Baiqin Oil Service (02178) announced interim results. Shareholders' losses of HK$35.325 million increased by 199.54% year-on-year

According to the Zhitong Finance App, Baiqin Oil Service (02178) announced the interim results for the six months ended June 30, 2026. The group achieved a profit of HK$48.125 million, a year-on-year decrease of 56.75%; the company's owners should have accounted for a loss of HK$35.325 million, an increase of 199.54% over the previous year; and a loss of 2.05 HK cents per share.

According to the announcement, the decline in revenue was mainly due to a customer delaying several shale gas production increase projects until the second half of 2026 in accordance with its internal mining plan, leading to a reduction in production-increasing services provided in southwest China.