HK Stock Market Move | ANTON OILFIELD (03337) fell more than 6% again, with Iraq's oil exports significantly reduced and some projects delayed.

ANTON OILFIELD (03337) fell by over 6%, dropping by 6.48% to HK$1.01 as of the time of writing, with a trading volume of HK$4.7314 million. In terms of news, ANTON OILFIELD announced that in the first quarter, the group's new orders amounted to RMB 1.3874 billion, a decrease of 20.3% compared to the same period last year. Among them, new orders in the Iraqi market amounted to approximately RMB 611.2 million, a decrease of 12.7% from the same period last year; new orders in other overseas markets amounted to approximately RMB 47.9 million, a decrease of 85.3% from the same period last year; new orders in the Chinese market amounted to approximately RMB 728.4 million, an increase of 1.8% from the same period last year. The announcement stated that since the outbreak of military conflicts between the United States, Iran, and Iraq at the end of February, due to blockages in the Strait of Hormuz, Iraqi oil exports have significantly decreased, leading to delays in some projects. However, the overall impact on the group's business is manageable, especially as the group's energy project management business in the Iraqi market and operational projects for future capacity construction are less affected by the situation.