Core Viewpoint - Antonoil Services (03337) has seen a significant increase in stock price, attributed to frequent share buybacks and robust business growth, particularly in new project developments in Iraq and Malaysia [1] Group 1: Stock Performance - Antonoil Services' stock rose over 5% in the afternoon session, currently trading at 1.12 HKD with a transaction volume of 11.63 million HKD [1] - The company has conducted multiple share buybacks this year, totaling 37.32 million shares repurchased for a total expenditure of 39.82 million HKD [1] Group 2: Business Developments - The company has secured a 25-year development right for the Dhufriyah oil field in Iraq, marking a new era as an independent operator in oil and gas field development [1] - Antonoil Services has successfully initiated the first onshore natural gas commercialization project in Malaysia's Sarawak region, enhancing its foothold in the Malaysian market [1]

Core Insights - The company achieved significant revenue growth in H1 2025, with total revenue reaching 2.63 billion RMB, a year-on-year increase of 20.9%, and net profit of 170 million RMB, up 55.9% [1][2] - The company is expanding its new business models, including independent operations in oil and gas field development, which opens new growth opportunities [1] Financial Performance - Revenue breakdown for H1 2025: Oilfield technology services (1.21 billion RMB, +22.9%), oilfield management services (1.00 billion RMB, +11.2%), testing services (200 million RMB, +21.7%), and drilling rig services (220 million RMB, +74.2%) [1] - Comprehensive gross margin stood at 28.7%, a decrease of 1.5 percentage points year-on-year, while the net profit margin improved to 6.3%, an increase of 1.2 percentage points [1] Market Performance - Revenue from the Chinese market reached 950 million RMB (+43.0%), while the Iraqi market generated 1.45 billion RMB (+16.6%), and other overseas markets contributed 230 million RMB (-13.9%) [2] - New orders in the Chinese market totaled 1.63 billion RMB, remaining stable year-on-year, while new orders in Iraq were 2.51 billion RMB, down 11.4%. Other overseas markets saw new orders of 610 million RMB, a significant increase of 54.5% [2] Strategic Developments - The company has secured a 25-year development right for the Dhufriyah oil field in Iraq, marking a new era in oil and gas field development as an independent operator [1] - The company is also focusing on natural gas utilization, successfully launching Malaysia's first onshore natural gas commercialization project [1]