![<?echo $_SERVER['SERVER_NAME'];?>](/template/twentyseventeen/skin/images/header.jpg)
**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 confirm that the information disclosed is accurate, complete, and free from false records, misleading statements, or material omissions.
**Stock Code:** 000852
**Securities Abbreviation:** Jiang Diamond Shares
**Announcement No.:** 2013-029
**Title:** First Quarter Results of Jianghan Petroleum Drill Bit Co., Ltd.
The financial data provided in this announcement represents preliminary accounting figures for the first three quarters of 2013. These figures have not been audited by an independent accounting firm and may differ from the final numbers to be disclosed in the third-quarter report. Investors are advised to carefully consider potential investment risks.
**I. Major Financial Data and Key Indicators for the First Three Quarters of 2013**
[An image of the financial table is attached here.]
**II. Performance and Financial Condition Overview**
The company’s total profit and net income attributable to shareholders declined significantly compared to the same period last year. The primary reasons for this decline include:
1. A decrease in revenue from roller cone bits due to a downturn in the domestic market. This product line, which previously contributed significantly to overall revenue, now holds a smaller share of total operating income. While other petroleum machinery products saw increased sales, their lower gross profit margins impacted overall profitability.
2. Subsidiary Chengdejiang Diamond Oil Machinery Co., Ltd. experienced a sharp drop in gross profit margin due to intense market competition, reduced selling prices, and rising labor costs.
3. The chemical business continued to incur losses due to an unfavorable market environment, and it is expected that annual profits will fall sharply compared to the previous year.
4. Increased financial expenses were driven by exchange rate losses resulting from currency fluctuations and higher interest costs from expanded loan activity.
These factors are likely to continue affecting the company’s performance throughout 2013.
**III. Supporting Documents**
A comparative balance sheet and income statement, signed and sealed by the company's legal representative, chief accountant, and head of the accounting department, is available for reference.
**Jianghan Petroleum Drill Bit Co., Ltd.**
Board of Directors
October 22, 2013
Hollow Polycarboante Sheet,4Mm Polycarbonate Sheet,Amti Uv Pc Sheet 4Mm,Anti-Fog Polycarbonate Sheet
ZHENHAO BUILDING MATERIALS CO.,LTD , https://www.zhpvctile.com