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Jianghan Petroleum Drill Bit Co., Ltd. 2013 First Quarter Results Express
The company and all members of the board of directors guarantee the truthfulness, accuracy and completeness of the information disclosure, and there are no false records, misleading statements or major omissions.
Special Note: The financial data for the first three quarters of 2013 as set out in this announcement is only preliminary accounting data. It may not be audited by an accounting firm and may differ from the final data disclosed in the third quarterly report. Investors should pay attention to investment risks.
I. Major financial data and indicators for the first three quarters of 2013 
2. Description of business performance and financial status
The total profit of the company during the reporting period and the net profit attributable to shareholders of the listed company decreased significantly compared with the same period of the previous year. The main reasons are:
(1) Due to the decline in the domestic market of roller cone bits, the company's roller cone bit revenue decreased compared with the same period of the previous year. The revenue of roller cone bits accounted for a decrease in the proportion of total operating income of the company. At the same time, the income of other petroleum machinery products of the company increased compared with the same period of last year. However, the gross profit margin of the product was lower than that of the roller cone bit, which caused the company's net profit during the reporting period to not keep pace with the increase in operating income;
(2) The products of Chengdejiang Diamond Oil Machinery Co., Ltd., a subsidiary of the company, have caused a sharp drop in the gross profit margin of the products due to fierce market competition, lower sales prices of some products, and higher labor costs.
(3) The chemical market has not improved, resulting in the company's chemical products continuing to lose money. It is expected that the 2013 annual profit will drop significantly compared with last year;
(4) Due to exchange rate losses arising from exchange rate changes and the increase in interest expenses due to the expansion of the current loan scale, financial expenses have increased significantly from the previous period.
The above factors will also have an impact on the company's 2013 operating results.
Third, the documents for reference
A comparative balance sheet and income statement signed and sealed by the current legal representative of the company, the person in charge of accounting work, and the person in charge of the accounting department.
Board of Directors
October 22, 2013
Jiang Diamond shares: 2013 first quarter performance report
Abstract Stock Code: 000852 Securities Abbreviation: Jiang Diamond Co., Ltd. Announcement No.: 2013-029 Jianghan Petroleum Drill Co., Ltd. 2013 First Quarter Results Express The Company and all members of the Board of Directors guarantee the truthfulness, accuracy and completeness of the information disclosure. ..
Stock code: 000852 Securities abbreviation: Jiang Diamond shares announcement number: 2013-029
Jianghan Petroleum Drill Co., Ltd.