Group 1 - Oil stocks experienced significant gains, with major companies like China Petroleum and China National Offshore Oil Corporation seeing increases of over 5% and 2% respectively [1] - Morgan Stanley's latest report highlights unprecedented discrepancies in OPEC's crude oil production estimates, with a difference of up to 2.5 million barrels per day [1] - The report suggests that OPEC's production increase plans are largely ineffective, with actual idle capacity being much lower than expected, and global oil demand is stronger than commonly perceived [1] Group 2 - Everbright Securities reports that the "Big Three" oil companies in China (China National Petroleum, Sinopec, and CNOOC) will continue to enhance their reserves and production amid increasing external uncertainties and oil price volatility [2] - The projected growth in oil and gas equivalent production for the "Big Three" over the next 25 years is 1.6% for China National Petroleum, 1.5% for Sinopec, and 5.9% for CNOOC [2] - The "Big Three" are expected to achieve long-term growth through continuous cost reduction and incremental production efforts, highlighting their long-term investment value [2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 延長石油國際有限公司 呈交日期: 2025年10月8日 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00346 | 說明 | 普通股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | HKD | | 0.4 HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 5,000,000,000 | HKD | | ...

Group 1 - Hong Kong oil stocks generally rose, with notable increases including Yanchang Petroleum up 2.5%, CNOOC up 1.6%, and PetroChina and China Oilfield Services both rising over 1% [1][1][1] - WTI crude oil for November delivery increased by $1.13, a rise of over 1.81%, closing at $63.41 per barrel, ending a four-day decline [1][1][1] - Investors are focused on the export outlook from the Iraqi Kurdistan region and the escalating threats to Russian supply [1][1][1] Group 2 - U.S. President Trump reiterated that the U.S. is prepared to impose strong tariffs on Russia, but these tariffs would only be effective in ending the Russia-Ukraine conflict if European countries stop purchasing Russian oil [1][1][1] - Chevron has halved its oil exports from Venezuela due to new regulations limiting cash payments [1][1][1]

Core Insights - The company is a Hong Kong investment holding firm engaged in the oil business, operating through two main divisions: exploration, extraction, and operations, and supply and procurement [9] Financial Performance - The company's revenue and net profit growth rates have shown significant fluctuations over the years, with a notable increase in revenue in 2022 compared to previous years [11][14] - For the first half of 2025, the company reported a revenue of 288.536 million HKD from the supply and procurement division and 19.004 million HKD from exploration, extraction, and operations [15][18] - The average return on equity for the first half of 2025 was -2.24%, a decrease of 0.09 percentage points from the same period last year [21] Asset and Liability Changes - As of the first half of 2025, accounts receivable increased by 21.78%, while cash and cash equivalents decreased by 13.87% [28] - Long-term borrowings decreased by 61.16%, while short-term borrowings increased by 83.8% [31] - The company's current ratio was 0.81 and the quick ratio was 0.73 as of the first half of 2025 [34] Efficiency Metrics - The company's total asset turnover ratio has been compared with the A-share industry average and median, indicating its operational efficiency [22][24] - Historical trends show variations in the company's fixed asset turnover and accounts receivable turnover ratios compared to industry benchmarks [25][27]

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） （Stock Code 股份代號：00346） NOTIFICATION LETTER 通知信函 Dear Non-Registered Shareholders, Yanchang Petroleum International Limited (the "Company") – Notice of publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at www.yanchanginternational.com and the website of The Stock Exchange of Hong Kong Limited (the " ...

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） Yanchang Petroleum International Limited (the "Company") – Notice of publication of Interim Report 2025 (the "Current Corporate Communication") The English and Chinese versions of the Company's Current Corporate Communications are now available on the Company's website at www.yanchanginternational.com and the website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk respectively (the "Website Version"). The C ...

Financial Performance - Revenue for the six months ended June 30, 2025, was HKD 9,994,518, a decrease of 40.5% compared to HKD 16,771,559 for the same period in 2024[4] - The company reported a loss attributable to owners of the company of HKD 28,537, compared to a loss of HKD 27,018 in the prior year[5] - For the six months ended June 30, 2025, the company reported a net loss of HKD 28,537,000, compared to a net loss of HKD 27,018,000 for the same period in 2024[10] - The operating loss for the six months ended June 30, 2025, was HKD 10,451,000, compared to a loss of HKD 10,180,000 in the same period of 2024[30] - The company reported a decrease in accumulated losses to HKD 7,545,575,000 as of June 30, 2025, from HKD 7,596,941,000 at the beginning of the period[10] - The company reported a foreign exchange gain of HKD 76,831 for the period, compared to a loss of HKD 37,621 in the previous year[5] - The total comprehensive income for the period was HKD 48,984, compared to a loss of HKD 64,887 in the previous year[5] Assets and Liabilities - Non-current assets increased to HKD 1,990,953 as of June 30, 2025, from HKD 1,926,237 as of December 31, 2024[7] - Current assets rose to HKD 924,012, up from HKD 873,762 at the end of 2024[7] - Total liabilities increased to HKD 1,565,802 as of June 30, 2025, compared to HKD 1,499,820 at the end of 2024[8] - The total assets as of June 30, 2025, amounted to HKD 2,914,965,000, an increase from HKD 2,799,999,000 as of December 31, 2024[21] - The company's cash and bank balances decreased to HKD 240,015 from HKD 278,675[7] - The company had cash and cash equivalents of HKD 240,015,000 at the end of the period, down from HKD 256,887,000 at the end of June 2024[11] - The overdue accounts receivable over 90 days increased significantly to HKD 50,072,000 as of June 30, 2025, compared to HKD 22,455,000 as of December 31, 2024, representing a 123.5% increase[52] Cash Flow and Expenditures - Cash flow from operating activities showed a net outflow of HKD 158,023,000, a significant decrease from a net inflow of HKD 204,078,000 in the previous year[11] - The company incurred capital expenditures of HKD 1,184,000 for property, plant, and equipment, compared to HKD 22,034,000 in the previous year[11] - The company’s management compensation increased to HKD 8,857,000 for the six months ended June 30, 2025, compared to HKD 7,476,000 in the same period of 2024[76] Shareholder Information - The company did not recommend any interim dividend for the six months ended June 30, 2025, consistent with the previous year[35] - The board of directors did not recommend the payment of an interim dividend for the six months ended June 30, 2025, consistent with the previous year[135] - As of June 30, 2025, the major shareholder, 延长石油集团, held 634,310,161 shares, representing 57.66% of the total issued ordinary shares[142] Operational Highlights - Average daily production in Canada was 1,216 barrels of oil and 2,250 thousand cubic feet of gas, with a total net production of 263,000 barrels of oil equivalent, representing a 37% year-on-year decrease[85][80] - The group achieved natural gas sales of 58,700 equivalent barrels, reaching 97% of its target despite challenges from third-party pipeline pressures[86] - The company is focusing on fine management of oil fields to enhance economic efficiency and has implemented 52 various production enhancement measures, increasing daily production by 103 barrels[89] - Novus achieved oil and gas sales volume of 263,010 equivalent barrels, generating revenue of HKD 94,132,000, a decrease from 456,989 equivalent barrels and HKD 189,103,000 in the same period last year, representing a decline of approximately 42.5% in sales volume and 50% in revenue[101] Compliance and Governance - The audit committee, composed of three independent non-executive directors, reviewed the accounting principles and policies adopted by the company for the six months ended June 30, 2025[148] - The company has no significant contingent liabilities as of June 30, 2025[74] - The company has adopted new or revised Hong Kong Financial Reporting Standards, which did not have a significant impact on the financial results for the current or prior periods[15]

Core Viewpoint - Hong Kong oil stocks collectively declined, with significant drops observed in major companies ahead of the upcoming OPEC+ meeting, where an increase in production targets is anticipated [1] Group 1: Stock Performance - CNOOC Services (02883) fell by 3.27% to 6.800 - Yanchang Petroleum (00346) decreased by 2.33% to 0.420 - Sinopec (00386) dropped by 2.22% to 4.100 - PetroChina (00857) declined by 1.55% to 7.620 - Shanghai Petrochemical (00338) fell by 1.53% to 1.290 - CNOOC (00883) decreased by 1.36% to 19.600 [1] Group 2: Market Context - Investors and traders are focusing on the OPEC+ meeting this weekend, with expectations of a potential increase in production targets [1] - Oil prices declined on Thursday, continuing a previous drop of over 2% [1] - Analysts suggest that OPEC+ is seeking to regain market share, which may lead to a production increase in October [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 延長石油國際有限公司 呈交日期: 2025年9月1日 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00346 | 說明 | 普通股 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,100,102,803 | | 0 | | 1,100,102,803 | | 增加 / 減少 (-) | | | 0 | | | | | | 本月底結存 | | | 1,100,102,803 | | 0 | | 1,100,102,803 | 第 2 頁 共 10 頁 v 1.1.1 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 ...

Group 1 - The company reported a revenue of HKD 9.995 billion for the mid-year of 2025, a decrease from HKD 16.77 billion in the same period last year [1] - The company incurred a loss of HKD 27.85 million during the period, compared to a loss of HKD 27.266 million in the previous year [1]