Yanchang Petroleum International (00346) announced interim results. Shareholders' share loss of HK$41.37,000 increased by 44.82% year-on-year

According to the Zhitong Finance App, Yanchang Petroleum International (00346) announced results for the six months ended June 30, 2026. The group achieved revenue of HK$7.024 billion during the period, a year-on-year decrease of 29.72%; losses attributable to the owners of the company were HK$41.37,000, an increase of 44.82% over the previous year; and the basic loss per share was HK3.76 cents.

In the first half of 2026, due to multiple adverse factors such as extremely cold weather, “road bans” restrictions on construction during the spring melting period, backpressure restrictions on third-party systems, and tight external financing channels, Novus adhered to the principle of “stable production and efficiency”, gave priority to ensuring the stable operation of the existing production system, rationally arranging limited capital investment, and striving to reduce the impact of declining production on overall operations and ensure the smooth operation of the company's production and operation. Faced with limited capital expenditure, capital investment declined sharply, and development progress slowed significantly. There was no new drilling in the first half of 2026, and the total capital expenditure was 407,000 Canadian dollars. By the end of June 2026, Novus achieved cumulative net oil and gas sales volume of 183,000 barrels of oil equivalent (“equivalent barrels”), a year-on-year decrease of 30.3%, achieving sales revenue of 14.46 million Canadian dollars, a year-on-year decrease of 11.8%; net loss of 7.44 million Canadian dollars.