Financial Performance - The company reported a net loss of 719 million yuan attributable to shareholders, primarily due to asset impairment provisions and the impact of COVID-19 on operations[6]. - The company's operating revenue for 2021 was ¥420,559,433.64, a decrease of 39.57% compared to ¥695,937,681.19 in 2020[25]. - The net profit attributable to shareholders for 2021 was -¥719,044,312.82, an improvement of 40.53% from -¥1,209,103,633.94 in 2020[25]. - The net cash flow from operating activities was ¥37,767,966.40, down 77.38% from ¥166,947,284.08 in 2020[25]. - The total assets at the end of 2021 were ¥2,138,637,789.55, a decrease of 38.34% from ¥3,468,215,504.10 at the end of 2020[25]. - The net assets attributable to shareholders decreased by 82.87% to ¥158,259,738.88 at the end of 2021 from ¥923,956,396.08 at the end of 2020[25]. - The basic earnings per share for 2021 was -¥1.01, an improvement of 40.59% from -¥1.70 in 2020[25]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2021, representing a year-over-year increase of 15%[51]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2021, representing a year-over-year increase of 15%[54]. - The company reported a total revenue of 763.07 million for the fiscal year 2021[172]. Revenue and Market Trends - The management anticipates a favorable external operating environment over the next three to five years, driven by increased investment budgets from oil and gas companies[7]. - The company expects a revenue growth of 20% for the upcoming fiscal year, driven by new product launches and market expansion strategies[51]. - The company provided a revenue guidance for 2022, projecting a growth rate of 10% to 12%[54]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[51]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share in the region by 2025[56]. - The company is exploring potential acquisitions to enhance its technology portfolio and market reach[54]. - The company aims to optimize its energy service business to improve asset operation efficiency and achieve new breakthroughs in core precision instruments and high-end equipment manufacturing[131]. - The company plans to accelerate the development of energy technology businesses to enhance overall profitability, focusing on automation and digitalization in high-end equipment manufacturing[131]. Research and Development - Investment in R&D increased by 30% year-over-year, focusing on advanced oil and gas exploration technologies[52]. - The company is investing in R&D for high-performance seismic data processing cloud platforms, aiming to improve operational efficiency[54]. - The company has developed a comprehensive suite of over 20 oil and gas exploration and development software products, establishing a significant technological barrier in the industry[48]. - The company’s research institute has developed several proprietary software products and holds national patents, including the NSAI system, which is an AI-based near-surface analysis software[41]. - The company is actively pursuing new strategies for market expansion and technological enhancement in the energy sector[75]. - The company is committed to enhancing its operational efficiency through the implementation of advanced software solutions[67]. - The company is focusing on new technology development to drive future growth and innovation[174]. Software and Technology - The company has established a complete energy service industry chain, integrating software development, engineering execution, and equipment manufacturing capabilities[49]. - The company operates a professional data center with supercomputing capabilities, achieving a floating-point calculation speed exceeding 22 trillion operations per second[48]. - The company has developed various software systems for seismic data processing and analysis, enhancing its technological capabilities in the industry[61]. - The company has introduced multiple new systems, such as the DvsPro and EAS systems, aimed at optimizing exploration and investment evaluations, with the latest versions released in 2018[66]. - The company has developed a method for rapid time-depth conversion of seismic data based on velocity models, which is now authorized[78]. - The company has a patent for a method of predicting oil and gas sweet spots, which is also authorized[78]. - The company is exploring new technologies and product development to drive future growth and competitiveness in the market[158]. Governance and Management - The company has established a performance evaluation and incentive system for senior management, ensuring transparency and compliance with relevant laws and regulations[143]. - The board of directors consists of 13 members, including 5 independent directors, ensuring a fair and transparent selection process[141]. - The company has a dedicated financial accounting department and an independent accounting system to maintain financial independence[145]. - The company has faced issues with timely and accurate information disclosure, and the new board will strictly adhere to disclosure obligations[142]. - The company has a structured remuneration decision-making process involving the board's compensation committee and shareholder approval[170]. - The company is committed to maintaining transparency and compliance with regulatory requirements following recent administrative measures taken against former board members[154]. Risks and Challenges - The company faces industry risks due to macroeconomic conditions and fluctuating oil prices, impacting market demand and competition[133]. - The company is at risk of talent loss in a highly technical industry, but it is committed to nurturing talent through its postdoctoral and expert workstations[134]. - The company is exposed to risks of intellectual property infringement due to the high market value of its proprietary technologies[135]. - The company faces asset impairment risks due to unstable political and economic conditions in regions where its oil and gas assets are located[135]. - The company is currently facing significant debt repayment risks due to a large overall debt scale, which conflicts with operational development[136]. - The management plans to strengthen accounts receivable collection and management, explore new financing channels, and accelerate the disposal of inefficient assets to secure more operational funding[136]. Shareholder and Dividend Policies - No cash dividends or stock bonuses will be distributed to shareholders for the reporting period[9]. - The company reported a total cash dividend of 0.00 yuan for the year 2021, indicating no profit distribution due to losses incurred[191]. - The company has not distributed any cash dividends for the past three years, including 2019 and 2020, and will not distribute dividends for 2021[192]. - The profit distribution policy emphasizes a minimum cash dividend of 10% if conditions are met, but the company did not meet these conditions in 2021[192]. - The company’s profit distribution plan for 2021 includes no cash dividends, no stock dividends, and no capital reserve transfers due to the financial situation[192]. Employee and Workforce Management - The total number of employees at the end of the reporting period is 919, with 52 in the parent company and 867 in major subsidiaries[182]. - The professional composition includes 445 production personnel, 59 sales personnel, 171 technical personnel, 54 financial personnel, and 190 administrative personnel[183]. - The company conducts regular and irregular technical training for employees to improve their professional skills[185]. - The company has implemented a salary confidentiality policy to maintain privacy regarding employee compensation[184]. - The company has a performance-based salary distribution principle to enhance employee motivation and productivity[184].

Financial Performance - Revenue for Q3 2021 was ¥74,627,372.99, a decrease of 27.84% compared to the same period last year[3] - Net profit attributable to shareholders was -¥32,689,325.70, an increase of 37.72% in losses year-over-year[3] - Total operating revenue for Q3 2021 was CNY 306.12 million, a decrease of 22.3% from CNY 394.14 million in Q3 2020[25] - Total operating costs for Q3 2021 were CNY 446.55 million, down 15.8% from CNY 530.53 million in Q3 2020[25] - Net profit for Q3 2021 was a loss of CNY 133.97 million, compared to a loss of CNY 149.85 million in Q3 2020, showing an improvement of 10.6%[26] - The total comprehensive loss for Q3 2021 was CNY 134.35 million, compared to a loss of CNY 206.11 million in Q3 2020, indicating a reduction of 34.8%[26] - The company reported a basic and diluted earnings per share of -CNY 0.18 for Q3 2021, an improvement from -CNY 0.22 in Q3 2020[26] Cash Flow and Assets - Cash flow from operating activities decreased by 84.93% year-to-date, totaling ¥17,923,392.47[7] - Cash and cash equivalents increased by 76.68% year-over-year, primarily due to reduced repayments of bank loans[7] - Cash and cash equivalents at the end of Q3 2021 totaled CNY 111.13 million, compared to CNY 100.77 million at the end of Q3 2020[29] - Cash and cash equivalents decreased to CNY 123,485,903.52 from CNY 179,988,840.17, a reduction of about 31.4%[20][21] - Total assets at the end of the reporting period were ¥2,714,581,955.19, a decrease of 21.73% from the previous year[3] - As of September 30, 2021, total current assets decreased to CNY 1,032,408,803.26 from CNY 1,728,022,756.29 at the end of 2020, representing a decline of approximately 40.3%[20][21] - Total liabilities decreased to CNY 1,802,482,368.62 from CNY 2,184,468,441.38, a decline of about 17.4%[22] - Non-current assets totaled CNY 1,682,173,151.93, down from CNY 1,740,192,747.81, indicating a decrease of approximately 3.3%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 44,129[9] - The largest shareholder, Li Liping, holds 14.68% of the shares, amounting to 104,521,480 shares[9] - The second-largest shareholder, Yinchuan Zhongneng New Finance Technology Co., holds 10.67% of the shares, totaling 76,000,000 shares, which are pledged[9] - The company has a total of 5,052,681 restricted shares at the beginning of the period, with 1,262,700 shares released during the period[12] Strategic Decisions - The company plans to acquire a 30% stake in the Yifeng Hengtai Fund, having already paid 42,689,400 RMB for the equity transfer[13] - The company has decided to suspend the construction of the second production base in Chongqing due to strategic adjustments[13] - The company intends to transfer shares of several subsidiaries as part of the strategic restructuring, which will not adversely affect operations[14] - The company is set to become the sole limited partner of the Yifeng Hengtai Fund after acquiring all other partners' shares, holding 99% of the fund's equity[15] - The company plans to repurchase and cancel 13.04% of the shares held by the Yifeng Hengtai Fund as part of debt resolution efforts[16] - The company will transfer 40.98% of its subsidiary Aohua Electronics for 151,621,560 RMB[16] Financial Adjustments and Reporting - The company has implemented new leasing standards starting from 2021, but there are no adjustments to prior comparative data[30] - The financial statements for the first year of the new leasing standards do not apply to the current report[30] - The company’s board of directors has acknowledged the unaudited status of the third quarter report[30] - There are no significant changes in financial reporting due to the new leasing standards for the current year[30] - The financial report does not include any significant adjustments or restatements from previous periods[30] - The third quarter report of the company has not been audited[30] Other Financial Metrics - Financial expenses decreased by 39.73% year-over-year, primarily due to reduced bank borrowings[6] - Other income increased by 493.75% year-over-year, mainly from increased government subsidies[6] - Investment income surged by 1928.25% year-over-year, attributed to gains from the disposal of subsidiaries[6] - The company incurred financial expenses of CNY 56.47 million in Q3 2021, down 39.7% from CNY 93.69 million in Q3 2020[25] - The company reported a decrease in research and development expenses to CNY 21.13 million, slightly down from CNY 21.53 million in the same quarter last year[25] - Investment activities generated a net cash inflow of CNY 35,919.20, a recovery from a net outflow of CNY 968,518.73 in the previous year[29] Market and Future Outlook - The company has not provided any performance guidance or future outlook in the current report[30] - No new products or technologies have been mentioned in the current report[30] - There are no updates on market expansion or mergers and acquisitions in the current report[30] - The company has not disclosed any new strategies in the current report[30]

Financial Performance - The company's operating revenue for the reporting period was CNY 231.49 million, a decrease of 20.37% compared to the same period last year[21]. - The net profit attributable to shareholders was CNY -93.98 million, showing an improvement of 7.97% year-on-year[21]. - The net cash flow from operating activities was CNY -31.74 million, a decline of 127.53% compared to the previous year[21]. - Total assets at the end of the reporting period were CNY 2.82 billion, down 18.58% from the end of the previous year[21]. - The company's total liabilities amounted to CNY 188.35 million, resulting in a debt-to-asset ratio of 66.70%, an increase of 3.71 percentage points from the previous year[28]. - The company reported a total of CNY 13.30 million in non-recurring gains and losses for the period[25]. - The gross margin improved to 45%, up from 40% in the previous year, indicating better cost management and pricing strategies[42]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the first half of 2021, representing a year-over-year growth of 25%[41]. - The company reported a revenue of 1.5 billion RMB for the first half of 2021, representing a year-over-year increase of 20%[43]. - The company expects a revenue growth of 10% for the second half of 2021, projecting total revenue to reach approximately 3.3 billion RMB for the full year[46]. Research and Development - The company is investing 100 million RMB in R&D for new technologies aimed at improving data processing capabilities[41]. - The company is investing 200 million RMB in R&D for new technologies in seismic data interpretation[44]. - The company has a dedicated energy technology research institute as part of its structure[12]. - The company has developed a complete data processing software system for seismic data, including proprietary software with multiple patents, achieving a floating-point computation speed of over 20 trillion operations per second[34]. - The company has advanced technology in oil and gas exploration software, with a comprehensive suite of commercialized geophysical and geological software, establishing significant industry barriers[39]. - The company is focusing on developing integrated oil and gas exploration software platforms, with a projected completion date in early 2022[50]. - The company has a strong emphasis on R&D, with multiple patents related to compressor technology and turbine control systems, indicating a commitment to innovation[77]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[41]. - The company aims to increase its international sales by 30% in the next fiscal year[44]. - The company is exploring potential acquisitions to enhance its technology portfolio, with a budget of 500 million RMB allocated for this purpose[46]. - The company has established a new business development segment that includes supply chain management and financing services, primarily targeting small and medium enterprises in the petrochemical sector[35]. - The company is actively developing new products in the fields of energy equipment and military applications, leveraging its certifications and partnerships[30]. - The company is expanding its product development and market reach in various sectors, including petrochemicals and energy storage[107]. Risk Management - The company emphasizes the importance of understanding the risks associated with future plans and performance forecasts[4]. - The report includes a section on risk factors and countermeasures faced by the company[4]. - The company has recognized the risk of goodwill impairment due to acquisitions, emphasizing the importance of effective goodwill management[104]. - The company has implemented measures to address accounts receivable recovery risks, including establishing a customer credit system and optimizing financial structures[105]. Corporate Governance - All directors attended the board meeting to review the report[4]. - The financial report is guaranteed to be true, accurate, and complete by the company's management[3]. - The company has not distributed cash dividends, issued bonus shares, or increased capital from reserves[5]. - The semi-annual financial report has not been audited[121]. - The board acknowledged the non-standard audit report for the previous year, affirming the report's fair reflection of the company's financial status[122]. Legal and Compliance - The company is involved in significant litigation matters, with a case involving a claim amount of 85.68 million yuan, which has not yet entered formal trial[124]. - The company has been involved in arbitration related to the equity transfer agreement, which has been completed[124]. - The company has received a court ruling regarding jurisdiction in a related case, affirming the jurisdiction of the Shenyang Intermediate People's Court[124]. - The company has a history of issuing guarantees for offshore loan contracts, which are subject to specific repayment terms[129]. Intellectual Property - As of June 30, 2021, the company holds a total of 33 patents, including 26 authorized invention patents, 4 accepted invention patents, 1 authorized design patent, and 2 authorized utility model patents[68]. - The company has achieved a significant increase in its patent portfolio, with a focus on innovative technologies in seismic data processing and reservoir analysis[68]. - The company has established a strong presence in the market with subsidiaries holding multiple trademarks and patents, enhancing its competitive edge[66]. Financial Obligations - The company has a loan of RMB 900,000,000 from Suzhou Bank, which was not repaid by the due date, leading to a court enforcement application[131]. - The company has a frozen bank account with a total amount of RMB 9,360,053 due to the enforcement actions taken by Suzhou Bank[131]. - The company is required to repay €650,000 before April 20, 2021, and an additional €650,000 before June 20, 2021[131]. - The company has incurred penalties calculated at a daily rate of 0.05% on the outstanding amounts since September 29, 2020[129].

Financial Performance - The company's operating revenue for the reporting period was ¥290,721,725.48, a decrease of 50.37% compared to ¥585,783,477.76 in the same period last year[30]. - The net profit attributable to shareholders of the listed company was -¥102,116,556.40, representing a decline of 111.93% from -¥48,183,752.47 in the previous year[30]. - The net cash flow from operating activities was ¥115,314,219.69, a significant improvement of 152.59% compared to -¥219,271,870.66 in the same period last year[30]. - The total assets at the end of the reporting period were ¥4,234,407,403.30, down 7.04% from ¥4,555,030,571.32 at the end of the previous year[30]. - The net assets attributable to shareholders of the listed company decreased by 4.16% to ¥2,110,177,222.54 from ¥2,201,678,818.19 at the end of the previous year[30]. - The basic earnings per share for the reporting period was -¥0.14, a 100% decline from -¥0.07 in the same period last year[30]. - The diluted earnings per share also stood at -¥0.14, reflecting the same percentage decline as the basic earnings per share[30]. - The weighted average return on net assets was -4.75%, a decrease of 3.28% compared to -1.47% in the previous year[30]. - The company reported a total profit of -95.12 million yuan, representing a decline of 142.79% year-on-year[102]. - The total liabilities were 1.76 billion yuan, with a debt-to-asset ratio of 41.48%, down 1.74 percentage points from the end of the previous year[102]. Business Strategy and Development - The company has completed acquisitions of several key companies, including Langfang New Saipu and Xian Aohua, to build a comprehensive energy service company with a relatively complete industrial chain[9]. - The company is actively involved in managing funds established for investments, which may have long investment cycles and uncertain returns[13]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its product offerings[58]. - The company aims to optimize its industrial structure and enhance overall profitability through financial means and strategic adjustments[141]. - The company is focused on talent retention and development, emphasizing the importance of skilled personnel in the energy exploration and development sector[137]. Research and Development - The company has established a post-doctoral workstation and an academician expert workstation to cultivate high-quality technical and management talent, ensuring a positive talent management cycle[7]. - The company reported a 30% increase in R&D investment, focusing on innovative solutions for oil and gas exploration[57]. - The company is investing heavily in R&D, with a budget increase of 30% for the development of advanced seismic data processing technologies[62]. - The company has made significant advancements in its research and development, particularly in the field of oil and gas exploration technologies, as evidenced by its patent filings[89]. - The company is focusing on expanding its patent portfolio, with a total of 18 authorized patents in various innovative technologies[96]. Market Conditions and Risks - The international oil price has shown significant volatility, with WTI and Brent prices around $66 and $74 per barrel, respectively, before a sharp decline in March 2020 due to OPEC+ negotiations collapsing[5]. - The company has acknowledged the potential impact of external factors such as political and economic changes on its operations[15]. - The company faces challenges in attracting and retaining high-quality technical personnel due to the industry's complexity and high demand for expertise[6]. - The company recognizes the risk of goodwill impairment due to significant goodwill generated from acquisitions since its listing in 2011, which requires annual impairment testing[138]. - There is a risk of intellectual property infringement, particularly concerning proprietary technologies developed by the company[137]. Software and Technology - The company operates in high-tech energy services, focusing on software development, cloud computing, and high-end equipment manufacturing[38]. - The company has developed over 20 sets of oil and gas exploration and development software products, achieving a leading position in domestic and international markets[54]. - The company has a complete data processing software system with independent intellectual property rights, including advanced seismic data processing tools[44]. - The company is actively developing VR/AR technologies to enhance its software offerings and create new business opportunities in the energy sector[48]. - The software copyrights held by Hengtai Aipu Group cover various applications, including gas field development and production diagnosis systems, enhancing operational efficiency[77]. Shareholder Structure - The total number of common shareholders at the end of the reporting period is 29,905[195]. - The largest shareholder, Yinchuan Zhongneng New Finance Technology Co., Ltd., holds 10.67% of shares, totaling 76,000,000 shares, which are pledged[196]. - The top ten shareholders do not include any strategic investors or general corporations due to no new share placements[197]. - There were no changes in the controlling shareholder or actual controller during the reporting period[198]. - The company has maintained consistent shareholder agreements to coordinate voting rights among major shareholders[197].

Financial Performance - Total revenue for Q1 2020 was ¥61,559,420.67, a decrease of 81.02% compared to ¥324,262,195.21 in the same period last year[8]. - Net profit attributable to shareholders was -¥56,086,561.20, representing a decline of 1,796.44% from -¥2,957,461.82 year-on-year[8]. - Basic and diluted earnings per share were both -¥0.08, a decrease of 1,900.00% compared to the previous year[8]. - The company reported a net loss of ¥1,174,779,490.15, compared to a loss of ¥1,118,692,928.95 in the previous period, indicating a worsening of approximately 5%[36]. - The net loss for Q1 2020 was CNY 58,980,708.29, compared to a net loss of CNY 7,965,740.25 in the same period last year[44]. - The company reported a total comprehensive income of -29,160,952.12 CNY for the first quarter, which is a decline from -24,663,034.77 CNY in the previous year[49]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥43,804,118.00, a 121.34% increase from -¥205,219,952.95 in the previous year[8]. - Cash and cash equivalents decreased by 55.86% compared to the previous period, primarily due to the repayment of loans to financial institutions[18]. - Total cash and cash equivalents at the end of the period were 126,387,827.28 CNY, down from 403,542,560.93 CNY at the end of the previous year, reflecting a decrease of approximately 68.7%[53]. - Cash inflow from operating activities totaled 312,998,454.04 CNY, compared to 242,975,136.05 CNY in the previous year, representing an increase of about 28.8%[52]. - Cash outflow from operating activities was 269,194,336.04 CNY, down from 448,195,089.00 CNY in the previous year, showing a reduction of approximately 40%[52]. - The net cash flow from financing activities was -173,472,299.18 CNY, a significant decrease from 406,597,075.53 CNY in the previous year[56]. Assets and Liabilities - Total assets at the end of the reporting period were ¥4,414,344,432.22, down 3.09% from ¥4,555,030,571.32 at the end of the previous year[8]. - The company's current assets decreased to ¥1,719,649,222.88 from ¥1,913,497,356.39, representing a reduction of about 10.1%[33]. - The total liabilities decreased to ¥1,886,203,970.72 from ¥1,968,509,252.18, indicating a reduction of approximately 4.2%[35]. - The company's equity attributable to shareholders decreased to ¥2,154,933,414.50 from ¥2,201,678,818.19, a decline of about 2.1%[36]. - The total assets of the company were CNY 4,077,865,454.48, a decrease from CNY 4,203,969,383.47[40]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 31,394[12]. - The largest shareholder, Yinchuan Zhongneng New Finance Technology Co., Ltd., held 10.67% of shares[12]. Operational Insights - The company's operating revenue for Q1 was 61.56 million yuan, a decrease of 81.02% year-on-year, mainly due to the impact of COVID-19 and strict pandemic control measures[22]. - Operating costs for Q1 decreased by 80.36% year-on-year, corresponding to the decline in revenue[19]. - The first major customer accounted for 75.23% of total sales, indicating a significant reliance on this customer[24]. Research and Development - The company’s research and development expenditures increased by 54.18% compared to the previous period, reflecting a commitment to innovation[18]. - The company reported a decrease in research and development expenses to CNY 6,947,546.89 from CNY 7,926,310.62 year-on-year[43]. Corporate Governance - The company reported a commitment to maintain independent operations, ensuring that its management and financial systems are not influenced by controlling shareholders[25]. - The company guarantees that its assets and operations are independent, with no interference from controlling parties, ensuring a sustainable business model[26]. - The company has established independent financial departments and accounting systems to maintain financial autonomy[25]. - The company has a structured governance framework, including independent directors and a supervisory board, to uphold corporate governance standards[26]. - The company is focused on maintaining a clear separation between its operations and those of its controlling shareholders to protect shareholder interests[25].

Financial Performance - The company reported a significant amount of goodwill from acquisitions since its listing in 2011, which requires annual impairment testing under accounting standards [12]. - The company's operating revenue for 2019 was ¥1,064,171,650.10, a decrease of 28.50% compared to ¥1,488,450,311.14 in 2018 [30]. - The net profit attributable to shareholders was -¥1,207,531,281.10, representing a decline of 4709.76% from ¥26,195,080.58 in the previous year [30]. - The net cash flow from operating activities was -¥46,771,618.72, a decrease of 135.76% compared to ¥130,786,883.93 in 2018 [30]. - The total assets at the end of 2019 were ¥4,555,030,571.32, down 17.73% from ¥5,536,392,601.60 at the end of 2018 [30]. - The net assets attributable to shareholders decreased by 33.39% to ¥2,201,678,818.19 from ¥3,305,427,068.34 in 2018 [30]. - The basic earnings per share for 2019 was -¥1.70, a decline of 4350.00% from ¥0.04 in 2018 [30]. - The weighted average return on equity was -44.70%, down 45.50% from 0.80% in the previous year [30]. - The company reported a significant decline in net profit excluding non-recurring gains and losses, with a total of -¥1,212,218,337.32 for 2019 compared to ¥1,596,140.50 in 2018, a drop of 76046.84% [30]. - The company reported a total revenue of 1.5 billion RMB for the fiscal year 2019, representing a year-over-year increase of 12% [61]. Business Development and Strategy - The company completed acquisitions of several key firms, including Langfang New Saipu and Xian Aohua, enhancing its position as a comprehensive energy service provider [10]. - The company aims to expand its business into high-end equipment fields and oil and gas pipeline transportation [43]. - The company has initiated the establishment of merger and acquisition funds and industrial investment funds to optimize investment management and expand its industrial chain construction advantages [50]. - The company is actively developing and introducing innovative products to enhance its military equipment manufacturing capabilities [41]. - The company is exploring potential acquisitions in the software sector to enhance its product offerings and market presence [64]. Research and Development - The company has established a postdoctoral workstation and an academician expert workstation to foster talent development in a highly technical industry [8]. - The company plans to invest 200 million RMB in R&D for new technologies over the next three years [61]. - The company is investing in R&D for advanced seismic data processing technologies, with a budget allocation of 200 million RMB for the next fiscal year [64]. - The company has made significant investments in research and development, as evidenced by the introduction of new software and systems aimed at optimizing exploration and production processes [67]. - The company is actively pursuing research and development in oil and gas exploration technologies, with several patents pending in this area [84]. Software and Technology - The company has developed the EPoffice integrated research platform software, which is a customized technical solution for the oil and gas exploration and development industry, enhancing its market position in unconventional oil and gas prediction technologies [45]. - The company’s software segment is recognized as a pioneer in seismic data processing systems, with a high level of commercialization and advanced technology [44]. - The company has developed multiple software solutions for oil and gas exploration, including EPoffice Image+ (V5.3) and EPplatform (V2.3) [66]. - Hengtai Aipu's software solutions are designed to optimize resource evaluation and economic assessment in oil and gas projects, contributing to better investment decisions [70]. - The company has established a comprehensive software development framework, which includes various specialized applications for different aspects of oil and gas engineering [69]. Market and Revenue Trends - The company is expanding its market presence in Southeast Asia, targeting a 20% market share by 2022 [61]. - The company provided a future outlook projecting a revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion [61]. - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2019, representing a year-over-year increase of 15% [64]. - The company aims to reduce operational costs by 10% through efficiency improvements in the next fiscal year [61]. - The company reported a significant increase in receivables due to the rise in bank acceptance bills during the reporting period [53]. Financial Management and Governance - The company plans not to distribute cash dividends or issue bonus shares for the 2019 fiscal year [18]. - The company has a profit distribution policy emphasizing stable returns to investors, with a minimum cash dividend of 10% of the annual profit if conditions are met [162]. - The company’s cash dividend distribution is contingent on achieving an average distributable profit of at least 30% over the last three years [163]. - The company ensures that minority shareholders have opportunities to express their opinions during shareholder meetings [166]. - The company has a structured decision-making process for profit distribution, ensuring transparency and compliance with regulations [165]. Risks and Challenges - The company acknowledges the potential impact of external factors such as political and economic changes on its operations [17]. - The company faces risks related to intellectual property infringement due to the high market value and application of its proprietary technologies [9]. - The company has recognized impairment provisions for long-term equity investments and construction in progress during the reporting period [53]. - The company reported an asset impairment loss of ¥1,066,529,568.75, which accounted for 91.91% of total profit [133]. - The company has experienced a significant change in the proportion of major suppliers and customers due to a reduction in trade business scale [124]. Subsidiaries and Investments - The company’s Hong Kong subsidiary has a total asset scale of approximately 459.52 million, accounting for 14.77% of the company's net assets [55]. - The company has ongoing non-equity investments, but no significant equity investments were reported during the period [146]. - The company has established several new subsidiaries, which are not expected to significantly impact overall performance [155]. - The company has a long-term investment strategy, focusing on self-owned capital management [145]. - The company has a non-operating related party receivable from its wholly-owned subsidiary Chengdu Xiyou United Petroleum and Natural Gas Engineering Technology Co., with a year-end balance of approximately 421.77 million RMB [193].

Financial Performance - Operating revenue for the reporting period was CNY 103,417,145.14, down 30.44% year-on-year, and year-to-date revenue was CNY 394,138,870.62, down 46.34%[7] - Net profit attributable to shareholders was a loss of CNY 52,647,420.18, a decrease of 8.28% year-on-year, with a year-to-date loss of CNY 154,763,976.58, down 59.87%[7] - Basic earnings per share were CNY -0.07, a decrease of 8.28% year-on-year, while diluted earnings per share were also CNY -0.07[7] - The net loss for the third quarter was CNY 54,774,718.69, compared to a net loss of CNY 37,888,820.24 in the same period last year[57] - The net profit for the quarter was a loss of ¥149,847,847.04, compared to a loss of ¥82,535,335.70 in the previous year, representing an increase in loss of 81.5%[65] - The comprehensive loss for the quarter was CNY 115,415,589.98, compared to a loss of CNY 11,798,320.18 in the previous year[58] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,486,988,847.85, a decrease of 1.49% compared to the end of the previous year[7] - The total liabilities rose to CNY 2,124,037,078.68 from CNY 1,968,509,252.18, indicating an increase of approximately 7.9%[48] - The company's total assets decreased to CNY 4,486,988,847.85 from CNY 4,555,030,571.32, a decline of about 1.5%[49] - The total liabilities decreased to CNY 1,851,120,344.95 from CNY 1,906,201,660.87[56] - The total owner's equity decreased to CNY 2,362,951,769.17 from CNY 2,586,521,319.14, a decline of about 8.7%[49] Cash Flow - The net cash flow from operating activities was CNY 3,592,046.12, down 64.25% year-on-year, but increased by 156.83% year-to-date[7] - The net cash flow from operating activities increased by 156.83% year-on-year, mainly due to the return of deposits and the settlement of restricted funds[25] - Cash flow from operating activities generated a net amount of ¥118,906,265.81, a significant recovery from -¥209,225,592.99 in the prior year[72] - Total cash inflow from operating activities was ¥899,251,665.32, while cash outflow was ¥780,345,399.51, resulting in a positive cash flow[72] - The company reported a significant increase in cash inflow from operating activities, which totaled ¥104,458,552.92, compared to ¥349,823,492.61 in the previous period[74] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,044[11] - The top shareholder, Li Liping, held 13.68% of the shares, amounting to 97,400,280 shares[11] Research and Development - Research and development expenses decreased by 32.21% year-on-year, primarily due to a reduction in R&D projects as a result of the pandemic[24] - Research and development expenses were CNY 6,548,693.20, down from CNY 12,893,014.09 in the previous year[56] - Research and development expenses increased to ¥1,348,856.74 from ¥1,121,085.28, reflecting a focus on innovation[67] Financial Management - The company's financial expenses increased by 63.28% year-on-year, mainly due to a decrease in interest income[24] - Financial expenses surged to ¥80,196,521.81, primarily due to interest expenses of ¥75,215,516.74, compared to ¥38,305,807.03 in the previous year[67] Investments and Acquisitions - The company plans to restructure receivables from Range Company by exchanging all receivables for oil field block assets, with a transaction price of $96.5 million, of which $2.5 million will be paid in cash and the remaining $94 million will offset debts owed to the company[29] - The company approved a capital reduction of $13.5 million for Energy Prospecting Technology USA Inc., reducing its investment from $34.75 million to $21.25 million, with $12.02 million already received[30] - The company is establishing the Hai Sheng Langfang Blue Sky Fund with a total initial scale of RMB 300 million, with the company committing to 50% of the fund[31] - The company is also setting up the Fuhua Tongxin Industrial M&A Fund with an initial scale of RMB 1 billion, in collaboration with Dongfang Fuhua[31] Compliance and Legal Matters - The company has received an arbitration notice regarding a claim for equity repurchase and overdue payment, but the arbitration process is currently suspended[36] - The company has no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[39][40] Changes in Equity - Long-term investments in equity rose to CNY 425,479,544.39 from CNY 362,143,105.21, an increase of about 17.5%[47] - Owner's equity totaled CNY 2,188,800,104.17, down from CNY 2,297,767,722.60 in the previous period[56]

Financial Performance - The company's operating revenue for Q1 2021 was ¥87,629,159.75, representing a 42.35% increase compared to ¥61,559,420.67 in the same period last year[7] - The net profit attributable to shareholders was -¥53,684,451.31, a decrease of 26.67% from -¥42,382,334.97 year-on-year[7] - The basic earnings per share for the period was -¥0.08, a decrease of 33.33% from -¥0.06 in the same period last year[7] - The diluted earnings per share also stood at -¥0.08, reflecting the same percentage decrease of 33.33%[7] - The net profit for the first quarter of 2021 was -27,301,488.28 CNY, compared to -16,595,472.67 CNY in the same period last year, indicating a decline in profitability[48] - The total comprehensive income for the first quarter was -27,301,488.28 CNY, reflecting a worsening financial position compared to -16,595,472.67 CNY in the same quarter last year[49] Cash Flow - The net cash flow from operating activities was -¥16,748,375.03, a significant decline of 138.23% compared to ¥43,804,118.00 in the previous year[7] - Cash inflow from operating activities decreased by 43.58% year-on-year, primarily due to lower collection of receivables[16] - The company reported cash inflows from operating activities of 178,178,261.61 CNY, while cash outflows totaled 194,926,636.64 CNY, leading to a net cash outflow from operating activities[52] - The financing activities resulted in a net cash outflow of -57,648,537.93 CNY, compared to -188,899,509.40 CNY in the previous year, showing a reduced cash outflow in financing[53] Assets and Liabilities - The total assets at the end of the reporting period were ¥3,158,781,342.59, down 8.92% from ¥3,468,215,504.10 at the end of the previous year[7] - The company's current assets totaled CNY 1,436,035,219.28, down from CNY 1,728,022,756.29 at the end of 2020, indicating a decrease of about 17.0%[33] - The company's total liabilities were CNY 1,906,856,903.01, down from CNY 2,184,468,441.38, showing a decrease of approximately 12.7%[35] - The total equity attributable to shareholders of the parent company was CNY 880,753,762.07, down from CNY 923,956,396.08, reflecting a decline of about 4.7%[36] Revenue and Costs - Operating costs for Q1 rose by 41.80% year-on-year, correlating with the increase in sales of high-end equipment manufacturing[16] - Total operating costs for Q1 2021 amounted to CNY 142,401,448.97, up from CNY 108,393,709.30 in the previous period[43] - The company's revenue for Q1 increased by 42.35% year-on-year, reaching 87.63 million yuan, primarily due to higher sales in high-end equipment manufacturing[18] Investment and Financing - Investment income in Q1 skyrocketed by 309.34% year-on-year, attributed to gains from equity disposals[16] - Cash inflow from investing activities increased by 59.95% year-on-year, mainly from the disposal of equity stakes in Aohua and Huashengxin[17] - The net cash flow from investment activities was 84,138,650.00 CNY, with total cash inflows of 386,091,650.00 CNY and outflows of 301,953,000.00 CNY[56] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,454[11] - The top five customers accounted for 62.13% of total sales, with the largest customer contributing 28.28% of total sales[19] Risks and Future Plans - The company faces significant risks including industry volatility, talent retention, and potential impairment of goodwill due to acquisitions[20][21] - The company plans to enhance core business growth, improve cash flow, and address short-term debt issues through asset disposals and better receivable management[24]

Financial Performance - The company reported a net profit loss attributable to shareholders of 1.021 billion yuan due to impairment provisions for goodwill, long-term equity investments, fixed assets, and other receivables [4]. - The company's operating revenue for 2020 was ¥695,937,681.19, a decrease of 34.60% compared to ¥1,064,171,650.10 in 2019 [19]. - The net profit attributable to shareholders for 2020 was -¥1,209,103,633.94, showing a slight decrease of 0.13% from -¥1,113,263,626.00 in 2019 [19]. - The total assets at the end of 2020 were ¥3,468,215,504.10, representing a decline of 23.86% from ¥4,596,557,677.00 at the end of 2019 [19]. - The net assets attributable to shareholders decreased by 58.03% to ¥923,956,396.08 in 2020 from ¥2,513,802,456.77 in 2019 [19]. - The basic earnings per share for 2020 was -¥1.70, unchanged from the diluted earnings per share [19]. - The company reported a quarterly operating revenue of ¥301,798,810.57 in Q4 2020, which was the highest among the four quarters [22]. - The net profit attributable to shareholders in Q4 2020 was -¥1,092,536,536.89, significantly impacting the annual results [22]. - The company experienced a significant drop in revenue from ¥1,488,450,311.00 in 2018 to ¥695,937,681.19 in 2020 [19]. - The company has indicated uncertainty regarding its ability to continue as a going concern due to negative net profits over the last three years [19]. Market and Operational Strategy - The company plans to focus on core business areas, ensuring steady growth in main operations and improving quality, efficiency, and profitability [5]. - The management aims to strengthen accounts receivable collection and explore new financing channels to address short-term cash flow difficulties [5]. - The company will focus on deepening existing market penetration while exploring new market opportunities [5]. - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, clarifying that these do not constitute commitments to investors [5]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within the next two years [51]. - The company is exploring partnerships with international firms to leverage new technologies and expand its service offerings [52]. - The company aims to enhance its market presence through continuous software innovation and development of integrated solutions [60]. Research and Development - The company has a strong focus on research and development, particularly in neutron source technology, which has applications across multiple industries [33]. - Investment in R&D increased by 25% year-over-year, focusing on advanced geological data processing technologies [52]. - The company is investing in R&D for advanced seismic interpretation technologies, with a budget allocation of 200 million RMB for 2021 [54]. - The company has allocated 100 million RMB for research and development in new technologies for oil extraction processes [55]. - The company is committed to ongoing research and development to support its growth and market expansion initiatives [79]. Software and Technology - The company’s software segment is a pioneer in seismic data processing systems, holding complete intellectual property rights and leading technology in the domestic market [34]. - The company has developed the EPoffice integrated research platform software, which is a customized technical solution for the oil and gas exploration and development industry, featuring various API interfaces and SDK development packages [35]. - The company has established a comprehensive software portfolio to support various geological analysis and exploration needs [59]. - The software copyrights cover various applications, including seismic data interpretation, reservoir modeling, and gas pipeline calculations, showcasing the company's diverse capabilities [61][62][63]. - The company has developed various software solutions, including EPoffice GeoTalk and EPoffice FRS+, with multiple versions released since 2015 [58]. Acquisitions and Investments - The company completed an asset swap with Range Resources Limited, acquiring 100% equity of Range Resources Trinidad Limited for $2.5 million in cash and $94 million in receivables, gaining exploration rights in multiple oil fields [41]. - The company has completed two strategic acquisitions in the past year, enhancing its capabilities in seismic data processing [51]. - A strategic acquisition of a smaller tech firm for 500 million RMB was completed to enhance its software capabilities [54]. - The company has made significant investments in new product development and market expansion strategies [176]. Financial Management and Cash Flow - The company does not plan to distribute cash dividends or issue bonus shares for the year [6]. - The net cash flow from operating activities for 2020 was ¥166,947,284.08, an increase of 456.94% compared to -¥46,771,618.72 in 2019 [19]. - The company reported a significant reduction in sales volume in the new business development segment, with a decrease of 85.71% in sales volume to 8,321.57 tons [110]. - The company’s cash flow from operating activities must be positive and meet certain thresholds to qualify for cash dividends [150]. Legal and Compliance - The company has not faced any delisting situations following the annual report disclosure [171]. - The company has not reported any significant litigation or arbitration matters during the reporting period [173]. - The company is focused on ensuring compliance with legal obligations and maintaining financial stability amid ongoing litigation [175]. - The company has engaged in a legal settlement regarding a compensation dispute with Beijing Bank, which was mediated in March 2021 [181]. Future Outlook - The company provided a revenue guidance for 2021, projecting a growth rate of 15% to 20% [54]. - The company expects a revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies [51]. - The company plans to implement a new customer relationship management system to enhance user engagement and retention [69]. - The company aims to reduce operational costs by 15% through efficiency improvements and technology integration in the upcoming fiscal year [157].

Financial Performance - Operating revenue for the reporting period was CNY 103,417,145.14, a decline of 30.44% compared to the same period last year[7]. - Net profit attributable to shareholders of the listed company was a loss of CNY 40,581,641.79, representing an 8.69% decrease year-on-year[7]. - The net cash flow from operating activities was CNY 3,592,046.12, down 64.25% year-on-year[7]. - For the first nine months of the year, operating income decreased by 46.34% compared to the same period last year, mainly due to the impact of the COVID-19 pandemic on business expansion[17]. - The company reported a net loss of CNY 1,136,601,357.20, compared to a loss of CNY 1,020,034,260.15 in the previous period[43]. - The net loss for the quarter was CNY 42,071,157.04, compared to a net loss of CNY 25,185,258.60 in the same period last year[51]. - The company reported a comprehensive loss of CNY 102,736,314.01 for the quarter, compared to a comprehensive income of CNY 905,241.46 in the previous period[52]. - The company reported a comprehensive loss of ¥168,299,796.97 for the quarter, compared to a loss of ¥4,304,571.38 in the previous year[60]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,528,491,668.28, a decrease of 1.48% compared to the end of the previous year[7]. - Total current assets decreased from CNY 1,913,497,356.39 to CNY 1,659,778,522.79, a decline of approximately 13.2%[40]. - Total non-current assets increased from CNY 2,683,060,321.04 to CNY 2,868,713,145.49, an increase of about 6.9%[41]. - Total liabilities increased from CNY 1,484,657,686.47 to CNY 1,602,350,992.42, reflecting an increase of approximately 7.9%[42]. - The company's total assets decreased from CNY 4,596,557,677.43 to CNY 4,528,491,668.28, a decline of about 1.5%[43]. - The company's equity attributable to shareholders decreased from CNY 2,513,802,456.77 to CNY 2,347,628,855.49, a decrease of approximately 6.6%[43]. - Total liabilities amounted to CNY 1,484,657,686.47, with total equity at CNY 3,111,899,990.96, resulting in total assets of CNY 4,596,557,677.43[76]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 38,044[11]. - The top shareholder, Li Liping, held 13.68% of the shares, totaling 97,400,280 shares[11]. Cash Flow - The company's cash flow from operating activities showed a significant decline, impacting liquidity and operational flexibility[40]. - Cash and cash equivalents decreased from CNY 392,024,247.83 to CNY 158,213,659.23, a reduction of approximately 59.7%[40]. - The company recorded cash inflow from operating activities totaling ¥899,251,665.32, an increase from ¥676,336,551.92 in the previous period[67]. - Cash flow from financing activities resulted in a net outflow of ¥214,894,483.63, compared to a net inflow of ¥281,613,793.93 in the previous period[71]. Research and Development - The company's research and development expenses decreased by 32.21% year-on-year, primarily due to a reduction in R&D projects as a result of the pandemic[17]. - Research and development expenses were ¥21,528,872.62, a decrease of 32.2% from ¥31,760,335.71 year-on-year[57]. - Research and development expenses increased to ¥1,348,856.74 from ¥1,121,085.28, reflecting a focus on innovation[62]. Financial Expenses - The company's financial expenses increased by 131.75% year-on-year, mainly due to a decrease in interest income[17]. - The company experienced a significant increase in financial expenses, rising to CNY 28,771,740.94 from CNY 5,493,623.59[50]. - Financial expenses increased to ¥55,858,827.95, compared to ¥24,103,340.71 in the same period last year[59]. - The company incurred financial expenses of ¥42,362,001.26, a significant increase from ¥5,027,998.81 in the previous period[62]. Other Financial Activities - Non-operating income included government subsidies amounting to CNY 2,859,011.04[8]. - The company plans to restructure receivables from Range Company by exchanging all receivables for oil field block assets, with a transaction value of $96.5 million, of which $2.5 million will be paid in cash and the remaining $94 million will offset debts owed to the company[24]. - The company approved a capital reduction of $13.5 million for Energy Prospecting Technology USA Inc., reducing its actual investment from $34.75 million to $21.25 million[25]. - The company is establishing the Hai Sheng Langfang Blue Sky Fund with a total initial scale of RMB 300 million, with the company committing to 50% of the fund[26]. - The company is also setting up the Fuhua Tongxin Industrial M&A Fund with an initial scale of RMB 1 billion[26]. - The company has initiated the cancellation of its subsidiary, Tibet Hengtai Aipu Investment Management Co., Ltd., and is transferring its equity in several companies to streamline its asset management[27]. - The company is currently in arbitration regarding a claim for equity repurchase and overdue payment losses, which is temporarily suspended as of October 14, 2020[29]. - The company has not reported any violations regarding external guarantees or non-operational fund occupation by controlling shareholders during the reporting period[33][34].