HK Stock Market Move | PETRO-KING (02178) surged nearly 10% after the performance results, with a turnaround from losses to profits in the year-on-year performance for the past 25 years. Consultancy services in the Middle East have decreased.

PETRO-KING (02178) rose nearly 10% after its results, with a gain of 4.84% as of the time of writing, reaching 0.325 Hong Kong dollars, with a turnover of 44.842 million Hong Kong dollars. On the news front, on March 25th, PETRO-KING announced its 2025 results, with revenue of about 268 million Hong Kong dollars, a decrease of about 8.4% year-on-year; the company's attributable profit amounted to 23.189 million Hong Kong dollars, turning from loss to profit; basic earnings per share was approximately 1.3 Hong Kong cents. The announcement stated that the revenue decrease from the Chinese market of approximately 6.9 million Hong Kong dollars was mainly due to a decrease in the production enhancement services provided in southwest China, partially offset by an increase in sales of well completion products in northwest China and an increase in drilling services provided in northwest China. The decrease in overseas market revenue of approximately 17.6 million Hong Kong dollars was mainly due to several service contracts that were completed in 2024 and not renewed thereafter, leading to a decrease in consulting services provided in the Middle East. Additionally, in 2025, comprehensive project management services provided to a client in the Middle East and drilling services provided to a client in Uzbekistan also decreased.