Company Overview - Zhujiang Steel Pipe Holdings Limited is a major manufacturer and exporter of longitudinal welded pipes in China, listed on the Hong Kong Stock Exchange since 2010 [2] - The company is headquartered in Panyu, Guangzhou, with production bases in Zhuhai and Lianyungang, and has multiple offices in Hong Kong, Yunfu, and Nanjing [2] - Zhujiang Steel Pipe has an annual production capacity of 1.8 million tons, with various types of welded pipe production lines [2] Product Range - The company produces a wide range of welded pipes, including large-diameter double-sided submerged arc welded pipes (SAWL), high-frequency welded pipes (HFW), spiral submerged arc welded pipes (SAWH), and corrosion-resistant alloy (CRA) lined pipes [2][3] - Products meet various international standards such as API, ASTM, ISO, and EN, and are used in sectors like oil and gas pipelines, urban gas, and construction [3] Financial Performance - As of December 31, 2024, Zhujiang Steel Pipe reported total revenue of 2.94 billion yuan, a year-on-year increase of 10.9%, and a net profit attributable to shareholders of 213 million yuan, up 15.72% [1] - The company's gross margin stands at 17.6%, with a debt-to-asset ratio of 80.95% [1] Market Position - Zhujiang Steel Pipe has a price-to-earnings (P/E) ratio of 0.83, ranking first in its industry, while the average P/E ratio for the oil and gas sector is -3.17 [1]

(incorporated in the Cayman Islands with limited liability) (Stock Code: 1938) NOTIFICATION LETTER 通知信函 CHU KONG PETROLEUM AND NATURAL GAS STEEL PIPE HOLDINGS LIMITED 珠 江 石 油 天 然 氣 鋼 管 控 股 有 限 公 司 Dear Non-registered Shareholder(1), 28 April 2025 Please note that by completing and returning the Request Form to request for the printed version of the Current Corporate Communications, you will expressly indicate that your instruction to receive printed version will apply to all future Corporate Communications( ...

CHU KONG PETROLEUM AND NATURAL GAS STEEL PIPE HOLDINGS LIMITED 珠 江 石 油 天 然 氣 鋼 管 控 股 有 限 公 司 (incorporated in the Cayman Islands with limited liability) NOTIFICATION LETTER 通知信函 Dear Registered Shareholder, 28 April 2025 (Stock Code: 1938) Chu Kong Petroleum and Natural Gas Steel Pipe Holdings Limited (the "Company") — Notification of publication of 2024 Annual Report, Circular and Notice of AGM ("Current Corporate Communications") The English and Chinese versions of the Company's Current Corporate Communic ...

為響應環保與節省印刷及郵遞費用，本公司建議 閣下選擇收取網上版本。在行使上述選擇權時，請 閣下於 回條（「回條」）上適當空格內劃上「✓」號，簽署後以電郵發送至1938-ecom@vistra.com，或使用回條下方之 郵資已付的郵寄標籤寄回本公司的香港股份過戶登記分處（「股份過戶登記分處」），卓佳證券登記有限公司， 地址為香港夏慤道16號遠東金融中心17樓。如在香港以外地區投寄需貼上郵票。 倘若本公司於2025年5月28日前尚未收到 閣下填妥及簽署的回條或任何表示反對的回覆， 閣下將被視為已同 意日後登入本公司網站收取所有公司通訊網上版本，而本公司在將來只會向 閣下發出刊發通知。 CHU KONG PETROLEUM AND NATURAL GAS STEEL PIPE HOLDINGS LIMITED 珠江石油天然氣鋼管控股有限公司 (incorporated in the Cayman Islands with limited liability) (Stock code: 1938) 各位新登記股東： 選擇收取公司通訊的語言版本及收取方式 珠江石油天然氣鋼管控股有限公司（「本公司」）根據香港聯合交易所有 ...

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通告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本通告全部或任何 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。 CHU KONG PETROLEUM AND NATURAL GAS STEEL PIPE HOLDINGS LIMITED 珠江石油天然氣鋼管控股有限公司 （於開曼群島註冊成立的有限公司） 1. 省覽及考慮本公司及其附屬公司截至二零二四年十二月三十一日止年度之經審 核綜合財務報表、本公司董事會報告與核數師報告； 2. 各為一項獨立決議案： (a) 重選陳昌先生為執行董事； (b) 重選歐陽廣華先生為獨立非執行董事；及 (c) 授權董事會釐定董事酬金； 3. 續聘中正天恆會計師有限公司為本公司核數師，並授權董事會釐定其酬金； （股份代號：1938） 股東週年大會通告 茲通告珠江石油天然氣鋼管控股有限公司（「本公司」）將於二零二五年六月二十日 （星期五）上午十時三十分假座香港皇后大道中29號華人行1樓舉行股東週年大會， 以考慮並酌情處理下列事務： 除文義另有所指外，本通告所用之詞彙具有與本公司日期為二零二 ...

此 乃 要 件 請 即 處 理 閣下如對本通函的任何方面或將予採取的行動有任何疑問，應諮詢 閣下的持牌證券交易商 或其他註冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 珠江石油天然氣鋼管控股有限公司謹訂於二零二五年六月二十日（星期五）上午十時三十分 假座香港皇后大道中29號華人行1樓舉行股東週年大會，大會通告載於本通函第16至20頁。 無論 閣下能否親身出席股東週年大會，務請按照隨附代表委任表格印列的指示填妥表格， 並盡快及無論如何最遲於股東週年大會或其任何續會指定舉行時間48小時（即於二零二五年 六月十八日（星期三）上午十時三十分）前交回本公司的香港股份登記及過戶分處卓佳證券登 記有限公司，地址為香港夏愨道16號遠東金融中心17樓。填妥及交回代表委任表格後， 閣 下仍可依願親身出席股東週年大會或其任何續會，並於會上投票。於該情況下，代表委任表 格應被視為已撤銷論。 二零二五年四月二十八日 閣下如已出售或轉讓名下所有珠江石油天然氣鋼管控股有限公司的股份，應立即將本通函 連同隨附的代表委任表格送交買主或承讓人，或經手買賣或轉讓的銀行、持牌證券交易商或 其他代理商，以便轉交買主或承讓人。 香港交易及結 ...

Financial Performance - The Group recorded sales of approximately RMB2,939.9 million for the year ended 31 December 2024, representing an increase of approximately 10.9% compared to RMB2,651 million in 2023[25]. - The profit for the year was approximately RMB212.7 million, up from RMB183.8 million in 2023[25]. - Earnings per share attributable to ordinary equity holders was approximately RMB0.21, compared to RMB0.18 in 2023[25]. - The Group recorded sales of approximately RMB 2,939,900,000, an increase of about 10.9% compared to RMB 2,651,000,000 in the previous year[27]. - The Group's profit was approximately RMB 212,700,000, up from RMB 183,800,000 in the previous year[27]. - Earnings per share for ordinary shareholders was approximately RMB 0.21, compared to RMB 0.18 in the previous year[27]. - The Group's revenue increased from RMB 2,651 million in 2023 to approximately RMB 2,939 million in 2024, primarily due to an increase in overseas sales of steel pipes[100]. - Overseas sales for 2024 were approximately RMB 2,218.7 million, representing a 61.9% increase compared to approximately RMB 1,370.5 million in 2023, accounting for 79.6% of total steel pipe revenue[107]. - Gross profit from steel pipe sales for 2024 was approximately RMB 494.6 million, a decrease of about 3.7% from RMB 513.4 million in 2023, with a gross profit margin of 17.7%[106]. - Revenue from property development and investment decreased by approximately 41.4% to RMB152.3 million in 2024 from RMB260.0 million in 2023, a decline of RMB107.7 million[112]. Production and Capacity - The Group's production capacity as of 31 December 2024 was 1,800,000 tonnes[9]. - The Group delivered a total of 414,000 tonnes of steel pipes and received orders for 272,000 tonnes, consolidating its leading position in the industry[26]. - The Group has successfully produced and developed deep sea welded pipes for use at depths of 3,500 meters underwater, making it the first and only manufacturer in China to achieve this[81]. - The Group's steel pipe products are widely used in major oil and gas pipeline projects, both onshore and offshore, as well as in infrastructure projects domestically and internationally[81]. Market and Industry Trends - The ongoing Russia-Ukraine conflict and tensions in the Middle East have created uncertainties in the global energy market, impacting international trade[24]. - The construction of natural gas pipelines in China continues to present development opportunities for the Group amid the adjustment of its energy structure[24]. - The global economic recovery remains uncertain in 2025, influenced by various geopolitical factors and market dynamics[40]. - The Group anticipates that 2025 will remain a challenging year for the oil and natural gas industry due to ongoing geopolitical tensions and economic factors[168]. Innovation and Technology - The Group holds 114 patents, including 51 invention patents, and has 19 international quality certificates[10]. - The Group is the first and only steel pipe manufacturer in the PRC to develop deep sea welded steel pipes for use at a water depth of 3,500 meters[10]. - The Group's deep-sea development strategy focuses on oil and gas resources, with significant advancements in deep-sea pipeline technology since 2012[38]. - The Group's commitment to independent innovation and marine engineering aligns with national strategies to support China's maritime power ambitions[41]. Awards and Recognition - The Group was awarded the "Specialized and New Annual Masterpiece" case award by China Media Group in January 2024, outperforming among 12,000 specialized enterprises nationwide[37]. - The Group has been accredited with 14 international quality certifications, including those from Det Norske Veritas and the American Petroleum Institute[81]. - The Group is classified as a member of the Offshore Engineering Equipment Industry, capable of manufacturing subsea pipes and drilling platform structure pipes for offshore projects[82]. Financial Management - The Group has fully repaid its bonds from December 31, 2024, aiming to lighten its financial load and achieve better results[43]. - As of December 31, 2024, the Group's total borrowings amounted to approximately RMB1,865 million, with 45% being long-term borrowings and 55% short-term borrowings[154]. - The Group's gearing ratio remained stable at approximately 28.7% in 2024 compared to 28.5% in 2023, indicating no major change in capital structure[150][152]. - Net cash flows from operating activities decreased to approximately RMB205.9 million in 2024 from RMB431.1 million in 2023[138]. Leadership and Management - Ms. Chen Zhao Nian, aged 48, is responsible for the daily management and operations of the Group, having joined in October 2002[191]. - The Company has a strong leadership team with Ms. Chen serving in significant roles within various local and provincial organizations[194]. - The leadership team emphasizes social responsibility and community engagement, as evidenced by Ms. Chen's recognition as a socially responsible entrepreneur[190]. - The Company aims to leverage its leadership's extensive network and experience to drive growth and development in the industry[196].

Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 2,939,876,000, representing an increase of 10.9% compared to RMB 2,650,852,000 in 2023[2]. - Gross profit for the same period was RMB 517,414,000, down 6.6% from RMB 554,210,000 in the previous year[2]. - The net profit attributable to the owners of the company was RMB 212,671,000, an increase of 15.7% from RMB 183,778,000 in 2023[3]. - Basic and diluted earnings per share rose to RMB 0.21 from RMB 0.18, reflecting a growth of 16.7%[3]. - Adjusted profit before tax for the group was RMB 166,509,000, compared to RMB 39,079,000 in the previous year, reflecting a significant increase[25][31]. - The company reported a profit of approximately RMB 212.7 million in 2024, an increase from RMB 183.8 million in 2023[82]. Revenue Breakdown - The steel pipe division generated revenue of RMB 2,787,554,000, up 16.5% from RMB 2,390,855,000 in the previous year[27][31]. - The property development and investment division reported a revenue of RMB 152,322,000, a decrease of 41.3% from RMB 259,997,000 in 2023[25][31]. - Steel pipe sales accounted for 94.8% of total revenue in 2024, up from 90.2% in 2023, while property development and investment revenue decreased by 41.4% to RMB 152,322,000[67][71]. - The sales revenue from straight seam submerged arc welded pipes was approximately RMB 2,195,400,000, accounting for about 80.5% of the total steel pipe revenue for the year ending December 31, 2024[58]. - The revenue from spiral submerged arc welded pipes was approximately RMB 366,900,000, representing about 15.4% of the total steel pipe revenue, a significant decrease compared to the previous year due to reduced deliveries to infrastructure projects[59]. Assets and Liabilities - Total assets decreased slightly to RMB 4,075,599,000 in 2024 from RMB 4,374,358,000 in 2023[6]. - The total assets of the group as of December 31, 2024, were RMB 6,505,939,000, a slight decrease from RMB 6,421,421,000 in 2023[25][26]. - The total liabilities of the group were RMB 5,266,808,000, compared to RMB 5,345,346,000 in the previous year, indicating a reduction in liabilities[25][26]. - Current liabilities decreased to RMB 4,112,922,000 from RMB 4,374,358,000, indicating improved liquidity management[6]. - The company maintained a net current liability of RMB 427,360,000, an improvement from RMB 845,744,000 in the previous year[10]. Cash Flow and Financing - Cash and cash equivalents increased to RMB 53,323,000 from RMB 32,191,000, showing a positive cash flow trend[10]. - The group recorded a net exchange gain of approximately RMB 15.6 million in 2024, compared to RMB 15.1 million in 2023, mainly due to the appreciation of the US dollar against the RMB when collecting trade receivables[80]. - Net cash flow from operating activities decreased from approximately RMB 431.1 million in 2023 to RMB 205.9 million in 2024, influenced by increased inventory and trade receivables[84]. - Net cash flow used in investing activities increased from an outflow of approximately RMB 8.7 million in 2023 to RMB 55.8 million in 2024, primarily due to the acquisition of property, plant, and equipment[85]. - The group's total borrowings amounted to approximately RMB 1.865 billion as of December 31, 2024, with about 45% being long-term borrowings and 55% short-term borrowings[92]. Operational Highlights - The company delivered a total of 414,000 tons of steel pipes and received orders for 272,000 tons, further solidifying its leading position in the industry[46]. - The company successfully secured a contract for the construction of offshore platform structural modules, providing approximately 30,000 tons of specialized welded pipes for the Crux LNG facility[47]. - The company won a bid for the Middle East terminal project, which will become the largest port in the region, providing approximately 68,000 tons of spiral steel pipes for the project[48]. - The company participated in the TotalEnergies Supplier Day 2024, showcasing its experience in supplying a 1,500 km heated crude oil pipeline for the East African Crude Oil Pipeline (EACOP) project[49]. - The company supplied 90% of the pile foundation steel pipes for the Shenzhen-Zhongshan Channel, a key national infrastructure project, enhancing the durability of the structure[50]. Challenges and Market Conditions - The company is facing challenges in international trade due to global economic uncertainties, including the ongoing Russia-Ukraine conflict and a strong US dollar impacting the RMB[45]. - The company anticipates that 2025 will remain challenging for the oil and gas industry due to ongoing geopolitical tensions and economic slowdowns, but sees long-term support from China's focus on energy security and clean energy initiatives[98]. Corporate Governance - The company has adhered to all corporate governance codes as of December 31, 2024, ensuring compliance with the Hong Kong Stock Exchange regulations[105]. - The independent non-executive directors confirm that the controlling shareholder has fully complied with the non-competition commitments, with no new competitive businesses reported for the year ending December 31, 2024[107]. - The audit committee, consisting of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending December 31, 2024[108]. Future Outlook - The company plans to expand its insulation pipe business to meet the demand for green and low-carbon products, aligning with China's dual carbon goals[102]. - The company aims to diversify its steel pipe applications by participating in various global oil and gas engineering projects, targeting infrastructure and high-end construction sectors[104].

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佈的內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或 任何部份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。 承董事會命 珠江石油天然氣鋼管控股有限公司 主席 陳昌 中國廣東省，二零二五年三月十八日 CHU KONG PETROLEUM AND NATURAL GAS STEEL PIPE HOLDINGS LIMITED 珠江石油天然氣鋼管控股有限公司 (於開曼群島註冊成立的有限公司) 董事會會議通告 珠江石油天然氣鋼管控股有限公司（「本公司」，連同其附屬公司統稱為「本集團」）之 董事（「董事」）會（「董事會」）謹此公佈，董事會將於二零二五年三月二十八日（星期五） 召開會議，會議目的包括但不限於考慮及批准本集團截至二零二四年十二月三十一日止期 間之年度業績公佈、考慮及批准宣派末期股息之建議（如有），以及處理其他事項。 (股份代號: 1938) 於本公佈日期，董事會由兩位執行董事，即陳昌先生及陳兆年女士；及三位獨立非執行董事， 即陳平先生、歐陽廣華先生及詹建宙先生組成。 ...

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佈之內容概不負責， 對其 準確性或完整性亦不發表任何聲明，並明確表示概不就因本公佈全部或任何部分內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 CHU KONG PETROLEUM AND NATURAL GAS STEEL PIPE HOLDINGS LIMITED 珠 江 石 油 天 然 氣 鋼 管 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：1938） 補充公告 謹此提述珠江石油天然氣鋼管控股有限公司（以下簡稱「本公司」）於 二零二五年二 月二十五日發佈的有關出售土地的公告（以下簡稱「公告」）。除文義另有所指外， 本公告中所用詞彙應與公告中使用的詞彙具有相同涵義。 有關出售土地之須予披露交易 除公告中提供的資訊外，董事會就有關出售土地和公告的披露提供以下澄清和補充資 訊。 代價基準 如公告所披露，珠江鋼管（雲浮）於二零二—年向雲浮市政府購入該土地，該土地原 購價為人民幣3025萬元。由於種種原因，該土地未能按計劃開發，珠江鋼管（雲浮） 與雲浮市政府達成共識，以原購價將該土地退還給雲浮市政府。因此，人民幣3025萬 ...