YANCHANG PETRO (00346) warns of HK$780.00 million FY2025 loss amid weak oil prices and asset impairments

Bulletin Express

Mar 11

Yanchang Petroleum International Limited (stock code: 00346) issued a profit warning, projecting a net loss of around HK$780.00 million for the financial year ended 31 December 2025, shifting from a HK$56.00 million profit recorded in 2024.

Management attributes the expected downturn to several factors:

• Macroeconomic headwinds: Prolonged geopolitical conflicts, U.S.-China trade frictions and slower-than-expected economic growth in China curtailed global crude demand. Average WTI crude prices fell from roughly US$77 per barrel in 2024 to about US$66 per barrel in 2025.

• Revenue and margin pressure: Softer international oil prices and subdued domestic consumption of refined products reduced the Group’s sales and gross profit.

• Significant impairments: – Substantial impairment losses were recognised on Canadian oil-and-gas production assets. – Goodwill and other non-current assets tied to the refined-oil and by-products trading business in China were written down.

• Credit risks: Additional provisions for bad debts were booked within the refined-oil and by-products trading segment in China.

The unaudited figures are based on management accounts; final audited results are scheduled for release on or about 26 March 2026. Shareholders and potential investors are advised to exercise caution when dealing in the Company’s securities.

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Shareholders and potential investors are advised to exercise caution when dealing in the Company’s securities.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>YANCHANG PETRO (00346) warns of HK$780.00 million FY2025 loss amid weak oil prices and asset impairments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nYANCHANG PETRO (00346) warns of HK$780.00 million FY2025 loss amid weak oil prices and asset impairments\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1053168898\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Bulletin Express </p>\n<p class=\"h-time\">2026-03-11 18:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Yanchang Petroleum International Limited (stock code: 00346) issued a profit warning, projecting a net loss of around HK$780.00 million for the financial year ended 31 December 2025, shifting from a HK$56.00 million profit recorded in 2024.</p>\n<p>Management attributes the expected downturn to several factors:</p>\n<p>• Macroeconomic headwinds: Prolonged geopolitical conflicts, U.S.-China trade frictions and slower-than-expected economic growth in China curtailed global crude demand. Average WTI crude prices fell from roughly US$77 per barrel in 2024 to about US$66 per barrel in 2025.</p>\n<p>• Revenue and margin pressure: Softer international oil prices and subdued domestic consumption of refined products reduced the Group’s sales and gross profit.</p>\n<p>• Significant impairments: \n  – Substantial impairment losses were recognised on Canadian oil-and-gas production assets.\n  – Goodwill and other non-current assets tied to the refined-oil and by-products trading business in China were written down.</p>\n<p>• Credit risks: Additional provisions for bad debts were booked within the refined-oil and by-products trading segment in China.</p>\n<p>The unaudited figures are based on management accounts; final audited results are scheduled for release on or about 26 March 2026. Shareholders and potential investors are advised to exercise caution when dealing in the Company’s securities.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"00346","symbol_name":"延长石油国际","start_time":0,"source_url":"","article_id":"1174389163","we_media_id":"1053168898","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1174389163","pubTimestamp":1773223418,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Bulletin Express","introduction":"Full Coverage of HK & US Stock Announcements","home_visible":1,"id":"1053168898","head_image":"https://community-static.tradeup.com/news/ed558ed0402cbe7d1ef4d150458f2b2e"},"summary":"Yanchang Petroleum International Limited (stock code: 00346) issued a profit warning, projecting a net loss of around HK$780.00 million for the financial year ended 31 December 2025, shifting from a...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"00346":"延长石油国际"},"translate_title":"延长石油(00346)警告2025财年因油价疲软和资产减值亏损7.8亿港元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00346":1},"content_text":"Yanchang Petroleum International Limited (stock code: 00346) issued a profit warning, projecting a net loss of around HK$780.00 million for the financial year ended 31 December 2025, shifting from a HK$56.00 million profit recorded in 2024.\nManagement attributes the expected downturn to several factors:\n• Macroeconomic headwinds: Prolonged geopolitical conflicts, U.S.-China trade frictions and slower-than-expected economic growth in China curtailed global crude demand. Average WTI crude prices fell from roughly US$77 per barrel in 2024 to about US$66 per barrel in 2025.\n• Revenue and margin pressure: Softer international oil prices and subdued domestic consumption of refined products reduced the Group’s sales and gross profit.\n• Significant impairments: \n  – Substantial impairment losses were recognised on Canadian oil-and-gas production assets.\n  – Goodwill and other non-current assets tied to the refined-oil and by-products trading business in China were written down.\n• Credit risks: Additional provisions for bad debts were booked within the refined-oil and by-products trading segment in China.\nThe unaudited figures are based on management accounts; final audited results are scheduled for release on or about 26 March 2026. 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