Financial Performance - Total revenue for Q1 2020 reached ¥128,714,558.45, a significant increase of 435.46% compared to ¥24,038,218.26 in the same period last year[7] - Net profit attributable to shareholders was ¥10,398,844.99, up 146.39% from ¥4,220,466.82 year-on-year[7] - Net profit excluding non-recurring gains and losses was ¥10,395,856.58, reflecting a 155.20% increase from ¥4,073,653.20 in the previous year[7] - Basic earnings per share rose to ¥0.0325, a 146.21% increase from ¥0.0132 year-on-year[7] - Operating profit for Q1 2020 was CNY 15,419,216.15, compared to CNY 6,651,789.60 in Q1 2019, indicating an increase of about 131.9%[40] - Net profit for Q1 2020 reached CNY 12,088,968.29, up from CNY 4,296,695.65 in Q1 2019, reflecting a growth of approximately 180.5%[40] - The total comprehensive income for Q1 2020 was CNY 15,167,474.39, compared to CNY 1,573,725.84 in the same period last year, marking a growth of approximately 862.5%[41] Cash Flow - Net cash flow from operating activities surged to ¥84,864,806.12, marking an increase of 1,584.87% compared to ¥5,036,867.74 in the same period last year[7] - Cash inflow from operating activities amounted to 184,410,464.11 CNY, a significant increase from 22,421,244.57 CNY in the previous period[48] - The net cash flow from operating activities was 84,864,806.12 CNY, compared to 5,036,867.74 CNY in the previous period, indicating strong operational performance[48] - Cash outflow for investing activities was 2,109,590.73 CNY, down from 397,711,512.95 CNY in the previous period, reflecting a reduction in capital expenditures[48] - The net cash flow from investing activities was 20,060,122.43 CNY, a significant improvement from -296,501,584.73 CNY in the previous period[48] - The net cash flow from financing activities was -3,464,643.40 CNY, compared to 19,684,899.19 CNY in the previous period, indicating a decrease in financing activities[49] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,795,628,256.80, a 1.48% increase from ¥1,769,423,268.38 at the end of the previous year[7] - Total liabilities rose to CNY 575,984,426.07 from CNY 562,740,473.42, marking an increase of approximately 2.2%[32] - The total current liabilities increased to CNY 206,476,792.66 from CNY 197,361,594.38, reflecting a rise of about 4.3%[32] - The company's equity attributable to shareholders increased to CNY 1,215,453,069.15 from CNY 1,205,008,416.69, a growth of about 0.2%[33] - Current assets totaled CNY 832,382,618.45, up from CNY 790,950,496.28, indicating an increase of about 5.4%[30] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,322[10] - The largest shareholder, Zhou Jinming, holds 47.08% of the shares, with 150,640,000 shares, of which 112,980,000 are pledged[10] Investment Activities - The investment in the oil exploration seismic data processing center project was 15,184.6 million, achieving 100% of the planned investment[20] - The oil exploration technology research and development center project also achieved 100% of the planned investment with 4,080.32 million invested[20] - The company plans to redirect remaining funds to the Bohai 05/31 exploration and development project due to changes in client needs[21] - The company has committed to using all remaining raised funds for further investments in its subsidiaries[22] Operational Costs - "Operating costs" increased by 1014.29% compared to the previous period, corresponding to the rise in oil and gas sales revenue[6] - The company reported a total operating cost of CNY 108,687,577.55 for Q1 2020, up from CNY 18,533,778.75 in Q1 2019, which is an increase of about 485.5%[39] Compliance and Management - The company has not experienced any violations regarding the management of raised funds during the reporting period, ensuring timely and accurate disclosures[26] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[26] - The company has not temporarily used idle raised funds to supplement working capital during the reporting period[24] - The company has implemented new revenue and leasing standards starting in 2020, but this does not apply to the current financial report[53]

Financial Performance - The company's operating revenue for 2019 was ¥174,530,530.65, representing a 59.89% increase compared to ¥109,158,820.27 in 2018[17] - The net profit attributable to shareholders decreased by 9.72% to ¥26,178,396.51 from ¥28,998,453.63 in the previous year[17] - The net profit after deducting non-recurring gains and losses surged by 596.21% to ¥23,946,414.69, up from ¥3,439,530.98 in 2018[17] - The net cash flow from operating activities was negative at -¥68,395,907.27, a decline of 380.73% compared to ¥24,363,751.99 in 2018[17] - The total assets at the end of 2019 reached ¥1,769,423,268.38, marking a 26.38% increase from ¥1,400,044,324.59 in 2018[17] - The net assets attributable to shareholders increased by 1.85% to ¥1,205,008,416.69 from ¥1,183,065,532.39 in the previous year[17] - The basic earnings per share for 2019 was ¥0.08, a decrease of 11.11% from ¥0.09 in 2018[17] - The diluted earnings per share also stood at ¥0.08, reflecting the same 11.11% decline compared to the previous year[17] - The weighted average return on equity was 2.19%, down from 2.48% in 2018[17] Revenue Sources and Growth - The main revenue sources included oil exploration technology and engineering services at CNY 79.11 million (45.33% of total revenue), oil and gas extraction at CNY 45.69 million (26.18%), and leasing at CNY 49.73 million (28.49%), with leasing revenue increasing by 238.50%[55] - The company reported a significant increase in oil exploration technology service revenue, which rose by 195.02% to CNY 74.37 million[55] - Revenue from the western region was CNY 46.64 million, a staggering increase of 13,504.18% year-on-year[56] - Revenue from the eastern region reached CNY 115.49 million, up 2,732.53% compared to the previous year[56] Strategic Initiatives - The company is committed to a strategic transformation towards becoming a comprehensive international company focused on low-cost oil and gas resources and advanced oil finding technology[27] - The company is implementing a "technology for equity" strategy to enhance its oil and gas development efforts[27] - The company formed a strategic partnership with Shandong Marine Energy Co., Ltd. to operate high-end offshore drilling platforms[27] - The company signed a strategic cooperation agreement with Sinopec Geophysical Company to enhance collaboration in intelligent equipment manufacturing and geophysical exploration, leading to a continuous increase in rental income from geophysical equipment[31] Investments and Projects - The company secured rights for the Bohai 09/17 oil exploration block and the Junggar Basin 9195 oil production block, enhancing its resource reserves[27] - The company established a joint venture, Qingdao Northern Potential Marine Engineering Co., Ltd., to enhance its capital strength and integrated capabilities in offshore oil and gas exploration[39] - The company invested RMB 150 million in the joint venture, Qingdao Northern Potential Marine Engineering Co., Ltd., increasing its external investment[40] - The company has committed to various projects, including oil exploration technology research, with a total commitment of 4,872.56 CNY and full utilization[90] Cash Flow and Financial Management - Operating cash inflow decreased by 39.19% to ¥81.71 million, while cash outflow increased by 36.44% to ¥150.11 million, resulting in a net cash flow deficit of ¥68.40 million[71] - The company's cash and cash equivalents decreased by 105.31 million RMB, a decline of 143.77% compared to the previous year[72] - The accounts receivable increased to 169.21 million RMB, accounting for 9.56% of total assets, up from 3.53% the previous year, due to increased operating income and delayed settlements[76] - The long-term equity investment increased by 152.77 million RMB, representing 8.63% of total assets, due to a 150 million RMB investment in Qingdao Northern Potential Marine Engineering Co., Ltd.[76] Risk Management and Challenges - The company faces risks related to international operations, including legal and currency risks, and plans to enhance management of overseas subsidiaries to mitigate these risks[116] - The company is actively addressing the risk of significant declines in international crude oil prices, which could impact the oilfield service industry and production areas[116] - The company is facing intensified competition in the oil and gas exploration sector due to new policies that are expected to attract more market participants[117] - The company has identified a significant opportunity for cost reduction and efficiency improvement in response to the low oil price environment, emphasizing the need for rational investment[108] Corporate Governance and Compliance - The actual controller and shareholders fulfilled their commitments during the reporting period, with no violations reported[145] - The company has not reported any violations of commitments related to social insurance and housing fund payments during the reporting period[145] - The company emphasizes compliance with national laws and regulations, ensuring fair treatment of all investors and maintaining transparency in operations[190] - The company has not engaged in any violations regarding the management of raised funds, maintaining timely and accurate disclosures[97] Future Outlook - The company plans to optimize asset allocation and reduce unnecessary expenditures in response to the ongoing pandemic and low oil prices, aiming for a strategic transformation into a comprehensive international energy company[109] - The company intends to implement a counter-cyclical investment strategy during low oil prices, shifting focus from production to increasing exploration and evaluation efforts[111] - The company plans to secure funding through various means, including self-funding, bank loans, and shareholder financing, to avoid unconditional withdrawal from the 10-3 West oilfield project[125]

Financial Performance - Operating revenue for the reporting period was CNY 30,801,288.79, an increase of 29.31% year-on-year, while year-to-date revenue decreased by 13.06% to CNY 77,476,135.91[7] - Net profit attributable to shareholders for the reporting period was CNY 2,566,506.95, up 46.97% year-on-year, but down 20.48% year-to-date to CNY 8,488,111.09[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,163,280.09, an increase of 30.92% year-on-year, with a year-to-date decrease of 31.09% to CNY 7,190,089.50[7] - The basic earnings per share for the reporting period was CNY 0.0080, an increase of 45.45% year-on-year, while year-to-date it decreased by 20.66% to CNY 0.0265[7] - The total comprehensive income attributable to the parent company for Q3 2019 was CNY 3,222,171.29, compared to CNY 1,742,327.89 in Q3 2018, indicating a positive trend in overall performance[43] - The total comprehensive income for the year-to-date period was ¥21,615,390.29, compared to ¥3,947,260.45 in the previous year, marking a substantial increase[47] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,327,479,398.28, a decrease of 5.18% compared to the end of the previous year[7] - The total assets as of September 30, 2019, amounted to CNY 1,443,025,397.65, an increase from CNY 1,371,079,969.39 at the end of 2018[40] - The company's total liabilities as of September 30, 2019, were CNY 98,807,786.80, compared to CNY 65,919,686.79 at the end of 2018, reflecting a significant increase[39] - The company's long-term equity investments rose to CNY 676,540,250.00 from CNY 611,540,250.00 year-over-year, showing growth in investment activities[38] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 6,552,068.31, an increase of 131.75%[7] - Cash received from investment increased by 1,397.20% year-on-year, primarily due to the full recovery of matured wealth management products[22] - Cash inflow from investment activities totaled CNY 273,947,609.28, significantly up from CNY 8,559,789.11 in the previous period[62] - Net cash flow from investment activities was CNY 177,124,027.24, a turnaround from a negative CNY 96,423,876.84 in the previous period[62] - The net increase in cash and cash equivalents was CNY 160,851,507.38, compared to a decrease of CNY 75,783,917.76 in the previous period[63] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 20,362[11] - The largest shareholder, Zhou Jinming, held 47.08% of the shares, with 150,640,000 shares pledged[11] Operational Changes and Agreements - The company signed an agreement to transfer 1.04% of the revenue rights of the Bohai 05/31 contract area to Northern Offshore, valued at 50 million RMB[19] - A joint venture was established with Northern Oilfield (Tianjin) Marine Energy Engineering Co., Ltd. with a registered capital of 1.5 billion RMB, where the company holds a 10% stake[20] - The company plans to use up to 300 million RMB of idle funds to purchase safe and liquid wealth management products[21] Tax and Financial Expenses - The company’s tax payments increased by 70.61% year-on-year, mainly due to income tax from the disposal of Reinecke's old oilfield interests[22] - Financial expenses increased by 30.06% year-on-year, attributed to reduced foreign exchange gains compared to the previous year[18] Management and Operational Costs - The company's management expenses increased to CNY 18,682,891.78 in Q3 2019, up from CNY 13,733,728.57 in the same period last year, reflecting higher operational costs[42] - The company reported a decrease in sales expenses and management expenses, with management expenses at ¥13,390,097.58, down from ¥14,057,769.50[53] Accounting and Compliance - The company has implemented changes in accounting policies in accordance with the Ministry of Finance's requirements, which will not significantly impact the financial statements[25] - The company has no violations regarding external guarantees during the reporting period[27] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[28] - The company did not undergo an audit for the third quarter report[64]

Financial Performance - Total operating revenue for the first half of 2019 was CNY 46,674,847.12, a decrease of 28.52% compared to CNY 65,295,231.17 in the same period last year[17]. - Net profit attributable to shareholders was CNY 5,921,604.14, down 33.67% from CNY 8,927,719.91 year-on-year[17]. - Basic earnings per share decreased to CNY 0.0185, down 33.69% from CNY 0.0279 in the same period last year[17]. - The net profit for the reporting period was RMB 6,196,678.40, a decrease of 37.40% compared to RMB 9,898,118.75 in the same period last year[50]. - Operating revenue from oil exploration technology and engineering services was RMB 41,082,787.51, down 7.97% year-on-year, with a gross margin of 62.13%, which is an increase of 26.61% compared to the previous year[52]. - The total comprehensive income for the first half of 2019 was 23,841,937.96 CNY, reflecting a significant increase compared to the previous period[188]. Cash Flow and Investments - The net cash flow from operating activities was CNY -48,125.89, a decline of 100.34% compared to CNY 13,959,400.58 in the previous year[17]. - The net cash flow from investing activities was CNY -61.73 million, a decrease of 128.38% due to increased purchases of financial products[49]. - The total amount of cash and cash equivalents decreased by 121.08% to a net decrease of RMB 49,550,323.15, indicating a significant reduction in cash flow[50]. - The cash flow from financing activities resulted in a net outflow of 6,400,000.00 CNY, compared to a smaller outflow of 1,123,400.00 CNY in the previous year[178]. - The total cash inflow from investment activities was 141,671,771.43 CNY, down from 216,464,923.66 CNY year-over-year[178]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,314,266,253.40, a decrease of 6.13% from CNY 1,400,044,324.59 at the end of the previous year[17]. - The company's total liabilities were RMB 101,549,713.92 for current liabilities, slightly down from RMB 107,624,097.65 at the end of 2018[156]. - The total amount of guarantees provided by the company exceeds 50% of its net assets, amounting to 43,982.65 million RMB, which represents 87.34% of the company's net assets[119]. - The total liabilities as of June 30, 2019, were CNY 71,978,065.13, compared to CNY 65,919,686.79 at the end of 2018, reflecting an increase of 4.8%[161]. Strategic Initiatives and Projects - The company actively participated in domestic and international oil and gas resource bidding, continuing its transformation into a technology resource-oriented company[24]. - The company has outlined potential risks and corresponding countermeasures in its operational analysis section[4]. - The company is focusing on integrated geological-engineering services, enhancing its core competitiveness in technology services[25]. - The company plans to redirect unused raised funds to the Bohai 05/31 exploration and development project, following board approvals[64]. - The company aims to enhance operational efficiency and reduce costs by transitioning the Western Research Center project to a comprehensive service model[68]. Research and Development - Research and development investment increased by 1.61% to CNY 8.07 million[49]. - The company has filed 13 invention patents, which are currently under substantive examination[42]. - The company is developing new technologies and methods for geothermal energy storage and planning[42]. - The company has registered multiple trademarks, including "WEFOX," "SINOGEOSTAR," and "MAVORICK," enhancing its intellectual property portfolio[40]. Market and Operational Risks - The company faces risks from overseas operations due to trade relations, regulatory differences, and currency fluctuations, which could adversely affect overall operations and profitability[83]. - The oil price downturn has led to a decline in demand for traditional technical services, prompting the company to adopt flexible market strategies and enhance R&D efforts to maintain competitiveness[83]. - The company acknowledges the uncertainty of exploration results and the potential financial losses if oil reserves do not meet expectations[88]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,920[140]. - The company’s major shareholder, Zhou Jinming, holds 47.08% of the shares, with a total of 91,822,430 shares pledged[140]. - The company’s total share capital is 320 million shares, with 35.31% being restricted shares[138]. Corporate Governance - The half-year financial report has not been audited[102]. - The company has not engaged in any significant related party transactions during the reporting period[108]. - There were no major lawsuits or arbitration matters during the reporting period[105].

Financial Performance - Total revenue for Q1 2019 was ¥24,038,218.26, a decrease of 28.76% compared to ¥33,741,984.52 in the same period last year[7] - Net profit attributable to shareholders was ¥4,220,466.82, representing a slight increase of 1.49% from ¥4,158,382.47 year-on-year[7] - Basic and diluted earnings per share were both ¥0.0132, reflecting a 1.54% increase from ¥0.0130 in the same period last year[7] - The company achieved operating revenue of 24.0382 million yuan in Q1 2019, a decrease of 28.76% compared to the same period last year[15] - Net profit attributable to the parent company for Q1 2019 was CNY 4,675,076.36, compared to CNY 5,869,375.91 in Q1 2018, reflecting a decline of 20.3%[40] - The total profit for Q1 2019 reached CNY 6,825,330.90, compared to CNY 6,324,872.85 in the previous year, indicating an increase of about 7.9%[42] - The company's total comprehensive income for Q1 2019 was CNY 1,573,725.84, down from CNY 1,696,913.11 in the previous year, showing a decrease of about 7.2%[43] Cash Flow and Assets - Net cash flow from operating activities improved significantly to ¥5,036,867.74, a 385.35% increase from a negative cash flow of ¥1,765,157.49 in the previous year[7] - Cash and cash equivalents decreased by 56.45% at the end of the period compared to the end of 2018, primarily due to reclassification of time deposits and financial investments[14] - The total assets of the company decreased to ¥1,331,753,166.59 from ¥1,400,044,324.59, a decline of approximately 4.9%[32] - As of March 31, 2019, the company's cash and cash equivalents decreased to ¥213,078,800.61 from ¥489,306,394.43 at the end of 2018, representing a decline of approximately 56.4%[31] - Total current assets decreased to ¥838,301,762.31 from ¥926,550,832.28, reflecting a reduction of approximately 9.5%[32] - Non-current assets increased to ¥493,451,404.28 from ¥473,493,492.31, indicating a growth of about 4.0%[32] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,012[10] - The largest shareholder, Zhou Jinming, holds 47.08% of the shares, with 150,640,000 shares pledged[10] - The company reported a commitment from major shareholders to not transfer or manage their shares for 36 months post-IPO, ensuring stability in shareholding[17] - The company’s major shareholder, Zhou Jinming, committed to pay a total of 61 million yuan in outstanding payments to ensure compliance with financial obligations[18] Investments and Projects - The total amount of raised funds is CNY 77,712.13 million, with CNY 57,720.26 million already invested[21] - The investment in the oil exploration seismic data processing center project is CNY 15,184 million, with 100% completion[21] - The investment in the oil exploration technology research and development center project is CNY 4,080.3 million, also with 100% completion[21] - The company has decided to allocate the remaining funds from the oil and gas exploration project to the Ergel-12 block exploration and mining project in Mongolia[22] - The company plans to invest approximately $14.02 million of surplus raised funds and interest into the Ergel-12 exploration and development project[24] Operational Highlights - The company completed drilling work on the CFD1-2-3 well in the Bohai Sea, achieving a maximum daily oil flow of 134.42 cubic meters[15] - The company has adjusted its investment strategy to focus on integrated geological engineering services for oil exploration and development[23] - The company has shifted its exploration approach to utilize advanced seismic imaging technology for improved data quality and exploration efficiency[23] Regulatory and Compliance - The company is focused on maintaining compliance with regulatory requirements regarding social insurance and housing fund contributions[18] - The company has made commitments to avoid any related party transactions that could significantly impact its financial status[17] Financial Management - The company reported a significant reduction in financial expenses, which decreased to CNY 1,038,560.18 from CNY 4,583,478.40, a drop of 77.3%[40] - The company reported no idle raised funds used for temporary working capital during the reporting period[26] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[27]

Financial Performance - The company's operating revenue for 2018 was ¥109,158,820.27, representing a 32.94% increase compared to ¥82,108,327.83 in 2017[15] - The net profit attributable to shareholders in 2018 was ¥28,998,453.63, a significant turnaround from a loss of ¥16,778,804.48 in 2017, marking a 272.83% increase[15] - Basic earnings per share for 2018 were ¥0.0900, compared to a loss of ¥0.050 in 2017, reflecting a 280.00% increase[15] - The company's net assets attributable to shareholders increased by 2.50% to ¥1,183,065,532.39 at the end of 2018 from ¥1,154,188,572.66 in 2017[15] - The weighted average return on net assets was 2.48% in 2018, up from -1.44% in 2017, indicating improved profitability[15] - The company reported a significant increase in proven reserves due to exploration investments, with a focus on the potential acquisition of 100% equity in Yucheng Huifeng[122] - The company reported a revenue of approximately 693.63 million USD, with a net profit of around 58.69 million USD, reflecting a significant increase in performance compared to previous periods[89] Cash Flow and Investments - The net cash flow from operating activities was ¥24,363,751.99, down 63.51% from ¥66,774,459.08 in the previous year[15] - The net cash flow from investment activities surged by 29,051.31% to CNY 192,047,018.37, attributed to the disposal of certain equity interests in the Reinecke block[67] - The company has a total of $256 million in cash and cash equivalents allocated for normal operations and payments, representing 21.64% of the company's net assets[38] - The company has a remaining balance of 406,050,413.62 RMB in raised funds with no current usage plan[80] - The company has committed to using 4,000,000 USD of raised funds for the successful implementation of the oil contract with China National Offshore Oil Corporation[80] Exploration and Development - The company successfully completed drilling operations for two wells, CFD2-4-2D and CFD1-2-3, with the latter achieving a maximum daily oil flow of 134.42 cubic meters[28] - The company is advancing its exploration and development efforts in the Bohai Sea 05/31 contract area, achieving significant exploration results[27] - The company has successfully reserved five high-potential oil and gas blocks during the reporting period[24] - The company signed a product sharing contract with CNOOC for the Weizhou 10-3 West oil field and 22/04 block, with a development cost sharing ratio of 40% for the state company and 60% for the contractors, where Wisdom Oil holds a 25% interest[30] - The company plans to invest USD 90 million through its subsidiary to support the development and exploration of the Weizhou 10-3 West Oilfield and the 22/04 block[106] Revenue Sources - Revenue from oil and gas extraction increased by 62.50% to CNY 40.87 million, accounting for 37.44% of total revenue[53] - The oil and gas exploration and development business contributed significantly to revenue growth, alongside asset disposal gains from selling part of the Reinecke block[50] - The company reported a decrease in revenue from oil exploration technology services by 24.67% to CNY 25.21 million[52] - The gross profit margin for oil and gas extraction was 28.25%, showing an increase of 13.71% year-on-year[55] Strategic Initiatives - The company is focusing on deepening cooperation with existing clients in key markets such as the US and South Asia[26] - The company is actively involved in domestic and international high-end professional forums to strengthen its market presence and discuss energy transition trends[36] - The company aims to enhance its oil and gas exploration capabilities, with a focus on reducing investment risks and increasing exploration success rates through innovative technology and strategic acquisitions[92] - The company has established a "Joint Research Center for Artificial Intelligence" with China University of Petroleum to focus on AI applications in oil and gas exploration, aiming to enhance investment efficiency in oil and gas blocks[96] Shareholder and Governance - The proposed cash dividend for 2018 is CNY 0.20 per 10 shares, amounting to a total cash dividend of CNY 6,400,000.00, which represents 100% of the profit distribution[114] - The company has committed to covering any potential social insurance fees or fines that may arise from regulatory requirements[121] - The company has not violated any commitments regarding share transfers and related party transactions during the reporting period[121] - The company has established a comprehensive performance evaluation system and compensation policy for senior management[198] Risks and Challenges - The company faces risks from low oil prices affecting demand for traditional technical services, and it aims to adopt flexible market strategies to broaden market channels and enhance core competitiveness[98] - The company has identified risks related to overseas operations, including trade relations and regulatory differences, and plans to strengthen management of overseas subsidiaries to mitigate these risks[98] - The company has identified potential risks related to international oil price fluctuations, which could impact project economics[108] Research and Development - The company has developed core software such as WEFOX, SinoGeoStar, and MAVORICK, and possesses advanced third-party software and large computing clusters to support complex geological tasks[43] - The company has filed five invention patents related to geothermal energy systems and underground planning, currently under substantive examination[44] - The company has completed the construction of the oil exploration technology research center and has begun to generate some revenue[79] Subsidiaries and Partnerships - The company established two new subsidiaries in 2018, expanding its operational footprint in Mongolia and Beijing[59] - The company has established a partnership with local governments to conduct geological surveys and coordinate exploration activities in Mongolia[29] - The company has established an AI joint research center with China University of Petroleum to enhance oil and gas exploration efficiency and safety through advanced technology[33]

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]