Financial Performance - Revenue increased to RMB 2,631.1 million in 2025 from RMB 2,176.3 million in 2024, representing a 20.9% increase[4] - Profit attributable to equity holders increased to RMB 165.1 million in 2025 from RMB 105.9 million in 2024, a 55.9% increase[4] - Free cash flow increased to RMB 197.2 million in 2025 from RMB 173.0 million in 2024, a 12.3% increase[4] Strategic Initiatives and Business Development - The company is building a new service company business model, enhancing oil and gas development and utilization efficiency[12, 16] - The company is expanding into global markets, including the Middle East, Africa, and Central Asia, with successful entry into Sarawak, Malaysia[22, 23] - The company is deepening global management and accelerating intelligent transformation, including opening a new Hong Kong office and launching a treasury center[12, 24, 25] Shareholder Returns and Governance - The company completed a RMB 73 million final dividend payment for 2024[28] - The company completed cumulative share buybacks and cancellation of 17 million shares[28] - The company received continued recognition as "China's Outstanding Management Company"[31] Future Outlook - The company aims to drive long-term growth through early indicators management[36, 41] - The company is building a leading global green energy technology services company[36, 38] - The company will maintain focus on Iraq and seize core market opportunities to drive scaled growth[36, 43]

Core Insights - Antong Oilfield Services (03337) reported a total revenue of 2.631 billion RMB for the six months ending June 30, 2025, representing a year-on-year increase of 20.9% [1] - The company's net profit attributable to shareholders was 165 million RMB, reflecting a significant year-on-year growth of 55.98% [1] - Basic earnings per share stood at 0.0602 RMB [1] Business Strategy - The company continues to deepen its global market presence with Dubai as its operational headquarters, focusing on mature markets like Iraq while also exploring new markets in the Middle East, Africa, and Southeast Asia [1] - A breakthrough was achieved in the natural gas utilization business in Sarawak, Malaysia, where the company secured its first project for the commercialization of natural gas, setting a positive foundation for further expansion in Southeast Asia [1] Order Book and Future Growth - The company secured strong new orders totaling approximately 4.753 billion RMB during the first half of the year, with overseas orders accounting for about 3.124 billion RMB, or 65.7% of total new orders [1] - Domestic orders amounted to approximately 1.629 billion RMB, representing about 34.3% of the total [1] - As of June 30, 2025, the company's backlog of orders reached approximately 16.35 billion RMB, establishing a solid foundation for future growth [1]

Core Viewpoint - Antong Oilfield Services (03337) reported a significant increase in revenue and profit for the six months ending June 30, 2025, indicating strong operational performance and growth potential in both existing and new markets [1] Financial Performance - Total revenue reached 2.631 billion RMB, a year-on-year increase of 20.9% [1] - Shareholder profit amounted to 165 million RMB, reflecting a year-on-year increase of 55.98% [1] - Basic earnings per share were 0.0602 RMB [1] Market Expansion - The company is headquartered in Dubai and is focusing on global market expansion, particularly in mature markets like Iraq and new markets in the Middle East, Africa, and Southeast Asia [1] - A breakthrough was achieved in the natural gas utilization business in Sarawak, Malaysia, with the company winning its first project in the region [1] Order Growth - The company secured strong new orders totaling approximately 4.753 billion RMB, with overseas orders accounting for about 3.124 billion RMB (65.7% of total new orders) and domestic orders at approximately 1.629 billion RMB (34.3%) [1] - As of June 30, 2025, the total backlog of orders stood at approximately 16.35 billion RMB, laying a solid foundation for future growth [1]

Financial Performance - Revenue increased to RMB 4,753.9 million in FY2024 [8], a 7.2% increase compared to RMB 4,434.8 million in FY2023 [8] - Profit attributable to equity holders reached RMB 196.5 million in FY2024 [8] - Free cash flow nearly doubled, reaching RMB 979.7 million in FY2024 [8], a 96.1% increase compared to RMB 499.5 million in FY2023 [8] - A dividend of RMB 73 million was declared for 2024 [37, 60], representing an 87.3% year-over-year increase [37] Market Expansion and Orders - Revenue from overseas reached 65% of total revenue [11, 17] - Total orders from overseas surged to RMB 5,802.6 million in FY2024 [19], a 78.8% increase compared to RMB 3,244.8 million in FY2023 [19] - Innovative business new orders increased by 19%, reaching RMB 4,235.3 million in FY2024 [21] from RMB 3,558.2 million in FY2023 [21] Strategic Initiatives - The company fully repaid its USD bond [10, 15] - The company won the bid for the Iraq Dulfriyah Oilfield Mega Project [13, 32] - Over 52 million shares were repurchased in 2024 [37]