Financial Performance - Operating revenue for the reporting period was ¥23,818,955.60, a decrease of 2.26% year-on-year, while year-to-date revenue increased by 84.08% to ¥89,114,186.77[7] - Net profit attributable to shareholders was ¥1,746,231.19, representing a significant increase of 140.30% compared to the same period last year, with year-to-date net profit rising by 152.62% to ¥10,673,951.10[7] - Basic earnings per share for the reporting period were ¥0.0055, up 140.74% year-on-year, while year-to-date earnings per share increased by 152.68% to ¥0.0334[7] - Total operating revenue for the current period is CNY 23,818,955.60, a decrease of 2.26% from CNY 24,370,710.27 in the previous period[45] - Operating profit for the current period is CNY 3,538,874.25, compared to a loss of CNY 5,796,977.94 in the previous period[47] - Net profit for the current period is CNY 3,150,129.12, a turnaround from a net loss of CNY 3,999,057.90 in the previous period[47] - Comprehensive income totalled CNY 6,454,571.31, compared to a loss of CNY 4,882,509.09 in the previous period[48] - Total operating revenue for the year-to-date is CNY 89,114,186.77, an increase of 83.93% from CNY 48,411,064.33 in the previous year[54] - Total operating costs for the year-to-date are CNY 80,996,008.23, up from CNY 73,274,159.84, reflecting an increase of 10.86%[54] Assets and Liabilities - Total assets at the end of the reporting period reached ¥1,295,749,248.02, an increase of 2.01% compared to the end of the previous year[7] - Current assets decreased to ¥786,853,917.02 from ¥817,805,531.38, a decline of about 3.8%[38] - Non-current assets rose to ¥508,895,331.00 from ¥452,440,619.05, marking an increase of approximately 12.5%[39] - Total liabilities increased to ¥92,885,102.34 from ¥78,511,934.99, an increase of about 18.3%[40] - Long-term borrowings rose significantly to ¥39,146,087.60 from ¥10,060,654.09, reflecting an increase of approximately 288.5%[40] - Owner's equity increased to ¥1,202,864,145.68 from ¥1,191,734,215.44, a growth of about 0.9%[40] Cash Flow - The net cash flow from operating activities for the year-to-date period was ¥2,827,247.59, reflecting a decrease of 86.49% compared to the previous year[7] - The cash flow from operating activities generated a net amount of CNY 2,827,247.59, a decrease from CNY 20,920,002.35 in the previous period[60] - The total cash inflow from investment activities was ¥28,363,294.40, while the cash outflow was ¥93,237,019.28, resulting in a net cash flow of -¥64,873,724.88, which is a significant increase in losses compared to -¥34,751,613.68 in the previous period[62] - The cash flow from financing activities showed a net increase of ¥20,397,900.42, compared to a net outflow of -¥3,485,885.05 in the previous period[62] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,404[11] - The largest shareholder, Zhou Jinming, held 47.08% of the shares, with 150,640,000 shares pledged[11] Government and Other Income - The company received government subsidies amounting to ¥288,558.86 during the reporting period[8] - Investment income increased by CNY 6,400,174.51, a growth of 296.36%, due to increased returns from bank wealth management products[20] Operational Developments - The company, through its wholly-owned subsidiary, obtained exploration and development rights for the Weizhou 10-3 West oil field in the South China Sea[22] - The company provided a performance guarantee for its subsidiary to ensure the fulfillment of obligations under a significant oil contract with China National Offshore Oil Corporation[23] - The company approved a bank loan guarantee for its subsidiary, with a maximum amount of $12 million for equipment purchase and operational development[24] - The company changed the implementation entity for the Mongolia Ergel-12 block exploration project to optimize management and resource allocation[25] Financial Integrity - There are no violations of external guarantees during the reporting period, indicating a stable financial position[33] - The company has not engaged in any non-operational fund occupation by controlling shareholders or related parties during the reporting period, ensuring financial integrity[34]

Financial Performance - Total operating revenue for the first half of 2018 reached ¥65,295,231.17, an increase of 171.61% compared to ¥24,040,354.06 in the same period last year[18]. - Net profit attributable to shareholders was ¥8,927,719.91, a significant improvement of 155.97% from a loss of ¥15,951,070.72 in the previous year[18]. - Net profit after deducting non-recurring gains and losses was ¥8,749,652.73, up 153.80% from a loss of ¥16,262,472.99 in the same period last year[18]. - Basic earnings per share increased to ¥0.0279 from a loss of ¥0.0498, reflecting a growth of 156.02%[18]. - Operating costs increased to ¥42,628,849.69, reflecting a 71.63% rise from ¥24,838,365.83 due to expanded business operations[40]. - Research and development expenses rose by 33.87% to ¥7,941,290.18, up from ¥5,932,090.38, indicating increased investment in R&D projects[40]. - The company's gross profit margin for oil exploration technology and engineering services improved to 35.52%, up from 39.51% year-on-year, despite a 153.03% increase in revenue[42]. - The company reported a total revenue of 44,451,628 million with a net loss of 1,118,191.6 million for the first half of 2018[69]. - The company reported a net profit attributable to shareholders of 8,927,719.91 CNY, compared to a net loss of 15,951,070.72 CNY in the previous period, indicating a significant turnaround[146]. Cash Flow and Liquidity - The net cash flow from operating activities was ¥13,959,400.58, a decrease of 59.74% compared to ¥34,676,665.81 in the previous year[18]. - The net cash flow from investing activities surged by 2,613.80% to ¥217,475,056.13, compared to ¥8,013,678.76, attributed to the maturity of financial products[40]. - The net increase in cash and cash equivalents was ¥235,079,573.94, a remarkable rise of 551.62% from ¥36,076,141.26, driven by operating and investing activities[40]. - The company has a cash balance of approximately 193.22 million, representing 16.65% of its net assets, ensuring liquidity for ongoing operations[30]. - Cash and cash equivalents at the end of the reporting period totaled ¥683,609,489.0, representing 53.60% of total assets, an increase from 48.08% in the previous year[44]. - The company's cash and cash equivalents increased to ¥683,609,489.02 from ¥454,301,733.72, representing a growth of approximately 50.5%[135]. - The cash flow from investment activities was primarily driven by cash recovered from investments amounting to CNY 207,905,134.55[157]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,275,381,646.08, a slight increase of 0.40% from ¥1,270,246,150.43 at the end of the previous year[18]. - Total liabilities decreased slightly to CNY 50,525,693.20 from CNY 54,490,612.52 at the beginning of the year, reflecting improved financial stability[142]. - The total amount of guarantees provided by the company is 45,319.87 million RMB, with an actual guarantee balance of 5,067.28 million RMB, accounting for 4.37% of the company's net assets[102]. - The company’s total liabilities at the end of the reporting period were 669,289,000.00 CNY, which is a decrease from 731,090,000.00 CNY in the previous period, indicating improved financial stability[162]. Investment and Development - The company is actively participating in bidding for 22 blocks in China's offshore oil and gas exploration, marking its expansion into new regions[28]. - The company has established a professional team for oil and gas exploration and development, enhancing its talent pool to support strategic transformation[32]. - The company has increased long-term receivables due to financing lease activities in its overseas operations[29]. - The company has expanded its investment properties by renting out part of its real estate assets[29]. - The company has committed to using all remaining raised funds for the investment in its wholly-owned subsidiary, Jin Si Nan Energy Co., Ltd.[53]. - The company plans to increase investment in the Bohai 05/31 block due to favorable geological conditions and low exploration costs in the current oil price environment[53]. - The company has invested a total of 128 million yuan in the raised funds, with significant portions directed towards the Bohai 05/31 exploration project[53]. Risk Management - The company has outlined potential risks and corresponding countermeasures in its operational analysis section[4]. - The company faces risks related to overseas operations, including changes in local laws and regulations, which could adversely affect the recovery of accounts receivable[71]. - The company aims to mitigate risks from low oil prices by enhancing R&D efforts and expanding its technical service offerings[71]. - The company faces potential risks from changes in Mongolian laws and regulations that could adversely affect operations[76]. - The company does not rule out the possibility of adverse impacts from uncontrollable factors such as political and natural disasters[76]. Strategic Focus and Future Plans - The company plans to shift its focus from traditional technology services to integrated oil and gas resource services, enhancing operational efficiency and cost savings[52]. - The company aims to improve the efficiency of fund utilization to better promote its development strategy[52]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[145]. - The company has set a revenue guidance of 1.3 billion RMB for the full year 2018, representing a growth target of 10%[84]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by 2020[83]. Corporate Governance and Compliance - The company has not reported any violations in the management of raised funds during the reporting period[55]. - The company has not engaged in derivative investments during the reporting period[65]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[123]. - The company confirms that there are no significant doubts regarding its ability to continue as a going concern for the next 12 months from the reporting date[177]. - The financial statements were approved by the board of directors on August 29, 2018[174]. Shareholder Information - The total number of shares remains at 320 million, with 35.31% being restricted shares and 64.69% being unrestricted shares[115]. - The largest shareholder, Zhou Jinming, holds 47.08% of the shares, totaling 150,640,000 shares[120]. - The company has a registered capital of 320,000,000 CNY as of June 30, 2018, unchanged from the previous year[170].

Financial Performance - Total revenue for Q1 2018 reached ¥33,741,984.52, a significant increase of 643.40% compared to ¥4,538,867.89 in the same period last year[7] - Net profit attributable to shareholders was ¥4,158,382.47, marking a 145.07% improvement from a loss of ¥9,226,848.22 in the previous year[7] - Basic earnings per share increased to ¥0.0130 from a loss of ¥0.0288, reflecting a 145.12% improvement[7] - The company's operating revenue for Q1 2018 reached 33.74 million yuan, representing a significant increase of 643.40% compared to the same period last year[19] - Net profit for Q1 2018 was CNY 4,420,350.11, compared to a net loss of CNY 9,282,291.89 in Q1 2017, indicating a turnaround in profitability[46] - The company's total equity increased to CNY 1,292,176,243.62 from CNY 1,281,007,386.17, reflecting a growth of about 0.87%[43] Cash Flow and Assets - The net cash flow from operating activities was negative at -¥1,765,157.49, a decline of 119.58% compared to ¥9,017,101.35 in the same period last year[7] - Cash received from operating activities increased by 129.74% compared to the previous year, primarily due to project prepayments received[19] - The company's cash and cash equivalents decreased from CNY 454,301,733.72 at the beginning of the period to CNY 385,562,570.99 at the end of the period, representing a decline of approximately 15.1%[37] - The cash and cash equivalents at the end of the period stood at $126,538,052.59, compared to $110,716,062.96 at the end of the previous period, reflecting an increase of about 14.3%[59] Shareholder Information - The company has a total of 17,551 ordinary shareholders as of the end of the reporting period[15] - The largest shareholder, Zhou Jinming, holds 47.08% of the shares, amounting to 150,640,000 shares, with 112,980,000 shares pledged[15] - The second-largest shareholder, Zhou Zilong, owns 10.91% of the shares, totaling 34,926,000 shares, which are also pledged[15] Investment and Exploration - The company has committed approximately $35.56 million for exploration activities in the Ergel-12 contract area over the 8-year exploration period[13] - The exploration and extraction period for the Ergel-12 contract is set for a total of 33 years, with 8 years for exploration and 25 years for extraction[13] - The company plans to start drilling operations in the Bohai Sea 05/31 contract area as soon as possible, following the completion of bidding for initial exploration wells[20] - The company has identified a significant probability of rich oil reserves in the Bohai 05/31 block based on seismic data analysis[29] Risks and Challenges - The company faces risks related to overseas operations, including trade relations and regulatory differences, which could impact overall operations and profitability[9] - There is a significant risk associated with the uncertainty of exploration results, as the estimated oil and gas resources have not been verified by a third party[13] - The company is subject to potential adverse impacts from changes in Mongolian laws and regulations, which could affect its operations[13] Compliance and Governance - The company reported no violations in the management of raised funds during the reporting period, ensuring compliance with regulations[31] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[33] - The company has not declared any cash dividends during the reporting period, indicating a focus on reinvestment[32] Strategic Focus - The company is focusing on strategic transformation by enhancing R&D efforts and expanding into new technical service areas to mitigate risks from fluctuating oil prices[9] - The company is transitioning from a traditional technology service provider to a comprehensive resource company focused on oil and gas resources and advanced exploration technologies[28]

Financial Performance - The company's operating revenue for 2017 was ¥82,108,327.83, representing a 2.14% increase compared to ¥80,388,884.57 in 2016[17] - The net profit attributable to shareholders in 2017 was -¥16,778,804.48, a decrease of 247.66% from ¥11,363,467.88 in 2016[17] - The net cash flow from operating activities improved to ¥66,774,459.08 in 2017, a significant increase of 185.49% compared to -¥78,105,025.61 in 2016[17] - The basic earnings per share for 2017 was -¥0.05, down 225.00% from ¥0.04 in 2016[17] - Total assets at the end of 2017 were ¥1,270,246,150.43, a slight decrease of 0.65% from ¥1,278,544,291.44 at the end of 2016[17] - The net assets attributable to shareholders decreased by 1.96% to ¥1,154,188,572.66 at the end of 2017 from ¥1,177,265,940.16 at the end of 2016[17] - The company reported a weighted average return on equity of -1.44% in 2017, down from 0.97% in 2016[17] - The net profit excluding non-recurring gains and losses was -¥17,184,567.45 in 2017, a decline of 754.11% from ¥2,627,154.95 in 2016[17] - The company achieved a total revenue of ¥82,108,300 in 2017, representing a year-on-year growth of 2.14%[27] - The operating profit for the company was reported at -¥15,400,400, a decrease of 467.52% compared to the previous year[27] - The company reported a total revenue of 610 million yuan for the year, reflecting a year-on-year increase of 15%[110] - The company reported a total of 2,111.39 million yuan in related party transactions during the reporting period[122] Cash Flow and Investments - The net cash flow from operating activities improved to ¥66,774,459.08 in 2017, a 185.49% increase[66] - Investment cash inflow increased by 17.76% to ¥378,950,967.95, while cash outflow decreased by 4.30% to ¥378,292,174.19, leading to a net cash flow from investment activities of ¥658,793.76[66] - Financing cash inflow was recorded at ¥10,020,104.22, with cash outflow increasing by 71.97% to ¥5,502,946.97, resulting in a net cash flow from financing activities of ¥4,517,157.25, a 241.16% increase[66] - The net increase in cash and cash equivalents was ¥66,100,596.86, a significant recovery from a net decrease of ¥146,212,635.96 in the previous year[66] - The company has a total of 121.80 million yuan in cash assets allocated for normal operations in overseas companies, representing 10.22% of the company's net assets[36] - The company has utilized RMB 19.5 million from raised funds and RMB 12 million from self-owned funds for bank financial products, with no overdue amounts reported[138] Project Development and Operations - The company completed 48 ongoing projects during the reporting period, with 45 projects successfully completed[27] - The company expanded its international service market, successfully completing projects in North America, Central Asia, and the Middle East, enhancing service diversity[29] - The company undertook resource evaluation and consulting services for 35 oil and gas projects globally, indicating a broadening of its service offerings[29] - The company is focusing on integrating exploration and development services to enhance its technical service capabilities and resource identification[29] - The company has established a technical engineering service company in Mongolia to prepare for oil exploration activities in the Ergel-12 block, following the receipt of a special exploration license on June 29, 2017[32] - The company has expanded the total area of the Bohai 05/31 contract area from 270.3 square kilometers to 282.2 square kilometers after signing a modification agreement with China National Offshore Oil Corporation on June 14, 2017[30] - The company has developed a comprehensive evaluation model for potential oil and gas investment projects, enhancing its oil service business revenue[30] - The company has shifted its focus in the Western Research Center project to provide integrated geological engineering services for oil exploration and development, enhancing its service capabilities[80] Research and Development - Research and development (R&D) investment reached ¥16,740,785.78, accounting for 20.39% of operating revenue, indicating a focus on technological innovation[63] - The number of R&D personnel increased to 35, representing 54.69% of the workforce, while R&D spending capitalized was 0.00%[64] - The company is increasing its R&D efforts by integrating artificial intelligence into oil and gas exploration, aiming to develop a "robotic oil finding" software that utilizes deep learning and seismic data analysis[93] - The company is focusing on geothermal energy technology development, applying its oil and gas exploration techniques to optimize geothermal well networks and achieve sustainable resource utilization[94] Strategic Initiatives and Market Position - The company plans to enhance cooperation with existing clients while attracting new customers through "low-cost, high-quality" services to promote steady growth in oil service business[91] - The company aims to optimize drilling locations and conduct comprehensive evaluations of potential reserves in the Saihanwuliji block based on 2017 drilling results[91] - The company will focus on detailed geological studies and exploration deployment plans for the CFD1-2 and CFD2-4 structures to assess discovered oil fields' reserves[92] - The company intends to complete the second phase of exploration tasks in the Bohai 05/31 block and prepare for formal drilling operations in the first half of 2018[92] - The company is actively seeking upstream and downstream resource acquisition opportunities to enhance its oil and gas industry chain, with a focus on blocks that have production potential and cash flow[95] - The company is facing risks related to overseas operations, including regulatory changes and currency fluctuations, and is implementing measures to mitigate these risks[96] - The company acknowledges the cyclical nature of the oil industry, with low oil prices impacting traditional service demand, and is adapting its strategy to enhance competitiveness and manage costs[96] - The company is encountering intensified competition from major oil companies and other private exploration firms, prompting a focus on technological innovation and service quality to secure contracts[97] Shareholder and Governance Matters - The company has maintained a consistent cash dividend policy over the past three years, distributing 3.2 million yuan each year[106] - The company's major shareholders have committed to not transferring their shares for a period of 36 months following the company's stock listing[109] - The company’s controlling shareholder, Zhou Jinming, has pledged a total of 11,200,000 shares on May 15, 2017, to China Merchants Securities Co., Ltd.[120] - The company has not implemented any equity incentive plans or employee stock ownership plans during the reporting period[121] - The company has a continuous audit service from Ruihua Certified Public Accountants for 10 years, with an audit fee of 500,000 CNY for the current period[116] - The independent directors provided objective opinions on the company's strategic development and internal controls, ensuring compliance with regulations and enhancing management levels[193] Risk Management - The company faces risks from potential changes in Mongolian laws and regulations that could adversely affect operations[101] - The exploration and extraction phases are subject to long cycles and high investment risks, which could lead to financial losses if oil is not discovered[101] - The company is committed to environmental protection and safety in offshore operations, recognizing the associated risks and responsibilities[99] - The company signed a 30-year production sharing contract with China National Offshore Oil Corporation, which involves significant exploration risks and costs[97] Employee and Management Structure - The total number of employees in the company is 64, with 58 in the parent company and 6 in major subsidiaries[177] - The company has established a training system that includes new employee orientation, management skills training, and professional skills training to enhance employee capabilities[179] - The company has a total remuneration of 345.15 million for its board and senior management personnel during the reporting period[176] - The board consists of 7 members, including 3 independent directors, ensuring compliance with legal and regulatory requirements[182] - The company has implemented a transparent performance evaluation and incentive mechanism for senior management, promoting accountability[184]

Financial Performance - Operating revenue for the reporting period was CNY 24,370,710.27, representing a decrease of 25.20% year-on-year[7] - Net profit attributable to shareholders was a loss of CNY 4,332,565.22, a decline of 203.83% compared to the same period last year[7] - The total operating revenue for the third quarter was CNY 24,370,710.27, an increase from CNY 19,465,520.09 in the previous period[33] - The net profit for the third quarter was CNY -3,999,057.90, compared to a net profit of CNY 4,166,009.65 in the same period last year, indicating a significant decline[34] - The total profit for the third quarter was CNY -3,754,835.44, down from CNY 5,324,014.86 in the same period last year[34] - The total comprehensive income for the third quarter was CNY -4,882,509.09, compared to CNY 4,196,214.65 in the same period last year[35] - The basic and diluted earnings per share for the third quarter were both CNY -0.0135, a decrease from CNY 0.0130 in the previous year[35] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 20,920,002.35, an increase of 145.76% year-on-year[7] - Cash received from sales and services increased by CNY 62,823,150.56, a growth of 475% year-on-year, primarily due to improved collections[16] - The company's cash flow from operating activities generated a net cash inflow of ¥20,920,002.35, a recovery from a net outflow of ¥45,716,405.79 in the same quarter last year[49] - Operating cash flow net amount for the third quarter was CNY 57,399,816.32, an increase from CNY 28,199,290.59 in the same period last year, representing a growth of 103.5%[51] - Total cash inflow from operating activities was CNY 77,411,554.06, compared to CNY 54,513,284.02 in the previous year, indicating a year-over-year increase of 42%[51] - The company reported a net cash decrease of CNY 22,765,093.43 in the third quarter, compared to a decrease of CNY 132,437,047.83 in the previous year[50] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,266,961,770.95, a decrease of 0.91% compared to the end of the previous year[7] - The company's total liabilities decreased by 0.91% compared to the previous year, indicating a stable financial position despite revenue decline[15] - Non-current assets totaled CNY 762,679,722.63, down from CNY 777,735,781.11 at the beginning of the period[30] - Total liabilities were CNY 53,669,328.22, an increase from CNY 42,314,877.15 in the previous period[31] - Total equity amounted to CNY 1,278,067,276.44, slightly up from CNY 1,277,493,179.09 at the beginning of the period[31] - The company reported a decrease in cash and cash equivalents from CNY 742,713,278.60 to CNY 480,900,335.25[25] Operating Costs and Expenses - Operating costs increased by CNY 12,854,582.78, a growth of 41.81% year-on-year, primarily due to higher drilling service costs and the consolidation of Reinecke Partners LLC[16] - Tax and additional charges rose by CNY 1,519,396.94, an increase of 1,085.46% year-on-year, mainly due to the consolidation of Reinecke Partners LLC[16] - Financial expenses increased by CNY 8,700,811.63, a growth of 79.38% year-on-year, attributed to reduced interest income from bank deposits and increased exchange losses[16] - The management expenses for the third quarter were CNY 11,873,902.49, compared to CNY 7,549,183.65 in the same period last year, reflecting a 57.5% increase[34] Investments - Investment income surged by CNY 2,972,116.79, a growth of 365.80% year-on-year, due to increased purchases of financial products[16] - The company's investment income for Q3 2017 was ¥2,159,614.60, compared to a loss of ¥812,502.19 in the same period last year[43] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 21,322, with the top ten shareholders holding significant stakes[11] - The company approved a plan to use up to CNY 350 million of idle funds for purchasing safe and liquid wealth management products[17] Other Comprehensive Income - Other comprehensive income decreased by 67.57% due to significant exchange rate fluctuations during the reporting period[15] - The impact of exchange rate changes on cash and cash equivalents was -CNY 5,447,597.05, compared to a positive impact of CNY 3,028,497.09 in the previous year[50]

Financial Performance - Total operating revenue for the reporting period was ¥24,040,354.06, a decrease of 47.55% compared to ¥45,834,946.44 in the same period last year[20]. - Net profit attributable to shareholders was -¥15,951,070.72, representing a decline of 361.17% from a profit of ¥6,107,562.53 in the previous year[20]. - Net profit attributable to shareholders after deducting non-recurring gains and losses was -¥16,262,472.99, a decrease of 603.44% compared to ¥3,230,266.09 in the same period last year[20]. - Basic earnings per share were -¥0.0498, down 360.73% from ¥0.0191 in the same period last year[20]. - The company reported a significant increase in cash inflow from operating activities, totaling ¥65,439,017.66, compared to ¥29,286,076.26 in the previous period[159]. - The net profit for the same period was CNY -16.68 million, a decline of 373.46% year-on-year[43]. - The operating profit was reported at CNY -16,906,502.97, compared to a profit of CNY 5,578,360.15 in the previous period, indicating a significant decline[149]. - The net profit for the current period is a loss of ¥3,053,028.14, compared to a net profit of ¥17,464,915.64 in the previous period, indicating a significant decline[154]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,280,554,329.48, a slight increase of 0.16% from ¥1,278,544,291.44 at the end of the previous year[20]. - Total liabilities decreased to ¥83,774,228.57 from ¥100,609,061.38, a decline of about 16.7%[141]. - The company's equity attributable to shareholders decreased to ¥1,156,616,766.46 from ¥1,177,265,940.16, representing a decrease of approximately 1.7%[142]. - The total assets amounted to CNY 1,318,619,192.36, slightly down from CNY 1,319,808,056.24 at the beginning of the period[146]. - The total equity decreased to CNY 1,271,240,150.95 from CNY 1,277,493,179.09, a decline of 0.5%[146]. Cash Flow - The net cash flow from operating activities was ¥34,676,665.81, an increase of 284.18% from -¥18,827,989.15 in the previous year[20]. - The company reported a cash outflow of 3,200,000.00 CNY for financing activities, consistent with the previous period[161]. - The total cash and cash equivalents at the end of the period increased to ¥221,986,341.14, compared to ¥220,699,594.33 at the end of the previous period[158]. - The cash flow from operating activities was not detailed, but the overall cash position improved significantly, suggesting operational resilience[161]. Investment and Development - The company has successfully completed the final acceptance of the "Longnü Temple Structure Xujiahe Group 3D Seismic Old Data Processing" project and has made significant progress in the exploration and development of three oil and gas blocks[27]. - The company has signed a modification agreement for the Bohai 05/31 contract area, increasing the total area from 270.3 square kilometers to 282.2 square kilometers, enhancing exploration potential[28]. - The total amount of committed investment for the oil exploration seismic data processing center project is CNY 197.43 million, with a cumulative investment of CNY 152.85 million, achieving 100% of the planned investment progress[55]. - The company plans to redirect unused raised funds to the Bohai 05/31 exploration and development project, indicating a strategic shift in investment focus[56]. - The company has established a professional team for oil and gas exploration and development, enhancing its talent pool to support rapid growth and service provision[36]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The company is facing risks due to customer concentration, primarily relying on major clients such as China National Petroleum Corporation, China Petroleum & Chemical Corporation, and China National Offshore Oil Corporation[75]. - The company acknowledges potential risks from political, economic, and natural disasters that could negatively impact operations[81]. - The company has faced a significant reduction in demand for traditional services due to a sharp decline in international oil prices, impacting overall business performance[56]. Corporate Governance - The company has made commitments to avoid any related party transactions that could significantly impact its financial status[87]. - The controlling shareholder, Zhou Jinming, committed to pay a total of 61 million yuan in outstanding payables related to Weiguang Technology by December 31, 2014[88]. - The company has not engaged in any related party transactions during the reporting period[96]. - The company has not reported any major penalties or rectification situations during the reporting period[94]. Technological Advancements - The company has developed a downhole fiber optic sensor technology project in collaboration with the Chinese Academy of Sciences, with ongoing improvements based on field test results[28]. - The company has received a patent for a new seismic imaging method, enhancing its technological capabilities[117]. - The company has filed multiple patents, including a 3D seismic imaging method and a WEFOX-based imaging method, with a patent duration of 20 years[38]. Shareholder Information - The total number of shareholders at the end of the reporting period was 25,212[124]. - Major shareholder Zhou Jinming holds 47.08% of the shares, with a pledge on 45.7 million shares[124]. - The total number of shares outstanding is 320 million, with 35.31% being restricted shares[122].

Financial Performance - Total revenue for Q1 2017 was ¥4,538,867.89, a decrease of 86.95% compared to ¥34,787,549.07 in the same period last year[7] - Net profit attributable to shareholders was -¥9,226,848.22, representing a decline of 290.43% from ¥4,845,155.21 in the previous year[7] - The company's operating revenue for Q1 2017 was 453.89 million RMB, a decrease of 86.95% compared to the same period last year[24] - Operating profit for the current period is -9,379,915.97, compared to a profit of 5,921,216.62 in the previous period, marking a shift to a loss[53] - Net profit for the current period is -9,282,291.89, a stark contrast to the net profit of 4,842,235.01 in the previous period, reflecting a significant downturn[53] - Basic earnings per share for the current period is -0.0288, compared to 0.0151 in the previous period, indicating a negative shift in profitability[54] - The company reported a total comprehensive income of -9,568,936.97 for the current period, contrasting with 4,734,873.02 in the previous period, highlighting overall financial challenges[54] Cash Flow - The net cash flow from operating activities was ¥9,017,101.35, a significant improvement from -¥22,861,404.42 in the same period last year[7] - Cash flow from operating activities for the current period is 25,340,154.17, an increase from 13,448,563.55 in the previous period, showing improved cash generation[59] - Total cash inflow from investment activities was ¥44,523,933.53, while cash outflow was ¥53,611,684.41, resulting in a net cash flow of -¥9,087,750.88[61] - The company reported a net increase in cash and cash equivalents of -¥788,995.12, compared to a much larger decrease of -¥90,792,523.85 in the previous year[61] - The cash inflow from operating activities totaled ¥29,347,879.58, while cash outflow was ¥7,750,444.93, leading to a net cash flow of ¥21,597,434.65[63] - The company recorded cash inflow from investment activities of ¥340,333.33, with cash outflow amounting to ¥35,006,037.91, resulting in a net cash flow of -¥34,665,704.58[64] - The total cash flow from financing activities was net zero, indicating no new borrowings or equity raised during the period[64] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,247,561,413.15, down 2.42% from ¥1,278,544,291.44 at the end of the previous year[7] - Total current assets decreased from ¥855,049,258.82 to ¥826,810,372.75, a decline of approximately 3.5%[44] - Total non-current assets decreased from ¥423,495,032.62 to ¥420,751,040.40, a decline of about 0.6%[45] - Total liabilities decreased from ¥100,609,061.38 to ¥79,200,462.41, a reduction of approximately 21.3%[46] - Total equity attributable to shareholders decreased from ¥1,177,265,940.16 to ¥1,167,747,104.51, a decline of about 0.4%[47] - Accounts payable decreased from ¥92,642,585.07 to ¥74,569,034.47, a reduction of about 19.5%[45] Strategic Initiatives - The company has established a strategic transformation goal to expand market reach and reduce operational costs while maintaining steady growth in traditional business[10] - The company plans to enhance its research and development efforts to improve service levels and gain customer recognition[11] - The company is actively exploring overseas markets to mitigate risks associated with customer concentration in the domestic oil industry[10] - The company aims to achieve significant breakthroughs in oil and gas exploration in the Bohai Bay area to enter commercial production stages[12] - The company plans to prioritize technical services and engineering contracting for exploration and development projects, ensuring fair market pricing[33] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 18,856, with the top 10 shareholders holding a combined 47.08% of shares[20] - The largest shareholder, Zhou Jinming, holds 47.08% of shares, amounting to 150,640,000 shares, with 112,980,000 shares pledged[20] - The controlling shareholder and actual controller, Zhou Jinming, along with shareholders Zhang Haitao and Zheng Qifen, committed not to transfer or entrust the management of their shares for 36 months from the date of the company's stock listing[30] - The foreign shareholder, Baokewood, pledged not to transfer or entrust the management of its shares for one year from the date of the company's stock listing[30] Risks and Challenges - The company is facing risks due to a significant drop in oil prices, which has led to decreased demand for technical services[10] - The company faces operational risks due to differences in legal and business environments in overseas markets, which could adversely affect overall operations and profitability[15][18] - The exploration results for the contract area are uncertain and depend on actual drilling and production outcomes, which may affect investment recovery and profitability[17] - The proprietary technology project for oil and gas accumulation simulation has been affected by the continuous decline in international oil prices, leading to reduced investment in exploration and development[36] Investment and Fundraising - Total fundraising amount reached ¥77,712.13 million, with ¥21,889.54 million invested in the current quarter[35] - Cumulative investment from fundraising totaled ¥56,880.26 million, with 15.75% of funds reallocated[35] - The company has committed to investing in three key projects, including a seismic data processing center with a total investment of ¥19,742.52 million[35] - The oil exploration technology research center project has a total investment of ¥4,872.56 million, achieving 100% of the planned investment[35] - The company plans to increase investment in the Bohai 05/31 block exploration project due to favorable conditions in the current oil price environment[37]

Financial Performance - The company achieved operating revenue of CNY 80,388,884.57 in 2016, representing a year-on-year increase of 79.31%[17]. - Net profit attributable to shareholders was CNY 11,363,467.88, a significant increase of 123.82% compared to the previous year[17]. - The company reported a total revenue of approximately $552.1 million, with a net loss of $7.44 million for the year[92]. - The company reported a total revenue of 610 million RMB for the year, reflecting a year-on-year increase of 15%[114]. - The company’s net profit attributable to shareholders for 2016 was 11,363,467.88 RMB, with a distributable profit of 335,187,029.40 RMB at year-end[110]. - The company’s cash dividend payout ratio for 2016 was 23.74% of the net profit attributable to shareholders[113]. - The company reported a significant increase in operating costs, with costs rising by 69.41% year-on-year[58]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.10 RMB per 10 shares to all shareholders, based on a total of 320,000,000.00 RMB[4]. - The cash dividend for 2016 is consistent with the previous two years, maintaining a dividend of 0.10 RMB per 10 shares[111]. - The company has a profit distribution policy that aligns with its articles of association and dividend management practices[110]. - The company’s total share capital as of December 31, 2016, was 32,000,000 shares[110]. - The company’s retained earnings at the end of 2016 were 322,094,786.83 RMB after accounting for the previous year's dividend distribution[110]. Governance and Management - The company emphasizes the importance of accurate financial reporting and has declared that the financial report is true, accurate, and complete[3]. - The company has a strong governance structure, with a board of directors and supervisory board ensuring accountability and oversight[4]. - The company has maintained a focus on ensuring the interests of minority shareholders amid ongoing strategic decisions[114]. - The company has a comprehensive governance structure, ensuring compliance with laws and regulations during shareholder meetings and board operations[194]. - The company has established a fair and transparent performance evaluation and incentive mechanism for senior management[197]. Operational Strategy and Development - The company is focused on developing advanced seismic imaging technology, specifically the WEFOX bidirectional focusing 3D pre-stack imaging technology, which is a leading innovation in the industry[10]. - The company has outlined its future development plans and risk management strategies in the management discussion and analysis section of the report[4]. - The company is actively involved in oil and gas exploration, utilizing various geophysical techniques to assess underground structures and resources[9]. - The company is focusing on promoting its integrated collection and processing technology overseas, which has become a key growth opportunity amid a sluggish domestic market[29]. - The company aims to leverage the "Belt and Road" initiative to expand its oil and gas resources in East Asia, focusing on low-cost acquisitions during the industry downturn[34]. Research and Development - Research and development investment amounted to 10,527,049.11 yuan, which is 13.10% of total revenue[66]. - The company has enhanced its core competitiveness through technological innovation and resource advantages, transitioning from a service-oriented company to a comprehensive oil service provider[39]. - The company has filed for several patents, including a method for three-dimensional seismic imaging, indicating ongoing innovation efforts[45]. - The company plans to continue increasing its R&D investment to enhance technological innovation capabilities[66]. Project Management and Exploration - The company successfully completed 10 out of 14 ongoing projects during the reporting period, contributing to its revenue growth[27]. - The company successfully completed drilling and testing of two exploratory wells, CFD2-4-1 and CFD1-2-2D, achieving a 100% drilling success rate in 2016[32]. - The company has shifted its focus from traditional technical services to integrated oil and gas resource services, aiming to enhance operational efficiency and reduce costs[82]. - The company is focusing on the Bohai 05/31 block exploration, planning to drill one exploratory well in 2017[97]. Financial Management and Investments - The company has committed to avoiding competition and ensuring proper management of related party transactions[113]. - The company has adjusted its investment strategy to better align with market conditions, particularly in response to the significant decline in global oil prices[82]. - The company has reported a significant reduction in project costs due to effective management and procurement strategies, resulting in surplus funds of RMB 53.57 million and interest of RMB 38.75 million[84]. - The company has not encountered any violations in the management of raised funds, ensuring timely and accurate disclosures related to fundraising activities[84]. Market and Client Relations - The company faces risks from a significant reliance on major clients, particularly China National Petroleum Corporation, China Petroleum & Chemical Corporation, and China National Offshore Oil Corporation[99]. - The company has signed a 30-year product sharing contract with China National Offshore Oil Corporation, with a 49% stake in any commercial oil and gas discoveries[101]. - The company aims to enhance its overseas service market expansion, targeting regions such as East Asia, the Americas, and Africa[96]. Social Responsibility and Employee Development - The company actively fulfills its social responsibilities while creating value for shareholders[148]. - The company emphasizes employee development and safety, maintaining a comprehensive performance evaluation system[148]. - The company has implemented a training program that includes new employee orientation, management skills training, and professional skills training to enhance employee capabilities[191].

Financial Performance - Total operating revenue for the reporting period was CNY 19,465,520.09, an increase of 1,863.32% year-on-year, and CNY 65,300,466.53 for the year-to-date, up 146.58%[7] - Net profit attributable to shareholders for the reporting period was CNY 4,172,944.30, a 135.00% increase year-on-year, and CNY 10,280,506.83 year-to-date, up 159.23%[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 4,073,011.93, a 133.99% increase year-on-year, and CNY 7,303,228.01 year-to-date, up 141.68%[7] - Basic earnings per share for the reporting period were CNY 0.0130, an increase of 132.50% year-on-year, and CNY 0.0321 year-to-date, up 164.20%[7] - The company reported a comprehensive income total of ¥4,196,214.65, recovering from a comprehensive loss of ¥11,750,617.24 in the previous period[57] - The total operating revenue for the current period reached ¥65,300,466.53, a significant increase from ¥26,482,677.70 in the previous period, representing a growth of approximately 146.5%[63] - The operating profit for the current period was ¥10,784,807.51, compared to a loss of ¥17,969,698.88 in the previous period, indicating a turnaround in profitability[64] - The net profit for the current period was ¥10,263,998.20, contrasting with a net loss of ¥17,739,558.51 in the previous period, marking a substantial improvement[64] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,240,861,248.30, a decrease of 1.41% compared to the end of the previous year[7] - The total assets of the company amounted to ¥1.24 billion, slightly down from ¥1.26 billion, reflecting a decrease of about 1.5%[50] - The company’s total liabilities decreased to ¥66.57 million from ¥91.69 million, a reduction of approximately 27.4%[49] - The company’s equity attributable to shareholders increased to ¥1.17 billion from ¥1.17 billion, showing a marginal increase of about 0.4%[50] - The company’s non-current assets totaled approximately ¥372.94 million, up from ¥303.68 million, indicating an increase of about 22.8%[48] Cash Flow - The company reported a net cash flow from operating activities of -CNY 45,716,405.79, a decrease of 123.46% year-to-date[7] - The net cash flow from operating activities was -45,716,405.79, compared to -20,458,379.05 in the previous period, indicating a decline of approximately 124%[71] - Total cash inflow from operating activities was 17,571,580.58, down from 19,628,833.93, a decrease of about 10.8%[71] - Cash outflow from operating activities totaled 63,287,986.37, an increase of 57.7% from 40,087,212.98 in the previous period[71] - The net cash flow from investing activities was -86,549,139.13, worsening from -45,910,941.26, reflecting a decline of approximately 88%[72] - The ending cash and cash equivalents balance was 190,187,027.28, compared to 117,850,893.94 in the previous period, an increase of approximately 61.2%[72] Investments and Projects - The company plans to reduce exploration and development costs in the Bohai 05/31 block while actively seeking acquisition opportunities to enhance oil and gas resources[10] - The company plans to invest $36 million in its subsidiary, Wisdom Oil, to establish operations in Mongolia for the Ergel-12 exploration project, pending regulatory approvals[14] - The company has signed a 30-year product-sharing contract with China National Offshore Oil Corporation, which involves high exploration costs and risks[11] - The company has signed a product sharing contract with the Mongolian government, granting 100% exploration rights in the Ergel-12 block for an 8-year exploration period[40] - The company has committed to prioritize technical services and engineering contracting projects to its subsidiaries[32] - The company plans to increase investment in the Bohai 05/31 block due to favorable geological conditions and low exploration costs in the current oil price environment[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,416, with the top 10 shareholders holding a combined 47.08% of shares[18] - The largest shareholder, Zhou Jinming, holds 112,980,000 shares, representing 47.08% of the total shares, with 150,640,000 shares pledged[19] - The company has not conducted any repurchase transactions among the top 10 ordinary shareholders during the reporting period[19] - The company has committed to not transferring or entrusting the management of its shares for 36 months post-IPO, ensuring stability for shareholders[29] Risks and Challenges - The company faces risks related to approval processes, exploration uncertainties, and changes in Mongolian laws and regulations that could impact operations[15][16] - The exploration results are uncertain, and if oil reserves do not meet expectations, it could adversely affect the investment recovery period and returns[15] - Due to the significant decline in international oil prices, the exploration and development investments by major domestic and international oil and gas companies have decreased markedly, leading to reduced demand for the company's traditional services[34] - The company has not reported any violations regarding external guarantees or non-operating fund occupation by major shareholders during the reporting period[43]

Financial Performance - Total operating revenue for the first half of 2016 was CNY 45,834,946.44, representing a 79.81% increase compared to CNY 25,491,215.96 in the same period last year[17]. - Net profit attributable to ordinary shareholders of the listed company reached CNY 6,107,562.53, a significant turnaround from a loss of CNY 5,433,797.07, marking a 212.40% increase[17]. - The net profit after deducting non-recurring gains and losses was CNY 3,230,266.09, compared to a loss of CNY 5,371,331.11, reflecting a 160.14% improvement[17]. - Basic earnings per share increased to CNY 0.0191 from a loss of CNY 0.0168, representing a 213.69% increase[17]. - The company reported a net profit for the same period was CNY 6.10 million, representing a year-on-year increase of 206.42%[31]. - The company reported a comprehensive income total of CNY 6,438,511.47, compared to a comprehensive loss of CNY 5,731,119.27 in the previous year[133]. - The operating profit for the first half of 2016 was CNY 5,578,360.15, compared to an operating loss of CNY 4,630,290.41 in the previous year[132]. - The total profit for the first half of 2016 was CNY 8,963,450.08, compared to a total loss of CNY 4,703,779.77 in the previous year[132]. Cash Flow and Investments - The net cash flow from operating activities was CNY -18,827,989.15, an improvement of 16.93% from CNY -22,665,516.85 in the previous year[17]. - The company reported a cash flow from operating activities of CNY -18.83 million, an improvement of 16.93% compared to the previous year[37]. - The total cash outflow from investment activities was 87,240,441.06 CNY, up from 68,547,344.73 CNY, representing a 27.2% increase[140]. - The net cash flow from investment activities was -81,967,806.39 CNY, worsening from -62,183,804.86 CNY, reflecting a decline of 31.9%[140]. - The cash inflow from investment activities was 282,183,793.96 CNY, a substantial increase from 5,746,995.42 CNY, marking a growth of over 4,800%[143]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,227,564,388.67, a decrease of 2.46% from CNY 1,258,551,036.91 at the end of the previous year[17]. - Total liabilities decreased from CNY 91,689,550.85 to CNY 57,464,391.14, a decrease of about 37.3%[124]. - The total equity attributable to the parent company at the end of the period was 1,170,099.997 million RMB, compared to 1,216,904.451 million RMB at the end of the previous period, reflecting a decrease of approximately 3.83%[149]. - The company reported a total liability of 61 million yuan related to accounts payable from its subsidiary, which is expected to be settled by December 31, 2014[95]. Strategic Initiatives - The company has established a strategic transformation goal to enhance market expansion and reduce operational costs in response to declining oil prices, which have negatively impacted traditional technical service demand[23]. - The company is focusing on diversifying its client base to mitigate risks associated with customer concentration, primarily relying on major oil companies like PetroChina, Sinopec, and CNOOC[23]. - The company plans to enhance its overseas management and talent acquisition to mitigate risks associated with international operations and comply with local regulations[24]. - The company aims to increase its research and development efforts to improve technical service levels and secure contracts amid intensifying competition in the oil exploration sector[24]. Research and Development - The company has developed the WEFOX bidirectional focusing three-dimensional pre-stack imaging technology, which is a leading technology in the industry[9]. - The company’s research and development expenses decreased by 28.23% to CNY 4.93 million, due to the completion of 2015 projects and the initiation of new projects in the second quarter of 2016[37]. - The company is collaborating with the Chinese Academy of Sciences to develop a 16-level downhole fiber optic sensor technology project[35]. - The company has invested 4.93 million yuan in key R&D projects during the reporting period, with a focus on advanced oil exploration technologies[45]. Market Conditions and Risks - The company reported a significant decrease in traditional business demand due to a sharp decline in international oil prices, impacting exploration and development investments[53]. - The company has identified risks related to customer concentration, technological innovation, and market competition, and has outlined measures to mitigate these risks[48]. - The company is focused on improving production capacity based on oil price fluctuations to achieve profitability[72]. Shareholder Information - Major shareholders include Zhou Jinming with a 47.08% stake, holding 150,640,000 shares[112]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period[114]. - The total number of shareholders at the end of the reporting period is 20,204[112]. - The company has proposed a cash dividend of 0.1 RMB per share, based on a total share capital of 32,000 million shares, approved by the shareholders' meeting[66]. Compliance and Governance - The company has confirmed that all disclosures related to the management of raised funds were timely, truthful, accurate, and complete, with no violations reported[56]. - The company has not reported any discrepancies between net profit and net assets under international and Chinese accounting standards during the reporting period[21]. - The company has not engaged in any major non-fundraising investment projects during the reporting period[60]. - The company has not held any financial enterprise shares during the reporting period[61].