Sichuan Etrol Technologies Co.Ltd(300370) : summary of 2021 Annual Report

Securities code: Sichuan Etrol Technologies Co.Ltd(300370) securities abbreviation: security control technology Announcement No.: 2022029 Sichuan Etrol Technologies Co.Ltd(300370) 2021 annual report summary

1、 Important tips

The summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC.

All directors have attended the meeting of the board of directors to consider this report

The audit opinion of Beijing Xinghua Certified Public Accountants (special general partnership) on the company’s financial report this year is: qualified opinion.

Tips on non-standard audit opinions

√ applicable □ not applicable

Beijing Xinghua Certified Public Accountants (special general partnership) has issued an audit report with qualified opinions on the company’s 2021 financial report. The board of directors and the board of supervisors of the company have explained the relevant matters in detail. Please pay attention to reading it.

The company was not profitable at the time of listing and is not profitable at present

□ applicable √ not applicable

The profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors

□ applicable √ not applicable

The company plans not to distribute cash dividends, bonus shares or increase share capital with provident fund.

Profit distribution plan for preferred shares in the reporting period adopted by the board of directors

□ applicable √ not applicable

2、 Basic information of the company

1. Company profile

Stock abbreviation: St security control stock code: Sichuan Etrol Technologies Co.Ltd(300370)

Shenzhen Stock Exchange

Contact person and contact information secretary of the board of directors securities affairs representative

Name: Xu Yongliang (Acting) Guo Lijiao

Office address: Building 9, Jinrun Industrial Park, Xuzhou District, Yibin City, Sichuan Province Building 9, Jinrun Industrial Park, Xuzhou District, Yibin City, Sichuan Province

Fax: 083164898886008

Tel: 0831648994708316489888, 01062977178

E-mail [email protected]. [email protected].

2. Introduction to main business or products during the reporting period

(I) main business of the company during the reporting period

During the reporting period, the company’s main business focused on the improvement of product technology core capabilities and scene application capabilities in the fields of automation, industrial control safety and intelligent manufacturing. It provided customers with products, technologies, overall solutions and services with independent intellectual property rights in the three business fields of automation, oil and gas services and intelligent industry, and was committed to making customers’ work more intelligent, efficient, safe and environmentally friendly.

1. Automated business

As a provider of innovative products and industrial control security solutions in the field of industrial Internet control, the company continued to promote the research and development of technologies, products and application scenarios related to industrial Internet, industrial control security and intelligent manufacturing during the reporting period, so as to further build and enhance the company’s core competitiveness in the field of oil and gas Internet of things and industrial control system security. At present, the company has e-iip (electronic intelligence information platform) industrial Internet platform, functional safety SIS system, modular RTU, integrated RTU, industry-specific controller, extended I / O, sensors and instruments, intelligent wearable and other independent core technology products; It has integrated industrial solutions such as oil and gas production Internet of things well pad solutions, oil and gas production Internet of things station solutions, oil and gas pipeline business solutions, oil tank truck security dispatching system, intelligent inspection system, integrated skid mounted high and low voltage distribution cabinet, intelligent factory and so on, forming a complete business chain integrating product R & D, production, sales and industrial system solutions, in oil and gas exploitation, oil and gas storage and transportation, urban gas Coal bed methane, water, grain depot, agriculture and other fields provide customers with automatic and intelligent innovative products and overall solution services for application scenarios.

2. Oil and gas services

The company’s oil and gas business services cover directional well technical services, fracturing, oil pollutant treatment technical services, oilfield chemical production and technical services, stimulation and injection technical services, public safety products and equipment, oil and gas field surface engineering construction, etc. during the reporting period, the company continued to build the technical advantages of comprehensive treatment of oilfield blocks and provide customers with multi-directional and high-end integrated services. 3. Smart industry business

The company takes automation and information technology as the core, combines cloud computing, Internet plus, big data and Internet of things to build smart city. It provides mature, complete, intelligent application scenarios intelligent products, overall solutions and technical services in intelligent building, intelligent security, intelligent transportation, Jiangsu Nonghua Intelligent Agriculture Technology Co.Ltd(000816) , smart Park and other fields.

(II) major new products and application scenarios during the reporting period

1. Intelligent well pad integrated solution

At present, no matter in the oil field or in other fields, all products are developing towards integration and intelligence, which is not only to control the cost, but also to reduce the difficulty of product maintenance. More importantly, it can let users experience the intelligence of products and let maintenance personnel truly experience the convenience and efficiency of products in use.

The upgraded intelligent well pad integrated RTU has the characteristics of Internet of things and interconnection of all things. The following means are used to connect all equipment in the well pad: the voltage output of the power supply unit of the equipment box is collected and diagnosed by AI analog quantity. The intelligent network management switch is connected and accessed by wire. The oil wells, water source wells, valve groups and third-party equipment in the well pad can be connected through wireless equipment and wired equipment. The field staff of the well pad can access the well pad data and configure the parameters of the intelligent well pad integrated RTU through wired connection and wireless connection. Workers in the operation area can access the data and configure parameters of the well pad through wired connection. The scheme integrated network management switch has VLAN division function, which can realize the isolation of video stream and data stream in the well pad, and provide more detailed data division and isolation on the basis of production network / office network isolation. 2. PLC control scheme of unattended station

Small stations are unattended and large stations are unattended, which is an important goal of oilfield digital management upgrading.

As the main station of the oilfield station, the booster station undertakes the functions of crude oil collection, oil and gas buffer, export booster, crude oil heating and so on. As a process control automation system, the basic requirements of the booster station control system are that the process parameters in the booster station operate within a reasonable range and the crude oil is smoothly transported to the downstream station. After the transformation, the unattended station has the emergency switching function of some processes. One patrol officer will be stationed at the site of the station. At ordinary times, he does not participate in the operation of the facilities in the station, but only carries out daily patrol inspection and fault treatment in emergency state.

In order to further improve the safe operation level of the unattended station, under the unattended operation mode, the PLC control program of the unattended station needs to fully consider the fault handling function of the station under various abnormal conditions. Therefore, in addition to the scheme control requirements designed by the Design Institute, the following control logic is added: ① alarm diagnosis of key process parameters. In addition to the monitoring staff being able to timely find the abnormal alarm of on-site process parameters through the monitoring platform, the on-site staff should also be able to timely understand the abnormal process conditions in the station through simple audible and visual alarm. ② The diagnosis and analysis function of production equipment and the remote unattended operation of unattended station are mainly guaranteed by various process instruments and equipment on site. PLC shall also complete the diagnosis and analysis function of key equipment. ③ The off-line diagnosis function of PLC equipment can timely remind the resident staff to strengthen the inspection of process facilities in the station, and strengthen the communication and coordination with SCADA monitoring platform.

3. Digital scheme of water shutoff and profile control

In order to improve oil recovery and achieve the purpose of increasing and stabilizing production, the oilfield invests huge human and material resources for water plugging and profile control every year. However, the workload of water plugging and profile control is huge, the number of construction teams is large, the construction fluidity of profile control site is large, the on-site management and supervision of profile control and water plugging are difficult and the efficiency is low. According to the requirements of “standardized design and modular construction” of the oilfield, the design is based on the concept of ensuring monitoring demand, reducing transformation cost and advanced and reliable scheme. The important production parameters in the construction process are monitored in real time, and the data acquisition and video storage server and special monitoring website are built based on the digital information platform. At the same time, the production monitoring of water shutoff and profile control is connected to the SCADA system platform, Realize real-time monitoring of operation process.

4. Near bit geological guidance system

The conventional MWD system can not meet the technical service needs of ultra-thin reservoir drilling because the measuring points of formation data are far from the bottom of the well and the measurement information is relatively lagging. Only the near bit MWD instrument can effectively improve the penetration rate of ultra-thin reservoir. Near bit geological guidance system is an indispensable tool for drilling horizontal wells in ultra-thin reservoirs.

The technical difficulties of near bit tools lie in the wireless cross transmission technology in the complex and changeable formation and the accurate azimuth measurement technology under high-speed rotation and violent vibration. After years of continuous testing and technical improvement, Zetian Shenghai, a subsidiary of the company, has successively launched wireless cross transmission schemes of different technical routes, which can realize stable cross transmission of communication in the environment of oil-based mud and high conductivity water-based mud, and the technology is industry-leading. Azimuth gamma measurement realizes the breakthrough from azimuth gamma in four directions to multi sector imaging gamma. Different geological data can be selected according to customer requirements to provide reliable data support for geological guidance control and block development. Zetianshenghai near bit geological guidance tool has played an important role in the development of coalbed methane in Shanxi Province, especially in the development of thin reservoir, the advantage of measuring points close to bit ensures high penetration rate and enhanced oil recovery; Effectively shorten the drilling time of the target layer and save the cost for the construction party.

5. High power underground turbine generator

With the continuous improvement of drilling quality requirements in the process of drilling operation, it is required to enrich geological data as much as possible. The traditional battery power supply mode will restrict the hooking and application of high-performance LWD (logging while drilling). The commonly used downhole turbine generator is often designed in complete sets with the mud pulser. The main purpose is to supply power to MWD (measure while drilling) measuring equipment and ensure that the mud pulser can produce sufficient energy pulse waveform. When such a generator is used to connect LWD tools, it will often encounter insufficient output power, which will affect the normal use of tools. In the use of high-power underground turbine generator, we will encounter various tests, such as high speed, high voltage ripple, unstable power supply output at low speed, abnormal electronic modules, easy eccentric wear of generator rotor and stator, and easy failure of rubber materials in high sulfur formation in Sichuan. The company’s subsidiary zetianshenghai underground high-power turbine generator has been recognized by the market and provides generator assembly and high-performance rectifier and voltage stabilizing module for relevant units such as PetroChina, Sinopec and CNOOC. The products include 100W, 150W, 200W, 300W and 500W series, which can not only meet the power supply of multiple LWD tools, but also provide supporting facilities for rotary steering drilling tools. The underground high-power turbine generator has the strength to replace similar imported generators and has been delivered to users.

6. Rotary guide tool accessories.

Rotary steering tool, which integrates various technical advantages of MWD, is an advanced drilling tool and has obvious advantages in automatic drilling operation. Due to the great technical difficulty, the main products and technologies are concentrated in the hands of several major foreign oil service companies. After several years of development and application, CNOOC and PetroChina have also achieved certain success. The rotary steering tool has advanced technology, complex design and good drilling effect. At the same time, it is accompanied by a pain point: the cost of accessories is high, the price of imported accessories is expensive and the supply cycle is long. In the process of developing independent rotation oriented tools, Zetian Shenghai, a subsidiary of the company, has made a technological breakthrough in the research and development of rotation oriented core accessories, which can customize a variety of core accessories, and the performance can meet the standards of imported similar products. It provides customized accessories for the rotary guide tools independently developed by CNOOC, PetroChina and other units, which has been recognized by users. 3. Main accounting data and financial indicators

(1) Main accounting data and financial indicators in recent three years

Does the company need to retroactively adjust or restate the accounting data of previous years

√ yes □ no

Retroactive adjustment or restatement of reasons

Changes in accounting policies

Unit: Yuan

At the end of 2020, the end of this year is higher than that at the end of 2019

Increase or decrease at the end of 2021

Top note top note: base note: base note: before adjustment, after adjustment, before adjustment,

Total assets 237520227746296727960247298934961843

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