Group 1: Survey Overview - The investor survey was conducted from October 27 to October 29, 2022, via Tencent video and phone meetings [2] - Participating institutions included various financial and investment firms, such as Guojin Transportation, Huaxi Transportation, and CICC [2] Group 2: Company Performance - The company's third-quarter performance remained stable, with a gross profit margin increasing by 2.2% quarter-on-quarter [3] - Self-operated revenue remained stable, while external charter income decreased, primarily due to fluctuations in the oil market [3] - The company added one 8,000-ton chemical tanker in Q3, maintaining a fleet of 18 vessels and increasing deadweight tonnage to 200,300 tons, a net increase of 1,500 tons from Q2 [3] Group 3: Revenue and Profitability - The gross profit margin for self-owned capacity remained above 50%, slightly declining due to rising fuel costs and crew salaries [5] - In H1 2022, external charter income accounted for approximately 20% of total revenue, dropping to 12% in Q3 due to market volatility [6] Group 4: Market Outlook - The company anticipates a continued increase in domestic shipping demand over the next 1-2 years due to new refining capacities coming online [7] - The company plans to enhance its market share by applying for additional capacity and seeking acquisition opportunities in the existing market [7] Group 5: Fleet Expansion Plans - The company is focused on expanding its fleet, with plans to increase the number of vessels to 22 by year-end, resulting in a total capacity of 286,800 tons, a 53.12% increase from the beginning of the year [3] - The company has three additional foreign trade chemical tankers under construction, expected to be operational in H2 2023 [8] Group 6: Risk Management - The company emphasizes that all information should be verified through official announcements on the Shanghai Stock Exchange website, and investors should be aware of potential risks [14]

Financial Performance - The company's operating revenue for Q3 2022 was CNY 180,082,458.90, representing a year-on-year increase of 29.62%[7] - The net profit attributable to shareholders for the same period was CNY 53,904,962.05, reflecting a growth of 15.67% compared to the previous year[7] - The net profit after deducting non-recurring gains and losses was CNY 50,086,158.78, which is an increase of 12.35% year-on-year[7] - Operating revenue for Q3 2022 was 33.23 million, driven by increased income from owned and leased vessels[13] - The total profit for Q3 2022 was CNY 210,289,254.48, an increase from CNY 201,380,791.64 in Q3 2021, representing a growth of approximately 4.52%[25] - The net profit for Q3 2022 reached CNY 156,846,933.95, compared to CNY 150,436,180.80 in the same period last year, marking an increase of about 4.3%[26] - The basic and diluted earnings per share for Q3 2022 were both CNY 0.86, down from CNY 1.00 in Q3 2021, indicating a decrease of 14%[26] Assets and Liabilities - Total assets at the end of the reporting period reached CNY 2,606,359,187.89, a significant increase of 107.31% compared to the end of the previous year[8] - The equity attributable to shareholders increased by 128.32% year-on-year, amounting to CNY 1,987,694,481.57[8] - Current assets as of September 30, 2022, totaled ¥1,318,748,072.97, significantly higher than ¥324,211,760.95 at the end of 2021, marking an increase of about 307.5%[19] - Total liabilities amounted to ¥618,664,706.32 as of September 30, 2022, up from ¥386,648,447.98 at the end of 2021, indicating an increase of about 60.0%[20] - Total assets reached ¥2,606,359,187.89 as of September 30, 2022, compared to ¥1,257,229,295.60 at the end of 2021, representing an increase of approximately 107.0%[20] - Shareholders' equity as of September 30, 2022, was ¥1,987,694,481.57, compared to ¥870,580,847.62 at the end of 2021, reflecting an increase of approximately 128.5%[20] Cash Flow - Cash flow from operating activities for the year-to-date period was CNY 177,248,729.65, which decreased by 13.92% year-on-year[7] - Cash flow from operating activities for the first nine months of 2022 was CNY 177,248,729.65, a decrease from CNY 205,914,414.01 in the same period of 2021[29] - Cash inflow from investment activities in the first nine months of 2022 was CNY 3,044,033,114.36, significantly higher than CNY 1,529,099,531.87 in the previous year[29] - The net cash flow from financing activities for the first nine months of 2022 was CNY 1,171,922,724.70, compared to a negative cash flow of CNY 65,016,645.01 in the same period of 2021[29] - The cash and cash equivalents at the end of Q3 2022 amounted to CNY 989,681,805.10, a significant increase from CNY 180,252,583.73 at the end of Q3 2021[29] Shareholder Information - The company had a total of 8,956 common shareholders at the end of the reporting period[15] - The top shareholder, Chen Xingming, held 56,525,000 shares, representing 28.26% of total shares[15] Operational Costs and Expenses - Total operating costs for the first three quarters of 2022 were ¥357,497,057.80, up from ¥233,502,304.90 in 2021, indicating an increase of about 53.1%[24] - Cash paid for purchasing goods and services was 151.46 million, reflecting increased operational costs due to business expansion[13] - Research and development expenses for the first three quarters of 2022 were ¥1,195,311.21, slightly up from ¥1,154,904.34 in 2021, indicating a focus on innovation[24] Investment and Income - Investment income rose to 478.92 million, primarily due to increased returns from financial products purchased during the reporting period[13] - The company reported a net investment income of ¥8,213,342.47 for the first three quarters of 2022, compared to ¥1,418,741.19 in 2021, showing a significant increase[24] - The company reported non-recurring gains of CNY 3,818,803.27 for the current period, down from CNY 7,970,798.42 in the previous year[11] - Cash received from investment redemptions increased to 98.69 million, indicating higher amounts redeemed from financial products and structured deposits[13] Accounts Receivable and Payable - Accounts receivable rose by 149.62%, mainly attributed to the increase in operating revenue during the reporting period[12] - Total liabilities included accounts payable of 47.93 million, reflecting increased project progress payments and material procurement[13]

Financial Performance - Basic earnings per share for the first half of 2022 were CNY 0.59, a decrease of 14.49% compared to CNY 0.69 in the same period last year[19]. - Diluted earnings per share for the first half of 2022 were also CNY 0.59, reflecting the same percentage decrease of 14.49%[19]. - The weighted average return on net assets decreased by 7.09 percentage points to 7.26% from 14.35% in the previous year[19]. - The weighted average return on net assets, after deducting non-recurring gains and losses, decreased by 5.92 percentage points to 6.97% from 12.89% in the previous year[19]. - Basic earnings per share after deducting non-recurring gains and losses were CNY 0.56, down 9.68% from CNY 0.62 in the same period last year[19]. - The company's operating revenue for the first half of the year reached ¥379,727,361.23, representing a 35.02% increase compared to ¥281,239,061.59 in the same period last year[20]. - The net profit attributable to shareholders was ¥102,941,971.90, a slight decrease of 0.86% from ¥103,833,969.23 year-on-year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 5.93% to ¥98,789,976.75 from ¥93,263,965.13[20]. - The net cash flow from operating activities decreased by 11.31% to ¥124,373,148.62 compared to ¥140,235,599.59 in the previous year[20]. Assets and Liabilities - The total assets at the end of the reporting period were ¥2,421,633,827.60, a 92.62% increase from ¥1,257,229,295.60 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 122.13% to ¥1,933,789,519.52 from ¥870,580,847.62 at the end of the previous year[20]. - Total current liabilities were reported at CNY 247,921,277.67, compared to CNY 154,611,929.53 at the beginning of the year, reflecting an increase of approximately 60.4%[128]. - The company's total liabilities were CNY 487,844,308.08, compared to CNY 386,648,447.98 at the beginning of the year, indicating an increase of approximately 26.1%[128]. Fleet and Operations - The company added one 5,490-ton chemical tanker and two 3,700-cubic-meter LPG vessels, bringing the total fleet to 18 vessels with a total capacity of 198,800 tons[25]. - The external chartering service generated revenue of ¥76,868,759.75, a significant increase of 187.18% year-on-year, providing 140 voyages[30]. - The company's self-transport volume of liquid chemicals reached 2,415,900 tons in the reporting period, representing a year-on-year growth of 13.7%, and accounting for about 10.4% of the market's total transportation volume[32]. - The company plans to expand its fleet with the addition of two new stainless steel chemical tankers, increasing its overall capacity and further solidifying its industry-leading position[31]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and development strategies due to inherent uncertainties[5]. - The report includes a section on potential risks that investors should pay attention to, particularly in the management discussion and analysis section[6]. - The company is currently facing risks related to industry regulation, operational safety, and environmental protection, which could impact future performance[58][59]. Corporate Governance - The company did not conduct any profit distribution or capital reserve transfer to increase share capital during the reporting period[4]. - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[6]. - The report indicates that the financial report has not been audited, ensuring transparency in the financial disclosures[7]. - The company has established long-term stable partnerships with major clients, including state-owned enterprises like Sinopec and PetroChina, ensuring a steady demand for its services[37]. Environmental and Social Responsibility - The company adheres to strict environmental management practices and has not faced any administrative penalties for environmental issues[70]. - The company has implemented measures to reduce carbon emissions, including optimizing navigation routes and using energy-efficient lighting on vessels[73]. - The company actively participates in social responsibility initiatives, including supporting local farmers during the pandemic by purchasing unsold agricultural products[75]. Shareholder Commitments - The company’s controlling shareholders committed to not transferring or entrusting the management of their shares for 36 months post-IPO[78]. - Shareholders holding more than 5% of shares pledged not to transfer or manage their shares for 12 months following the company's IPO[79]. - The company will extend the lock-up period by an additional 6 months if the stock price falls below the issue price during the first 6 months post-IPO[78]. - The company reported that any violations of the commitments will result in the forfeiture of profits to the company and potential legal consequences[81]. Financial Instruments and Accounting - Financial instruments are defined as contracts that create financial assets for one party and financial liabilities or equity instruments for another[183]. - The company classifies financial assets based on the business model and cash flow characteristics, including amortized cost, fair value through profit or loss, and fair value through other comprehensive income[186]. - Financial liabilities are primarily measured at amortized cost using the effective interest method after initial recognition[189]. - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired in a business combination[175].

Financial Performance - The company's operating revenue for Q1 2022 was ¥178,823,879.19, representing a year-on-year increase of 31.22%[5] - The net profit attributable to shareholders was ¥48,952,214.19, reflecting a growth of 7.15% compared to the same period last year[5] - The operating profit for Q1 2022 was ¥68,715,531.57, up by 10.5% from ¥62,170,629.74 in Q1 2021[21] - The net profit for Q1 2022 reached ¥48,952,214.19, representing a growth of 7.5% from ¥45,684,371.59 in Q1 2021[21] - Basic and diluted earnings per share were both ¥0.33, with a return on equity of 5.47%, down by 1.11 percentage points from the previous year[6] - Basic and diluted earnings per share for Q1 2022 were both ¥0.33, compared to ¥0.30 in Q1 2021, reflecting a 10% increase[22] Cash Flow and Investments - The net cash flow from operating activities reached ¥37,248,974.75, showing a significant increase of 45.31% year-on-year[5] - The cash flow from operating activities in Q1 2022 was ¥37,248,974.75, an increase of 45.5% compared to ¥25,634,805.76 in Q1 2021[23] - The company reported a total investment cash outflow of ¥663,905,946.73 in Q1 2022, compared to ¥709,666,064.49 in Q1 2021[23] - The company raised ¥1,007,566,400.00 from investment activities in Q1 2022, compared to ¥15,000,000.00 in Q1 2021[24] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥2,365,867,021.60, an increase of 88.18% from the end of the previous year[6] - Current assets increased to CNY 1,335,068,050.92 from CNY 324,211,760.95 year-over-year[16] - Total liabilities as of March 31, 2022, were CNY 456,067,259.79, compared to CNY 386,648,447.98 at the end of 2021[18] - The company's equity increased to CNY 1,909,799,761.81 from CNY 870,580,847.62 year-over-year[18] - Fixed assets amounted to CNY 913,157,370.61, up from CNY 735,356,725.86[17] Shareholder Information - Total number of common shareholders at the end of the reporting period was 44,540[14] - The largest shareholder, Chen Xingming, holds 56,525,000 shares, representing 28.26% of total shares[14] Other Financial Metrics - Cash and cash equivalents increased by 401.73%, primarily due to funds raised from the initial public offering and business growth[10] - Cash and cash equivalents reached CNY 1,196,001,165.54, up from CNY 238,377,667.06[16] - The company reported a significant increase in accounts receivable, rising to CNY 60,155,745.42 from CNY 32,002,886.66[16] - Accounts receivable rose by 87.97%, driven by increased operating revenue during the reporting period[10] - The company reported a 66.28% increase in operating costs, attributed to the expansion of business scale[11] - The company received government subsidies that contributed to a 1,175.76% increase in other income during the quarter[11] - The company experienced a decrease in credit impairment losses, reporting -¥1,805,765.67 in Q1 2022 compared to -¥2,817,887.72 in Q1 2021[21] - Financial expenses for Q1 2022 were ¥3,273,811.81, slightly down from ¥3,437,756.04 in Q1 2021[20]