PETRO-KING issued a profit warning, expecting a loss attributable to shareholders of no more than HKD 15 million in the first half of the year

PETRO-KING expects that in the first half of 2025, the loss attributable to the company's owners will not exceed HKD 15 million, an increase of no more than HKD 14.6 million compared to the loss of approximately HKD 400,000 in the first half of 2024. The increase in loss is mainly due to a significant decrease in revenue from providing production enhancement services to the southwestern shale gas fields in China, as major clients have postponed production enhancement projects to the second half of 2025. In addition, the supervision service contracts in the Middle East will expire in the first half of 2024, leading to a decrease in the group's revenue