如通股份(603036) - 2025 Q2 - 季度财报

Definitions This section defines key terms used in the report, including company abbreviations, reporting period, subsidiary names, and industry standard API, ensuring clear understanding Definitions of Common Terms This section defines key terms used in the report, including company abbreviations, reporting period, subsidiary names, and industry standard API, ensuring clear understanding of the report content - Rutong Shares/Company: Refers to Jiangsu Rutong Petro-Machinery Co., Ltd[12] - Reporting Period: Refers to January to June 2025[12] - API: Refers to the quality certification system and technical standards provided by the American Petroleum Institute, including API monogram certification and technical standards for equipment, products, and services in the oil and gas industry[12] Company Profile and Key Financial Indicators This section provides the company's basic information, contact details, changes in fundamental situation, information disclosure, stock overview, and key financial data and indicators Company Information This section provides the company's basic identification information, including its Chinese name, abbreviation, foreign name and its abbreviation, and legal representative - Company Chinese Name: Jiangsu Rutong Petro-Machinery Co., Ltd, Abbreviation: Rutong Shares[9] - Company Foreign Name: Jiangsu Rutong Petro-Machinery Co.,Ltd, Abbreviation: RT[9] - Company Legal Representative: Zeng Zhibin[9] Contact Person and Contact Information This section lists the contact information for the company's Board Secretary and Securities Affairs Representative, including name, address, telephone, fax, and email - Board Secretary: Chen Xiaofeng, Contact Number: 0513-81907806, Email: rtgfdsh@rutong.com[10] Brief Introduction to Changes in Basic Information This section introduces the company's registered address, office address, and website, noting no historical changes during the reporting period - The company's registered and office address are both No. 33 Huaihe Road, New District, Rudong Economic Development Zone, Nantong City, Jiangsu Province[11] - Company Website: www.rutong.com[11](index=11&type=chunk) Brief Introduction to Changes in Information Disclosure and Document Storage Locations This section explains the company's designated newspapers and websites for information disclosure and the location for storing semi-annual reports, with no changes during the reporting period - The company's selected newspaper for information disclosure is "Shanghai Securities News"[13] - The website address for publishing semi-annual reports is the Shanghai Stock Exchange website (http://www.sse.com.cn/)[13](index=13&type=chunk) Overview of Company Shares This section provides the company's stock listing information, including stock type, listing exchange, stock abbreviation, and code - The company's stock type is A-shares, listed on the Shanghai Stock Exchange, with stock abbreviation "Rutong Shares" and stock code "603036"[14] Company's Key Accounting Data and Financial Indicators This section presents the company's key accounting data and financial indicators for the reporting period, including operating revenue, profit, cash flow, net assets, and earnings per share, along with non-recurring gains and losses Major Accounting Data (January-June 2025 vs. Same Period Last Year) | Major Accounting Data | Current Reporting Period (Jan-Jun) (Yuan) | Same Period Last Year (Yuan) | Change from Same Period Last Year (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 213,261,610.28 | 190,696,994.05 | 11.83 | | Total Profit | 68,239,757.83 | 52,886,058.83 | 29.03 | | Net Profit Attributable to Listed Company Shareholders | 57,691,977.90 | 44,502,429.15 | 29.64 | | Net Profit Attributable to Listed Company Shareholders After Deducting Non-recurring Gains and Losses | 48,644,689.66 | 38,050,922.81 | 27.84 | | Net Cash Flow from Operating Activities | 81,084,230.08 | 11,046,038.11 | 634.06 | | Net Assets Attributable to Listed Company Shareholders (Period-end) | 1,339,757,704.78 | 1,322,320,620.48 | 1.32 | | Total Assets (Period-end) | 1,510,848,280.69 | 1,515,905,264.38 | -0.33 | Major Financial Indicators (January-June 2025 vs. Same Period Last Year) | Major Financial Indicators | Current Reporting Period (Jan-Jun) | Same Period Last Year | Change from Same Period Last Year (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/share) | 0.28 | 0.22 | 27.27 | | Diluted Earnings Per Share (Yuan/share) | 0.28 | 0.22 | 27.27 | | Basic Earnings Per Share After Deducting Non-recurring Gains and Losses (Yuan/share) | 0.24 | 0.18 | 33.33 | | Weighted Average Return on Net Assets (%) | 4.25 | 3.44 | Increased by 0.81 percentage points | | Weighted Average Return on Net Assets After Deducting Non-recurring Gains and Losses (%) | 3.58 | 2.94 | Increased by 0.64 percentage points | - Total non-recurring gains and losses amounted to 9,047,288.24 Yuan, primarily including gains and losses from entrusted investment or asset management of 8,311,803.68 Yuan, fair value change gains and losses of 1,269,886.60 Yuan, and government subsidies of 949,471.40 Yuan[19] Management Discussion and Analysis This section provides an in-depth analysis of the company's industry, main business operations, financial performance, core competitiveness, and potential risks Industry and Main Business Operations During the Reporting Period The company's main business involves R&D, production, and sales of oil and gas drilling and workover wellhead equipment and tools, covering lifting, gripping, and make-up/break-out equipment, with rapidly growing rail transit products and a focus on direct sales and "production-to-order" models - The company's main business is the R&D, production, and sales of oil and gas drilling and workover wellhead equipment and tools, including lifting equipment, gripping equipment, and make-up/break-out equipment[22] - Rail transit products are in a development and support phase, with a small scale but rapid growth[22] - The company primarily adopts a "production-to-order" model, supplemented by appropriate stocking of conventional products, and outsources some non-critical processes[23] - Customers are increasing investment in automated and intelligent upgrade of operating equipment, leading to sufficient orders on hand; overseas market demand has fluctuated due to geopolitical influences but remains generally stable[23] Analysis of Operations During the reporting period, the company achieved continuous growth in operating revenue and enhanced market competitiveness by expanding sales, making breakthroughs in rail transit products, strengthening production capacity, continuously improving product quality, and accelerating product technology innovation - The company achieved continuous growth in operating revenue through new market and customer development, consolidation of market share, and aggressive promotion of new products[23][24] - New breakthroughs were made in the rail transit product sector, with strengthened aluminum brake disc production capacity and rapid year-on-year growth in deliveries during the first half of the year[24] - Continuous efforts were made to advance production organization capabilities, optimize process flows, improve operational efficiency, and cultivate supplier capabilities[24] - The company launched an initiative to "improve product quality and enhance the RT brand" by establishing special teams to identify and continuously rectify defects[25] - The pace of new product R&D was accelerated, focusing on cutting-edge trends in automated and intelligent drilling and workover equipment to build technology and product reserves for long-term development[25] Analysis of Core Competitiveness The company has established unique competitive advantages through excellent product quality, strong R&D capabilities, comprehensive supporting and supply chain organization, strong brand recognition, and robust financial strength, continuously solidifying its market position in the oil and gas drilling sector - The company holds API certification and has established a comprehensive quality management system from raw material procurement to after-sales traceability, ensuring reliable product performance and stable quality[26][27] - Recognized as a high-tech enterprise, the company boasts a high-caliber R&D team and is designated as a "Jiangsu Innovative Enterprise" and a national "Specialized, Refined, Unique, and New" small giant enterprise[27] - The company offers a full range of product specifications, provides customized services, possesses a complete industrial chain from blank production to final assembly, and responds quickly to customer needs[28] - The "Rutong" and "RT" brands are highly recognized by domestic and international customers, having established long-term stable cooperative relationships with major players like PetroChina, Sinopec, and CNOOC[28] - Through long-term stable operations, the company has accumulated substantial capital, providing a strong material foundation for future development[28] Major Operating Conditions During the Reporting Period This section analyzes changes in the company's financial statement items, asset and liability status, investment activities, and major controlled and investee companies during the reporting period, also identifying potential risks (I) Analysis of Main Business Operations The analysis of the company's main business operations shows significant growth in both operating revenue and total profit during the reporting period, with a substantial increase in net cash flow from operating activities, reflecting a healthy operational status Changes in Financial Statement Items (January-June 2025 vs. Same Period Last Year) | Item | Current Period Amount (Yuan) | Same Period Last Year Amount (Yuan) | Change Ratio (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 213,261,610.28 | 190,696,994.05 | 11.83 | | Operating Cost | 115,764,234.32 | 109,237,430.78 | 5.97 | | Selling Expenses | 9,989,544.79 | 9,832,171.46 | 1.60 | | Administrative Expenses | 16,295,386.91 | 12,716,191.94 | 28.15 | | Financial Expenses | -1,767,855.79 | -1,931,894.22 | 8.49 | | R&D Expenses | 9,675,775.61 | 9,340,529.83 | 3.59 | | Net Cash Flow from Operating Activities | 81,084,230.08 | 11,046,038.11 | 634.06 | | Net Cash Flow from Investing Activities | -189,174,319.98 | -263,913,298.69 | 28.32 | - Net cash flow from operating activities significantly increased by 634.06%, primarily due to increased cash collections[30] (III) Analysis of Assets and Liabilities At the end of the reporting period, the company's asset and liability structure changed, with a decrease in monetary funds, a significant increase in trading financial assets, a notable decrease in notes receivable, and an increase in taxes payable and special reserves Changes in Assets and Liabilities (Period-end vs. End of Last Year) | Item Name | Current Period-end Amount (Yuan) | Current Period-end % of Total Assets | Last Year-end Amount (Yuan) | Last Year-end % of Total Assets | Change from Last Year-end (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Monetary Funds | 303,525,749.85 | 20.09 | 468,332,190.10 | 30.89 | -35.19 | Due to increased wealth management purchases | | Trading Financial Assets | 477,275,391.02 | 31.59 | 285,744,074.08 | 18.85 | 67.03 | Due to increased wealth management | | Notes Receivable | 399,000.00 | 0.03 | 32,487,358.89 | 2.14 | -98.77 | Due to increased maturity of notes and decreased note collections | | Prepayments | 3,502,777.44 | 0.23 | 5,897,247.20 | 0.39 | -40.60 | Due to settlement of some prior prepayments | | Taxes Payable | 4,321,252.67 | 0.29 | 2,893,839.15 | 0.19 | 49.33 | Due to increased income tax payable | | Special Reserves | 2,807,932.59 | 0.19 | 1,861,621.19 | 0.12 | 50.83 | Due to decreased safety production expenses | (IV) Analysis of Investment Status The company's financial assets measured at fair value underwent significant changes during the reporting period, primarily reflecting the purchase and sale of other trading financial assets and the recognition of fair value change gains and losses Changes in Financial Assets Measured at Fair Value | Asset Category | Beginning Balance (Yuan) | Fair Value Change Gains/Losses for the Period (Yuan) | Amount Purchased During the Period (Yuan) | Amount Sold/Redeemed During the Period (Yuan) | Ending Balance (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Other | 313,744,074.08 | 1,269,886.60 | 555,005,504.42 | 364,744,074.08 | 505,275,391.02 | | Total | 313,744,074.08 | 1,269,886.60 | 555,005,504.42 | 364,744,074.08 | 505,275,391.02 | (VI) Analysis of Major Controlled and Investee Companies The company's major controlled and investee companies operate in areas such as cast steel production, sales and services of oil drilling and workover tools, and manufacturing of rail transit brake discs, with Rutong Tianjin having completed capital reduction to 10 million Yuan - Rutong Casting Company primarily engages in the production and sales of cast steel parts, with a net profit of 523,196.72 Yuan at the end of the reporting period[37] - Northern Rail Transit Company primarily engages in the R&D, manufacturing, and sales of rail transit brake discs, with a net profit of 4,477,744.27 Yuan at the end of the reporting period[37] - Rutong Tianjin Company completed capital reduction procedures on August 4, 2025, reducing its registered capital to 10 million Yuan[38] (I) Potential Risks The company faces multiple risks including international geopolitical and economic environment, fluctuations in international oil and gas prices, exchange rate volatility, and product development failures, which may introduce uncertainty to its operating performance and market demand - Tensions in the international situation and a slowdown in the global economy may suppress energy demand and investment, negatively impacting long-term oil and gas demand[38] - While international oil and gas price fluctuations do not directly affect product prices, a long-term rise would drive industry demand, whereas a decline would be unfavorable[38] - The company's export products are settled in US dollars, so exchange rate fluctuations may affect operating results and profits[38] - Product development carries technical risks, with increasing costs for intelligent and deep/ultra-deep well products, and failure to meet expectations could result in losses of prior investments[39] Corporate Governance, Environment, and Society This section details the company's corporate governance, including changes in directors, supervisors, and senior management, profit distribution plans, equity incentive schemes, environmental information disclosure, and contributions to poverty alleviation and rural revitalization Changes in Directors, Supervisors, and Senior Management During the reporting period, there were no changes in the company's directors, supervisors, or senior management - The company's directors, supervisors, and senior management did not change during the reporting period, indicated as "Not Applicable"[41] Profit Distribution or Capital Reserve Conversion Plan The company did not propose a profit distribution plan or capital reserve conversion plan for the semi-annual period - The proposed profit distribution plan or capital reserve conversion plan for the semi-annual period is "None"[41] Equity Incentive Plans and Employee Stock Ownership Plans The company had no disclosure or subsequent progress regarding equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - The company's equity incentive plans, employee stock ownership plans, or other employee incentive measures are "Not Applicable"[43] Environmental Information Disclosure The company is not included in the list of enterprises required by law to disclose environmental information, hence no such disclosure is provided - The company is not included in the list of enterprises required by law to disclose environmental information, and the relevant situation is "Not Applicable"[43] Poverty Alleviation and Rural Revitalization The company has no specific information to disclose regarding its efforts in consolidating poverty alleviation achievements and promoting rural revitalization during the reporting period - The company's specific efforts in consolidating poverty alleviation achievements and promoting rural revitalization are "Not Applicable"[43] Significant Matters This section covers significant matters including the fulfillment of commitments, non-operating fund occupation by controlling shareholders and related parties, illegal guarantees, audit status, bankruptcy reorganization, major lawsuits, violations, integrity statements, major related party transactions, and other important disclosures Fulfillment of Commitments The company's actual controller, shareholders, related parties, and the company itself strictly fulfilled various commitments during the reporting period, including not relocating the registered address, share restrictions for directors, supervisors, and senior management, non-compete clauses, and repurchase/compensation commitments for false statements in the prospectus - The company's largest shareholder, Jiangxi Hanyi Technology Co., Ltd., committed not to initiate or support proposals to relocate the listed company's registered address within five years after the fourth board of directors and supervisory board re-election, and has strictly fulfilled this commitment[45] - The company's directors, senior management, and supervisors committed not to transfer more than 25% of their shares in the company annually during their tenure, and not to transfer any shares within 6 months after leaving office, and no more than 50% within 6-12 months after leaving, and have strictly fulfilled this commitment[45] - Several key management personnel committed not to directly or indirectly engage in any business competing with the company during their shareholding and tenure, and have strictly fulfilled this commitment[46] - The company and its major shareholders, directors, supervisors, and senior management committed to repurchasing shares or compensating investors for losses if the prospectus contained false statements, and have strictly fulfilled this commitment[46] Non-operating Fund Occupation by Controlling Shareholders and Related Parties During the reporting period, the company was not subject to non-operating fund occupation by controlling shareholders or other related parties - The company was not subject to non-operating fund occupation by controlling shareholders or other related parties, indicated as "No"[47] Illegal Guarantees During the reporting period, the company did not provide external guarantees in violation of prescribed decision-making procedures - The company did not provide external guarantees in violation of prescribed decision-making procedures, indicated as "No"[47] Semi-Annual Report Audit Status This semi-annual report has not been audited - This semi-annual report has not been audited[3] Changes and Handling of Non-Standard Audit Opinions in Last Year's Annual Report There were no changes or handling of matters related to non-standard audit opinions in the company's last year's annual report - The changes and handling of matters related to non-standard audit opinions in the company's last year's annual report are "Not Applicable"[48] Bankruptcy Reorganization Matters During the reporting period, the company had no bankruptcy reorganization related matters - The company's bankruptcy reorganization related matters are "Not Applicable"[48] Major Lawsuits and Arbitrations During the reporting period, the company had no major lawsuits or arbitrations - The company had no major lawsuits or arbitrations during this reporting period[48] Violations, Penalties, and Rectification During the reporting period, neither the company nor its directors, supervisors, senior management, controlling shareholders, or actual controllers were involved in suspected violations, penalties, or rectification situations - The company and its directors, supervisors, senior management, controlling shareholders, and actual controllers were not involved in suspected violations, penalties, or rectification situations, indicated as "Not Applicable"[48] Statement on Integrity Status During the reporting period, the company had no statement regarding the integrity status of itself, its controlling shareholders, or actual controllers - The statement on the integrity status of the company and its controlling shareholders and actual controllers is "Not Applicable"[48] Major Related Party Transactions During the reporting period, the company had no major related party transactions, including those related to daily operations, asset acquisition/disposal, joint external investments, or related party creditor-debtor relationships - The company had no related party transactions related to daily operations, asset acquisition or equity acquisition/disposal, major related party transactions involving joint external investments, or related party creditor-debtor relationships[48][49][50] Major Contracts and Their Fulfillment During the reporting period, the company had no entrustment, contracting, or leasing matters, no major guarantees, and no other major contracts - The company had no entrustment, contracting, or leasing matters[50] - During the reporting period, the company had no major guarantees that were being performed or had not yet been fully performed[51] - The company had no other major contracts[52] Progress of Raised Funds Utilization The company had no statement regarding the progress of raised funds utilization during the reporting period - The company's statement on the progress of raised funds utilization is "Not Applicable"[52] Explanation of Other Significant Matters The company had no other significant matters requiring explanation during the reporting period - The company's explanation of other significant matters is "Not Applicable"[52] Share Changes and Shareholder Information This section details changes in the company's share capital, shareholder structure, shareholdings of directors, supervisors, and senior management, and any changes in controlling shareholders or actual controllers Share Capital Changes During the reporting period, there were no changes in the company's total share capital or share structure, nor any changes in restricted shares - During the reporting period, there were no changes in the company's total share capital or share structure[53] - The company has no explanation of share changes, nor any impact of share changes on financial indicators such as earnings per share or net assets per share from the end of the reporting period to the disclosure date of the semi-annual report[54] - The company has no other content required for disclosure by necessary or securities regulatory authorities[54] Shareholder Information As of the end of the reporting period, the company had 12,683 common shareholders, with Jiangxi Hanyi Technology Co., Ltd. being the largest shareholder, holding 11.52% of shares, some of which are pledged - As of the end of the reporting period, the total number of common shareholders was 12,683[54] Top Ten Shareholders' Shareholdings (Excluding Shares Lent Through Securities Lending) | Shareholder Name | Ending Shareholding Quantity (shares) | Percentage (%) | Pledged, Marked, or Frozen Status (Quantity) | | :--- | :--- | :--- | :--- | | Jiangxi Hanyi Technology Co., Ltd. | 23,731,338 | 11.52 | Pledged 5,300,000 | | Cao Caihong | 22,552,314 | 10.95 | None 0 | | Xu Bobing | 7,867,800 | 3.82 | None 0 | | Zhang Youfu | 3,720,000 | 1.81 | None 0 | | Shi Jianxin | 3,667,700 | 1.78 | None 0 | | Bao Yinliang | 3,000,000 | 1.46 | None 0 | | Shi Xiufei | 2,920,000 | 1.42 | None 0 | | Zhu Jianhua | 2,916,000 | 1.42 | None 0 | | Yao Zhong | 2,163,040 | 1.05 | None 0 | | Wang Jing | 1,719,200 | 0.83 | None 0 | Changes in Shareholdings of Directors, Supervisors, and Senior Management During the reporting period, the company's Chief Financial Officer, Zhen Guoyi, reduced his shareholding due to personal financial needs Changes in Shareholdings of Directors, Supervisors, and Senior Management | Name | Position | Beginning Shareholding (shares) | Ending Shareholding (shares) | Change in Shareholding During Reporting Period (shares) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Zhen Guoyi | Chief Financial Officer | 107,900 | 81,900 | 26,000 | Personal financial needs | Changes in Controlling Shareholder or Actual Controller During the reporting period, there were no changes in the company's controlling shareholder or actual controller - The company's controlling shareholder or actual controller change status is "Not Applicable"[59] Preferred Shares Information The company has no preferred shares information - The company's preferred shares information is "Not Applicable"[60] Bond-Related Information This section provides information on the company's bonds, including corporate bonds, enterprise bonds, non-financial enterprise debt financing instruments, and convertible corporate bonds Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments The company has no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - The company's corporate bonds (including enterprise bonds) and non-financial enterprise debt financing instruments status is "Not Applicable"[62] Convertible Corporate Bonds The company has no convertible corporate bonds - The company's convertible corporate bonds status is "Not Applicable"[62] Financial Report This section encompasses the audit report, comprehensive financial statements, company's basic information, basis of financial statement preparation, significant accounting policies and estimates, taxation, notes to consolidated financial statements, R&D expenses, changes in consolidation scope, equity in other entities, government grants, financial instrument risks, fair value disclosures, related parties and transactions, share-based payments, commitments and contingencies, post-balance sheet events, other significant matters, notes to parent company financial statements, and supplementary information Audit Report This semi-annual report has not been audited - This semi-annual report has not been audited[3] Financial Statements This section includes the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the company's financial position, operating results, and cash flow Consolidated Balance Sheet As of June 30, 2025, the company's consolidated total assets slightly decreased, total liabilities decreased, and owners' equity increased, reflecting a stable financial structure Consolidated Balance Sheet Key Data (June 30, 2025 vs. December 31, 2024) | Item | June 30, 2025 (Yuan) | December 31, 2024 (Yuan) | | :--- | :--- | :--- | | Monetary Funds | 303,525,749.85 | 468,332,190.10 | | Trading Financial Assets | 477,275,391.02 | 285,744,074.08 | | Notes Receivable | 399,000.00 | 32,487,358.89 | | Inventories | 257,516,889.98 | 265,551,794.77 | | Fixed Assets | 100,867,921.66 | 102,453,692.36 | | Total Assets | 1,510,848,280.69 | 1,515,905,264.38 | | Notes Payable | 21,586,500.00 | 29,200,000.00 | | Total Liabilities | 160,111,652.65 | 183,837,100.31 | | Total Owners' Equity Attributable to Parent Company | 1,339,757,704.78 | 1,322,320,620.48 | | Total Owners' Equity | 1,350,736,628.04 | 1,332,068,164.07 | Parent Company Balance Sheet As of June 30, 2025, the parent company's total assets and total liabilities both increased, with a corresponding increase in owners' equity, reflecting an expansion in the parent company's business scale Parent Company Balance Sheet Key Data (June 30, 2025 vs. December 31, 2024) | Item | June 30, 2025 (Yuan) | December 31, 2024 (Yuan) | | :--- | :--- | :--- | | Monetary Funds | 269,432,998.48 | 412,350,181.85 | | Trading Financial Assets | 477,275,391.02 | 285,744,074.08 | | Notes Receivable | 399,000.00 | 26,801,607.02 | | Inventories | 226,086,693.28 | 231,561,281.17 | | Long-term Equity Investments | 267,275,187.09 | 267,266,325.89 | | Total Assets | 1,655,285,947.88 | 1,629,467,341.21 | | Notes Payable | 61,090,000.00 | 29,200,000.00 | | Total Liabilities | 312,716,805.80 | 301,332,072.29 | | Total Owners' Equity | 1,342,569,142.08 | 1,328,135,268.92 | Consolidated Income Statement In the first half of 2025, the company's consolidated total operating revenue and total profit both increased year-on-year, with significant improvements in net profit attributable to parent company shareholders and basic earnings per share Consolidated Income Statement Key Data (January-June 2025 vs. January-June 2024) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 213,261,610.28 | 190,696,994.05 | | Total Operating Cost | 152,537,029.90 | 141,966,792.20 | | Total Profit | 68,239,757.83 | 52,886,058.83 | | Net Profit | 58,923,357.57 | 44,748,948.67 | | Net Profit Attributable to Parent Company Shareholders | 57,691,977.90 | 44,502,429.15 | | Basic Earnings Per Share (Yuan/share) | 0.28 | 0.22 | | Diluted Earnings Per Share (Yuan/share) | 0.28 | 0.22 | Parent Company Income Statement In the first half of 2025, the parent company's operating revenue and net profit both increased, reflecting strong performance in its core business Parent Company Income Statement Key Data (January-June 2025 vs. January-June 2024) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Operating Revenue | 197,247,066.87 | 179,751,791.23 | | Operating Cost | 108,961,401.99 | 107,450,750.83 | | Total Profit | 64,155,144.26 | 48,518,127.28 | | Net Profit | 54,911,343.46 | 41,174,427.33 | | Basic Earnings Per Share (Yuan/share) | 0.27 | 0.20 | | Diluted Earnings Per Share (Yuan/share) | 0.27 | 0.20 | Consolidated Cash Flow Statement In the first half of 2025, the company's net cash flow from operating activities significantly increased, net cash outflow from investing activities decreased, and cash outflow from financing activities remained stable Consolidated Cash Flow Statement Key Data (January-June 2025 vs. January-June 2024) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Subtotal of Cash Inflows from Operating Activities | 270,576,891.04 | 221,317,497.56 | | Subtotal of Cash Outflows from Operating Activities | 189,492,660.96 | 210,271,459.45 | | Net Cash Flow from Operating Activities | 81,084,230.08 | 11,046,038.11 | | Net Cash Flow from Investing Activities | -189,174,319.98 | -263,913,298.69 | | Net Cash Flow from Financing Activities | -41,201,205.00 | -41,201,205.00 | | Net Increase in Cash and Cash Equivalents | -148,636,940.25 | -293,447,515.01 | | Ending Balance of Cash and Cash Equivalents | 290,495,249.85 | 138,054,332.65 | Parent Company Cash Flow Statement In the first half of 2025, the parent company's net cash flow from operating activities significantly increased, net cash outflow from investing activities narrowed, and cash outflow from financing activities remained stable Parent Company Cash Flow Statement Key Data (January-June 2025 vs. January-June 2024) | Item | H1 2025 (Yuan) | H1 2024 (Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | 102,416,708.36 | 15,146,877.16 | | Net Cash Flow from Investing Activities | -188,617,541.38 | -242,379,475.37 | | Net Cash Flow from Financing Activities | -41,201,205.00 | -41,201,205.00 | | Net Increase in Cash and Cash Equivalents | -126,747,683.37 | -267,812,852.64 | | Ending Balance of Cash and Cash Equivalents | 256,402,498.48 | 121,125,858.61 | Consolidated Statement of Changes in Owners' Equity In the first half of 2025, the company's consolidated total owners' equity increased, primarily due to the contribution of comprehensive income, while also undertaking profit distribution Consolidated Statement of Changes in Owners' Equity Key Data (H1 2025) | Item | Beginning Balance (Yuan) | Amount of Change During the Period (Yuan) | Ending Balance (Yuan) | | :--- | :--- | :--- | :--- | | Paid-in Capital (or Share Capital) | 206,006,025.00 | 0 | 206,006,025.00 | | Capital Reserve | 439,381,315.90 | 0 | 439,381,315.90 | | Special Reserves | 1,861,621.19 | 946,311.40 | 2,807,932.59 | | Surplus Reserve | 93,326,840.82 | 0 | 93,326,840.82 | | Undistributed Profits | 581,744,817.57 | 16,490,772.90 | 598,235,590.47 | | Total Owners' Equity Attributable to Parent Company | 1,322,320,620.48 | 17,437,084.30 | 1,339,757,704.78 | | Minority Interests | 9,747,543.59 | 1,231,379.67 | 10,978,923.26 | | Total Owners' Equity | 1,332,068,164.07 | 18,668,463.97 | 1,350,736,628.04 | - Total comprehensive income for the current period was 58,923,357.57 Yuan, of which 57,691,977.90 Yuan was attributable to owners of the parent company[85] - The amount distributed to owners (or shareholders) in the current period was 41,201,205.00 Yuan[86] Parent Company Statement of Changes in Owners' Equity In the first half of 2025, the parent company's total owners' equity increased, primarily influenced by net profit contributions and profit distribution Parent Company Statement of Changes in Owners' Equity Key Data (H1 2025) | Item | Beginning Balance (Yuan) | Amount of Change During the Period (Yuan) | Ending Balance (Yuan) | | :--- | :--- | :--- | :--- | | Paid-in Capital (or Share Capital) | 206,006,025.00 | 0 | 206,006,025.00 | | Capital Reserve | 433,471,159.73 | 0 | 433,471,159.73 | | Special Reserves | 1,464,825.82 | 723,734.70 | 2,188,560.52 | | Surplus Reserve | 93,326,840.82 | 0 | 93,326,840.82 | | Undistributed Profits | 593,866,417.55 | 13,710,138.46 | 607,576,556.01 | | Total Owners' Equity | 1,328,135,268.92 | 14,433,873.16 | 1,342,569,142.08 | - Total comprehensive income for the current period was 54,911,343.46 Yuan[92] - The amount distributed to owners (or shareholders) in the current period was 41,201,205.00 Yuan[92] Company's Basic Information Jiangsu Rutong Petro-Machinery Co., Ltd., formerly Jiangsu Rudong General Machinery Co., Ltd., was listed on the Shanghai Stock Exchange on December 9, 2016, primarily engaging in the R&D, production, and sales of petroleum machinery equipment, tools, and accessories, with a registered capital of 206,006,025.00 Yuan - The company's shares were listed on the Shanghai Stock Exchange on December 9, 2016[94] - The company belongs to the special equipment manufacturing industry for petroleum drilling and extraction, primarily engaging in the R&D, production, and sales of petroleum machinery equipment, tools, and accessories, including lifting equipment, gripping equipment, and make-up/break-out equipment[94] - The company's registered capital is 206,006,025.00 Yuan, with a total of 206,006,025 shares[94] Basis of Financial Statement Preparation The company's financial statements are prepared on a going concern basis, and there are no matters or circumstances that raise significant doubts about its ability to continue as a going concern for the 12 months from the end of the reporting period - The company's financial statements are prepared on a going concern basis[96] - There are no matters or circumstances that raise significant doubts about the company's ability to continue as a going concern for the 12 months from the end of the reporting period[97] Significant Accounting Policies and Accounting Estimates The company has formulated specific accounting policies and estimates for financial instrument impairment, inventories, fixed asset depreciation, intangible assets, and revenue recognition based on its operational characteristics, adhering to enterprise accounting standards to accurately reflect financial information, with no impact from new accounting interpretations - The company has formulated specific accounting policies and estimates for transactions and events such as financial instrument impairment, inventories, fixed asset depreciation, construction in progress, intangible assets, and revenue recognition based on its actual production and operational characteristics[98] - The financial statements prepared by the company comply with the requirements of enterprise accounting standards, accurately and completely reflecting the company's financial position, operating results, changes in shareholders' equity, and cash flows[99] - The company's accounting year runs from January 1 to December 31 of the Gregorian calendar, with a short operating cycle, and uses 12 months as the liquidity classification standard for assets and liabilities[100][101] - The company has implemented "Interpretation No. 17 of Enterprise Accounting Standards" and "Interpretation No. 18 of Enterprise Accounting Standards" issued by the Ministry of Finance since January 1, 2024, but these accounting policy changes have no impact on the company's financial statements[171] Taxation The company's main taxes include VAT, urban maintenance and construction tax, corporate income tax, property tax, education surcharge, and local education surcharge, benefiting from a 15% corporate income tax rate as a high-tech enterprise and 20% for some subsidiaries as small low-profit enterprises, along with "six taxes and two fees" reductions Major Tax Categories and Rates | Tax Category | Tax Rate | | :--- | :--- | | Value-Added Tax | 13%, Export tax rebate rate 13% | | Urban Maintenance and Construction Tax | 5% | | Corporate Income Tax | 15%, 20%, 25% | | Property Tax | 1.2%, 12% | | Education Surcharge | 3% | | Local Education Surcharge | 2% | - The company is recognized as a high-tech enterprise, with the recognition period from 2023 to 2025, and pays corporate income tax at a 15% rate[175] - Rutong Casting Company, Xinjiang Rutong Technology Company, Haitong Testing Company, and Rutong Tianjin Company qualify as small low-profit enterprises, enjoying a 20% corporate income tax preferential rate and "six taxes and two fees" reduction policies[175][176] Notes to Consolidated Financial Statement Items This section provides detailed notes on various asset, liability, and owners' equity items in the consolidated financial statements, explaining changes in period-end balances compared to period-beginning balances, and disclosing specific information on restricted assets, bad debt provisions, and inventory impairment provisions - Other monetary funds at period-end include 13,030,500.00 Yuan as bill margin, which is restricted funds[179] - Trading financial assets at period-end amounted to 477,275,391.02 Yuan, primarily wealth management products[181] - Notes receivable at period-end amounted to 399,000.00 Yuan, a significant decrease of 98.77% from the beginning of the period[182] - Accounts receivable at period-end had a book balance of 316,524,623.74 Yuan, with a bad debt provision of 34,162,716.71 Yuan[186] - Inventories at period-end had a book balance of 275,972,785.21 Yuan, with inventory impairment provisions and contract performance cost impairment provisions totaling 18,455,895.23 Yuan, an increase of 3,561,226.62 Yuan in the current period[205][206] - Fixed assets at period-end had a book value of 100,867,921.66 Yuan, including 63,911,859.65 Yuan for buildings and structures[215] - Intangible assets at period-end had a book value of 29,768,364.17 Yuan, primarily including land use rights of 26,160,519.65 Yuan[226] - Deferred income tax assets at period-end amounted to 7,317,443.28 Yuan, and deferred income tax liabilities amounted to 190,482.99 Yuan[233] - Employee compensation payable at period-end amounted to 13,861,471.23 Yuan, a decrease of 17.01% from the beginning of the period[245] - Taxes payable at period-end amounted to 4,321,252.67 Yuan, an increase of 49.33% from the beginning of the period, mainly due to increased income tax payable[251] R&D Expenses The company's total R&D expenses for the reporting period were 9,675,775.61 Yuan, all expensed and recognized in current profit or loss, primarily comprising direct materials, employee compensation, and depreciation and amortization of intangible assets R&D Expense Composition (January-June 2025 vs. January-June 2024) | Item | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Direct Materials | 5,631,613.17 | 5,436,489.33 | | Employee Compensation | 2,655,303.08 | 2,563,302.28 | | Depreciation and Amortization of Intangible Assets | 1,240,140.82 | 1,197,172.48 | | Other | 148,718.53 | 143,565.74 | | Total | 9,675,775.61 | 9,340,529.83 | | Of which: Expensed R&D | 9,675,775.61 | 9,340,529.83 | | Capitalized R&D | 0 | 0 | Changes in Consolidation Scope During the reporting period, there were no changes in the company's consolidation scope, with no non-same-control business combinations, same-control business combinations, reverse acquisitions, or disposal of subsidiaries - The company had no non-same-control business combinations, same-control business combinations, reverse acquisitions, or disposal of subsidiaries resulting in changes in the consolidation scope[298][299] Equity in Other Entities The company owns seven subsidiaries engaged in manufacturing and professional technical services, with Rutong Tianjin having completed capital reduction; additionally, the company holds equity in the associate Guangzhou Yaqingda Intelligent System Co., Ltd Composition of Enterprise Group | Subsidiary Name | Main Operating Location | Registered Capital | Business Nature | Shareholding Ratio (%) | | :--- | :--- | :--- | :--- | :--- | | Rutong Casting Company | Rudong, Jiangsu | 6.8 million Yuan | Manufacturing | 100.00 | | Nantong Huitong Company | Rudong, Jiangsu | 20 million Yuan | Manufacturing | 100.00 | | Xinjiang Rutong Technology Company | Aksu, Xinjiang | 10.8 million Yuan | Manufacturing | 100.00 | | Northern Rail Transit Company | Rudong, Jiangsu | 50 million Yuan | Manufacturing | 72.50 | | Haitong Testing Company | Rudong, Jiangsu | 0.5 million Yuan | Professional Technical Services | 100.00 | | Rutong Tianjin Company | Tianjin | 120 million Yuan | Technology Promotion and Application Services | 100.00 | | Singapore Rutong Company | Singapore | 21.5 million Singapore Dollars | Services | 100.00 | - Rutong Tianjin Company completed capital reduction procedures on August 4, 2025, reducing its registered capital to 10 million Yuan[300] - The total book value of investment in the associate Guangzhou Yaqingda Intelligent System Co., Ltd. was 5,738,843.22 Yuan, with a net profit of 8,861.20 Yuan recognized in the current period[304] Government Grants The company received total government grants of 1,993,537.52 Yuan during the reporting period, comprising 1,044,066.12 Yuan related to assets and 949,471.40 Yuan related to income Liability Items Involving Government Grants | Financial Statement Item | Beginning Balance (Yuan) | Transferred to Other Income in Current Period (Yuan) | Ending Balance (Yuan) | Related to Assets/Income | | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 12,314,206.95 | 1,044,066.12 | 11,270,140.83 | Related to Assets | Government Grants Included in Current Profit or Loss | Type | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | | :--- | :--- | :--- | | Related to Income | 1,993,537.52 | 2,938,347.48 | | Total | 1,993,537.52 | 2,938,347.48 | Risks Related to Financial Instruments The company manages financial instrument risks by balancing risk and return, primarily focusing on credit risk, liquidity risk, and market risk, controlling risks to an acceptable level through credit assessment, diversified financing, and foreign exchange hedging - The company's risk management objective is to achieve a balance between risk and return, minimizing the negative impact of risks on operating performance and maximizing shareholder interests[309] - Credit risk is managed by depositing monetary funds in financial institutions with high credit ratings and continuously assessing customer credit[311] - Liquidity risk is controlled by comprehensively utilizing various financing methods such as bill settlement and bank loans, and adopting an appropriate combination of long-term and short-term financing[312] - Market risk primarily includes interest rate risk and foreign exchange risk, managed by regularly reviewing and monitoring an appropriate portfolio of financial instruments and buying/selling foreign currencies when necessary to hedge exchange rate fluctuations[314][315][316] Fair Value Disclosure The company disclosed the fair value of assets and liabilities measured at fair value at period-end, with trading financial assets (primarily wealth management products) measured using Level 2 fair value and other equity instrument investments measured using Level 3 fair value Fair Value of Assets and Liabilities Measured at Fair Value at Period-end | Item | Period-end Fair Value (Yuan) | | :--- | :--- | | I. Recurring Fair Value Measurements | | | (I) Trading Financial Assets | 477,275,391.02 | | 1. Financial assets measured at fair value through profit or loss | 477,275,391.02 | | (4) Wealth management products | 477,275,391.02 | | (III) Other Equity Instrument Investments | 28,000,000.00 | | Total Assets Measured at Recurring Fair Value | 505,275,391.02 | - Wealth management products are recognized at their net value for fair value, belonging to Level 2 fair value measurement[319] - Other equity instrument investments are measured at their period-end cost as the best estimate of fair value, belonging to Level 3 fair value measurement[320] Related Parties and Related Party Transactions During the reporting period, the company had no major related party transactions such as purchase/sale of goods, provision/acceptance of services, entrusted management/contracting and entrusted management/outsourcing, related party leasing, related party guarantees, related party fund borrowing, or related party asset transfer/debt restructuring, only disclosing key management personnel compensation Key Management Personnel Compensation | Item | Current Period Amount (10,000 Yuan) | Prior Period Amount (10,000 Yuan) | | :--- | :--- | :--- | | Key Management Personnel Compensation | 280.65 | 183.45 | - There were no related party transactions involving purchase/sale of goods or provision/acceptance of services during the reporting period[321] - There were no related party entrusted management/contracting and entrusted management/outsourcing situations during the reporting period[322] - There were no related party leasing situations during the reporting period[323] - There were no related party guarantee situations during the reporting period[324] - There were no related party fund borrowing, related party asset transfer, or debt restructuring situations during the reporting period[324] Share-Based Payments The company had no share-based payment related information during the reporting period - The company had no details of equity instruments, outstanding stock options or other equity instruments at period-end, equity-settled share-based payment information, cash-settled share-based payment information, share-based payment expenses for the current period, or modifications/terminations of share-based payments[326] Commitments and Contingencies At the end of the reporting period, the company had no significant commitments or contingencies requiring disclosure - The company had no significant commitments requiring disclosure[327] - The company had no significant contingencies requiring disclosure[327] Post-Balance Sheet Events The company had no important non-adjusting events, profit distribution information, sales returns, or other post-balance sheet events during the reporting period - The company had no important non-adjusting events, profit distribution information, sales returns, or other post-balance sheet events[327] Other Significant Matters The company had no other significant matters such as prior period accounting error corrections, major debt restructuring, asset swaps, annuity plans, or discontinued operations during the reporting period, and no reportable segments due to the absence of diverse operations - The company had no prior period accounting error corrections, major debt restructuring, asset swaps, annuity plans, discontinued operations, or other significant matters[327] - The company does not have diverse operations, hence there are no reportable segments[328] Notes to Parent Company Financial Statement Major Items This section provides detailed notes on major items in the parent company's financial statements, including accounts receivable, other receivables, and long-term equity investments, covering aging disclosure, bad debt provision, and investments in subsidiaries and associates - The parent company's accounts receivable at period-end had a book balance of 307,062,805.63 Yuan, with a bad debt provision of 32,535,947.12 Yuan[331] - The parent company's other receivables at period-end had a book balance of 7,315,269.92 Yuan, with a bad debt provision of 1,539,993.62 Yuan[339][342] - The parent company's long-term equity investments at period-end had a book value of 267,275,187.09 Yuan, including investments in subsidiaries of 261,536,343.87 Yuan and investments in associates of 5,738,843.22 Yuan[350] - The parent company's operating revenue and operating costs both increased year-on-year, with revenue recognized at a point in time amounting to 197,247,066.87 Yuan[354][355] Supplementary Information This section provides supplementary financial information, including a detailed statement of non-recurring gains and losses, net asset return, and earnings per share, further refining the company's financial performance Current Period Non-Recurring Gains and Losses Detail Statement | Item | Amount (Yuan) | | :--- | :--- | | Gains/losses from disposal of non-current assets | 240,841.26 | | Government grants included in current profit or loss | 949,471.40 | | Gains/losses from changes in fair value and disposal of financial assets and liabilities | 1,269,886.60 | | Gains/losses from entrusted investment or asset management | 8,311,803.68 | | Other non-operating income and expenses | -123,070.09 | | Less: Income tax impact | 1,601,644.35 | | Minority interests impact (after tax) | 0.26 | | Total | 9,047,288.24 | Net Asset Return and Earnings Per Share | Item | Return Rate (%) | Basic Earnings Per Share | Diluted Earnings Per Share | | :--- | :--- | :--- | :--- | | Net profit attributable to common shareholders of the company | 4.25 | 0.28 | 0.28 | | Net profit attributable to common shareholders of the company after deducting non-recurring gains and losses | 3.58 | 0.24 | 0.24 |