ZPEC(SH:603619) Sou Hu Cai Jing·2025-05-24 15:09Core Viewpoint - Zhongman Petroleum has made significant progress in exploration and resource accumulation in both domestic and international projects, while actively addressing risks associated with international oil price fluctuations through strategic measures and digital transformation initiatives [1][2][3]. Group 1: Company Performance and Market Position - As of May 23, 2025, Zhongman Petroleum's stock closed at 17.23 yuan, down 0.4% from the previous week, with a total market capitalization of 7.966 billion yuan, ranking 6th in the oil service engineering sector [1]. - The company reported a substantial increase in cash reserves, reaching 2.542 billion yuan by the end of 2024, reflecting a year-on-year growth of 103.39% [3]. Group 2: Exploration and Resource Development - In 2024, Zhongman Petroleum achieved exploration progress in the domestic Wensu block and overseas projects in Iraq, with geological reserves estimated at approximately 133 million tons across multiple oil fields [1][2]. - The company has reported newly confirmed geological reserves of 13.2342 million tons of oil and 1.402 billion cubic meters of natural gas in various fields, with significant reserves in the Iraq EBN and MF blocks projected to reach 1.808 billion tons of oil [1][2]. Group 3: Strategic Initiatives - Zhongman Petroleum has developed multiple measures to mitigate risks from international oil price volatility, leveraging its integrated business model and low-cost competitive advantages to maintain profitability [2][3]. - The company is committed to deepening its "resource + technology" dual-engine strategy, focusing on building a resource reserve system that is rooted domestically while extending its reach internationally [2][3]. - The company plans to accelerate the development of the Iraq EBN and MF blocks and enhance exploration efforts in the Wensu block to increase production [2][3]. Group 4: Communication and Disclosure - Zhongman Petroleum emphasizes the importance of high-quality information disclosure and investor communication, continuously improving transparency and readability of its reports [2].