Anton Oilfield Services (03337) saw its decline continue, dropping over 6% in today's trading session. At the time of writing, the stock was down 6.48%, trading at HK$1.01 with a turnover of HK$4.7314 million.

The company announced that in the first quarter, it secured new orders totaling RMB 1.3874 billion, representing a decrease of 20.3% compared to the same period last year. New orders from the Iraq market amounted to approximately RMB 611.2 million, down 12.7% year-on-year. Orders from other overseas markets were approximately RMB 47.9 million, a significant decrease of 85.3%. In contrast, the Chinese market contributed new orders of about RMB 728.4 million, showing a slight increase of 1.8%.

The announcement stated that following the military conflict involving the US, Israel, and Iran which erupted in late February, oil exports from Iraq have been substantially reduced due to disruptions in transport through the Strait of Hormuz, leading to delays in the execution of some projects. However, the overall impact on the group's business is considered manageable. Specifically, the company's capital-light energy project management business in Iraq and operational projects reserved for future capacity construction have been less affected by the current situation.