Anton Oilfield Services Group (3337) Q3 2025 earnings summary

Executive summary

• Third quarter saw significant oil price fluctuations and active global oil and gas investment, especially in the Middle East, with steady natural gas demand growth in power and industrial sectors.

• Strategic repositioning as a "Technical Service Operator" with a focus on technology-driven resource acquisition and development, enhancing competitive edge and value growth potential.

• Lean operations and efficient project execution advanced, with notable progress in the Dhufriyah Oilfield Development Project and entry into the South American chemical products market.

• Official launch of Dubai Global Operations Center to coordinate global resources and expand international business footprint.

Financial highlights

• New orders in Q3 2025 totaled RMB1,272.9 million, down 14.4% year-over-year.

• Iraq market new orders rose 8.4% year-over-year to RMB542.2 million; other overseas markets fell 54.4% to RMB160.6 million; Chinese market new orders decreased 10.2% to RMB570.1 million.

• As of September 30, 2025, order backlog stood at RMB16,372.1 million: Iraq RMB7,053.4 million (43.1%), other overseas RMB1,553.7 million (9.5%), China RMB7,765.0 million (47.4%).

Outlook and guidance

• Q4 2025 expected to remain volatile due to oil and gas supply, geopolitical tensions, and potential US interest rate cuts.

• Focus on globalization strategy, brand upgrades, and deepening presence in Iraq, Middle East, Africa, Southeast Asia, and China.

• Emphasis on high-quality, long-term projects and industry benchmark establishment.