SPT Energy (HKG:1251) incurred an attributable loss of 256.2 million yuan in the year ending Dec. 31, 2024, compared with an attributable profit of 16.7 million yuan in the year-ago period, a June 27 filing with the Hong Kong bourse said.

Shares of the oilfield services provider were up 148% in Monday afternoon trading.

Loss per share was 0.131 yuan, whereas the company saw earnings per share of 0.009 yuan in the previous fiscal year.

The firm's revenue fell 13% to 1.69 billion yuan in the year from 1.95 billion yuan a year prior, mainly due to a decline in overseas workload and investment curtailment by clients in certain markets among other factors.