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The latest update is out from Honghua Group ( (HK:0196) ).
Honghua Group Limited announced a significant sales agreement through its subsidiary, Sichuan Honghua Petroleum Equipment Co., Ltd., with a leading Middle Eastern oil company for over RMB1.5 billion. This agreement, which supplements a previous order, involves the provision of AI-driven drilling rigs designed for clustered wells, highlighting the company’s technological advancements and strengthening its market presence in the high-end drilling rig sector in the Middle East.
More about Honghua Group
Honghua Group Limited, incorporated in the Cayman Islands, operates in the petroleum equipment industry. The company primarily focuses on the development and sale of intelligent drilling rigs, leveraging advanced technologies such as artificial intelligence to enhance operational efficiency and safety.
Average Trading Volume: 1,356,473
Current Market Cap: HK$1.28B
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