HBP(SZ:002554) Zheng Quan Shi Bao·2025-11-21 16:32Core Viewpoint - The company, Huibo Po (002554), has been awarded a contract worth $225 million (approximately 1.596 billion RMB) for the Naft Khana oilfield rehabilitation project in Iraq, which is expected to significantly impact its revenue and market position in the Middle East [2][3]. Group 1: Contract Details - The contract awarded to the company includes engineering, procurement, operation, and maintenance (EPCOM) services [2]. - The contract is expected to be temporarily accepted within 18 months from the effective date, followed by 36 months of operation and maintenance services [2]. - The company has no prior significant business dealings with NK Petroleum Company, the operator of the oilfield [2]. Group 2: Financial Impact - The contract amount represents 61.20% of the company's audited revenue for the fiscal year 2024, indicating a substantial contribution to future earnings [3]. - The company reported a revenue of 1.608 billion RMB for the first three quarters of 2025, a slight decrease of 0.17% year-on-year, while net profit attributable to shareholders increased by 113.73% [4]. - The third quarter revenue was 729 million RMB, showing a significant year-on-year growth of 115.50% [4]. Group 3: Market Position and Strategy - The contract win is expected to strengthen the company's market position in the Middle East and enhance its competitiveness and market share [3]. - The company aims to focus on high-value projects and expand its presence in overseas markets, despite facing challenges such as increased market entry barriers and intense competition [4].