MIE HOLDINGS (01555) announces mid-year results, with a net loss of approximately 148 million yuan, an increase of 34.5% year-on-year.

MIE HOLDINGS (01555) announced its mid-term performance for 2025, with total revenue of approximately 366 million yuan, a 20.7% year-on-year decrease; net loss of approximately 148 million yuan, a 34.5% year-on-year increase; basic loss per share of 0.04 yuan. During the period, the group's total crude oil production decreased by 10.4% year-on-year to approximately 1.52 million barrels. The group's share of net crude oil production decreased by 8.5% year-on-year to about 730,000 barrels. The group's daily average total crude oil production decreased by 9.9% to 8,409 barrels, and the daily average net crude oil production decreased by 7.9% to 4,033 barrels. The decrease in net crude oil production was mainly due to the decrease in total production. The group's average realized oil price in the first half of 2025 declined by 14.4% year-on-year to $69.63 per barrel. The direct oil lifting cost at Da'an Oilfield increased by $0.13 per barrel, or 0.8%, to $17.34 per barrel for the six months ended June 30, 2025 compared to the six months ended June 30, 2024. The group did not undertake any drilling activities at Da'an Oilfield in the first half of 2025.