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honghua group (196) Snapshot

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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 parts and components. It also provides technical support and drilling engineering services. The company operates through four segments: Land Drilling Rigs; Offshore Drilling Rigs; Parts, 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, and completion services. In addition, the company offers workovers; and value-added services, including drilling camp construction and operation, and rig moving services. Further, it is involved in the trade of drilling rigs and related parts. 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 Southeast Asia. The company was founded in 1997 and is headquartered in Chengdu, the People’s Republic of China.

6,293 Employees
Last Reported Date: 08/19/15
Founded in 1997

honghua group (196) Top Compensated Officers

Chairman, President, Chairman of Strategic In...
Total Annual Compensation: CNY2.0M
Vice President, Executive Director and Member...
Total Annual Compensation: CNY1.4M
Vice President, Executive Director and Member...
Total Annual Compensation: CNY950.0K
Compensation as of Fiscal Year 2014.

honghua group (196) Key Developments

Honghua Group Limited Announces Consolidated Unaudited Earnings Results for the Six Months Ended June 30, 2015

Honghua Group Limited announced consolidated unaudited earnings results for the six months ended June 30, 2015. For the period, the company reported revenues of RMB 2,228,807,000 compared with RMB 3,838,879,000 for the same period a year ago. Operating profit was RMB 19,049,000 compared with RMB 365,698,000 for the same period a year ago. Loss before income tax was RMB 37,695,000 compared with profit before income tax of RMB 269,200,000 for the same period a year ago. Loss attributable to owners of the company was RMB 29,874,000 or 0.940 cents per diluted share compared with profit attributable to owners of the company of RMB 199,745,000 or 6.235 cents per diluted share for the same period a year ago. The decrease in turnover was mainly attributable to the declined demand for oil equipment due to the relating low level of the oil price. The number of drilling rigs sold during the Year decreased to 23 units from 34 units in the same period Last Year. During the Period, EBITDA amounted to RMB 199 million, as compared to approximately RMB 519 million in the same period last year, which was mainly attributable to the marked decrease in operating profit brought on by the decrease in revenue. During the Period, the Group's net operating cash inflow from operations amounted to approximately RMB 47 million. During the Period, capital expenditure of the Group on infrastructure and technical improvements amounted to approximately RMB 211 million, representing a decrease of approximately RMB 69 million as compared to the same period last year.

Honghua Group Ltd Signs RMB 760 Million Construction Agreement with LNG Power Shipping

Honghua Group Ltd. announced that HH entered into a Shipbuilding Contract with LNG Power Shipping Limited in early August, with an aggregate amount of approximately RMB 760 million. According to the contract HH will build and sell 200 sets of LNG power inland river ships with certain specifications including 700-ton ships, 950-ton ships and 1,350-ton ships. It is expected to deliver all vessels by the end of September in 2016.

Honghua Group Limited to Report First Half, 2015 Results on Aug 19, 2015

Honghua Group Limited announced that they will report first half, 2015 results on Aug 19, 2015


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