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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.

7,450 Employees
Last Reported Date: 04/21/15
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 Signs $26 Million Agreement to Provide Oilfield Drilling Services in the Middle East

Honghua Group Limited announced that it entered into an oilfield services agreement worth approximately $26.0 million (approximately HKD 201.5 million) with an Iraqi client in early July. Pursuant to the oilfield services agreement, HH will provide drilling services using two rigs which are expected to gradually begin operations in August and September 2015. In addition, the oilfield services agreement also includes the subsequent optional drilling services provided by HH.

Honghua Group Limited Announces Executive Changes

The board of directors of Honghua Group Limited announced that Ms. Corinna Leung has resigned as the joint company secretary of the company with effect from July 7, 2015. The Board announced that Ms. Lee Mei Yi has been appointed as the joint company secretary of the company with effect from July 7, 2015. Mr. He Bin, the remaining joint company secretary of the company, will continue to act as the joint company secretary of the company. Ms. Lee is a director of corporate services division of Tricor Services Limited and a fellow member of both The Hong Kong Institute of Chartered Secretaries and The Institute of Chartered Secretaries and Administrators. She has over 25 years' experience in company secretarial area.

Honghua Group Limited Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2015

Honghua Group Limited provided unaudited consolidated earnings guidance for the six months ended June 30, 2015. The board of directors of the company reported to the shareholders of the company and potential investors that the unaudited consolidated management accounts of the company and its subsidiaries for the six months ended June 30, 2015, it is expected that the profit attributable to the shareholders of the company for the six months ended June 30, 2015 will decrease significantly as compared to that for the same period in 2014 and may record a loss. Such decrease or expected loss is primarily due to the fact that there is no significant improvement in the global oil and gas market and the oil and gas industry is under a deep adjustment.


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196 Competitors

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Valuation 196 Industry Range
Price/Earnings 19.0x
Price/Sales 0.2x
Price/Book 0.4x
Price/Cash Flow 19.2x
TEV/Sales NM Not Meaningful

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