HBP(SZ:002554) Xin Lang Cai Jing·2026-01-12 01:18Core Viewpoint - Huibo Technology Co., Ltd. (惠博普) is undergoing a potential change in its controlling shareholder, with the current major shareholder, Changsha Water Group, planning to transfer 25%-30% of its shares to a state-owned mechanical equipment enterprise, which may lead to a change in the actual controller of the company [2][8]. Company Overview - Huibo was established in 1998 and went public in 2011 on the Shenzhen Stock Exchange (stock code: 002554), focusing on technology-driven solutions for oil and gas field process equipment [2][8]. - The company has evolved from a single equipment supplier to an integrated service provider, covering the entire production system of oil and gas fields [4][10]. Development Stages - The development of Huibo can be divided into three key phases: 1. Startup Phase (1998-2000): The company entered the market with proprietary products, achieving significant milestones such as winning contracts for oil and gas separation equipment [9]. 2. Business Expansion (2001-2010): Transitioned to a system integrator, becoming the first private enterprise to provide oil and gas processing equipment for offshore oil in 2003 and starting overseas expansion in 2004 [9]. 3. Scale and Internationalization (2011-Present): After going public, the company accelerated its expansion, with Changsha Water Group becoming the controlling shareholder in 2019 [9]. Core Business Segments - Huibo's core business includes: 1. Oil and Gas Engineering and Services (EPCC): Offering comprehensive services from feasibility studies to construction, with projects in over 30 countries [11]. 2. Environmental Engineering and Services: Focusing on wastewater treatment and environmental protection, with plans to participate in carbon capture projects [11]. 3. Oil and Gas Resource Development and Utilization: Leveraging technical advantages to engage in domestic and international oil and gas field development [11]. Recent Developments - Performance Improvement: In the first three quarters of 2025, the company reported total revenue of 1.608 billion yuan and a net profit of 10.53 million yuan, marking a year-on-year increase of 113.73% [11]. - New Project Launch: The company secured a contract for the Naft Khana oil field revival project in Iraq worth 225 million USD, expanding its presence in the Middle East [11]. - Control Change: The planned share transfer by Changsha Water Group may lead to a change in the actual controller of Huibo [11]. Future Strategic Planning - Digital Transformation: Aiming to create a comprehensive digital service platform for the energy sector, promoting smart oil fields and digital twin technologies [11]. - Dual Business Synergy: Strengthening collaboration between energy services and water environment sectors, leveraging the advantages of Changsha Water Group [11]. - Technological Innovation: Continued investment in carbon neutrality technologies and high-end equipment development to enhance core competitiveness [11].