Core Viewpoint - The announcement details the expiration of the lock-up period for the employee stock ownership plan (ESOP) of Yantai Jereh Petroleum Service Group Co., Ltd., which is set to end on June 26, 2025, following the completion of stock purchases on June 25, 2024 [1][2]. Summary by Sections Employee Stock Ownership Plan Details - The ESOP involved the purchase of 1,366,900 shares, representing 0.13% of the company's total share capital at the time of purchase, sourced from the company's repurchased shares [1]. - The lock-up period for the ESOP is 12 months, starting from June 27, 2024, to June 26, 2025 [1]. Post-Lock-Up Arrangements - After the lock-up period, the management committee will facilitate the release and potential sale of shares according to the established management guidelines and agreements signed by the shareholders [2]. - The ESOP will adhere to market trading rules and regulations, prohibiting stock trading during sensitive periods, specifically 15 days prior to announcements and during decision-making processes [2]. Duration, Changes, and Termination of the ESOP - The ESOP has a defined duration but can be extended with the approval of the management committee and the board of directors [2]. - Any changes to the ESOP must be approved by a meeting of the shareholders and subsequently by the board of directors [2]. - Upon termination of the ESOP, the assets will be liquidated within 30 working days, and distributions will be made to shareholders after tax deductions [2][3]. Other Notes - The company will continue to monitor the implementation of the ESOP and fulfill its information disclosure obligations as required by law [3].

Financial Data and Key Metrics Changes - Overall first quarter revenue was $303.1 million, up 2.1% year over year but down 11.7% sequentially [21] - Adjusted EBITDA for Q1 2025 was $62.5 million with margins of 20.6%, down 100 basis points year over year [22] - Earnings per share adjusted for charges and credits was 14 cents for Q1 2025, with charges impacting adjusted EBITDA being the lowest for many periods [23] - Cash flow from operations during Q1 2025 was $20.5 million, with free cash flow being negative $9.6 million due to increased Days Sales Outstanding (DSO) [24] - Gross debt as of March 31 was $366 million, with net debt at $288 million, maintaining a net debt to adjusted EBITDA ratio of 0.93 [25] Business Line Data and Key Metrics Changes - Year-over-year growth was observed in Abu Dhabi, Algeria, Kuwait, Iraq, and Libya, partially offset by a slow start in Saudi Arabia [21] - The sequential decrease in Saudi Arabia was mainly due to slowdowns in main projects during Ramadan [22] - The company expects to grow in Oman and UAE due to strong contract bases and new contract wins [12][21] Market Data and Key Metrics Changes - The overall market in the Middle East is expected to remain stable to slightly up, with Saudi Arabia experiencing a decline [82] - Kuwait is projected to be the biggest growth market due to added rigs and capacity [84] - North Africa is expected to see stable growth, with opportunities for significant market share increase [70] Company Strategy and Development Direction - The company is adapting its long-term strategy to right-size its fixed cost structure and reallocate resources to areas of growth [11] - The focus remains on countercyclical investing, with plans to capitalize on downturn opportunities [19][75] - The company aims to be a top player in every segment within the countries it operates, leveraging its existing relationships and market footprint [76] Management's Comments on Operating Environment and Future Outlook - The management highlighted the geopolitical and economic uncertainties impacting oil demand and supply, with expectations of a market reset [5][7] - Despite the challenges, the company remains optimistic about growth opportunities in the MENA region, particularly in gas development [31] - The outlook for 2025 remains unchanged, with expectations of revenue growth driven by recent contract wins and technology deployments [26] Other Important Information - The company is undergoing a tender process to convert outstanding warrants into equity to improve its capital structure [28] - The company has reshaped its back office and implemented new processes and controls over the past two years [28] Q&A Session Summary Question: How does Saudi upstream spending interplay with OPEC's actions? - Management indicated that Saudi Arabia's unconventional projects will continue to grow, while conventional activity is expected to decline [39][40] Question: What are the expectations for margins recovery? - Management stated that margins are expected to improve but will not return to 25% by year-end, aiming for recovery in 2026 [47][48] Question: What are the pricing trends in the Middle East? - Management noted that pricing is expected to soften due to increased competition and the nature of long-term contracts [55] Question: What growth opportunities exist in Kuwait? - Management highlighted that Kuwait is tendering for various contracts, and the company is well-positioned to capture significant market share [59] Question: What is the status of contracts in North Africa? - Management expects many contracts to be awarded in the second half of the year, with potential for significant growth in Libya and Egypt [67][70] Question: How does the company view joint ventures in the region? - Management expressed confidence in their market position and plans to invest during downturns rather than pursue joint ventures [75]

证券代码：002353 证券简称：杰瑞股份 公告编号：2025-041 烟台杰瑞石油服务集团股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 重要提示： 烟台杰瑞石油服务集团股份有限公司（以下简称"公司"或"杰瑞股份"）于 2025 年 案》。公司拟使用公司自筹资金及股票回购专项贷款，以集中竞价交易方式回购公司发行的 人民币普通股（A 股），用于股权激励或者员工持股计划，资金总额不低于人民币 15,000 万 元（含）且不超过人民币 25,000 万元，回购价格不超过 49.00 元/股，实施期限为自公司董 事会审议通过回购方案之日起 12 个月内。因公司在回购期间实施了 2024 年年度权益分派， 自股价除权、除息之日（即 2025 年 5 月 23 日）起，公司本次回购价格由不超过 49.00 元/ 股（含）调整为不超过 48.31 元/股（含）。具体情况详见公司披露于巨潮资讯网的 2025- 股份方案。具体内容详见公司披露于巨潮资讯网的 2025-040 号公告。 根据《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》的相关规定，回 ...

Group 1 - The company has received a surge in orders from the U.S., with a backlog totaling approximately $8 million, and plans to fulfill these orders within a month [3] - The company's precision parts are in high demand due to their competitive advantages, including a product lifespan exceeding 500 hours compared to less than 300 hours for similar products [3] - The company is a leading supplier for major global oil service companies and has consistently exported over $100 million annually, maintaining its position as the top exporter in its city [3] Group 2 - The company is diversifying its market presence by exploring new overseas markets, having developed 25 new clients in countries such as Canada, South Korea, and Saudi Arabia, with non-U.S. market orders totaling approximately $113,000 [4] - The company is focusing on upgrading its products to higher value-added components and tools, enhancing competitiveness through innovation and collaboration within the supply chain [4] - The company has established market development teams for regions like South America and Europe to expand its global business [4]

Group 1: Market Overview - The U.S. oil services companies are facing bearish sentiment due to tariff uncertainty, geopolitical issues, and market volatility [1] - Crude oil prices in the low $60 range discourage drilling activities, negatively impacting oil service companies [2] - OPEC+ nations' decision to increase output is contributing to the downward pressure on crude prices [2] Group 2: Investment Opportunities - Contrarian investors may see potential for crude oil prices to rise as the U.S. shifts towards onshore manufacturing [2] - Oil prices could rise even without demand growth; a drop to around $55 could lead major oil companies to cut production, eventually increasing prices [3] - Three oil services companies are highlighted as potential investment opportunities if oil prices increase [3] Group 3: Company-Specific Insights - Baker Hughes (NASDAQ: BKR) has a 12-month stock price forecast of $49.11, indicating a 36.26% upside, despite being down 8.7% in 2025 [4] - Baker Hughes reported record adjusted EBITDA and maintained full-year guidance, expecting to improve margins through operational efficiency [5] - Halliburton (NYSE: HAL) has a 12-month stock price forecast of $33.53, suggesting a 68.38% upside, with 51% of its revenue coming from international operations [7][8] - Halliburton's current and forward P/E ratios are below sector averages, making it an attractive investment option [9] - Schlumberger (NYSE: SLB) has a market cap over $46 billion and a 12-month stock price forecast of $52.44, indicating a 57.50% upside [10] - SLB's P/E ratio is fairly valued compared to the sector average but at a discount to historical averages [11]

Group 1 - Yangtze Power maintains a high dividend policy, indicating that future dividends may exceed 70% [1] - The company has a 10-year dividend commitment established in 2016, set to expire at the end of 2025 [1] - The management's open attitude towards dividend continuity reflects a commitment to shareholder interests [1] Group 2 - Beiken Energy plans to issue up to 54 million shares to Chairman Chen Dong, raising a maximum of 356 million yuan for working capital and debt repayment [2] - This issuance will result in a change of control, with Chen Dong becoming the new controlling shareholder [2] - Investors should monitor Chen Dong's strategic plans and performance under his leadership [2] Group 3 - The silicon industry is experiencing weak demand, with some companies considering early maintenance or adjustments to production loads [3] - The price range for n-type granular silicon is reported at 35,000 to 37,000 yuan per ton, with an average price decrease of 2.7% [3] - The market's reduced acceptance of high-priced silicon materials suggests potential short-term adjustments in the industry [3]

Group 1 - The company, Yantai Jereh Petroleum Service Group Co., Ltd., has announced a share repurchase plan with a total fund of no less than RMB 150 million and no more than RMB 250 million, with a maximum repurchase price of RMB 49.00 per share [2][3] - As of April 30, 2025, the company has not yet purchased any shares under the repurchase plan, which aligns with the disclosed plan [2][3] - The company is actively pursuing the application for special loans related to the share repurchase and will implement the plan based on market conditions within the specified timeframe [3] Group 2 - The company held its 2024 annual general meeting on May 7, 2025, with a total of 721 attendees representing 631,660,015 shares, accounting for 61.69% of the total voting shares [13] - All proposals presented at the meeting were approved, including the 2024 annual report and the profit distribution plan for 2024 [15][19][20] - The meeting's procedures were confirmed to comply with relevant laws and regulations, ensuring the validity of the voting results [32]

Investment Rating - The report maintains a "Buy" rating for the company, expecting significant stock price appreciation over the next six months [5]. Core Insights - The company reported a revenue of 10.798 billion yuan for Q1 2025, representing a year-on-year increase of 6.40%, and a net profit attributable to shareholders of 0.887 billion yuan, up 39.60% year-on-year [1][3]. - The utilization rate of drilling platforms has significantly improved, with a total of 4,889 operational days in Q1 2025, an increase of 11.4% year-on-year, and an overall utilization rate of 89.5%, up 10.3 percentage points year-on-year [2]. - The gross margin for Q1 2025 was 17.64%, reflecting an increase of 1.24 percentage points year-on-year, while the expense ratio was 6.64%, down 0.88 percentage points year-on-year, indicating effective cost control [3]. Financial Summary - The company forecasts net profits of 4.296 billion yuan, 4.905 billion yuan, and 5.436 billion yuan for 2025, 2026, and 2027 respectively, with year-on-year growth rates of 36.94%, 14.18%, and 10.83% [4][3]. - The projected earnings per share (EPS) for 2025, 2026, and 2027 are 0.90 yuan, 1.03 yuan, and 1.14 yuan respectively, with corresponding price-to-earnings (P/E) ratios of 14.76X, 12.93X, and 11.67X [4][3]. - The company’s total revenue is expected to grow from 51.826 billion yuan in 2025 to 58.709 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 6.15% [4].

金十数据4月23日讯，海油发展公告称，一季度营业收入为100.74亿元，同比增长9.42%；归属于上市公 司股东的净利润为5.94亿元，同比增长18.48%。 海油发展：一季度净利润同比增长18.48% ...

准油股份（002207）公告，2025年第一季度营业收入3017.85万元，同比下降27.51%。净亏损1555.1万 元，去年同期净亏损1085.55万元。 ...