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honghua group (196) Details

Honghua Group Limited, an investment holding company, engages in the research, design, manufacture, setting, and sale of land drilling rigs, offshore drilling modules, and related parts and components. The company also provides technical support and drilling engineering services. It operates through four segments: Land Drilling Rigs; Offshore Drilling Rigs; Parts and Components and Others; and Oil and Gas Engineering Services. The company designs and manufactures land drilling equipment, including land drilling rigs, offshore drilling packages, top drives, mud pumps, and other oil drilling equipment and ancillaries; and offshore equipment comprising jack-up, semi-submersible, fixed platform, and SPAR offshore drilling platforms, as well as functioning equipment, navigation and anchor systems, electric and dynamic modules, and platform bodies. It also offers various oil and gas engineering services, including drilling services, such as oil and gas wells, air and foam, underbalanced, horizontal/vertical, horizontal/directional, and high H2S wells drilling services; and other drilling services comprising cementing, high density mud engineering, casing running, surface testing, workover, and completion services. In addition, the company provides value-added services, including drilling camp construction and operation, and rig moving services; and manufactures petroleum equipment, as well as panels of drilling rigs. The company operates primarily in the People’s Republic of China, the Americas, the Middle East, Europe, and Africa, as well as Central, South, and South East Asia. Honghua Group Limited was founded in 1997 and is headquartered in Chengdu, the People’s Republic of China.

4,647 Employees
Last Reported Date: 09/20/16
Founded in 1997

honghua group (196) Top Compensated Officers

Chairman, President, Chairman of Strategic In...
Total Annual Compensation: CNY1.3M
Senior Vice President, Executive Director and...
Total Annual Compensation: CNY1.1M
Vice President, Executive Director and Member...
Total Annual Compensation: CNY835.0K
Compensation as of Fiscal Year 2015.

honghua group (196) Key Developments

Honghua Group Limited Announces Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016

Honghua Group Limited announced unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, the company reported revenues of RMB 1,295,927,000 compared with RMB 2,228,807,000 for the same period a year ago. Operating loss was RMB 201,200,000 compared to operating profit of RMB 19,049,000 for the same period a year ago. Loss before income tax was RMB 247,890,000 compared to RMB 37,695,000 for the same period a year ago. Loss attributable to owners of the company was RMB 250,894,000 or 7.89 RMB cents per basic and diluted share compared to RMB 29,874,000 or 0.94 RMB cents per basic and diluted share for the same period a year ago. Group's net operating cash outflow from operations was approximately RMB 180 million, mainly affected by the increasing pledged bank deposits which amounted approximately RMB 234 million. The decrease in turnover was mainly attributable to the declined demand for oil equipment due to the relating low level of the oil price, which leads to a decline of the sales volume of the Group's land drilling rigs part and the oil & gas engineering services part. During the Period, LBITDA amounted to RMB 67 million, as compared to approximately RMB 199 million in the corresponding period last year, which was mainly attributable to the marked decrease in operating profit brought on by the decrease in revenue of the land drilling rigs and component, and the increasing loss of the offshore drilling rigs part and oil & gas engineering services part. During the Period, capital expenditure of the Group on infrastructure and technical improvements amounted to approximately RMB 75 million, representing a decrease of approximately RMB 135 million as compared to the corresponding period last year.

Honghua Group Limited to Report First Half, 2016 Results on Aug 23, 2016

Honghua Group Limited announced that they will report first half, 2016 results on Aug 23, 2016

Honghua Group Limited, Board Meeting, Aug 23, 2016

Honghua Group Limited, Board Meeting, Aug 23, 2016. Agenda: To consider and approve the interim results of the group for the six months ended June 30, 2016; and to transacting any other business.


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