Gelonghui, March 26 | Honghua Group (00196.HK) announced that in 2023, the company's revenue was about RMB 5.473 billion, an increase of 22.3% over RMB 4.476 billion in the same period last year. Gross profit was approximately RMB 542 million, an increase of 17.8% over RMB 460 million in the same period last year. Losses attributable to shareholders were approximately RMB 387 million.
During the year, the company sold a total of 16 drilling rigs, with a total value of about RMB 2.354 billion, up 216.8% from RMB 743 million in the same period last year. Total parts sales reached RMB 2,198 billion, a decrease of 2.5% compared with RMB 2,255 billion in the same period last year.
The company focused on key markets and key customers, increased market investment and marketing efforts, and gradually recovered the traditional competitive overseas market, once again signed batch sales contracts with top Middle Eastern customers, signed high-end land drilling rig orders with various Middle Eastern customers such as Kuwait and Oman, continuing to consolidate the company's international market position; successfully won the bid for the world's most advanced Indonesian geothermal automated drilling rigs, and signed drilling rig and accessories orders with 19 new customers to achieve breakthroughs in new overseas markets; for the first time, it achieved high-specification drilling rig sales to private oil companies to further expand the domestic market. In order to meet the development needs of automation, digitalization and intelligence of drilling equipment, the company continued to increase investment and enhance R&D capabilities. Power Maodao achieved mass sales in the domestic market, and drills supporting “one-click linkage” automated equipment systems achieved a breakthrough in the international market in Indonesia. In total, new orders at home and abroad exceeded 100 million yuan in 2023. The 1,500HP low-emission automated silent drilling rig was successfully installed and operated at the Ugandan National Forest Park site in Africa. It was the first ultra-quiet intelligent rig independently developed and manufactured in China and exported 3 sets. In terms of digital drilling products, the Opera system achieved commercial operation at Total, and a total of 5 sets of orders were signed with two well-known drilling companies in the Middle East, further enhancing the company's competitiveness and influence in the international market for digital products.