惠博普：斩获中东EPCOM大单 2025前三季净利翻倍增长

Core Viewpoint - The company, Huayou Huibo (002554), has won a contract for the Naft Khana oilfield rehabilitation project in Iraq, valued at approximately $225.22 million, which will enhance its market position in the Middle East and support its international expansion efforts [1][2]. Group 1: Project Details - The contract for the Naft Khana oilfield includes engineering, procurement, operation, and maintenance (EPCOM) services, with a project duration of 18 months for temporary acceptance and an additional 36 months for operation and maintenance [2]. - The project is awarded by NK Petroleum Company Limited, which operates the Naft Khana oilfield and has no affiliation with the company [2]. Group 2: International Expansion and Experience - The company has expanded its international presence, covering over 30 countries and more than 50 oilfields, particularly in the Gulf Cooperation Council (GCC) countries, where it has obtained access qualifications from several oil and gas companies [2]. - The recent contract win reflects the company's successful transition from a traditional equipment supplier to an EPC contractor, showcasing its experience and competitive advantage in international markets [3]. Group 3: Financial Performance and Industry Position - As of the end of 2024, the company has an order backlog of 5.046 billion yuan, primarily from overseas oil and gas engineering services, which is expected to significantly boost net profits in 2025 [4]. - The contract for the Naft Khana project represents approximately 61.20% of the company's audited revenue for 2024, indicating a substantial impact on its financial performance for 2026-2027 [4]. - The company reported a 107.14% year-on-year increase in net profit for the first three quarters, leading the oil service industry, with a significant revenue growth of 29.47% quarter-on-quarter in Q3 2025 [5].