HILONG (01623) has issued a positive profit forecast, expecting a mid-term net profit of approximately 35 million to about 55 million yuan, turning losses into profits compared to the same period last year.

HILONG (01623) announced that, compared to a net loss of approximately RMB 324.9 million for the six months ending June 30, 2025, the Group expects to achieve a net profit of approximately RMB 35 million to RMB 55 million for the six months ending June 30, 2026 (the reporting period). The turnaround from a loss to a profit is primarily attributed to (i) an increase in revenue from oil casing trading and integrated drilling and completion services during the reporting period compared to the same period in 2025; and (ii) the absence of a one-time impairment loss recorded in the same period in 2025. For the six months ending June 30, 2025, the Group recognized an impairment loss of RMB 329.3 million for a vessel. Since the vessel was sold at the end of 2025, there were no related impairment or classification impacts during this reporting period.