Core Viewpoint - The company reported a resilient performance in the second quarter, driven by increased demand for oil and gas efficiency solutions amid fluctuating international oil prices and geopolitical tensions [1] Group 1: Financial Performance - The company achieved new orders of RMB 30.12 billion in the second quarter, representing a 14.2% increase year-on-year [1] - New orders from the Iraq market amounted to approximately RMB 18.12 billion, up 20.5% compared to the same period last year [2] - New orders from other overseas markets reached about RMB 2.87 billion, reflecting a significant increase of 69.3% year-on-year [2] - In contrast, new orders from the Chinese market were approximately RMB 9.13 billion, showing a decline of 5.4% year-on-year [2] Group 2: Market Developments - The company successfully renewed integrated oilfield management project orders in Iraq and secured contracts for various services, contributing to a 20.5% increase in new orders in that market [2] - The company made its first breakthrough in the Malaysian market by winning a natural gas utilization project, laying a solid foundation for future expansions [2] - In Chad and Kazakhstan, the company won contracts for mud technology services and downhole tool sales, respectively, contributing to the overall growth in overseas markets [2] Group 3: Operational Efficiency - The company is focused on lean operations and efficient project execution, with significant progress in the Iraq market, including the expansion of the Defer Oilfield contract area by approximately 20% [3] - The establishment of a dedicated project team for the natural gas commercialization project in Malaysia has been recognized for its technical coordination and execution capabilities [3] - In China, the company is emphasizing comprehensive solutions and technological breakthroughs, achieving a significant production increase through innovative techniques [3] Group 4: Order Backlog - As of June 30, 2025, the company has an order backlog of approximately RMB 163.52 billion, with the Iraq market accounting for about RMB 72.24 billion, representing 44.2% of the total backlog [4] - The Chinese market holds an order backlog of approximately RMB 76.14 billion, making up 46.5% of the total [4] - Other markets contribute approximately RMB 15.14 billion to the backlog, accounting for 9.3% [4]