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Petro-king Oilfield Services Ltd.
(2178)
Petro-king Oilfield Services Ltd. (2178) vs. iShares MSCI Hong Kong ETF (EWH)
Petro-king Oilfield Services Ltd. Business Overview & Revenue Model
Petro-king Oilfield Services Ltd. Financial Statement Overview
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 377.53M | 314.84M | 313.77M | 163.97M | 307.99M | 478.25M | Gross Profit |
| 56.70M | 38.76M | 24.72M | 5.89M | 64.23M | 134.42M | EBIT |
| -22.38M | -41.18M | -26.75M | -66.18M | 1.02M | -58.61M | EBITDA |
| -18.32M | -20.09M | 17.70M | -24.46M | 52.02M | -1.93M | Net Income Common Stockholders |
| -56.79M | -73.51M | -28.59M | -105.28M | -73.03M | -87.03M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 39.31M | 26.29M | 39.96M | 27.45M | 32.81M | 34.25M | Total Assets |
| 983.90M | 712.01M | 823.41M | 716.49M | 1.02B | 966.59M | Total Debt |
| 288.71M | 189.95M | 231.15M | 187.15M | 351.38M | 343.95M | Net Debt |
| 249.39M | 163.66M | 191.19M | 159.70M | 318.57M | 309.70M | Total Liabilities |
| 520.28M | 520.86M | 561.68M | 425.81M | 664.27M | 572.62M | Stockholders Equity |
| 462.66M | 186.83M | 256.05M | 286.01M | 331.90M | 369.66M |
| Cash Flow | Free Cash Flow | ||||
| -25.24M | -29.58M | 19.11M | 119.80M | -32.56M | -58.61M | Operating Cash Flow |
| -20.20M | -28.71M | 22.88M | 125.43M | -8.90M | -33.63M | Investing Cash Flow |
| 47.01M | 43.60M | 22.45M | -11.11M | 22.13M | -10.52M | Financing Cash Flow |
| -19.83M | -29.49M | -28.51M | -121.34M | -16.24M | 27.71M |
Petro-king Oilfield Services Ltd. Technical Analysis
Petro-king Oilfield Services Ltd. Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$7.27B | 9.53 | 13.34% | 5.15% | 18.17% | 33.08% | |
73 Outperform | $55.57B | 8.98 | 7.81% | 3.62% | 7.72% | 2.35% | |
72 Outperform | HK$25.53B | 9.55 | 7.81% | 7.35% | 12.37% | ― | |
66 Neutral | $31.57B | 17.80 | 7.73% | ― | -0.40% | 2.61% | |
57 Neutral | $7.22B | 3.16 | -4.49% | 5.63% | 0.82% | -49.15% | |
56 Neutral | HK$96.69M | ― | -9.89% | ― | -6.39% | 75.82% |
Petro-king Oilfield Services Ltd. Corporate Events
Petro-king Oilfield Services Ltd. has announced an extraordinary general meeting (EGM) scheduled for June 12, 2025, in Hong Kong, where shareholders will consider approving a Framework Sale and Purchase Agreement. This agreement involves multiple subsidiaries and aims to enhance the company’s operational capabilities and strategic positioning in the oilfield services market.
Petro-king Oilfield Services Ltd. has announced the scheduling of an extraordinary general meeting (EGM) to be held on June 12, 2025, in Hong Kong. The meeting aims to discuss the Framework Sale and Purchase Agreement, with the register of members closed from June 9 to June 12, 2025, to determine voting eligibility. This announcement is significant for shareholders as it outlines the procedures for participating in the EGM, which could impact the company’s strategic decisions and future operations.
Petro-king Oilfield Services Ltd. has entered into a Framework Sale and Purchase Agreement with Petro-king Energy Group, effective retrospectively from January 1, 2025, to December 31, 2027. Under this agreement, Petro-king’s PRC Subsidiaries will purchase well completion, production enhancement, and drilling products from Petro-king Energy Group, with annual transaction caps set at RMB20,000,000. This agreement, involving connected persons under the Listing Rules, requires compliance with reporting and approval processes due to its financial scale, impacting the company’s operational strategy and regulatory obligations.
Petro-king Oilfield Services Ltd. announced that all resolutions proposed at their Annual General Meeting on May 8, 2025, were passed by shareholders. These resolutions included the re-election of directors, authorization of director remuneration, reappointment of the auditor, and granting of general mandates for share issuance and repurchase. The successful passing of these resolutions indicates strong shareholder support and positions the company for continued operational stability and strategic flexibility.
Petro-king Oilfield Services Ltd. announced the successful passing of a resolution at their Extraordinary General Meeting (EGM) held on May 8, 2025. The resolution, which involved the adoption of a New Share Option Scheme, was approved by a significant majority of shareholders, with 92.89% voting in favor. This development is expected to impact the company’s operational strategies and potentially enhance shareholder value by aligning the interests of the company’s management with those of its shareholders.
Petro-King Oilfield Services Limited has announced an extraordinary general meeting scheduled for May 8, 2025, to discuss and potentially approve a new share option scheme. This scheme would allow the company to issue new shares up to 10% of the current shares in issue, excluding treasury shares, which could impact the company’s capital structure and provide flexibility in rewarding employees or raising capital.
Petro-king Oilfield Services Ltd. has announced its upcoming Annual General Meeting (AGM) scheduled for May 8, 2025, in Hong Kong. The meeting will address several key resolutions, including the re-election of directors, the authorization of director remuneration, and the re-appointment of BDO Limited as the company’s auditor. Additionally, the AGM will consider a resolution to empower the company’s directors to issue additional shares, subject to certain conditions. This move could potentially impact the company’s capital structure and shareholder value, reflecting its strategic positioning and operational plans.
Petro-king Oilfield Services Ltd. reported a decrease in revenue to approximately HK$292.4 million for the year ended December 31, 2024, down from HK$314.8 million in 2023. The company’s loss reduced significantly to HK$14.7 million from HK$74.7 million in the previous year. The China market saw a slight revenue increase due to higher sales of well completion products and drilling services, while the overseas market experienced a significant decline due to the completion of service contracts in the Middle East. This resulted in an overall revenue drop of 7.1%, highlighting challenges in maintaining overseas market engagements.
Petro-king Oilfield Services Limited has announced a significant reduction in its net loss for the year ended December 31, 2024, with expected losses not exceeding HK$25 million, compared to HK$74.7 million in the previous year. This improvement is attributed to decreased impairment losses on goodwill, reduced depreciation costs, and increased net reversal of impairment on financial assets, although partially offset by decreased gains on dilution of interests in associates and increased share of net loss of associates.
Petro-king Oilfield Services Ltd. has announced a board meeting scheduled for March 26, 2025, to discuss and approve the company’s final results for the year ending December 31, 2024, and to consider a final dividend payment. This meeting is significant as it will address the company’s financial performance and potential shareholder returns, impacting its market positioning and stakeholder expectations.