HONGHUA GROUP (00196.HK): Subsidiary Signs Drilling Rig Sales Agreement Worth RMB 600 Million with Middle East Customer

NewTimeSpace · 2026/09/02 17:14 · By Zeyu Wu
On 2 September 2026, HONGHUA GROUP (00196.HK) announced that its subsidiary Sichuan Honghua has signed drilling rig sales agreements with a Middle East customer totalling RMB 600 million, with the rigs to be equipped with self-developed intelligent systems.

NewTimeSpace News: On 2 September 2026, Honghua Group Limited (stock code: 00196) announced that its subsidiary Sichuan Honghua Petroleum Equipment Co., Ltd. has recently signed drilling rig sales agreements with a Middle East customer totalling RMB 600 million, under which Sichuan Honghua will supply several large drilling rigs.

According to the announcement, the rigs will be equipped with the Company's self-developed automated tools and Opera intelligent drilling system, enhancing drilling efficiency and the automation and intelligence level of the rigs. 

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HONGHUA GROUP00196.HKBusiness Development
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