通源石油(300164) - 2021 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2021 was ¥184,677,114.70, a decrease of 12.99% compared to ¥212,259,348.79 in the same period last year[7] - Net profit attributable to shareholders was ¥6,333,080.25, representing a significant increase of 138.76% from a loss of ¥16,340,827.30 in the previous year[7] - The net profit after deducting non-recurring gains and losses was ¥4,097,494.81, up 124.97% from a loss of ¥16,406,752.47 in the same period last year[7] - The net cash flow from operating activities was ¥10,194,802.82, a substantial increase of 232.27% compared to a negative cash flow of ¥7,707,472.32 in the previous year[7] - Basic earnings per share were ¥0.0123, compared to a loss of ¥0.0332 per share in the same period last year, marking an increase of 137.05%[7] - The company reported a total comprehensive income of CNY 16,847,676.11 for the quarter, contrasting with a comprehensive loss of CNY 4,560,515.73 in the previous year[56] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,664,656,885.12, a decrease of 2.78% from ¥1,712,307,746.05 at the end of the previous year[7] - The company's current assets totaled CNY 708,852,522.60, down from CNY 759,331,841.97 at the end of 2020, indicating a decrease of about 6.6%[41] - Total liabilities decreased to CNY 694,322,230.49 from CNY 749,631,398.49, reflecting a decrease of about 7.4%[43] - The company's long-term borrowings increased slightly to CNY 194,294,120.00 from CNY 193,772,500.00, a marginal increase of about 0.3%[43] - The total equity remained stable at CNY 970,334,654.63 as of March 31, 2021, compared to CNY 962,676,347.56 at the end of 2020[43] Revenue Sources and Changes - The company reported non-recurring gains totaling ¥2,235,585.44, which included government subsidies and other income[8] - Other income increased by 256.62% compared to the previous year, primarily due to an increase in government subsidies received[20] - Investment income decreased by 72.84% year-on-year, as there were no distributions from the Shenzhen Dongzheng Tongyuan Overseas Oil Industry Investment Fund during the reporting period[20] - Cash received from other operating activities increased by 238.21% year-on-year, mainly due to higher government subsidies[22] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 24,261[10] - The top shareholder, Zhang Guoan, held 14.74% of the shares, with 60,041,952 shares pledged[10] Operational Insights - Domestic business revenue increased by 53.16% year-on-year, fully recovering to pre-pandemic levels[25] - The company has resumed normal operations in overseas markets, including Algeria, Iraq, and Kazakhstan, and secured new contracts for coiled tubing services in Algeria[26] - The company plans to focus on domestic unconventional oil and gas core product lines, halting investments in North American business to mitigate the impact of severe overseas pandemic conditions[29] - The company is enhancing its core competencies in perforation, rotary steering, and hydraulic fracturing technologies to strengthen its market position[31] Risk Management - Risks include the ongoing impact of COVID-19, fluctuations in oil prices, and intensified market competition, which the company plans to address through flexible strategies and enhanced R&D efforts[30][31] - The company is committed to improving management and operational planning to mitigate seasonal performance disparities between the first and second halves of the year[32] - The company is actively managing goodwill risks associated with its acquisitions to ensure the profitability of acquired entities[32] Cash Flow Management - The company's cash flow from operating activities was 10.19 million yuan, a year-on-year increase of 232.27%, indicating improved cash management[26] - The net cash flow from operating activities increased to ¥20,010,054.77 from a negative ¥38,188,172.29 in the previous period, marking a significant turnaround[62] - Cash inflow from operating activities totaled ¥52,278,896.58, compared to ¥27,695,643.67 in the prior period, reflecting an increase of approximately 88.5%[62] - The net cash flow from investment activities was ¥37,781,823.00, a recovery from a negative cash flow of ¥152,203,663.46 in the previous period[63] Financial Management - Financial expenses decreased by 183.16% year-on-year, attributed to changes in foreign exchange gains and losses[20] - The company incurred financial expenses of CNY -4,176,823.01, a decrease from CNY 6,313,174.36 in the previous year, indicating improved financial management[54]