香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 （於 百慕達註冊成立之有限公司） （股份代號：00346） 盈利警告 本 公 告 由 延 長 石 油 國 際 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱 為「本集團」） 根據香港聯合交易所有限公司證券上市規則第13.09條及香港法例第571章證券 及期貨條例第XIVA部 之 內 幕 消 息 條 文 而 作 出。 本 公 司 董 事 會（「董事會」）謹 此 知 會 本 公 司 股 東 及 有 意 投 資 者，根 據 現 有 本 集 團 之 未 經 審 核 管 理 帳 目，本 集 團 預 期 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 錄 得 虧損約2,790萬 港 元，相 對 去 年 同 期 虧 損 約2,730萬 港 元。本 集 團 於 二 零 二 五 年 的 中期虧損主要由於加拿大的油氣生產業務錄得虧損約2 ...

Group 1 - The core viewpoint of the article highlights the significant market activity in low-priced oil and gas stocks in the Hong Kong market, particularly the dramatic rise in share prices of certain companies [1] - Jixing New Energy (03395.HK) experienced a surge of over 300% in its stock price, indicating strong investor interest and market speculation [1] - Other companies in the sector also saw notable increases, with Baikin Oil Services (02178.HK) rising over 40% and Yanchang Petroleum International (00346.HK) increasing by 13% [1]

Group 1 - Hong Kong low-priced oil and gas stocks opened higher, with Jixing New Energy (03395.HK) rising nearly 15% [1] - Extended Petroleum International (00346.HK) increased by over 11% [1] - Baikin Oil Services (02178.HK) saw a rise of over 13% [1]

Group 1 - The Hong Kong stock market saw a strong performance in the oil sector, with notable gains in several companies [1] - Yanchang Petroleum International (00346.HK) experienced a significant increase of 20.59% [1] - Other companies in the sector also reported gains, including Kunlun Energy (00135.HK) up by 2.78%, China National Offshore Oil Corporation (00833.HK) up by 2.18%, and CNOOC Services (02883.HK) up by 2.08% [1]

行业估值方面，石油及天然气行业市盈率（TTM）平均值为-5.71倍，行业中值4.02倍。延长石油国际市 盈率6.2倍，行业排名第8位；其他珠江钢管（01938.HK）为0.86倍、CGII HLDGS（01940.HK）为4.02 倍、域高国际控股（01621.HK）为4.84倍、中信资源（01205.HK）为5.01倍、交运燃气（01407.HK） 为5.23倍。 资料显示，延长石油国际有限公司的业务贯穿油气行业的上、下游。上游业务包括油气勘探、开发及开 采;下游业务包括燃油买卖及分销。延长石油集团海外业务及旗舰延长石油国际是其最大主要股东—延 长石油集团发展海外业务的重要平台,延长石油集团为中国从事勘探及开发石油和天然气的四大国有企 业之一。2021年,延长石油集团位居《财富》世界500强企业第234位。在大股东的支持下,延长石油国际 积极在政治稳定地区寻求并购机会,锐意成为中型国际能源企业。上游业务延长石油国际透过其全资子 公司Novus EnergyInc.(「Novus」)成功进入北美油气市场。Novus在加拿大萨斯喀彻尔省及艾伯塔省从 事油气生产业务。Novus油气生产业务:Novus在加拿大的萨 ...

Company Overview - 延长石油国际有限公司 operates across the upstream and downstream sectors of the oil and gas industry, with upstream activities including exploration, development, and production, while downstream activities involve the sale and distribution of fuel [2] - The company is a significant platform for 延长石油集团, which is one of China's four state-owned enterprises engaged in oil and gas exploration and development [2] - 延长石油集团 ranked 234th in the Fortune Global 500 in 2021, indicating its substantial market presence and support for 延长石油国际's international expansion efforts [2] Financial Performance - As of December 31, 2024, 延长石油国际 reported total revenue of 27.026 billion yuan, representing a year-on-year growth of 5.2% [1] - The company's net profit attributable to shareholders was 50.1247 million yuan, showing a significant decline of 75.12% compared to the previous year [1] - The gross profit margin stood at 1.07%, with a debt-to-asset ratio of 53.57% [1] Market Position and Valuation - 延长石油国际's price-to-earnings (P/E) ratio is 5.59, ranking 8th in the oil and gas industry, which has an average P/E ratio of -18.17 and a median of 2.43 [1] - The company has underperformed the Hang Seng Index, with a cumulative increase of 5.77% over the past month and year, lagging behind the index's 14% rise [1] Business Operations - The upstream segment includes Novus Energy Inc., which has successfully entered the North American oil and gas market, focusing on production in Saskatchewan and Alberta [2] - Novus has drilled approximately 360 horizontal wells since its inception in 2009 and currently holds 160,000 net acres of land, indicating significant development potential [2] - The downstream segment operates through 河南延长, which has a distribution capacity exceeding 2 million tons of refined oil annually and maintains a 100% cash collection rate under its "payment before delivery" policy [2]

Financial Performance - In 2024, Novus Energy Inc. sold 843,000 equivalent barrels of oil and gas, a year-on-year decrease of 22.95%, with sales revenue of CAD 60.8 million, down 29.61%[7]. - The average natural gas sales price dropped significantly by 41.02%, while the mixed oil and gas sales price decreased by 8.65%[7]. - Novus achieved a net profit of CAD 11.6 million, aided by a reversal of impairment on oil and gas assets amounting to CAD 25.26 million[7]. - The company's revenue for the fiscal year ending December 31, 2024, was HKD 29,184,915,000, representing a 5% increase from HKD 27,742,529,000 in 2023[28]. - Other income decreased by 49% to HKD 9,132,000 from HKD 17,784,000 in the previous year[31]. - The cost of revenue increased to HKD 28,782,973,000, up 6% from HKD 27,145,282,000, primarily due to increased sales in the oil and by-products trade in China[32]. - The operating loss from exploration, extraction, and production business was HKD 4,300,000, compared to an operating profit of HKD 33,431,000 in 2023, with oil and gas sales volume dropping to 843,000 equivalent barrels from 1,093,000[29]. - Revenue from oil and by-products trade in China increased to HKD 28,853,582,000 from HKD 27,240,712,000, despite a decrease in selling prices[30]. - The company recorded a profit of HKD 55,578,000 for the year, a significant decrease from HKD 580,132,000 in the previous year, primarily due to the absence of one-time gains recognized in 2023[46]. Production and Operations - Total capital expenditure for the year was CAD 11.31 million, with 5 new one-mile wells drilled, contributing 7,300 tons of new well production[8]. - Novus implemented over 105 production optimization measures, resulting in an increase of 129 equivalent barrels per day in production[9]. - The company signed a 5-year transportation agreement with a pipeline company, reducing transportation rates by 11% and saving CAD 650,000 in transportation costs for 2024[9]. - Novus completed a comprehensive geological study of its oilfield, which was recognized with a first-class award from the Shaanxi Petrochemical Science and Technology Award[10]. - The company successfully maintained over 80 drillable locations to avoid expiration risks, ensuring operational readiness[9]. - Novus's single well completion cost decreased by CAD 80,000 per well compared to the previous year[9]. - Novus drilled 5 one-mile wells with a total footage of 11,628 meters, achieving a drilling cycle of under 5 days and a 100% drilling success rate[11]. - Novus completed the drilling of one exploratory well in the "Success" reservoir, producing a cumulative output of 5,000 equivalent barrels over six months[15]. Reserves and Assets - The 2P reserves increased by 124.7 thousand equivalent barrels, reaching 18.52 million equivalent barrels by the end of 2024, a year-on-year increase of 2.3%[12]. - As of December 31, 2024, the group's capital commitments for property, plant, and equipment amounted to HKD 179,000, down from HKD 275,000 as of December 31, 2023[69]. - The group's confirmed and probable reserves as of January 1, 2024, were estimated at 13,601.3 thousand barrels of oil equivalent, increasing to 13,737.0 thousand barrels by December 31, 2024[85]. - The total assets decreased from HKD 3,684,542,000 in 2023 to HKD 2,799,999,000 in 2024, representing a decline of approximately 24%[62]. - The company's property, plant, and equipment decreased by 5% from HKD 1,859,533,000 in 2023 to HKD 1,771,918,000 in 2024[44]. - The company's exploration and evaluation assets decreased by 22% from HKD 11,384,000 in 2023 to HKD 8,898,000 in 2024[44]. Liabilities and Financial Health - The company’s total liabilities decreased from HKD 2,336,376,000 in 2023 to HKD 1,499,820,000 in 2024, a reduction of approximately 36%[62]. - The company's current ratio improved from 79.5% in 2023 to 107.0% in 2024, indicating better short-term financial health[62]. - The company’s capital debt ratio improved from 173.3% in 2023 to 115.4% in 2024, reflecting a stronger equity position[62]. - Trade receivables decreased by 55% from HKD 1,014,916,000 in 2023 to HKD 457,758,000 in 2024[53]. - Cash and bank balances increased by 23% from HKD 226,188,000 in 2023 to HKD 278,675,000 in 2024[55]. Corporate Governance - The board did not recommend any dividend for the year ending December 31, 2024, consistent with the previous year[73]. - The company has adopted the standard code of corporate governance as per the listing rules and confirmed compliance for the year ending December 31, 2024[144]. - The board is committed to high standards of corporate governance and will continue to review and improve governance practices to enhance shareholder value[151]. - The company has established three board committees: the audit committee, remuneration committee, and nomination committee, to assist the board in fulfilling its responsibilities[168]. - The audit committee is tasked with overseeing the financial reporting, risk management, and internal control systems of the group[169]. - The company has engaged external independent consultants for annual reviews of its risk management and internal control systems[184]. - The board has confirmed compliance with the standards set out in the listing rules regarding securities transactions throughout the year[177]. Shareholder Relations - The company maintains a shareholder communication policy to enhance transparency and facilitate effective communication between shareholders and management[198]. - The board of directors is open to addressing shareholder inquiries during annual general meetings[196]. - The company has a clear procedure for shareholders to propose resolutions at special meetings, requiring a written request from shareholders holding at least 10% of the paid-up capital[194]. - The company actively communicates with shareholders through annual and interim reports, ensuring timely disclosure of relevant information[196]. Environmental and Social Responsibility - The company achieved a carbon dioxide reduction of 136,000 tons, avoiding penalties of CAD 13.52 million for carbon emissions[18]. - The company has established a robust anti-corruption policy, ensuring no incidents of corruption were reported during the year[187]. - Employees are encouraged to report suspicious activities anonymously, with investigations conducted confidentially and without retaliation[189]. - The company has implemented a fair procurement process to eliminate potential corruption risks[187]. - The company's internal anti-corruption policies are mandatory for all employees, promoting a culture of integrity[187].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 29,194,047, an increase of 5.2% from HKD 27,760,313 in 2023[2] - The company reported a net profit of HKD 55,578 for the year, down 90.4% from HKD 580,132 in the previous year[3] - Basic earnings per share decreased to HKD 4.92, compared to HKD 19.89 in 2023, representing a decline of 75.2%[3] - The group reported a net profit of HKD 55,578 thousand for the year, down from HKD 580,132 thousand in the previous year, indicating a decline of about 90%[24] - The annual profit for 2024 was HKD 55,578,000, significantly down from HKD 580,132,000 in 2023, mainly due to the absence of one-time gains from the previous year[88] Revenue Breakdown - The group's revenue from external customers for the exploration, extraction, and operation segment was HKD 331,333 thousand in 2024, down from HKD 501,817 thousand in 2023, representing a decrease of approximately 34%[24] - The supply and procurement segment generated revenue of HKD 28,853,582 thousand in 2024, an increase from HKD 27,240,712 thousand in 2023, reflecting a growth of about 5.9%[24] - Revenue from oil and gas sales was HKD 331,333,000 in 2024, down from HKD 501,817,000 in 2023, indicating a decline of about 34%[34] - Revenue from trading and distribution of petroleum-related products increased to HKD 28,853,582,000 in 2024, compared to HKD 27,240,712,000 in 2023, reflecting a growth of approximately 5.9%[34] Assets and Liabilities - Total assets decreased to HKD 2,799,999 from HKD 3,684,542, a reduction of 24.0%[4] - Total liabilities decreased from HKD 2,336,376 thousand in 2023 to HKD 1,499,820 thousand in 2024, representing a reduction of approximately 36%[5] - Current liabilities decreased from HKD 2,067,497 thousand in 2023 to HKD 816,878 thousand in 2024, a decline of about 60%[5] - Non-current liabilities increased from HKD 268,879 thousand in 2023 to HKD 682,942 thousand in 2024, an increase of approximately 154%[5] - Total equity and liabilities decreased from HKD 3,684,542 thousand in 2023 to HKD 2,799,999 thousand in 2024, a reduction of around 24%[5] Cash Flow and Financial Position - Cash and bank balances increased to HKD 278,675 from HKD 226,188, showing a growth of 23.2%[4] - The net current assets improved from a negative HKD 423,960 thousand in 2023 to a positive HKD 56,884 thousand in 2024[5] - Total assets minus current liabilities increased from HKD 1,617,045 thousand in 2023 to HKD 1,983,121 thousand in 2024, an increase of about 23%[5] - Trade receivables as of December 31, 2024, include HKD 434,230,000 aged 0 to 30 days, down from HKD 992,263,000 in 2023[51] - Trade payables as of December 31, 2024, total HKD 468,732,000, compared to HKD 938,645,000 in 2023[52] Operational Efficiency and Strategy - The company plans to focus on market expansion and new product development in the upcoming year[2] - The company has allocated resources for technology research and development to enhance operational efficiency[2] - The company focused on cost control measures, reducing single well completion costs by CAD 80,000 per well compared to the previous year[60] - Novus's operational strategy emphasized enhancing production efficiency and optimizing operational management amidst challenging market conditions[57] Compliance and Governance - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, which may impact future financial reporting[9] - Management continues to review estimates and assumptions that affect the financial statements, ensuring compliance with Hong Kong Financial Reporting Standards[8] - The board is committed to high standards of corporate governance and has reviewed its practices to ensure effective leadership and long-term shareholder value[125] - The audit committee, consisting of three independent non-executive directors, has reviewed the company's financial performance for the year ending December 31, 2024[128] Environmental and Social Responsibility - The company has maintained compliance with all relevant environmental laws and regulations in Hong Kong, Canada, and China as of the reporting date[123] - The company has not reported any significant environmental claims, lawsuits, penalties, or administrative sanctions[123] - Novus's carbon emissions reduction efforts resulted in a total reduction of 136,000 tons of CO2, avoiding penalties of CAD 13.52 million[64] Future Outlook - The company anticipates challenges in the international oil market in 2025, including weak demand recovery and high supply volatility[70] - The company aims to enhance the efficiency of the entire oil and gas industry chain and strengthen cost control through digital tools[70]

xxxxxxc bETROLEDMALLAND COMMED (京百慕迪柱俄成立之有限公司) 股份代號: 00346 00 中 期 報 告 ２０２ ４ ● 公司資料 | --- | --- | |-------|----------------------------------------------------| | | | | | 執行董事 封銀國先生 （主席） 王海寧女士 丁嘉晟先生 | | | | | | 非執行董事 孫健先生 | | | 獨立非執行董事 | | | | | | 梁廷育先生 孫立明先生 牟國棟博士 | | | 吳永嘉先生 | | | 公司秘書 | | | 羅慶林先生 | | | 審核委員會 | | | 梁廷育先生 （主席） 吳永嘉先生 孫立明先生 | | | 薪酬委員會 | | | 孫立明先生 （主席） 梁廷育先生 | 封銀國先生 提名委員會 吳永嘉先生（主席） 孫立明先生 封銀國先生 授權代表 封銀國先生 羅慶林先生 核數師 香港立信德豪會計師事務所有限公司 於《財務匯報局條例》下的註冊公眾利益 實體核數師 執業會計師 香港 干諾道中111號 永安中心25樓 註冊辦事處 Clare ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 16,771,559, an increase of 46.5% compared to HKD 11,467,941 for the same period in 2023[2] - Operating loss for the six months ended June 30, 2024, was HKD (10,180), compared to a profit of HKD 42,765 in the same period of 2023[3] - Total comprehensive loss for the period was HKD (64,887), compared to a profit of HKD 59,758 in the same period of 2023[3] - The company reported a basic and diluted loss per share of HKD (2.46) for the six months ended June 30, 2024, compared to earnings of HKD 1.40 in the same period of 2023[3] - The group reported a net loss of HKD 27,266,000 for the current period, compared to a profit of HKD 12,806,000 for the same period last year[12] - The group reported a net loss of HKD 27,018,000 for the six months ended June 30, 2024, compared to a profit of HKD 15,209,000 in the same period of 2023[24] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 3,766,326, an increase from HKD 3,684,542 as of December 31, 2023[4] - Current liabilities increased to HKD 2,221,023 as of June 30, 2024, compared to HKD 2,067,497 as of December 31, 2023[5] - The group's total liabilities increased to HKD 2,483,047,000 as of June 30, 2024, compared to HKD 2,336,376,000 as of December 31, 2023[14] - The company’s total equity decreased to HKD 1,283,279 as of June 30, 2024, from HKD 1,348,166 as of December 31, 2023[4] - The group’s total liabilities in the supply and procurement segment were HKD 1,783,526,000 as of June 30, 2024, compared to HKD 1,556,645,000 as of December 31, 2023[14] Revenue Segments - The group's revenue from the supply and procurement business segment reached HKD 16,582,456,000 for the six months ended June 30, 2024, compared to HKD 11,236,496,000 for the same period in 2023, representing an increase of approximately 47%[15] - Revenue from trading and distribution of oil-related products increased significantly to HKD 16,582,456,000, up from HKD 11,236,496,000, marking a growth of about 47.8%[16] - The Chinese oil and by-products trading business saw sales volume increase from 1.41 million tons last year to 2.13 million tons this period, with revenue rising from HKD 11,236,496,000 to HKD 16,582,456,000, representing a growth of approximately 89.5%[45] Costs and Expenses - The cost of goods sold for the six months ended June 30, 2024, was HKD 16,547,797,000, compared to HKD 11,201,659,000 in 2023, reflecting an increase of approximately 47.9%[18] - The group’s gross profit from the exploration, extraction, and operation business segment was HKD 7,932,000, down from HKD 20,068,000 in the previous year[12] - The company’s operating expenses for oilfield operations decreased from HKD 55,855,000 to HKD 48,988,000, primarily due to a reduction in production[49] - Administrative expenses were reduced by HKD 4,282,000 to HKD 37,425,000 during the review period[51] Financing and Investments - The company’s financing costs for the six months ended June 30, 2024, were HKD (17,949), down from HKD (25,193) in the same period of 2023[3] - The financing costs amounted to HKD 17,949,000, which included bank borrowing costs and interest on secured loans[54] - The company has entered into a supplemental loan agreement with the ultimate holding company for a loan of USD 22 million, extending the term for three years[33] - The company obtained a secured revolving loan of $22,000,000 from Extended Oil Hong Kong at an interest rate of 4.8%, to be repaid within three years[58] Operational Highlights - The company engaged in related party transactions, purchasing refined oil from the ultimate holding company amounting to HKD 7,479,608,000, a significant increase from HKD 3,561,849,000 in the previous year[31] - The company completed 327 deliveries to 24 self-operated gas stations without any quality disputes in the first half of 2024[41] - The railway distribution segment expanded customer base to 24, with sales volume reaching 400,800 tons, a year-on-year increase of 39.02%[40] - Novus oilfield achieved a cumulative oil sales volume of 2.1293 million tons in the first half of 2024, generating revenue of RMB 15.408 billion, with a loss of RMB 769,600[39] Governance and Compliance - The company has adhered to the corporate governance code, with the exception of certain deviations regarding independent non-executive directors serving over nine years[67] - The audit committee consists of three independent non-executive directors, who have reviewed the company's accounting policies and internal control systems[69] - The company confirmed compliance with the disclosure requirements of the Stock Exchange rules regarding related party transactions[71] - The company is in the process of appointing a new independent non-executive director to comply with governance standards[67] Employee and Management - The total employee cost for the six months ended June 30, 2024, was HKD 35,268,000, a decrease from HKD 37,614,000 for the same period in 2023[64] - The company had a total of 211 employees as of June 30, 2024, compared to 207 employees as of December 31, 2023[64] - The company’s management compensation for the first half of 2024 was HKD 7,476,000, compared to HKD 7,204,000 in the previous year, reflecting an increase of approximately 3.8%[30] Future Outlook - The company plans to maintain a prudent business strategy to effectively manage risks and enhance operational efficiency amid expected moderate global economic recovery[44] - Management highlighted the need to adjust new drilling investment plans to ensure stable oil and gas production amid geopolitical tensions and fluctuating supply-demand relationships[34] - The company is focused on enhancing transparency, accountability, and fairness in its governance practices to maximize shareholder value[67]