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Zhongman Petroleum and Natural Gas Group (603619) investor relations material
Zhongman Petroleum and Natural Gas Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 was RMB 771.44 million, down 18.22% year-over-year due to lower crude oil sales and increased transportation costs for unsold crude oil.
Net profit attributable to shareholders dropped 86.22% year-over-year to RMB 31.66 million.
Operating cash flow turned negative at -RMB 64.04 million, compared to RMB 214.53 million in Q1 2025.
Crude oil and derivatives sales volume fell 19.48% year-over-year, with significant declines at the Wensu oilfield.
International oil prices spiked in March due to Middle East geopolitical tensions, but domestic demand remained weak.
Financial highlights
Total assets increased 4.22% from year-end 2025 to RMB 13.03 billion.
Shareholders’ equity rose 1.10% to RMB 4.37 billion.
Basic and diluted EPS were RMB 0.07, down 86% year-over-year.
Weighted average ROE was 0.73%, down 4.83 percentage points year-over-year.
Gross margin declined as operating costs remained high despite lower sales.
Outlook and guidance
Project progress in Iraq was impacted by client-mandated work stoppages.
The company will monitor geopolitical risks and take measures to mitigate adverse impacts.
- Revenue and profit fell, but oil and gas output and global expansion advanced.603619
Q4 202515 Apr 2026 - Revenue up 10.79% but net profit down 10.58%; oil output and assets hit record highs.603619
Q4 202416 Mar 2026 - Revenue up, profit down on oil price drop; output and international expansion strong.603619
Q2 202522 Dec 2025 - Revenue and profit fell sharply on lower oil prices, but cash flow and output rose.603619
Q3 202531 Oct 2025 - Net profit surged 32.95% in Q1 2025 on strong oil and gas output and operational gains.603619
Q1 20256 Jun 2025
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