ANTON OILFIELD(03337): In the fourth quarter, new orders increased by 26.51 billion yuan, a year-on-year increase of 73.4%.

ANTON OILFIELD (03337) announced that in the fourth quarter of 2024, due to trade tensions, geopolitical conflicts, and policy uncertainties, international oil prices fluctuated significantly, with Brent crude oil closing at $74.6 per barrel at the end of the year, remaining in the mid-high range. Market participants closely monitored the impact of the results of the U.S. presidential election on future energy policies and geopolitical dynamics. Meanwhile, there is a steady growth in natural gas demand, especially in the liquefied natural gas (LNG) market, with new projects continuously being launched to meet the strong demand in emerging markets such as the Asia-Pacific region, while also strengthening the diversification of the global natural gas supply chain. During the fourth quarter, the Group actively positioned itself for long-term future development, deeply penetrated global emerging oil and gas markets, and comprehensively promoted the landing of major breakthrough projects by continuously achieving breakthroughs in new fields through efficient technological applications and innovative business models. In this quarter, the Group focused on the natural gas industry chain, aimed at emerging market countries, to create localized solutions for the natural gas industry chain, and through a globalized industry chain, resources, and industry-leading technological capabilities, continually create value for customers and promote sustainable development. In the fourth quarter, the Group added new orders worth RMB 2.651 billion, an increase of 73.4% over the same period last year, with Iraq contributing approximately RMB 1.679 billion in new orders, a significant increase of 102.5% from the same period last year; other overseas markets added approximately RMB 41 million in new orders, down by 78.0% compared to the same period last year; and China added approximately RMB 0.931 billion in new orders, an increase of 81.4% from the same period last year. In the overseas market, the Group secured several substantial orders in Iraq during the quarter, including drilling large package service projects, CPF operation service projects, acid fracturing services, and oilfield operation and maintenance services, leading to a significant increase of 102.5% in new orders from the previous year. In other overseas markets, the Group secured drilling and well service projects, gas tightness testing service projects, but due to some large project orders still being in progress, new orders from other international emerging markets dropped by 78.0% compared to the previous year. In the Chinese market, the Group focused on regional market growth and continued to explore market opportunities, securing orders for fracking projects, platform drilling oil testing integrated construction service projects, downhole operations, and completion tool sales projects. In this quarter, new orders in the Chinese market increased by 81.4% compared to the same period last year. Order adjustments: At the end of the year, the Group conducted an overall review and settlement of all framework contracts (contracts that specify the project service scope and unit price at the time of signing, but are settled based on the actual work volume), leading to a reduction of RMB 38.8 million in orders for other overseas markets due to differences between the estimated annual workload and actual execution amount at the time of contract signing. As of December 31, 2024, the Group had approximately RMB 14.224 billion in hand orders, with Iraq accounting for approximately RMB 6.146 billion, representing about 43.2% of the total hand orders, other overseas markets accounting for approximately RMB 1.142 billion, representing about 8.0% of the total hand orders, and China accounting for approximately RMB 6.936 billion, representing about 48.8% of the total hand orders in the Group.