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].

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]