PETRO-KING (02178) Reports Interim Results with Shareholder Loss of HK$11.8 Million, Up 2885.6% YoY

Stock News

2025/08/21

PETRO-KING (02178) announced its interim results for the six months ended June 30, 2025, reporting revenue of HK$111 million, representing a 32.9% year-on-year decline. The company recorded a loss attributable to owners of HK$11.793 million, marking a significant 2885.6% increase compared to the same period last year. Basic loss per share stood at HK$0.68 cents.

The decrease in revenue during the period was primarily attributed to a client's decision to postpone certain shale gas stimulation projects to the second half of 2025 in accordance with their internal extraction schedule, resulting in reduced stimulation services provided in Southwest China. Additionally, revenue from the Middle East market declined as a supervision services contract expired in the first half of 2024, generating no income from this contract during the first half of 2025.

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