Financial Performance - The company's operating revenue for Q3 2022 reached ¥134,266,345.61, representing a 29.64% increase year-over-year[5] - Net profit attributable to shareholders for Q3 2022 was ¥16,083,404.51, a 49.42% increase compared to the same period last year[5] - The basic earnings per share for Q3 2022 was ¥0.0518, reflecting a 54.17% increase year-over-year[5] - The company reported a year-to-date operating revenue of ¥364,942,135.00, which is a 20.63% increase compared to the same period in 2021[14] - The company's net profit attributable to shareholders for the first nine months of 2022 was ¥42,596,718.84, a significant increase of 65.31% year-over-year[14] - The company reported a significant increase in cash received from operating activities, totaling ¥41,029,258.53 for the first nine months of 2022, compared to ¥4,088,491.48 in the same period of 2021, representing a growth of 903.53%[16] - The total comprehensive income for the third quarter was CNY 45,235,620.58, compared to CNY 25,654,678.43 in the same period last year, representing an increase of approximately 76.5%[29] - Basic and diluted earnings per share increased to CNY 0.1300 from CNY 0.0805, reflecting a growth of 61.7% year-over-year[29] Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥1,792,469,178.10, marking a 12.09% increase from the end of the previous year[5] - The company's total assets increased to CNY 1,792,469,178.10, compared to CNY 1,599,152,863.17 at the end of the previous year[25] - Current liabilities totaled CNY 240,305,035.81, a slight increase from CNY 228,459,921.99 in the previous period[25] - Non-current liabilities rose to CNY 283,295,516.32, compared to CNY 138,050,998.46 in the same period last year[25] - The company's equity attributable to shareholders reached CNY 1,267,388,710.32, up from CNY 1,230,006,782.77 year-on-year[25] Cash Flow and Financing - The company’s cash flow from operating activities for the year-to-date period was ¥111,628,026.81, reflecting a 29.21% increase[5] - Cash flow from operating activities generated a net cash inflow of CNY 111,628,026.81, up from CNY 86,393,681.39, marking a rise of 29.2%[31] - Cash received from the sale of goods and services was CNY 361,930,520.78, compared to CNY 338,203,992.53 in the previous year, indicating an increase of 7.0%[30] - The net cash outflow from investing activities was CNY -201,485,993.40, a decrease from CNY 90,159,570.53 in the prior year, showing a significant decline in investment cash flow[31] - Cash flow from financing activities resulted in a net inflow of CNY 109,882,694.59, compared to a net outflow of CNY -54,694,048.72 in the same period last year[31] - The total cash inflow from financing activities was CNY 197,680,394.43, up from CNY 110,000,000.00, reflecting an increase of 79.6%[31] Expenses and Taxation - The financial expenses for the first nine months of 2022 showed a decrease of 374.86%, primarily due to increased foreign exchange gains[14] - The tax and additional charges increased by 133.74% year-over-year, attributed to rising oil prices and increased oil and gas extraction revenues[14] - Tax payments increased by 108.34%, amounting to ¥71,934,672.45 in 2022 compared to ¥34,527,279.85 in 2021, primarily due to higher special oil income tax, VAT, and resource tax[16] - The company reported a significant increase in tax expenses, totaling CNY 72,897,361.38, compared to CNY 31,187,863.93 in the previous year[28] Shareholder Information - The total number of common shareholders reached 19,688, with the top shareholder, Zhou Jinming, holding 41.64% of the shares[18] Other Notable Events - The company initiated a seismic data collection project in Mongolia, expected to save approximately $3 million through optimized project design and execution[21] - The company secured new bank loans totaling ¥197,680,394.43, a 79.71% increase from ¥110,000,000.00 in the previous year, to support production operations[16] - The company has applied for a comprehensive credit facility of up to ¥350 million, including a ¥50 million application to Citic Bank, to support its operational needs[21] - The company reported an increase in other cash received related to operating activities, amounting to CNY 41,029,258.53, compared to CNY 4,088,491.48 in the previous year, a growth of 906.5%[30] - The company experienced a foreign exchange gain of ¥8,321,465.33, a significant improvement from a loss of ¥1,104,501.75 in the previous year, reflecting an 853.41% change[16] - The company did not undergo an audit for the third quarter report[32]

Financial Performance - The company's operating revenue for the first half of 2022 was ¥230,675,789.39, representing a 15.94% increase compared to ¥198,966,644.51 in the same period last year[20]. - The net profit attributable to shareholders increased by 76.72% to ¥26,513,314.33 from ¥15,003,416.98 year-on-year[20]. - The net cash flow from operating activities surged by 3,133.07% to ¥117,373,146.15, compared to a negative cash flow of ¥3,869,774.46 in the previous year[20]. - Basic earnings per share rose by 70.58% to ¥0.08 from ¥0.0469 in the same period last year[20]. - Total assets at the end of the reporting period reached ¥1,731,666,135.84, an increase of 8.29% from ¥1,599,152,863.17 at the end of the previous year[20]. - The net assets attributable to shareholders increased by 1.66% to ¥1,250,465,404.00 from ¥1,230,006,782.77 at the end of the previous year[20]. - The weighted average return on net assets improved to 2.14% from 1.24% year-on-year[20]. - The net profit after deducting non-recurring gains and losses was ¥25,168,247.04, a 69.76% increase from ¥14,825,577.32 in the same period last year[20]. - The company reported a net cash flow from financing activities of ¥53,720,587.82, a 591.42% increase from a negative cash flow of ¥10,931,625.00 in the previous year, attributed to increased bank loans for production operations[51]. - The company's revenue from oil and gas extraction reached ¥224,202,573.42, representing a year-on-year increase of 26.92%[53]. - The gross profit margin for oil and gas extraction improved to 51.97%, an increase of 11.44% compared to the previous year[53]. Exploration and Development Activities - The company completed drilling and testing work for the CFD1-2-4 well, discovering multiple oil and gas layers[28]. - The QK18-3-1 well in the Bohai 09/17 contract area confirmed multiple oil-bearing intervals, supporting further exploration[29]. - The company is preparing for its first offshore drilling operation in the South China Sea, with the WZ5-3-1 well ready for drilling[30]. - The company plans to complete 560 kilometers of 2D seismic data acquisition in the Ergel-12 block in Mongolia this year[32]. - The company is focused on enhancing production efficiency and reducing costs in the Jiu 1-9 5 block, aiming to exceed annual crude oil production targets[33]. - The company has initiated comprehensive evaluations of discovered oil traps to assess their commercial value and development potential[28]. - The company has developed a proprietary high-success-rate oil exploration technology, transitioning from a service-oriented model to a comprehensive international energy company, with significant advancements in oil and gas exploration and development[34]. - The company has successfully discovered geological reserves of 4.5094 million tons of crude oil and 582 million cubic meters of dissolved gas in the CFD1-2 structure, with plans for further exploration and production upgrades in 2022[37]. - The company has signed a 30-year production sharing contract for the Nansha 22/05 block, estimating total oil and gas resources of 1.25 billion cubic meters, with geological reserves expected to be between 34.1-56.8 million cubic meters[40]. - The company aims to achieve an annual production capacity of 500,000 cubic meters (400,000 tons) in the Weizhou 10-3 West oil field, with a cumulative production target of approximately 3.6 million cubic meters (3 million tons)[40]. Technological Development - The company has developed over 50 core software systems, including WEFOX and SinoGeoStar, and possesses advanced computing clusters to support complex geological data processing[44]. - The company is leveraging artificial intelligence to create a high-precision 3D spatial big data software platform, enhancing exploration efficiency and reducing costs[34]. - The company has established an integrated service model for exploration and development, ensuring high-quality technical services and project management[43]. - The company is focusing on research and development of new products to drive future growth[186]. Financial Management and Investments - Research and development expenses decreased by 33.48% to ¥5,158,417.46, as the company focused on offshore exploration and onshore drilling operations, resulting in reduced R&D workload[51]. - The company reported a significant increase in accounts payable, which rose to ¥143,075,037.32, a 2.72% increase in proportion[58]. - Long-term borrowings increased to ¥80,233,544.43, reflecting a new 2-year bank loan for operational purposes[58]. - The company has allocated $79,674,578.21 for the exploration and mining project in the Bohai 09/17 block, which includes a principal of ¥40,001,600 and interest of ¥39,658,600[68]. - The company has utilized approximately $15 million in additional fundraising for the Ergel-12 exploration project[68]. - The company has adjusted its investment strategy for the Bohai 05/31 block based on the exploration progress and actual funding needs, focusing on drilling costs[68]. - The company has not encountered any violations in the management of raised funds during the reporting period, ensuring timely and accurate disclosures[69]. Market and Operational Risks - The company faces risks related to international operations, including legal risks, exchange rate fluctuations, and local policy changes, which could adversely affect overall operations and profitability[81]. - The exploration period for the China Bohai 05/31 contract is 30 years, with the company bearing 100% of exploration costs, which poses significant financial risk if no commercial oil or gas is discovered[83]. - The company acknowledges the uncertainty of exploration results, as resource estimates are based on internal assessments without third-party evaluations, which could lead to financial losses if exploration is unsuccessful[85]. - The company faces risks related to the legal and operational environment in Mongolia, which could adversely affect overall operations[86]. - The company must submit environmental impact reports and development plans to the Chinese government for approval before proceeding with development in the Weizhou 10-3 West Oilfield[87]. Shareholder and Corporate Governance - The company has implemented a reasonable profit distribution plan to reward shareholders based on its development and relevant laws and regulations[106]. - There were no overdue commitments from actual controllers, shareholders, related parties, or acquirers during the reporting period[109]. - The company maintained a good integrity status, with no unfulfilled court judgments or significant overdue debts[115]. - The company has not engaged in any significant related party transactions during the reporting period[116]. - The company has not reported any changes in the holdings of directors, supervisors, and senior management during the reporting period[149].

Financial Performance - The company's revenue for Q1 2022 was CNY 106,307,388.12, representing an increase of 8.48% compared to CNY 97,998,056.18 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2022 was CNY 10,057,303.43, a significant increase of 52.19% from CNY 6,608,471.74 year-on-year[3]. - Operating profit for the same period was 13.79 million RMB, up 46.19% year-on-year[15]. - Net profit for Q1 2022 reached CNY 10,134,567.37, representing a 50.5% increase from CNY 6,722,401.07 in Q1 2021[25]. - Basic earnings per share for Q1 2022 were CNY 0.03, compared to CNY 0.02 in Q1 2021, reflecting a 50% increase[25]. Cash Flow - The net cash flow from operating activities surged by 388.57% to CNY 68,745,586.67, compared to CNY 14,070,723.32 in the previous year[3]. - Operating cash inflow for the current period was $137,530,401.23, an increase of 8.9% from $126,406,613.61 in the previous period[28]. - Cash inflow from financing activities was $90,000,000.00, with net cash flow from financing activities at $53,896,669.29, recovering from a negative $4,531,625.00 in the prior period[29]. - The net increase in cash and cash equivalents for the current period was $38,753,076.02, contrasting with a decrease of $27,100,480.61 in the previous period[29]. - Total cash outflow from operating activities decreased to $68,784,814.56 from $112,335,890.29, a reduction of 38.8%[28]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 1,672,640,989.75, reflecting a 4.60% increase from CNY 1,599,152,863.17 at the end of the previous year[3]. - Total liabilities increased to CNY 430,572,859.24 in Q1 2022 from CNY 366,510,920.45 in Q1 2021, marking a rise of 17.5%[21]. - Long-term investments stood at CNY 150,242,841.84 in Q1 2022, slightly down from CNY 150,693,828.78 in Q1 2021[20]. Shareholder Information - The company has a total of 18,228 common shareholders as of the reporting period[10]. - The largest shareholder, Zhou Jinming, holds 41.64% of the shares, with 99.93 million shares pledged[10]. Government and Financial Support - The company received government subsidies amounting to CNY 1,550,000.00 during the reporting period[5]. - Financial expenses increased by 185.55% to CNY 700,736.56, attributed to higher loan amounts and interest expenses[7]. Investments and Operations - The company plans to invest 18 million USD in its wholly-owned subsidiary, Wisdom Oil, for oil exploration and development in the South China Sea[16]. - Wisdom Oil will hold 100% exploration rights in the designated area for six years, with a 49% share in any commercial oil and gas discoveries[16]. - The company successfully completed drilling and testing of the CFD1-2-4 well, achieving daily oil production of 30.48 cubic meters and 31.65 cubic meters from two separate layers[17]. Other Financial Metrics - The weighted average return on equity improved to 0.81%, up from 0.55% in the previous year[3]. - Cash and cash equivalents increased to approximately 494.62 million RMB from 457.94 million RMB at the beginning of the year[19]. - Accounts receivable rose to 49.57 million RMB, compared to 45.99 million RMB at the start of the year[19]. - The company reported a decrease in other comprehensive income, with a net amount of CNY -708,379.58 in Q1 2022 compared to CNY 471,198.38 in Q1 2021[25].

Financial Performance - The company's operating revenue for 2021 was ¥406,385,437.73, a decrease of 4.42% compared to ¥425,171,413.96 in 2020[15]. - Net profit attributable to shareholders was ¥34,283,609.81, representing a significant increase of 227.02% from ¥10,483,698.84 in 2020[15]. - The net profit after deducting non-recurring gains and losses was ¥34,034,200.64, up 477.73% from ¥5,890,971.15 in 2020[15]. - The company's cash flow from operating activities was ¥95,987,924.98, a decline of 54.33% compared to ¥210,166,615.11 in 2020[15]. - Basic earnings per share increased to ¥0.11, a rise of 266.67% from ¥0.03 in 2020[15]. - The total assets at the end of 2021 were ¥1,599,152,863.17, an increase of 3.52% from ¥1,544,808,293.86 at the end of 2020[15]. - The net assets attributable to shareholders were ¥1,230,006,782.77, reflecting a growth of 2.23% from ¥1,203,218,732.95 at the end of 2020[15]. - The company achieved operating revenue of 406.39 million yuan, a year-on-year decrease of 4.42%[29]. - Operating profit reached 45.87 million yuan, a year-on-year increase of 143.01%[29]. - Oil and gas extraction revenue was CNY 372.37 million, accounting for 91.63% of total revenue, with a year-on-year increase of 3.33%[59]. Dividend and Shareholder Information - The company plans to distribute a cash dividend of 0.20 RMB per 10 shares to all shareholders, based on a total of 320,000,000 shares[4]. - The company reported a total distributable profit of 421,099,199.55 CNY for the reporting period[163]. - The company did not distribute any bonus shares or increase share capital through capital reserves during the reporting period[163]. - The company has a cash dividend amount of 6,400,000.00 CNY, with a distribution plan based on a total share capital of 320,000,000 shares[163]. Risk Management and Compliance - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors, highlighting potential risks and countermeasures in its operations[4]. - The company has established a comprehensive risk management framework to address potential operational risks[4]. - The company has not encountered any significant changes in the feasibility of its revised projects[97]. - The company has not reported any risks identified by the supervisory board during the reporting period[158]. - The company has committed to ensuring all shareholders have equal rights and access to information, enhancing transparency and communication with investors[132]. - The company has established a funding strategy through self-funding, bank loans, and shareholder financing to avoid potential withdrawal from contracts due to funding issues[120]. Exploration and Development Activities - The company successfully drilled 1 exploratory well offshore and 105 production wells onshore during the reporting period[28]. - The company achieved a crude oil production of 542,000 tons in the Jiuyi-1 to Jiuyi-5 block during the year[28]. - The company plans to increase investment in oil and gas exploration and development to address the imbalance in oil and gas supply and demand[26]. - The company focused on enhancing internal project geophysical exploration and reservoir research, while external service and leasing revenue decreased[29]. - The company discovered new oil reserves in the Bohai 05/31 contract area, with an additional 16.04 million tons of 2P oil geological reserves and 2.154 billion cubic meters of dissolved gas reserves[37]. - The company is advancing its exploration efforts in the South China Sea Weizhou 22/04 contract area, utilizing advanced technologies to enhance geological understanding and optimize drilling plans[39]. Technological Innovation - The company is focusing on technological innovation, particularly in artificial intelligence for oil and gas exploration, to enhance efficiency and reduce costs[40]. - The company has developed a comprehensive oil and gas exploration and development service capability, integrating advanced seismic and geological technologies[42]. - The company has developed a modern wireless holographic seismic data acquisition team equipped with over 60,000 data acquisition devices, enabling it to undertake complex geological seismic acquisition tasks[52]. - The company is developing a modern oil exploration system based on big data and artificial intelligence, which will guide efficient exploration and development of special oil and gas reservoirs[103]. Corporate Governance - The company has established a comprehensive performance evaluation system and compensation mechanism for senior management, linking their performance directly to their income[133]. - The board of directors consists of 7 members, including 3 independent directors, complying with legal and regulatory requirements[132]. - The company maintains independence from its controlling shareholder in terms of business, personnel, assets, and finance, ensuring independent market operations[134]. - The company has a strong management team, including Zhou Jinming as General Manager, who has extensive experience in the oil and gas sector[145]. - The company has established a training system that includes new employee orientation, management skills training, and professional skills training to enhance employee capabilities[162]. Financial Management - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 558.61 million CNY[150]. - The company has established a performance evaluation system and remuneration policy for senior management based on operational performance and assessment indicators[148]. - The company has made reasonable changes to its accounting policies in accordance with relevant regulations, which will not significantly impact its financial statements[185]. - The company has no significant litigation or arbitration matters during the reporting period[189]. Market and Strategic Focus - The company is actively pursuing quality improvement and efficiency enhancement initiatives in response to the recovery of oil prices[58]. - The company plans to enhance its integrated geological engineering services capabilities through the Western Research Center project[89]. - The company aims to enhance oil recovery rates through advanced techniques, potentially increasing recoverable reserves and production[50]. - The company is creating a smart oilfield technology standard system to support high-quality oil and gas development, including the development of various robotic technologies for oil extraction and safety[104].

潜能恒信能源技术股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准 确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带 的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声 明：保证季度报告中财务信息的真实、准确、完整。 潜能恒信能源技术股份有限公司 2021 年第三季度报告 证券代码：300191 证券简称：潜能恒信 公告编号：2021-048 3.第三季度报告是否经过审计 □ 是 √ 否 一、主要财务数据 (一)主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 103,566,827.08 | 2.58% | 302,533,471.59 | -5 ...

Financial Performance - The company's operating revenue for the reporting period was CNY 198,966,644.51, a decrease of 9.76% compared to CNY 220,493,728.88 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was CNY 15,003,416.98, representing a significant increase of 213.92% from CNY 4,779,447.10 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 14,825,577.32, also up by 213.10% compared to CNY 4,735,138.88 last year[19]. - The basic earnings per share increased to CNY 0.0469, a rise of 214.77% from CNY 0.0149 in the same period last year[19]. - The total assets at the end of the reporting period were CNY 1,563,653,910.59, reflecting a 1.22% increase from CNY 1,544,808,293.86 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 1,211,090,480.42, which is a 0.65% increase from CNY 1,203,218,732.95 at the end of the previous year[19]. - The net cash flow from operating activities was negative at CNY -3,869,774.46, a decline of 103.15% compared to CNY 122,893,121.78 in the same period last year[19]. - The weighted average return on net assets was 1.24%, an increase of 0.84% from 0.40% in the previous year[19]. Exploration and Development - The company successfully discovered new oil reserves in the Bohai 05/31 contract area, with an additional 16.04 million tons of crude oil geological reserves confirmed[28]. - The company is actively preparing for drilling operations in the Bohai 09/17 contract area, with three exploratory wells planned[30]. - In the Nanhai Weizhou 22/04 contract area, the company has completed geological design for one exploratory well and is advancing engineering design and preparatory work[30]. - The company has established a technical task force to enhance exploration efforts in key oil fields, focusing on high-tech oil discovery methods[27]. - The company is committed to a comprehensive evaluation and deployment strategy for oil and gas exploration, integrating geological and geophysical studies[29]. - The company aims to achieve a dual breakthrough in exploration and evaluation of the Carboniferous system, focusing on production increase and reserve enhancement[31]. - The company is conducting feasibility studies for the development of the Weizhou 10-3 oil field in the North South China Sea, optimizing geological reservoir development plans[32]. - The company is advancing the development of intelligent oil-finding robots to enhance exploration efficiency and accuracy while reducing manual errors[33]. Financial Management and Investments - The company plans not to distribute cash dividends or issue bonus shares[5]. - The total amount of raised funds is ¥77,712.13 million, with ¥4,000.16 million invested during the reporting period[54]. - The cumulative amount of raised funds invested is ¥73,220.42 million, with a total of ¥4,000.16 million repurposed during the reporting period[54]. - The company has committed to several investment projects, including a seismic data processing center with a total investment of ¥19,742.5 million, fully completed[55]. - The company has allocated 10,292.01 million to establish a wholly-owned subsidiary, which has been registered and is operational[57]. - The company has adjusted its project focus from traditional services to integrated oil exploration and development services, enhancing operational efficiency and cost savings[57]. - The company plans to redirect unused fundraising to support the Bohai 05/31 exploration project through an increase in capital for its BVI subsidiary[57]. Risks and Challenges - The company faces risks related to international operations, including legal risks and currency fluctuations, which could adversely affect overall operations and profitability[72]. - The company is exposed to significant risks from fluctuations in international oil prices, which directly impact the demand for traditional oilfield services[73]. - The exploration and development activities are subject to environmental impact assessments and government approvals, which may delay operations[79]. - The company emphasizes the importance of preventing environmental pollution during offshore operations, which could lead to financial liabilities[80]. Shareholder Information - The total number of shares is 320,000,000, with 35.31% (112,980,000 shares) being restricted shares and 64.69% (207,020,000 shares) being unrestricted shares[139]. - The largest shareholder, Zhou Jinming, holds 42.08% (134,640,000 shares) of the total shares, having reduced his holdings by 16,000,000 shares during the reporting period[141]. - The company has not issued any new shares or conducted any stock splits during the reporting period[139]. - There were no significant lawsuits or arbitration matters during the reporting period[106]. Operational Efficiency - The company is focusing on cost control and efficiency improvement to ensure the completion of annual production and operational targets amid challenging market conditions[31]. - The company has developed over 50 core software products, including WEFOX, SinoGeoStar, and MAVORICK, enhancing its competitive edge in oil exploration technology[37]. - The company has established a large-scale computing cluster system with over 2,000 nodes, supporting complex geological data processing[37]. - The company is innovating its business model by applying high-success-rate oil finding technology to both new and old oil fields, aiming for low-cost, low-risk, and high-efficiency investment strategies[36]. Future Outlook - The company plans to continue focusing on market expansion and new technology development to enhance future growth prospects[165]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its service offerings[186]. - The company has plans for future market expansion and product development to enhance revenue streams[181].

Financial Performance - The company's operating revenue for Q1 2021 was ¥97,998,056.18, a decrease of 23.86% compared to ¥128,714,558.45 in the same period last year[7] - The net profit attributable to shareholders for Q1 2021 was ¥6,608,471.74, down 36.45% from ¥10,398,844.99 in the previous year[7] - Basic earnings per share for Q1 2021 were ¥0.02, a decline of 33.33% from ¥0.03 in the same period last year[7] - The net profit attributable to shareholders decreased by 36.45% compared to the previous year, primarily due to the transfer of 30% equity in the oil and gas contract in July 2020[14] - The net profit for Q1 2021 was CNY 2,876,173.48, a significant improvement compared to a net loss of CNY 3,499,526.82 in the same period last year, marking a turnaround of approximately 182%[46] - The total comprehensive income for the quarter was CNY 2,876,173.48, compared to a comprehensive loss of CNY 3,499,526.82 in Q1 2020, reflecting a positive shift in overall financial health[47] Cash Flow - The net cash flow from operating activities decreased by 83.42%, amounting to ¥14,070,723.32 compared to ¥84,864,806.12 in the same period last year[7] - Cash received from operating activities decreased by 43.91% compared to the previous year, mainly due to reduced cash from oil and gas collection business[14] - Cash flow from operating activities generated a net amount of CNY 14,070,723.32, down 83.5% from CNY 84,864,806.12 in the previous year[50] - The cash outflow for operating activities totaled CNY 112,335,890.29, up from CNY 99,545,657.99 in the previous year, indicating increased operational expenditures[50] - The cash inflow from investment activities was CNY 30,346,998.70, an increase from CNY 22,169,713.16 in the previous year, showing a growth of 36.5%[50] - The company reported cash outflow from investment activities of CNY 67,983,819.83, significantly higher than CNY 2,109,590.73 in the same period last year, indicating increased investment activity[50] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,564,513,290.63, reflecting a 1.28% increase from ¥1,544,808,293.86 at the end of the previous year[7] - The company's total assets amounted to CNY 1,639,855,450.03, slightly down from CNY 1,647,815,888.35[38] - Total liabilities decreased to CNY 250,252,769.88 from CNY 261,089,381.68[38] - Total current liabilities rose to CNY 83,082,583.05 from CNY 72,938,891.44, marking an increase of about 13.8%[34] - The company's total equity as of March 31, 2021, was CNY 1,212,726,485.53, up from CNY 1,205,532,886.08 at the end of 2020[35] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,848[10] - Major shareholder Zhou Jinming holds 47.08% of the shares, with 150,640,000 shares pledged[10] Investment and Projects - The company plans to conduct drilling operations in the 09/17 contract area in the first half of 2021, leveraging existing oilfield facilities for faster production transition[15] - The total amount of the drilling service contract for the 09/17 contract area is estimated at 163.76 million RMB[16] - The company has committed to investing in the Mongolia "Ergel-12 Block Exploration and Mining Project" using remaining funds from previous projects[21] - The company plans to invest approximately $70 million in the Bohai 05/31 exploration and development project, with $40 million sourced from additional raised funds and the remainder from self-owned funds and bank loans[23] Financial Management - Financial expenses increased by 49.12% compared to the previous year, mainly due to reduced interest income from term deposits[14] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[28] - There were no violations regarding external guarantees during the reporting period[27] - The company did not undergo an audit for the first quarter report[56] - The company did not apply the new leasing standards for the first quarter[55]

Financial Performance - The company achieved operating revenue of CNY 425,171,413.96 in 2020, representing a year-on-year increase of 143.61%[18]. - The net profit attributable to shareholders was CNY 10,483,698.84, a decrease of 59.95% compared to 2019[18]. - The net profit after deducting non-recurring gains and losses was CNY 5,890,971.15, down 75.40% year-on-year[18]. - The net cash flow from operating activities reached CNY 210,166,615.11, an increase of 407.28% compared to the previous year[18]. - The total assets at the end of 2020 were CNY 1,544,808,293.86, a decrease of 12.69% from the end of 2019[18]. - The company reported a significant increase in oil and gas revenue, surpassing technical service revenue for the first time, indicating a strategic transformation[26]. - The company achieved an annual crude oil production of 592,000 tons in the Jiu1-Jiu5 block, successfully completing all production and operational indicators[40]. - The company reported a total revenue of 77,712.13 million, a significant increase from 69,220.26 million, reflecting a growth of approximately 12.5%[85]. - The operating profit was CNY 18.88 million, a decrease of 54.53% year-on-year[54]. - The company reported a significant increase in crude oil sales volume to 192,803.91 tons, up 1,095.57% from 16,126.55 tons in the previous year[61]. Strategic Transformation - The company achieved oil and gas revenue surpassing technical service revenue for the first time, marking a strategic transformation despite a decline in traditional service income due to the pandemic and oil price war[5]. - The company is committed to controlling production pace and scientifically formulating exploration and development plans to enhance operational efficiency[5]. - The company plans to enhance exploration and production efforts, focusing on high-end technology research and development to adapt to market fluctuations[5]. - The company aims to achieve a strategic transformation into a comprehensive international energy company through the integration of technology services and exploration rights[46]. - The company has developed a high-success-rate oil finding technology, which has enabled it to transition from a service-oriented company to a comprehensive international energy company, enhancing its competitive edge in the oil and gas sector[44]. - The company plans to shift its focus from traditional technical services to a comprehensive resource-based company, combining oil and gas resources with advanced exploration technology services[85]. Operational Challenges - The company faced significant challenges in 2020 due to the COVID-19 pandemic and a drastic drop in oil prices, affecting its traditional service revenue streams[5]. - The gross profit from oil and gas extraction decreased due to the international oil price crash, impacting overall financial performance[5]. - The company experienced a decrease in technical service revenue due to the pandemic and strategic adjustments, impacting overall profitability[27]. - The company faced challenges due to the COVID-19 pandemic and a drop in international oil prices, impacting profit margins[54]. - The volatility of international oil prices poses a significant risk, impacting the demand and profitability of the company's traditional oilfield services[108]. Exploration and Development - The company has deployed 6 well locations in the Bohai 05/31 contract area, with one well selected as the target for drilling in 2021, laying the foundation for further development evaluation[28]. - The company has identified 30 exploration targets in the Bohai 09/17 contract area, with the first batch of drilling focusing on three favorable targets[31]. - The company has estimated a resource volume of approximately 24.16 million tons in the Saihan Wuliji oilfield, with a favorable trap area of about 48.7 square kilometers identified[34]. - The company is utilizing advanced AI technology for detailed structural interpretation and reservoir prediction across 13 oil layers in the Bohai 09/17 contract area[29]. - The company plans to complete the integrated processing and interpretation of high-density 3D seismic data by July 2021, enhancing the exploration and development of shallow heavy oil layers[35]. - The company has identified six favorable oil and gas trap clusters in the Bohai 09/17 contract area, predicting significant resource potential and selecting three initial exploratory well locations[37]. Technology and Innovation - The company focused on technological and management innovation to enhance efficiency and reduce costs during the pandemic[26]. - The company is developing an artificial intelligence-based oil exploration robot, which includes several intelligent evaluation and modeling tools to support future exploration efforts[40]. - The company is committed to enhancing its competitive edge through continuous research and development in energy technology[50]. - The company has a robust pipeline of software innovations, with recent releases aimed at improving data extraction and seismic analysis[51]. - The company emphasizes the development of unconventional oil and gas exploration technologies, indicating a strategic focus on emerging market opportunities[51]. Financial Management - A cash dividend of 0.2 RMB per 10 shares (including tax) will be distributed to shareholders based on a total share capital of 32 million shares as of December 31, 2020[6]. - The company has a total of over 50 core software systems, including WEFOX and SinoGeoStar, and has invested in advanced computing clusters to support its exploration activities[46]. - The company has a remaining balance of ¥8,491,870 in idle raised funds that have not been used for over two years[82]. - The company has not experienced any violations in the management of raised funds during the reporting period[88]. - The company has committed to returning 30% of the borrowed funds from the controlling shareholder, amounting to RMB 60 million, following the transfer of contract rights[122]. Shareholder and Governance - The company has maintained a consistent cash dividend policy over the past three years, distributing RMB 6,400,000 annually[131]. - The company has not conducted any investor meetings or communications during the reporting period[124]. - The company’s major shareholders have pledged to avoid any related party transactions that could significantly impact the company's financial condition[134]. - The company has a total of 16,500 shareholders at the end of the reporting period, an increase from 14,848 at the previous month-end[191]. - The company has not engaged in any repurchase transactions during the reporting period[194]. Risk Management - The company has established a risk management framework to mitigate the economic risks associated with international oil price fluctuations, which significantly affect project economics[115]. - The company faces risks related to international operations, including legal risks and currency fluctuations, which could adversely affect overall operations and profitability[108]. - The company is responsible for health, safety, and environmental management during oil operations, with increasing regulatory scrutiny on safety and environmental protection[123]. - The company faces high risks associated with offshore oil operations due to environmental factors and complex technology, necessitating strict adherence to safety and environmental protection measures[118]. Future Plans - The company plans to enhance its high-end technology research and development capabilities, focusing on differentiated, safe, and low-cost operational strategies to mitigate uncertainties in the oil industry[99]. - The company aims to complete feasibility studies and basic designs for the development of the Weizhou 10-3 oil field, while also conducting environmental assessments[105]. - The company plans to secure funding for its oil contracts through various means, including self-funding, bank loans, and shareholder financing, with a commitment from the controlling shareholder to provide at least RMB 200 million[122]. - The company plans to increase investment in the 05/31 block due to favorable exploration conditions and low costs associated with current oil prices[86].

Financial Performance - Operating revenue increased by 227.79% to CNY 100,964,105.50 for the current period, and by 314.91% to CNY 321,457,834.38 year-to-date[7] - Net profit attributable to shareholders decreased by 93.63% to CNY 163,450.35 for the current period, and by 41.77% to CNY 4,942,897.45 year-to-date[7] - Basic earnings per share decreased by 93.75% to CNY 0.0005 for the current period, and by 41.89% to CNY 0.0154 year-to-date[7] - The company's operating revenue for the current period is CNY 13,527,067.85, a decrease from CNY 36,675,037.22 in the previous period[41] - The net profit for the current period is CNY -789,067.44, compared to CNY 21,615,390.29 in the previous period, indicating a significant decline[42] - The total comprehensive income for the current period is CNY -789,067.44, compared to CNY 21,615,390.29 in the previous period[43] - The company's total operating costs for the current period are CNY 314,981,861.45, up from CNY 61,869,568.79 in the previous period[44] - The company reported a total comprehensive income of CNY -3,117,298.92 for the current period, compared to CNY 45,457,328.25 in the previous period[51] Cash Flow - Net cash flow from operating activities increased by 496.49% to CNY 39,369,262.97 for the current period, and by 2,376.51% to CNY 162,262,384.75 year-to-date[7] - Cash received from operating activities increased by 676.86% compared to the previous period, amounting to an increase of ¥377,358,025.24, primarily due to increased crude oil sales collections[14] - The net cash flow from operating activities is CNY 162,262,384.75, a substantial increase from CNY 6,552,068.31 in the previous period[54] - The company's cash inflow from operating activities totaled CNY 459,546,405.97, significantly higher than CNY 60,995,957.18 in the previous period[54] - The cash outflow from operating activities increased to CNY 297,284,021.22 from CNY 54,443,888.87 in the previous period, indicating higher operational costs[54] - Total cash inflow from operating activities reached ¥222,603,038.58, compared to ¥25,864,323.35 in the previous year, indicating a year-over-year increase of approximately 759%[56] Assets and Liabilities - Total assets decreased by 8.38% to CNY 1,621,189,826.74 compared to the end of the previous year[7] - Total liabilities decreased to ¥416,232,876.20 from ¥562,740,473.42 year-over-year[30] - The company reported a significant reduction in current liabilities, which totaled ¥131,265,933.48 compared to ¥197,361,594.38 at the end of 2019[30] - Total assets as of September 30, 2020, were CNY 1,701,964,534.10, down from CNY 1,752,491,650.91 at the end of 2019[34] - Current assets decreased to CNY 733,427,071.89 from CNY 756,240,835.67 year-over-year[33] - The company's equity attributable to shareholders was CNY 1,366,318,313.04, down from CNY 1,375,835,611.96 at the end of 2019[34] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,391[10] - The largest shareholder, Zhou Jinming, holds 47.08% of the shares, with 150,640,000 shares pledged[10] Operational Highlights - The company signed a strategic cooperation framework agreement with the government of Karamay City to enhance oil and gas resource development[16] - The company has established a joint research agreement with CNOOC for the Nansha Weizhou 10-3 West Oilfield and 22/04 block, covering an area of approximately 117 square kilometers[17] - The company plans to set up a wholly-owned subsidiary in Karamay to promote its oil and gas resource exploration and development, as well as petroleum engineering technology services[17] Inventory and Receivables - Accounts receivable decreased by 44.84% compared to the end of 2019, amounting to a reduction of ¥75,865,446.83, primarily due to collections from previous receivables[14] - Inventory increased by 126.23% compared to the end of 2019, with an increase of ¥1,782,546.76, mainly due to the rise in crude oil inventory at the end of September for the Jiu1-Jiu5 project[14] Financial Expenses and Income - The company reported a significant increase in financial expenses, totaling CNY 3,681,666.07 compared to a negative expense of CNY -5,338,732.05 in the previous year[37] - The financial expenses for the current period are CNY 1,728,685.64, compared to CNY -3,057,004.77 in the previous period, indicating a reversal in financial performance[41] - The company reported a decrease in investment income to CNY 2,613,981.49 from CNY 5,984,271.57 in the previous period, reflecting a decline of 56.3%[49] Other Information - The company did not engage in any repurchase transactions during the reporting period[11] - The company did not undergo an audit for the third quarter report[59] - The company has not applied new revenue and leasing standards for the current year[59]

Financial Performance - The company's operating revenue for the reporting period reached ¥220,493,728.88, representing a significant increase of 372.40% compared to ¥46,674,847.12 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was ¥4,779,447.10, a decrease of 19.29% from ¥5,921,604.14 in the previous year[17]. - The net cash flow from operating activities was ¥122,893,121.78, a remarkable increase of 255,457.61% compared to -¥48,125.89 in the same period last year[17]. - The basic earnings per share decreased to ¥0.0149, down 19.46% from ¥0.0185 in the previous year[17]. - Total assets at the end of the reporting period were ¥1,700,495,507.70, a decrease of 3.90% from ¥1,769,423,268.38 at the end of the previous year[17]. - The net assets attributable to shareholders of the listed company were ¥1,203,884,250.10, a slight decrease of 0.09% from ¥1,205,008,416.69 at the end of the previous year[17]. - The weighted average return on net assets was 0.40%, down from 0.50% in the previous year[17]. - The net profit after deducting non-recurring gains and losses was ¥4,735,138.88, a decrease of 21.43% from ¥6,026,809.42 in the same period last year[17]. - The company reported a significant increase in cash flow from operating activities, reaching CNY 122.89 million, a 255,457.61% increase compared to the previous period[53]. - The company experienced a net increase in cash and cash equivalents of CNY 67.74 million, a 236.71% increase from the previous period[53]. - The company reported a total comprehensive income of CNY 8,122,191.16 for the first half of 2020, compared to CNY 1,454,902.42 in the same period of 2019, indicating a substantial increase in overall profitability[173]. - The company reported a net loss of CNY 6.4 million for the first half of 2020, indicating a significant impact on profitability[196]. Investment and Development - The company has outlined potential risks and corresponding countermeasures in its report, which investors are encouraged to review[4]. - The company focused on seven oil and gas blocks, leading to a substantial increase in total revenue and new discoveries in the Bohai Bay area[25]. - The company deployed 30 exploratory well locations in the southern fault step area, identifying four favorable targets for the first batch of exploratory wells[27]. - The company estimated a resource volume of approximately 2.3 million tons in the Tengyi section and potential favorable trap areas of about 23 square kilometers in the Saihan Wuliji block[30]. - The company has successfully reserved 5 domestic and 2 overseas oil blocks, including the Bohai 05/31 block and the Bohai 09/17 block, enhancing its resource base[38]. - The company has developed a comprehensive integrated exploration and development business model based on high-precision WEFOX imaging data and accurate oil and gas predictions, ensuring high-quality differentiated development in oil and gas exploration and production[41]. - The company has committed to invest $90 million in stages for the development and exploration of the Weizhou 10-3 West oil field and the 22/04 area, with a 30-year product sharing contract in place[86]. - The company plans to utilize proprietary exploration technology and enhanced oil recovery (EOR) techniques to increase production and reduce operational costs[97]. - 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[65]. Risk Management - The company has faced challenges due to the continuous decline in international oil prices, impacting the economic feasibility of exploration and development investments[64]. - The company is taking measures to manage risks associated with the significant drop in international oil prices, which could impact the oilfield service industry[79]. - The company faces risks related to international operations, including legal risks and currency fluctuations, which could adversely affect overall operations and profitability[79]. - The company is enhancing its talent reserve and safety management for offshore oil operations to mitigate environmental and operational risks[83]. - The company has emphasized quality management and risk reduction strategies in its exploration activities, aiming for low-cost, low-risk, and high-efficiency investment strategies[42]. Technological Innovation - The company utilized WEFOX technology to improve seismic data quality, significantly enhancing imaging for oil and gas exploration[26]. - The company achieved a notable improvement in seismic imaging quality for the Nanhai Weizhou 22/04 contract area, providing reliable initial models for future exploration[29]. - The company has developed a high-success-rate oil finding technology, transitioning from a service-oriented model to an integrated energy company with exploration and production capabilities[37]. - The company is focusing on technological innovation and has established a professional team for oil and gas exploration and development, enhancing its service capabilities[40]. - The company has filed 10 invention patents related to geothermal energy systems and methods, currently under substantive examination, indicating ongoing innovation efforts[44]. Financial Management - The total amount of raised funds was ¥77,712.13 million, with ¥5,000 million invested during the reporting period and a cumulative investment of ¥64,220.26 million[60]. - The company has committed 3,000 million yuan in bank wealth management products and 11,000 million yuan in broker wealth management products, totaling 14,000 million yuan in entrusted wealth management[71]. - The company has established a new dedicated account for managing raised funds to improve operational efficiency[66]. - The company has not reported any violations in the management of raised funds, ensuring timely and accurate disclosures[66]. - The company has not engaged in derivative investments during the reporting period[74]. Shareholder Information - The number of shareholders at the end of the reporting period was 18,755, with significant shareholders holding over 5% of the shares[143]. - The largest shareholder, Zhou Jinming, holds 47.08% of the shares, amounting to 150,640,000 shares, while Zhou Zilong holds 10.38% with 33,220,000 shares[143]. - The company did not issue any preferred shares or convertible bonds during the reporting period[149][152]. - The company has not engaged in any major related party transactions during the reporting period[111]. Operational Challenges - The COVID-19 pandemic has negatively impacted the service market, particularly overseas, potentially delaying exploration and development progress[98]. - The company has not reported any new product launches or technological advancements during this period[192]. - The overall financial outlook remains cautious due to the reported losses and equity reductions[193]. - The company plans to focus on new product development and market expansion strategies in the upcoming quarters[186].