Group 1 - China's investment and construction projects in the energy sector for Saudi Arabia, Iraq, UAE, Kuwait, Qatar, and Angola from 2020 to 2024 total $50.28 billion, with major oil and gas projects accounting for $29.15 billion, showing a year-on-year increasing trend [1] - The oil service equipment industry has high standards, long application cycles, and requires dual certification from both the industry and clients, creating significant technical barriers and a favorable competitive landscape [1] - Leading domestic oil service equipment companies, such as Jereh and Neway, have seen explosive growth in orders from the Middle East, with Jereh's orders in the region expected to double in 2024 and Neway's overseas orders increasing by 60% in Q1 2025, with Middle East and Africa orders making up 44% of the total [1] Group 2 - The long-term energy transition concerns have led oil companies to favor the development of offshore oil and gas resources, which have superior resource endowments and lower barrel costs, as oil prices remain stable [2] - The development of offshore oil and gas resources is gaining momentum, with advancements in technology and equipment enhancing the competitiveness of China's oil service industry in international markets [2] - It is recommended to focus on resource stocks and oil service stocks that demonstrate stable performance [2] Group 3 - Related Hong Kong-listed companies in the oil service sector include CNOOC Services (02883), Sinopec Oilfield Services (01033), Giant Oilfield Services (03303), Anton Oilfield Services (03337), and Honghua Group (00196) [3]

Core Viewpoint - Honghua Group has signed a sales agreement worth over 1.5 billion RMB for intelligent drilling rigs with a Middle Eastern client, indicating strong recognition of its new generation products in the high-end drilling market [1][2]. Group 1: Sales Agreement and Market Recognition - The sales agreement signed on May 23, 2025, is an addition to a previous contract for intelligent drilling rigs worth 1.5 billion RMB, showcasing the company's growing presence in the Middle East [1]. - The new generation AI intelligent drilling rigs utilize self-developed systems and machine learning algorithms, significantly improving operational efficiency compared to traditional equipment [2]. Group 2: Business Growth and Financial Performance - In 2024, Honghua Group's marine segment revenue surged to 860 million RMB, a year-on-year increase of 100.62%, contributing to 15.3% of total revenue [3]. - The company achieved a total revenue of 5.633 billion RMB in 2024, with a compound annual growth rate of 24.2% over the past three years, and successfully turned a profit with a net profit of 8 million RMB [4]. Group 3: Technological Advancements and Strategic Positioning - The intelligent drilling rigs incorporate six core technologies, enhancing operational efficiency, safety, mobility, and economic performance for clients [2]. - Honghua Group's transition from manufacturing to intelligent manufacturing is becoming clearer, with ongoing advancements in both intelligent drilling rigs and marine business [3].

Summary of Key Points Core Viewpoint - As of May 28, a total of 65 stocks reached their 52-week highs, with notable performances from Kingway Medical Holdings (08559), China Silver Technology (00515), and Honghui Group (00183) leading the list with high rates of increase [1]. Group 1: Stocks Reaching 52-Week Highs - Kingway Medical Holdings (08559) achieved a closing price of 0.027 with a peak of 0.045, marking a high rate of 32.35% [1]. - China Silver Technology (00515) closed at 0.280, reaching a maximum of 0.305, resulting in a high rate of 28.15% [1]. - Honghui Group (00183) had a closing price of 0.255, with a peak price of 0.255, reflecting a high rate of 27.50% [1]. - Other notable stocks include Emperor Watch and Jewellery (00887) with a high rate of 27.14% and Sogo Department Store (00312) at 21.79% [1]. Group 2: Additional Stocks with Significant Increases - Lehua Entertainment (02306) reached a high rate of 13.73% with a closing price of 2.540 [1]. - Kingway Medical (08143) had a closing price of 0.124 and a peak of 0.230, resulting in a high rate of 10.05% [1]. - Other stocks with notable increases include Zhu Feng Gold (01815) at 6.98% and Yaoshi Bang (09885) at 6.68% [1]. Group 3: Stocks with Lower Performance - The report also includes stocks that did not perform as well, with some reaching their 52-week lows, such as China Parenting Network (01736) with a low rate of -14.40% [2]. - XI Nan Tes-U (09366) and XI Nan Tes (07366) also showed declines of -10.08% and -8.60% respectively [2]. - Other stocks like He Fu Hui Huang (00733) and Pai Ge Biomedical-B (02565) experienced decreases of -7.04% and -6.95% [2].

Financial Performance - The total revenue for 2024 reached RMB 5.633 billion, representing a year-on-year growth of 2.93%[7] - Net profit attributable to shareholders was approximately RMB 0.08 billion, reversing a loss and increasing by RMB 0.394 billion[7] - Gross profit margin improved to 12.01%, an increase of 2.11 percentage points compared to the previous year[7] - Operating cash flow net amount surged by 993.5%, reaching RMB 0.678 billion[7] - The company achieved a significant gross profit increase of 24.9%, amounting to RMB 676.5 million[10] - The company recorded revenue of RMB 5,633.4 million for 2024, an increase of RMB 160.2 million or 2.9% year-on-year[19] - Gross profit reached RMB 676.5 million, representing a growth of 24.9% compared to the previous year[19] - The company's gross profit for the year was approximately RMB 677 million, with a gross margin of 12.0%, compared to a gross loss of RMB 542 million and a gross margin of 9.9% in the previous year[59] - Total revenue for the year was approximately RMB 5.633 billion, an increase of RMB 160 million or 2.9% from RMB 5.473 billion in the previous year, with significant growth in the marine segment[60] Market Performance - New effective orders increased by 20.99%, marking the highest level in nearly 8 years[9] - The company signed sales agreements for intelligent drilling machines exceeding RMB 1.5 billion, solidifying its leading position in the global high-end market[9] - New orders for offshore wind power jacket structures exceeded RMB 1.238 billion, with 55 large jacket orders signed[9] - Revenue from the Chinese market was RMB 2,618.1 million, up 18.5% year-on-year, accounting for 46.5% of total revenue[20] - Revenue from overseas markets was RMB 3,015.3 million, down 7.6% year-on-year, making up 53.5% of total revenue[20] - Revenue from the marine segment grew by 100.6% year-on-year, contributing 15.3% to total revenue[23] - The fracturing service business saw a significant increase in revenue by 56.8% year-on-year, with new orders up 118.05%[25] - The company secured over RMB 1.238 billion in new orders for offshore wind power jackets, including 55 large jacket orders, expanding into new regional markets[43] Cost and Financing - Financing costs decreased from 4.12% to 3.08%, with interest expenses down by approximately RMB 60 million[10] - The company’s debt decreased by approximately 5.87% to RMB 4.241 billion[10] - The company’s financing costs decreased by RMB 46 million or 26.1% to RMB 130 million, due to optimized financing structure[63] Research and Development - The company obtained 138 authorized patents and participated in the formulation of 20 standards, marking the highest achievements in the past four years[26] - The company plans to maintain a research and development investment intensity of about 5% to enhance technological innovation and support high-end, intelligent, and green development[55] - Research and development expenses for the year were approximately RMB 150 million, an increase of RMB 38 million or 33.9% compared to RMB 112 million in the same period last year, reflecting the company's commitment to automation and digitalization[63] Corporate Governance - The company has a strong board with members holding significant experience in various sectors, including energy and management, enhancing strategic decision-making capabilities[82][83][86][87] - The company emphasizes high-quality corporate governance to enhance shareholder value and protect shareholder rights[93] - The board consists of eight members, including three executive directors, two non-executive directors, and three independent non-executive directors[102] - The company has adopted a set of securities trading rules for directors that are at least as stringent as the standard rules outlined in the listing regulations[96] - The company has maintained compliance with the corporate governance code, except for one instance where the chairman was unable to attend the annual general meeting[94] Risk Management - The company has established a risk management framework based on a "three lines of defense" model to ensure effective internal controls and risk management[149] - The board is responsible for evaluating and determining the nature and extent of risks the company is willing to take to achieve its strategic objectives[145] - The company has strengthened its risk management system, achieving key results such as optimizing the risk assessment process and implementing risk management measures, with regular reports to the board and audit committee[154] Employee and Board Diversity - The current gender ratio in the board is 88% male and 12% female, with a total of 7 male and 1 female director[114] - Senior management also reflects the same gender ratio as the board, with 88% male and 12% female[114] - The total employee gender ratio is 80% male and 20% female, comprising 2,350 employees in total[114] - The company emphasizes equal employment opportunities and supports gender pay equality, ensuring no discrimination in hiring practices[115] Shareholder Communication - The company has established multiple communication channels to maintain ongoing dialogue with shareholders, including annual general meetings and various investor relations platforms[178] - The board of directors believes that the shareholder communication policy has been effectively implemented during the fiscal year, facilitating understanding and participation in company operations[178] - The company encourages shareholders to participate in meetings or appoint proxies to vote, ensuring transparency in decision-making processes[175]

Core Viewpoint - Honghua Group (0196.HK) reported a significant improvement in its 2024 annual performance, with both revenue and net profit increasing, while focusing on new directions in deep-sea and deep-earth development [3][10]. Financial Performance - The company achieved a total revenue of 5.633 billion RMB, representing a year-on-year growth of 2.9% [3]. - The net profit attributable to shareholders turned positive at 0.08 billion RMB, a substantial increase of 394% compared to the previous year [3]. - Gross margin improved to 12.0%, up by 2.1 percentage points year-on-year [3]. - Operating cash flow showed significant improvement with a net inflow of 0.678 billion RMB, a year-on-year increase of 993.55% [3]. Business Segments Land Drilling and Components - Revenue from land drilling rigs and components was 1.951 billion RMB, a decline of 17.1% year-on-year, but overseas markets, particularly the Middle East, contributed over 69.7% of revenue [4]. - New orders for complete land drilling rigs totaled 13 sets, with a total new order value increasing by 37.8% year-on-year [4]. - Component business revenue reached 1.662 billion RMB, with the company's mud pump products ranking third globally [4]. Fracturing Business - The fracturing equipment and services segment saw remarkable growth, with revenue of 0.823 billion RMB, a year-on-year increase of 56.8% [5]. - New orders amounted to 0.574 billion RMB, reflecting a growth of 118.1% year-on-year [5]. Drilling Engineering Services - Revenue from drilling engineering services was 0.337 billion RMB, down 15.0% year-on-year due to a reduction in domestic drilling activities [6]. - The overseas business accounted for 89.4% of total revenue, with new effective orders reaching 0.506 billion RMB [6]. Marine Segment - The marine business experienced explosive growth, with revenue of 0.860 billion RMB, a year-on-year increase of 100.6% [7]. - New orders for offshore wind power jacket foundations totaled 1.238 billion RMB, up 44.9% year-on-year [7]. Financial Structure and R&D Investment - The company benefited from reduced financing costs, with interest expenses decreasing by approximately 60 million RMB, and financing costs down by 1.04 percentage points to 3.08% [9]. - R&D investment reached 0.257 billion RMB, a year-on-year increase of 13.47% [9]. - The asset-liability ratio improved to 69.3%, with accounts receivable decreasing by 17.2% [9]. Strategic Focus - Honghua Group will continue to implement its "Equipment + Service + Diversification" strategy, focusing on land drilling rigs, components, and drilling engineering services while reshaping its fracturing equipment and services segment [10]. - The company aims to enhance its deep-sea and deep-earth business, leveraging national energy strategies and advancing domestic production of deep-sea exploration and marine drilling equipment [10].

Financial Performance - For the year ended December 31, 2024, the company reported revenue of RMB 5,633,410 thousand, representing a 2.9% increase from RMB 5,473,234 thousand in 2023[3]. - Gross profit for the year was RMB 676,504 thousand, a significant increase of 24.9% compared to RMB 541,773 thousand in the previous year, resulting in a gross margin of 12.0%, up 2.1 percentage points from 9.9%[3]. - The company achieved an operating profit of RMB 148,179 thousand, a turnaround from an operating loss of RMB 199,862 thousand in 2023[3]. - Net profit attributable to shareholders was RMB 7,576 thousand, compared to a loss of RMB 386,597 thousand in the previous year, with basic and diluted earnings per share of RMB 0.08, recovering from a loss of RMB 5.54[3]. - The company reported a total comprehensive income of RMB 82,827 thousand for the year, compared to a loss of RMB 426,847 thousand in 2023[7]. - The company reported a profit of RMB 39,823,000 for the year ended December 31, 2024, compared to a loss of RMB 411,006,000 in 2023, indicating a significant turnaround in performance[20]. - Basic and diluted loss per share for 2024 was RMB 0.08, a recovery from a loss of RMB 5.54 per share in 2023[36]. Revenue Breakdown - Total revenue for the year ended December 31, 2024, was RMB 7,016,627 thousand, an increase from RMB 6,982,379 thousand in 2023, representing a growth of approximately 0.49%[18]. - Revenue from external customers amounted to RMB 5,633,410 thousand for 2024, compared to RMB 5,473,234 thousand in 2023, indicating an increase of about 2.92%[18]. - The land drilling segment generated revenue of RMB 2,034,969 thousand in 2024, down from RMB 2,631,142 thousand in 2023, reflecting a decrease of approximately 22.7%[18]. - The marine segment's revenue increased to RMB 1,048,753 thousand in 2024 from RMB 549,937 thousand in 2023, marking a significant growth of approximately 90.7%[18]. - Revenue from land drilling rigs decreased to RMB 1,951,318,000 in 2024 from RMB 2,354,279,000 in 2023, while revenue from fracturing services increased to RMB 823,138,000 from RMB 524,807,000[20]. - Revenue from external customers in China increased to RMB 2,618,076,000 in 2024 from RMB 2,210,059,000 in 2023, demonstrating strong domestic demand[21]. - Revenue from components and other businesses reached RMB 1,662.2 million, accounting for 29.5% of total revenue[74]. Expenses and Costs - Research and development expenses increased to RMB 150,457 thousand from RMB 112,415 thousand, indicating a focus on innovation and product development[6]. - Depreciation and amortization expenses totaled RMB 322,333 thousand in 2024, compared to RMB 309,119 thousand in 2023, reflecting an increase of approximately 4.3%[18]. - The total income tax expense for 2024 was RMB 35,087,000, a significant increase from RMB 8,259,000 in 2023[32]. - Inventory costs recognized as expenses amounted to approximately RMB 3,085,181,000 in 2024, compared to RMB 2,912,934,000 in 2023, indicating an increase of around 5.9%[44]. Assets and Liabilities - Total assets decreased to RMB 11,928,201 thousand from RMB 12,519,539 thousand, while total liabilities also decreased to RMB 8,263,612 thousand from RMB 8,937,777 thousand[9]. - The company’s non-current assets decreased to RMB 4,294,609 thousand from RMB 4,453,314 thousand, primarily due to changes in property, plant, and equipment[8]. - The total liabilities of the group as of December 31, 2024, were approximately RMB 8.264 billion, with a debt-to-asset ratio of 69.3%, a decrease of 2.1 percentage points from the previous year[107]. - The total equity of the group as of December 31, 2024, was approximately RMB 3.665 billion, an increase of RMB 83 million from the previous year, with basic and diluted earnings per share both at RMB 0.08[108]. Cash Flow and Financing - Cash and cash equivalents increased slightly to RMB 790,586 thousand from RMB 777,660 thousand, reflecting improved liquidity[9]. - The company achieved a net gain from foreign exchange of RMB 31,836,000 in 2024, up from RMB 13,322,000 in 2023, contributing positively to overall financial performance[30]. - The company signed loan agreements with Dongfang Electric Finance for operational funding totaling RMB 160 million and RMB 100 million at a fixed interest rate of 2.4%[51]. - The company repaid RMB 301,710,000 of outstanding loans in July 2024, including repayments to various banks[50]. Strategic Initiatives and Future Outlook - The company plans to continue expanding its marine segment, which has reached a quantitative threshold and is now reported as a separate division[14]. - The company is advancing the development of deep-sea and floating wind power products in collaboration with various research institutions[82]. - The company anticipates a compound annual growth rate of 20.5% in offshore wind power installations globally from 2024 to 2033[81]. - 2025 is positioned as a significant year for the company to enhance management and drive high-quality development[89].

大家好,欢迎大家参加国阵国际联合录影中举办的录影大会上市公司交流专场,我是本场会议的主持人,国阵国际研究员作业者。本次会议我们邀请到了红华集团的 好的 谢谢安信国际谢谢各位投资者的时间 我先简单把洪华集团我们接触到现在的一些业务的主要的一些情况给各位投资机构投资人做个汇报然后看看大家有些什么样的问题我们这边再做回答洪华我们是做油气装备和服务的08年在香港主板上市 那现在大概有以下这么几个业务板块第一个呢我们是我们的这个海洋的板块那海洋板块是08年上市以后的这个募集的资金的投降我们是在江苏的南通下面的启东市呢有一块建造了一块海洋的基地大概是2000亩地1800米的海岸线那 之前我们主要是想从做陆地的钻井装备去延伸到做海洋的钻井平台但是由于行业从2014年开始的比较长的寒冬影响了我们在产品上的一个进程所以后续相应也做了一些调整我整个海洋的板块 之前没有达到我们整个公司的一个战略构想那现在红华的海洋板块主要销售中第一块占比最高的是海洋供电的装机结构的导管架这个我们是在大概三四年前左右进入到这个市场因为导管架这个产品原来在红华海洋油气的领域 我们也是做过的所以比较相同的技术吧那我们延伸到呢去做了这个海洋的供电那截止到 ...

Financial Performance - For the six months ended June 30, 2024, the company's revenue was RMB 2.776 billion, an increase of 11.3% compared to RMB 2.494 billion in the same period last year[47]. - Gross profit reached approximately RMB 302 million, a significant increase of 98.1% from RMB 152 million in the previous year[47]. - Shareholders' profit attributable to the company was approximately RMB 2 million[47]. - The group achieved total sales of 14 drilling rigs amounting to approximately RMB 869 million, a decrease of 24.8% compared to RMB 1.155 billion in the same period last year[51]. - Sales of spare parts reached RMB 1.426 billion, an increase of 61.7% from RMB 882 million year-on-year[51]. - The fracturing equipment and services business generated sales of approximately RMB 307 million, a 33.5% increase from RMB 230 million in the previous year[52]. - The group reported a revenue of approximately RMB 2.776 billion for the period, an increase of RMB 282 million or 11.3% compared to RMB 2.494 billion in the same period last year[64]. - Gross profit for the group was approximately RMB 302 million, with a gross margin of 10.9%, compared to a gross loss of RMB 152 million and a gross margin of 6.1% in the previous year[64]. - The group’s sales revenue from the mainland China region was approximately RMB 1.296 billion, accounting for 46.7% of total revenue, an increase of RMB 107 million year-on-year[65]. - The group’s export revenue was approximately RMB 1.48 billion, accounting for 53.3% of total revenue, an increase of RMB 1.75 billion compared to the previous year[65]. - The company reported a net loss of approximately RMB 3 million for the period, a significant improvement from a loss of RMB 168 million in the same period last year, resulting in a net margin of 0.1%[77]. - The company reported a profit attributable to owners of RMB 471,462 thousand, compared to RMB 473,007 thousand in the same period last year, reflecting a slight decrease of 0.3%[123]. Market and Business Segments - The company has seen substantial growth in its oil and gas business segment, with drilling equipment and components receiving orders from high-end clients in the Middle East and domestically[49]. - The fracturing services sector has fully entered the coalbed methane development industry, achieving significant performance growth[49]. - The international business of drilling engineering services has been robust, with important breakthroughs in the domestic market[49]. - The offshore wind power business has maintained a strong position in the large jacket market, with effective order amounts doubling compared to the same period last year[49]. - The group has secured orders for several high-end land drilling rigs in Kuwait, featuring self-developed digital control systems and integrated control systems, enhancing operational safety and efficiency[51]. - The group completed 1,130 fracturing operations in the first half of the year, marking a significant milestone in the domestic deep coalbed methane sector[52]. - The group has secured orders for 32 large offshore wind power jackets, expanding its market presence in new regions[55]. - The group’s renewable energy business has an order backlog of approximately RMB 900 million, with RMB 700 million specifically for offshore wind power[55]. Research and Development - The group invested approximately RMB 132 million in R&D, an increase of 8.3% compared to the previous year, and filed 57 patent applications[58]. - The group's R&D expenses were approximately RMB 58 million, an increase of RMB 21 million or 56.8% compared to RMB 37 million in the same period last year, reflecting a focus on automation and digitalization[73]. Corporate Governance - The company has complied with all provisions of the Corporate Governance Code except for F.2.2, which requires the chairman to attend the annual general meeting[86]. - The company has maintained a high level of corporate governance to enhance shareholder value and investor confidence[86]. - The company will continue to review its corporate governance practices to ensure compliance with the governance code[86]. - The company has established a Securities Trading Code for directors, ensuring compliance with the Listing Rules[89]. - The board appointed Mr. Wang Junren as an independent non-executive director on August 20, 2024, bringing the total to three, thus meeting the requirements of Listing Rules 3.10(1) and 3.10A[90]. Financial Position and Assets - The group's total assets as of June 30, 2024, were approximately RMB 12.771 billion, with current assets accounting for 65.9% of total assets[80]. - The group's total liabilities were approximately RMB 9.148 billion, with a debt-to-asset ratio of 71.63%, an increase of 0.24 percentage points from the previous period[81]. - The group's cash and cash equivalents were approximately RMB 961 million, an increase of RMB 183 million compared to the end of the previous year[79]. - The group reported a total comprehensive income of RMB 45,978 thousand for the period, compared to a loss of RMB 154,192 thousand in the same period last year, showing a significant turnaround[123]. - Total assets as of June 30, 2024, amounted to RMB 12,770,703 thousand, an increase from RMB 12,519,539 thousand as of December 31, 2023, representing a growth of approximately 2.0%[120]. - The company’s borrowings decreased to RMB 2,105,617 thousand from RMB 2,146,017 thousand, a reduction of about 1.9%[122]. Related Party Transactions - For the six months ended June 30, 2024, the group reported significant related party transactions, with procurement of components from Sichuan Material amounting to RMB 174,868,000, a 199% increase from RMB 58,497,000 in the same period of 2023[183]. - Sales of drilling machines, components, and other products to related parties totaled RMB 118,695,000, compared to RMB 92,275,000 in the previous year, reflecting a 28.8% increase[183]. - The group provided services to related parties amounting to RMB 10,165,000, down from RMB 21,889,000 in the previous year, indicating a decrease of 53.6%[186]. - The group reported a total of RMB 49,847,000 in service income from related parties, a substantial increase from RMB 4,234,000 in the previous year[186]. - Loans from related parties increased to RMB 587,653,000 in 2024 from RMB 445,000,000 in 2023, representing a 32% increase[190].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 2,776,000, an increase of 11.3% compared to RMB 2,494,437 for the same period in 2023[1] - Gross profit for the same period was RMB 301,514, representing a significant increase of 98.1% from RMB 152,202 in 2023[2] - Operating profit for the six months was RMB 80,970, a turnaround from an operating loss of RMB 22,563 in the previous year[2] - The company reported a net profit attributable to shareholders of RMB 2,419, compared to a loss of RMB 154,192 in the same period last year[2] - Basic and diluted earnings per share were RMB 0.03, recovering from a loss of RMB 2.91 per share in the previous year[2] - The gross margin improved to 10.9%, an increase of 4.8 percentage points from 6.1% in the prior year[1] - The group reported a pre-tax profit of RMB 12,498,000 for the six months ended June 30, 2024, recovering from a loss of RMB 167,149,000 in the same period of 2023[9] - For the six months ended June 30, 2024, the company reported a net loss attributable to owners of RMB 2,419 thousand, a significant improvement compared to a net loss of RMB 154,192 thousand for the same period in 2023[19] - EBITDA for the period was approximately RMB 232 million, an increase from RMB 134 million in the same period last year, with an EBITDA margin of 8.4% compared to 5.4% last year[62] Revenue Breakdown - The revenue from external customers in the land drilling segment was RMB 869,464,000, while the revenue from the same segment in the previous year was RMB 1,154,829,000, indicating a decrease of 24.7%[8] - The group generated RMB 327,584,000 in revenue from a single external customer, down from RMB 357,110,000 from another customer in the previous year[11] - The group’s revenue from the Middle East was RMB 779,714,000, a decrease of 4.9% from RMB 819,938,000 in 2023[10] - The group’s revenue from Africa was RMB 364,833,000, significantly increasing from RMB 101,834,000 in 2023, marking a growth of 258.5%[10] - The company’s sales revenue from the mainland China region was approximately RMB 1.296 billion, accounting for 46.7% of total revenue, an increase of RMB 107 million compared to the previous year[51] - The company’s export revenue was approximately RMB 1.48 billion, accounting for 53.3% of total revenue, an increase of RMB 1.75 million compared to the previous year[51] Expenses and Costs - Research and development expenses increased to RMB 58,212 from RMB 37,018, indicating a focus on innovation[2] - The company's sales cost for the period was approximately RMB 2.474 billion, an increase of RMB 132 million or 5.6% compared to RMB 2.342 billion in the same period last year[56] - The group's administrative expenses for the period were approximately RMB 130 million, an increase of RMB 9 million or 7.4% compared to RMB 121 million in the same period last year, primarily due to increased employee benefits[59] - Research and development expenses for the period were approximately RMB 58 million, an increase of RMB 21 million or 56.8% compared to RMB 37 million in the same period last year, reflecting a continued focus on automation, digitalization, and intelligence in drilling equipment[59] Assets and Liabilities - Total assets as of June 30, 2024, were RMB 12,770,703, up from RMB 12,519,539 at the end of 2023[5] - The total non-current assets, excluding financial instruments and deferred tax assets, were RMB 3,273,972,000 as of June 30, 2024, down from RMB 3,375,106,000 at the end of 2023[11] - The group had cash and cash equivalents of approximately RMB 961 million, an increase of RMB 183 million compared to the end of the previous year[64] - The group's total liabilities were approximately RMB 9.148 billion, with a debt-to-asset ratio of 71.63%, an increase of 0.24 percentage points from the end of the previous year[66] - The total borrowings as of June 30, 2024, reached RMB 4,842,987, compared to RMB 4,470,069 as of December 31, 2023, indicating an increase of 8.3%[27] Dividends and Shareholder Returns - The company has proposed not to declare an interim dividend for the period[1] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with the previous year[20] - The group proposed no interim dividend as of June 30, 2024[63] Operational Highlights - The company sold a total of 14 drilling rigs, generating sales of approximately RMB 869 million, a decrease of 24.8% from RMB 1.155 billion in the previous year[40] - Sales of spare parts amounted to RMB 1.426 billion, an increase of 61.7% compared to RMB 882 million in the same period last year[40] - The group completed 1,130 fracturing operations in the first half of the year, with a backlog of contracts amounting to approximately RMB 400 million as of June 30, 2024[41] - The group secured a drilling project contract with Sinopec, marking its entry into the Sichuan-Chongqing shale gas market, with the first well reaching a depth of 5,949 meters[42] - The renewable energy segment signed 32 orders for large offshore wind power jackets, with a backlog of contracts amounting to approximately RMB 900 million, including RMB 700 million for offshore wind power[44] Future Outlook - The company is optimistic about the business outlook for the second half of 2024, focusing on high-end and intelligent drilling equipment, as well as expanding into the coalbed methane market[49] - The company plans to enhance its offshore wind power products and services, leveraging technological advancements and market opportunities in the renewable energy sector[49] Compliance and Governance - The company has adopted a set of securities trading codes for directors, which are as strict as the standards outlined in the Listing Rules Appendix C3[72] - All directors confirmed compliance with the securities trading codes during the reporting period ending June 30, 2024[72] - There were no reported incidents of employees violating the written guidelines for securities trading during the reporting period[73]

宏华集团（0196.HK）海洋工程装备生产基地投资者开放日20240606 宏华海洋油气装备（江苏）有限公司是宏华集团附属公司，其位于长江入海口的江苏省启东海工船 舶工业园，是海洋工程装备领域集设计、建造、调试为一体的高新技术企业，厂区占地约140万平方 米，岸线长1800米，重型组块建造车间11万平米，拥有万吨龙门吊"宏海号"、舾装码头、材料码 头、港池等一系列配套设施，总体规划和布局合理，工艺流程高效，是母公司东方宏华海洋工程装备 的重要建造基地。 公司业务范围覆盖海上风电桩基钢构、升压站、海洋油气模块、船舶分/总段、容器等大型钢结构 建造加工，同时具备中小型工程船舶整体建造能力，在大型风电导管架细分市场占有率名列前茅。 核心亮点： 1.区位优势：宏华海洋基地位于长江入海口北岸，距离上海浦东国际机场仅 100 公里，拥有长达 1800 米的黄金海岸线，一期已投入使用的岸线长度 800 米，主航道自然水深处于 5.5 米至 8 米之 间，码头侧设计深度在 8 米左右。岸上还配备了 60 吨及 45 吨的岸吊各 1 台，对大型产品的运输 和服务具备显著的交通便利优势和成本优势。并且，这些资源还能作为未来海外业 ...