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Hilong Holding (1623) investor relations material
Hilong Holding H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for 1H2025 was RMB2,322.5 million, down 5.8% year-over-year, mainly due to declines in oilfield equipment manufacturing and services.
Gross profit fell 30.6% to RMB401.4 million, with gross margin dropping to 17.3% from 23.5% a year earlier.
Net loss attributable to equity owners was RMB324.2 million, compared to a profit of RMB46.0 million in the prior year period.
Offshore engineering services revenue surged 86.0% year-over-year, offsetting some declines in other segments.
The company is advancing technological innovation, digital transformation, and international market expansion.
Financial highlights
Gross profit margin declined to 17.3% in 1H2025 from 23.5% in 1H2024.
Oilfield equipment manufacturing & services revenue was RMB716.6 million; oilfield services RMB843.7 million; offshore engineering services RMB762.2 million.
Net loss for the period was RMB324.9 million, with a basic loss per share of RMB0.1911.
Administrative expenses rose 4.9% to RMB243.8 million, while selling and marketing expenses decreased 31.2% to RMB43.4 million.
Cash and cash equivalents stood at RMB583.4 million as of 30 June 2025.
Outlook and guidance
Management is optimistic for the second half of 2025, expecting stable investments in crude oil extraction and continued international expansion.
Plans include further development of high-end products, expansion in the Middle East, US, and Southeast Asia, and strengthening of digital and intelligent operations.
The company aims to improve profitability through cost control, technological innovation, and new business models.
Offshore engineering to pursue EPCIC projects and expand in Southeast Asia, Middle East, and South America.
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