Financial Performance - The company's operating revenue for Q1 2022 was CNY 200,318,930.73, representing a year-on-year increase of 65.02%[5] - The net profit attributable to shareholders was CNY 30,431,143.44, reflecting a significant increase of 136.94% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 281.39% to CNY 23,872,046.53[5] - Basic and diluted earnings per share were both CNY 0.16, an increase of 128.57% compared to the previous year[6] - Total operating revenue for Q1 2022 reached ¥200,318,930.73, a significant increase of 65% compared to ¥121,393,845.67 in Q1 2021[19] - Net profit for Q1 2022 was ¥30,431,143.44, compared to ¥12,060,379.03 in Q1 2021, representing an increase of 152%[20] - The company reported a gross profit margin of approximately 15% for Q1 2022, compared to 10% in Q1 2021[19] Cash Flow - The net cash flow from operating activities was negative at CNY -16,374,267.46, a decrease of 177.90% year-on-year[6] - Cash flow from operating activities for Q1 2022 was negative at -¥16,374,267.46, compared to a positive cash flow of ¥21,019,790.45 in Q1 2021[21] - The net cash flow from investment activities was negative at ¥75,966,718.01, compared to a positive cash flow of ¥42,762,546.85 in the same quarter last year[22] - The net cash flow from financing activities was positive at ¥15,176,425.09, a turnaround from a negative cash flow of ¥21,242,788.37 in the same quarter last year[22] - The net increase in cash and cash equivalents was negative at ¥77,332,521.93, compared to a positive increase of ¥43,186,952.97 in the previous year[22] - The ending balance of cash and cash equivalents was ¥55,667,758.62, down from ¥207,368,663.98 at the end of the previous year[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,999,274,943.28, an increase of 4.24% from the end of the previous year[6] - Current assets totaled CNY 1,211,478,097.68, compared to CNY 1,174,337,693.90 at the end of 2021, indicating an increase of about 3.14%[13] - Total liabilities as of the end of Q1 2022 were ¥483,723,822.77, an increase from ¥426,203,474.79 at the end of Q1 2021[19] - Total equity attributable to shareholders reached ¥1,515,551,120.51 in Q1 2022, up from ¥1,491,720,747.97 in Q1 2021[19] Research and Development - Total R&D investment amounted to CNY 6,633,939.90, up 44.10% year-on-year, accounting for 3.31% of operating revenue[6] - Research and development expenses for Q1 2022 were ¥6,633,939.90, an increase of 44% from ¥4,603,643.52 in Q1 2021[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 6,218[10] - The largest shareholder, Nanjing Diwei Er Industrial Co., Ltd., held 25.81% of the shares, totaling 50,250,000 shares[10] Other Financial Metrics - The return on equity (ROE) was 2.06%, an increase of 1.22 percentage points compared to the previous year[6] - The company reported a significant increase in prepayments, which rose to CNY 33,275,483.68 from CNY 14,293,175.13, a growth of about 133.4%[13] - Cash inflow from investment activities in Q1 2022 amounted to ¥553,519,914.89, compared to ¥516,243,038.90 in Q1 2021[21] - The total cash outflow from investment activities amounted to ¥629,486,632.90, an increase from ¥473,480,492.05 in the previous year, reflecting a growth of approximately 33%[22] - The company did not apply the new accounting standards for the current year, as indicated in the report[22] - The report was released by the board of directors on April 22, 2022, highlighting the financial performance for the first quarter of 2022[22]

Financial Performance - The net profit attributable to the parent company's shareholders for 2021 was CNY 32.1895 million, with a cumulative undistributed profit at year-end of CNY 340.3654 million[4]. - The company plans not to distribute profits for 2021 and will not increase capital reserves into share capital[4]. - The amount repurchased by the company in 2021 was CNY 23.3965 million, accounting for 72.68% of the net profit attributable to shareholders[4]. - The company's operating revenue for 2021 was CNY 527,937,089.91, a decrease of 25.44% compared to CNY 708,103,710.26 in 2020[21]. - The net profit attributable to shareholders for 2021 was CNY 32,189,538.33, down 59.89% from CNY 80,256,495.57 in 2020[21]. - The cash flow from operating activities for 2021 was CNY 66,874,933.43, a decline of 56.68% compared to CNY 154,391,285.37 in 2020[21]. - The basic earnings per share for 2021 was CNY 0.17, a decrease of 64.58% from CNY 0.48 in 2020[22]. - The total assets at the end of 2021 were CNY 1,917,924,222.76, an increase of 2.94% from CNY 1,863,160,194.97 at the end of 2020[21]. - The company's net assets attributable to shareholders at the end of 2021 were CNY 1,491,720,747.97, a decrease of 1.68% from CNY 1,517,206,812.59 at the end of 2020[21]. Risks and Challenges - The company has disclosed various risks in the "Management Discussion and Analysis" section, including industry, market, international trade, and foreign exchange risks[3]. - The company has not achieved profitability since its listing[3]. - The company faced challenges due to the COVID-19 pandemic and geopolitical issues, leading to reduced orders and lower revenue[23]. - The company is at risk of market competition intensifying, particularly as more domestic companies gain API certification and enter the supply chain of major clients[86]. - The company faces risks from geopolitical changes and increasing international trade frictions, which could negatively impact future performance[98][99]. - The company is facing risks related to new product development, which requires substantial investment in personnel, funds, and testing materials[83]. Research and Development - Research and development expenses accounted for 4.85% of operating revenue in 2021, down from 5.01% in 2020[22]. - The company’s R&D investment totaled approximately ¥25.62 million in the reporting period, a decrease of 27.70% compared to the previous year, with R&D expenses accounting for 4.85% of total revenue[64]. - The company has obtained a total of 116 patents, including 39 invention patents, and has participated in the formulation of 3 national standards and 4 industry standards[58]. - The company is conducting extensive research on valve and wellhead products, with a focus on API 6A and PR2F performance certifications, enhancing product reliability[68]. - The company is committed to increasing R&D investment to develop high-value-added products using special materials and processes, targeting breakthroughs in deep-sea equipment and specialized oil and gas components[145]. Market Position and Strategy - The company aims to enhance its market competitiveness and market share through the development of a 350MN multi-directional forging hydraulic press for key components in deep-sea and fracturing equipment[36]. - The company has established long-term strategic partnerships with major oil and gas service companies, enhancing its industry position[38]. - The company is focusing on innovation and cost reduction, implementing detailed cost control indicators and promoting self-inspection within departments[34]. - The company is committed to strengthening its marketing efforts and expanding its market share in high-value segments such as deep-sea and fracturing equipment[33]. - The company has established itself as a key supplier of specialized components in the international oil and gas technology service market, focusing on high-value-added products[142]. Governance and Compliance - The company has established a transparent performance evaluation and incentive mechanism for senior management to promote accountability and effective governance[151]. - The company emphasizes the importance of maintaining the legitimate rights and interests of stakeholders, including customers, suppliers, employees, and the community, to promote sustainable and healthy development[152]. - The company strictly adheres to the regulations of the "Management Measures for Information Disclosure of Listed Companies," ensuring accurate, complete, and timely information disclosure through designated media[152]. - The company has not faced any penalties from securities regulatory agencies in the past three years[169]. - The company has established effective management and control systems for its subsidiaries, ensuring compliance with internal regulations[194]. Future Outlook - The company plans to expand its market presence and is focusing on new product development to enhance its competitive edge[159]. - The company has set ambitious performance guidance for the upcoming year, aiming for a growth rate of over 15% in revenue[159]. - Future outlook remains positive, with expectations of continued growth driven by new market opportunities and product launches[159]. - The company is exploring potential acquisitions to further strengthen its market position, with a budget of $500 million allocated for this purpose[160].

Financial Performance - The company's operating revenue for Q3 2021 was ¥137,527,886.58, a decrease of 20.14% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2021 was ¥8,493,179.28, down 30.11% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥5,228,067.34, a decline of 48.44% compared to the previous year[5]. - The net profit attributable to shareholders for the year-to-date was ¥27,825,719.23, a decrease of 60.43% compared to the same period last year[5]. - Total operating revenue for the first three quarters of 2021 was ¥386,104,872.78, a decrease from ¥564,820,966.81 in the same period of 2020, representing a decline of approximately 31.6%[18]. - Net profit for the third quarter of 2021 was ¥25,961,072.23, a significant decrease from ¥69,366,694.13 in the same quarter of 2020, reflecting a decline of approximately 62.6%[20]. - Total profit for the third quarter of 2021 was ¥27,589,885.45, down from ¥77,808,571.42 in the same quarter of 2020, representing a decline of approximately 64.6%[20]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,892,535,516.86, reflecting a slight increase of 1.58% from the end of the previous year[6]. - As of September 30, 2021, the total assets of Nanjing Diweier High-end Manufacturing Co., Ltd. amounted to CNY 1,892,535,516.86, an increase from CNY 1,863,160,194.97 at the end of 2020, representing a growth of approximately 1.9%[13]. - Total liabilities rose to CNY 376,828,225.14, compared to CNY 331,709,083.11 at the end of 2020, marking an increase of approximately 13.6%[15]. - The company's equity attributable to shareholders decreased slightly to CNY 1,513,108,177.79 from CNY 1,517,206,812.59, a decline of about 0.3%[15]. - The total current assets amounted to CNY 1,222,045,680.74, a decrease from CNY 1,273,918,787.22 at the end of 2020, representing a decline of approximately 4.1%[13]. - The company’s total liabilities to equity ratio stood at approximately 24.9%, indicating a relatively stable leverage position compared to previous periods[15]. Cash Flow - The company's cash flow from operating activities for the year-to-date was ¥26,823,678.67, down 69.18% year-on-year[6]. - Cash inflow from operating activities for the first three quarters of 2021 was ¥456,275,897.93, down from ¥600,174,958.02 in 2020, representing a decline of approximately 24%[24]. - The net cash flow from operating activities was $26,823,678.67, a decrease of 69% compared to $87,025,217.73 in the previous year[25]. - Total cash outflow from operating activities was $429,452,219.26, down from $513,149,740.29 in the previous year[25]. - The ending balance of cash and cash equivalents was $272,050,092.20, an increase from $173,186,975.77 year-over-year[26]. Research and Development - Research and development expenses totaled ¥5,720,100.36 for Q3 2021, a decrease of 45.32% compared to the same period last year[6]. - Research and development expenses for the third quarter of 2021 were ¥17,158,463.10, a decrease from ¥29,439,796.57 in the same period of 2020, indicating a reduction of about 41.7%[19]. Other Financial Metrics - The basic earnings per share for Q3 2021 were ¥0.04, a decrease of 34.79% year-on-year[6]. - Basic earnings per share for the third quarter of 2021 were ¥0.14, compared to ¥0.43 in the same quarter of 2020, showing a decrease of about 67.4%[21]. - The weighted average return on net assets was 0.56%, down 0.40 percentage points from the previous year[6]. - Tax expenses for the third quarter of 2021 were ¥1,628,813.22, down from ¥8,441,877.29 in the same quarter of 2020, reflecting a decrease of approximately 80.7%[20]. - Other income for the third quarter of 2021 was ¥5,955,499.98, an increase from ¥3,500,441.12 in the same period of 2020, indicating a growth of about 70.3%[19]. Inventory and Prepayments - Inventory levels increased to CNY 281,827,907.93 from CNY 192,832,956.61, reflecting a rise of about 46.1%[14]. - The company reported a significant increase in prepayments, which rose to CNY 42,432,336.31 from CNY 9,152,150.91, indicating a growth of approximately 364.5%[13]. Borrowings - Short-term borrowings were not reported as of September 30, 2021, compared to CNY 11,015,277.78 at the end of 2020, suggesting a reduction in short-term debt[15]. - The company’s long-term borrowings increased to CNY 31,475,984.24 from CNY 18,290,868.98, reflecting a growth of approximately 72.2%[15].

Financial Performance - The company's operating revenue for the first half of the year was ¥248,576,986.20, a decrease of 36.69% compared to the same period last year[19]. - The net profit attributable to shareholders was ¥19,332,539.95, down 66.77% year-on-year[19]. - The net profit after deducting non-recurring gains and losses was ¥9,256,683.33, reflecting an 82.93% decrease compared to the previous year[19]. - The basic earnings per share decreased to ¥0.10, down 75.00% from ¥0.40 in the same period last year[20]. - The weighted average return on equity dropped to 1.27%, a decrease of 6.40 percentage points compared to the previous year[20]. - The company's sales revenue decreased by 36.69% compared to the same period last year due to the impact of COVID-19 and reduced capital expenditures from major oil and gas companies[51]. - The company's revenue for the reporting period decreased by 36.69% year-on-year, totaling approximately ¥248.58 million, primarily due to the impacts of COVID-19 and geopolitical factors[59]. - Gross profit margin declined by 9.36 percentage points, attributed to reduced revenue and significant short-term increases in raw material prices[60]. - The company reported a total revenue of 50,250,000 RMB for the first half of 2021[117]. - The net profit for the first half of 2021 was RMB 18,773,639.89, down 68.7% from RMB 59,801,594.94 in the same period last year[139]. Cash Flow and Investments - The net cash flow from operating activities increased significantly to ¥37,235,038.83, a rise of 552.99% year-on-year[19]. - The company reported a total investment cash inflow of RMB 970,057,968.66, compared to RMB 489,638.28 in the previous year[142]. - The net cash flow from operating activities was 37,279,666.63 RMB, a significant increase from 9,405,568.38 RMB in the previous period, reflecting a growth of approximately 295%[145]. - The total cash inflow from financing activities was 130,174,081.01 RMB, up from 78,634,000.00 RMB, showing a growth of approximately 65.7%[145]. - The company received tax refunds amounting to RMB 18,083,065.33, an increase from RMB 12,117,190.76 in the previous year[141]. Research and Development - Research and development expenses accounted for 4.60% of operating revenue, a slight decrease of 0.23 percentage points year-on-year[20]. - The company has achieved a 39.65% decrease in research and development expenses, totaling approximately 11.44 million yuan in the current period compared to 18.98 million yuan in the previous period[41]. - The total investment in R&D for the current period is CNY 40,800,000, with a cumulative investment of CNY 26,196,693.12[43]. - The company has 115 R&D personnel, representing 15.52% of the total workforce, an increase from 15.07% in the previous period[45]. - The average salary of R&D personnel is CNY 7.19 million, slightly up from CNY 7.13 million in the previous period[45]. - The company is currently developing a high-temperature and corrosion-resistant fracturing equipment with a total investment of CNY 5,000,000, of which CNY 4,126,085.53 has been invested to date[42]. Market Position and Strategy - The company has established long-term strategic partnerships with major oil and gas service companies, enhancing its market position[27]. - The company is positioned to benefit from the transfer of manufacturing capabilities from overseas clients to high-quality suppliers in China, enhancing its competitive advantage[36]. - The company aims to become a global leader in high-end equipment component manufacturing, focusing on specialized markets such as deep-sea and fracturing equipment[50]. - The company has successfully delivered underwater connectors for deep-sea operations in Brazil and signed long-term supply agreements with clients[33]. - The company has optimized its product structure and increased the development of deep-sea equipment components, completing its first deep-sea core component connector order in collaboration with TechnipFMC[52]. Risks and Challenges - The company faces various risks including industry, market, international trade, and foreign exchange risks[5]. - The company relies heavily on a few major clients, with nearly 80% of its revenue coming from its top five customers, posing a risk to its financial stability[56]. - The company’s main raw material, special steel, accounts for approximately 60% of its main business costs, making it vulnerable to price fluctuations[57]. - The company faces risks from market competition, with the top five suppliers in the global deep-sea equipment market holding over 70% market share[54]. - The company experienced foreign exchange losses during the reporting period due to the appreciation of the RMB, which poses a risk for future transactions[58]. Corporate Governance and Compliance - The board of directors and management guarantee the accuracy and completeness of the financial report[5]. - The company has passed ISO14000 and OHSAS18000 certifications, ensuring compliance with environmental regulations[83]. - The company reported no administrative penalties related to environmental issues during the reporting period[84]. - The company confirmed that the departure of key technical personnel will not impact its core technology or operations[77]. - The company has established a comprehensive quality management system to ensure product quality stability and performance enhancement[46]. Shareholder Information - The company did not distribute profits or increase capital reserves during the first half of 2021[7]. - Major shareholders are prohibited from selling their shares for 6 months after leaving their positions[90]. - The company has established a mechanism to ensure compliance with lock-up agreements to protect investor interests[88]. - The company reported a total of 7.2 million shares held prior to the IPO, which will not be transferred or managed by others for 12 months post-listing[92]. - The company has a total of 50,250,000 shares locked for 36 months since listing, with no new shares available for trading[119]. Financial Position - Total assets at the end of the reporting period amounted to ¥1.83 billion, with cash and cash equivalents accounting for 9.81% of total assets[64]. - The company’s inventory increased by 30.72% to ¥252.06 million, reflecting a buildup of raw materials and work-in-progress[64]. - The company’s fixed assets decreased by 6.33% to ¥285.43 million, indicating a reduction in capital investments[64]. - The company’s total liabilities to equity ratio is approximately 0.22, indicating a relatively low leverage position[127]. - The company’s total liabilities at the end of the period were CNY 352,047,886.45[162].

Financial Performance - Operating income fell by 33.07% to CNY 121.39 million, primarily due to the impact of the COVID-19 pandemic[12] - Net profit attributable to shareholders decreased by 73.82% to CNY 6.26 million[5] - Total profit decreased by 55.11% to ¥13,750,366.12, driven by reduced sales revenue and increased costs[13] - Net profit fell by 55.49% to ¥12,060,379.03, reflecting a decline in operating profit[13] - Total revenue for Q1 2021 was CNY 121,393,845.67, a decrease of 32.98% compared to CNY 181,384,706.09 in Q1 2020[23] - Total operating costs for Q1 2021 were CNY 116,309,348.12, down 25.31% from CNY 155,697,449.47 in Q1 2020[23] - Net profit for Q1 2021 was CNY 12,060,379.03, a decline of 55.49% from CNY 27,097,873.23 in Q1 2020[24] - The total profit for Q1 2021 was CNY 16.73 million, down 48.5% from CNY 32.48 million in Q1 2020[27] Cash Flow - Cash flow from operating activities decreased by 48.84% to CNY 21.02 million[5] - Cash flow from operating activities decreased by 48.84% to ¥21,019,790.45, due to reduced cash received from sales[13] - The net cash flow from operating activities for Q1 2021 was CNY 21.02 million, a decline of 48.8% compared to CNY 41.09 million in Q1 2020[29] - Cash inflow from operating activities totaled CNY 174.21 million in Q1 2021, down 6.8% from CNY 186.95 million in Q1 2020[29] - The company incurred financial expenses of CNY 589.54 in Q1 2021, a significant decrease from CNY 928.77 million in Q1 2020[26] Assets and Liabilities - Total assets decreased by 0.59% to CNY 1,852.12 million compared to the end of the previous year[5] - Total assets as of March 31, 2021, were CNY 1,852,921,382.41, slightly down from CNY 1,858,738,108.22 at the end of 2020[21] - Total liabilities as of March 31, 2021, were CNY 296,612,324.45, a decrease from CNY 317,303,510.78 at the end of 2020[20] - Current liabilities decreased to ¥261,926,989.66 from ¥282,450,412.89, indicating improved liquidity management[17] Research and Development - R&D expenditure as a percentage of operating income decreased by 1.36 percentage points to 3.79%[5] - R&D expenses decreased by 50.71% to ¥4,603,643.52 due to reduced project investments[13] - The company reported a decrease in research and development expenses to CNY 4,603,643.52 in Q1 2021 from CNY 9,339,821.19 in Q1 2020[23] - Research and development expenses decreased to CNY 4.60 million in Q1 2021 from CNY 9.34 million in Q1 2020, representing a reduction of 50.8%[26] Government Support - The company received government subsidies amounting to CNY 424.83 million related to information technology and imported equipment[8] - The company reported a significant increase in other income by 102.73% to ¥4,248,333.33, due to increased government subsidies for information technology[13] Shareholder Information - The number of shareholders reached 11,911 at the end of the reporting period[10] Cash Management - The company's cash and cash equivalents increased to ¥235,821,328.73 from ¥192,367,565.20, reflecting better cash management[15] - Cash and cash equivalents increased to CNY 188,231,183.49 from CNY 179,832,512.02 at the end of 2020[20] - The company reported a significant increase in cash and cash equivalents, ending Q1 2021 with CNY 207.37 million, up from CNY 69.51 million at the end of Q1 2020[30] - The ending balance of cash and cash equivalents increased to ¥159,778,644.22, up from ¥65,915,363.22 at the end of Q1 2020[33]

Financial Performance - The net profit attributable to the parent company for 2020 was CNY 80.2565 million, with a cumulative undistributed profit at year-end of CNY 342.3007 million[5]. - The proposed cash dividend is CNY 1.60 per 10 shares, totaling CNY 31.1467 million to be distributed to shareholders[5]. - The net profit attributable to shareholders decreased by 15.36% to CNY 80.26 million in 2020 from CNY 94.82 million in 2019[21]. - In 2020, the company's operating income was CNY 708.10 million, a 2.05% increase from CNY 693.90 million in 2019[21]. - The company's total assets reached CNY 1,863.16 million at the end of 2020, a 56.84% increase from CNY 1,187.93 million at the end of 2019[21]. - The basic earnings per share decreased by 26.15% to CNY 0.48 in 2020 from CNY 0.65 in 2019[22]. - The company reported a significant increase in net assets attributable to shareholders, which rose by 112.77% to CNY 1,517.21 million at the end of 2020[21]. - The company reported a total revenue of CNY 46.8 million for the year, with a net profit of CNY 28.06 million, representing a profit margin of approximately 60%[48]. - The company achieved a total revenue of 2,350 million, with a net profit margin of 33%[193]. Cash Flow and Investments - The net cash flow from operating activities increased significantly by 102.42% to CNY 154.39 million in 2020 compared to CNY 76.27 million in 2019[21]. - The company reported a net cash outflow from investment activities of CNY -674.83 million, primarily due to increased project investments[80]. - The company has invested CNY 565.29 million in trading financial assets as of the end of 2020, reflecting a strategic use of idle funds[53]. - The company has a total of 563,000,000 RMB in unexpired principal balance for structured deposits as of the end of the reporting period[147]. - The company has confirmed that all projects have not reached the expected benefits[156]. Research and Development - Research and development expenses accounted for 5.01% of operating income in 2020, up from 4.16% in 2019[22]. - Research and development (R&D) expenses increased by 22.75% year-on-year, totaling approximately ¥35.43 million, which represents 5.01% of total revenue[44][45]. - The company applied for 15 patents and obtained 22 patents during the reporting period, bringing the total to 116 patents, including 37 invention patents[43]. - The company is actively involved in the development of high-end manufacturing technologies for deep-sea oil and gas equipment, which is crucial for meeting stringent performance and reliability standards[40][42]. - The company has ongoing projects with a total expected investment of ¥35.8 million, focusing on advanced technologies for deep-sea oil extraction and fracturing equipment[47]. Market Position and Strategy - The company has established long-term strategic partnerships with major oil and gas service companies such as TechnipFMC, Schlumberger, and Baker Hughes, enhancing its market position[31]. - The company’s main business includes four product series: wellhead and Christmas tree components (40.34% of revenue), deep-sea equipment components (25.46%), fracturing equipment components (28.17%), and drilling equipment components (4.62%) in 2020[31]. - The company focuses on high-end API product specifications, particularly PSL3-4 levels, positioning itself as a key supplier in the deep-sea equipment sector in the Asia-Pacific region[38]. - The company aims to enhance its market position through the construction of a precision manufacturing project for key components in oil and gas equipment[39]. - The company is focusing on expanding its market presence in both domestic and international markets, particularly in high-end sectors[119]. Risks and Governance - The company faced various risks including industry, market, international trade, and foreign exchange risks, which are detailed in the report[4]. - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[7]. - The company’s governance structure and decision-making processes comply with regulations, with no violations reported[7]. - The report emphasizes the importance of investor awareness regarding investment risks associated with forward-looking statements[6]. Shareholder and Management Information - The company reported a lock-up period of 36 months for shares held by directors and senior management prior to the public offering[129]. - The company has established a clear framework for share transfer restrictions to maintain market stability[129]. - The company has committed to compensating investors for any losses incurred due to non-compliance with the outlined commitments[132]. - The total pre-tax compensation for the Chairman and General Manager, Zhang Li, was CNY 1.176 million[192]. - The company has no stock incentive plans applicable for the reporting period[198]. Future Outlook - The company’s future plans and development strategies are subject to uncertainties and do not constitute a commitment to investors[6]. - The company plans to increase capital expenditures in oil and gas exploration and development to maintain competitiveness, as global energy demand continues to grow[104]. - The company aims to achieve a 20% growth in sales through enhanced digital marketing strategies over the next year[193]. - Future guidance indicates a revenue target of 2,800 million for the upcoming fiscal year, representing a 19% increase[193].

Financial Performance - The net profit attributable to the parent company for 2020 was CNY 80.2565 million, with a cumulative undistributed profit of CNY 342.3007 million at year-end[4]. - The company's operating revenue for 2020 was CNY 708.10 million, an increase of 2.05% compared to CNY 693.90 million in 2019[20]. - The net profit attributable to shareholders for 2020 was CNY 80.26 million, a decrease of 15.36% from CNY 94.82 million in 2019[20]. - The net cash flow from operating activities increased by 102.42% to CNY 154.39 million in 2020, compared to CNY 76.27 million in 2019[20]. - The company's total assets at the end of 2020 were CNY 1,863.16 million, a 56.84% increase from CNY 1,187.93 million at the end of 2019[20]. - The basic earnings per share for 2020 was CNY 0.48, down 26.15% from CNY 0.65 in 2019[21]. - The company reported a total revenue of CNY 46.8 million for the year 2020, with a net profit of CNY 28.06 million, representing a year-on-year increase of approximately 30.5%[47]. - The company reported a total revenue of 2,350 million, with a net profit margin of 33.5%[192]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion in 2020, representing a growth of 15% year-over-year[194]. Dividend and Profit Distribution - The proposed cash dividend distribution is CNY 1.60 per 10 shares, totaling CNY 31.14672 million based on a total share capital of 194,667,000 shares as of December 31, 2020[4]. - The company does not plan to implement capital reserve transfers or stock dividends, with remaining undistributed profits carried forward for future distribution[4]. - The company has committed to a cash dividend policy, ensuring that the cumulative cash dividends over three years will not be less than 30% of the average distributable profit for those years, provided certain conditions are met[122]. - The company has not proposed any capital reserve conversion or stock dividend distribution for the year 2020, opting to carry forward undistributed profits for future allocation[123]. Risks and Compliance - The company has faced various risks including industry, market, international trade, and foreign exchange risks, which are detailed in the report[3]. - The report includes a standard unqualified audit opinion from the accounting firm Tianye[3]. - The company has not experienced any non-operational fund occupation by controlling shareholders or related parties[6]. - There are no violations of decision-making procedures regarding external guarantees[6]. - The company’s governance structure is confirmed to be compliant, with all board members present at the meeting[3]. - The report includes a forward-looking statement risk declaration, indicating uncertainties in future plans and strategies[5]. - The company has maintained good integrity status, with no overdue large debts or penalties from regulatory bodies[143]. - The company has not faced any situations that could lead to delisting or bankruptcy during the reporting period[142]. Research and Development - Research and development expenses accounted for 5.01% of operating revenue in 2020, up from 4.16% in 2019[21]. - The total R&D investment for the year was ¥35,431,871.70, representing a 22.75% increase from the previous year's investment of ¥28,865,060.41, and accounting for 5.01% of total revenue[43][44]. - The company applied for 15 patents and obtained 22 patents during the reporting period, bringing the total number of patents to 116, including 37 invention patents[42]. - The company has made significant investments in new product development, with a focus on underwater oil extraction and new wellhead oil extraction technologies, with R&D budgets exceeding CNY 3 million and CNY 4.2 million respectively[47]. - The company is investing $50 million in R&D for new technologies aimed at enhancing user experience[128]. - The company has invested 50 million in research and development to innovate new technologies and improve existing products[194]. Market Position and Strategy - The company has established long-term strategic partnerships with major oil and gas service companies such as TechnipFMC, Schlumberger, and Baker Hughes, enhancing its market position[37]. - The company employs a "sales-driven production" model, allowing it to align production with customer demand and secure long-term supply agreements[31]. - The company is positioned as one of the few suppliers capable of entering the procurement systems of multiple global oil and gas service companies, particularly in the deep-sea equipment sector[37]. - The company’s main products include wellhead and Christmas tree components (40.34% of revenue), deep-sea equipment components (25.46%), fracturing equipment components (28.17%), and drilling equipment components (4.62%) in 2020[30]. - The company has established itself as a key supplier of specialized components for major international oil and gas service companies in the Asia-Pacific region[41]. - The company aims to become a global leader in high-end equipment component manufacturing, focusing on deep-sea and fracturing equipment components, aligning with national high-end equipment manufacturing development plans[113]. - The company is focusing on maintaining capital expenditures to ensure competitiveness in the oil and gas sector amid fluctuating oil prices[103]. - The company plans to enhance its technological research and development capabilities by investing in new R&D facilities and equipment, aiming for breakthroughs in high-value-added products[118]. Shareholder and Management Information - The company reported a total of 720 million shares held prior to the IPO, with a commitment not to transfer or manage these shares for 12 months post-listing[131]. - The company has a lock-up period of 36 months for shares held prior to the IPO, during which no transfers or management by others are allowed[131]. - The company’s major shareholders include Nanjing Diweier and several individuals, with significant shares released from lock-up in 2021 and 2023[172]. - The total pre-tax compensation for the Chairman and General Manager, Zhang Li, was CNY 1.176 million[191]. - The total shares held by the Chairman and General Manager, Zhang Li, remained at 0 shares[191]. - The company has a total of 150.38 million shares under lock-up agreements, with various shareholders set to release shares on specified dates[173]. Operational Efficiency and Cost Management - The company is focusing on cost control and efficiency improvements as part of its "innovation and cost reduction" initiative[65]. - The company plans to implement cost-cutting measures that are expected to save $20 million annually[128]. - The company reported a 25% increase in operational efficiency due to recent technological upgrades[192]. - The management team has maintained a stable indirect shareholding structure, with no changes reported during the period[196]. Future Outlook - The company provided a revenue guidance of $1.5 billion for the next quarter, representing a 10% increase from the previous quarter[128]. - The company expects a revenue growth of 10% for the next fiscal year, projecting a total revenue of approximately 2,585 million[192]. - New product launches are anticipated to contribute an additional 5% to overall revenue in the upcoming quarter[192]. - The company is planning to expand its market presence in Southeast Asia, targeting a 25% increase in sales from this region over the next year[198]. - The company has outlined a positive outlook for the upcoming year, projecting a revenue growth of 20% for 2021[194].

Financial Performance - Revenue for the first nine months was CNY 564.82 million, a 5.81% increase compared to the same period last year[8]. - Net profit attributable to shareholders decreased by 14.73% year-on-year, totaling CNY 643.78 million[8]. - Basic earnings per share decreased by 15.69% to CNY 0.43 per share[9]. - The company experienced a 62% decline in net profit in Q3 compared to the same quarter last year, primarily due to significant exchange losses from the appreciation of the RMB and a decrease in gross margin due to the pandemic[14]. - Total operating revenue for Q3 2020 was ¥172,205,696.94, a decrease of 8.8% compared to ¥189,081,817.24 in Q3 2019[27]. - Net profit for Q3 2020 was ¥11,938,250.74, down 62.3% from ¥31,616,793.97 in Q3 2019[29]. - Basic earnings per share for Q3 2020 were ¥0.06, down from ¥0.22 in Q3 2019[30]. - The company reported a total profit of ¥12,731,758.36 for Q3 2020, a decrease of 65.0% from ¥36,377,213.81 in Q3 2019[28]. - Operating revenue for the first three quarters of 2020 was CNY 575,911,299.48, an increase of 7.9% compared to CNY 533,807,553.34 in the same period of 2019[31]. - Net profit for the third quarter of 2020 was CNY 12,734,790.26, a decrease of 61.2% from CNY 32,833,568.13 in the third quarter of 2019[32]. - Total operating profit for the first three quarters of 2020 was CNY 79,298,713.16, a decrease of 12% from CNY 90,055,446.36 in the same period of 2019[32]. Assets and Liabilities - Total assets increased by 60.53% year-on-year, reaching CNY 1,906.96 million at the end of the reporting period[8]. - Total liabilities decreased to ¥384,367,254.95 from ¥458,578,523.13, reflecting a reduction of approximately 16.2%[20]. - The total assets as of September 30, 2020, were ¥1,906,958,805.57, compared to ¥1,187,927,016.50 in December 2019, marking an increase of around 60.5%[21]. - The company's total equity attributable to shareholders rose to ¥1,507,276,518.00 from ¥713,073,954.28, representing an increase of approximately 111.1%[21]. - The total liabilities as of Q3 2020 were ¥385,708,885.02, compared to ¥431,497,966.92 in Q3 2019[24]. - The company’s total assets reached ¥1,916,232,645.96 in Q3 2020, compared to ¥1,165,608,979.54 in Q3 2019[24]. - Total liabilities amounted to CNY 458,578,523.13, with current liabilities at CNY 404,470,723.30 and non-current liabilities at CNY 54,107,799.83[42]. - The company’s total non-current liabilities were CNY 51,279,610.98, which includes long-term payables of CNY 26,117,509.66[46]. Cash Flow and Investments - Operating cash flow net amount rose by 78.08% year-on-year, totaling CNY 87.03 million[8]. - Cash flow from operating activities for the first three quarters of 2020 was CNY 600,174,958.02, an increase of 25.5% compared to CNY 477,933,979.21 in the same period of 2019[34]. - The company reported a net cash outflow from investing activities of CNY 614,816,502.62 for the first three quarters of 2020, compared to a net outflow of CNY 44,336,032.48 in the same period of 2019[35]. - Total cash inflow from financing activities reached ¥888,190,148.00, significantly up from ¥128,586,373.10 in the previous year[38]. - The net cash flow from financing activities was ¥634,044,171.34, compared to a negative net cash flow of -¥36,989,519.68 in the same period last year[38]. - The company reported a total of ¥799,112,140.00 in cash received from investment, indicating a strong capital influx[38]. Research and Development - R&D investment as a percentage of revenue increased by 1.52 percentage points to 5.21%[9]. - R&D expenses for Q3 2020 increased to ¥10,460,265.97, up 28.0% from ¥8,176,040.27 in Q3 2019[28]. - Research and development expenses for the first three quarters of 2020 were CNY 29,439,796.57, up 49.8% from CNY 19,692,516.82 in the same period of 2019[31]. - The company plans to continue investing in R&D to drive future growth despite the current decline in profits[28]. Shareholder Information - The total number of shareholders reached 15,243 by the end of the reporting period[12]. - The company completed its IPO in July 2020, resulting in a substantial increase in total assets and net assets attributable to shareholders[14].

Financial Performance - The company's operating revenue for the first half of 2020 was RMB 392.62 million, representing a 13.89% increase compared to RMB 344.73 million in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2020 was RMB 58.17 million, a 37.17% increase from RMB 42.41 million in the previous year[17]. - The basic earnings per share for the first half of 2020 was RMB 0.3984, up 37.14% from RMB 0.2905 in the same period last year[17]. - The company's net assets attributable to shareholders increased by 8.16% to RMB 771.25 million from RMB 713.07 million at the end of the previous year[17]. - The weighted average return on net assets for the first half of 2020 was 7.67%, an increase of 1.03 percentage points from 6.64% in the same period last year[17]. - The total assets of the company increased by 6.41% to RMB 1,264.03 million from RMB 1,187.93 million at the end of the previous year[17]. - The company reported a total revenue of CNY 46.8 million for the first half of 2020, with a net profit of CNY 19.9 million, representing a significant increase compared to previous periods[32]. - The company achieved a sales revenue of 393 million RMB, representing a year-on-year growth of 13.89%[43]. - The gross profit margin increased by 1 percentage point due to the rise in domestic oil and gas development investments and the rapid growth in demand for shale gas fracturing[49]. - The net profit for the first half of 2020 reached CNY 59,801,594.94, representing a growth of 35.5% from CNY 44,155,733.89 in the first half of 2019[110]. Research and Development - The company's R&D investment accounted for 4.83% of operating revenue, an increase of 1.49 percentage points from 3.34% in the previous year[17]. - The company holds 91 patents, including 33 invention patents, and has participated in the formulation of 7 national and industry standards[27]. - The company is currently working on two major R&D projects with total expected investments of 5,000,000.00 RMB and 12,000,000.00 RMB respectively[31]. - The company is actively involved in the localization research of underwater oil and gas production systems and unconventional shale gas fracturing equipment[27]. - The company has achieved significant progress in its R&D efforts, with several projects reaching the stage of obtaining phase results, including ultrasonic wave flaw detection technology[32]. - Research and development expenses rose significantly by 64.80%, accounting for 4.83% of sales, driven by investments in fracturing and deep-sea product technology[52]. - The company has 110 R&D personnel, accounting for 15.07% of the total workforce, with a total R&D salary of CNY 7.84 million and an average salary of CNY 71,251.89[34]. Market Position and Strategy - The company has established long-term strategic partnerships with major global oil and gas service companies, enhancing its industry position and reputation[20]. - The company has established long-term framework supply agreements with major clients, which helps stabilize market share[23]. - The company is actively expanding its market presence and product offerings, aiming to become a key player in the international market for specialized oil and gas equipment[40]. - The company is focusing on optimizing its production processes and enhancing operational efficiency through a robust management system[39]. - The company’s production model is based on customer orders, focusing on small batch and multi-variety production[24]. - The combined revenue from deep-sea and fracturing equipment components increased, becoming the main profit and growth points for the company[43]. Financial Position and Cash Flow - The net cash flow from operating activities was RMB 5.70 million, a significant decrease of 86.06% compared to RMB 40.90 million in the previous year[17]. - The company's cash and cash equivalents decreased by 24.85% to ¥99.17 million, compared to ¥131.97 million in the same period last year[54]. - Accounts receivable increased by 16.95% to ¥277.54 million, up from ¥237.31 million year-on-year[54]. - Prepayments surged by 251.98% to ¥15.81 million, indicating an increase in procurement prepayments[54]. - Inventory rose by 9.49% to ¥217.23 million, compared to ¥198.40 million in the previous year[54]. - Short-term borrowings increased by 28.37% to ¥120.67 million, up from ¥94.00 million year-on-year[54]. - The company reported a 97.55% increase in deferred income to ¥26.08 million, compared to ¥13.20 million in the same period last year[54]. - The total assets of the company at the end of the reporting period were ¥1.42 billion, with a significant portion being restricted assets totaling ¥368.45 million[56]. Compliance and Governance - The company did not distribute profits or increase capital reserves during the half-year period[63]. - The company has established strict compliance measures to ensure adherence to these commitments[65]. - The company emphasizes the importance of maintaining investor trust through these commitments and compliance measures[66]. - The company has retained the auditing firm for the 2020 fiscal year, as approved in the 2019 annual general meeting[76]. - There were no changes to the accounting firm during the reporting period, and no non-standard audit reports were issued[76]. - The company has complied with environmental regulations and has not faced penalties related to environmental protection during the reporting period[81]. Shareholder Commitments - The company commits to not reducing its holdings in the event of significant legal violations that could lead to delisting, until the stock is delisted[66]. - The company will compensate for any losses incurred by investors due to non-fulfillment of commitments[65]. - The management's commitments remain effective regardless of changes in their positions or departure from the company[66]. - The company has established a policy that allows for a maximum of 25% of shares to be transferred annually during the tenure of senior management[70]. - The company will not repurchase shares held by its management prior to the IPO[65]. - The company plans to implement a stock reduction plan to stabilize stock prices and meet operational and capital needs[73]. Accounting Policies - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[130]. - The company recognizes revenue based on specific accounting policies tailored to its production and operational characteristics[138]. - The company applies different accounting treatments for mergers under common control and those not under common control, impacting how assets and liabilities are measured[140]. - The company recognizes goodwill in non-common control mergers when the purchase price exceeds the fair value of identifiable net assets acquired[140]. - The company consolidates financial statements based on control, ensuring that all significant intercompany transactions are eliminated[141].