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]

Financial Performance - In 2020, the company's operating revenue was CNY 726,160,599.32, a decrease of 7.52% compared to CNY 785,239,502.08 in 2019[17] - The net profit attributable to shareholders was CNY 28,383,896.18, down 34.81% from CNY 43,542,892.66 in the previous year[17] - The net profit after deducting non-recurring gains and losses was CNY 3,881,382.01, a decline of 77.59% compared to CNY 17,319,062.49 in 2019[17] - Basic earnings per share decreased by 35.00% to CNY 0.078 from CNY 0.120 in the previous year[18] - The company reported a net profit margin improvement, reflecting effective cost management and operational efficiency measures implemented during the year[158] Cash Flow and Assets - The net cash flow from operating activities increased by 29.54% to CNY 94,700,244.67 from CNY 73,103,906.63 in 2019[18] - Total assets at the end of 2020 were CNY 1,721,294,232.89, an increase of 4.91% from CNY 1,640,793,344.11 at the end of 2019[18] - The net cash flow from operating activities in Q4 2020 reached CNY 116,554,835.31, a substantial improvement from a negative cash flow of CNY -36,922,598.61 in Q1 2020[22] - The net increase in cash and cash equivalents was ¥44,849,909.05 in 2020, compared to a decrease of ¥30,739,287.26 in 2019, marking a 245.90% improvement[64] Revenue Breakdown - Revenue from the manufacturing sector accounted for 83.31% of total revenue, with a year-on-year decrease of 5.89%[44] - Revenue from oil drilling equipment decreased by 14.24% to ¥332,751,384.37, representing 45.82% of total revenue[44] - Domestic revenue increased by 2.06% to ¥631,246,114.98, while overseas revenue decreased by 43.07% to ¥94,914,484.34[45] Research and Development - Research and development expenses were ¥62,731,952.47, a decrease of 4.47% from the previous year[55] - The number of R&D personnel increased by 14.91% to 131 in 2020, representing 17.49% of the total workforce, up from 15.26% in 2019[61] - The company aims to invest in research and development to innovate new technologies that align with market trends and customer needs[162] Subsidiaries and Market Presence - The company established a new subsidiary, Sichuan Shenkai Oil and Gas Technology Service Co., Ltd., during the reporting period, while also deregistering its Russian subsidiary[29] - The company has expanded its market presence internationally, successfully entering the Middle East market with its logging products[42] - The company has maintained a strong brand presence in the domestic oil and gas industry, being a key supplier to major state-owned enterprises like CNPC and Sinopec[30] Dividend Policy - The company plans to distribute a cash dividend of CNY 0.50 per 10 shares to all shareholders[6] - The total cash dividend amount for 2020 is 17,907,482.40 yuan, which accounts for 63.09% of the net profit attributable to shareholders[94] - Over the past three years, the company has consistently distributed cash dividends of 0.50 yuan per 10 shares, maintaining a stable dividend policy[90] Risks and Challenges - The company faces risks from global energy transition, oil and gas price fluctuations, and international geopolitical and economic instability[6] - The company anticipates that China's oil demand will peak at 730 million tons per year around 2025, with natural gas demand expected to reach 430 billion cubic meters annually[81] - The company will implement financial tools to hedge against exchange rate risks to mitigate potential impacts on profitability[84] Corporate Governance - The company has established a sound corporate governance structure to protect shareholder rights and ensure fair information disclosure[126] - The board of directors consists of 9 members, including 3 independent directors, and held 8 meetings during the reporting period, ensuring compliance with regulations[177] - The company maintains good relationships with suppliers and partners, enhancing supply chain management and ensuring financial safety for creditors[127] Employee and Management Changes - The total number of employees increased to 1,796 in 2020, indicating a growth in workforce to support expanding operations[160] - The management team underwent significant changes, with Zhang Enyu appointed as the new General Manager on September 17, 2020, to lead the company's strategic initiatives[159] - The total remuneration for directors, supervisors, and senior management during the reporting period amounts to 662.21 million yuan[169]

Financial Performance - Net profit attributable to shareholders decreased by 22.21% to CNY 11,088,955.67 for the current period[9] - Operating revenue for the current period was CNY 178,437,397.14, a decrease of 0.60% year-on-year[9] - Basic earnings per share decreased by 25.00% to CNY 0.03[9] - The company reported a decrease of 44.04% in net profit attributable to shareholders for the year-to-date period, totaling CNY 17,916,879.54[9] - The company expects a cumulative net profit decline of approximately 2,000 to 3,000 million yuan, representing a decrease of 54.07% compared to the same period last year[23] - Basic earnings per share are projected to decrease by 0.05 to 0.08 yuan per share, reflecting a 54.07% decline year-on-year[23] - The net profit for Q3 2020 was CNY 11,030,709.78, a decrease of 19.0% from CNY 13,627,576.83 in Q3 2019[41] - The net profit for the year-to-date period was ¥18,678,575.81, down from ¥31,511,884.36, showing a decline of about 40.8%[45] - The company’s total comprehensive income for the year-to-date period was ¥17,705,287.02, down from ¥33,476,697.98, indicating a decline of approximately 47.2%[46] Assets and Liabilities - Total assets increased by 2.97% to CNY 1,689,530,907.56 compared to the end of the previous year[9] - As of September 30, 2020, total assets amounted to 1,689,530,907.56 yuan, an increase from 1,640,793,344.11 yuan at the end of 2019[33] - Current assets totaled 1,201,178,617.88 yuan, up from 1,125,197,283.44 yuan at the end of 2019[32] - The total liabilities increased to 496,328,616.92 yuan from 443,650,858.09 yuan at the end of 2019[34] - The total liabilities reached ¥11,597,901.05, with current liabilities at ¥6,829,742.77 and non-current liabilities at ¥4,768,158.28[67] - The total liabilities to equity ratio is approximately 1.20, reflecting the company's leverage position[67] Cash Flow - The net cash flow from operating activities improved by 63.32% to CNY 4,692,856.97[9] - The net cash flow from operating activities was negative at CNY -21,854,590.64, an improvement from CNY -59,578,565.05 in the same quarter last year[53] - Cash flow from investment activities showed a net outflow of CNY -43,882,129.39, compared to a net inflow of CNY 25,339,887.88 in Q3 2019, indicating increased investment expenditures[53] - Cash flow from financing activities resulted in a net inflow of CNY 42,659,822.59, a recovery from a net outflow of CNY -14,568,732.40 in the previous year[53] Shareholder Information - The total number of shareholders at the end of the reporting period was 14,437[13] - The largest shareholder, Shanghai Yixiang Investment Management Co., Ltd., held 13.07% of shares[13] Operational Challenges - The company faced challenges due to the COVID-19 pandemic and a significant drop in international oil prices, impacting its operational performance[23] Investment and Financing - The company recorded a 392.82% increase in net cash flow from financing activities, amounting to RMB 42,659,822.59, primarily due to increased bank borrowings[18] - The company’s long-term borrowings increased by 156.20% to RMB 31,000,000.00, reflecting additional bank loans taken by subsidiaries[17] - The company received CNY 68,400,000.00 in new borrowings during the quarter, a significant increase from CNY 6,100,000.00 in Q3 2019, indicating a strategy to bolster liquidity[53] Other Financial Metrics - The weighted average return on net assets was 0.99%, down by 0.29% compared to the previous period[9] - The company’s investment income decreased by 67.37% to RMB 1,297,829.45, mainly due to the absence of last year's significant equity transfer gains[17] - The company reported a financial expense of CNY 4,516,624.22, compared to a financial income of CNY -2,166,268.78 in the same period last year[40] - The company experienced a credit impairment loss of ¥24,670,481.97, compared to a loss of ¥693,024.19 in the previous year, indicating a significant increase in credit losses[45] Changes in Accounting Standards - The company has implemented new revenue and leasing standards starting from 2020, requiring adjustments to the financial statements[58] - The report indicates the implementation of new revenue and leasing standards starting from 2020[69]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥318,868,754.26, a decrease of 8.57% compared to ¥348,753,001.89 in the same period last year[19]. - The net profit attributable to shareholders was ¥6,827,923.87, down 61.56% from ¥17,763,033.16 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was -¥3,880,453.11, a decline of 140.18% compared to ¥9,657,482.36 in the same period last year[19]. - Basic earnings per share decreased by 60.00% to ¥0.02 from ¥0.05 in the same period last year[19]. - The company reported a total revenue of 235,270,260 RMB for the first half of 2020, with a net profit of 29,529,041 RMB[66]. - The net profit for the first half of 2020 was CNY 29,079,786.92, compared to CNY 17,381,913.00 in the same period of 2019, representing an increase of approximately 67.5%[144]. - The net profit attributable to shareholders for the first half of 2020 was CNY 195.482 million, reflecting a decrease of 18.1% compared to the previous year[156]. Cash Flow and Financial Position - The net cash flow from operating activities improved by 28.19%, reaching -¥26,547,447.61, compared to -¥36,968,003.01 in the previous year[19]. - The company reported a significant increase in financing activities, with net cash flow of ¥25,339,316.87, a 219.30% increase from -¥21,239,610.73 last year[40]. - The total cash inflow from financing activities was CNY 45,100,000.00, significantly higher than CNY 1,000,000.00 in the first half of 2019[147]. - The net cash flow from financing activities was CNY 25,339,316.87, a turnaround from a net outflow of CNY -21,239,610.73 in the previous year[147]. - The company's total current assets reached CNY 1,154,073,976.35, compared to CNY 1,125,197,283.44 at the end of 2019, reflecting a growth of approximately 2.6%[128]. - Cash and cash equivalents decreased to CNY 62,860,656.27 from CNY 84,473,978.04, representing a decline of about 25.6%[127]. - The total assets of the company at the end of the reporting period were CNY 4,446.93 million, an increase of 8.98% from the previous year[157]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,654,734,810.67, an increase of 0.85% from ¥1,640,793,344.11 at the end of the previous year[19]. - Total liabilities amounted to CNY 469,954,248.75, up from CNY 443,650,858.09, marking an increase of approximately 5.9%[129]. - The company's equity attributable to shareholders decreased to CNY 1,119,961,887.44 from CNY 1,130,493,753.70, a decline of about 0.9%[130]. - The company reported a short-term loan of CNY 35,000,000.00, significantly higher than CNY 2,500,000.00 at the end of 2019, reflecting a substantial increase[129]. Research and Development - The company plans to enhance its R&D efforts in intelligent software for exploration and development, aiming to create a smart data center for well site data[31]. - Research and development expenses amounted to ¥25,492,666.66, down 9.74% from ¥28,244,477.59 year-on-year[40]. - The company has a strong competitive advantage in R&D, having developed products that break foreign monopolies in the market, such as the directional resistivity measurement instrument[30]. Market and Business Strategy - The company has maintained its core business in the research, manufacturing, and sales of petrochemical equipment, focusing on oil exploration and drilling[28]. - The company is committed to accelerating the realization of domestic substitution goals in response to challenges in the oil service market[36]. - The company is focusing on expanding its market presence both domestically and internationally to mitigate risks associated with market fluctuations[70]. - The company has implemented strategies to stabilize its main business and reduce the impact of the COVID-19 pandemic, including cost reduction and inventory optimization[36]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[7]. - The total number of ordinary shareholders at the end of the reporting period is 19,342[109]. - The total number of shares remains unchanged at 363,909,648, with no changes in the total share capital during the reporting period[106]. - The first major shareholder, Yixiang Investment, has resumed exercising its voting rights over 47,577,481 shares, representing 13.07% of the total share capital[101]. Compliance and Governance - The semi-annual financial report has not been audited[76]. - There were no major litigation or arbitration matters during the reporting period[79]. - The company did not experience any penalties or rectification situations during the reporting period[80]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, ensuring a true and complete reflection of the company's financial status[170]. Future Outlook - The company expects a cumulative net profit of approximately 1,500,000 RMB for the first nine months of 2020, representing a decline of 53.15% compared to the previous year[68]. - The company anticipates that if there are no significant reversals in the pandemic, Q3 2020 performance may return to last year's levels, despite cumulative performance still showing a decline[68]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational capabilities[156].

Financial Performance - The company's operating revenue for 2019 was ¥785,239,502.08, representing an increase of 11.85% compared to ¥702,069,598.63 in 2018[17]. - The net profit attributable to shareholders for 2019 was ¥43,542,892.66, a significant increase of 46.30% from ¥29,761,987.03 in 2018[18]. - The net cash flow from operating activities reached ¥73,103,906.63, marking a substantial increase of 227.92% compared to ¥22,293,081.41 in the previous year[18]. - The basic earnings per share for 2019 was ¥0.120, up 46.34% from ¥0.082 in 2018[18]. - The total assets at the end of 2019 were ¥1,640,793,344.11, a slight decrease of 0.10% from ¥1,642,391,597.13 at the end of 2018[18]. - The net assets attributable to shareholders increased to ¥1,130,493,753.70, reflecting a growth of 2.32% from ¥1,104,750,602.81 in 2018[18]. - The weighted average return on equity for 2019 was 3.90%, an increase of 1.17% from 2.73% in 2018[18]. - The net profit after deducting non-recurring gains and losses was ¥17,319,062.49, which is a 93.79% increase from ¥8,937,120.12 in 2018[18]. Revenue Breakdown - Sales revenue from oil drilling equipment was 388.02 million yuan, accounting for 49.41% of total revenue, with a slight increase of 0.23%[39]. - The revenue from logging equipment and services grew by 26.73% year-on-year, reaching 198.51 million yuan[39]. - The revenue from drilling equipment and services surged nearly 80% compared to the previous year, totaling 54.23 million yuan[39]. - The domestic revenue increased by 28.40% to 618.53 million yuan, while overseas revenue decreased by 24.34% to 166.71 million yuan[39]. Research and Development - The company launched several new products, including a directional resistivity measurement instrument that reached international advanced levels, breaking foreign monopolies in the market[29]. - The company plans to enhance its R&D efforts in intelligent software for exploration and development, aiming to create a smart data center for well site data[30]. - The company’s R&D investment as a percentage of revenue has increased, reflecting its commitment to innovation and technology advancement[34]. - The company has successfully commercialized several high-end equipment and analysis instruments, contributing to its competitive edge in the industry[34]. - Research and development expenses rose by 24.36% to CNY 65,666,811.80 in 2019, up from CNY 52,804,412.79 in 2018[51]. - R&D investment increased by 24.36% from ¥52,804,412.79 in 2018 to ¥65,666,811.80 in 2019, representing 8.36% of operating revenue[59]. Operational Challenges and Risks - The company faces risks from industry cyclicality, international exchange rate fluctuations, and geopolitical and economic instability, which may impact profitability[5]. - The company anticipates that international oil prices will remain at historically low levels for an extended period, impacting capital expenditures in the oil exploration and development industry[79]. - The company faces risks from oil and gas price fluctuations, which could significantly impact its operating performance if prices remain low[80]. - The company is exposed to exchange rate risks due to its operations in multiple countries, and it plans to use financial instruments to hedge against these fluctuations[80]. - The company acknowledges high risks from geopolitical issues, natural disasters, and other uncontrollable factors that could affect its operations[80]. Corporate Governance - The company has established a sound corporate governance structure to protect shareholder rights and ensure timely information disclosure[120]. - The company has maintained its accounting firm, Da Hua Accounting Firm, for three consecutive years, with an audit fee of CNY 900,000[98]. - The company has established a complete governance structure, including a shareholders' meeting, board of directors, and supervisory board, ensuring operational independence[175]. - The company has a structured approach to appointing and compensating its senior management team[156]. - The company has confirmed that there are no other shareholders holding more than 10% of the shares[141]. Shareholder Information - The company plans to distribute a cash dividend of ¥0.50 per 10 shares, totaling approximately ¥363,909,648 shares as the base[5]. - The company has maintained a cash dividend payout ratio of 61.14% in 2018 and 41.79% in 2019[85]. - The total number of shares before the change was 363,909,648, with 5.48% being limited shares and 94.52% being unrestricted shares[131]. - The largest shareholder, Shanghai Yixiang Investment Management Co., Ltd., holds 13.07% of the shares, amounting to 47,577,481 shares, which are currently pledged[133]. - The company reported a total of 17,251 common shareholders at the end of the reporting period[133]. Employee and Management Structure - The total number of employees in the company is 747, with 76 in the parent company and 671 in major subsidiaries[159]. - The professional composition includes 325 production personnel, 118 sales personnel, 154 technical personnel, 20 financial personnel, and 130 administrative personnel[159]. - The company implemented a performance-linked compensation system in 2019, aiming to enhance employee motivation and align with company performance[161]. - The management team includes individuals with extensive experience in the oil and gas industry and related sectors[155]. Audit and Financial Reporting - The audit opinion was a standard unqualified opinion, indicating that the financial statements fairly represent the company's financial position as of December 31, 2019[198]. - The financial report reflects compliance with accounting standards, ensuring fair representation of the company's operational results and cash flows for the year 2019[198]. - The company reported no significant defects in financial reporting, with zero major or important defects identified[191]. - Internal control deficiencies were assessed based on pre-tax profit and total assets, with thresholds set at 5% and 0.5% respectively for general defects[191].

Financial Performance - The company's operating revenue for Q1 2020 was ¥146,603,417.27, a decrease of 14.55% compared to ¥171,575,057.63 in the same period last year[9] - The net profit attributable to shareholders was a loss of ¥2,808,911.02, representing a decline of 136.69% from a profit of ¥7,654,905.08 in the previous year[9] - The basic earnings per share were -¥0.01, down 150.00% from ¥0.02 in the previous year[9] - The net profit for Q1 2020 was a loss of CNY 3,618,770.53, compared to a profit of CNY 5,907,464.91 in Q1 2019, representing a significant decline[44] - The company's operating profit for Q1 2020 was a loss of CNY 4,624,964.83, compared to a profit of CNY 7,364,913.27 in the previous year[44] - The total revenue for Q1 2020 was CNY 4,460,167.87, a decrease from CNY 8,552,758.56 in the same period last year[47] - The company anticipates a net profit range of 700 to 1,000 million for the first half of 2020, down from 1,776.30 million in the same period last year[23] Cash Flow - The net cash flow from operating activities was negative at ¥36,922,598.61, worsening by 125.81% compared to a negative cash flow of ¥16,351,053.16 in the same period last year[9] - Operating cash flow net amount decreased by 125.81% to -36,922,598.61 from -16,351,053.16[20] - The cash flow from operating activities was CNY 112,685,087.14 in Q1 2020, a decrease of 33.5% from CNY 169,641,207.28 in Q1 2019[51] - The total cash outflow from operating activities was 161,076,970.85 CNY, compared to 193,927,377.82 CNY in the previous period, indicating a decrease in operational expenditures[52] - The company experienced a net decrease in cash and cash equivalents of -5,061,748.20 CNY, compared to -32,276,651.02 CNY in the previous period, showing an improvement in cash management[53] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,626,948,008.91, a decrease of 0.84% from ¥1,640,793,344.11 at the end of the previous year[9] - Current liabilities totaled CNY 391,158,071.16, a decrease from CNY 406,211,109.03 in the previous quarter[36] - Non-current liabilities increased to CNY 41,274,464.15 from CNY 37,439,749.06, indicating a rise of approximately 4.9%[36] - Total liabilities amounted to CNY 443,650,858.09, with current liabilities totaling CNY 406,211,109.03[59] - The total assets of the company were reported at CNY 1,640,793,344.11[59] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 17,662[13] - The largest shareholder, Shanghai Yixiang Investment Management Co., Ltd., held 13.07% of the shares, amounting to 47,577,481 shares[13] Government Subsidies and Other Income - The company recognized government subsidies amounting to ¥4,266,674.40 during the reporting period[10] - Operating income from non-operating activities increased by 354.28% to 1,929,883.26 from 424,826.60[18] Investment Performance - Investment cash flow net amount improved by 136.44% to 4,301,682.92 from -11,804,916.72[20] - The company reported a net cash flow from investment activities of -8,252,239.85 CNY, a decline from 7,401,222.29 CNY in the previous period, indicating challenges in investment performance[56] Financial Ratios - The weighted average return on net assets was -0.25%, down 0.94% from 0.69% in the previous year[9] Changes in Equity - The net assets attributable to shareholders were ¥1,128,676,600.79, a slight decrease of 0.16% from ¥1,130,493,753.70 at the end of the previous year[9] - The company's total equity as of March 31, 2020, was CNY 1,194,515,473.60, down from CNY 1,197,142,486.02 at the end of 2019[37] Compliance and Accounting Standards - The company has implemented the new revenue recognition standard starting in 2020, adjusting the presentation of contract liabilities[63] - The adjustment of pre-receipts to contract liabilities reflects compliance with the new accounting standards[63] - The company has not undergone an audit for the first quarter report[63]

Financial Performance - Net profit attributable to shareholders increased by 101.00% year-on-year, reaching approximately ¥14.26 million for the reporting period[7] - Operating revenue for the reporting period was approximately ¥179.51 million, reflecting a year-on-year increase of 2.52%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 286.80% year-on-year, amounting to approximately ¥8.04 million[7] - Basic earnings per share for the reporting period were ¥0.04, a 100.00% increase compared to the same period last year[7] - The weighted average return on net assets was 1.28%, an increase of 0.65 percentage points compared to the previous year[7] - Net profit attributable to the parent company rose by 117.17% to ¥32,018,459.81, driven by increased sales revenue[15] - Earnings per share increased by 125.00% to ¥0.09 compared to the same period last year, reflecting substantial profit growth[16] - The net profit for the year-to-date period was ¥31,511,884.36, compared to ¥15,801,777.28 in the same period last year, reflecting a growth of 99.1%[48] - The total comprehensive income for the year-to-date period was ¥33,476,697.98, compared to ¥19,097,113.66 in the same period last year, indicating a growth of 75.5%[48] Cash Flow and Liquidity - The net cash flow from operating activities was negative at approximately -¥59.58 million, a decrease of 34.56% year-on-year[7] - Net cash flow from operating activities improved by 34.56% to -¥59,578,565.05, attributed to increased cash from sales and services[16] - The cash flow from operating activities in Q3 2019 was -59,578,565.05 CNY, an improvement from -91,047,191.13 CNY in the same quarter last year[56] - The cash flow from operating activities showed a significant reduction in outflows, totaling 25,899,773.62 compared to 36,103,050.51 last year[59] - Cash and cash equivalents decreased by 43.89% to ¥58,822,226.15 due to dividend distribution during the reporting period[15] - Cash and cash equivalents at the end of Q3 2019 totaled 48,404,140.63 CNY, a decrease from 50,925,910.95 CNY at the end of Q3 2018[56] Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥1.59 billion, a decrease of 2.91% compared to the end of the previous year[7] - The total assets as of September 30, 2019, were 1,594,584,484.96 CNY, compared to 1,642,391,597.13 CNY at the end of 2018[32] - The total liabilities decreased from 467,134,818.92 CNY at the end of 2018 to 414,613,378.09 CNY by September 30, 2019[31] - The company's total equity as of Q3 2019 was CNY 971,291,357.81, down from CNY 1,038,149,497.00[37] - The company's equity attributable to shareholders increased from 1,104,750,602.81 CNY at the end of 2018 to 1,120,538,393.84 CNY by September 30, 2019[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 19,028[11] - The largest shareholder, Shanghai Yixiang Investment Management Co., Ltd., held 13.07% of the shares, amounting to approximately 47.58 million shares[11] Research and Development - R&D expenses increased by 39.95% to ¥52,113,002.23, indicating significant growth in research investment[15] - Research and development expenses increased to CNY 23,868,524.64, up 64.9% from CNY 14,496,853.50 in the previous year[39] Investment Activities - Investment cash outflow increased by 55.64% to ¥264,338,368.32, indicating higher purchases of financial products[16] - The company's investment activities included cash inflows from recovering investments totaling 301,069,068.32 CNY, compared to 238,300,000.00 CNY in Q3 2018[56] Other Comprehensive Income - Other comprehensive income increased by 34.71% to ¥7,626,202.01, primarily due to exchange rate fluctuations[15] - Other comprehensive income after tax for Q3 2019 was CNY 1,817,219.49, compared to CNY 2,471,647.60 in the previous year[41] Financial Standards and Regulations - The company is implementing new financial instrument standards starting in 2019, which may affect future financial reporting[70] - The company has not undergone an audit for the third quarter report[70]