Hilong Holdings (01623) expects mid-term net profit of about 35 million yuan to about 55 million yuan to turn a year-on-year loss into a profit

According to the Zhitong Finance App, Hilong Holdings (01623) announced that compared with a net loss of approximately RMB 324.9 million for the six months ended June 30, 2025, the Group is expected to obtain a net profit of about RMB 35 million to approximately RMB 55 million for the six months ending June 30, 2026 (reporting period). The conversion from loss to profit was mainly due to (i) the increase in revenue from oil casing trading operations and integrated drilling and completion technology services under Oilfield Services during the reporting period compared to the same period in 2025; and (ii) no one-time impairment losses achieved during the same period in 2025. For the six months ended June 30, 2025, the Group confirmed impairment losses of RMB 329.3 million in respect of a ship. Since the ship was sold at the end of 2025, there were no relevant impairment or classification effects during the reporting period.