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 Bit Co., Ltd. announces its first quarter results for 2013. The company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or material omissions. **Note:** The financial data provided in this announcement for the first three quarters of 2013 is preliminary and has not been audited. It may differ from the final figures included in the third-quarter report. Investors are advised to be cautious about potential investment risks. **I. Major Financial Data and Indicators for the First Three Quarters of 2013** [Image of financial data is available here.] **II. Performance and Financial Status Overview** The company's total profit and net profit attributable to shareholders declined significantly compared to the same period in the previous year. The main reasons include: 1. A drop in revenue from roller cone bits due to a declining domestic market. This product line accounted for a smaller portion of total revenue, while other petroleum machinery products saw an increase in sales. However, their lower gross margin contributed to a slower growth in net profit relative to operating income. 2. Subsidiary Chengdejiang Diamond Oil Machinery Co., Ltd. experienced a sharp decline in gross margin due to intense market competition, reduced selling prices on certain products, and increased labor costs. 3. The chemical business continued to operate at a loss due to an unimproved market environment. This is expected to result in a significant drop in annual profits compared to the previous year. 4. Increased financial expenses were driven by exchange rate losses and higher interest costs from the expansion of the company’s loan portfolio. These factors are anticipated to have a negative impact on the company’s overall performance in 2013. **III. Reference Documents** A comparative balance sheet and income statement, signed and sealed by the company’s legal representative, the person in charge of accounting, and the head of the finance department, is attached for reference. **Jianghan Petroleum Drill Bit Co., Ltd.** Board of Directors October 22, 2013 This report provides a comprehensive overview of the company's performance during the first three quarters of 2013, highlighting key challenges and areas of concern. Investors are encouraged to review the full disclosure and consider the long-term implications of these financial trends.

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