致：香港交易及結算所有限公司 公司名稱: 達力普控股有限公司 呈交日期: 2025年9月1日 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 新提交 | | --- | | 狀態: | 本月底法定/註冊股本總額： HKD 2,000,000,000 FF301 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) | 01921 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.1 | HKD | | 2,000,000,000 | | 增加 / 減少 (- ...

Core Insights - Dalipe Holdings (01921) reported a mid-year performance for 2025, with revenue of 1.694 billion RMB, representing a year-on-year growth of 10% [1] - The net loss narrowed significantly to 14.965 million RMB, a reduction of 78.5% compared to the previous year [1] - Basic loss per share was reported at 0.01 RMB [1] Financial Performance - Revenue reached 1.694 billion RMB, showing a 10% increase year-on-year [1] - The net loss decreased to 14.965 million RMB, indicating a substantial improvement in financial performance [1] - Basic loss per share was recorded at 0.01 RMB [1] Strategic Adjustments - The improvement in financial performance is attributed to the continuous optimization and adjustment of product and market structures [1] - The company's competitiveness has been enhanced as a result of these strategic adjustments [1]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) The company reported a 10.0% revenue increase to RMB 1,693.6 million, with gross profit up 22.7% and a significant reduction in loss for the period Financial Highlights (RMB million) | Indicator | Six Months Ended June 30, 2025 (RMB million) | Six Months Ended June 30, 2024 (RMB million) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 1,693.6 | 1,539.5 | 10.0% | | Gross Profit | 152.7 | 124.5 | 22.7% | | Operating Profit/(Loss) | 29.0 | (35.7) | -181.2% | | Loss Before Tax | (12.7) | (77.2) | -83.5% | | Loss for the Period | (15.0) | (69.7) | -78.5% | | Adjusted Net Loss (Non-IFRS) | (8.9) | (55.1) | -83.8% | | Net Loss Margin | (0.9%) | (4.5%) | - | | Adjusted Net Loss Margin (Non-IFRS) | (0.5%) | (3.6%) | - | | Basic Loss Per Share (RMB) | (0.01) | (0.05) | - | | Diluted Loss Per Share (RMB) | (0.01) | (0.05) | - | [Consolidated Financial Statements](index=2&type=section&id=Consolidated%20Financial%20Statements) This section presents the Group's consolidated financial performance and position, highlighting key changes in revenue, profitability, assets, and liabilities over the reporting periods [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the six months ended June 30, 2025, the company's revenue grew 10.0% to RMB 1,693.6 million, gross profit increased 22.7% to RMB 152.7 million, and operating results turned profitable with RMB 29.0 million, significantly narrowing the loss for the period by 78.5% to RMB 15.0 million Consolidated Statement of Profit or Loss and Other Comprehensive Income (RMB thousand) | Indicator | Six Months Ended June 30, 2025 (RMB thousand) | Six Months Ended June 30, 2024 (RMB thousand) | | :--- | :--- | :--- | | Revenue | 1,693,626 | 1,539,454 | | Cost of Sales | (1,540,887) | (1,414,991) | | Gross Profit | 152,739 | 124,463 | | Other Income | 30,386 | 27,324 | | Selling Expenses | (61,437) | (79,169) | | Administrative Expenses | (92,708) | (108,317) | | Operating Profit/(Loss) | 28,980 | (35,699) | | Finance Costs | (41,724) | (41,538) | | Loss Before Tax | (12,744) | (77,237) | | Income Tax | (2,221) | 7,557 | | Loss for the Period Attributable to Equity Holders of the Company | (14,965) | (69,680) | | Basic Loss Per Share (RMB) | (0.01) | (0.05) | | Diluted Loss Per Share (RMB) | (0.01) | (0.05) | - Loss for the period significantly narrowed by **78.5% to RMB 15.0 million**, indicating substantial improvement in financial performance[4](index=4&type=chunk)[84](index=84&type=chunk) [Consolidated Statement of Financial Position](index=3&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total net assets slightly decreased, but net current assets significantly improved from RMB 59.5 million to RMB 311.5 million, with a notable increase in property, plant, and equipment reflecting capital expenditure Consolidated Statement of Financial Position (RMB thousand) | Indicator | As of June 30, 2025 (RMB thousand) | As of December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Non-current Assets | 2,406,735 | 1,967,765 | | Current Assets | 2,333,995 | 2,541,433 | | Current Liabilities | 2,022,456 | 2,481,885 | | Net Current Assets | 311,539 | 59,548 | | Total Assets Less Current Liabilities | 2,718,274 | 2,027,313 | | Non-current Liabilities | 1,413,462 | 712,279 | | Net Assets/Total Equity | 1,304,812 | 1,315,034 | | Trade and Bills Receivables | 1,207,466 | 1,280,584 | | Bank and Cash Balances | 355,485 | 412,136 | | Trade and Bills Payables | 753,571 | 837,921 | | Interest-bearing Borrowings (Current) | 1,127,290 | 1,515,795 | | Interest-bearing Borrowings (Non-current) | 1,395,641 | 696,808 | - Net current assets significantly increased from **RMB 59,548 thousand** as of December 31, 2024, to **RMB 311,539 thousand** as of June 30, 2025[5](index=5&type=chunk) - Property, plant, and equipment increased from **RMB 1,967,581 thousand** as of December 31, 2024, to **RMB 2,406,584 thousand** as of June 30, 2025, reflecting capital investment[5](index=5&type=chunk) [Notes to the Financial Statements](index=4&type=section&id=Notes%20to%20the%20Financial%20Statements) This section provides detailed explanations and disclosures regarding the accounting policies, significant estimates, and specific line items presented in the consolidated financial statements [Company and Basis of Preparation](index=4&type=section&id=Company%20and%20Basis%20of%20Preparation) Dalipu Holdings Limited, incorporated in the Cayman Islands and listed on the HKEX Main Board, primarily develops, manufactures, and sells pipes for oil and gas, new energy, and special seamless steel pipes, with interim financial reports prepared under IAS 34 and reviewed by KPMG - The company's principal activities involve the development, manufacture, and sale of pipes for oil and gas, new energy, and special seamless steel pipes[6](index=6&type=chunk) - The interim financial report is prepared in accordance with International Accounting Standard 34 and has been reviewed by KPMG[7](index=7&type=chunk)[8](index=8&type=chunk) [Changes in Accounting Policies](index=5&type=section&id=Changes%20in%20Accounting%20Policies) The Group adopted amendments to IAS 21, "The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability," during the period, which had no material impact on the interim financial report due to no transactions in non-exchangeable foreign currencies, and no other new standards or interpretations not yet effective were adopted - The Group adopted amendments to IAS 21, which had no material impact on the interim financial report[10](index=10&type=chunk) - The company has not early adopted any new standards or interpretations that are not yet effective[11](index=11&type=chunk) [Revenue and Segment Reporting](index=6&type=section&id=Revenue%20and%20Segment%20Reporting) The Group's revenue primarily derives from the sale of pipes for oil and gas and new energy/special seamless steel pipes, with all revenue recognized upon product delivery to customers; for the six months ended June 30, 2025, total revenue was RMB 1,693.6 million, predominantly from the China market, though overseas market revenue declined - Revenue is recognized when products are shipped to and received at the customer's designated premises[13](index=13&type=chunk) [Revenue Breakdown](index=6&type=section&id=Revenue%20Breakdown) For the six months ended June 30, 2025, sales revenue from oil and gas pipes was RMB 1,078.7 million, and from new energy and special seamless steel pipes was RMB 614.9 million, both showing growth Revenue Breakdown (RMB thousand) | Product Category | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Sales of Oil and Gas Pipes | 1,078,720 | 1,004,396 | | Sales of New Energy and Special Seamless Steel Pipes | 614,906 | 535,058 | | **Total** | **1,693,626** | **1,539,454** | [Segment Reporting](index=6&type=section&id=Segment%20Reporting) The Group has three reportable segments: oil and gas pipes, new energy and special seamless steel pipes, and other products; segment performance is measured by gross profit, with oil and gas pipes grossing RMB 127.5 million and new energy/special seamless steel pipes grossing RMB 25.2 million as of June 30, 2025 - The Group has three reportable segments: oil and gas pipes, new energy and special seamless steel pipes, and other products[17](index=17&type=chunk) Segment Gross Profit (RMB thousand) | Segment | Six Months Ended June 30, 2025 (RMB thousand) | Six Months Ended June 30, 2024 (RMB thousand) | | :--- | :--- | :--- | | Gross Profit from Oil and Gas Pipes | 127,525 | 106,182 | | Gross Profit from New Energy and Special Seamless Steel Pipes | 25,214 | 18,281 | | Gross Profit from Other Products | – | – | | **Total Reportable Segment Gross Profit** | **152,739** | **124,463** | [Geographical Information](index=7&type=section&id=Geographical%20Information) The China market is the Group's primary revenue source, contributing RMB 1,475.5 million as of June 30, 2025, with year-on-year growth, while overseas market revenue declined, particularly in the Middle East and Africa Revenue by Region (RMB thousand) | Region | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | China | 1,475,540 | 1,227,931 | | Overseas: Middle East | 166,034 | 230,549 | | Overseas: Africa | 30,546 | 64,257 | | Overseas: Others | 21,506 | 16,717 | | **Total** | **1,693,626** | **1,539,454** | - Revenue from the China market increased year-on-year, while overseas market revenue, particularly in the Middle East and Africa, decreased[21](index=21&type=chunk) [Loss Before Tax](index=8&type=section&id=Loss%20Before%20Tax) For the six months ended June 30, 2025, the Group's loss before tax significantly narrowed to RMB 12.7 million from RMB 77.2 million in the prior period, with a slight increase in finance costs and a decrease in depreciation expenses and impairment losses on trade and other receivables [Finance Costs](index=8&type=section&id=Finance%20Costs) The Group's finance costs slightly increased by 0.5% to RMB 41.7 million, primarily due to interest expenses on borrowings and the capitalization of new loan costs for the second phase expansion Finance Costs (RMB thousand) | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Interest Expense on Borrowings | 39,574 | 39,835 | | Interest Expense on Lease Liabilities | 113 | 186 | | Others | 2,037 | 1,517 | | **Total** | **41,724** | **41,538** | - Borrowing costs are capitalized at an annual interest rate of **3-4.59%**[22](index=22&type=chunk) [Other Items](index=8&type=section&id=Other%20Items) Depreciation expense for owned property, plant, and equipment decreased from RMB 64.6 million to RMB 59.9 million, impairment losses on trade and other receivables significantly dropped from RMB 8.8 million to RMB 1.8 million, while R&D costs slightly increased Other Items (RMB thousand) | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Depreciation Expense – Owned Property, Plant and Equipment | 59,995 | 64,634 | | Depreciation Expense – Right-of-use Assets | 5,080 | 4,912 | | Impairment Loss on Trade and Other Receivables | 1,778 | 8,801 | | Research and Development Costs | 18,319 | 16,547 | | Cost of Inventories | 1,540,887 | 1,414,991 | - Impairment losses on trade and other receivables significantly decreased from **RMB 8.8 million** to **RMB 1.8 million**[23](index=23&type=chunk) [Income Tax](index=9&type=section&id=Income%20Tax) For the six months ended June 30, 2025, the Group incurred an income tax expense of RMB 2.2 million, compared to an income tax credit of RMB 7.6 million in the prior period, primarily due to profits generated by certain subsidiaries, with varying tax rates applied across regions and a 15% preferential tax rate for high-tech enterprises in China Income Tax (RMB thousand) | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Current Tax | – | 2,153 | | Deferred Tax | 2,221 | (9,710) | | **Total** | **2,221** | **(7,557)** | - Subsidiaries in China (excluding Hong Kong) are subject to a **25%** corporate income tax rate, with high-tech enterprises enjoying a **15%** preferential tax rate[26](index=26&type=chunk) - No income tax provision was made for the Saudi Arabian subsidiary as it did not generate taxable profits[26](index=26&type=chunk) [Loss Per Share](index=10&type=section&id=Loss%20Per%20Share) For the six months ended June 30, 2025, both basic and diluted loss per share significantly narrowed to RMB 0.01 from RMB 0.05 in the prior period, with diluted loss not considering the impact of share options and share award schemes due to their anti-dilutive effect Loss Per Share (RMB) | Indicator | 2025 (RMB) | 2024 (RMB) | | :--- | :--- | :--- | | Basic Loss Per Share | (0.01) | (0.05) | | Diluted Loss Per Share | (0.01) | (0.05) | - Basic loss per share is calculated based on a loss attributable to equity holders of the company of **RMB 14,965,000** and a weighted average of **1,466,683,000** ordinary shares outstanding[27](index=27&type=chunk) - Diluted loss per share does not consider the impact of outstanding share options and share award schemes, as they have an anti-dilutive effect[29](index=29&type=chunk) [Trade and Bills Receivables](index=10&type=section&id=Trade%20and%20Bills%20Receivables) As of June 30, 2025, total trade receivables increased to RMB 794.5 million, while bills receivables significantly decreased to RMB 419.6 million, totaling RMB 1,207.5 million for trade and bills receivables, all expected to be recovered within one year, with some pledged as collateral for borrowings Trade and Bills Receivables (RMB thousand) | Item | As of June 30, 2025 (RMB thousand) | As of December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Receivables | 794,481 | 466,922 | | Less: Loss Allowance | (6,663) | (5,977) | | Bills Receivables | 419,648 | 819,639 | | **Total** | **1,207,466** | **1,280,584** | - Trade receivables are generally due immediately and up to **90 days** after the invoice date[32](index=32&type=chunk) [Aging Analysis](index=11&type=section&id=Aging%20Analysis) As of June 30, 2025, trade receivables within 1 month and 1 to 3 months accounted for the largest portions, at RMB 298.9 million and RMB 318.4 million respectively, with an increase in receivables aged over 6 months Trade Receivables Aging Analysis (RMB thousand) | Aging | As of June 30, 2025 (RMB thousand) | As of December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Within 1 Month | 298,906 | 221,242 | | 1 to 3 Months | 318,424 | 195,637 | | 3 to 6 Months | 154,932 | 41,025 | | Over 6 Months | 15,556 | 3,041 | | **Total** | **787,818** | **460,945** | [Transferred Financial Assets](index=11&type=section&id=Transferred%20Financial%20Assets) The Group has discounted or endorsed some bank acceptance bills to settle payables and derecognized the related bills receivables, having transferred most risks and rewards; as of June 30, 2025, bank and trade acceptance bills with recourse not derecognized totaled RMB 219.5 million - The Group has derecognized certain discounted or endorsed bills receivables, as substantially all the risks and rewards of ownership have been transferred[34](index=34&type=chunk) Transferred Financial Assets (RMB thousand) | Item | As of June 30, 2025 (RMB thousand) | As of December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Bank Acceptance Bills (with recourse) | 160,771 | 407,627 | | Trade Acceptance Bills (with recourse) | 58,768 | 144,950 | | **Total** | **219,539** | **552,577** | [Trade and Bills Payables](index=12&type=section&id=Trade%20and%20Bills%20Payables) As of June 30, 2025, total trade and bills payables amounted to RMB 753.6 million, a decrease from RMB 837.9 million as of December 31, 2024, with all amounts expected to be settled within one year Trade and Bills Payables (RMB thousand) | Item | As of June 30, 2025 (RMB thousand) | As of December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Trade Payables | 730,563 | 819,081 | | Bills Payables | 23,008 | 18,840 | | **Total** | **753,571** | **837,921** | Trade and Bills Payables Aging Analysis (RMB thousand) | Aging | As of June 30, 2025 (RMB thousand) | As of December 31, 2024 (RMB thousand) | | :--- | :--- | :--- | | Within 1 Month | 385,587 | 615,665 | | 1 to 3 Months | 303,092 | 151,682 | | 3 to 6 Months | 34,590 | 36,548 | | Over 6 Months | 30,302 | 34,026 | | **Total** | **753,571** | **837,921** | [Dividends](index=12&type=section&id=Dividends) The Board recommends no interim dividend for the six months ended June 30, 2025, with the final dividend for the previous financial year being zero HKD per ordinary share, compared to HKD 0.04 per share in the corresponding period of 2024 - The Board recommends no interim dividend for the six months ended June 30, 2025[38](index=38&type=chunk) Dividends (RMB thousand) | Item | 2025 (RMB thousand) | 2024 (RMB thousand) | | :--- | :--- | :--- | | Final Dividend for Previous Financial Year (per ordinary share) | Zero HKD | 0.04 HKD (54,740) | [Management Discussion and Analysis](index=13&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business performance, industry trends, strategic initiatives, and financial condition, offering insights into operational highlights and future outlook [Business Review](index=13&type=section&id=Business%20Review) The Group specializes in R&D, production, and sales of high-end energy pipes and special seamless steel pipes for oil, gas, and new energy sectors, continuously enhancing core competitiveness through R&D innovation, intelligent manufacturing, and ESG practices, with significant progress in its Hebei and Saudi Dammam base constructions during the reporting period [Principal Business and Operating Model](index=13&type=section&id=Principal%20Business%20and%20Operating%20Model) The Group, a national high-tech enterprise, focuses on R&D, production, technical services, and sales of high-end energy and special seamless steel pipes for oil, gas, shale gas, and new energy development, primarily operating on a "production-to-order" and direct sales model, expanding non-API specialized products through differentiation and customization - The Group's principal business is the R&D, production, technical services, and sales of high-end energy pipes and special seamless steel pipes for oil, natural gas, shale gas, and new energy sectors[40](index=40&type=chunk) - The operating model is primarily "production-to-order," with direct sales as the main sales model, actively expanding the scale of non-API specialized products[41](index=41&type=chunk) - New intelligent oil pipe production lines have been completed and are gradually commencing operation, enhancing product market competitiveness[41](index=41&type=chunk) [Industry Overview](index=13&type=section&id=Industry%20Overview) In H1 2025, the global energy pipe industry underwent structural adjustments, with temporary supply-demand imbalances and intensified competition for low-end products; the Middle East saw surging demand for seawater corrosion-resistant pipes, Southeast Asia for large-diameter steel pipes, and Europe/America for new energy supporting pipes, while domestic output remained resilient despite low average profit margins, with growing demand for high-end, specialized products, and a consensus on technological upgrades and green, low-carbon development - The global energy pipe industry experienced temporary supply-demand imbalances, with intensified homogeneous competition for low-end products[43](index=43&type=chunk) - The Middle East saw a surge in procurement of seawater corrosion-resistant pipes, Southeast Asia experienced increased demand for large-diameter steel pipes, and the European and American markets maintained growth in demand for new energy supporting pipes[44](index=44&type=chunk) - Domestic seamless steel pipe production increased by **3.2%** year-on-year, but the industry's average profit margin remained low, with growing demand for high-end and specialized products[46](index=46&type=chunk)[47](index=47&type=chunk) - Technological upgrades focus on developing high-value-added, high-corrosion-resistant products, intelligent manufacturing and digital transformation are core directions for industry upgrading, and green, low-carbon development has become an industry consensus[49](index=49&type=chunk)[50](index=50&type=chunk)[51](index=51&type=chunk) [Core Competitiveness Analysis](index=16&type=section&id=Core%20Competitiveness%20Analysis) The Group builds core competitiveness around technology and products, intelligent manufacturing, ESG, and talent development, with unique leading product sales surging over 300%, intelligent production lines achieving full-process digital management and unmanned operations, an A-grade ESG rating, and certifications for carbon management and green supply chain, while strengthening talent cultivation to support new production line construction - Sales of unique leading products surged by over **300%** year-on-year, with continuous optimization of product structure towards high-value-added and high-end directions[52](index=52&type=chunk) - New high-end oil drilling and energy equipment pipe production lines extensively apply digital technology and intelligent equipment, achieving digital management, intelligent control, and high-efficiency operation throughout the production process[53](index=53&type=chunk) - Achieved Huazheng ESG rating A and Wind ESG rating A, and passed on-site certification audits for both "Carbon Management System" and "Green Supply Chain Management System"[56](index=56&type=chunk) - Talent development is conducted with a focus on training-and-combat integration, combined with the integrated management platform and new production line projects, while ensuring human resource allocation[58](index=58&type=chunk)[59](index=59&type=chunk) [Progress of Core Production Base Construction](index=20&type=section&id=Progress%20of%20Core%20Production%20Base%20Construction) The new production line project at China's Hebei base is steadily advancing, with two intelligent oil pipe production lines and heat treatment lines in equipment debugging and trial production, and hot rolling and upsetting lines expected to commence production in Q3, significantly enhancing the intelligence and efficiency of oil pipe production; the Saudi Dammam base, a strategic international hub, is progressing smoothly, integrated into the Saudi Ministry of Energy's localization platform, and has appointed an experienced executive director - Two intelligent oil pipe production lines and heat treatment lines at the China Hebei base are in the equipment debugging and trial production phase, with the hot rolling line expected to commence production in the third quarter[60](index=60&type=chunk) - The new intelligent oil pipe production line achieves full-process intelligent manufacturing and digital management, increasing production efficiency by **35%** and reducing labor allocation by **30%**[60](index=60&type=chunk)[63](index=63&type=chunk) - The Saudi Dammam base project is progressing smoothly, has been integrated into the Saudi Ministry of Energy's localization platform, and an executive director with extensive local Saudi experience has been appointed[61](index=61&type=chunk) [Outlook](index=21&type=section&id=Outlook) The Group anticipates structural changes in the global energy equipment industry, with differentiated international market opportunities and growing domestic demand for special pipes driven by energy security strategies; the company will leverage its core strengths in technology R&D, industrial chain layout, and international foundation to focus on product structure upgrading, market expansion, operational efficiency optimization, and green and global synergy, reinforcing strategic support through technological innovation, digital empowerment, talent pipeline development, and resource integration to achieve sustainable long-term returns [Industry Environment and Market Trends](index=21&type=section&id=Industry%20Environment%20and%20Market%20Trends) The global energy equipment industry faces structural changes, with oil and gas development and new energy infrastructure in the Middle East driving demand for high-end products, and infrastructure projects in Southeast Asia creating incremental opportunities; the domestic market, driven by energy security strategies, sees rapid development in shale gas, offshore oil and gas, and hydrogen energy, generating rigid demand for special pipes, while technological innovation, intelligent manufacturing, and green transformation reshape the industry's competitive landscape, requiring companies to balance technological upgrades with cost control - Deepening oil and gas development and accelerating new energy infrastructure in the Middle East will continue to drive demand for high-end products such as high-grade oil casing[62](index=62&type=chunk) - The domestic market, driven by energy security strategies, sees rapid development in shale gas, offshore oil and gas exploration, and the hydrogen energy industry, creating rigid demand for special pipes with corrosion resistance and high-pressure tolerance[62](index=62&type=chunk) - Technological innovation, intelligent manufacturing, and green transformation are reshaping the industry's competitive landscape, requiring enterprises to strike a balance between technological upgrades and cost control[64](index=64&type=chunk) [Company Strategic Positioning and Competitive Advantages](index=22&type=section&id=Company%20Strategic%20Positioning%20and%20Competitive%20Advantages) The Group leverages three core advantages: as a national high-tech enterprise, it has achieved breakthroughs in unique products like sulfur-resistant casing and cutting-edge technologies; it possesses full-chain cost control capabilities through lean operations enabling flexible conversion between mass and customized production; and the establishment of the Saudi Dammam production base, coupled with the synergistic effect of the Hong Kong capital platform, provides a solid foundation for its globalization strategy - In technology R&D, the company has achieved mass supply of unique products such as sulfur-resistant casing and economic special connections, and made breakthrough progress in cutting-edge technologies[66](index=66&type=chunk) - In industrial chain layout, the company achieves flexible conversion between mass and customized production through a lean operation system, demonstrating strong full-chain cost control capabilities[66](index=66&type=chunk) - In internationalization, the establishment of the Saudi Dammam production base and breakthroughs in Middle East market access, coupled with the synergistic effect of the Hong Kong capital platform, provide a solid foundation for the globalization strategy[66](index=66&type=chunk) [Core Operating Strategies and Implementation Paths](index=22&type=section&id=Core%20Operating%20Strategies%20and%20Implementation%20Paths) In H2 2025, the Group will focus on product structure upgrading and technology reserves, increasing the proportion of high-value-added products and advancing hydrogen pipeline industrialization; deepen market expansion, targeting domestic shale gas and offshore oil and gas markets, and ensuring the Saudi Dammam base's international production; comprehensively optimize operational efficiency through a digital management platform and cost reduction initiatives to achieve profit targets; and accelerate green and global dual-track synergy, applying green power substitution technologies and deepening resource linkage between the Middle East base and the Hong Kong capital platform - Product structure upgrading and technology reserves: increase the proportion of high-value-added products such as sulfur/hydrogen/CO2 corrosion-resistant pipes, and promote the industrialization of hydrogen pipeline pipes[65](index=65&type=chunk) - Deepen market expansion: domestically focus on shale gas and offshore oil and gas markets, and internationally fully ensure the timely commissioning of the Saudi Dammam base[67](index=67&type=chunk) - Comprehensive optimization of operational efficiency: integrate data through a digital management platform, shorten manufacturing cycles, and focus on process innovation, human efficiency improvement, and intensive energy management[68](index=68&type=chunk) - Green and globalization dual-track synergy: accelerate the application of green power substitution technologies and deepen resource linkage between the Middle East base and the Hong Kong capital platform[69](index=69&type=chunk) [Strategic Support System](index=23&type=section&id=Strategic%20Support%20System) To achieve strategic goals, the Group will strengthen its technology innovation and commercialization mechanism, aligning R&D resources with market demand; deepen its digital empowerment system to achieve optimized production scheduling, quality traceability, and information-based customer service; build a talent pipeline to meet new production line needs and improve incentive mechanisms; and enhance resource integration capabilities through external cooperation and internal capital optimization - Technology innovation and commercialization mechanism: drive R&D resources towards market demand, breaking through production line extreme specifications and unit process upgrade bottlenecks[70](index=70&type=chunk) - Digital empowerment system: deepen the application of the management platform to achieve full-process information integration for production scheduling optimization, quality traceability, and customer service[70](index=70&type=chunk) - Talent pipeline development: align with new production line requirements, organize professional technical training and on-the-job practice, and improve talent selection and performance incentive mechanisms[70](index=70&type=chunk) - Resource integration capability: form synergistic effects through external cooperation and internal capital optimization[70](index=70&type=chunk) [Development Outlook](index=24&type=section&id=Development%20Outlook) In H2 2025, the Group will leverage technological differentiation, lean operations, and global layout as core drivers, breaking through homogeneous competition with high-end products, building dual barriers in cost and delivery through intelligent production lines and the Middle East strategic base, committed to achieving technological leadership and value creation in the energy equipment sector, and generating sustainable long-term returns for shareholders - Core drivers include technological differentiation, lean operations, and global layout[71](index=71&type=chunk) - Break through homogeneous competition with high-end products, building dual barriers in cost and delivery through intelligent production lines and the Middle East strategic base[71](index=71&type=chunk) - Steadfastly advance technological leadership and value creation in the energy equipment sector, generating sustainable long-term returns for shareholders[71](index=71&type=chunk) [Financial Review](index=24&type=section&id=Financial%20Review) This section provides a detailed analysis of the Group's financial performance, including revenue, costs, profitability, and financial position, highlighting key drivers and changes during the reporting period [Revenue](index=24&type=section&id=Revenue) The Group's total revenue for the reporting period was RMB 1,693.6 million, a 10.0% year-on-year increase, primarily due to sales volume growth, with oil and gas pipe revenue up 7.4% and new energy/special seamless steel pipe revenue up 14.9%; domestic sales revenue grew 20.2%, while international sales revenue decreased 30.0% due to geopolitical and other factors Revenue by Product Category (RMB million) | Product Category | 2025 Sales (RMB million) | 2024 Sales (RMB million) | Change (%) | | :--- | :--- | :--- | :--- | | Oil and Gas Pipes | 1,078.7 | 1,004.4 | 7.4% | | New Energy and Special Seamless Steel Pipes | 614.9 | 535.1 | 14.9% | | **Total** | **1,693.6** | **1,539.5** | **10.0%** | Revenue by Sales Region (RMB million) | Sales Region | 2025 Sales (RMB million) | 2024 Sales (RMB million) | Change (%) | | :--- | :--- | :--- | :--- | | Domestic Sales | 1,475.5 | 1,228.0 | 20.2% | | International Sales | 218.1 | 311.5 | (30.0%) | | **Total** | **1,693.6** | **1,539.5** | **10.0%** | - International sales decreased by **30.0%**, primarily due to negative factors such as geopolitical issues, economic policies, and fluctuations in regional energy exploration investments[76](index=76&type=chunk) [Cost of Sales](index=25&type=section&id=Cost%20of%20Sales) Cost of sales for the reporting period was RMB 1,540.9 million, an 8.9% increase year-on-year, primarily driven by higher sales volume and optimized product structure - Cost of sales was **RMB 1,540.9 million**, a year-on-year increase of **8.9%**, primarily due to increased sales volume and optimized product structure[77](index=77&type=chunk) [Gross Profit and Gross Profit Margin](index=25&type=section&id=Gross%20Profit%20and%20Gross%20Profit%20Margin) The Group's total gross profit was RMB 152.7 million, an increase of RMB 28.2 million year-on-year, with the overall gross profit margin rising 0.9 percentage points to 9.0% from 8.1% in the prior period, primarily due to optimized product sales structure and a higher proportion of high-value-added products Gross Profit and Gross Profit Margin (RMB million) | Indicator | 2025 (RMB million) | 2024 (RMB million) | Change (RMB million) | | :--- | :--- | :--- | :--- | | Total Gross Profit | 152.7 | 124.5 | 28.2 | | Gross Profit Margin | 9.0% | 8.1% | +0.9 percentage points | - The increase in gross profit margin was primarily due to optimized product sales structure and a higher proportion of high-value-added products[78](index=78&type=chunk) [Other Income](index=25&type=section&id=Other%20Income) Other income for the reporting period was RMB 30.4 million, an increase of RMB 3.1 million year-on-year, primarily due to higher VAT and other tax refunds - Other income increased by **RMB 3.1 million** to **RMB 30.4 million**, primarily due to increased VAT and other tax refunds[79](index=79&type=chunk) [Selling Expenses](index=26&type=section&id=Selling%20Expenses) Selling expenses were RMB 61.4 million, a decrease of approximately 22.5% year-on-year, primarily due to reduced sea freight, port charges, and commissions resulting from lower overseas sales volume - Selling expenses decreased by approximately **22.5%** to **RMB 61.4 million**, primarily due to reduced overseas sales volume[80](index=80&type=chunk) [Administrative Expenses](index=26&type=section&id=Administrative%20Expenses) Administrative expenses were RMB 92.7 million, a decrease of approximately 14.4% year-on-year, primarily due to reduced bad debts, staff costs, and equity-settled share-based payment expenses - Administrative expenses decreased by approximately **14.4%** to **RMB 92.7 million**, primarily due to reduced bad debts, staff costs, and share-based payment expenses[81](index=81&type=chunk) [Finance Costs](index=26&type=section&id=Finance%20Costs) The Group's finance costs were RMB 41.7 million, a slight increase of 0.5% year-on-year, primarily due to stable loan interest rates and the capitalization of new loan costs for the second phase expansion - Finance costs slightly increased by **0.5%** to **RMB 41.7 million**, primarily due to stable loan interest rates and the capitalization of new loan costs for the second phase expansion[82](index=82&type=chunk) [Income Tax](index=26&type=section&id=Income%20Tax) Income tax expense for the reporting period was RMB 2.2 million, compared to an income tax credit of RMB 7.6 million in the prior period, primarily due to profits generated by the Group's subsidiaries - Income tax expense was **RMB 2.2 million**, compared to an income tax credit of **RMB 7.6 million** in the prior period, primarily due to profits generated by subsidiaries[83](index=83&type=chunk) [Loss for the Period](index=26&type=section&id=Loss%20for%20the%20Period) The Group's loss for the period significantly narrowed by 78.5% to RMB 15.0 million, from a loss of RMB 69.7 million in the prior period, with improved financial performance primarily attributed to continuous optimization of product and market structures and enhanced competitiveness - Loss for the period significantly narrowed by **78.5% to RMB 15.0 million**[84](index=84&type=chunk) - Improved financial performance is primarily due to continuous optimization and adjustment of product and market structures, and enhanced competitiveness[84](index=84&type=chunk) [Non-IFRS Financial Measures](index=26&type=section&id=Non-IFRS%20Financial%20Measures) The company uses adjusted net loss and adjusted net loss margin as non-IFRS financial measures to supplement the consolidated financial statements presented under IFRS, which aid in comparing operating performance across periods and companies and provide additional information to investors, but are not substitutes for IFRS operating results or financial position - Adjusted net loss and adjusted net loss margin are used as additional non-IFRS financial measures[85](index=85&type=chunk) - These measures aid in comparing operating performance but are not substitutes for IFRS operating results or financial position[86](index=86&type=chunk) Non-IFRS Financial Measures (RMB million) | Indicator | 2025 (RMB million) | 2024 (RMB million) | | :--- | :--- | :--- | | Loss for the Period | (15.0) | (69.7) | | Add: Equity-settled Share-based Payment Expenses | 6.1 | 14.6 | | **Adjusted Net Loss (Non-IFRS)** | **(8.9)** | **(55.1)** | [Capital Expenditure](index=27&type=section&id=Capital%20Expenditure) During the reporting period, the Group's investment in property, plant, and equipment was RMB 505.8 million, a significant increase from RMB 158.4 million in the prior period, primarily due to increased expenditures for the second phase expansion - Investment in property, plant, and equipment was **RMB 505.8 million**, a significant increase from **RMB 158.4 million** in the prior period[88](index=88&type=chunk) - The increase in capital expenditure was primarily due to increased expenses for the second phase expansion[88](index=88&type=chunk) [Liquidity, Financial Resources and Capital Structure](index=27&type=section&id=Liquidity%2C%20Financial%20Resources%20and%20Capital%20Structure) As of June 30, 2025, bank and cash balances were RMB 355.5 million, with total interest-bearing borrowings at RMB 2,522.9 million, and an increased proportion of long-term borrowings; the debt-to-equity ratio rose to 166.1%, and the current ratio increased to 1.15, indicating improved liquidity Liquidity, Financial Resources and Capital Structure (RMB million) | Indicator | As of June 30, 2025 (RMB million) | As of December 31, 2024 (RMB million) | | :--- | :--- | :--- | | Bank and Cash Balances | 355.5 | 412.1 | | Total Interest-bearing Borrowings | 2,522.9 | 2,212.6 | | Long-term Borrowings | 1,395.6 | 696.8 | | Short-term Borrowings | 1,127.3 | 1,515.8 | | Debt-to-Equity Ratio | 166.1% | 136.9% | | Current Ratio | 1.15 | 1.02 | - The debt-to-equity ratio increased by **29.2 percentage points** to **166.1%**, primarily due to increased borrowings and a reduction in equity from losses[90](index=90&type=chunk) - The current ratio increased from **1.02** as of December 31, 2024, to **1.15** as of June 30, 2025[91](index=91&type=chunk) [Employees and Remuneration Policy](index=28&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the Group had 1,934 employees, with total staff costs of RMB 131.5 million; the company prioritizes employee training, offers competitive remuneration, and has adopted share option and share award schemes to incentivize staff Employees and Staff Costs (RMB million) | Indicator | June 30, 2025 | June 30, 2024 | | :--- | :--- | :--- | | Number of Employees | 1,934 | 1,774 | | Total Staff Costs (RMB million) | 131.5 | 119.1 | - The company offers competitive remuneration packages and has adopted share option schemes and share award schemes to incentivize employees[92](index=92&type=chunk) [Pledge of Assets](index=28&type=section&id=Pledge%20of%20Assets) As of June 30, 2025, the Group's property, plant, and equipment with a carrying amount of RMB 1,104.4 million, and other movable assets of RMB 638.5 million, have been pledged as collateral for bank borrowings Pledged Assets (RMB million) | Pledged Assets | As of June 30, 2025 (RMB million) | As of December 31, 2024 (RMB million) | | :--- | :--- | :--- | | Property, Plant and Equipment | 1,104.4 | 1,131.8 | | Other Movable Assets | 638.5 | 755.9 | [Foreign Exchange Risk](index=28&type=section&id=Foreign%20Exchange%20Risk) The Group's operations are primarily in China and denominated in RMB; with developing export business, the company uses forward foreign exchange contracts to mitigate currency fluctuation risks, expecting no significant adverse impact from exchange rate changes but will closely monitor and take necessary measures - The Group's operations are primarily conducted in China and denominated in RMB, with foreign exchange risk mitigated through forward foreign exchange contracts[94](index=94&type=chunk) - Expected exchange rate changes will not have a significant adverse impact on the Group, but will be closely monitored with appropriate measures taken when necessary[94](index=94&type=chunk) [Other Information](index=29&type=section&id=Other%20Information) This section covers additional disclosures including material investments, contingent liabilities, dividends, securities transactions, post-reporting period events, corporate governance, and board composition [Material Investments and Acquisitions/Disposals](index=29&type=section&id=Material%20Investments%20and%20Acquisitions%2FDisposals) During the reporting period, the Group held no material investments and made no significant acquisitions or disposals of subsidiaries, associates, or joint ventures; apart from the ongoing second phase expansion, there are no specific future plans for material investments or capital assets as of the announcement date - During the reporting period, the Group held no material investments and made no significant acquisitions or disposals[95](index=95&type=chunk) - Apart from the ongoing second phase expansion, there are no specific future plans for material investments or capital assets[95](index=95&type=chunk) [Contingent Liabilities](index=29&type=section&id=Contingent%20Liabilities) As of June 30, 2025, the Group had no contingent liabilities - As of June 30, 2025, the Group had no contingent liabilities[96](index=96&type=chunk) [Interim Dividend](index=29&type=section&id=Interim%20Dividend) The Board does not recommend the payment of an interim dividend for the reporting period - The Board does not recommend the payment of an interim dividend for the reporting period[97](index=97&type=chunk) [Purchase, Sale or Redemption of Listed Securities](index=29&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Listed%20Securities) During the reporting period, the trustee of the share award scheme purchased shares to fulfill share awards; otherwise, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities - The trustee of the share award scheme purchased shares to fulfill share awards[98](index=98&type=chunk) - Other than the above, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[98](index=98&type=chunk) [Events After Reporting Period](index=29&type=section&id=Events%20After%20Reporting%20Period) No material events occurred after the end of the reporting period and up to the date of this announcement - No material events occurred after the end of the reporting period and up to the date of this announcement[99](index=99&type=chunk) [Corporate Governance Practices](index=29&type=section&id=Corporate%20Governance%20Practices) During the reporting period, the company applied and complied with all provisions contained in Part 2 of the Corporate Governance Code - During the reporting period, the company applied and complied with all provisions contained in Part 2 of the Corporate Governance Code[100](index=100&type=chunk) [Standard Code for Securities Transactions by Directors](index=29&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The company has adopted a code of conduct for directors' securities transactions, with terms no less stringent than those required by the Model Code, and all directors have confirmed compliance throughout the reporting period - The company has adopted a code of conduct for directors' securities transactions, with terms no less stringent than those required by the Model Code[101](index=101&type=chunk) - All directors have confirmed compliance with the required standards set out in the Model Code and the company's relevant code of conduct throughout the reporting period[101](index=101&type=chunk) [Review of Interim Results](index=30&type=section&id=Review%20of%20Interim%20Results) The company's Audit and Risk Management Committee reviewed the Group's accounting principles and practices with management, discussing audit, internal control, risk management, and financial reporting matters, including the unaudited interim financial statements, with no disagreements, and the external auditor reviewed the interim financial report in accordance with Hong Kong Standard on Review Engagements 2410 - The Audit and Risk Management Committee has reviewed the interim financial statements with no disagreements[102](index=102&type=chunk) - The external auditor has reviewed the interim financial report in accordance with Hong Kong Standard on Review Engagements 2410[102](index=102&type=chunk) [Glossary](index=30&type=section&id=Glossary) This section provides definitions for key terms and abbreviations used in the report, including company, Group, Board, Corporate Governance Code, Listing Rules, Share Award Scheme, Share Option Scheme, Second Phase Expansion, and RMB - Definitions for key terms and abbreviations used in the report are provided[102](index=102&type=chunk)[103](index=103&type=chunk) [Board of Directors](index=31&type=section&id=Board%20of%20Directors) As of the announcement date, the Board of Directors includes executive directors Mr. Meng Fanyong (Chairman), Mr. Zhang Hongyao, Ms. Xu Wenhong, Mr. Meng Yuxiang, and Mr. Al Gosaibi, Saud Yousif M; non-executive director Mr. Yin Zhixiang; and independent non-executive directors Mr. Guo Kaiqi, Mr. Wang Zhirong, and Mr. Cheng Haitao - The Board of Directors comprises executive directors, a non-executive director, and independent non-executive directors[105](index=105&type=chunk) - Mr. Al Gosaibi, Saud Yousif M is a newly appointed executive director[105](index=105&type=chunk)

Group 1 - The company, Dalipe Holdings (01921.HK), will hold a board meeting on August 29, 2025, to review and approve the interim results for the six months ending June 30, 2025, and to announce any interim dividend if applicable [1]

達力普控股有限公司（「本公司」）董事會（「董事會」）宣 佈，本 公 司 將 於2025年8月 29日（星 期 五）舉 行 董 事 會 會 議，以 考 慮 及 批 准（其 中 包 括）刊發本公司及其附屬 公司截至2025年6月30日 止 半 年 度 之 未 經 審 核 財 務 業 績，及 考 慮 宣 派 中 期 股 息 之建議（如 有）。 承董事會命 Dalipal Holdings Limited 達力普控股有限公司 主席兼執行董事 孟凡勇 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。 Dalipal Holdings Limited 達力普控股有限公司 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 份 代 號：1921） 董事會召開日期 香 港，2025年8月19日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 孟 凡 勇 先 生、張 紅 耀 先 生、徐 文 ...

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。 達 力 普 專 用 管 作 為 本 集 團 現 有 核 心 生 產 基 地，目 前 所 有 收 入 均 源 自 達 力 普 專 用 管；國 內 銷 售 由 達 力 普 專 用 管 直 接 銷 售，外 銷 則 經 由 一 家 香 港 子 公 司 轉 售 至 世 界 各 地。而2025年上半年達力普專用管盈利部分抵消了本集團虧損（如 沙 特 項 目 部 分 前 期 投 入 等 開 支），使 本 集 團 綜 合 虧 損 大 幅 減 少，同 比 收 窄 超 過70%。 因 此 董 事 會 認 為，子 公 司 達 力 普 專 用 管 的 盈 利 能 力 根 本 性 改 善 了 集 團 整 體 財 務 表 現。 – 1 – 由於本公司仍在最終確定本集團2025年6月30日 止 六 個 月 的 業 績，本 公 告 所 包 含的資料僅基於對本集團2025上半年未經 ...

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7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: 達力普控股有限公司 呈交日期: 2025年8月4日 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) | 01921 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.1 HKD | | 2,000,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.1 HKD | | 2,000,000,000 | 本月底法定/註冊股本總額： HKD 2,000 ...

2025年上半年本集团亏损主要原因如下：沙特项目前期投入：本集团积极推进沙特达曼生产基地项目的 深度落地，包括产能前期建设筹备、本地化合规等工作；沙特项目预期对本集团中长期收益产生非常正 面影响，但影响了一定当期收益。行业竞争比较激烈：国内能源装备行业转型变革，供需关系仍处于周 期性调整阶段，行业仍处于竞争比较激烈状态，行业整体利润空间受限，导致了达力普专用管经营利润 偏低。随着本集团在中国沧州新建智能生产线的逐步投入量产和对产品结构、市场结构的持续优化调 整，本集团竞争力将会继续提升，董事会对本集团未来充满信心。 本文源自智通财经网 智通财经获悉，达力普控股(01921)涨超3%，截至发稿，涨3.36%，报5.54港元，成交额1763.33万港 元。 消息面上，8月1日，达力普控股发布公告，预期本集团于截至2025年6月30日止(报告期内)6个月净亏损 同比大幅收窄超过70%(截至2024年6月30日止6个月未经审核净亏损为人民币6980万元)；上半年，本集 团营运主体全资子公司达力普专用管有限公司(达力普专用管)大力调整产品结构带来运营优势，已取得 扭亏为盈经营成果。 ...

Core Viewpoint - Dali Pu Holdings (01921) expects a significant reduction in net loss for the six months ending June 30, 2025, with a decrease of over 70% compared to the previous year, driven by operational improvements and product restructuring [1] Company Summary - As of the latest report, Dali Pu Holdings' stock rose by 3.36% to HKD 5.54, with a trading volume of HKD 17.63 million [1] - The company reported an unaudited net loss of RMB 69.8 million for the six months ending June 30, 2024 [1] - The operational subsidiary, Dali Pu Special Pipe Co., Ltd., has successfully turned profitable due to significant adjustments in product structure [1] Industry Summary - The primary reasons for the expected loss in the first half of 2025 include initial investments in the Saudi project, which is anticipated to have a positive long-term impact on the company's revenue [1] - The domestic energy equipment industry is undergoing transformation, with supply and demand in a cyclical adjustment phase, leading to intense competition and limited profit margins [1] - The company is optimistic about enhancing its competitiveness through the gradual production ramp-up of a new smart production line in Cangzhou, China, and ongoing optimization of product and market structures [1]

智通财经APP获悉，达力普控股(01921)涨超3%，截至发稿，涨3.36%，报5.54港元，成交额1763.33万港 元。 消息面上，8月1日，达力普控股发布公告，预期本集团于截至2025年6月30日止(报告期内)6个月净亏损 同比大幅收窄超过70%(截至2024年6月30日止6个月未经审核净亏损为人民币6980万元)；上半年，本集 团营运主体全资子公司达力普专用管有限公司(达力普专用管)大力调整产品结构带来运营优势，已取得 扭亏为盈经营成果。 2025年上半年本集团亏损主要原因如下：沙特项目前期投入：本集团积极推进沙特达曼生产基地项目的 深度落地，包括产能前期建设筹备、本地化合规等工作；沙特项目预期对本集团中长期收益产生非常正 面影响，但影响了一定当期收益。行业竞争比较激烈：国内能源装备行业转型变革，供需关系仍处于周 期性调整阶段，行业仍处于竞争比较激烈状态，行业整体利润空间受限，导致了达力普专用管经营利润 偏低。随着本集团在中国沧州新建智能生产线的逐步投入量产和对产品结构、市场结构的持续优化调 整，本集团竞争力将会继续提升，董事会对本集团未来充满信心。 ...