Financial Data and Key Metrics Changes - The company has seen fluctuations in the exchange rate of RMB, impacting exchange rate gains and losses significantly throughout 2025 [82][84] - R&D expenses have increased from CNY 1.6 billion in 2021 to CNY 2.2 billion in 2025, accounting for 4% of total revenue [65] - The input/output ratio for R&D investment improved from RMB 1 to RMB 2.5 in 2021 to RMB 1 to RMB 3.1 in 2025 [67] Business Line Data and Key Metrics Changes - The technology segment accounted for 55% of total revenue and 72% of profit in 2025, indicating a strong contribution to overall performance [71] - The operating profit margin for the technology segment was 16% in 2025, outperforming industry peers despite a slight year-on-year decline [75] - The contribution of the technology segment to overseas revenue increased from 14% in 2021 to 24% in 2025 [73] Market Data and Key Metrics Changes - The company operates in five major continents across 13 countries with 120 operation sites, showcasing a diversified market presence [80] - The company has established long-term agreements in the North Sea region, which helps in managing costs and enhancing efficiency [111] Company Strategy and Development Direction - The company focuses on five key development strategies: technology-driven, cost leadership, integration, internationalization, and regional development [11] - During the 15th Five-Year Plan, the company aims to solidify its established strategies while adapting to changes in the development environment [117] - The company plans to increase investment in equipment while maintaining a stable gearing ratio, indicating a focus on sustainable growth [59] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic about oil prices despite geopolitical tensions affecting demand and supply dynamics [31][34] - The company believes that the ongoing conflict in the Middle East will be temporary and does not plan to alter its internationalization strategy [101] - Management emphasized the importance of enhancing competitiveness through technology and integration strategies, which have accounted for 40%-50% of revenue during the previous Five-Year Plan [99] Other Important Information - The company has completed two M&A projects in 2025, indicating a trend of consolidation in the industry [43] - The company is focusing on optimizing its debt structure, having issued CNY 5 billion in debt at a lower interest rate to reduce financing costs [57] Q&A Session Summary Question: Impact of Middle East conflict on technology and drilling segments - Management confirmed that operations in Iraq, Saudi Arabia, and Kuwait have not been significantly impacted, with ongoing maintenance and operations continuing [24][26] Question: Oil price trend and adjustments to development plans - Management noted that while there is excess capacity and weaker demand, they remain cautiously optimistic about future oil prices and will not change their internationalization strategy [31][34] Question: Reasons behind profitability growth in drilling rigs - Management highlighted the acceleration of internationalization, increased domestic production, and improved utilization of large-scale equipment as key factors [40][41] Question: Changes in pricing mechanisms for marine support segment - Management stated that they are exploring mechanisms to pass on oil price increases to customers, emphasizing the win-win nature of long-term agreements [111] Question: Plans for new semi-submersible rigs and overseas development - Management indicated that they are focusing on self-construction and R&D for new rigs while continuing to diversify their market presence despite geopolitical challenges [94][99]

Core Insights - EpicQuest Education Group International Limited is expanding its graduate degree program into the South Asia market, which has the potential to generate revenue of up to $2.5 million over the next three years [1] Group 1: Partnership and Program Details - Davis University has entered into a non-binding Memorandum of Understanding with M Square Business Solutions USA Inc. to offer an online Masters of Science in Management Program [1][2] - The MOU designates Davis as the sole academic authority for the program, while MSM will handle recruitment, enrollment, teaching, and administrative services [2] - Students can enroll in three program tracks based on their foundational course requirements [2] Group 2: Internationalization Strategy - EpicQuest Education's internationalization strategy aims to expand student enrollment and academic programming through collaborative programs with its institutions [3] - The strategy focuses on providing globalized learning experiences that prepare students for careers in the global economy [3] - Recent growth in international student enrollment is expected to lead to strong and sustainable financial results for the company [3] Group 3: Company Background - Davis University, founded in 1858, is a private career-training university located in Toledo, Ohio, offering specialized professional training and flexible coursework [4] - The university has agreements with several four-year US universities for transfer pathways and articulation agreements with international schools [4] - EpicQuest Education operates EduGlobal College in Canada and holds a 70% ownership stake in Davis University, enhancing its educational offerings [5][6]

Core Viewpoint - EpicQuest Education Group International Limited has announced an Agency Agreement with Veritas Global Uni (Pvt) Ltd to recruit students for Davis University's online graduate programs, aiming to enhance accessibility to higher education for diverse regions [1][2]. Group 1: Agreement Details - The Agreement allows Veritas to act as a non-exclusive recruitment agent for Davis University's online Masters of Science in Management and Graduate Foundational programs [1][2]. - Target regions for recruitment include China, Hong Kong, Singapore, the Middle East, and Southeast Asia, excluding Sri Lanka due to an existing agreement with another party [2]. Group 2: Strategic Importance - The collaboration is part of EpicQuest Education's internationalization strategy, which aims to expand student enrollment and academic offerings [3]. - The initiative is designed to support students in pursuing meaningful careers by providing flexible online education options that enhance employability [2][3]. Group 3: About Davis University - Davis University, founded in 1858, is a private career-training institution in Toledo, Ohio, offering specialized professional training and flexible coursework [4]. - The university has agreements with several four-year US universities for transfer pathways and articulation agreements with international schools [4]. Group 4: About EpicQuest Education - EpicQuest Education provides comprehensive education solutions for students seeking degrees in the US, Canada, and the UK, and owns EduGlobal College in British Columbia [5]. - The company has established a wholly owned subsidiary, Gilmore Inv LLC, to offer international educational programs related to kinesiology and recreation education [6].

Core Viewpoint - EpicQuest Education Group International Limited has announced a reverse stock split of its ordinary shares at a ratio of 1-for-16, along with amendments to its Memorandum and Articles of Association to reduce the authorized number of shares and increase the par value per share [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will take effect on February 17, 2026, with shares trading on a split-adjusted basis on the Nasdaq Capital Market under the new CUSIP number G3104J142 [2]. - The number of outstanding ordinary shares will decrease from approximately 23,671,667 to about 1,479,479 shares as a result of the reverse stock split [3]. - No fractional shares will be issued; instead, cash will be paid for fractional shares based on the fair value determined by the closing price on the first trading day after the split [4]. Group 2: Company Strategy and Operations - EpicQuest Education's internationalization strategy focuses on collaborative programs with its institutions, Davis University and EduGlobal College, to enhance student enrollment and academic offerings [6]. - The company operates EduGlobal College in British Columbia, Canada, and holds a 70% ownership stake in Davis University in Toledo, Ohio, which provides career training [7]. - EpicQuest Education has established a wholly owned subsidiary, Gilmore Inv LLC, in Ohio to offer international educational programs related to kinesiology and recreation education [7].