Summary of Key Points Core Viewpoint - The company has announced the progress of external guarantees, specifically signing an irrevocable guarantee agreement with China Merchants Bank Chengdu Branch to provide a guarantee for its subsidiary, Beiken Energy (Chengdu) Co., Ltd., with a maximum limit of RMB 30 million [2][3]. Group 1: Guarantee Overview - The company approved a total external guarantee limit of up to RMB 420 million for its subsidiaries for the year 2025, with specific limits based on their asset-liability ratios [1]. - The guarantee for entities with an asset-liability ratio of 70% or below is capped at RMB 370 million, while those above 70% are limited to RMB 50 million [1]. Group 2: Guarantee Progress - The company signed a guarantee agreement with China Merchants Bank Chengdu Branch, covering all debts under a credit agreement with a maximum limit of RMB 30 million [2]. - The guarantee amount includes RMB 20 million for new credit and RMB 10 million for the renewal of previously issued credit guarantees [4]. Group 3: Basic Information of the Guaranteed Entity - Beiken Energy (Chengdu) Co., Ltd. was established on June 18, 2021, with a registered capital of RMB 50 million and is a wholly-owned subsidiary of the company [5][6]. - The company is not listed as a dishonest executor [5]. Group 4: Guarantee Contract Details - The guarantee covers the principal balance of loans and other credit amounts provided by China Merchants Bank Chengdu Branch, with a maximum limit of RMB 30 million [6]. - The guarantee period extends from the effective date of the guarantee agreement until the maturity of each loan or financing, plus an additional three years [7]. Group 5: Cumulative External Guarantees - As of the announcement date, the total external guarantee balance of the company and its subsidiaries is RMB 228.5 million, accounting for 33.99% of the latest audited net assets attributable to shareholders [8].

Group 1 - The core point of the announcement is that Beiken Energy has disclosed its total external guarantee balance, which amounts to RMB 22,850.00 million, representing 33.99% of the company's most recent audited net assets attributable to shareholders [2] - The company and its subsidiaries have no other external guarantees apart from those for subsidiaries within the consolidated financial statements [2] - There are no overdue guarantees, guarantees involved in litigation, or guarantees for which the company is liable due to a judgment against it [2]

证券代码：002828 证券简称：贝肯能源 公告编号：2026-001 贝肯能源控股集团股份有限公司 关于对外担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或重大遗漏。 一、担保情况概述 贝肯能源控股集团股份有限公司（以下简称"公司"）分别于 2025 年 4 月 17 日和 2025 年 5 月 9 日召开了第五届董事会第二十二次会议和 2024 年年度股 东会，审议通过了《关于 2025 年度对外担保额度预计的议案》，同意公司及下 属子公司在 2025 年度为公司全资子公司新疆贝肯装备制造有限公司、贝肯能源 （成都）有限责任公司（以下简称"贝肯成都"）及贝肯成都全资子公司贝肯能 源（北京）有限责任公司、贝肯（新疆）能源有限责任公司、新疆贝肯化学有限 公司提供担保额度合计不超过人民币 4.2 亿元（含）。其中，对资产负债率 70% （含）以下的担保对象提供担保的额度不超过人民币 37,000.00 万元，对资产负 债率 70%以上的担保对象提供担保的额度不超过人民币 5,000.00 万元。上述担 保额度有效期自股东会审议通过之日起十二个月。具体内容详见 ...

Industry Overview - Oil and gas equipment plays a crucial role in the exploration, production, transportation, storage, and processing of petroleum and natural gas resources [1][35]. Company Performance 中油工程 (China Oil Engineering) - Main business revenue reached 21.242 billion yuan, a year-on-year increase of 12.84% [3][37]. - Gross margin is 7.42%, net margin is 0.27%, and net profit attributable to shareholders is 53.2571 million yuan, down 49.19% year-on-year [5][39]. 中曼石油 (Zhongman Petroleum) - Main business revenue is 1.003 billion yuan, a year-on-year decrease of 11.44% [6][42]. - Net profit is 153 million yuan, with a year-on-year decline of 36.38%, and gross margin is 45.8% [6][44]. 准油股份 (Zhunyou Co., Ltd.) - Main business revenue is 91.7559 million yuan, with a year-on-year decrease of 20.2% [11][47]. - Net profit is -12.9405 million yuan, a significant decline of 983.39% year-on-year, and gross margin is -2.37% [12][49]. 惠博普 (HBP) - Main business revenue is 729 million yuan, a year-on-year increase of 115.5% [15][51]. - Gross margin is 6.29%, net margin is -4.76%, and net profit is -33.8646 million yuan, up 68.47% year-on-year [17][53]. 贝肯能源 (Beiken Energy) - Main business revenue is 282 million yuan, a year-on-year increase of 19.1% [19][55]. - Net profit is 15.193 million yuan, with a year-on-year growth of 8.73%, and gross margin is 19.01% [21][57]. 新锦动力 (Xinjindongli) - Main business revenue is 191 million yuan, a year-on-year increase of 279.13% [23][59]. - Net profit is 53.3474 million yuan, with a year-on-year growth of 247.12%, and gross margin is 35.96% [25][61]. 通源石油 (Tongyuan Petroleum) - Main business revenue is 308 million yuan, a year-on-year decrease of 2.31% [27][63]. - Net profit is 17.5887 million yuan, with a year-on-year growth of 31.16%, and gross margin is 25.47% [29][65]. 潜能恒信 (Qian Neng Heng Xin) - Main business revenue is 196 million yuan, achieving a year-on-year growth of 63.54% [31][67]. - Net profit is 9.618 million yuan, with a year-on-year growth of 181.36%, and gross margin is 36.52% [33][69].

Group 1 - Tongyuan Petroleum is a leading company in oil and gas perforation and fracturing technology, providing integrated oilfield services and excelling in unconventional oil and gas development [1][21] - The company has a strong technical capability and competitive edge in perforation technology and operational efficiency, benefiting from rising international oil prices and increased exploration investments [1][21] - The company is advancing smart and digital operations to enhance construction efficiency and cost control, ensuring sustained performance in the current oil service market [1][21] Group 2 - Qianeng Huanxin focuses on oil and gas exploration and development technology services, with a strong proprietary exploration interpretation system [2][22] - The company employs an innovative "technology for equity" model, participating in various oil and gas blocks, which enhances its revenue structure as exploration results convert to production [2][22] - Increased global oil company capital expenditures during the oil price upcycle are driving demand for the company's technical services [2][22] Group 3 - China Oil Engineering is a core engineering construction platform under PetroChina, specializing in full-chain oil and gas engineering contracting [3][23] - The company has a robust order book and is expanding its business internationally, particularly under the Belt and Road Initiative [3][23] - The company is also diversifying into green low-carbon businesses, enhancing its long-term growth potential [3][23] Group 4 - Blue Flame Holdings is a leading company in coalbed methane exploration and development, with significant resource reserves and extraction capabilities [4][24] - The company benefits from supportive policies for clean energy and rising demand for coalbed methane, leading to improved sales and profit margins [4][24] - The company is expanding its production capacity and pipeline layout, ensuring stable growth in performance [4][24] Group 5 - Zhun Oil Co. specializes in oilfield technical services in Xinjiang, maintaining strong partnerships with local oil companies [5][25] - The company is well-positioned to benefit from increased oil production and maintenance demands due to rising oil prices [5][25] - The company has a flexible operating mechanism that allows it to adapt quickly to the needs of small oil fields and unconventional oil and gas development [5][25] Group 6 - Zhongman Petroleum is a private enterprise with a full industry chain in oil and gas, achieving dual-driven growth through technical services and resource development [6][26] - The company has seen significant improvements in production and sales revenue due to rising oil prices [6][26] - The company is recognized for its project management capabilities and is positioned for strong growth in the recovery phase of the industry [6][26] Group 7 - Huibo Pu specializes in oilfield ground engineering and environmental protection, with leading technology in oil-water separation and wastewater treatment [7][27] - The company is experiencing increased demand for its services due to rising oil and gas development investments [7][27] - The company is expanding its presence in overseas markets, enhancing its competitiveness [7][27] Group 8 - CNOOC Services is a leading offshore oil and gas exploration and development service provider, with a comprehensive service offering [8][29] - The company benefits from increased capital expenditures in offshore oil and gas due to rising oil prices [8][29] - The company is expanding its international market presence, enhancing its competitive position globally [8][29] Group 9 - Beiken Energy focuses on drilling engineering and has a strong competitive position in the drilling sector [9][30] - The company is experiencing significant growth in work volume and revenue due to rising oil prices [9][30] - The company is expanding its overseas business, particularly in the Middle East and Central Asia [9][30] Group 10 - Bomaike specializes in high-end marine engineering equipment manufacturing, with a strong international competitive edge [10][31] - The company is seeing increased demand for its modules due to the recovery of global offshore oil and gas development [10][31] - The company is also diversifying into offshore wind and new energy modules, enhancing its long-term growth potential [10][31] Group 11 - Intercontinental Oil and Gas focuses on overseas oil and gas development, with high-quality resource blocks [11][32] - The company is improving its financial performance due to rising oil prices and stable production growth [11][32] - The company is optimizing its asset structure and increasing operational efficiency [11][32] Group 12 - Sinopec Oil Services is a leading oil service provider in China, with a comprehensive service network across major oil and gas production areas [12][33] - The company is benefiting from increased capital expenditures in upstream operations due to rising oil prices [12][33] - The company is improving its profitability and operational efficiency, positioning itself for sustained growth [12][33] Group 13 - Shouhua Gas focuses on unconventional natural gas development, with stable resource reserves and customer channels [13][34] - The company is benefiting from rising natural gas prices linked to oil prices, leading to improved sales and profitability [13][34] - The company is expanding its urban gas business, enhancing its resilience and growth potential [13][34] Group 14 - China National Offshore Oil Corporation is the largest offshore oil and gas producer in China, with strong cost control and profitability [14][36] - The company is experiencing significant revenue and profit growth due to rising oil prices [14][36] - The company is committed to increasing production in key offshore areas, ensuring long-term growth [14][36] Group 15 - CNOOC Engineering is a leading marine oil and gas engineering construction company, with a strong order book and growth potential [15][37] - The company is benefiting from increased investments in offshore oil and gas development [15][37] - The company is also diversifying into offshore wind and renewable energy projects [15][37] Group 16 - Guanghui Energy is a comprehensive energy service provider with a diverse product portfolio [16][38] - The company is experiencing improved profitability due to rising oil prices and strong sales growth [16][38] - The company is also expanding into new energy and green chemical businesses, enhancing its long-term growth potential [16][38] Group 17 - CNOOC Development is a comprehensive energy service platform with a focus on oilfield technical services and energy logistics [17][39] - The company is seeing strong demand for its services due to increased offshore oil and gas investments [17][39] - The company is expanding into innovative businesses such as offshore renewable energy and carbon assets [17][39] Group 18 - New Natural Gas focuses on natural gas extraction and sales, with a complete upstream and downstream layout [18][40] - The company is benefiting from rising natural gas prices linked to oil prices, leading to improved profitability [18][40] - The company is expanding its production capacity and market reach, ensuring stable growth [18][40] Group 19 - ST Xinchao focuses on overseas oil and gas asset development, with significant resource value appreciation due to rising oil prices [19][41] - The company is improving its operational efficiency and cash flow through debt optimization [19][41] - The company is positioned for significant performance and valuation recovery in the current industry cycle [19][41] Group 20 - Shandong Molong is an important player in the oil machinery equipment sector, manufacturing key oil extraction equipment [20][42] - The company is experiencing increased demand for its products due to rising oil prices and investment in oil extraction [20][42] - The company is enhancing its competitiveness through technology upgrades and expanding into overseas markets [20][42] Group 21 - Jerry Holdings is a leading company in the oil and gas equipment and service industry, specializing in high-end oil and gas equipment manufacturing [21][44] - The company is benefiting from increased demand for its products due to the growth in unconventional oil and gas development [21][44] - The company is expanding its presence in international markets and diversifying into new energy equipment [21][44]

Core Viewpoint - The oil and gas sector is experiencing a strong upward trend, with multiple companies seeing significant stock price increases [1] Group 1: Company Performance - Companies such as Junyou Co., Huibo Group, Beiken Energy, Tongyuan Petroleum, Intercontinental Oil & Gas, Sinopec Oilfield Service, and Zhongman Petroleum have reached their daily price limits [1] - Potential Energy, Keli Co., and other firms have seen stock price increases exceeding 15% [1] - Other companies including Bomai Ke, CNOOC Services, Blue Flame Holdings, Oil Development, and China National Offshore Oil Corporation are also experiencing price increases [1]

Financing Progress - Beiken Energy has adjusted its plan for a private placement of A-shares, reducing the number of shares to be issued to no more than 53.235474 million, with a total fundraising amount not exceeding 348 million yuan, aimed at supplementing working capital and repaying debts. The application documents have been revised as of December 30, 2025, but still require approval from the Shenzhen Stock Exchange and registration consent from the China Securities Regulatory Commission, leaving the final outcome uncertain [2] Project Development - The Canadian oil and gas exploration and development project, invested by Beiken Energy through its subsidiary, has completed the completion of four horizontal wells, with production expected to commence between the end of 2025 and early 2026. According to the feasibility study report, the pre-tax investment payback period is approximately 2.6 years, which may bring growth potential to the company's future performance, although actual production timing and benefits are subject to official announcements [3] Recent Stock Performance - On January 29, 2026, Beiken Energy's stock price hit the daily limit, reaching 14.56 yuan, with a rise of 9.97% and a trading volume of 880 million yuan, indicating a net inflow of main funds. As of February 11, 2026, the stock price was reported at 12.91 yuan per share, reflecting a 21.11% increase since the beginning of the year, with a cumulative increase of 2.30% over the last five trading days. The oil and gas service sector has seen increased activity due to oil price fluctuations and geopolitical factors, with the company focusing its business in the southwest regions and having a total contract amount exceeding 1.5 billion yuan as of September 2025. However, the industry's prosperity is highly correlated with oil prices, necessitating attention to macro policies and energy market changes [4] Operating Performance - For the first three quarters of 2025, Beiken Energy reported an operating income of 747 million yuan, representing a year-on-year increase of 23.38%, and a net profit attributable to the parent company of 29.014 million yuan, up 19.21%. However, the full-year performance will need to await the annual report disclosure [5]

Group 1 - The core point of the article is that Beiken Energy disclosed its total number of shareholders, which is 39,342 as of September 30, 2025 [2]

Market Overview - The oil service engineering sector experienced a significant decline of 7.68% on February 2, with Keli Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1] Individual Stock Performance - Keli Co., Ltd. (stock code: 920088) saw a closing price of 42.50, down 17.95% with a trading volume of 107,400 shares and a transaction value of 472 million [1] - Tongyuan Petroleum (stock code: 300164) closed at 11.05, down 14.21%, with a trading volume of 2,407,900 shares and a transaction value of 2.698 billion [1] - Potential Energy Holdings (stock code: 300191) closed at 27.31, down 12.83%, with a trading volume of 369,800 shares and a transaction value of 1.038 billion [1] - Other notable declines include Zhongman Petroleum (down 10.00%), Zhun Oil Co., Ltd. (down 9.98%), and PetroChina Oilfield Services (down 9.97%) [1] Capital Flow Analysis - The oil service engineering sector experienced a net outflow of 752 million from institutional investors and 157 million from speculative funds, while retail investors saw a net inflow of 909 million [1] - Specific stocks such as Keli Co., Ltd. had a net outflow of 543.96 million from institutional investors, indicating significant selling pressure [2] - Other stocks like PetroChina Oilfield Services and Beiken Energy also faced substantial net outflows from institutional and speculative investors, while retail investors showed interest in these stocks [2]

Core Viewpoint - The domestic precious metals market experienced a historic shock on February 2, 2026, with significant declines in futures and stocks, prompting the Shanghai Gold Exchange to implement emergency risk control measures to stabilize the market [2][3][4]. Market Reaction - On February 2, the main silver futures contract on the Shanghai Futures Exchange hit the limit down, while gold futures fell over 10%, leading to a collective drop in the A-share precious metals sector, with over ten stocks hitting the limit down [2][6][7]. - The spot gold price fell below $4600 per ounce, with an intraday decline of 6.25%, reflecting a broader panic in the market [2][9]. Regulatory Response - The Shanghai Gold Exchange issued an urgent announcement to adjust the margin levels and price fluctuation limits for silver deferred contracts, aiming to curb excessive volatility and maintain market stability [3][4]. - The margin for silver contracts was raised from 20% to 26%, and the price fluctuation limit was increased from 19% to 25% in response to significant price movements [3][4]. Underlying Factors - The recent volatility in the precious metals market was attributed to multiple factors, including external liquidity concerns, changes in Federal Reserve policies, and panic selling among investors [11][12][14]. - The sharp decline in international gold prices, which fell over 12% in a single day, and the extreme volatility in silver prices, which dropped over 36%, were significant contributors to the market's instability [4][11]. Broader Market Impact - The panic in the precious metals market led to a domino effect, causing declines in related sectors such as oil and gas and telecommunications, with many stocks in these sectors also experiencing significant drops [10][11]. - The domestic commodity futures market saw widespread declines, with various precious metal futures hitting limit down, reflecting a broader market retreat [8][10]. Future Outlook - The long-term outlook for precious metals remains influenced by several key variables, including Federal Reserve policy adjustments, global liquidity changes, and geopolitical uncertainties [27][28]. - Despite the short-term volatility, the fundamental drivers for gold's long-term value, such as ongoing monetary easing and strong central bank demand, remain intact [24][25].