PETRO-KING (02178) issues a profit warning, expecting a mid-term loss attributable to shareholders of no more than HKD 37 million.

PETRO-KING (02178) announced that the group expects to record a loss attributable to the company's owners of not more than HK$37 million for the six months ending June 30, 2026. In comparison, for the six months ending June 30, 2025, the loss attributable to the companys owners was approximately HK$11.8 million, representing an increase in loss of not more than HK$25.2 million compared to the first half of 2025. The Board hereby reports that the increase in loss during the reporting period is mainly due to (i) a significant reduction in revenue from providing enhancement services to shale gas fields in southwest China, as one of the major clients has postponed the enhancement projects for several shale gas fields to the second half of 2026 according to its internal extraction plan; (ii) a decrease in government subsidies received by the group during the reporting period; and (iii) an increase in losses attributable to joint ventures during the reporting period.