Zhongman Petroleum issued an announcement on abnormal stock trading after hitting the daily limit up three times in four consecutive trading sessions. The company expects net profit attributable to shareholders of the listed company for the first half of 2026 to be between 88.68 million yuan and 106 million yuan, a year-on-year decrease of 64.68 percent to 70.46 percent. The company stated that operating performance is affected by multiple factors such as crude oil production and sales volumes and the progress of investment in overseas oilfield projects. If the digestion of crude oil inventories at the Wensu oilfield fails to improve and the shutdown drilling teams in Iraq cannot resume work and production in a timely manner, operating performance faces the risk of further pressure. Recently, international crude oil prices have experienced significant short-term fluctuations, and future oil price trends are highly uncertain. The company reminds investors to pay attention to relevant risks.
Zhongman Petro & Natural GasCompany expects first-half net profit to drop over 60% year-on-year due to operational issues.