.51, which is a 120.63% increase compared to ¥25,134,838.84 in 2018[20]. - The net cash flow from operating activities reached ¥54,949,005.17, marking a 146.85% increase from ¥22,259,891.74 in 2018[20]. - Total profit reached 76.35 million yuan, up 68.66% year-on-year[43]. - Net profit amounted to 65.03 million yuan, reflecting a year-on-year increase of 68.91%[43]. - The company reported a net profit of 64,823,672.76 RMB for 2019, with a cash dividend payout ratio of 38.14%[82]. - The company reported a total comprehensive income for the year of CNY 1,022,547,622.25, reflecting a significant increase compared to the previous year[193]. Assets and Liabilities - The total assets at the end of 2019 were ¥1,212,176,633.38, a 7.28% increase from ¥1,129,947,580.41 at the end of 2018[21]. - The total liabilities were reported at CNY 1,056,972,011.55, showing a manageable debt level relative to equity[200]. - The company's cash and cash equivalents were ¥304,664,426.92, compared to ¥269,794,700.87 in 2018, representing a growth of approximately 12.9%[171]. - The company's accounts receivable decreased to ¥169,275,019.99 from ¥182,479,125.97, showing a decline of approximately 7.2%[171]. - Total current liabilities increased to ¥112,110,088.22 from ¥82,556,957.77, marking a rise of about 35.8%[172]. Research and Development - The company focuses on R&D and sales of oil and gas drilling equipment, with a strong customer base including major oil companies like CNPC and Sinopec[29]. - The company is enhancing its product line by developing innovative hydraulic products and automated wellhead equipment to meet market demands[29]. - Research and development expenses grew by 36.83% to ¥15,207,160.07, accounting for 5.09% of total operating revenue[57]. - The company has made significant investments in R&D, establishing high-level research platforms to enhance technological innovation[36]. - The company is focusing on the development of automated and intelligent drilling equipment, with several new products entering the market[36]. Market and Competition - The oil and gas drilling equipment industry is experiencing a recovery, with increased demand linked to rising oil prices since 2017, leading to a robust sales trend in 2019[31]. - The company anticipates increased competition in the industry due to global economic contraction and fluctuating oil prices[70]. - Future competition will focus on comprehensive strength and risk resistance capabilities among companies[71]. - Companies that can quickly respond to customer needs and enhance customized R&D capabilities will have a competitive advantage[71]. - The company plans to expand its market presence and invest in new product development to drive future growth[195]. Shareholder and Stock Information - The company plans to distribute a cash dividend of ¥1.2 per 10 shares, totaling ¥24,723,960, pending shareholder approval[6]. - The total share capital increased from 203,360,000 shares to 206,033,000 shares due to the completion of the restricted stock incentive plan, adding 2,673,000 shares[111]. - The stock incentive plan's grant price was set at 5.83 RMB per share[118]. - The largest shareholder, Cao Caihong, holds 30,069,752 shares, accounting for 14.59% of the total shares[122]. - The company has committed to a share lock-up period of 36 months from the date of its stock listing, during which shareholders cannot transfer or entrust their shares to others[84]. Operational Efficiency - The company has maintained a stable operational model, focusing on production based on sales contracts and limited inventory to balance production capacity[30]. - The company emphasized the importance of product quality control, implementing a comprehensive quality management system[35]. - The company has established a complete quality control standard system based on API standards and other industry standards[36]. - The company is committed to optimizing production processes and management systems to improve efficiency and product supply capabilities[76]. Financial Management - The company reported a significant reduction in financial expenses, which decreased by 61.87% to -¥2,094,694.02 due to favorable exchange rate fluctuations[55]. - The company has implemented a stock incentive plan, granting 2,673,000 restricted shares at a price of 5.83 RMB per share to 160 employees[97]. - The company has invested a total of RMB 28 million in bank wealth management products using funds from the initial public offering, with an outstanding balance of RMB 11.5 million[100]. - The company has not reported any overdue amounts in its wealth management investments[100]. Governance and Compliance - The company held 2 shareholder meetings and 7 board meetings during the reporting period, ensuring compliance with relevant laws and regulations[144][145]. - The supervisory board held 6 meetings, with a structure that includes employee representatives, ensuring effective oversight of management[146]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2019[156]. - The company did not report any significant deficiencies in internal controls during the reporting period[153].

Financial Performance - Net profit attributable to shareholders rose by 89.25% to CNY 48,265,856.13 for the first nine months of the year[6] - Operating revenue for the first nine months increased by 40.97% to CNY 213,058,294.83 compared to the same period last year[6] - The company reported a net profit excluding non-recurring gains and losses of CNY 41,608,776.13, up 124.85% year-on-year[6] - Net profit for Q3 2019 was ¥48,925,517.80, reflecting a 90.97% increase from ¥25,620,034.48 year-over-year, attributed to higher sales volume[13] - The net profit for the first three quarters of 2019 was ¥31,849,972.45, compared to ¥15,298,041.24 in the same period of 2018, showing a growth of 108.5%[23] - The net profit for Q3 2019 was CNY 22,802,923.92, compared to CNY 46,259,918.96 in Q3 2018, indicating a year-over-year decrease of about 51.8%[27] - The total profit for Q3 2019 reached ¥26,571,523.47, compared to ¥12,144,535.60 in Q3 2018, marking an increase of approximately 119%[25] Earnings and Shareholder Information - Basic and diluted earnings per share both increased by 84.62% to CNY 0.24[7] - The total number of shareholders at the end of the reporting period was 18,515[12] - The largest shareholder, Cao Caihong, holds 14.79% of the shares, totaling 30,069,752 shares[12] - Basic and diluted earnings per share for Q3 2019 were both CNY 0.11, compared to CNY 0.23 in Q3 2018, reflecting a decline of 52.2%[28] Assets and Liabilities - Total assets increased by 2.84% to CNY 1,162,056,251.41 compared to the end of the previous year[6] - The company’s total liabilities decreased to ¥102,377,991.45 from ¥107,399,958.16, indicating improved financial stability[18] - The company’s total assets as of Q3 2019 amounted to ¥1,140,829,263.50, up from ¥1,108,524,567.54 at the end of Q3 2018[23] - The total liabilities as of Q3 2019 amounted to CNY 107,399,958.16, with total equity at CNY 1,022,547,622.25, indicating a strong equity position relative to liabilities[37] Cash Flow and Investments - Net cash flow from operating activities decreased by 1.59% to CNY 9,767,507.31 for the first nine months[6] - Cash inflow from operating activities totaled CNY 209,929,278.23 for the first nine months of 2019, an increase from CNY 161,473,040.23 in 2018, representing a growth of approximately 29.9%[29] - The net cash flow from investing activities was negative CNY 9,518,848.33 in the first nine months of 2019, an improvement from negative CNY 384,942,475.91 in the same period of 2018[30] - The company reported cash inflow from investment activities of CNY 399,804,099.92 in the first nine months of 2019, a significant increase from CNY 4,121,840.77 in the same period of 2018[30] Operational Efficiency - Accounts receivable increased by 82.61% to ¥54,539,002.23 from ¥29,866,857.17, indicating a rise in product sales[13] - The company reported a significant increase in operating profit, which rose by 106.13% to ¥56,651,681.26 from ¥27,483,550.02, attributed to increased production and sales[13] - Total operating costs for Q3 2019 were ¥47,280,929.20, up from ¥45,751,044.79 in Q3 2018, reflecting a rise of 3.3%[23] - Inventory was reported at CNY 152,643,562.11, which is crucial for assessing operational efficiency[39] Research and Development - Research and development expenses for Q3 2019 were ¥1,989,317.14, compared to ¥1,886,505.12 in Q3 2018, reflecting a 5.5% increase[23] - The company has not disclosed any new product developments or market expansion strategies in this report[41] Government Support - The company received government subsidies amounting to CNY 2,149,263.70 during the reporting period[8]

Financial Performance - The company's operating revenue for the first half of 2019 reached ¥141,099,716.99, representing a 53.14% increase compared to ¥92,139,270.83 in the same period last year[18]. - Net profit attributable to shareholders of the listed company was ¥25,113,437.58, up 68.13% from ¥14,937,154.23 year-on-year[18]. - The net cash flow from operating activities improved significantly, amounting to ¥1,146,188.02, a 110.09% increase compared to a negative cash flow of ¥11,362,969.73 in the previous year[18]. - Basic earnings per share increased to ¥0.12, a rise of 71.43% from ¥0.07 in the same period last year[19]. - The weighted average return on net assets rose to 2.43%, an increase of 0.91 percentage points compared to 1.52% in the previous year[19]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, which reached ¥21,022,461.76, up 139.25% from ¥8,786,743.92 in the same period last year[18]. - The total profit for the first half of 2019 was CNY 29,920,530.72, compared to CNY 17,696,703.55 in the same period of 2018, marking an increase of around 68.9%[93]. - The company's total comprehensive income for the first half of 2019 was CNY 25,523,620.87, compared to CNY 15,043,748.03 in the previous year, reflecting an increase of about 69.5%[95]. Assets and Liabilities - The company's total assets at the end of the reporting period were ¥1,141,707,216.04, a 1.04% increase from ¥1,129,947,580.41 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company increased to ¥1,015,732,968.87, reflecting a 1.33% growth from ¥1,002,414,411.38 at the end of the previous year[18]. - Cash and cash equivalents decreased by 32.41% to 182.35 million, down from 269.79 million in the previous period, attributed to increased financial investments[42]. - Accounts receivable increased by 7.28% to 195.76 million, compared to 182.48 million in the previous period[42]. - Inventory rose by 3.58% to 155.86 million, up from 150.47 million in the previous period[42]. - Total liabilities decreased from ¥57,399,151.57 at the end of 2018 to ¥60,245,182.57, an increase of approximately 4.9%[84]. - The total liabilities and equity at the end of the period were CNY 1,036,276,363.03, indicating a stable financial position[113]. Operational Efficiency - The company has intensified efforts in collecting accounts receivable, contributing to improved cash flow and profitability[19]. - The overall production efficiency has improved due to optimized operational processes, enhancing the company's ability to meet market demands[36]. - Operating costs rose to 83,375,065.13 RMB, an increase of 38.71% compared to the previous year, driven by higher product sales[39]. - The company achieved a revenue of 141,099,716.99 RMB in the first half of 2019, representing a year-on-year increase of 53.14%[37]. Research and Development - Research and development expenses increased by 38.50% to 5,943,955.04 RMB, reflecting the company's commitment to enhancing product innovation[39]. - The company has established high-level R&D platforms, including a recognized enterprise technology center and an engineering research center, to maintain its technological leadership in the industry[32]. - The company is focusing on the development of automated and intelligent oil and gas drilling equipment to meet increasing market demands[36]. Market Position and Strategy - The company maintained its leading position in traditional products while increasing efforts in developing innovative hydraulic products and automated wellhead equipment[24]. - The oil and gas drilling equipment industry is experiencing a recovery, with a projected increase in China's upstream drilling footage by 15% to 20% in 2019[27]. - The company has a strong customer base, including major oil companies like PetroChina and Sinopec, which provides stable sales channels for its products[33]. - The company adopts a direct sales model supplemented by a small number of buyout-style distributions, focusing on long-term contracts with major clients[24]. Shareholder and Governance - The company has committed to a share lock-up period of 36 months from the date of its IPO, which started on December 9, 2016, and will end on December 8, 2019[50]. - Shareholders are restricted from transferring or entrusting their shares during the lock-up period, ensuring stability in shareholding[50]. - The company has not reported any instances of non-compliance with the commitments made by its shareholders[50]. - The company’s management has committed to not transferring more than 25% of their shares annually while in office, and no transfers for six months post-termination[55]. Compliance and Regulations - The company strictly adheres to environmental regulations and has not faced any penalties for violations during the reporting period[66]. - The company has not made any changes to its accounting policies or estimates compared to the previous accounting period[68]. - The company reported no significant litigation or arbitration matters during the reporting period[63]. - There were no major related party transactions disclosed in the report[65]. Financial Instruments and Accounting Policies - The company adheres to the accounting standards for enterprises, ensuring that the financial statements accurately reflect its financial position and operating results[126]. - The company recognizes expected credit losses based on the risk of default, with the loss allowance reflecting the present value of cash shortfalls[144]. - The company measures financial liabilities at amortized cost using the effective interest method, with gains or losses recognized in profit or loss upon derecognition[141]. - The company applies a straight-line method to recognize rental expenses over the lease term, with initial direct costs recognized in the current profit and loss[187].

Financial Performance - Operating revenue for the period reached CNY 63,214,706.06, representing a growth of 51.29% year-on-year[6] - Net profit attributable to shareholders was CNY 5,865,071.96, an increase of 260.08% compared to the same period last year[6] - Basic earnings per share were CNY 0.03, up 50.00% from CNY 0.02 in the previous year[6] - The company's gross profit margin improved due to increased sales, leading to a significant rise in operating profit by 199.29% to RMB 7,429,860.93 from RMB 2,482,455.50[12] - Net profit for Q1 2019 was RMB 6,507,940.88, reflecting a 59.11% increase from RMB 4,090,317.94 year-on-year[12] - Total operating revenue for Q1 2019 was CNY 63,214,706.06, an increase of 51.2% compared to CNY 41,782,968.54 in Q1 2018[22] - The total profit for Q1 2019 reached ¥7,507,358.93, an increase of 43.3% compared to ¥5,233,532.42 in Q1 2018[29] Cash Flow - The net cash flow from operating activities was CNY -22,659,141.90, compared to CNY -14,432,217.92 in the same period last year[6] - The cash flow from operating activities showed a negative net amount of RMB -22,659,141.90, worsening by 57.00% compared to RMB -14,432,217.92 in the previous year[12] - The cash flow from operating activities for Q1 2019 was -¥22,659,141.90, worsening from -¥14,432,217.92 in Q1 2018[33] - The cash flow from investing activities in Q1 2019 was -¥38,661,977.23, compared to -¥341,304,347.65 in Q1 2018[34] - The net cash flow from investing activities was -38,888,185.42 RMB in Q1 2019, compared to -310,259,662.97 RMB in Q1 2018, showing a significant improvement[37] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,117,051,274.01, a decrease of 1.14% compared to the end of the previous year[6] - The company's total assets decreased to RMB 1,117,051,274.01 from RMB 1,129,947,580.41 at the end of 2018, a decline of 1.12%[17] - The total liabilities decreased to RMB 87,995,710.88 from RMB 107,399,958.16, a reduction of 18.00%[16] - The company's cash and cash equivalents decreased to RMB 206,033,882.82 from RMB 269,794,700.87, a decline of 23.52%[14] - The total liabilities decreased to CNY 87,166,269.13 in Q1 2019 from CNY 105,434,325.91 in Q4 2018, a reduction of 17.3%[20] - Total current liabilities were approximately $80.59 million, with accounts payable at $50.17 million and accrued employee compensation at $8.50 million[46] Shareholder Information - The total number of shareholders at the end of the reporting period was 21,540[10] - The top shareholder, Cao Caihong, held 30,069,752 shares, representing 14.79% of the total shares[10] - Shareholders' equity stood at approximately $1.00 billion, with retained earnings of $346.93 million[46] Research and Development - Research and development expenses increased by 75.80% to RMB 3,540,293.02 from RMB 2,013,870.97 in the previous year[12] - The company's R&D expenses in Q1 2019 were ¥3,540,293.02, which is a 75.6% increase from ¥2,013,870.97 in Q1 2018[28] Financial Reporting and Standards - The company reclassified financial assets according to the new financial instrument standards, moving 7,000,000.00 RMB from available-for-sale financial assets to other non-current financial assets[42] - The company did not apply retrospective adjustments for the new financial instruments and leasing standards[47] - The audit report for the current period was not applicable, indicating no significant issues were raised[47]

Financial Performance - The company's operating revenue for 2018 was CNY 240,610,810.59, representing a 22.27% increase compared to CNY 196,793,265.45 in 2017[21] - The net profit attributable to shareholders for 2018 was CNY 25,134,838.84, a 4.18% increase from CNY 24,125,374.90 in 2017[21] - The basic earnings per share for 2018 was CNY 0.19, up 5.56% from CNY 0.18 in 2017[23] - The total assets at the end of 2018 were CNY 1,129,947,580.41, reflecting a 5.27% increase from CNY 1,073,410,660.66 at the end of 2017[21] - The weighted average return on net assets for 2018 was 3.96%, an increase of 0.2 percentage points from 3.76% in 2017[23] - The company reported a total of CNY 13,943,587.07 in non-recurring gains for 2018, reflecting various income sources outside of regular operations[29] - The company achieved operating revenue of 240.61 million yuan, a year-on-year increase of 22.27%[46] - Net profit reached 38.50 million yuan, up 8.22% compared to the previous year[46] - Total operating revenue for 2018 was CNY 240,610,810.59, an increase of 22.2% from CNY 196,793,265.45 in the previous year[179] - Total operating costs amounted to CNY 212,037,126.48, up 25.1% from CNY 169,374,107.18 in the prior year[179] - Net profit for 2018 reached CNY 38,500,643.12, representing a 13.5% increase compared to CNY 35,577,896.68 in 2017[180] Cash Flow and Investments - The net cash flow from operating activities decreased by 45.22% to CNY 22,259,891.74 in 2018, down from CNY 40,637,642.63 in 2017[21] - The company reported a significant drop in net cash flow from operating activities, down 45.22% to 22.26 million yuan[48] - The company's cash and cash equivalents decreased by 52.81% to 269,794,700.87 RMB due to investments in financial products[63] - The net cash flow from operating activities for the year was ¥21,340,016.10, a decrease of 44% compared to ¥38,163,371.80 in the previous year[189] - Net cash flow from investing activities was -¥283,413,914.93, worsening from -¥915,254.52 in the previous year[190] - The ending balance of cash and cash equivalents decreased to ¥256,076,035.36 from ¥524,367,252.92 in the previous year[190] Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 0.58 per 10 shares, totaling CNY 11,794,880.00, pending shareholder approval[5] - In 2018, the company distributed cash dividends amounting to ¥11,794,880, representing a profit distribution ratio of 30.18%[79] - The cash dividend per 10 shares for 2018 was ¥0.58, compared to ¥0.54 in 2017[79] - The company has committed to a share lock-up period of 36 months for certain shareholders, which began on December 9, 2016, and will end on December 8, 2019[81] - The total number of ordinary shareholders reached 22,374 by the end of the reporting period, an increase from 21,540 at the end of the previous month[124] Operational Highlights - The company has focused on developing hydraulic products for wellhead automation, which is expected to support future growth[31] - The company maintains a direct sales model supplemented by a small number of buyout-style distributions, primarily engaging in bidding and negotiations with long-term clients[31] - The oil and gas drilling equipment industry in China is experiencing increased demand due to rising oil prices and heightened focus on energy security[33] - The company emphasizes quality control throughout its production process, ensuring stable product quality through stringent supplier evaluation and procurement procedures[33] - The company has established a detailed management system for outsourcing processes to enhance production capacity and service quality[32] Research and Development - The total R&D investment was 11,113,657.33 RMB, which is 4.62% of the operating revenue, with 96 R&D personnel making up 17.79% of the total workforce[59] - The company focused on the development of automated wellhead products, accelerating the R&D process of key products[44] - The company is focusing on customized R&D and specialized production to meet the diverse needs of its clients in the oil and gas sector[70] - The company will continue to invest in R&D for new products, particularly in automation and intelligent equipment, to meet the evolving demands of major domestic oil companies[73] Financial Management and Compliance - The audit report confirmed that the financial statements fairly reflect the company's financial position and operating results for the year ended December 31, 2018[160] - The internal control self-evaluation report was disclosed alongside the annual report, confirming no significant deficiencies in internal control[157] - The company has implemented key internal controls related to revenue recognition to mitigate risks associated with improper revenue recognition[163] - The company has established a fair and transparent performance evaluation standard and incentive mechanism for senior management, implementing a performance assessment method[156] Market and Industry Outlook - In 2019, China's upstream drilling footage is expected to grow by 15% to 20%[34] - The average annual new drilling quantity in China is projected to remain around 20,000 wells over the next 3 to 5 years[34] - The company recognizes the risk of oil price fluctuations impacting demand for its products, which are primarily used in oil and gas exploration[75] - The company is addressing the challenge of alternative energy sources and their potential impact on the fossil fuel market[75] Shareholder Structure and Governance - There are no controlling shareholders or actual controllers due to the dispersed shareholding structure, with no single shareholder able to control the board or shareholder meetings[131][132] - The largest shareholder, Cao Caihong, holds 30,069,752 shares, representing 14.79% of the total shares[126] - The company has a total of 30,069,752 restricted shares held by Cao Caihong, which will become tradable on December 9, 2019[128] - The company does not have any preferred shareholders with voting rights[128] Employee and Management Information - The number of employees in the parent company is 523, while the total number of employees in the parent company and major subsidiaries is 624[145] - The company has established a performance-based salary system for administrative personnel, with 8 positions and 25 levels[146] - The total remuneration for all directors, supervisors, and senior management amounted to 2.7196 million yuan[142]

2018 年第三季度报告 公司代码：603036 公司简称：如通股份 江苏如通石油机械股份有限公司 2018 年第三季度报告 1 / 20 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 7 | | 四、 | 附录 | 8 | 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人曹彩红、主管会计工作负责人镇国毅及会计机构负责人（会计主管人员）镇国毅 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 20 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度末增 减(%) 总资产 1,088,074,035.41 1,073,410,660.66 1.37 归属于上市公司 股东的净资产 ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥92,139,270.83, a decrease of 3.36% compared to ¥95,342,469.59 in the same period last year[16]. - The net profit attributable to shareholders of the listed company was ¥14,937,154.23, representing an increase of 1.78% from ¥14,675,946.63 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥8,786,743.92, down 35.37% from ¥13,595,321.89 in the same period last year[16]. - The net cash flow from operating activities was -¥11,362,969.73, a significant decrease compared to ¥16,732,237.09 in the previous year, reflecting a decline of 167.91%[16]. - The total assets at the end of the reporting period were ¥1,078,246,637.18, an increase of 0.45% from ¥1,073,410,660.66 at the end of the previous year[16]. - The net profit totaled 1,504.37 CNY, reflecting a slight decline of 0.28% year-on-year[36]. - The company reported a significant decrease in cash flow from operating activities, with a net cash flow of -11,362,969.73 CNY, down 167.91% from the previous year[38]. - The company reported a total of 10 major shareholders with limited sale conditions, with the largest shareholder holding 30,069,752 shares[68]. Assets and Liabilities - The total current liabilities decreased by 7.52% to CNY 53,268,938.92 from CNY 57,598,857.90[40]. - Total inventory increased by 10.11% to CNY 147,942,406.39 compared to CNY 134,355,030.65 in the previous period[40]. - Accounts payable rose by 3.69% to CNY 34,974,011.46 from CNY 33,730,390.08[40]. - The company's fixed assets decreased by 1.79% to CNY 126,357,968.39 from CNY 128,656,696.78[40]. - The total equity at the end of the reporting period is CNY 931,221,444.62, showing a decrease of CNY 2,770,465.30 compared to the previous period[104]. Research and Development - The company has established high-standard R&D platforms, recognized as a high-tech enterprise, and has participated in setting national industry standards for drilling and workover equipment[26]. - The company is focusing on the development of mechanized and integrated electrical-hydraulic equipment to meet the increasing demands of complex geological conditions and deep well exploration[24]. - Research and development expenses amounted to 4,291,810.60 CNY, a decrease of 22.76% compared to the previous year[38]. - The company is enhancing its R&D capabilities to meet the increasing demand for specialized and diversified oil drilling equipment[45]. Market and Competition - The company primarily engages in the production and sales of oil drilling and production equipment, serving major domestic oil companies and international markets including the Middle East, Africa, North America, and Russia[22]. - The company faces risks from cyclical fluctuations in the oil and gas industry, which could adversely affect product demand[44]. - The company is exposed to risks from competition with renewable energy sources, which could significantly impact the demand for fossil fuels[44]. - The industry is expected to transition towards semi-mechanized and fully mechanized equipment, with a growing market share for integrated electrical-hydraulic products[24]. Shareholder and Governance - The company has committed to a 36-month lock-up period for major shareholders, during which they will not transfer or entrust their shares to others[50]. - Major shareholders have committed to not transferring their shares for 6 months after leaving their positions[52]. - The company has ensured that all commitments made by shareholders have been strictly adhered to during the reporting period[50]. - The company will stabilize its stock price by repurchasing shares if the stock price falls below the audited net asset value per share for 20 consecutive trading days[54]. Compliance and Regulations - The company has maintained compliance with all regulatory commitments throughout the reporting period[50]. - There have been no instances of false records or misleading statements in the prospectus or offering documents[54]. - The company confirmed compliance with legal requirements regarding share repurchase and stabilization plans[56]. Cash Flow and Investments - The total cash inflow from financing activities was 6,147,653.22 RMB, with cash outflow of 35,957,174.97 RMB, leading to a net cash flow of -3,973,521.75 RMB[89]. - The total cash flow from investment activities was -246,452,671.16 RMB, significantly higher than -4,435,185.03 RMB in the previous period[92]. - The company has purchased financial products amounting to CNY 268,000,000.00 during the period[197]. Inventory Management - The total balance of inventory at the end of the period is CNY 149,651,574.35, an increase from CNY 135,887,179.54 at the beginning of the period, representing a growth of approximately 10.3%[192]. - The total provision for inventory decline at the end of the period is CNY 1,709,167.96, up from CNY 1,532,148.89 at the beginning of the period, indicating an increase of approximately 11.5%[194]. Financial Reporting and Accounting - The company adheres to the enterprise accounting standards, ensuring the financial statements reflect a true and complete picture of its financial status[110]. - The company’s accounting currency is Renminbi (CNY)[113]. - The company uses the effective interest method for subsequent measurement of financial liabilities, except for those measured at fair value[122].

Financial Performance - Operating revenue for the period was ¥41,782,968.54, reflecting a decrease of 2.15% year-on-year[6] - Net profit attributable to shareholders was ¥1,628,810.91, down 69.22% from the previous year[6] - Basic earnings per share decreased by 33.33% to ¥0.02 from ¥0.03 in the previous year[6] - Operating profit decreased by 62.56% from CNY 6,630,251.86 to CNY 2,482,455.50 primarily due to increased exchange losses[12] - Net profit decreased by 29.82% from CNY 5,827,944.97 to CNY 4,090,317.94 attributed to the decline in operating profit[12] - Total profit decreased by 35.09% from CNY 7,271,806.16 to CNY 4,719,785.50 due to the decrease in operating profit[12] - The company's net profit for the period was not explicitly stated, but the increase in costs suggests potential pressure on profitability[20] - The net profit for Q1 2018 was CNY 4,604,064.86, down 33.2% from CNY 6,903,626.53 in the same period last year[24] - The operating profit decreased to CNY 3,002,032.42, a decline of 60.1% from CNY 7,677,123.77 in the previous year[23] - The total comprehensive income for Q1 2018 was CNY 4,604,064.86, down from CNY 6,903,626.53 in the previous year[24] Cash Flow - Cash flow from operating activities showed a net outflow of ¥14,432,217.92, a significant decline of 1,604.30% compared to the same period last year[6] - Cash flow from operating activities showed a net outflow of CNY 14,432,217.92 compared to a net inflow of CNY 959,394.05 in the previous period, primarily due to increased cash payments for raw materials[12] - The company reported a net cash outflow from operating activities of CNY -14,432,217.92, compared to a positive cash flow of CNY 959,394.05 in the previous year[25] - Total cash inflow from operating activities was 42,460,849.82 RMB, down from 46,422,142.25 RMB year-over-year, reflecting a decline of approximately 6.3%[28] - Cash outflow from operating activities increased to 55,866,114.63 RMB, compared to 43,764,948.01 RMB in the previous year, marking an increase of about 27.7%[28] - The net cash flow from investing activities was -310,259,662.97 RMB, a substantial increase from -2,140,835.00 RMB in the prior year, indicating a significant rise in investment expenditures[29] - The company had a total cash outflow from investment activities of CNY 341,304,347.65, compared to CNY 2,755,165.00 in the previous year[25] - The net cash flow from financing activities was -5,300,000.00 RMB, reflecting cash outflows related to financing activities[29] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,076,777,705.52, a 0.31% increase compared to the end of the previous year[6] - Cash and cash equivalents decreased by 62.07% from CNY 571,721,172.76 to CNY 216,829,785.91 due to the purchase of bank wealth management products[11] - Accounts receivable increased by 38.80% from CNY 23,390,706.85 to CNY 32,466,045.85 due to the increase in acceptance bill recoveries[11] - Prepayments increased by 118.09% from CNY 3,420,293.13 to CNY 7,459,364.93 due to increased advance payments to suppliers[11] - Other receivables decreased by 65.16% from CNY 2,455,970.22 to CNY 855,638.68 due to intensified collection efforts[11] - Total liabilities decreased to CNY 79,574,528.45 from CNY 84,529,990.53, showing a reduction in financial obligations[19] - Shareholders' equity increased to CNY 997,203,177.07 from CNY 988,880,670.13, reflecting a stable capital position[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 26,047[9] - The largest shareholder, Cao Caihong, holds 14.79% of the shares, totaling 30,069,752 shares[9] Other Financial Metrics - Non-recurring gains and losses amounted to ¥2,499,650.04 after tax adjustments[10] - The weighted average return on equity fell by 0.19 percentage points to 0.42%[6] - The company reported a significant increase in management expenses to CNY 4,175,892.20 from CNY 6,526,618.31 in the previous year[23] - The company incurred financial expenses of CNY 3,291,063.08, a significant increase compared to a financial income of CNY -1,597,238.61 in the previous year, indicating rising borrowing costs[20] - Deferred income decreased slightly to CNY 26,409,099.57 from CNY 26,931,132.63, suggesting stable revenue recognition practices[19] - The impact of exchange rate changes on cash and cash equivalents was -3,387,010.28 RMB, compared to -264,355.54 RMB in the same period last year[29] - The total cash and cash equivalents decreased by 327,051,938.06 RMB during the quarter, compared to a decrease of 5,047,996.30 RMB in the previous year[29]