Financial Performance - Revenue for the fiscal year 2024 reached RMB 4,753,934 thousand, representing a 7.2% increase from RMB 4,434,798 thousand in 2023[20] - Operating profit for 2024 was RMB 657,769 thousand, up from RMB 600,686 thousand in 2023, indicating an increase of 9.5%[20] - The net profit attributable to equity holders for 2024 was RMB 242,649 thousand, a 23.5% increase compared to RMB 196,513 thousand in 2023[20] - The company’s basic earnings per share for 2024 was RMB 0.0854, an increase from RMB 0.0675 in 2023[20] - Net profit attributable to shareholders was approximately RMB 240 million, reflecting a year-on-year growth of about 23.5%[32] - The company’s net profit for 2024 was approximately RMB 257.5 million, an increase of about RMB 36.9 million or 16.7% compared to RMB 220.6 million in 2023[98] - The profit attributable to equity holders of the company for 2024 was approximately RMB 242.6 million, an increase of about RMB 46.1 million or 23.5% compared to RMB 196.5 million in 2023[99] Revenue Sources - In 2024, the company achieved a total revenue of RMB 4.75 billion, with overseas business accounting for 65.0% of total revenue[32] - The overseas market revenue was approximately RMB 3,091.1 million, a growth of RMB 403.0 million or 15.0% compared to RMB 2,688.1 million in 2023, accounting for about 65.0% of total revenue[50][51] - Revenue from the Iraq market was approximately RMB 2,601.4 million, an increase of RMB 390.5 million or 17.7% from RMB 2,210.9 million in 2023, representing 54.7% of total revenue[50][52] - Revenue from the Chinese market in 2024 was approximately RMB 1,662.8 million, a decrease of about 4.8% compared to RMB 1,746.7 million in 2023[60] Orders and Backlog - The company secured new orders totaling RMB 9.01 billion, representing a 53.7% increase compared to 2023, with overseas market orders growing by 78.8%[32] - In 2024, the group achieved a historic high in new orders totaling approximately RMB 9,009.2 million, representing a year-on-year growth of about 53.7%[43] - New orders from overseas markets surged by approximately 78.8%, reaching RMB 5,802.6 million, accounting for about 64.4% of total new orders[43] - The company's total backlog of orders reached a historical high of approximately RMB 14,224.2 million, ensuring future growth[43] Cost and Expenses - The company reported a decrease in financial costs, with net financial expenses dropping to RMB 156,301 thousand in 2024 from RMB 195,129 thousand in 2023[20] - Operating costs rose from RMB 3,112.5 million in 2023 to approximately RMB 3,350.9 million in 2024, an increase of about 7.7% due to the corresponding rise in revenue[88] - The research and development expenditure was approximately RMB 115.7 million in 2024, an increase of 3.6% from RMB 111.7 million in the previous year[79] - The capital expenditure for 2024 was approximately RMB 186.3 million, a decrease of about RMB 90.7 million from RMB 277.0 million in 2023[77] Dividends and Shareholder Returns - The company introduced a new dividend policy, proposing a dividend of RMB 0.025 per share for the fiscal year 2024[20] - The company announced a final cash dividend of RMB 73 million for 2024, alongside a share buyback policy[33] - The company plans to distribute a final dividend of RMB 73.0 million, an increase of 87.2% compared to the previous year's total dividend payout[47] Strategic Initiatives - The company plans to enhance its service offerings through four key solutions: efficiency in oil and gas development, effective utilization of natural gas resources, AI-enabled oil and gas development, and collaborative platform development[8] - The company aims to expand its operations in over 30 countries and regions, focusing on emerging markets in oil and gas development[7] - The strategic focus has shifted to becoming a "company that enhances the efficiency of oil and gas resource development and utilization," leveraging AI and platform collaboration capabilities[36] - The company continues to invest in R&D for new technologies and products to enhance operational efficiency and reduce costs[8] Sustainability and Corporate Governance - The company is committed to sustainable development and aims to become a leading global green energy technology service provider[8] - The company was selected for the S&P Global "Sustainable Development Yearbook (China Edition) 2024," marking a significant achievement in sustainability efforts[48] - The company emphasizes internationalization and diversity in talent recruitment, creating an equal and inclusive workplace environment[200] - The company has maintained high standards of corporate governance since its listing on December 14, 2007, and has complied with all applicable code provisions as of December 31, 2024[199] Talent and Workforce - The company aims to build a new talent system suitable for rapid global development and implement a partner system to stimulate employee engagement[36] - The total number of employees as of December 31, 2024, was 6,754, an increase of 244 from the previous year, with overseas employees accounting for 62.8%[82] - The company continues to focus on international talent recruitment to support its global expansion strategy[46] - The company aims to enhance its global talent acquisition strategy and build a professional recruitment network to support its globalization efforts[81]

格隆汇4月16日丨安东油田服务(03337.HK)公告，第一季度，全球油气市场在宏观经济环境、地缘政治 因素和供需动态变化的影响下，出现显著波动，但并未影响全球油气活跃开发局势；全球天然气需求持 续增长，亚洲新兴市场的需求尤为强劲。 季度内，集团围绕"建设领先的绿色能源技术服务全球化公司"的长期目标，聚焦油气资源的高效开发和 天然气资源的高效利用，提出四大"提效"解决方案，包括"油气田开发提效解决方案"、"天然气资源利 用提效解决方案"、"AI赋能油气开发解决方案"及"平台协作油气开发解决方案"，持续推进业务升级。 全球化业务持续拓展，各业务所在地项目作业高质平稳推进。 第一季度，集团新增订单人民币1,740.9百万元，较去年同期下降22.0%，其中，伊拉克市场新增订单约 人民币700.2百万元，较去年同期下降47.4%；其他海外市场新增订单约人民币325.2百万元，较去年同 期增长43.5%；中国市场新增订单约人民币715.5百万元，较去年同期增加6.0%。 海外市场，伊拉克，集团于一季度中标光纤监测、油田监督监理服务项目、修井、固井技术服务项目 等，业务发展势头良好，但由于集团于去年一季度末提前完成续签的 ...

Investment Rating - The report maintains a "Buy" rating for the company [4][5] Core Insights - The company achieved steady growth in 2024, with revenue of 4.75 billion RMB, a year-on-year increase of 7.2%, and a net profit of 240 million RMB, up 23.5% year-on-year [1] - The company continues to deepen its global market expansion, with stable revenue growth across major segments [2] - The overseas market, particularly Iraq, showed strong performance, contributing significantly to future growth [3] Revenue and Profitability - In 2024, the oilfield management services segment generated revenue of 1.85 billion RMB, a 14.2% increase year-on-year [2] - The oilfield technical services segment reported revenue of 2.13 billion RMB, up 5.2% year-on-year [2] - The company’s comprehensive gross margin was 29.5%, a slight decrease of 0.3 percentage points year-on-year, while the net profit margin increased by 0.4 percentage points to 5.4% [1] Market Performance - Domestic market revenue was 1.66 billion RMB, down 4.8% year-on-year, while overseas market revenue reached 3.09 billion RMB, a 15.0% increase [3] - The Iraq market alone generated 2.6 billion RMB in revenue, reflecting a 17.7% year-on-year growth due to increased capital investment from major clients [3] Order Growth - The company secured new orders worth 3.21 billion RMB in the domestic market, a 22.5% increase year-on-year, and 5.01 billion RMB in the Iraq market, a significant 97.3% increase [3] - Overall, the company’s robust order book supports its future growth trajectory [3] Financial Forecast - The report projects a 10.8% and 15.7% increase in net profit for 2025 and 2026, respectively, with estimates of 360 million RMB and 460 million RMB [4] - Earnings per share (EPS) are forecasted to be 0.12 RMB for 2025, 0.15 RMB for 2026, and 0.19 RMB for 2027 [4]

Financial Performance - The group's total revenue for the year ended December 31, 2024, was approximately RMB 4,753.9 million, an increase of about 7.2% compared to RMB 4,434.8 million in 2023[4]. - Net profit for the group was approximately RMB 257.5 million, representing a growth of about 16.7% from RMB 220.6 million in 2023[4]. - Profit attributable to equity holders of the company was approximately RMB 242.6 million, up about 23.5% from RMB 196.5 million in 2023[4]. - The total comprehensive income for the year was RMB 270.21 million, compared to RMB 222.49 million in 2023[8]. - The EBITDA for the same period was RMB 1,468,494,000, compared to RMB 1,413,283,000 in 2023, indicating a year-over-year increase of about 3.9%[24]. - The company reported a profit of RMB 257,504,000 for the fiscal year ending December 31, 2024, compared to RMB 220,560,000 in 2023, marking an increase of about 16.7%[24]. - Basic earnings per share for the year ended December 31, 2024, is RMB 0.0854, compared to RMB 0.0675 for the previous year[57]. - The company's net profit for 2024 was approximately RMB 257.5 million, an increase of RMB 36.9 million or 16.7% compared to RMB 220.6 million in 2023[116]. - The profit attributable to equity holders of the company for 2024 was approximately RMB 242.6 million, an increase of RMB 46.1 million or 23.5% compared to RMB 196.5 million in 2023[117]. Cash Flow and Dividends - Operating cash inflow was approximately RMB 1,325.1 million, an increase of about 44.5% compared to RMB 916.8 million in 2023; free cash flow was approximately RMB 979.7 million, up about 96.1% from RMB 499.5 million in 2023[4]. - The board proposed a final dividend of RMB 0.025 per share, totaling approximately RMB 73 million, an increase of about 87.2% compared to RMB 39 million in 2023[4]. - The year-end cash and cash equivalents stood at RMB 2,190,759 thousand, compared to RMB 1,585,886 thousand at the end of 2023, marking a growth of 38.2%[10]. - The net increase in cash and cash equivalents for the year was RMB 588,879 thousand, down from RMB 851,622 thousand in the previous year[10]. - The company paid income taxes amounting to RMB 185,385 thousand, an increase from RMB 130,983 thousand in 2023, reflecting a rise of 41.5%[10]. Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 10,217.98 million, compared to RMB 9,806.87 million in 2023[6]. - Total liabilities as of December 31, 2024, were RMB 6,609.64 million, compared to RMB 6,385.99 million in 2023[6]. - Accounts receivable from customer contracts stood at RMB 2,189,508,000 as of December 31, 2024, slightly down from RMB 2,192,156,000 in 2023[29]. - Total liabilities for accounts payable and notes payable reached RMB 1,959,260,000 in 2024, up from RMB 1,819,924,000 in 2023, indicating a growth of approximately 7.7%[34]. - The impairment of accounts receivable increased to RMB 366,857,000 in 2024 from RMB 314,310,000 in 2023, reflecting a rise in credit risk[32]. Revenue Segmentation - The oilfield technology services segment generated revenue of RMB 2,125,937,000, while the oilfield management services segment contributed RMB 1,848,066,000, reflecting strong performance in these areas[24]. - Revenue from service provision increased to RMB 4,343,596,000 in 2024 from RMB 3,998,123,000 in 2023, marking a growth of approximately 8.6%[36]. - The company’s revenue from contracts with customers totaled RMB 1,979,429,000 for the year ended December 31, 2024, compared to RMB 1,856,765,000 in 2023, reflecting an increase of about 6.6%[38]. - Oilfield management services revenue increased by approximately 14.2% to RMB 1,848.1 million, representing about 38.9% of total revenue[84][85]. - Oilfield technology services revenue grew by approximately 5.2% to RMB 2,125.9 million, accounting for about 44.7% of total revenue[84][85]. Market Performance - In 2024, the company's overseas market revenue reached approximately RMB 3,091.1 million, an increase of about RMB 403.0 million or 15.0% compared to RMB 2,688.1 million in 2023, accounting for approximately 65.0% of total revenue[72]. - The revenue from the Iraq market was approximately RMB 2,601.4 million, up RMB 390.5 million or 17.7% from RMB 2,210.9 million in 2023, representing 54.7% of the company's total revenue[72]. - The company recorded revenue of approximately RMB 489.7 million from other overseas markets, an increase of about 2.6% from RMB 477.2 million in 2023, accounting for approximately 10.3% of total revenue[78]. - In the Chinese market, revenue was approximately RMB 1,662.8 million, a decrease of RMB 83.9 million or 4.8% from RMB 1,746.7 million in 2023, representing 35.0% of total revenue[72]. Operational Highlights - The company secured new orders totaling approximately RMB 9,009.2 million in 2024, a year-on-year increase of about 53.7%, with overseas orders growing by approximately 78.8%[64]. - The company has successfully signed a development contract for the Dhufriyah oil field in Iraq, marking a significant milestone in its oil and gas development efforts[65]. - The company is actively promoting digital technology applications in Iraq, enhancing management efficiency for oilfield clients through automation projects[76]. - The company has made significant technological breakthroughs in China, including a new high in production for tight gas well enhancement services and a successful bid for a 300MW air storage project[80]. - The group received 16 software copyrights in the year, covering various innovative technologies including intelligent drilling and real-time leak point prediction[81]. Research and Development - Research and development investment for 2024 was approximately RMB 115.7 million, up 3.6% from RMB 111.7 million in the previous year[99]. - The group plans to spin off Tongao Testing for independent listing in the mainland capital market, although the timeline has been delayed due to current macroeconomic conditions[88]. Employee and Corporate Governance - The total number of employees as of December 31, 2024, was 6,754, an increase of 244 from the previous year, with overseas employees accounting for 62.8% of the total[100]. - The audit committee reviewed the group's audited financial statements for the year ending December 31, 2024[140].

Revenue Growth - In the first half of 2024, the company's revenue increased by 15.0% compared to the same period in 2023, with overseas business revenue reaching RMB 1,511.1 million, a growth of 23.0%, accounting for 69.4% of total revenue[4]. - The company achieved a revenue of RMB 2,176.3 million in the first half of 2024, an increase of RMB 283.9 million or 15.0% compared to the same period in 2023[7]. - The Chinese market's revenue was RMB 665.2 million, showing a slight increase of 0.2% year-on-year, accounting for 30.6% of total revenue[4]. - Revenue from the Iraq market was RMB 1,241.1 million, up 25.4% from RMB 990.0 million year-on-year, representing 57.0% of total revenue[9]. - Revenue from other overseas markets in the first half of 2024 was approximately RMB 270.0 million, up about 13.1% from RMB 238.8 million in the same period last year[12]. Profitability - Operating profit for the first half of 2024 was RMB 306.2 million, up RMB 28.3 million or 10.2% year-on-year[7]. - Net profit reached RMB 111.6 million, representing a growth of approximately 7.9% from RMB 103.4 million in the same period last year[7]. - The company's revenue attributable to equity holders for the first half of 2024 was RMB 105.9 million, an increase of RMB 8.0 million or 8.2% compared to RMB 97.9 million in the same period of 2023[38]. - Basic earnings per share rose to RMB 0.0368, up from RMB 0.0333, reflecting a growth of 10.53%[79]. Orders and Backlog - The company secured new orders totaling RMB 4,871.1 million in the first half of 2024, with overseas project orders significantly increasing to RMB 3,230.5 million, a growth of 94.3%[4]. - As of June 30, 2024, the company's backlog reached a historical high of RMB 12,690 million, laying a solid foundation for future growth[4]. - In the first half of 2024, the company recorded new orders in the Iraq market amounting to approximately RMB 2,834.5 million, a significant increase of 113.4% compared to the same period in 2023[10]. Market Expansion - The company continues to expand its market presence in emerging regions such as the Middle East, Southeast Asia, Central Asia, and Africa, while maintaining its traditional advantages in the Chinese market[4]. - The company is actively engaging in technology and cooperation exchanges with clients and partners globally to seize market opportunities[4]. - The company is focused on enhancing its global talent pool and optimizing its operational management system to support international business development[6]. Digital Transformation and Innovation - The company launched an AI-driven open model platform for the oil and gas industry, named Oil and Gas GPT Cloud Platform, to enhance digital transformation and provide AI solutions[5]. - The company emphasizes the acceleration of its digital and intelligent transformation in response to the rapid development of AI technologies in the industry[5]. - The integration of AI technology in oil and gas operations led to a 25% reduction in data processing time and a 15-20% increase in decision-making accuracy[14]. Financial Position - As of June 30, 2024, total assets amounted to RMB 9,612,892 thousand, a decrease from RMB 9,806,874 thousand as of December 31, 2023, representing a decline of approximately 2%[77][78]. - The company's cash and bank deposits were approximately RMB 2,216.0 million as of June 30, 2024, an increase of RMB 147.7 million from December 31, 2023[39]. - The capital debt ratio as of June 30, 2024, was 53.9%, a decrease of 1.8 percentage points from 55.7% on December 31, 2023[39]. Operational Efficiency - The average turnover days for accounts receivable decreased by 5 days to 184 days compared to the same period last year[7]. - The company maintained over 2,100 days of loss-free working hours in its integrated oilfield management projects in Iraq, achieving high standards in health, safety, security, and environment (HSSE) performance[10]. - The company aims to enhance its competitive edge in comprehensive solution services, focusing on cost reduction and efficiency improvement in oil and gas development[27]. Research and Development - Research and development investment amounted to RMB 49.3 million, up 13.9% from RMB 43.3 million year-on-year, focusing on technologies such as fracturing visualization monitoring and evaluation, ultra-high temperature oil-based drilling fluid, and non-destructive testing[24]. - The company continues to focus on technological innovation in the China market, providing customized integrated solutions to maximize asset efficiency[13]. Shareholder and Equity Information - The company resumed annual dividends with a total of approximately RMB 39 million approved for cash payment in May 2023[6]. - The stock option plan has a total share limit of 266,006,925 shares, with 76,373,333 options available for grant as of June 30, 2024[59]. - The company has a total of 5,200,000 stock options that are currently exercisable[59]. Compliance and Governance - The company maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations throughout the reporting period[73]. - The audit committee, composed of three independent non-executive directors, reviewed the interim financial statements for the six months ending June 30, 2024[74].

Anton Oilfield Services Group (03337) H1 2024 Earnings Call September 24, 2024 04:30 PM ET Speaker0 Ladies and gentlemen, good morning. Welcome to attend Anton's twenty twenty four results announcement. Now let me walk you through the overall performance in the first half. In the first half, revenue was approximately RMB 2,200,000,000.0, representing an increase of 50% over the same period last year. Profit attributable to equity holders amounted to approximately RMB106 million, representing an increase of ...

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，概不就因本公告全部或任何部份內容而產生或因依 賴該等內容而引致的任何損失承擔任何責任。 ANTON 安東 安 東 東 田 服 務 集 園 Anton Oilfield Services Group Anton Oilfield Services Group （※ ・ （ ・ （ ・ （ ・ （ ・ ・ （ ・ 有關二零二三年年度報告之 補充公告 茲提述安東油田服務集團（「本公司」，連同其附屬公司，合稱「本集團」）截至二零 二三年十二月三十一日止年度的年度報告（「二零二三年年度報告」）。除另有所指 外，本公告所用詞彙與二零二三年年度報告所用者具有相同涵義。 本公司謹就本公司於二零一九年十二月三十日採納的限制性股票激勵計劃（「計 劃」）提供補充資料，計劃中的獎勵股份通過信託購買現有股票建立。關於計劃的 細節，請參考二零二三年年度報告「董事會報告」章節「限制性股票激勵計劃」一 段。 除選定僱員就接納獎勵股份而須向本公司支付的接納費1.00港元外，截至目前為 止根據計劃授予選定僱員的獎勵股份乃無償 ...

2024 年 9 月 2 日 市场数据 总股本(亿股) 29.80 总市值(亿港元)： 15.50 一年最低/最高(港元)： 0.39-0.60 近 3 月换手率： 13.4% 公司盈利预测与估值简表 指标 2022 2023 2024E 2025E 2026E 营业收入（百万元人民币） 3,514.9 4,434.8 5,015.9 5,759.9 6,497.4 营业收入增长率 20.2% 26.2% 13.1% 14.8% 12.8% 净利润（百万元人民币） 293.8 196.5 252.9 326.0 393.7 净利润增长率 306.8% -33.1% 28.7% 28.9% 20.8% EPS（人民币，以最新股本计） 0.10 0.07 0.08 0.11 0.13 ROE（归属母公司)（摊薄） 9.5% 6.2% 7.4% 8.7% 9.5% P/E 4.9 7.3 5.7 4.4 3.6 P/B 0.5 0.4 0.4 0.4 0.3 资料来源：Wind，光大证券研究所预测，股价时间为 2024 年 8 月 30 日，汇率为 1 港币=0.924 人民币 公司研究 油服需求复苏带动业绩稳健增 ...

Revenue Growth - The company's consolidated revenue increased by 15.0% from RMB 1,892.4 million in the first half of 2023 to RMB 2,176.3 million in the same period of 2024[1] - Revenue for the six months ended June 30, 2024, totaled RMB 2,176,321 thousand, with the Oilfield Technology Services segment contributing RMB 981,560 thousand, Oilfield Management Services contributing RMB 900,617 thousand, Rig Services contributing RMB 125,867 thousand, and Inspection Business contributing RMB 168,277 thousand[13] - Revenue for the six months ended June 30, 2024, was RMB 2,176,321,000, up from RMB 1,892,437,000 in the same period in 2023[15] - Revenue from oilfield technical services for the six months ended June 30, 2024, was RMB 851,911,000, while oilfield management services generated RMB 900,617,000[22] - Revenue from external customers for oilfield technical services was RMB 851.911 million, oilfield management services was RMB 900.617 million, drilling services was RMB 125.867 million, and inspection business was RMB 168.277 million[23] - Total revenue from sales of goods and services for oilfield technical services was RMB 697.478 million, oilfield management services was RMB 751.039 million, drilling services was RMB 182.278 million, and inspection business was RMB 173.063 million[23] - Revenue for the first half of 2024 increased by 15.0% year-over-year to RMB 2,176.3 million, with overseas market revenue growing by 23.0% to RMB 1,511.1 million, accounting for 69.4% of total revenue[35][40] - The company's revenue in the Chinese market for the first half of 2024 was approximately RMB 665.2 million, a slight increase of 0.2% compared to RMB 663.6 million in the same period last year[45] - The company's oilfield management service revenue grew by 19.9% to RMB 900.6 million, accounting for 41.4% of the total revenue for the first half of 2024[46] - The company's oilfield technical service revenue increased by 24.9% to RMB 981.5 million, representing 45.1% of the total revenue for the first half of 2024[46] - The company's total revenue for the first half of 2024 was RMB 2,176.3 million, a 15.0% increase compared to RMB 1,892.4 million in the same period last year[47] - The company's oilfield management services revenue increased by 19.9% to RMB 900.6 million in the first half of 2024, compared to RMB 751.0 million in the same period last year[50] - Integrated oilfield management services revenue rose by 10.2% to RMB 546.8 million in the first half of 2024, up from RMB 496.1 million in the previous year[50] - Oilfield operation and maintenance services revenue surged by 38.8% to RMB 353.8 million in the first half of 2024, compared to RMB 254.9 million in the same period last year[50] - The oilfield technology services segment revenue grew by 24.9% to RMB 981.5 million in the first half of 2024, up from RMB 786.1 million in the previous year[51] - Revenue for the first half of 2024 was RMB 2,176.3 million, a 15.0% increase compared to RMB 1,892.4 million in the same period of 2023[59] Profitability - Net profit grew by 7.9% from RMB 103.4 million in the first half of 2023 to RMB 111.6 million in the same period of 2024[1] - Profit attributable to equity holders of the company rose by 8.2% from RMB 97.9 million in the first half of 2023 to RMB 105.9 million in the same period of 2024[1] - Gross profit margin improved from 29.6% in the first half of 2023 to 30.3% in the same period of 2024[4] - Net profit for the six months ended June 30, 2024, was RMB 111,563 thousand, after deducting unallocated corporate overhead expenses of RMB 203,574 thousand[13] - Operating profit increased by 10.2% year-over-year to RMB 306.2 million, while net profit rose by 7.9% to RMB 111.6 million[40] - Operating profit for the first half of 2024 was RMB 306.2 million, a 10.2% increase from RMB 277.9 million in the same period of 2023[64] - Net profit for the first half of 2024 was RMB 111.6 million, a 7.9% increase compared to RMB 103.4 million in the same period of 2023[66] Cash Flow and Financial Position - Operating cash inflow increased by RMB 4.5 million from RMB 341.2 million in the first half of 2023 to RMB 345.7 million in the same period of 2024[1] - Free cash flow grew by 15.1% from RMB 171.4 million in the first half of 2023 to RMB 197.2 million in the same period of 2024[1] - Total assets decreased from RMB 9,806.874 million as of December 31, 2023 to RMB 9,612.892 million as of June 30, 2024[2] - Cash and cash equivalents increased from RMB 1,585.886 million as of December 31, 2023 to RMB 1,773.682 million as of June 30, 2024[2] - Net cash generated from operating activities increased from RMB 341.171 million in the first half of 2023 to RMB 345.673 million in the same period of 2024[6] - Total assets as of June 30, 2024, were RMB 9,612,892,000, a slight decrease from RMB 9,806,874,000 as of December 31, 2023[14] - Trade receivables, net, as of June 30, 2024, were RMB 2,200,304,000, down from RMB 2,255,971,000 as of December 31, 2023[17] - Trade payables and notes payable as of June 30, 2024, totaled RMB 1,679,233,000, a decrease from RMB 1,819,924,000 as of December 31, 2023[21] - Non-current assets as of June 30, 2024, were RMB 2,488,628,000, slightly lower than RMB 2,575,680,000 as of December 31, 2023[15] - Capital expenditures for the six months ended June 30, 2024, were RMB 70,265,000, significantly lower than RMB 190,689,000 in the same period in 2023[14] - Trade receivables aged 1 to 6 months as of June 30, 2024, were RMB 1,503,021,000, down from RMB 1,752,215,000 as of December 31, 2023[18] - Impairment loss allowance for trade receivables as of June 30, 2024, was RMB 341,846,000, up from RMB 300,937,000 as of December 31, 2023[19] - Operating cash flow for the first half of 2024 was RMB 345.7 million, with free cash flow increasing by 15.1% year-over-year to RMB 197.2 million[38] - Accounts receivable turnover days decreased by 5 days to 184 days, while inventory turnover days dropped by 21 days to 107 days[40] - Cash and bank deposits as of June 30, 2024, were RMB 2,216.0 million, an increase of RMB 147.7 million from December 31, 2023[69] - Capital-to-debt ratio decreased by 1.8 percentage points to 53.9% as of June 30, 2024, compared to 55.7% at the end of 2023[69] - Operating cash flow for the six months ended June 30, 2024, was a net inflow of RMB 345.7 million, an increase of RMB 4.5 million compared to the same period in 2023[71] - Capital expenditures for the six months ended June 30, 2024, amounted to RMB 86.4 million, an increase of RMB 26.8 million compared to the same period in 2023[72] - The company's capital commitments as of June 30, 2024, were approximately RMB 48.3 million, with no significant contingent liabilities or guarantees[73] Segment Performance - The Oilfield Management Services segment showed the highest segment performance with RMB 219,002 thousand, followed by Oilfield Technology Services with RMB 57,757 thousand, Inspection Business with RMB 35,666 thousand, and Rig Services with RMB 2,712 thousand[13] - Depreciation and amortization expenses for the six months ended June 30, 2024, totaled RMB 166,752 thousand, with Oilfield Technology Services accounting for RMB 128,415 thousand, Rig Services for RMB 26,783 thousand, Inspection Business for RMB 6,961 thousand, and Oilfield Management Services for RMB 4,593 thousand[13] - Impairment losses on trade receivables (net of write-offs) for the six months ended June 30, 2024, amounted to RMB 32,515 thousand, with Oilfield Technology Services accounting for RMB 18,679 thousand, Oilfield Management Services for RMB 11,878 thousand, Rig Services for RMB 1,210 thousand, and Inspection Business for RMB 748 thousand[13] - Interest income for the six months ended June 30, 2024, was RMB 6,715 thousand, with Oilfield Technology Services contributing RMB 4,036 thousand, Inspection Business contributing RMB 1,310 thousand, Oilfield Management Services contributing RMB 939 thousand, and Rig Services contributing RMB 430 thousand[13] - Financial expenses for the six months ended June 30, 2024, totaled RMB 15,596 thousand, with Oilfield Technology Services accounting for RMB 9,236 thousand, Oilfield Management Services for RMB 3,372 thousand, Rig Services for RMB 2,421 thousand, and Inspection Business for RMB 567 thousand[13] - Income tax expenses for the six months ended June 30, 2024, amounted to RMB 116,668 thousand, with Oilfield Management Services accounting for RMB 62,225 thousand, Oilfield Technology Services for RMB 41,030 thousand, Inspection Business for RMB 7,977 thousand, and Rig Services for RMB 5,436 thousand[13] - The company's drilling rig service revenue declined by 30.9% to RMB 125.9 million, accounting for 5.8% of the total revenue for the first half of 2024[46] - The company's inspection service revenue decreased by 2.8% to RMB 168.3 million in the first half of 2024, compared to RMB 173.1 million in the same period last year[49] - The company's inspection service EBITDA decreased by 15.9% to RMB 50.9 million in the first half of 2024, with an EBITDA margin of 30.2%, down 4.8 percentage points from 35.0% in the same period last year[49] - Drilling technology services revenue increased by 35.8% to RMB 181.5 million in the first half of 2024, compared to RMB 133.7 million in the same period last year[51] - Completion technology services revenue rose by 58.5% to RMB 156.9 million in the first half of 2024, up from RMB 99.0 million in the previous year[51] - Production enhancement technology services revenue increased by 12.4% to RMB 508.5 million in the first half of 2024, compared to RMB 452.5 million in the same period last year[51] International Expansion and Market Performance - Two external customers contributed RMB 1,325,077,000, accounting for 39.30% and 21.59% of total revenue, primarily from oilfield technical services and management services[16] - Geographic revenue breakdown: China contributed RMB 360.101 million, Iraq contributed RMB 218.185 million, and other countries contributed RMB 119.192 million for oilfield technical services[24] - The company won the development rights for the Dhufriyah oil field in Iraq, marking a significant milestone in its international expansion[37] - The company's revenue from the Iraqi market grew by 25.4% year-over-year to RMB 1,241.1 million, accounting for 57.0% of total revenue[41] - Iraq market revenue in H1 2024 reached RMB 1,241.1 million, a 25.4% increase YoY[42] - Iraq market accounted for 57.0% of total revenue in H1 2024, up from 52.3% in H1 2023[42] - Total overseas revenue in H1 2024 was RMB 1,511.1 million, a 23.0% increase YoY[42] - New orders in Iraq market in H1 2024 reached RMB 2,834.5 million, a 113.4% increase YoY[43] - Other overseas markets revenue in H1 2024 was RMB 270.0 million, a 13.1% increase YoY[42] - New orders in other overseas markets in H1 2024 totaled RMB 396.0 million, an 18.6% increase YoY[44] - Company secured Dhufriyah oilfield development rights in Iraq with a 25-year development period[43] - Achieved over 2,100 days of zero lost time incidents in Iraq market as of June 30, 2024[43] - Successfully implemented over 4 million hours of zero lost time incidents in Chad market[44] - Launched first associated gas carbon reduction project in Indonesia market[44] Research and Development - The company's R&D investment increased by 13.9% to RMB 49.3 million in the first half of 2024, up from RMB 43.3 million in the previous year[55] - Research and development expenses for the first half of 2024 were RMB 49.3 million, a 13.9% increase from RMB 43.3 million in the same period of 2023[62] ESG and Sustainability - The company was recognized in the "Sustainable Development Yearbook (China Edition) 2024" and the "China Excellence in Management Companies" list, highlighting its ESG achievements[39] Strategic Initiatives and Future Plans - The company successfully launched a large-scale AI platform for the oil and gas industry, named "Oil and Gas GPT Cloud Platform," accelerating digital and intelligent transformation[37] - The company's AI technology application reduced data processing time by 25%, improved decision accuracy by 15-20%, increased overall oilfield development volume by 8%, enhanced old well production by 8%, and reduced new well drilling time by approximately 5%[45] - The company plans to expand into new markets and strengthen sales strategies, focusing on digital sales platforms and innovative projects[57] - The company will continue to advance AI transformation and digital platform globalization to enhance operational efficiency and drive business growth[57] Financial Instruments and Shareholder Returns - The company repurchased a total of USD 38.2 million of 2025 bonds with a coupon rate of 8.75% in the secondary market during the six months ended June 30, 2024[76] - The company's restricted stock incentive plan trustee purchased a total of 31,984,000 shares, representing 1.1% of the company's total issued shares as of the announcement date[76] - The company declared and paid a final dividend of RMB 0.013 per share for the year ended December 31, 2023, totaling RMB 39.018 million[34] Operational Efficiency - Accounts receivable turnover days decreased by 5 days to 184 days in the first half of 2024 compared to the same period in 2023[67] - The company achieved a 2.43x breakthrough in production targets for the geological engineering integration project in the North China market, receiving cash rewards from the client[45]

Revenue Growth - The innovative business segment, focusing on oilfield management, asset leasing, testing, and digital services, achieved a rapid growth of 37.4%, with its revenue contribution exceeding 51.0% of total revenue[13]. - In 2023, the company's overseas market revenue reached RMB 2,688.1 million, an increase of RMB 666.9 million or 33.0% compared to RMB 2,021.2 million in 2022, accounting for 60.6% of total revenue[21]. - Revenue from the Iraq market was RMB 2,210.9 million, up RMB 674.9 million or 43.9% from RMB 1,536.0 million in 2022, representing 49.8% of total revenue[24]. - The company recorded a decrease in revenue from other overseas markets, which amounted to RMB 477.2 million, down RMB 8.0 million or 1.7% from RMB 485.2 million in 2022, accounting for 10.8% of total revenue[25]. - The Chinese market revenue increased to RMB 1,746.7 million, a rise of RMB 253.0 million or 16.9% from RMB 1,493.7 million in 2022, representing 39.4% of total revenue[21]. - In 2023, Anton Oilfield Services Group achieved a revenue of RMB 4.43 billion, marking a historical high with a year-on-year increase of 26.2%[41]. - The company's revenue for 2023 was RMB 4,434.8 million, an increase of RMB 919.9 million or 26.2% compared to RMB 3,514.9 million in 2022[124]. Profitability and Financial Performance - The net profit attributable to shareholders, excluding one-time gains from a USD debt repurchase, was approximately RMB 200 million, reflecting an 18.5% year-on-year growth[41]. - Operating profit decreased to RMB 600.7 million, down RMB 64.5 million or 9.7% from RMB 665.2 million in 2022, primarily due to a one-time gain from a USD bond repurchase in 2022[51]. - Net profit fell to RMB 220.6 million, a decrease of approximately 25.9% from RMB 297.6 million in 2022[51]. - The company's equity holders' profit was RMB 196.5 million, down RMB 97.3 million or about 33.1% from RMB 293.8 million in 2022[51]. - Financial expenses for 2023 were RMB 195.1 million, a decrease of RMB 56.2 million or 22.4% from RMB 251.3 million in 2022[109]. - The company declared a dividend of RMB 0.013 per share, totaling RMB 39 million[41]. Operational Efficiency and Innovations - The company has accelerated its digital and intelligent transformation, launching a series of AI solutions tailored for the oil and gas industry[19]. - The real-time iterative fracturing technology has been applied in over 100 wells in various shale gas and oil fields, demonstrating significant results in risk control and efficiency enhancement[26]. - The company is focusing on cash flow management innovations to enhance liquidity and reduce cash outflow through meticulous management of operations and supply chains[73]. - The company aims to enhance operational efficiency through management reforms and optimization while expanding its global business[98]. - The company introduced eight comprehensive solutions for oil and gas development, focusing on sustainable development and AI integration[101]. Sustainability and Environmental Impact - The company achieved a 2.7% reduction in greenhouse gas emissions per unit compared to 2022, while indirectly helping clients reduce emissions by 19,972.4 tons of CO2 equivalent[20]. - The company is actively promoting green development solutions in its asset leasing business, aiming for net-zero emissions in oil and gas development[63]. - The company is committed to sustainable development, as highlighted in its separate sustainability report for 2023[198]. Market Strategy and Expansion - The company plans to further expand its global market presence, particularly in the Middle East, Central Asia, Africa, and Southeast Asia[43]. - The company anticipates ongoing opportunities in the oil and gas sector due to geopolitical conflicts and the global energy transition towards efficiency and sustainability[120]. - The group closely monitors market conditions and adjusts its market strategies accordingly to ensure stable business development[163]. Research and Development - The company invested RMB 111.7 million in R&D in 2023, a 39.1% increase from RMB 80.3 million in the previous year[97]. - Research and development expenses increased to RMB 111.7 million in 2023, up RMB 31.4 million or 39.1% from RMB 80.3 million in 2022[130]. Employee and Corporate Governance - The total number of employees as of December 31, 2023, was 6,510, an increase of 681 from the previous year, with overseas employees accounting for 51.7%[99]. - The company plans to continue focusing on talent recruitment and training, enhancing its workforce to support long-term sustainable development[119]. - The company has adhered to the Corporate Governance Code as per the listing rules during the fiscal year ending December 31, 2023[178]. Shareholder Information - The board proposed a final dividend of RMB 0.013 per share, totaling RMB 39 million for the year ended December 31, 2023, compared to no dividend in 2022[146]. - The company will suspend share transfer registration from May 30, 2024, to June 3, 2024, for shareholders entitled to the proposed final dividend[185].