Financial Data and Key Metrics Changes - Revenue for the first half of 2024 was approximately RMB 2.2 billion, representing a 50% increase year-over-year [2] - Profit attributable to equity holders amounted to approximately RMB 106 million, an increase of 8.2% [2] - Free cash flow was RMB 197 million, reflecting a 15.2% increase compared to the same period last year [2] Business Line Data and Key Metrics Changes - Traditional businesses such as fracturing and drilling achieved operational records, with revenue from non-drilling rig services increasing by 24% [7] - Innovative businesses saw a 17% growth in revenues, with successful expansions into the Southeast Asian market [8] - The integrated oil field management project in Iraq was renewed for another year, indicating strong performance in innovative services [7] Market Data and Key Metrics Changes - The China market remained stable, focusing on natural gas and unconventional energy development [5] - The Iraq market experienced rapid growth as customers expanded production, contributing significantly to revenue [5] - The company expanded its presence in 14 new countries, capturing business opportunities and ensuring steady revenue growth in Africa, Southeast Asia, and Central Asia [6] Company Strategy and Development Direction - The company aims to expand into new global markets and upgrade services for green energy chains [13] - A focus on leveraging the Dufrya project to pursue new oil field management projects is part of the strategy [14] - The company is transitioning from traditional oil field solutions to green energy localized industry development in emerging markets [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the Iraqi market over the next five years, driven by larger-scale project opportunities [14] - The company plans to enhance profitability through refined operations and cash flow management [17] - Management highlighted the importance of digital sales efficiency in exploring new markets and cultivating growth opportunities [15] Other Important Information - The company resumed its dividend policy, paying out RMB 39 million in dividends and repurchasing 26 million shares, representing approximately 1% of total share capital [11][12] - Anton achieved recognition in ESG operations, being listed in S&P's sustainability yearbook 2024, marking a significant milestone for a Chinese oil service company [12] Q&A Session Summary Question: What is the focus for overseas market development and any new project opportunities? - The company sees stable growth in the China market and expects rapid growth in the Iraqi market over the next five years, while actively exploring new opportunities in over ten emerging countries [20][21] Question: What are the key dates and expected profits for the oil field project in Iraq? - The company has a clear timeline for the Dufrya oil field project, with expectations of stable returns over the next 25 years, not heavily affected by oil price fluctuations [30][31] Question: Has the company achieved large orders in the third quarter? - Orders have shown a good growth trend in the third quarter, with expectations for larger scale orders to be confirmed in the near future [32][34] Question: What is the plan for share buyback and separate listing? - The company plans to delay the separate listing due to strategic investor agreements but will continue to promote the listing process [36] Question: What is the company's cash flow management strategy? - The company has maintained a strong cash flow performance, with expectations for continued growth in free cash flow and effective cash flow operations [42][43]

Financial Data and Key Metrics Changes - In 2023, the company's revenue reached 4.4 billion RMB, representing a 26% increase from the previous year [4] - Profit attributable to equity holders was approximately 197 million RMB, a decrease of 33% due to a one-time bond repurchase gain in 2022 [4] - Excluding that gain, net profit attributable to equity holders was 195 million RMB, up 18% [5] - Free cash flow was about 500 million RMB, up 70% from last year [5] Business Line Data and Key Metrics Changes - Revenue from international business surpassed 60%, with a growth rate of over 33% [5][8] - Innovative business grew by more than 37.4%, with its revenue share reaching 51.8% [9] - Revenue in the Chinese market increased by 16.9%, driven by rapid growth in asset-light and hybrid precision engineering services [9] Market Data and Key Metrics Changes - In the Iraq market, major oil fields maintained full workload, contributing to steady business growth [8] - The Chinese market saw a quick recovery, with traditional business undergoing optimization and upgrades [9] - The company successfully applied completion tools in Algeria, further opening the market [8] Company Strategy and Development Direction - The company aims to transform into a global entity, focusing on green transformation and sustainable development [7][16] - Strategic plans for 2024 include deploying comprehensive solutions for the oil and gas industry and enhancing international business growth [17][19] - The company is also focusing on digitalization and platform-based development to improve operational efficiency [17][20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by the macroeconomic environment and competition, emphasizing the need for cost control and risk management [26][29] - The company is optimistic about future growth, aiming to achieve a revenue target of 1 billion USD soon [45] - Management highlighted the importance of global leadership and talent recruitment to support international business expansion [47][48] Other Important Information - The company announced a dividend payment of 339 million RMB, resuming its tradition of distributing 30% of profits to equity holders [15][35] - The asset leasing model is designed to help customers expand without significant capital investment, aligning with the industry's shift towards asset-light models [36][39] Q&A Session Summary Question: What are the strategic plans for overseas market deployment in 2024? - The company has identified three key regions: Iraq, West Africa, and emerging markets, with specific strategies for each [24][25] Question: What is the trend for the net profit margin? - The profit growth rate is lower than revenue growth due to macroeconomic pressures, but efforts are being made to improve margins through cost control and efficiency [26][27] Question: How long will the company maintain the integrated oil field management project in Iraq? - The project has a contract term of two years with potential extensions, and the company is actively pursuing further opportunities in Iraq and other regions [30][31] Question: What is the reason for the increase in other payables and receivables? - The increase is attributed to the expansion of the company's platform businesses, which facilitate transactions without occupying cash flow [33] Question: Can investors expect a stable dividend policy in the future? - The company aims to maintain its tradition of distributing 30% of profits as dividends, contingent on cash flow and business growth [35] Question: Will asset leasing conflict with the company's asset-light strategy? - The asset leasing model is designed to support customers' capital expenditure needs while promoting an asset-light approach [36][39]

Financial Data and Key Metrics Changes - In 2022, the revenue was RMB 3.5 billion, with a net profit attributable to shareholders of RMB 290 million, marking a substantial increase year on year and a return to pre-COVID levels [4][5] - Free cash flow reached RMB 430 million, an increase of approximately RMB 70 million, and return on equity exceeded pre-epidemic levels at 9.9%, up 7.3% since 2021 [11][12] - The gearing ratio decreased from 68.9% before the epidemic to 58.7%, and debt over EBITDA dropped from 4.6 to 2.0, indicating a more stable capital structure [13] Business Line Data and Key Metrics Changes - Revenue from overseas markets reached RMB 1.5 billion, an increase of 48%, while revenue from other overseas markets was RMB 490 million, up 16.2% [7] - New business products, including oilfield management, inspection, and asset leasing, contributed significantly to revenue, increasing by 23% year on year [8] - The precision engineering technology services achieved a threefold increase in local production, contributing to customer incentives beyond engineering service fees [9] Market Data and Key Metrics Changes - The domestic market maintained stable revenue despite pandemic challenges, with a return to growth trajectory [5][8] - The company plans to focus on the development of natural gas markets in China and expand into international markets, including Iraq and West Africa [16][17] Company Strategy and Development Direction - The company aims to become an innovative global leading oilfield services provider, focusing on differentiated competitive advantages and breakthrough contributions to customers [51][52] - Plans include promoting precision engineering technology, developing unique and innovative businesses, and leveraging data-driven operations to improve efficiency [14][15][26] - The launch of an e-commerce platform, AT Mall, aims to empower oil companies and suppliers, facilitating transactions and enhancing market presence [17][58] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in overcoming past challenges, with expectations for stable growth in the oil and gas development market as supply gaps widen [15][16] - The company anticipates that the cancellation of pandemic control measures will positively impact profit margins in 2023 [33] - Management highlighted the importance of innovation and tailored project solutions to enhance customer value and drive growth [56][57] Other Important Information - The wholly-owned subsidiary, Qiol Inspection Group, is set to spin off and list on the Shenzhen Stock Exchange by the end of 2025, with profit agreements in place with strategic investors [36][37] - The company has achieved a significant milestone in the Indonesian market, with a four to five times increase in overall order volume compared to previous years [37] Q&A Session Summary Question: What is the reason for the EBITDA margin drop in the group's segments? - The decrease is attributed to pandemic control measures affecting project execution in key markets, leading to a revenue drop of around RMB 450 million, while fixed costs remained [31] - Inflation also impacted margins, with rising raw material prices affecting cost delivery to customers [32] Question: What is the current status of the TOR inspection group's spin-off project? - The spin-off is planned for listing on the Shenzhen Stock Exchange by the end of 2025, with a profit requirement of RMB 130 million for this year, which is a 30% increase from 2022 [36][37] Question: Can you provide details on the company's cash on hand? - As of the end of 2022, the company had RMB 727 million in cash, with RMB 155 million from TOR's strategic investors included [37][38] Question: What is the company's CapEx expenditure plan for 2023? - The company plans to maintain consistent CapEx spending within impairment limits, focusing on asset leasing platform construction [45][46]