HBP(SZ:002554)2023-09-26 09:44Group 1: Financial Performance - In the first half of 2023, the company achieved operating revenue of CNY 93,306.61 million, a year-on-year increase of 0.95% [6] - The net profit attributable to shareholders was CNY 5,837.42 million, a decrease of 27.43% compared to the same period last year, primarily due to increased interest expenses and reduced exchange gains [6][8] - The gross profit margin for the first half of 2023 was 22.97%, an increase of 1.17 percentage points year-on-year [5] Group 2: Business Segments - The oil and gas resource development and utilization segment generated revenue of CNY 25,073.47 million, a year-on-year increase of 5.42%, accounting for 26.87% of total revenue [1] - The oil and gas engineering and service segment achieved revenue of CNY 66,189.12 million, a year-on-year increase of 0.51%, making up 70.94% of total revenue [8] - The environmental engineering and service segment reported revenue of CNY 2,044.02 million, a decline of 26.74% year-on-year, accounting for 2.19% of total revenue [8] Group 3: Asset Restructuring - The company is actively promoting asset restructuring, with the main business shifting to a dual model of oil and gas extraction services and water environment [9][10] - The restructuring aims to avoid competition among major shareholders and enhance the company's profitability and sustainable development capabilities [5][9] Group 4: Market Expansion and Risks - The company has established branches in Kazakhstan, UAE, Iraq, and Chad, actively participating in oil development projects in the Middle East, Central Asia, and Africa [3][5] - The company faces several operational risks, including reliance on oil price fluctuations, policy changes in the oil and gas industry, and exchange rate volatility [7] - As of June 30, 2023, the company's debt-to-asset ratio was 55.91%, indicating manageable debt levels [5] Group 5: Future Outlook - The company has secured new orders worth CNY 18.80 billion in the first half of 2023, with a backlog of CNY 69.89 billion, representing a year-on-year increase of 62.61% [6] - The company is focusing on enhancing its market position through technological innovation and expanding its international presence [9]