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：2014-009 | --- | --- | --- | |----------------------------|------------------------------------------------------------------------------|-------| | 投资者关系活 \n动类别 | 特定对象调研 | | | 参与单位名称 | 嘉实基金 孟夏；民生证券 朱旭光；浙商基金 吴昊； 诺 | | | 及人员姓名 | 德基金 朱红 | | | 时间 | 2014 年 8 月 27 日 9：00-12：00 | | | 地点 | 神开股份 三楼小会议室 | | | 上市公司接待 | 董事会秘书顾冰，战略发展部助理沈晨 | | | 人员姓名 | | | | | | | | 投资者关系活动主要内容介绍 | | | | 1. 公司中报的亮点？ | | | | | 由于今年石油行业大环境的影响，总体行业情况不太乐观，国内订单减少。但是公司海 | | | | 外订单的增加是公司今年业绩的一大亮点，尤其是俄罗斯市场的订单和美国井 ...

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]

[Important Notice](index=2&type=section&id=Important%20Notice) The board, supervisory board, and senior management guarantee the report's truthfulness, while financial officers confirm financial data accuracy; this report is unaudited - The board of directors, supervisory board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report[4](index=4&type=chunk) - The company's head, chief accountant, and head of accounting department declare the financial information is true, accurate, and complete[4](index=4&type=chunk) - This first quarter report is unaudited[4](index=4&type=chunk) [Key Financial Data](index=2&type=section&id=Key%20Financial%20Data) [Key Accounting Data and Financial Indicators](index=2&type=section&id=(I)%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Q1 2022 performance was poor, with revenue down 31.74%, net profit turning to loss by 465.25%, and operating cash flow significantly deteriorating Q1 2022 Key Accounting Data and Financial Indicators (YoY) | Indicator | Current Period (CNY) | Prior Year Same Period (CNY) | Change from Prior Year Same Period | | :--- | :--- | :--- | :--- | | Operating Revenue | 99,753,310.26 | 146,142,913.45 | -31.74% | | Net Profit Attributable to Shareholders of the Listed Company | -12,614,306.71 | 3,453,584.36 | -465.25% | | Net Profit Attributable to Shareholders of the Listed Company Excluding Non-Recurring Gains and Losses | -15,009,911.21 | 130,190.42 | -11,629.20% | | Net Cash Flow from Operating Activities | -67,575,035.08 | -41,109,093.53 | -64.38% | | Basic Earnings Per Share (CNY/share) | -0.035 | 0.009 | -488.89% | | Diluted Earnings Per Share (CNY/share) | -0.035 | 0.009 | -488.89% | | Weighted Average Return on Net Assets | -1.14% | 0.35% | -1.49% | Q1 2022 End-of-Period Key Balance Sheet Indicators (vs. End of Previous Year) | Indicator | End of Current Period (CNY) | End of Prior Year (CNY) | Change from End of Prior Year | | :--- | :--- | :--- | :--- | | Total Assets | 1,693,992,231.90 | 1,771,255,995.61 | -4.36% | | Owners' Equity Attributable to Shareholders of the Listed Company | 1,098,953,056.78 | 1,108,181,382.25 | -0.83% | [Non-Recurring Gains and Losses Items and Amounts](index=2&type=section&id=(II)%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Non-recurring gains and losses totaled **CNY 2,395,604.50** this period, mainly from asset disposal, government subsidies, and bank wealth management, positively impacting net profit Q1 2022 Non-Recurring Gains and Losses Items and Amounts | Item | Amount for Current Period (CNY) | Explanation | | :--- | :--- | :--- | | Gains or losses from disposal of non-current assets | 177,785.38 | Gains from disposal of fixed assets in the reporting period | | Government subsidies recognized in current profit or loss | 2,132,164.54 | Primarily various government subsidies obtained and recognized in profit or loss during the reporting period | | Investment income from disposal of trading financial assets, trading financial liabilities, and available-for-sale financial assets | 428,805.07 | Primarily bank wealth management income in the reporting period | | Other non-operating income and expenses | -66,634.58 | | | Less: Income tax impact | 267,910.21 | | | Less: Impact on minority interests (after tax) | 8,605.70 | | | **Total** | **2,395,604.50** | -- | [Changes and Reasons for Key Accounting Data and Financial Indicators](index=3&type=section&id=(III)%20Changes%20and%20Reasons%20for%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Key metrics across financial statements changed significantly due to reduced sales from COVID-19, exchange rate fluctuations, wealth management redemptions, and increased interest expenses [Balance Sheet Item Changes and Reasons](index=3&type=section&id=Balance%20Sheet%20Item%20Changes%20and%20Reasons) Trading financial assets decreased due to wealth management redemptions, prepayments and construction in progress increased, while employee compensation and taxes payable decreased due to payments Balance Sheet Key Item Changes (End of Period vs. Beginning of Year) | Statement Item | March 31, 2022 (CNY) | January 1, 2022 (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Trading Financial Assets | 24,571,113.90 | 45,911,141.41 | -46.48% | | Prepayments | 15,825,074.91 | 8,099,612.59 | 95.38% | | Construction in Progress | 4,393,946.07 | 1,704,083.25 | 157.85% | | Employee Compensation Payable | 1,994,090.90 | 10,078,462.72 | -80.21% | | Taxes Payable | 14,258,011.56 | 31,513,841.59 | -54.76% | - Trading financial assets decreased by **46.48%**, primarily due to fewer unredeemed bank wealth management products at the end of the period compared to the beginning of the year[9](index=9&type=chunk) - Prepayments increased by **95.38%**, mainly due to increased prepayments to suppliers at the end of the period compared to the beginning of the year[10](index=10&type=chunk) - Employee compensation payable decreased by **80.21%**, primarily due to the payment of employee salaries and Chinese New Year bonuses accrued at the beginning of the year[10](index=10&type=chunk) [Income Statement Item Changes and Reasons](index=4&type=section&id=Income%20Statement%20Item%20Changes%20and%20Reasons) Operating revenue and costs declined due to pandemic-related sales reductions, financial expenses surged from exchange rate changes and interest, while investment and asset disposal gains decreased Income Statement Key Item Changes (YoY) | Statement Item | January-March 2022 (CNY) | January-March 2021 (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Operating Revenue | 99,753,310.26 | 146,142,913.45 | -31.74% | | Operating Costs | 67,683,998.88 | 97,693,049.60 | -30.72% | | Financial Expenses | 1,506,922.50 | -15,485.47 | 9831.20% | | Investment Income | 368,832.58 | 1,370,347.16 | -73.08% | | Gains from Changes in Fair Value | 59,972.49 | -585,262.87 | 110.25% | | Credit Impairment Losses | 1,439,016.09 | -74,059.67 | -2043.05% | | Gains from Asset Disposal | 177,785.38 | 1,086,753.24 | -83.64% | | Income Tax Expense | 854,846.81 | 2,420,889.50 | -64.69% | | Exchange Differences on Translation of Foreign Currency Financial Statements | -123,276.36 | 236,668.34 | -152.09% | - Both operating revenue and operating costs decreased, primarily due to reduced sales orders impacted by the COVID-19 pandemic[11](index=11&type=chunk)[12](index=12&type=chunk) - Financial expenses significantly increased by **9831.20%**, mainly due to exchange rate fluctuations and increased interest expenses[12](index=12&type=chunk) - Investment income decreased by **73.08%**, primarily because bank wealth management product income this period was lower than the same period last year[12](index=12&type=chunk) [Cash Flow Statement Item Changes and Reasons](index=4&type=section&id=Cash%20Flow%20Statement%20Item%20Changes%20and%20Reasons) Net operating cash flow deteriorated from reduced sales collections and increased purchases, net investing cash flow decreased from lower wealth management redemptions, and net financing cash flow improved from bank loan differences Cash Flow Statement Key Item Changes (YoY) | Statement Item | January-March 2022 (CNY) | January-March 2021 (CNY) | Change Percentage | | :--- | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -67,575,035.08 | -41,109,093.53 | -64.38% | | Net Cash Flow from Investing Activities | 18,530,818.44 | 85,975,044.82 | -78.45% | | Net Cash Flow from Financing Activities | -4,166,929.49 | -20,958,420.64 | 80.12% | - Net cash flow from operating activities decreased by **64.38%**, primarily due to lower sales collections and higher procurement amounts compared to the same period last year[13](index=13&type=chunk) - Net cash flow from investing activities decreased by **78.45%**, mainly because the redemption amount of unredeemed bank wealth management products at the end of this period was lower than the same period last year[13](index=13&type=chunk) - Net cash flow from financing activities increased by **80.12%**, primarily because the difference between bank loans obtained and repaid this period was greater than the same period last year[13](index=13&type=chunk) [Shareholder Information](index=4&type=section&id=Shareholder%20Information) [Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings](index=4&type=section&id=(I)%20Total%20Number%20of%20Common%20Shareholders%2C%20Preferred%20Shareholders%20with%20Restored%20Voting%20Rights%2C%20and%20Top%20Ten%20Shareholders'%20Holdings) The company had **16,922** common shareholders; among the top ten, Shanghai Yexiang Investment Management Co., Ltd. held the largest stake, with all shares pledged and frozen; some shareholders have related party relationships - The total number of common shareholders at the end of the reporting period was **16,922**[15](index=15&type=chunk) Top 10 Shareholders' Holdings | Shareholder Name | Shareholder Nature | Shareholding Ratio | Number of Shares Held (shares) | Number of Restricted Shares Held (shares) | Pledged, Marked, or Frozen Status | | :--- | :--- | :--- | :--- | :--- | :--- | | Shanghai Yexiang Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 13.07% | 47,577,481 | 0 | Pledged 42,000,000, Frozen 47,577,481 | | Li Qingjiang | Domestic Natural Person | 11.54% | 42,006,669 | 0 | - | | Wang Xiangwei | Domestic Natural Person | 6.20% | 22,561,561 | 0 | - | | Li Fangying | Domestic Natural Person | 5.29% | 19,253,140 | 16,148,355 | - | | Zheng Guofang | Domestic Natural Person | 2.89% | 10,522,921 | 0 | - | | Shanghai Shenkai Petroleum Chemical Equipment Co., Ltd. - First Phase Employee Stock Ownership Plan | Other | 2.75% | 10,000,000 | 0 | - | | Zhao Shurong | Domestic Natural Person | 2.70% | 9,822,775 | 0 | - | | Zhao Xinyi | Domestic Natural Person | 2.01% | 7,315,085 | 5,486,314 | - | | He Yan | Domestic Natural Person | 1.10% | 4,000,100 | 0 | - | | Lin Yimei | Domestic Natural Person | 0.86% | 3,119,400 | 0 | - | - Shareholders Li Fangying and Zhao Shurong are a married couple, and Li Fangying and Zhao Xinyi are mother and daughter, forming a concerted action group[16](index=16&type=chunk) [Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Holdings](index=5&type=section&id=(II)%20Total%20Number%20of%20Preferred%20Shareholders%20and%20Top%2010%20Preferred%20Shareholders'%20Holdings) The company has no preferred shareholders - The company has no preferred shareholders[17](index=17&type=chunk) [Other Important Matters](index=5&type=section&id=Other%20Important%20Matters) There are no other important matters requiring disclosure by the company in this reporting period - The company has no other important matters[17](index=17&type=chunk) [Quarterly Financial Statements](index=5&type=section&id=Quarterly%20Financial%20Statements) [Financial Statements](index=5&type=section&id=(I)%20Financial%20Statements) This section presents the company's Q1 2022 consolidated balance sheet, income statement, and cash flow statement, detailing financial position, operating results, and cash flows [Consolidated Balance Sheet](index=5&type=section&id=1.%20Consolidated%20Balance%20Sheet) As of March 31, 2022, total consolidated assets were **CNY 1.694 billion**, slightly down from the beginning of the year, with **CNY 1.213 billion** in current assets and **CNY 481 million** in non-current assets; total liabilities were **CNY 523 million**, and total owner's equity was **CNY 1.171 billion** Consolidated Balance Sheet Key Data (Period-End) | Item | Period-End Balance (CNY) | | :--- | :--- | | Total Assets | 1,693,992,231.90 | | Total Current Assets | 1,212,529,153.51 | | Total Non-Current Assets | 481,463,078.39 | | Total Liabilities | 523,030,696.81 | | Total Current Liabilities | 476,566,592.23 | | Total Non-Current Liabilities | 46,464,104.58 | | Total Owners' Equity | 1,170,961,535.09 | | Total Owners' Equity Attributable to the Parent Company | 1,098,953,056.78 | [Consolidated Income Statement](index=8&type=section&id=2.%20Consolidated%20Income%20Statement) In Q1 2022, total operating revenue was **CNY 99.75 million** and total operating costs were **CNY 114 million**, resulting in an operating loss of **CNY 10.08 million**; net profit was a loss of **CNY 11 million**, net profit attributable to parent company owners was a loss of **CNY 12.61 million**, and basic earnings per share was **-CNY 0.035** Consolidated Income Statement Key Data (Current Period) | Item | Current Period Amount (CNY) | | :--- | :--- | | Total Operating Revenue | 99,753,310.26 | | Total Operating Costs | 114,007,269.44 | | Operating Profit | -10,076,188.10 | | Total Profit | -10,142,822.68 | | Net Profit | -10,997,669.49 | | Net Profit Attributable to Owners of the Parent Company | -12,614,306.71 | | Basic Earnings Per Share | -0.035 | | Diluted Earnings Per Share | -0.035 | [Consolidated Cash Flow Statement](index=10&type=section&id=3.%20Consolidated%20Cash%20Flow%20Statement) In Q1 2022, net cash flow from operating activities was a negative **CNY 67.58 million**, net cash flow from investing activities was **CNY 18.53 million**, and net cash flow from financing activities was a negative **CNY 4.17 million**; period-end cash and cash equivalents totaled **CNY 156 million** Consolidated Cash Flow Statement Key Data (Current Period) | Item | Current Period Amount (CNY) | | :--- | :--- | | Net Cash Flow from Operating Activities | -67,575,035.08 | | Net Cash Flow from Investing Activities | 18,530,818.44 | | Net Cash Flow from Financing Activities | -4,166,929.49 | | Net Increase in Cash and Cash Equivalents | -53,488,303.19 | | Period-End Balance of Cash and Cash Equivalents | 155,594,737.26 | [Audit Report](index=11&type=section&id=(II)%20Audit%20Report) The company's Q1 2022 report is unaudited - The company's first quarter report is unaudited[28](index=28&type=chunk)