STOCKS | Petrochemical Machinery Expects First-Half Net Loss of 5.5 Million to 7.5 Million Yuan

Petrochemical Machinery said it expects a net loss attributable to shareholders of 5.5 million to 7.5 million yuan in the first half of 2026, compared with a profit of 28.0286 million yuan a year earlier. According to Jin10, the company said the performance change was driven by several factors during the reporting period. It cited slower upstream oil and gas exploration investment, which led to a slower release of market demand for oil and gas equipment and tool services, and resulted in year-on-year declines in orders and revenue. The company also said foreign-exchange losses rose sharply from a year earlier due to appreciation of the renminbi. In addition, it said collections of receivables fell short of expectations, increasing credit impairment losses from a year earlier. It also cited changes in impairment provisions and other factors that increased deferred income tax year on year.