Financial Performance - The net profit attributable to the parent company's shareholders for 2022 was RMB 503,328,309.78[6] - The company's operating revenue for 2022 was CNY 3,065,155,628.41, representing a 73.98% increase compared to CNY 1,761,769,643.53 in 2021[23] - Net profit attributable to shareholders for 2022 reached CNY 503,328,309.78, a significant increase of 580.35% from CNY 73,980,969.16 in 2021[23] - Basic earnings per share for 2022 was CNY 1.26, reflecting a 600.00% increase compared to CNY 0.18 in 2021[25] - The company's total assets as of the end of 2022 amounted to CNY 7,154,512,927.63, a 21.41% increase from CNY 5,893,026,514.09 in 2021[24] - Cash flow from operating activities for 2022 was CNY 599,552,013.77, up 16.50% from CNY 514,656,478.16 in 2021[24] - The weighted average return on equity for 2022 was 22.94%, an increase of 19.15 percentage points from 3.79% in 2021[25] - The company reported a net profit of CNY 131,785,240.46 in Q4 2022, with total revenue for the quarter at CNY 849,047,111.18[28] Dividends and Profit Distribution - As of December 31, 2022, the cumulative distributable profit for the parent company was RMB 429,097,002.66[6] - The proposed cash dividend is RMB 2.50 per 10 shares (including tax), totaling RMB 99,976,550.00 based on 399,906,200 shares[6] - The total cash dividend amount for the 2022 fiscal year reached RMB 259,420,523.38, which represents 51.54% of the net profit attributable to ordinary shareholders in the consolidated financial statements[166] - The company approved a cash dividend of 0.1 yuan per share, totaling 40,000,010 yuan, based on a total share capital of 40,000.01 million shares for the 2021 profit distribution[160] - For the 2022 annual profit distribution, the company plans to distribute RMB 2.50 per 10 shares (including tax), amounting to a total of RMB 99,976,550.00 (including tax) based on 399,906,200 shares[162] Operational Highlights - The company's crude oil production for the year was 434,038 tons, exceeding the annual production target by 112.7%[39] - The total order amount for engineering projects and equipment reached 2.885 billion RMB, an increase of 5.05 billion RMB or 21.22% year-on-year[36] - The company signed contracts worth 2.687 billion RMB in the drilling engineering sector, with new contracts from major international oil companies increasing by 18.10% year-on-year[40] - The company completed 338 wells in the drilling sector, an increase of 74 wells compared to the previous year[40] - The average daily crude oil production reached 1,433 tons by December 31, 2022, with a total cumulative production of 655,729 tons in the Xinjiang Wensu block[39] Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22] - The company has actively expanded its exploration and development business, participating in multiple oil and gas projects along the "Belt and Road" initiative[51] - The company is committed to advancing its new energy business while maintaining its core oil and gas operations, aiming for a sustainable and low-carbon transition[48] - The company aims to increase oil and gas production capacity, targeting a stable growth in output while focusing on resource value enhancement and collaboration with domestic and international oil companies[108] - The company is actively exploring new energy projects and promoting the integration of oil field development with renewable energy initiatives[112] Research and Development - The company’s research and development expenses increased by 92.46% to CNY 116,535,799.99, reflecting its commitment to enhancing exploration and development capabilities[62] - The total R&D investment for the period was CNY 141,807,799.99, accounting for 4.63% of operating revenue[1] - The company employed 108 R&D personnel, representing 4% of the total workforce[2] - The capitalized R&D investment accounted for 17.82% of total R&D expenditures[1] Environmental and Social Responsibility - The company invested 24.54 million CNY in environmental protection during the reporting period[177] - The company completed a total of 74 projects in 2022, including 68 exploration well projects, all of which received environmental impact assessment approvals from the Aksu Regional Environmental Ecology Bureau[185] - The company donated a total of 170,000 RMB worth of living supplies to 7 communities in Wensu County, benefiting 2,000 people[191] - The company established a poverty alleviation team to carry out multiple poverty alleviation projects in Wensu County, with a total investment of 170,000 RMB[192] - The company plans to enhance its support for Wensu County by focusing on "industrial assistance, educational assistance, employment assistance, and livelihood assistance" to ensure high-quality completion of all assistance goals[194] Risk Management - The oil industry is subject to cyclical risks, influenced by macroeconomic fluctuations, oil demand, prices, and extraction difficulties, with ongoing volatility in international oil prices posing a risk to future business expansion and profitability[120] - The company faces operational risks in exploration and development, which could lead to accidents affecting production and financial performance[121] - Financial risks include exchange rate fluctuations due to overseas projects using local currencies, which can be significantly impacted by regional political and economic conditions[123] - The company is exposed to oil price volatility risks, which can adversely affect performance and cash flow if prices remain low over the long term[124] - Intense market competition in the oil industry presents challenges, with major players dominating the market and creating uncertainty for the company's development[125] Corporate Governance - The company held 5 shareholder meetings during the reporting period to ensure equal rights for all shareholders, especially minority shareholders[130] - The board of directors consists of 7 members, including 3 independent directors, and operates in compliance with relevant laws and regulations[130] - The supervisory board has 3 members, including 2 employee representatives, and effectively supervises the actions of the board and management[130] - The company has strengthened its information disclosure practices, ensuring transparency and compliance with legal requirements[131] - The company has committed to enhancing its internal control systems to protect shareholder interests and ensure compliance with regulations[131] Employee Relations and Compensation - The total number of employees at the parent company and major subsidiaries is 2,442, with 1,640 in production roles and 260 in technical roles[156] - The total pre-tax remuneration for the Chairman and General Manager, Li Chundi, was CNY 1.44 million[138] - The total pre-tax remuneration for the Vice Chairman, Zhu Fengxue, was CNY 1.229 million[138] - The remuneration for non-independent directors, supervisors, and senior management is based on company performance, job responsibilities, work performance, and market conditions[143] - The company is implementing an employee stock ownership plan to align employee interests with shareholder value, enhancing retention and motivation[146]

Financial Performance - The company's operating revenue for Q3 2022 was approximately CNY 820.46 million, representing a year-on-year increase of 102.93% compared to CNY 404.30 million in the same period last year[7]. - The net profit attributable to shareholders for the first three quarters of 2022 reached approximately CNY 2.22 billion, a significant increase of 742.79% compared to CNY 371.54 million in the same period last year[7][18]. - The basic earnings per share for Q3 2022 was CNY 0.40, up 700% from CNY 0.05 in the same period last year[9]. - The weighted average return on equity increased by 5.96 percentage points to 6.95% for Q3 2022, compared to 1.03% in the same period last year[9]. - The net profit after deducting non-recurring gains and losses for the first three quarters of 2022 was approximately CNY 371.54 million, reflecting an increase of 810.67% compared to CNY 36.05 million in the same period last year[7][18]. - Net profit for the third quarter of 2022 was ¥371,354,076.98, a substantial rise from ¥43,438,506.07 in the same quarter of 2021, reflecting an increase of approximately 754%[37]. - The company’s total comprehensive income for the third quarter of 2022 was ¥371,543,069.32, compared to ¥40,135,341.50 in the same quarter of 2021, indicating a substantial increase[39]. Cash Flow and Liquidity - The net cash flow from operating activities for the first three quarters of 2022 was approximately CNY 575.00 million, an increase of 131.42% compared to CNY 248.47 million in the same period last year[7][18]. - The net cash flow from operating activities for the third quarter of 2022 was approximately ¥575 million, compared to ¥248 million in the same quarter of 2021, marking an increase of approximately 131.5%[43]. - The total cash outflow from operating activities in the third quarter of 2022 was approximately ¥1.92 billion, up from ¥1.03 billion in the same quarter of 2021, indicating an increase of about 86.1%[43]. - The cash inflow from financing activities in the third quarter of 2022 was approximately ¥1.99 billion, slightly down from ¥2.13 billion in the same quarter of 2021, a decrease of about 6.5%[43]. - The net cash flow from financing activities for the third quarter of 2022 was approximately ¥290 million, compared to a negative cash flow of ¥62 million in the same quarter of 2021, indicating a turnaround in financing activities[43]. - The total cash and cash equivalents at the end of the third quarter of 2022 amounted to approximately ¥509 million, an increase from ¥84 million at the end of the same quarter in 2021[46]. Assets and Liabilities - Total assets at the end of Q3 2022 were approximately CNY 6.98 billion, representing an increase of 18.51% compared to CNY 5.87 billion at the end of the previous year[9]. - The total liabilities increased to ¥4,806,809,379.80 in 2022 from ¥3,903,646,746.86 in 2021, marking an increase of about 23.1%[30]. - Current liabilities totaled approximately $2.85 billion, with short-term borrowings at $957.43 million and accounts payable at $792.31 million[52]. - Total non-current assets amounted to approximately $4.05 billion, with fixed assets contributing $1.96 billion and oil and gas assets at $1.24 billion[50]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 25,367, with the top ten shareholders holding 27.59% of the shares[19]. - Shanghai Zhongman Investment Holding Co., Ltd. holds 110,369,800 shares, representing 27.59% of the total shares[22]. - Zhu Fengxue and Li Yuchi are the common actual controllers of the company, holding 11.29% and 6.98% of the shares respectively[22]. - The company’s total equity attributable to shareholders was approximately $1.99 billion, with minority interests at -$1.49 million[52]. Research and Development - Research and development expenses for the first three quarters of 2022 were ¥69,004,719.37, compared to ¥37,476,248.25 in 2021, indicating an increase of about 84.5%[33].

Financial Performance - In the first half of 2022, the company achieved a net profit attributable to shareholders of 212,420,642.19 CNY[6]. - The company's operating revenue for the first half of 2022 reached ¥1,395,652,670.33, representing an increase of 85.72% compared to the same period last year[24]. - The net profit attributable to shareholders was ¥212,420,642.19, a significant increase of 778.01% year-on-year[24]. - The net cash flow from operating activities was ¥559,731,091.95, reflecting a growth of 154.03% compared to the previous year[24]. - The basic earnings per share for the first half of 2022 was ¥0.53, an increase of 783.33% compared to the same period last year[26]. - The company's net profit after deducting non-recurring gains and losses of ¥210,881,487.82, which is an increase of 879.56% year-on-year[24]. - The total comprehensive income for the first half of 2022 was ¥212,389,775.57, compared to ¥15,859,042.74 in the previous year, an increase of 1,336.5%[175]. - The company reported a total cash and cash equivalents balance of CNY 131,805,762.25 at the end of the period, up from CNY 37,496,286.03 at the beginning of the year[193]. Dividend Distribution - The company plans to distribute a cash dividend of 1.00 CNY per 10 shares (including tax) to all shareholders[6]. - As of June 30, 2022, the cumulative distributable profit for the parent company was 330,725,396.08 CNY[6]. - The company achieved a net profit attributable to shareholders of the parent company of CNY 212,420,642.19 for the first half of 2022[91]. Risks and Challenges - The report outlines potential risks faced by the company, which are detailed in the management discussion section[8]. - The oil industry is characterized by cyclical risks, heavily influenced by macroeconomic fluctuations and oil prices[80]. - Financial risks include exchange rate fluctuations due to overseas projects being settled in local currencies[83]. - The company's drilling operations are primarily conducted in the Middle East, where geopolitical instability poses risks to business operations[84]. - The company acknowledges the potential for operational disruptions due to accidents in exploration and oilfield services[81]. Operational Efficiency and Growth - The company has formed an integrated core competitiveness from exploration to production, leveraging its resource, technology, and cost advantages[35]. - The company is focusing on unconventional oil and gas resource development to boost domestic reserves and production[35]. - The company is actively pursuing mergers and acquisitions to control risks and optimize its upstream exploration and development layout[39]. - The company has implemented an integrated operation model that significantly reduces oil and gas extraction costs through collaboration among its business modules[51]. - The average daily production in the second quarter of 2022 was 1,250.4 tons, reflecting the company's focus on efficiency and production optimization[49]. Environmental and Social Responsibility - The company aims for zero discharge of wastewater, with treated drilling wastewater being reused for oil platform operations[102]. - Environmental protection measures include using electric power instead of diesel engines for drilling operations to reduce CO2 emissions[103]. - The company has actively engaged in poverty alleviation and rural revitalization efforts, including donations for community service facilities and agricultural infrastructure in Xinjiang, ensuring the sustainability of poverty alleviation outcomes[109]. - The company plans to enhance its support in Xinjiang through industry, education, employment, and livelihood assistance, integrating social responsibility into its business strategy[110]. Corporate Governance and Compliance - The report does not indicate any violations of decision-making procedures for external guarantees[8]. - The company has not faced any issues with a majority of directors being unable to ensure the accuracy and completeness of the report[8]. - The company's board of directors and management have confirmed the authenticity and completeness of the report[4]. - The company's stock option incentive plan was approved by independent directors, ensuring compliance with governance standards[96]. Investment and Acquisitions - The company plans to acquire 87% of the equity in Toghi Trading F.Z.C to enhance its long-term exploration and development strategy[69]. - The company is focused on increasing its oil and gas resource reserves through strategic acquisitions, which will enhance its integrated business advantages[70]. - The company plans to acquire 87.5% equity in a Kazakhstan offshore block for USD 16.5 million, with subsequent adjustments based on professional evaluations[128]. Research and Development - Research and development expenses rose by 71.67% to ¥38,815,702.27, reflecting increased investment across various business segments[55]. - The company has a total of 354 patents, including invention patents and utility model patents, enhancing its technological advantage in the drilling industry[45]. - The company is actively developing new drilling equipment, including intelligent drilling rigs and automated drilling rigs, to improve drilling efficiency and reduce costs[50].

Financial Performance - The company's operating revenue for Q1 2022 was ¥603,285,892.87, representing an increase of 83.21% compared to the same period last year[6]. - Net profit attributable to shareholders was ¥72,664,278.76, a significant increase of 725.32% year-on-year[6]. - Basic earnings per share were ¥0.18, reflecting a 700.00% increase compared to the same period last year[6]. - Total revenue for Q1 2022 reached ¥603.29 million, a significant increase from ¥329.29 million in Q1 2021, representing an 83% year-over-year growth[31]. - Net profit for Q1 2022 was ¥72.55 million, compared to a net loss of ¥11.92 million in Q1 2021, marking a substantial turnaround[34]. - The company’s total profit for Q1 2022 was ¥112.36 million, a significant recovery from a loss of ¥5.58 million in Q1 2021[34]. - The company’s tax expenses for Q1 2022 were ¥39.81 million, up from ¥6.34 million in Q1 2021, indicating a 528% increase[34]. - Other income for Q1 2022 was reported at ¥5.22 million, a notable increase from ¥0.51 million in Q1 2021[31]. - The company’s financial expenses rose to ¥45.35 million in Q1 2022 from ¥20.84 million in Q1 2021, reflecting a 117% increase[31]. Cash Flow and Investments - The net cash flow from operating activities reached ¥287,545,287.70, up 259.39% from the previous year[6]. - The company reported a net cash flow from operating activities of ¥287.55 million in Q1 2022, compared to ¥80.01 million in Q1 2021, reflecting a 259% increase[36]. - The net cash flow from investing activities was -68,531,831.40 RMB, compared to -69,911,985.09 RMB in the previous period, indicating a slight improvement[38]. - Cash inflow from financing activities totaled 494,619,562.06 RMB, down from 821,690,000.00 RMB in the previous period, reflecting a decrease of approximately 40%[38]. - The company reported a net increase in cash and cash equivalents of 135,015,107.37 RMB, compared to 106,272,937.31 RMB in the previous period, showing a growth of about 27%[38]. Assets and Liabilities - Total assets at the end of the reporting period were ¥6,069,010,441.07, a 3.32% increase from the end of the previous year[9]. - The company's total assets amounted to approximately RMB 6.07 billion, an increase from RMB 5.87 billion as of December 31, 2021, reflecting a growth of about 3.2%[26]. - The company's current assets totaled approximately RMB 1.96 billion, compared to RMB 1.84 billion in the previous year, indicating an increase of about 6.2%[22]. - The company's total liabilities reached approximately RMB 4.01 billion, compared to RMB 3.90 billion in the previous year, reflecting an increase of about 2.8%[27]. - The company's equity attributable to shareholders increased to approximately RMB 2.06 billion from RMB 1.97 billion, showing a growth of about 4.9%[27]. - The total current liabilities were 2,848,763,317.00 RMB, remaining unchanged from the previous period, suggesting consistent short-term financial obligations[44]. - The company’s total liabilities were 3,291,000,000.00 RMB, reflecting a balanced approach to leveraging and financial risk management[44]. - Total liabilities amounted to approximately 3.90 billion, with non-current liabilities at approximately 1.05 billion[46]. Research and Development - Research and development expenses rose by 114.32% compared to the previous year, indicating increased investment in innovation[15]. - Research and development expenses increased to ¥17.76 million in Q1 2022 from ¥8.28 million in Q1 2021, representing a 114% rise[31]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 28,459[16]. Accounting Practices - The company implemented adjustments in accounting practices effective January 1, 2022, in accordance with the Ministry of Finance's new guidelines[48].

Financial Performance - The company achieved a consolidated net profit attributable to shareholders of ¥66,141,470.52 in 2021[5]. - The company's operating revenue for 2021 was approximately CNY 1.75 billion, an increase of 10.67% compared to CNY 1.58 billion in 2020[25]. - The net profit attributable to shareholders for 2021 was CNY 66.14 million, a significant recovery from a net loss of CNY 486.09 million in 2020, representing a 113.61% increase[25]. - The net cash flow from operating activities for 2021 was CNY 514.66 million, up 136.34% from CNY 217.76 million in 2020[25]. - The total assets at the end of 2021 were CNY 5.87 billion, reflecting a 16.43% increase from CNY 5.04 billion at the end of 2020[25]. - The company's net assets attributable to shareholders increased by 3.53% to CNY 1.97 billion at the end of 2021[25]. - Basic earnings per share for 2021 were CNY 0.17, a turnaround from a loss of CNY 1.22 per share in 2020, marking a 113.93% increase[25]. - The weighted average return on equity for 2021 was 3.42%, an increase of 26.27 percentage points from -22.85% in 2020[25]. - The company reported a quarterly revenue of CNY 606 million in Q4 2021, contributing to a total annual revenue growth[28]. - The company achieved operating revenue of 1,753,808,922.26 CNY in 2021, an increase of 10.67% compared to 2020[64]. Dividend Distribution - The proposed cash dividend distribution is ¥1 per 10 shares, totaling ¥40,000,010.00, subject to shareholder approval[5]. - As of the end of 2021, the company's undistributed profits amounted to ¥484,052,704.66[5]. - The company prioritizes cash dividends, committing to distribute no less than 20% of the annual distributable profits in cash dividends when conditions are met[187]. - The proposed cash dividend for 2021 is CNY 0.1 per share, totaling CNY 40,000,010.00, subject to shareholder approval[190]. - The company has established a cash dividend policy that mandates a minimum cash dividend ratio of 80% for mature companies without significant capital expenditure plans[189]. - The company did not distribute profits for the fiscal year 2020 due to a reported loss[190]. Operational Efficiency and Growth - The company has experienced a significant improvement in financial performance, indicating a positive outlook for future growth[25]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[25]. - The company has strengthened project management, focusing on progress, quality, and cost management, leading to improved operational efficiency[46]. - The company has initiated a digital transformation in management, establishing a data chain from basic data to decision-making, enhancing overall data management capabilities[47]. - The company is focusing on increasing oil and gas exploration and development efforts to ensure energy supply security amid rising foreign dependency[115]. - The company plans to gradually increase its exploration and development capacity, highlighting the emergence of scale effects and cost advantages[63]. - The company aims to enhance its core competitiveness in oil service engineering by expanding its integrated service offerings and maintaining a leading position in drilling operations[118]. Market Expansion and International Presence - The company signed new overseas engineering contracts worth approximately 2.006 billion RMB in 2021[42]. - The company successfully entered the Saudi drilling engineering market with contracts worth approximately 1.109 billion RMB, marking a historic breakthrough[42]. - The company has expanded its overseas drilling engineering market to multiple countries in the Middle East, North Africa, and Eurasia, including Saudi Arabia, Iraq, Egypt, and Pakistan, enhancing its international presence[58]. - The company is strategically seeking partnerships and joint ventures with domestic and international oil and gas companies to explore new development blocks[118]. - The drilling engineering segment targets Saudi Arabia for future overseas projects, with Libya, Russia, and Kuwait identified as supplementary and backup markets[126]. Risk Management and Compliance - The company has disclosed potential risks in its future development strategies and business plans[6]. - The company emphasizes the uncertainty of forward-looking statements and advises investors to be aware of investment risks[5]. - The company is focused on compliance with increasingly stringent safety and environmental regulations to mitigate risks associated with potential penalties[135]. - The company has established a robust governance structure, ensuring compliance with legal requirements and effective communication with shareholders[136]. - The company has identified and is addressing seven issues related to competition and fund management, with two remaining issues under review[200]. Research and Development - R&D investment totaled CNY 60.55 million, accounting for 3.45% of operating revenue, with no capitalized R&D expenditures[87]. - The number of R&D personnel is 167, representing 7.53% of the total workforce, with 11 holding master's degrees and 80 holding bachelor's degrees[88]. - The company is investing 20 million in R&D for new technologies aimed at enhancing operational efficiency[160]. - The company has accumulated 354 various patents, including invention and utility model patents, demonstrating strong innovation and R&D capabilities in the drilling sector[62]. Corporate Governance - The company has established several specialized committees, including an Audit Committee and a Strategic Committee, to enhance governance[169]. - The company has strengthened its information disclosure practices, ensuring timely and accurate reporting of its operational status and development strategies[142]. - The company’s governance structure has been continuously improved to protect shareholder interests and comply with relevant regulations[142]. - The company’s board of directors and senior management have not experienced significant changes in shareholding during the reporting period[153]. - The company has not faced any major discrepancies with the regulations set forth by the China Securities Regulatory Commission regarding corporate governance[142]. Employee Management and Training - The total number of employees in the parent company is 110, while the total number of employees in major subsidiaries is 2,109, resulting in a combined total of 2,219 employees[176]. - The company maintains a performance-based compensation mechanism, linking employee salaries to job responsibilities and performance evaluations[179]. - The training plan includes five major types of training: safety skills, operational skills, management, technical, and marketing, aimed at enhancing employee capabilities[182]. - The company has implemented an online learning system to enhance training levels and reach among employees in 2022[182]. Future Outlook - Future outlook includes a projected revenue growth of 10% for 2022, driven by new product launches and market expansion strategies[159]. - The company plans to complete the drilling of 120 development wells in 2022, aiming for an annual oil production of 385,000 tons, with a target production capacity of over 1,300 tons per day by year-end, and an overall annual production goal of 450,000 tons[122]. - The company is actively exploring new energy projects, including photovoltaic power generation and hydrogen energy infrastructure, to promote green and low-carbon development[121].

2021 年第三季度报告 单位：元 币种：人民币 1 / 16 证券代码：603619 证券简称：中曼石油 中曼石油天然气集团股份有限公司 2021 年第三季度报告 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。 重要内容提示： 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、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务 报表信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 年初至报告期 | --- | --- | --- | --- | --- | |------------------------------------------------|----------------|--------------------------------------|------------------|------------ ...

Financial Performance - Zhongman Petroleum reported a revenue of 1.2 billion RMB for the first half of 2021, representing a year-on-year increase of 15%[17]. - The company achieved a net profit of 200 million RMB, up 20% compared to the same period last year[17]. - The company's operating revenue for the first half of 2021 was CNY 743,508,151.52, a decrease of 16.12% compared to the same period last year[23]. - The net profit attributable to shareholders was CNY 19,443,076.41, a significant increase of 115.61% from a loss of CNY 124,562,491.49 in the previous year[23]. - The net cash flow from operating activities reached CNY 220,339,097.34, representing a substantial increase of 354.26% year-on-year[23]. - Basic earnings per share improved to CNY 0.05, up 116.13% from a loss of CNY 0.31 per share in the same period last year[25]. - The company has outlined a performance guidance of 2.5 billion RMB in revenue for the full year 2021, reflecting a 10% growth target[17]. - The company reported a net profit increase, with retained earnings rising to ¥411,076,471.41 from ¥388,922,631.91, an increase of approximately 5.7%[143]. - The company reported a total comprehensive income of CNY 11,108,781.02 for the first half of 2021[180]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 25% growth in regional revenue by 2022[17]. - Zhongman Petroleum is actively pursuing strategic acquisitions to enhance its service capabilities in the oil and gas sector[17]. - The company plans to leverage the increased capital expenditure by major state-owned oil companies to support its business development[34]. - The company has expanded its engineering services market to countries including Saudi Arabia, Iraq, Egypt, Pakistan, and Russia, enhancing its international competitiveness[38]. - The company is exploring market expansion opportunities to counteract the decline in comprehensive income[192]. Operational Efficiency and Technology - Zhongman Petroleum is investing 100 million RMB in new technology development for enhanced drilling efficiency[17]. - The company has developed a comprehensive product system in high-end oil and gas equipment manufacturing, with a focus on customized solutions for drilling engineering needs[39]. - The company has accumulated 315 various patents, showcasing its strong innovation and research capabilities in drilling technology[41]. - The company is transitioning towards digital management to improve overall management efficiency and effectiveness, establishing a comprehensive data management system[52]. Financial Integrity and Risks - No non-operational fund occupation by controlling shareholders was reported, ensuring financial integrity[7]. - The company has no plans for profit distribution or capital increase through reserves for this reporting period[6]. - The management highlighted potential risks related to market volatility and regulatory changes in the oil and gas industry[7]. - The company faced significant financial risks due to exchange rate fluctuations affecting overseas projects[76]. - The oil service industry is characterized by cyclical risks, heavily influenced by macroeconomic fluctuations and oil prices[74]. - The competitive landscape in the oil service industry remains intense, with significant challenges from larger players and market dynamics[76]. Environmental and Community Engagement - The company emphasizes green development and invests in pollution control technology[92]. - The company’s environmental protection facilities operated normally during the reporting period, with no environmental pollution incidents occurring[92]. - The company donated over 20,000 yuan worth of water-soluble high-efficiency compound fertilizers to local communities, supporting agricultural production and poverty alleviation efforts[97]. - The company has established a dedicated department for environmental protection, ensuring compliance with environmental regulations and enhancing performance in this area[95]. Shareholder and Capital Structure - The company did not distribute profits or increase capital reserves, with no dividends or stock bonuses declared for the year[83]. - The company’s major shareholder, Shanghai Zhongman Investment Co., Ltd., reduced its holdings by 4 million shares, holding a total of 142.37 million shares, representing 35.59% of the total shares[123]. - The total current assets as of June 30, 2021, amounted to CNY 1,767,598,864.37, a decrease from CNY 1,896,479,362.96 at the end of 2020, reflecting a decline of approximately 6.78%[138]. - The company is focusing on enhancing its capital structure to support future growth initiatives[195].

Financial Performance - Net profit attributable to shareholders was -¥11,620,368.87, representing a decrease of 272.47% year-on-year[19]. - Operating income for the period was ¥329,291,289.58, down 33.51% from the same period last year[19]. - Basic and diluted earnings per share were both -¥0.03, a decrease of 250.00% compared to the previous year[21]. - The total operating revenue for Q1 2021 was CNY 329,291,289.58, a decrease of 33.5% compared to CNY 495,251,808.73 in Q1 2020[61]. - The net profit for Q1 2021 was a loss of CNY 11,922,828.68, compared to a profit of CNY 6,700,674.92 in Q1 2020[65]. - The total comprehensive income for Q1 2021 was -¥36,950,659.75, compared to ¥17,515,481.46 in Q1 2020, reflecting a substantial drop[73]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥5,066,889,161.13, a 0.43% increase compared to the end of the previous year[19]. - Current assets totaled $3,323,994,226.39, up from $2,798,635,000.22, indicating a significant increase of about 18.7%[55]. - Non-current liabilities rose to $479,214,354.46 from $368,801,729.23, representing an increase of approximately 29.9%[51]. - Total liabilities amounted to $3,175,633,331.42, compared to $3,141,223,617.29, showing a growth of around 1.1%[51]. - The company's equity attributable to shareholders decreased to $1,892,569,493.14 from $1,904,759,085.05, a decline of about 0.6%[51]. - Total liabilities were CNY 3,141,223,617.29, down from CNY 3,155,673,071.94, indicating a reduction of CNY 14,449,454.65[89]. Cash Flow - Net cash flow from operating activities was ¥80,008,785.03, a significant increase of 2,605.77% compared to the previous year[19]. - Cash flow from operating activities surged by 2605.77% to RMB 80,008,785 from RMB 2,956,968 due to a decrease in cash payments for services compared to the previous year[38]. - The cash inflow from operating activities totaled ¥402,510,789.92 in Q1 2021, down from ¥748,170,456.23 in Q1 2020[76]. - The total cash inflow from operating activities in Q1 2021 was ¥428,630,331.71, down 50.1% from ¥858,777,724.23 in Q1 2020, indicating a decline in sales and service revenue[79]. Shareholder Information - The total number of shareholders at the end of the reporting period was 29,778[26]. - The largest shareholder, Shanghai Zhongman Investment Holding Co., Ltd., held 36.59% of the shares, with 146,369,800 shares pledged[26]. Government Support and Subsidies - The company received government subsidies amounting to ¥512,853.11 during the reporting period[21]. Operational Highlights - The company achieved an oil production of 21,022.32 tons in the first quarter of 2021, completing 100.11% of the quarterly target and 12.01% of the annual target[41]. - The overseas projects that were halted due to the pandemic have resumed operations in the first quarter of 2021, with new projects set to gradually start[42]. Cost Management - The company plans to focus on cost reduction strategies and potential market expansion to improve future performance[65]. - The company incurred financial expenses of ¥14,067,366.73 in Q1 2021, compared to ¥21,486,504.75 in Q1 2020, showing a decrease in financial costs[71]. Research and Development - Research and development expenses for Q1 2021 were ¥5,655,650.76, down from ¥11,437,087.32 in Q1 2020, indicating a reduction in R&D investment[71].

Financial Performance - The company reported a loss for the year 2020, leading to a decision not to distribute profits or increase capital reserves[8]. - The company's operating revenue for 2020 was approximately CNY 1.58 billion, a decrease of 35.66% compared to CNY 2.46 billion in 2019[29]. - The net profit attributable to shareholders of the listed company in 2020 was a loss of approximately CNY 486 million, compared to a profit of CNY 17 million in 2019, representing a decrease of 2,922.02%[29]. - The net cash flow from operating activities in 2020 was approximately CNY 218 million, down 26.58% from CNY 297 million in 2019[29]. - The total assets at the end of 2020 were approximately CNY 5.04 billion, a decrease of 7.01% from CNY 5.43 billion at the end of 2019[29]. - The basic earnings per share for 2020 was -CNY 1.22, compared to CNY 0.04 in 2019, reflecting a decrease of 3,150%[29]. - The weighted average return on net assets for 2020 was -22.85%, a decrease of 23.58 percentage points from 0.73% in 2019[29]. - The company reported a net profit of -48,716.45 million yuan, primarily due to the impact of the COVID-19 pandemic and falling oil prices, which led to project delays and contract terminations[84]. - The company experienced a significant loss of 22,990.45 million yuan due to project suspensions caused by the pandemic, with Iraq accounting for 19,349.94 million yuan of this loss[85]. - The total operating revenue for the company was 1,581,366,136.64 yuan, reflecting a decline of 35.55% compared to the previous year[98]. Audit and Governance - The company received a standard unqualified audit report from Zhonghui Certified Public Accountants[6]. - The board of directors confirmed that all members attended the board meeting, ensuring accountability for the report's accuracy[5]. - The company has not provided guarantees in violation of decision-making procedures[10]. - The company is committed to ensuring the financial report's authenticity and completeness[7]. - The board's profit distribution proposal is pending approval from the shareholders' meeting[8]. - The company has not reported any instances of funds being occupied during the reporting period[185]. - The company has not received any non-standard audit opinions from its accounting firm[185]. - The company appointed Zhonghui Certified Public Accountants as the new auditor for the 2020 financial year, replacing Lixin Certified Public Accountants, with an audit fee of 500,000[193]. Risk Management - The company faces various risks as outlined in the report, which investors should be aware of[10]. - The company emphasizes the importance of risk awareness in future development strategies[9]. - The company faces risks related to industry cyclicality, including fluctuations in oil prices and geopolitical uncertainties[163]. Market and Operational Strategy - The company has a strong market presence with clients including major international oil companies such as Shell, BP, and Saudi Aramco, enhancing its competitive edge in the oil service sector[51]. - The company’s exploration and development strategy includes active participation in oil and gas projects along the Belt and Road Initiative, focusing on both domestic and international markets[42]. - The company aims to enhance its development efficiency through strategic acquisitions and partnerships in overseas oil fields, ensuring risk control and reasonable layout in upstream exploration[42]. - The company plans to navigate the challenging market conditions by implementing strategic pricing adjustments and focusing on securing key projects[94]. - The company is focusing on the development of unconventional gas resources, including shale gas and coalbed methane, to enhance domestic gas supply[139]. - The company is exploring oil and gas terminal sales, aiming to establish a comprehensive business layout integrating exploration, terminal sales, engineering services, and equipment manufacturing[146]. Production and Development - The company achieved a significant increase in oil production, with an average daily output rising from 16.17 tons in 2019 to 125.42 tons in 2020, and cumulative production reaching 45,778.5 tons for the year[60]. - The average daily production in March 2021 reached 287 tons, reflecting a strong recovery trajectory in oil output[60]. - The company plans to complete 24 reservoir evaluation wells and 52 exploratory wells in 2021, aiming for an annual oil production of 175,000 tons[156]. - The company achieved a quarterly oil production of 21,022.32 tons from the Wensu project, exceeding its quarterly target by 0.11%[156]. Research and Development - Total R&D investment amounted to 105.25 million yuan, accounting for 6.64% of operating revenue, with a decrease of 12.09% compared to the previous year[110][111]. - The total capitalized R&D investment was 34.72 million yuan, representing 32.99% of total R&D investment[110]. - The company is committed to advancing equipment manufacturing towards high-end and intelligent development, enhancing product quality and service levels[145]. - The digital transformation in oil and gas exploration and development is accelerating, with a focus on automation and intelligent solutions to reduce costs and improve efficiency[145]. Shareholder Relations - The company reported a net profit attributable to ordinary shareholders of -486,091,162.67 RMB for the year 2020, with a profit distribution ratio of 0%[175]. - The company has established a three-year shareholder dividend return plan for 2018-2020, which was approved by the board and aims to protect the rights of minority investors[173]. - The company strictly adheres to its profit distribution policy and emphasizes transparency in cash dividends[174]. - There were no cash dividends or stock dividends proposed for the years 2019 and 2020[175]. Legal and Compliance - The company reported no significant litigation or arbitration matters during the year[197]. - The company disclosed a related party transaction amounting to 10.3661 million during the reporting period[200].

Financial Performance - Operating revenue for the first nine months was CNY 1,216,704,326.74, down 24.65% year-on-year[19] - Net profit attributable to shareholders of the listed company was a loss of CNY 278,720,398.34, a decline of 820.73% compared to the previous year[19] - Basic and diluted earnings per share were both CNY -0.70, down 800% from CNY 0.10 in the previous year[21] - The weighted average return on net assets was -12.54%, a decrease of 14.16 percentage points compared to the previous year[21] - The company reported a net loss of RMB 279,525,886.10 for the first nine months of 2020, a decrease of 833.09% compared to the same period in 2019[33] - Total operating revenue for Q3 2020 was ¥330,279,101.77, a decrease of 50.3% compared to ¥665,420,730.14 in Q3 2019[58] - The company reported a significant reduction in employee compensation liabilities, down to ¥68,104,920.14 from ¥108,283,497.75[55] - The company’s total operating costs for Q3 2020 were 386,335,404.88 CNY, compared to 541,168,431.19 CNY in Q3 2019, reflecting a decrease of approximately 28.7%[69] - The total operating profit was -119,204,550.44, showing a significant loss compared to the previous period's profit of 91,281,405.55[76] - The net profit for the period was -122,648,513.78, a decline from the previous net profit of 62,999,819.67[76] Assets and Liabilities - Total assets at the end of the reporting period were CNY 5,289,146,807.10, a decrease of 2.51% compared to the end of the previous year[19] - Current assets totaled RMB 2,154,057,001.28, down from RMB 2,460,481,278.92, indicating a decrease of about 12.4% year-over-year[43] - Total liabilities increased to RMB 3,199,899,903.64 from RMB 3,060,368,978.45, marking an increase of approximately 4.5%[49] - Short-term borrowings rose to RMB 1,204,537,744.17, up from RMB 933,159,518.39, reflecting an increase of about 29.0%[47] - The company's equity attributable to shareholders decreased to RMB 2,089,990,281.31 from RMB 2,364,820,232.01, a decline of approximately 11.6%[49] - The company’s total non-current assets rose to RMB 3,135,089,805.82 from RMB 2,964,770,041.45, an increase of about 5.7%[47] - Total liabilities amounted to approximately ¥2,491,976,692.10 from ¥2,119,764,068.60, reflecting a rise of 17.6%[55] - The company has a total asset value of approximately ¥4.55 billion, indicating a solid asset base for future growth[99] Cash Flow - The net cash flow from operating activities for the first nine months was CNY 14,530,218.47, a decrease of 68.41% year-on-year[19] - The company reported a decrease in cash received from operating activities related to other business by 32.5% compared to the previous period[82] - Cash inflow from operating activities reached CNY 2,135,363,737.22, compared to CNY 1,752,570,013.54 in 2019, indicating an increase of about 22%[84] - Cash outflow from operating activities was CNY 1,832,016,690.22, up from CNY 1,657,207,207.05 in the previous year, reflecting a rise of approximately 10.5%[84] - The net cash flow from investing activities was -CNY 27,857,228.08, an improvement from -CNY 161,994,009.83 in 2019, showing a reduction in losses by about 83%[86] - The ending cash and cash equivalents balance was CNY 30,873,059.80, down from CNY 53,944,049.10 in the previous year, a decline of approximately 43%[86] Shareholder Information - The total number of shareholders at the end of the reporting period was 24,596[27] - The largest shareholder, Shanghai Zhongman Investment Holding Co., Ltd., held 36.59% of the shares, with 116,940,000 shares pledged[27] Government Support and Investments - The company received government subsidies amounting to CNY 3,976,041.98 during the reporting period[24] - The company achieved a significant oil and gas exploration breakthrough in the Wensu area, with newly reported proven oil reserves of 30.11 million tons and natural gas reserves of 449 million cubic meters[36] - The company completed 377 square kilometers of 3D seismic exploration in the Wensu block, representing about one-third of the planned area[36] Future Outlook - The company anticipates a potential net loss for the year due to the impact of the overseas pandemic and falling oil prices on its drilling operations[38] - The company plans to focus on market expansion and new product development in the upcoming quarters[62]