Financial Performance - Hilong achieved a total revenue of RMB 3,736 million in 2022, a 28.1% increase compared to RMB 2,917 million in 2021[13, 20] - The company's net profit increased significantly by 204.2% from RMB 48 million in 2021 to RMB 146 million in 2022[20] - Gross profit increased by 18.8% from RMB 898 million in 2021 to RMB 1,067 million in 2022, while the gross profit margin slightly declined from 30.8% to 28.6%[20, 46] Segment Revenue - Oilfield Equipment Manufacturing and Services generated RMB 2,210 million in revenue[24] - Drill pipes and other products within this segment reported substantial revenue increase due to increased market demand[17, 25] - Oilfield Services achieved stable growth with a segment revenue of RMB 1,057 million[29] - Line Pipe Technology and Services reported a segment revenue of RMB 355 million, a slight decline compared to the previous year[34, 35] - Offshore Engineering Services experienced a decline in segment revenue, reaching RMB 114 million[39] Regional Revenue - China accounted for 29.3% of the company's revenue in 2022[43] - The Middle East contributed 25.5% to the total revenue[43] - North & South America accounted for 16.2% of the revenue[43] Costs and Capital Structure - Total cost increased from RMB 2,019 million in 2021 to RMB 2,669 million in 2022, with raw materials constituting 58% of the total cost[49, 51, 52] - Cash and cash equivalents increased from RMB 629 million to RMB 778 million[54] - The gearing ratio (Net Debt/Total Capital) decreased from 44% to 40%[55]