Anton Oilfield Services Group (3337) Q1 2026 earnings summary

Executive summary

• Global oil and gas market volatility in Q1 2026 was driven by geopolitical tensions, notably the US-Israel-Iran conflict, impacting transport routes and oil prices.

• The group prioritized employee safety, adjusted frontline deployment, and reinforced cost controls to maintain operational stability.

• Dedicated teams were established to capture new business opportunities in the Middle East, GCC, Iraq, and North Africa.

Financial highlights

• New orders in Q1 2026 totaled RMB1,387.4 million, down 20.3% year-over-year.

• Iraq market new orders were RMB611.2 million, a 12.7% decrease year-over-year.

• Other overseas markets saw new orders of RMB47.9 million, down 85.3% year-over-year.

• China market new orders rose 1.8% year-over-year to RMB728.4 million.

• Order backlog as of March 31, 2026, was RMB16,924.0 million, with China accounting for 48.9%, Iraq 41.8%, and other overseas 9.3%.

Outlook and guidance

• Geopolitical risks in the Middle East are expected to ease in Q2 2026, with oil production resuming and increasing.

• The group aims to optimize its operational model, enhance decision-making, reduce costs, and pursue diversified market growth in GCC, North Africa, Southeast Asia, and China.

• Focus areas include building industrial service bases, advancing AI-assisted management, and strengthening talent and supply chain systems.