上海神开石油化工装备股份有限公司 投资者关系活动记录表 编号：2015-002 | --- | --- | --- | |------------|------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | 动类别 | 投资者关系活 | 特定对象调研 | | 及人员姓名 | 参与单位名称 | 长城国瑞证券 潘永乐、黄文忠 | | | | | | 时间 | | 2015 年 5 月 5 日 | | 地点 | | 神开股份 三楼小会议室 | | 人员姓名 | ...

Group 1: Industry Impact and Company Performance - The decline in oil prices is expected to reduce drilling activities, potentially decreasing demand for oil equipment. However, the impact on the company is relatively small due to stable market conditions for its main products and higher qualification requirements from clients, which may lead to increased industry concentration [1] - The company anticipates that despite pressure from the overall decline in the oil industry, its business will still maintain growth, supported by good order conditions in overseas markets and the performance boost from the acquisition of Hangzhou Fenghe in 2014 [1] - The company’s logging service team has not seen significant growth this year, but there may be an increase in directional well services, and there are considerations to establish a logging service team [2] Group 2: Project Developments and Market Strategy - The LWD project is progressing as planned and is expected to conclude this year [2] - MWD is a measurement tool used during drilling, while LWD differs by including more geological parameter measurements [2] - The company promotes its self-developed MWD products in the mid-to-low-end market, while it acts as the exclusive agent for the UK company Enteq in the high-end market [2] Group 3: Corporate Governance and Future Planning - The recent share reduction by major shareholders is attributed to the transfer of shares to their children, primarily for responsibility succession [2] - Although the previous equity incentive plan has been shelved, the company is considering alternative plans, such as employee stock ownership plans, to motivate employees [2] - The company’s future development is divided into three segments: existing manufacturing business, service sector, and energy sector. It aims to strengthen its manufacturing business while exploring opportunities to enter the energy sector due to low oil prices [2] Group 4: Client Base and Industry Focus - The company’s logging service business is primarily concentrated in regions such as Iraq, Venezuela, and Xinjiang, China [3] - The company is focused on oil equipment manufacturing and technical services, and it does not plan to blindly enter other industries in the short term [3]

Financial Performance - The company's operating revenue for the third quarter was ¥173,315,313.63, an increase of 4.93% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥8,921,656.89, a significant increase of 29,639.49% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥5,894,423.19, up 267.81% compared to the previous year[5]. - The basic earnings per share for the third quarter was ¥0.02, a 100% increase compared to the same period last year[5]. - Total operating revenue for the current period was CNY 393,849,779.10, a decrease of 19.3% compared to CNY 488,171,493.29 in the previous period[21]. - Net profit for the current period was CNY 9,461,855.95, a decline of 28.5% from CNY 13,200,953.87 in the previous period[22]. - Total comprehensive income attributable to the parent company decreased from 11,047,865.01 to 7,320,736.56, a decline of approximately 33%[23]. - Basic and diluted earnings per share both decreased to 0.01 from 0.03, reflecting a decline of 66.7%[23]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,717,882,626.15, a decrease of 3.01% from the end of the previous year[5]. - The total assets decreased to CNY 1,717,882,626.15 from CNY 1,771,255,995.61, indicating a reduction of 3.0%[20]. - Current liabilities totaled CNY 490,640,009.71, down from CNY 545,687,970.43, a decrease of 10.1%[20]. - The company maintained a stable equity position with total equity at CNY 1,182,150,785.91, slightly increasing from CNY 1,178,573,223.34[20]. Cash Flow - The cash flow from operating activities for the year-to-date was -¥66,291,527.83, a decrease of 0.45% year-on-year[5]. - Operating cash inflow increased to 465,871,649.97 from 377,272,280.24, representing a growth of about 23.4%[24]. - Net cash flow from operating activities remained negative at -66,291,527.83, slightly worsening from -65,994,909.72[24]. - Cash flow from investment activities showed a net outflow of -11,809,833.97, a significant decrease compared to a net inflow of 85,251,041.88 in the previous period[25]. - Cash inflow from investment activities decreased significantly to 302,460,284.51 from 481,901,481.96, a drop of about 37.3%[25]. - Net cash flow from financing activities improved slightly to -2,725,613.56 from -39,031,339.81, indicating a reduction in cash outflow[25]. Shareholder Information - As of September 30, 2022, the total number of common shareholders was 24,724, with no preferred shareholders[12]. - The top ten shareholders held a total of 13.07% (47,577,481 shares) by Jianhu County State-owned Assets Investment Management Co., Ltd.[12]. - The first phase of the employee stock ownership plan involved 165 employees, holding a total of 7,955,500 shares, representing 2.19% of the company's total equity[14]. - The company repurchased a total of 1,420,000 shares by September 30, 2022, accounting for 0.39% of the total equity, with a total transaction amount of 7,035,423.45[16]. - The highest transaction price for the repurchased shares was 4.99, and the lowest was 4.86[16]. Operational Highlights - The company reported a significant increase in government subsidies, with operating income from government support rising by 81.88% year-on-year[10]. - The company’s short-term borrowings increased by 63.50% to ¥85,091,539.34 compared to the beginning of the year[10]. - The company’s construction in progress increased by 245.03% to ¥5,879,642.77 due to ongoing renovation projects[10]. - The company reported a significant increase in research and development expenses, totaling CNY 42,818,049.63, up from CNY 37,755,128.25, representing a growth of 13.7%[22]. - The company plans to focus on market expansion and new product development in the upcoming quarters[22]. Expense Management - The company reported a significant decrease in sales expenses, which were CNY 31,911,680.73 compared to CNY 34,600,076.49, a reduction of 7.8%[22]. - The company's cash and cash equivalents showed a decline, impacting liquidity ratios negatively[20]. - As of September 30, 2022, cash and cash equivalents amounted to 155,597,206.90, down from 221,127,044.97 at the beginning of the year[18]. - Accounts receivable as of September 30, 2022, was 424,220,621.57, compared to 494,589,808.69 at the beginning of the year[18]. - Trading financial assets increased to 56,039,432.28 as of September 30, 2022, from 45,911,141.41 at the beginning of the year[18].

Financial Performance - The company's operating revenue for the first half of 2022 was ¥220,534,465.47, a decrease of 31.72% compared to ¥322,992,787.70 in the same period last year[21]. - The net profit attributable to shareholders was a loss of ¥4,738,059.47, representing a decline of 141.99% from a profit of ¥11,284,160.97 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥13,019,926.54, a significant drop of 1,224.96% compared to a profit of ¥1,157,371.76 in the same period last year[21]. - The basic and diluted earnings per share were both -¥0.01, a decrease of 133.33% from ¥0.03 in the same period last year[21]. - The weighted average return on net assets was -0.43%, down 1.43% from 1.00% in the previous year[21]. - The company reported a decrease in cash flow from operating activities, leading to a net cash outflow of CNY 1.35 million in the first half of 2022[134]. - The net cash flow from operating activities for the first half of 2022 was -CNY 30,186,349.91, an improvement from -CNY 47,104,764.19 in the first half of 2021[141]. - The company reported a total comprehensive income of CNY 31,517,631 for the current period[158]. Revenue Breakdown - Revenue from the manufacturing sector dropped by 44.58% to ¥152,569,607.85, accounting for 69.18% of total revenue[42]. - The revenue from oil drilling equipment decreased by 40.57% to ¥93,292,409.59, representing 42.30% of total revenue[42]. - The revenue from other services increased by 42.51% to ¥67,964,857.62, driven by growth in the logging service business[42][44]. - Domestic revenue fell by 32.10% to ¥198,338,159.03, while overseas revenue decreased by 28.16% to ¥22,196,306.44[42]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,711,243,810.65, down 3.39% from ¥1,771,255,995.61 at the end of the previous year[21]. - The net assets attributable to shareholders decreased by 1.97%, amounting to ¥1,086,357,335.13 compared to ¥1,108,181,382.25 at the end of the previous year[21]. - The company's total assets at the end of the reporting period were 4.7 billion yuan, with total liabilities of 2.2 billion yuan, resulting in a debt-to-asset ratio of approximately 46.8%[150]. - Total liabilities decreased to ¥550,482,697.52 from ¥592,682,772.27, a decline of approximately 7.12%[128]. Research and Development - The company's R&D investment increased by 14.26% to ¥26.07 million from ¥22.82 million year-on-year, reflecting a commitment to innovation despite challenging market conditions[41]. - Research and development expenses for the first half of 2022 amounted to 100 million yuan, accounting for 7.1% of total revenue[150]. Market Strategy and Expansion - The company has extended its overseas layout, actively seeking to expand its market share in key international markets amidst recovering upstream capital expenditures[37]. - The company is actively expanding into the renewable energy sector to mitigate competition risks arising from the global shift towards low-carbon energy systems[61]. - The company plans to expand its market presence by increasing investment in new product development and technology innovation[150]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[150]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the semi-annual period[68]. - The company completed its first share repurchase plan, acquiring 10,000,000 shares, representing 2.75% of the total share capital, at a total cost of approximately RMB 62.53 million[108]. - The company has a total of 19,725 common shareholders as of the report date[113]. - Major shareholder Shanghai Yixiang Investment Management Co., Ltd. holds 42,000,000 shares, representing 13.07% of the total share capital, with shares pledged and frozen[113]. Financial Management - The company is strategically managing foreign exchange risks due to its international operations, which involve transactions in foreign currencies[63]. - The company’s financial expenses showed a significant improvement, with a net income of CNY 282,518.24 in the first half of 2022 compared to a loss of CNY 125,933.44 in the first half of 2021[136]. - The company has entrusted CNY 12,100 million in bank financial products, with an occurrence amount of CNY 11,940 million and no overdue amounts[101]. Compliance and Governance - The financial statements were approved by the board of directors on August 20, 2022, ensuring compliance with accounting standards[162]. - The company has evaluated its ability to continue as a going concern for the next 12 months and found no significant doubts[163]. - The semi-annual financial report has not been audited[124]. Operational Highlights - The company achieved a crude oil production of 10,289 million tons and natural gas production of 1,096 billion cubic meters, representing year-on-year growth of 4% and 4.9% respectively, driven by national energy strategies[32]. - The company has optimized its supply chain management, enhancing its competitive capabilities and ensuring stable production during the pandemic[36]. - The company has successfully developed several new products, including the PILS-X high-temperature and high-pressure measurement system, filling multiple domestic gaps and receiving positive user feedback[38].

Financial Performance - The company's operating revenue for 2021 was ¥775,428,800.53, representing a 6.78% increase compared to ¥726,160,599.32 in 2020[19] - The net profit attributable to shareholders for 2021 was ¥42,980,294.18, a significant increase of 51.42% from ¥28,383,896.18 in 2020[19] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 22,295,022.14, an increase of 474.41% compared to CNY 3,881,382.01 in the previous year[20] - The net cash flow from operating activities decreased by 41.59% to CNY 55,316,832.18 from CNY 94,700,244.67 in the previous year[20] - Basic and diluted earnings per share increased by 53.85% to CNY 0.120 from CNY 0.078 in the previous year[20] - Total assets increased by 2.90% to CNY 1,771,255,995.61 from CNY 1,721,294,232.89 at the end of the previous year[20] - The net assets attributable to shareholders decreased by 2.77% to CNY 1,108,181,382.25 from CNY 1,139,717,479.89 at the end of the previous year[20] - The total operating costs increased by 11.66% to ¥407,046,903.06, with material costs rising by 14.43%[60] - The company reported a 40.93% decrease in income from funds occupied due to repayments from related parties[58] Revenue Breakdown - The manufacturing sector contributed 629.91 million yuan, accounting for 81.23% of total revenue, with a 4.12% increase year-on-year[54] - The oil drilling equipment segment generated 376.87 million yuan, making up 48.60% of total revenue, with a 13.26% increase from the previous year[54] - The revenue from the rental and property management segment increased by 122.73% year-on-year, attributed to the leasing of previously vacant properties[58] - The company's domestic revenue increased by 10.63% to 698.33 million yuan, while overseas revenue decreased by 18.77% to 77.10 million yuan[54] Market and Industry Insights - The oil and gas industry is entering a rapid growth phase, supported by national strategies emphasizing energy security and low-carbon transitions[32] - In 2021, China's oil production reached 199 million tons, an increase of over 2%, while natural gas production exceeded 200 billion cubic meters, growing by over 10%[33] - The domestic oil demand in 2021 was 70.716 million tons, a decrease of 2.47 million tons from 2020, but is expected to rise to 73.5 million tons in 2022, an increase of 2.784 million tons[33] Product Development and Innovation - The company’s main products include comprehensive logging instruments, drilling instruments, blowout preventers, and oil product specification analyzers, focusing on oil exploration, drilling, and refining[36] - The company achieved a significant increase in sales revenue for logging instruments in 2021, with a notable growth in market recognition for new product developments[40] - The company successfully entered the European high-end market despite challenges posed by the pandemic, enhancing its market cooperation with major clients like PetroChina and Sinopec[37] - The company expanded its product offerings, successfully launching the "Haoyue" gasoline octane value tester and breaking into the Singapore market, with exports to Russia[41] - The company has developed a new continuous blowout preventer for unconventional oil and gas field operations, filling a domestic gap and breaking foreign monopolies[50] Corporate Governance and Structure - The company has no controlling shareholder or actual controller as per the latest legal opinions[18] - The company maintains a complete governance structure with a clear separation from any major shareholders' influence[114] - The company has established a comprehensive corporate governance structure to protect shareholder rights and ensure transparent information disclosure[155] - The management team is fully dedicated to the company, with no conflicts of interest from external positions[112] Risk Management - The company faces risks from global energy transitions, with non-fossil energy expected to rise from 15% to 30% by 2050, potentially impacting oil demand[97] - Oil price volatility poses a significant risk, as the company's performance is closely tied to the capital expenditures of oil and gas companies[98] - Currency exchange rate fluctuations may affect profitability, with plans to use financial instruments to hedge against these risks[99] - The company is exposed to various uncontrollable risks, including geopolitical issues and natural disasters, which could impact client relationships and order fulfillment[100] Employee and Talent Management - The company’s R&D personnel increased to 145 in 2021, representing a 10.69% growth compared to 131 in 2020, with the proportion of R&D personnel rising to 18.90% from 17.49%[70] - The company has established a strong foundation in human resources management, with key personnel holding significant experience in the industry[123] - The company has implemented a "position-level salary and assessment management method" and an "employee stock ownership plan" to enhance employee motivation and performance[138] - The company plans to conduct tiered and categorized talent development and training to support its goal of building first-class products and a first-class talent team[139] Financial Management and Investments - The company has invested CNY 18,464.22 million in bank wealth management products, with an outstanding balance of CNY 4,580 million[186] - The company has no significant equity or non-equity investments during the reporting period[80][81] - The company did not engage in any securities or derivative investments during the reporting period[82][83] - The company has not undergone any bankruptcy restructuring during the reporting period[168] Shareholder Information - The total number of shares is 363,909,648, with 92.64% being unrestricted shares[192] - The largest shareholder, Shanghai Yixiang Investment Management Co., Ltd., holds 13.07% of the shares, totaling 47,577,481 shares[195] - The company has no controlling shareholder or actual controller, confirming its independent ownership structure[197] - The total number of ordinary shareholders at the end of the reporting period was 16,049, a decrease from 16,922 at the end of the previous month[195]

上海神开石油化工装备股份有限公司 2022 年第一季度报告全文 上海神开石油化工装备股份有限公司 2022 年第一季度报告 证券简称：神开股份 证券代码：002278 2022 年 4 月 上海神开石油化工装备股份有限公司 2022 年第一季度报告全文 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、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。 2.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)声明：保证季度报告中财务信息的真实、准确、完整。 3.第一季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 99,753,310.26 | 146,142,913.45 | -31.74% | | 归属于上市公司股东的净利润（元） | -12,614,306.71 | 3,453,584.36 | -465 ...

Financial Performance - The company's operating revenue for 2021 was ¥775,428,800.53, representing a 6.78% increase compared to ¥726,160,599.32 in 2020[19]. - The net profit attributable to shareholders of the listed company was ¥42,980,294.18, a significant increase of 51.42% from ¥28,383,896.18 in 2020[19]. - The company reported a slight decrease in revenue compared to 2019, which was ¥785,239,502.08[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥22,295,022.14, an increase of 474.41% compared to the previous year[20]. - Basic and diluted earnings per share increased by 53.85% to ¥0.120[20]. - Total assets at the end of 2021 were ¥1,771,255,995.61, a 2.90% increase from the previous year[20]. - The net assets attributable to shareholders decreased by 2.77% to ¥1,108,181,382.25[20]. - The company achieved a total revenue of 775.43 million yuan in 2021, representing a year-on-year increase of 6.78% compared to 726.16 million yuan in 2020[54]. - Net profit for 2021 was 42.98 million yuan, showing growth from the previous year[48]. - The manufacturing sector contributed 629.91 million yuan, accounting for 81.23% of total revenue, with a 4.12% increase from 604.96 million yuan in 2020[54]. Cash Flow and Investments - The net cash flow from operating activities decreased by 41.59% to ¥55,316,832.18 from ¥94,700,244.67 in the previous year[20]. - The total cash inflow from investment activities increased by 30.52% to ¥594,166,022.77 in 2021, while cash outflow decreased by 10.31% to ¥497,149,131.41[71]. - The net cash flow from financing activities turned negative at -¥52,822,559.74 in 2021, a significant decline of 203.75% compared to a positive net flow of ¥50,915,373.35 in 2020[71]. - The company's cash and cash equivalents increased by 119.27% to ¥98,342,443.49 in 2021, compared to ¥44,849,909.05 in 2020[71]. - The total distributable profit for the reporting period was 244,933,522.58 CNY[142]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of ¥0.50 per 10 shares, based on a total of 363,909,648 shares[5]. - The company implemented a cash dividend policy, distributing a cash dividend of 0.50 CNY per share (including tax), with a total cash dividend amounting to 18,195,482.40 CNY, representing 100% of the total profit distribution[142]. - The company has a profit distribution policy stating that cash dividends should account for at least 30% of the average distributable profit over any three consecutive years, with a minimum of 80% during the mature stage[143]. Market and Industry Position - The company operates in the specialized equipment manufacturing sector, specifically in oil and gas equipment and services, which is crucial for the industry’s growth[31]. - The oil and gas industry is entering a rapid growth phase, supported by national strategies emphasizing energy security and low-carbon transitions[32]. - The company successfully entered the European high-end market despite challenges posed by the pandemic, enhancing its market presence[37]. - The company was recognized as a national-level "specialized, refined, and innovative" small giant enterprise, indicating its strong market position and growth potential[38]. - The company maintains a leading position in the domestic oil equipment industry, providing a full range of services across the exploration, drilling, and refining sectors[42]. Research and Development - The company’s R&D personnel increased to 145 in 2021, a rise of 10.69% from 131 in 2020, with the proportion of R&D personnel in total employees increasing by 1.41 percentage points to 18.90%[68]. - R&D investment amounted to ¥60,378,773.46 in 2021, a decrease of 3.75% from ¥62,731,952.47 in 2020, with R&D investment as a percentage of operating revenue declining by 0.85 percentage points to 7.79%[68]. - The company is focused on enhancing its product offerings and technological advancements in the oil and gas equipment sector[128]. - The company is positioned to transform from a core equipment provider to an integrated solution provider in the oil field sector[88]. Corporate Governance and Management - The company is committed to maintaining high standards of corporate governance and transparency in its operations[119]. - The company has established a sound corporate governance structure to protect shareholder rights and ensure transparent information disclosure[155]. - The management team includes experienced professionals with backgrounds in engineering, finance, and management, contributing to the company's strategic direction[121]. - The company has not faced any penalties from securities regulatory authorities for its directors and senior management in the past three years[125]. Risks and Challenges - The company faces risks from global energy transitions, with non-fossil energy expected to rise from 15% to 30% by 2050, potentially impacting oil demand[96]. - Oil price volatility poses a significant risk, as the company's performance is closely tied to the capital expenditures of oil and gas companies[97]. - Currency exchange rate fluctuations may affect profitability, with plans to use financial instruments to hedge against these risks[98]. - The company is exposed to force majeure risks, including geopolitical issues and natural disasters, which could disrupt operations and customer relationships[99]. Employee and Talent Management - The total number of employees at the end of the reporting period is 767, with 81 in the parent company and 686 in major subsidiaries[136]. - The company has implemented a "position-level salary and assessment management method" and an "employee stock ownership plan" to enhance employee motivation and performance[138]. - The company plans to conduct tiered and categorized talent development and training to support its annual business goals and three-year development plan[139]. Environmental and Social Responsibility - The report includes a section on environmental and social responsibility, indicating the company's commitment to sustainable practices[5]. - The company has not faced any administrative penalties for environmental issues during the reporting period and is not classified as a key pollutant discharge unit[154].

Financial Performance - The company's operating revenue for the third quarter was ¥165,178,705.59, a decrease of 7.43% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥30,202.47, representing a decline of 100.27% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥3,512,600.24, a decrease of 151.90% compared to the previous year[2]. - Operating revenue for the current period was ¥488,171,493.29, down from ¥497,306,151.40 in the previous period, reflecting a decrease of approximately 1.14%[24]. - Operating profit decreased to ¥16,667,387.84 from ¥27,752,827.20, a decline of about 40.00%[25]. - Net profit for the current period was ¥13,200,953.87, down from ¥18,678,575.81, indicating a decrease of approximately 29.20%[25]. - Total comprehensive income for the period was CNY 12,994,860.38, down from CNY 17,705,287.02 in the previous period, representing a decrease of approximately 26.5%[26]. - Basic and diluted earnings per share both decreased to CNY 0.03 from CNY 0.05, reflecting a decline of 40%[26]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,620,901,271.34, down 5.83% from the end of the previous year[3]. - The equity attributable to shareholders decreased to ¥1,074,127,425.84, a decline of 5.75% year-on-year[3]. - Total liabilities decreased from ¥511,334,261.48 to ¥476,834,358.61, a reduction of about 6.71%[22]. - The company’s total equity decreased from ¥1,209,959,971.41 to ¥1,144,066,912.73, a decline of about 5.42%[22]. - As of September 30, 2021, total current assets decreased to ¥1,138,618,124.64 from ¥1,211,312,352.95 as of December 31, 2020, representing a decline of approximately 6.03%[20]. Cash Flow - The cash flow from operating activities showed a net outflow of -¥65,994,909.72, a decrease of 201.97% compared to the previous year[2]. - Cash flow from operating activities decreased by 201.97% to -¥65,994,909.72, indicating a reduction in cash inflows from sales and other business activities[11]. - Net cash flow from operating activities was negative at CNY -65,994,909.72, compared to CNY -21,854,590.64 in the previous period, indicating a worsening cash flow situation[29]. - Total cash outflow from operating activities was CNY 443,267,189.96, slightly up from CNY 434,598,508.06 in the previous period[29]. - Cash inflow from investment activities increased significantly to CNY 481,901,481.96 from CNY 271,231,317.61, marking an increase of approximately 77.6%[29]. - Cash flow from investing activities improved by 294.27% to ¥85,251,041.88, primarily due to higher redemptions of financial products compared to the previous year[11]. - Net cash flow from financing activities was negative at CNY -39,031,339.81, a decline from a positive CNY 42,659,822.59 in the previous period[30]. Shareholder Information - The company’s total share capital as of the last trading day before disclosure was 363,909,648 shares[3]. - The total number of ordinary shareholders at the end of the reporting period was 16,193[13]. - The top shareholder, Shanghai Yixiang Investment Management Co., Ltd., holds 13.07% of shares, amounting to 47,577,481 shares[13]. - The company repurchased shares, resulting in a cash outflow of ¥39,031,339.81 from financing activities, reflecting a 191.49% decrease[11]. - The company plans to repurchase between 8,187,967 and 16,375,934 shares at a price not exceeding ¥8.60 per share, totaling up to ¥140,833,034[15]. - The company repurchased a total of 10,000,000 shares, accounting for 2.75% of the total share capital, with a total transaction amount of ¥62,527,566.35[17]. Other Financial Metrics - Research and development expenses decreased to ¥37,755,128.25 from ¥44,652,086.09, a reduction of approximately 15.48%[25]. - The company reported a significant increase in asset disposal gains by 463.09% to ¥3,192,388.54 compared to the same period last year[10]. - The company reported a significant increase of 163.18% in receivables financing, amounting to ¥12,623,695.10, due to an increase in high-value acceptance bills[9]. - Prepayments increased by 141.44% to ¥20,239,075.77 compared to the beginning of the year, attributed to increased prepayments for engineering and equipment[10]. - Other receivables rose by 35.62% to ¥21,356,732.93, mainly due to an increase in various deposits[10]. - Investment properties increased by 81.77% to ¥84,429,112.65, resulting from the transfer of construction projects in Hangzhou Fenghe[10]. - The company received CNY 3,115,568.74 in tax refunds, down from CNY 10,876,426.95 in the previous period, a decrease of about 71.4%[29]. - The company did not adjust the beginning balance sheet items due to the new leasing standards, as there was no significant impact on prior financial metrics[31].

Financial Performance - The company's operating revenue for the first half of 2021 was ¥322,992,787.70, representing a 1.29% increase compared to ¥318,868,754.26 in the same period last year[22]. - The net profit attributable to shareholders of the listed company was ¥11,284,160.97, a significant increase of 65.26% from ¥6,827,923.87 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was ¥1,157,371.76, compared to a loss of ¥3,880,453.11 in the same period last year, marking a 129.83% improvement[22]. - The basic earnings per share increased by 50.00% to ¥0.03 from ¥0.02 in the previous year[22]. - The company achieved operating revenue of 322.99 million yuan and a net profit of 11.28 million yuan in the first half of 2021, both showing growth compared to the same period last year[36]. - The company's gross profit margin for the manufacturing sector was 33.63%, a decrease of 3.39% compared to the previous year[45]. - The net profit for the first half of 2021 was CNY 12,776,830.97, compared to CNY 7,647,866.03 in the same period of 2020, reflecting a growth of approximately 67.8%[129]. - The total comprehensive income for the first half of 2021 was CNY 31,517,631.32, compared to CNY 29,079,786.92 in the same period of 2020, reflecting an increase of approximately 8.3%[133]. Assets and Liabilities - The total assets at the end of the reporting period were ¥1,593,051,260.08, a decrease of 7.45% from ¥1,721,294,232.89 at the end of the previous year[22]. - The net assets attributable to shareholders of the listed company decreased by 6.08% to ¥1,070,457,793.65 from ¥1,139,717,479.89 at the end of the previous year[22]. - The company's total liabilities reached CNY 116,847,851.35, up from CNY 45,354,392.07 in the previous year, indicating a significant increase[126]. - The total equity decreased to CNY 942,360,215.27 from CNY 991,053,419.68, showing a decline of about 4.9%[126]. - The company reported a significant reduction in accounts payable, which fell to CNY 252,718,091.11 from CNY 290,980,820.67, a decrease of approximately 13.1%[121]. Cash Flow - The net cash flow from operating activities was negative at -¥47,104,764.19, worsening by 77.44% compared to -¥26,547,447.61 in the same period last year[22]. - Cash inflow from operating activities amounted to CNY 271,949,010.76, up from CNY 263,106,778.06 in the first half of 2020, indicating a growth of about 3.5%[136]. - The net cash flow from investment activities was CNY 124,856,905.02, a turnaround from CNY -11,808,113.24 in the same period last year[136]. - Cash and cash equivalents at the end of the period reached CNY 143,394,552.00, up from CNY 52,829,080.66 at the end of the first half of 2020, marking an increase of about 171.5%[137]. Dividends and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The first phase of the employee stock ownership plan was completed, with 10,000,000 shares transferred at a price of ¥3.16 per share, enhancing the cohesion of the core management team[38]. - The total number of shares is 363,909,648, with 92.64% being unrestricted shares[101]. - The company repurchased a total of 10,000,000 shares, accounting for 2.75% of the total share capital, with a total transaction amount of RMB 62,527,566.35[104]. Market and Industry Position - The company has focused on the research, manufacturing, and sales of petrochemical instruments and equipment, with major products including comprehensive logging instruments and drilling equipment[29]. - The international oil price has significantly increased, with Brent and WTI crude oil prices both surpassing $70 per barrel, positively impacting the company's business environment[31]. - The company is positioned as a key player in the domestic petrochemical equipment industry, maintaining a leading technical level in several products[34]. - The company is committed to expanding its market presence globally to reduce reliance on any single market and mitigate geopolitical risks[63]. Research and Development - The company's R&D investment decreased by 10.49% to ¥22,817,777.76 from ¥25,492,666.66 in the previous year[42]. - The company successfully developed a new continuous tubing blowout preventer for unconventional oil and gas field operations, filling a domestic gap and breaking foreign monopolies[37]. - The company plans to focus on the development of hydrogen energy technologies as part of its long-term strategy to adapt to the global energy transition[61]. Risk Management - The company is exposed to oil price volatility risks, which could significantly impact its operating performance if oil prices remain low[61]. - The company is actively responding to the challenges posed by rising raw material prices and is enhancing its risk management strategies[36]. - The company is also addressing foreign exchange risks by utilizing financial instruments to hedge against currency fluctuations[62]. Governance and Compliance - The financial statements were approved by the board of directors on August 21, 2021, indicating a structured governance process[158]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[71]. - There were no significant lawsuits or arbitration matters during the reporting period[81]. - The company has not engaged in any related party transactions during the reporting period[83]. Accounting Policies - The accounting policies and estimates are tailored to the company's operational characteristics, ensuring compliance with relevant accounting standards[162]. - The company prepares consolidated financial statements based on its own and subsidiaries' financial reports, reflecting the overall financial status, operating results, and cash flows of the entire corporate group[173].

Financial Performance - The company's operating revenue for Q1 2021 was ¥146,142,913.45, a decrease of 0.31% compared to the same period last year[8] - Net profit attributable to shareholders was ¥3,453,584.36, representing a significant increase of 222.95% year-on-year[8] - The net profit after deducting non-recurring gains and losses was ¥130,190.42, up 101.55% from the previous year[8] - The basic earnings per share for the period was ¥0.009, a 200% increase compared to a loss of ¥0.008 in the same quarter last year[8] - The company reported a net profit of CNY 227,688,862.31, compared to CNY 224,235,277.95 from the previous period, showing a slight increase of 2.45%[34] - The company reported a net profit attributable to shareholders for the first half of 2021 is projected to be between RMB 1,000,000 and RMB 1,500,000, representing a growth of 46.46% compared to the previous year[22] - The basic earnings per share are expected to increase by 46.46% from RMB 0.02 to RMB 0.03[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,632,671,672.71, down 5.15% from the end of the previous year[8] - The net assets attributable to shareholders decreased by 1.72% to ¥1,120,117,207.79 compared to the end of the previous year[8] - Total liabilities decreased to CNY 441,545,894.46 from CNY 511,334,261.48, a reduction of 13.63%[33] - Shareholders' equity totaled CNY 1,191,125,778.25, down from CNY 1,209,959,971.41, reflecting a decrease of 1.48%[34] - The total liabilities decreased to CNY 43,069,834.77 from CNY 45,354,392.07, reflecting a reduction of 5.03%[41] - Owner's equity totaled CNY 961,448,302.54, down from CNY 991,053,419.68, a decrease of 2.99%[41] Cash Flow - The company reported a net cash flow from operating activities of -¥41,109,093.53, which is a decline of 11.34% year-on-year[8] - The company's operating cash flow for the first quarter was negative at -41,109,093.53 CNY, compared to -36,922,598.61 CNY in the same period last year, indicating a decline in cash generation from operations[48] - The total cash outflow from operating activities was 178,375,734.88 CNY, compared to 161,076,970.85 CNY in the previous year, showing an increase in operational expenditures[48] - The company received 241,947,615.84 CNY from the recovery of investments, a significant rise from 61,510,000.00 CNY in the previous year, indicating strong investment recovery efforts[49] - The ending cash and cash equivalents balance increased to 134,754,335.87 CNY from 60,828,939.71 CNY year-over-year, demonstrating improved liquidity[49] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,148[11] - The largest shareholder, Shanghai Yixiang Investment Management Co., Ltd., held 13.07% of the shares, amounting to 47,577,481 shares[11] Investment Activities - The net cash flow from investment activities surged by 1898.64% from RMB 4,301,682.92 to RMB 85,975,044.82, primarily due to the redemption of bank wealth management products exceeding the purchase amount[16] - Total cash inflow from investment activities was 245,052,963.00 CNY, significantly higher than 61,683,434.84 CNY in the previous year, reflecting a strong recovery in investment receipts[49] Operational Efficiency - The company is focusing on enhancing its operational efficiency and exploring new market opportunities for future growth[27] - The company reported an operating profit of CNY 6,664,470.73, a significant improvement from an operating loss of CNY 4,624,964.83 in the previous year[41] Costs and Expenses - Total operating costs decreased by 5.33% to CNY 142,854,485.82 from CNY 150,855,379.87[40] - The company reported a 222.89% increase in taxes and surcharges from RMB 331,511.58 to RMB 1,070,405.59 due to higher tax burdens compared to the same period last year[16] - The company’s financial expenses decreased by 98.74% from RMB -1,230,671.09 to RMB -15,485.47, influenced by exchange rate fluctuations[16] - Research and development expenses were CNY 10,649,329.35, slightly down from CNY 11,811,109.12, indicating a focus on cost management[41] Other Information - The company has no overdue commitments or guarantees during the reporting period[19] - The company has no significant securities or derivative investments during the reporting period[20][21] - The company has not engaged in any research, communication, or interview activities during the reporting period[27]