Petro-king Oilfield Services Limited (Stock Code: 2178) disclosed plans to conduct a very substantial acquisition and a very substantial disposal. According to the announcement, its indirect subsidiary will purchase 15 fracturing trucks and two instrument sleds at RMB124.00 million (tax inclusive) and dispose of 15 older fracturing trucks and two instrument trucks at RMB85.50 million (tax inclusive).

Following a one-for-one offset arrangement between the two transactions, the difference of RMB38.50 million will be funded in stages by the group’s internal resources. Management indicates that the replacement of equipment aims to enhance overall operational efficiency, meet stricter technical requirements, and improve competitiveness in production enhancement services. An expected gain of RMB56.60 million may be recognized upon completion of the disposal.

The agreements are subject to shareholders’ approval at an extraordinary general meeting scheduled on 12 March 2026. If approved, the new fracturing and instrument units are expected to be delivered upon settlement of the first payment portion, with remaining balances payable over three years. According to the announcement, the company believes that the transactions will ensure higher technical capabilities and align with evolving industry demands.