证券代码：002490 证券简称：山东墨龙 公告编号：2023-048 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或者重大遗漏。 山东墨龙石油机械股份有限公司（以下简称"公司"）董事会于近日收到公 司副总经理兼财务总监郝云峰先生的辞职报告，郝云峰先生因个人原因，申请辞 去公司副总经理及财务总监职务。郝云峰先生原定任职届满期限为 2024 年 11 月 25 日，辞职后郝云峰先生不再担任公司及子公司任何职务。截至本公告披露日， 郝云峰先生未持有公司股票。 根据《公司法》和《公司章程》的相关规定，郝云峰先生辞职不会影响公司 日常生产经营和财务管理等工作，其辞职报告自送达公司董事会之日起生效，公 司将按照法定程序尽快完成财务总监的聘任工作。 特此公告。 山东墨龙石油机械股份有限公司董事会 二〇二三年十一月十三日 山东墨龙石油机械股份有限公司 关于公司高级管理人员辞职的公告 ...

Financial Performance - The company's operating revenue for Q3 2023 was ¥203,704,216.55, a decrease of 68.66% compared to the same period last year[4] - Total operating revenue for the third quarter was ¥1,002,123,231.65, a decrease of 54.9% compared to ¥2,220,897,730.20 in the same period last year[22] - Total operating costs amounted to ¥1,252,362,184.16, down 49.6% from ¥2,482,341,068.96 year-over-year[22] - The net loss for the period was ¥254,682,267.47, compared to a net loss of ¥283,377,622.15 in the previous year, representing an improvement of 10.1%[23] - The total comprehensive loss for the period was ¥255,090,284.98, compared to a loss of ¥285,232,937.74 in the previous year, indicating a reduction of 10.6%[24] - Basic and diluted earnings per share were both -¥0.3095, slightly improved from -¥0.3333 in the same quarter last year[24] Profitability - The net profit attributable to shareholders for Q3 2023 was -¥88,667,654.68, representing a 4.89% increase year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥88,792,097.28, an increase of 5.75% compared to the previous year[4] Assets and Liabilities - Total assets at the end of Q3 2023 were ¥3,305,574,889.93, down 18.15% from the end of the previous year[4] - As of September 30, 2023, the company's total assets amounted to RMB 3,305,574,889.93, a decrease from RMB 4,038,605,559.51 at the beginning of the year, representing a decline of approximately 18.1%[19] - The company's current assets decreased to RMB 1,068,000,643.78 from RMB 1,648,063,045.76, reflecting a reduction of about 35.1%[19] - The total liabilities decreased to RMB 2,648,409,531.96 from RMB 3,128,252,351.27, indicating a decline of approximately 15.3%[21] - The equity attributable to shareholders decreased by 24.84% to ¥742,586,010.04 compared to the end of the previous year[4] - The company's total liabilities and equity amounted to ¥3,305,574,889.93, down from ¥4,038,605,559.51 year-over-year[22] Cash Flow - Cash flow from operating activities for the year-to-date was ¥20,395,954.15, a decrease of 19.79% compared to the previous year[4] - The company reported a cash flow from operating activities of ¥20,395,954.15, a decrease of 19.9% from ¥25,428,576.40 in the same period last year[26] - The company reported a significant decrease in cash and cash equivalents, down 62.05% to ¥174,457,621.41 compared to the end of 2022[9] - Cash and cash equivalents decreased by ¥270,392,594.47 during the period, compared to a decrease of ¥35,376,606.33 in the same period last year[26] Receivables and Inventories - The company experienced a 55.84% decrease in notes receivable, totaling ¥75,751,946.69 at the end of Q3 2023[9] - The accounts receivable decreased to RMB 272,558,670.16 from RMB 294,399,562.75, a reduction of about 7.4%[19] - The inventory level decreased to RMB 522,125,202.92 from RMB 670,217,844.40, reflecting a decline of approximately 22.1%[19] Legal Matters - The company reported a total of 78 litigation and arbitration cases in the past twelve months, with a total amount involved of approximately RMB 147,948,600, accounting for 14.98% of the latest audited net assets[17] Borrowings and Payables - The company's short-term borrowings decreased to RMB 1,762,400,787.08 from RMB 1,962,936,789.90, a decline of about 10.2%[20] - The long-term payables decreased to RMB 23,427,732.00 from RMB 65,461,963.55, indicating a reduction of approximately 64.2%[21] - The net cash flow from financing activities was -¥292,004,557.16, a significant increase in outflows compared to the previous year, indicating higher debt repayments[12] Research and Development - Research and development expenses were ¥25,649,206.19, a decrease of 23.9% from ¥33,698,402.11 in the previous year[22] Accounting Changes - The third quarter report for Shandong Molong Petroleum Machinery Co., Ltd. has not been audited[28] - The company has implemented new accounting standards starting in 2023, affecting the financial statements[28]

Financial Performance - Operating revenue for the reporting period was CNY 203,704,216.55, a decrease of 68.66% compared to the same period last year[1] - Net profit attributable to shareholders of the listed company was a loss of CNY 88,667,654.68, representing a 4.89% improvement year-on-year[1] - Basic and diluted earnings per share were both CNY (0.1112), an increase of 4.79% compared to the previous year[1] - Operating revenue for the first nine months of 2023 was CNY 1,002,123,231.65, a decrease of 54.88% compared to CNY 2,220,897,730.20 in the same period of 2022[22] - Operating costs for the same period were CNY 929,267,750.89, down 56.49% from CNY 2,135,736,337.65 year-on-year[22] - Total profit for the current period was (252,776,791.83), which is an improvement from (281,618,097.30) in the previous period, showing a reduction in losses by approximately 10.3%[44] - Net profit for the current period was (254,682,267.47), compared to (283,377,622.15) in the previous period, indicating an improvement of about 10.1%[44] Assets and Liabilities - Total assets decreased by 18.15% to CNY 3,305,574,889.93 from CNY 4,038,605,559.51 at the end of the previous year[9] - Total current assets as of September 30, 2023, amounted to CNY 1,068,000,643.78, down from CNY 1,648,063,045.76 at the beginning of the year[34] - Total liabilities amount to 2,648,409,531.96 CNY, a decrease of 15.4% from 3,128,252,351.27 CNY in the previous period[61] - Total equity attributable to the parent company is 742,586,010.04 CNY, down 25.0% from 987,960,842.88 CNY in the previous period[62] - The company’s total equity as of September 30, 2023, was CNY 657,165,357.97, down from CNY 910,353,208.24 at the beginning of the year[40] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 20,395,954.15, down 19.79% year-on-year[1] - The company’s cash flow from operations was reported at 803,038,653.98, a decrease from 2,109,038,730.95 in the previous period, indicating a decline of approximately 61.9%[48] - Net cash flow from financing activities was CNY (292,004,557.16), a significant increase of 519.39% compared to CNY (47,143,640.15) in the previous year, primarily due to increased debt repayment[16] - Cash inflow from financing activities totaled approximately ¥3.26 billion, a decrease of 4.4% from the previous period's ¥3.41 billion[98] - Cash outflow for debt repayment was approximately ¥3.48 billion, an increase of 9.0% compared to ¥3.19 billion in the prior period[98] Shareholder Information - The total number of common shareholders at the end of the reporting period was 35,609, including 35,565 A-share accounts and 44 H-share accounts[27] - The top ten shareholders held a combined 62.81% of the shares, with Shouguang Molong Holdings Co., Ltd. holding the largest share at 29.53%[18] Other Income and Expenses - The company reported a total of CNY 124,442.60 in non-operating income for the reporting period, with a total of CNY 1,597,626.90 for the year-to-date[4] - Other income decreased by 82.37% to CNY 132,723.59 from CNY 752,905.98, mainly due to a reduction in subsidy income[22] - The company reported a significant increase in gains from asset disposal, which rose by 28,880.86% to CNY 325,712.98 compared to CNY 1,123.89 in the previous year[22] Impairment and Litigation - The company reported a credit impairment loss of (1,713,385.47) compared to a gain of 3,641,035.54 in the previous period, reflecting a significant negative shift[44] - The company has ongoing litigation and arbitration cases totaling 78, with a combined amount of approximately 147.95 million, accounting for 14.98% of the latest audited net assets[55]

本公司及监事会全体成员保证信息披露内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 山东墨龙石油机械股份有限公司（以下简称"公司"）第七届监事会第九次会议 于2023年10月16日以书面、电话或电子邮件等方式发出会议通知，于2023年10月30日 以通讯方式在公司会议室召开。本次会议应出席监事3人，实际出席监事3人。本次监 事会的召集和召开符合《公司法》及《公司章程》的规定。 会议由监事会主席刘书宝先生主持，经与会监事认真审议，作出决议如下： 1、以 3 票同意、0 票反对、0 票弃权的结果，审议通过了《2023 年第三季度报 告》 监事会审阅并同意公司《2023 年第三季度报告》，并出具结论性意见如下：董事 会编制及审议《2023 年第三季度报告》的程序符合中国证监会和深圳证券交易所的规 定，报告内容真实、准确、完整地反映了公司 2023 年第三季度的财务状况和经营成 果。 《2023 年第三季度报告》（公告编号：2023-047）详见信息披露网站巨潮资讯网 （http://www.cninfo.com.cn）及《中国证券报》《上海证券报》《证券日报》和《证 券时报》。 证券代码：002490 ...

山东墨龙石油机械股份有限公司 第七届董事会第八次会议决议公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 一、董事会会议召开情况 山东墨龙石油机械股份有限公司（以下简称"公司"）第七届董事会第八次会议于 2023 年 10 月 16 日以书面、电话或电子邮件等方式发出会议通知，于 2023 年 10 月 30 日在公司会议室以现场会议及通讯方式召开。会议由公司董事长袁瑞先生主持，会议应 到董事 9 名，实到董事 9 名，公司部分监事和高级管理人员列席了本次会议。本次会议 的召开符合《公司法》和《公司章程》的有关规定，合法有效。 二、董事会会议审议情况 与会董事就相关议案进行了审议、表决，并通过以下决议： 证券代码：002490 证券简称：山东墨龙 公告编号：2023-045 公司《2023 年第三季度报告》真实、准确、完整地反映了公司 2023 年第三季度的 财务状况和经营成果，不存在任何虚假记载、误导性陈述或重大遗漏。 本议案已经审核委员会审议通过。 《2023 年第三季度报告》（公告编号：2023-047）详见信息披露网站巨潮资讯网 （http://ww ...

证券代码：002490 证券简称：山东墨龙 公告编号：2023-044 山东墨龙石油机械股份有限公司 关于控股股东部分股份质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 山东墨龙石油机械股份有限公司（以下简称"公司"）近日接到控股股东寿光墨龙 控股有限公司（以下简称"墨龙控股"）函告，获悉其将所持有公司的部分股份办理了 质押业务，具体事项如下： | | | | | | | | 已质押股份 情况 | | 未质押股份 情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 持股数量 | 持股 | 本次质押前 | 本次质押后 | 占其所 | 占公司 | 已质押股 | | 未质押股 | | | 股东名称 | （股） | 比例 | 质押股份数 | 质押股份数 | 持股份 | 总股本 | 份限售和 | 占已质 | 份限售和 | 占未质 | | | | | 量（股） | 量（股） | 比例 | 比例 | | 押股份 | | 押股份 | | | | | | | | ...

关于总经理辞职及聘任公司高级管理人员的公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、总经理辞职情况 证券代码：002490 证券简称：山东墨龙 公告编号：2023- 043 山东墨龙石油机械股份有限公司 山东墨龙石油机械股份有限公司（以下简称"公司"）董事会于近日收到公司总 经理李志信先生递交的书面辞职报告，李志信先生因工作调整原因申请辞去公司总 经理职务，辞去上述职务后，李志信先生仍担任公司执行董事职务。 李志信先生的辞职，不会影响公司正常运行，不会对公司日常经营产生不利影 响。根据《公司法》及《公司章程》等有关规定，李志信先生的辞职报告自送达董事 会之日起生效。截至本公告披露日，李志信先生未持有公司股份。 公司独立董事对李志信先生的辞职发表了独立意见，具体内容请详见同日登载 在巨潮资讯网上的《独立董事关于总经理辞职及聘任高级管理人员事项的独立意见》。 二、聘任高级管理人员情况 2023年10月8日，公司召开第七届董事会第六次临时会议，审议通过了《关于聘 任公司总经理的议案》及《关于聘任公司副总经理的议案》。为满足公司经营管理及 未来发展的需要，经 ...

因此，我们同意李志信先生辞去公司总经理职务。 山东墨龙石油机械股份有限公司独立董事 关于总经理辞职及聘任高级管理人员事项的独立意见 根据中国证监会《上市公司独立董事管理办法》《深圳证券交易所股票上市 规则》《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规范运 作》及《公司章程》等相关规章制度的规定，作为山东墨龙石油机械股份有限公 司（以下简称"公司"）的独立董事，基于独立判断的立场，现就关于总经理辞 职及聘任高级管理人员事项发表独立意见如下： 一、对总经理辞职事项的独立意见 公司总经理李志信先生因工作调整原因，向董事会提交了书面辞职报告，其 辞职原因与实际情况一致。李志信先生的辞职，不会影响公司董事会的日常运作， 也不影响公司正常的生产经营。 独立董事： 唐庆斌 宋执旺 蔡忠杰 二〇二三年十月八日 二、对聘任高级管理人员事项的独立意见 经审阅拟任公司总经理姚有领先生与拟任副总经理李志信先生的简历等相 关资料，未发现有《公司法》及《公司章程》等规定不得担任公司高级管理人员 的情形，未发现有违反法律、法规、规范性文件的情形，未发现存在被中国证监 会确认为市场禁入者且禁止尚未解除的情形，也不存在其他不得 ...

证券代码：002490 证券简称：山东墨龙 公告编号：2023-042 山东墨龙石油机械股份有限公司 第七届董事会第六次临时会议决议公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误 导性陈述或者重大遗漏。 一、董事会会议召开情况 山东墨龙石油机械股份有限公司（以下简称"公司"）第七届董事会第六次临时会 议于 2023 年 10 月 3 日以书面、电话或电子邮件等方式发出会议通知，于 2023 年 10 月 8 日在公司会议室以现场会议及通讯方式召开。会议由公司董事长袁瑞先生主持，会议 应到董事 9 名，实到董事 9 名，公司部分监事和高级管理人员列席了本次会议。本次会 议的召开符合《公司法》和《公司章程》的有关规定，合法有效。 二、董事会会议审议情况 提名委员会对姚有领先生任职资格审查通过后，经全体董事表决，同意聘任姚有领 先生为公司总经理，任期自董事会审议通过之日起至第七届董事会任期届满之日止。 独立董事已就本议案发表了同意的独立意见。 具体详见公司于同日在指定信息披露媒体《中国证券报》《上海证券报》《证券日 报》《证券时报》和巨潮资讯网（www.cninfo.com.cn）披 ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=Item%201.%20Important%20Notice%2C%20Table%20of%20Contents%20and%20Definitions) The board, supervisory board, and senior management guarantee the report's truthfulness, accuracy, and completeness, with all directors attending the review meeting - Company board, supervisory board, and senior management guarantee the report content's truthfulness, accuracy, and completeness, assuming legal responsibility; all directors attended the board meeting reviewing this semi-annual report[41](index=41&type=chunk)[42](index=42&type=chunk) - Company head, chief accountant, and accounting department head declare the financial report in this semi-annual report is true, accurate, and complete[36](index=36&type=chunk) - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the 2023 semi-annual period[38](index=38&type=chunk) [Company Profile and Key Financial Indicators](index=5&type=section&id=Item%202.%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company and its key financial performance metrics for the reporting period [Company Profile](index=5&type=section&id=I.%20Company%20Profile) Shandong Molong Petroleum Machinery Company Limited is a dual-listed company on the Shenzhen Stock Exchange (002490) and Hong Kong Stock Exchange (00568), primarily engaged in petroleum machinery business | Item | Content | | :--- | :--- | | **Company Chinese Name** | 山東墨龍石油機械股份有限公司 | | **Company English Name** | Shandong Molong Petroleum Machinery Company Limited | | **Stock Abbreviation** | Shandong Molong | | **Stock Code** | 002490 (SZSE), 00568 (HKEX) | | **Legal Representative** | Yuan Rui | [Key Accounting Data and Financial Indicators](index=6&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's operating revenue significantly decreased by 49.18% year-on-year, while net loss attributable to shareholders narrowed by 8.38%; net cash flow from operating activities turned negative, decreasing by 141.77% year-on-year 2023 Half-Year Key Financial Indicators | Indicator | Current Reporting Period | Prior Year Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (Yuan)** | 798,419,015.10 | 1,570,941,941.65 | -49.18% | | **Net Profit Attributable to Listed Company Shareholders (Yuan)** | (158,242,397.13) | (172,717,715.72) | 8.38% | | **Net Cash Flow from Operating Activities (Yuan)** | (23,770,597.65) | 56,906,850.11 | -141.77% | | **Basic Earnings Per Share (Yuan/share)** | (0.1983) | (0.2165) | 8.41% | | **Weighted Average Return on Net Assets** | (17.42%) | (13.02%) | –4.40% | | **Total Assets (Yuan)** | 3,721,541,449.42 | 4,038,605,559.51 | -7.85% (vs. end of prior year) | | **Net Assets Attributable to Listed Company Shareholders (Yuan)** | 829,910,098.20 | 987,960,842.88 | -16.00% (vs. end of prior year) | [Non-recurring Gains and Losses and Amounts](index=7&type=section&id=VI.%20Non-recurring%20Gains%20and%20Losses%20and%20Amounts) The company's non-recurring gains and losses totaled 1.47 million Yuan during the reporting period, primarily from non-repayable accounts payable, partially offset by asset disposal losses Non-recurring Gains and Losses Items | Item | Amount (Yuan) | Explanation | | :--- | :--- | :--- | | Losses from disposal of non-current assets | (131,293.77) | Primarily losses from disposal and scrapping of certain company assets | | Government grants included in current profit/loss | 132,723.59 | Primarily cross-border e-commerce subsidies and individual income tax withholding fee refunds received in the current period | | Other non-operating income and expenses | 1,759,208.98 | Primarily non-repayable accounts payable transferred in the current period | | **Total** | **1,473,184.30** | - | [Management Discussion and Analysis](index=8&type=section&id=Item%203.%20Management%20Discussion%20and%20Analysis) This section provides a detailed analysis of the company's operations, financial performance, core competencies, and risks during the reporting period [Main Business Activities During the Reporting Period](index=8&type=section&id=I.%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company primarily engages in R&D, manufacturing, and sales of energy equipment, with pipe products for oil and gas drilling accounting for nearly 90% of revenue; despite growth in oilfield-related business, overall production and sales volumes declined due to poor market conditions for general pipes and castings/forgings, leading to a loss and a decrease in total assets and net assets - The company operates on a "production based on sales" model, with pipe products accounting for nearly **90% of operating revenue**, and a significant increase in export sales proportion[81](index=81&type=chunk) Financial Status at Report End | Indicator | Amount (Yuan) | Change from Beginning of Year | | :--- | :--- | :--- | | **Total Assets** | 3.72 Billion | -7.85% | | **Net Assets Attributable to Listed Company Shareholders** | 830 Million | -16.00% | Operating Performance During Reporting Period | Indicator | Amount (Yuan) | Year-on-Year Change | | :--- | :--- | :--- | | **Operating Revenue** | 798 Million | -49.18% | | **Net Profit Attributable to Listed Company Shareholders** | (158 Million) | - | [Analysis of Core Competencies](index=9&type=section&id=II.%20Analysis%20of%20Core%20Competencies) The company's core competencies include leading HIsmelt technology, strong R&D, continuous new product development, strict quality management, robust market networks, and a strong brand reputation - The company possesses internationally leading **HIsmelt molten reduction metallurgy technology**, with authorized projects becoming new profit growth points[86](index=86&type=chunk) - The company operates provincial-level enterprise technology centers and a national accredited laboratory (CNAS), recognized as a high-tech enterprise[87](index=87&type=chunk) - During the reporting period, the company successfully developed new products, including special connection threaded oil casing, special pumps, and anti-corrosion sucker rods, with bulk shipments to the Middle East market[89](index=89&type=chunk) - In the first half of 2023, the company developed **4 new market regions** and **11 new clients** overseas, demonstrating strong market expansion capabilities[91](index=91&type=chunk) [Analysis of Main Business](index=11&type=section&id=III.%20Analysis%20of%20Main%20Business) Operating revenue decreased by 49.18% year-on-year due to lower sales of general pipes and castings/forgings; pipe product revenue grew 20.62% to 89.73% of total, while castings/forgings revenue plummeted 98.31%; domestic revenue fell 57.83%, but international revenue surged 156.48% with improved gross margins Operating Revenue Composition and Changes | Category | Amount in Current Reporting Period (Yuan) | Proportion | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **By Product** | | | | | Pipe Products | 716,389,280.84 | 89.73% | +20.62% | | Castings and Forgings | 14,860,414.01 | 1.86% | -98.31% | | **By Region** | | | | | Domestic Region | 635,768,739.52 | 79.63% | -57.83% | | International Region | 162,650,275.58 | 20.37% | +156.48% | Key Financial Data Year-on-Year Changes | Item | Current Reporting Period | Prior Year Period | Year-on-Year Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | **Operating Revenue** | 798 Million Yuan | 1.57 Billion Yuan | -49.18% | Decrease in sales volume of general pipes and castings/forgings | | **Operating Cost** | 746 Million Yuan | 1.52 Billion Yuan | -50.86% | Decrease in sales volume of general pipes and castings/forgings | | **Net Cash Flow from Operating Activities** | (23.77 Million Yuan) | 56.91 Million Yuan | -141.77% | Decrease in VAT refund received compared to last year | | **Net Cash Flow from Financing Activities** | 40.21 Million Yuan | 16.62 Million Yuan | +141.92% | Decrease in repayment of matured financing | [Analysis of Non-Main Business](index=13&type=section&id=IV.%20Analysis%20of%20Non-Main%20Business) Non-main business activities negatively impacted profit, primarily due to credit impairment losses of (2.12 million Yuan) and asset impairment losses of (1.47 million Yuan) from accounts receivable and inventory, while non-operating income from non-repayable accounts payable was unsustainable Non-Main Business Gains and Losses Items | Item | Amount (Yuan) | Reason for Formation | Sustainability | | :--- | :--- | :--- | :--- | | **Non-operating income** | 2,044,943.45 | Primarily non-repayable accounts payable transferred in the current period | No | | **Non-operating expenses** | 742,741.22 | Primarily losses from disposal of certain assets in the current period | No | | **Asset impairment losses** | (1,465,146.60) | Primarily inventory impairment losses recognized in the current period | No | | **Credit impairment losses** | (2,115,579.66) | Primarily impairment losses recognized on accounts receivable in the current period | No | [Analysis of Assets and Liabilities](index=14&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) As of the reporting period end, total assets were 3.72 billion Yuan, a 7.85% decrease from the beginning of the year; accounts receivable increased due to higher oilfield business volume, while inventory decreased from sales; short-term borrowings increased as a proportion of total assets; over 1 billion Yuan in assets were restricted, mainly for guarantees, frozen litigation funds, and mortgage loans - At the end of the reporting period, accounts receivable increased by **2.5 percentage points** from the beginning of the year, primarily due to increased oilfield business volume; inventory proportion decreased by **2.92 percentage points** due to sales of existing products[110](index=110&type=chunk) Restricted Asset Rights at Report End | Item | Book Value at Period End (Yuan) | Reason for Restriction | | :--- | :--- | :--- | | Monetary Funds | 433,131,291.60 | Guarantees and litigation freezes | | Notes Receivable | 7,558,071.96 | Notes pledged | | Fixed Assets | 342,981,934.52 | Mortgage loans | | Intangible Assets | 195,998,183.84 | Mortgage loans / Seizure | | Accounts Receivable | 23,004,870.47 | Factoring financing | | **Total** | **1,002,674,352.39** | - | [Analysis of Investment Status](index=16&type=section&id=VI.%20Analysis%20of%20Investment%20Status) The company made a significant non-equity investment of 400 million Yuan during the reporting period, increasing capital in its wholly-owned subsidiary Shouguang Maolong through debt-to-equity conversion, with no other major non-equity, securities, or derivative investments Major Equity Investment During Reporting Period | Investee Company Name | Main Business | Investment Method | Investment Amount (Ten Thousand Yuan) | | :--- | :--- | :--- | :--- | | Shouguang Maolong | Research, production, and sales of new energy equipment materials | Capital Increase | 40,000 | - The company had no use of raised funds, no ongoing significant non-equity investments, and no securities or derivative investments during the reporting period[18](index=18&type=chunk)[127](index=127&type=chunk)[31](index=31&type=chunk)[32](index=32&type=chunk) [Analysis of Major Holding and Participating Companies](index=18&type=section&id=VIII.%20Analysis%20of%20Major%20Holding%20and%20Participating%20Companies) Both major subsidiaries, Shouguang Baolong and Shouguang Maolong, experienced severe losses and significant revenue declines; Shouguang Baolong's revenue fell 95.60% with a loss of 24.05 million Yuan, while Shouguang Maolong's revenue dropped 93.83% with a loss of 72.48 million Yuan due to reduced demand and high raw material prices Major Subsidiary Operating Performance (Unit: Yuan) | Company Name | Operating Revenue | Operating Revenue Year-on-Year Change | Net Profit | | :--- | :--- | :--- | :--- | | **Shouguang Baolong** | 16,769,187.92 | -95.60% | (24,054,167.99) | | **Shouguang Maolong** | 59,130,557.05 | -93.83% | (72,477,719.93) | [Risks Faced by the Company and Countermeasures](index=19&type=section&id=X.%20Risks%20Faced%20by%20the%20Company%20and%20Countermeasures) The company faces market, raw material price, policy, exchange rate, and interest rate risks, stemming from energy industry cycles, cost pressures, tightening environmental regulations, and macroeconomic financial changes, which it addresses through product structure adjustments, price locking, increased environmental investment, and financial market monitoring - The company faces risks including: - **Market risk**: Energy industry prosperity and oil price fluctuations directly impact company operations - **Raw material price fluctuation risk**: Directly affects product manufacturing costs - **Policy risk**: Increasingly stringent safety and environmental policies may increase environmental compliance costs - **Exchange rate risk**: RMB exchange rate changes affect operating performance - **Interest rate risk**: Market interest rate changes affect the fair value or future cash flows of financial instruments[23](index=23&type=chunk)[24](index=24&type=chunk)[25](index=25&type=chunk)[26](index=26&type=chunk)[27](index=27&type=chunk) [Disclosures Under HKEX Listing Rules](index=19&type=section&id=XI.%20Disclosures%20Under%20HKEX%20Listing%20Rules) As per HKEX rules, the company's total operating revenue for H1 2023 was 798.42 million Yuan (down year-on-year), with a net loss of 163.93 million Yuan (narrowed from prior year); total assets were 3.72 billion Yuan, total liabilities 2.97 billion Yuan, and a debt-to-asset ratio of approximately 79.94%; no interim dividend was recommended, and the company complied with corporate governance code Financial Summary (RMB Thousand Yuan) | Item | 2023 Half-Year | 2022 Half-Year | | :--- | :--- | :--- | | **Total Operating Revenue** | 798,419 | 1,570,942 | | **Net Loss** | (163,934) | (183,171) | | **Total Assets** | 3,721,541 | 5,047,428 | | **Total Liabilities** | 2,974,997 | 3,871,015 | - As of June 30, 2023, the Group's asset-liability ratio was approximately **79.94%**, an increase from **77.46%** at the end of 2022[168](index=168&type=chunk) - The Board does not recommend the payment of any interim dividend for the six months ended June 30, 2023[179](index=179&type=chunk) - The company has fully adopted all code provisions of the HKEX Corporate Governance Code, with no deviations during the reporting period[147](index=147&type=chunk)[155](index=155&type=chunk) [Corporate Governance](index=27&type=section&id=Item%204.%20Corporate%20Governance) This section details changes in the company's board, supervisory board, and senior management, as well as profit distribution plans [Changes in Directors, Supervisors, and Senior Management](index=27&type=section&id=II.%20Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, significant personnel changes occurred, with former Chairman Yang Yunlong and Director Liu Jilu resigning for personal work arrangements, and Mr. Yuan Rui elected as the new Chairman, alongside Mr. Zhao Xiaotong and Ms. Zhang Min as new directors Senior Management Changes | Name | Position Held | Type | Date | Reason | | :--- | :--- | :--- | :--- | :--- | | Yang Yunlong | Chairman, Director | Resigned | February 24, 2023 | Resigned due to personal work arrangements | | Yuan Rui | Chairman | Elected | February 24, 2023 | Elected by the Board of Directors | | Liu Jilu | Director | Resigned | April 7, 2023 | Resigned due to personal work arrangements | | Zhao Xiaotong | Director | Elected | May 19, 2023 | Elected by the Shareholders' Meeting and Board of Directors | | Zhang Min | Director | Elected | May 19, 2023 | Elected by the Shareholders' Meeting and Board of Directors | [Profit Distribution and Capital Reserve Conversion to Share Capital in the Reporting Period](index=28&type=section&id=III.%20Profit%20Distribution%20and%20Capital%20Reserve%20Conversion%20to%20Share%20Capital%20in%20the%20Reporting%20Period) The company plans no profit distribution for the 2023 semi-annual period, meaning no cash dividends, bonus shares, or capital increase from capital reserves - The company plans no cash dividends, bonus shares, or capital increase from capital reserves for the semi-annual period[192](index=192&type=chunk) [Environmental and Social Responsibility](index=29&type=section&id=Item%205.%20Environmental%20and%20Social%20Responsibility) This section outlines the company's environmental protection efforts as a key polluter and its commitment to social responsibility, including employee welfare and community engagement [Significant Environmental Issues](index=29&type=section&id=I.%20Significant%20Environmental%20Issues) The company and its subsidiaries are key polluting units, strictly adhering to environmental policies, investing 1.65 million Yuan in environmental governance, paying 19,600 Yuan in environmental taxes, maintaining comprehensive wastewater and exhaust gas treatment facilities, and having emergency plans, with no administrative penalties for environmental issues during the period - The company and its subsidiaries are designated as **key polluting units** and hold valid pollutant discharge permits[196](index=196&type=chunk)[197](index=197&type=chunk) Environmental Investment and Taxes During Reporting Period | Item | Amount (Ten Thousand Yuan) | | :--- | :--- | | Environmental Governance and Protection Investment | 164.73 | | Environmental Protection Tax Paid | 1.96 | - During the reporting period, the company received no administrative penalties for environmental issues[4](index=4&type=chunk) [Social Responsibility](index=32&type=section&id=II.%20Social%20Responsibility) The company fulfills its social responsibilities by improving governance, safeguarding shareholder rights, caring for employees, and actively participating in public welfare, including providing 52,000 Yuan in aid to employees and organizing blood donation drives - The company protects shareholder rights by establishing a sound governance structure and internal control system, and by holding general meetings with a combination of on-site and online voting[8](index=8&type=chunk) - The company values employee rights, provides social insurance, and established a hardship assistance fund, distributing **52,000 Yuan** in 2023[9](index=9&type=chunk) - In 2023, the company organized **1 voluntary blood donation** public welfare activity, actively participating in social welfare undertakings[118](index=118&type=chunk) [Significant Matters](index=33&type=section&id=Item%206.%20Significant%20Matters) This section covers commitments, significant related party transactions, major contracts, and important matters concerning company subsidiaries [Commitments](index=33&type=section&id=I.%20Commitments) During the reporting period, there were no unfulfilled or overdue commitments from the actual controller, shareholders, related parties, acquirers, or the company - The company had no significant commitments requiring disclosure during the reporting period[14](index=14&type=chunk) [Significant Related Party Transactions](index=34&type=section&id=XI.%20Significant%20Related%20Party%20Transactions) No significant related party transactions related to daily operations occurred, but there were related party debt and credit transactions; the company received interest-free financial assistance from Shouguang Jinxin, the controlling shareholder's controlling shareholder, with an outstanding balance of 80 million Yuan at period-end - The company had no related party transactions related to daily operations, nor related party transactions involving asset or equity acquisitions/disposals during the reporting period[371](index=371&type=chunk)[372](index=372&type=chunk) Related Party Debt and Credit Transactions | Related Party | Relationship | Reason for Formation | Beginning Balance (Ten Thousand Yuan) | New Additions in Current Period (Ten Thousand Yuan) | Repayments in Current Period (Ten Thousand Yuan) | Ending Balance (Ten Thousand Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Shouguang Jinxin | Controlling shareholder's controlling shareholder | Financial assistance | 0 | 23,700 | 15,700 | 8,000 | - The company accepted interest-free loans of up to **500 million Yuan** from related party Shouguang Jinxin, with a term not exceeding 1 year[399](index=399&type=chunk) [Significant Contracts and Their Performance](index=36&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) The company had no trusteeship or contracting arrangements; it engaged in two sale-and-leaseback financing lease transactions for up to 60 million Yuan and 85 million Yuan respectively, and newly leased an office building for business operations - The company engaged in sale-and-leaseback transactions with Changjiang United Financial Leasing Co., Ltd. and Zhejiang Zhongda Yuantong Financial Leasing Co., Ltd., using some production equipment as collateral for financing[390](index=390&type=chunk)[401](index=401&type=chunk) [Significant Matters Concerning Company Subsidiaries](index=38&type=section&id=XIV.%20Significant%20Matters%20Concerning%20Company%20Subsidiaries) During the reporting period, the company significantly increased capital in its wholly-owned subsidiary Shouguang Maolong by 400 million Yuan through debt-to-equity conversion, with the relevant industrial and commercial changes completed on May 22, 2023 - The company increased capital in its wholly-owned subsidiary Shouguang Maolong by **400 million Yuan** through debt-to-equity conversion[419](index=419&type=chunk) [Share Changes and Shareholder Information](index=39&type=section&id=Item%207.%20Share%20Changes%20and%20Shareholder%20Information) This section details the company's share capital structure and major shareholder information as of the reporting period end [Share Change Information](index=39&type=section&id=I.%20Share%20Change%20Information) As of the reporting period end, the company's total share capital was 797,848,400 shares, with unrestricted shares accounting for 99.99% and restricted shares for 0.01%; no changes occurred in total share capital or structure during the period Share Structure | Share Type | Quantity (Shares) | Proportion | | :--- | :--- | :--- | | **I. Restricted Shares** | 104,625 | 0.01% | | **II. Unrestricted Shares** | 797,743,775 | 99.99% | | Of which: RMB Ordinary Shares | 541,617,375 | 67.88% | | Overseas Listed Foreign Shares | 256,126,400 | 32.10% | | **III. Total Shares** | **797,848,400** | **100.00%** | [Number of Shareholders and Shareholding Information](index=41&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) As of the reporting period end, the company had 39,651 common shareholders; the top three were Shouguang Molong Holding Co., Ltd. (29.53%), HKSCC Nominees Limited (13.19%), and Shandong Zhimeng Holding Co., Ltd. (8.23%), with some shareholders having concerted action relationships - At the end of the reporting period, the total number of common shareholders was **39,651**, comprising **39,609 A-share** holders and **42 H-share** holders[412](index=412&type=chunk) - Shareholders Shandong Zhimeng Holding Co., Ltd., Shouguang Hongsen Logistics Co., Ltd., Shouguang Panjin Real Estate Co., Ltd., and Shouguang Ruisen New Building Materials Co., Ltd. are parties acting in concert[413](index=413&type=chunk)[425](index=425&type=chunk) [Information on Preferred Shares](index=44&type=section&id=Item%208.%20Information%20on%20Preferred%20Shares) This section confirms the absence of preferred shares during the reporting period [Preferred Shares](index=44&type=section&id=8.1%20Preferred%20Shares) The company had no preferred shares during the reporting period - The company had no preferred shares during the reporting period[455](index=455&type=chunk) [Information on Bonds](index=45&type=section&id=Item%209.%20Information%20on%20Bonds) This section confirms the absence of bond-related situations during the reporting period [Bonds](index=45&type=section&id=9.1%20Bonds) The company had no bond-related situations during the reporting period - The company had no bond-related matters during the reporting period[434](index=434&type=chunk) [Financial Report](index=46&type=section&id=Item%2010.%20Financial%20Report) This section presents the company's unaudited semi-annual financial statements, including the consolidated balance sheet, income statement, and cash flow statement, along with detailed notes and risk disclosures [Financial Statements](index=46&type=section&id=II.%20Financial%20Statements) The company's 2023 semi-annual financial report is unaudited; the consolidated balance sheet as of June 30, 2023, shows total assets of 3.72 billion Yuan, total liabilities of 2.97 billion Yuan, and equity attributable to parent company owners of 830 million Yuan; the consolidated income statement shows operating revenue of 798 million Yuan and a net loss of 164 million Yuan (158 million Yuan attributable to parent company) for the half-year; the consolidated cash flow statement shows net cash flow from operating activities of (23.77 million Yuan) - The company's semi-annual financial report is unaudited[435](index=435&type=chunk) Key Data from Consolidated Balance Sheet (June 30, 2023) | Item | Amount (Yuan) | | :--- | :--- | | **Total Current Assets** | 1,428,910,478.13 | | **Total Non-current Assets** | 2,292,630,971.29 | | **Total Assets** | 3,721,541,449.42 | | **Total Current Liabilities** | 2,844,140,833.18 | | **Total Non-current Liabilities** | 130,856,348.80 | | **Total Liabilities** | 2,974,997,181.98 | | **Total Equity Attributable to Parent Company Owners** | 829,910,098.20 | | **Total Owners' Equity** | 746,544,267.44 | Key Data from Consolidated Income Statement (2023 Half-Year) | Item | Amount (Yuan) | | :--- | :--- | | **Total Operating Revenue** | 798,419,015.10 | | **Total Operating Costs** | 959,074,308.28 | | **Operating Profit** | (163,777,582.87) | | **Total Profit** | (162,475,380.64) | | **Net Profit** | (163,933,635.03) | | **Net Profit Attributable to Parent Company Shareholders** | (158,242,397.13) | Key Data from Consolidated Cash Flow Statement (2023 Half-Year) | Item | Amount (Yuan) | | :--- | :--- | | **Net Cash Flow from Operating Activities** | (23,770,597.65) | | **Net Cash Flow from Investing Activities** | (4,053,463.91) | | **Net Cash Flow from Financing Activities** | 40,211,252.36 | | **Net Increase in Cash and Cash Equivalents** | 14,160,456.10 | [Notes to Consolidated Financial Statements](index=95&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statements) Financial statement notes detail account compositions and changes; 433.13 million Yuan of monetary funds were restricted at period-end; accounts receivable and notes receivable had impairment provisions based on expected credit loss model; inventory had a book value of 509 million Yuan with 18.61 million Yuan in impairment; short-term borrowings of 2.06 billion Yuan were the main liability; government grants related to assets were recognized, and impairment provisions were made for subsidiary investments - As of the period end, the company's monetary funds totaled **454 million Yuan**, of which **433.13 million Yuan** were restricted due to guarantees, litigation freezes, and other reasons[800](index=800&type=chunk)[801](index=801&type=chunk) - Accounts receivable had a book balance of **470 million Yuan** at period-end, with **105 million Yuan** in bad debt provisions, resulting in a book value of **364 million Yuan**[807](index=807&type=chunk) - Inventory had a book value of **509 million Yuan** at period-end, with raw materials being the largest component, and **18.61 million Yuan** in inventory impairment provisions recognized[847](index=847&type=chunk)[242](index=242&type=chunk) - Short-term borrowings at period-end amounted to **2.06 billion Yuan**, an increase from the beginning of the period, representing the company's most significant liability item[864](index=864&type=chunk) [Risks Related to Financial Instruments](index=139&type=section&id=X.%20Risks%20Related%20to%20Financial%20Instruments) The company faces market risks (exchange rate, interest rate, price), credit risk, and liquidity risk, managed by adjusting sales policies, maintaining appropriate fixed/floating rate borrowing ratios, monitoring customer credit, and ensuring sufficient bank credit lines; sensitivity analysis shows a 5% RMB appreciation would increase net profit by 5.04 million Yuan, while a 1% interest rate rise would decrease net profit by 1.41 million Yuan - The company's exchange rate risk primarily relates to **USD, HKD, and EUR**, managed by favorable settlement terms in contracts and adjusting sales policies[1021](index=1021&type=chunk) - The company's interest rate risk stems from financial institution borrowings, managed by maintaining an appropriate proportion of fixed and floating rate contracts; at period-end, floating rate borrowings were **445 million Yuan**, and fixed rate borrowings were **1.70 billion Yuan**[929](index=929&type=chunk) - The company manages liquidity risk by ensuring sufficient cash flow; at period-end, unused financial institution credit lines totaled **459 million Yuan**[1028](index=1028&type=chunk) [Related Parties and Related Party Transactions](index=143&type=section&id=XII.%20Related%20Parties%20and%20Related%20Party%20Transactions) The company's ultimate controlling party is Shouguang State-owned Assets Supervision and Administration Bureau; related party transactions primarily involved intercompany loans and guarantees, with Shouguang Jinxin providing interest-free financial assistance (80 million Yuan outstanding) and guarantees for financing lease, and the company providing mortgage guarantees for Shouguang Maolong's financial services - The company's controlling shareholder is Shouguang Molong Holding Co., Ltd., and the actual controller is **Shouguang State-owned Assets Supervision and Administration Bureau**[1051](index=1051&type=chunk) - Related party Shouguang Jinxin provided interest-free loans of up to **500 million Yuan** to the company, with multiple borrowings during the reporting period and an outstanding balance of **80 million Yuan** at period-end[967](index=967&type=chunk)[1105](index=1105&type=chunk) - Related party Shouguang Jinxin provided a joint liability guarantee for the company's **60 million Yuan** financing lease; concurrently, the company provided a mortgage guarantee for its subsidiary Shouguang Maolong's financial services of up to **200 million Yuan**[1059](index=1059&type=chunk)[1060](index=1060&type=chunk)