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  1. In Brief

    Posted Aug 19th 2009, 12:00am by Staff Reporter

    ... Honghua to sell 800m yuan worth of rigs to Shanghai Zhenhua Honghua Group, the world's second-largest maker of land oil drilling rigs, has signed an agreement to sell rigs worth more than 800 million yuan to Shanghai Zhenhua Heavy Industry. They will be delivered by the end of January next year. Honghua had a turnover of 4.74 billion yuan last year. It warned earlier ...

  2. Business - Companies - FUNDRAISING

    Powerlong, Honghua will issue senior notes to refinance debts

    Posted Sep 10th 2014, 09:27am by Langi Chiang

    ... Langi Chiang langi.chiang@scmp.com Hong Kong-listed mainland Chinese firms Powerlong Real Estate and Honghua Group announced on Wednesday plans to issue senior notes to refinance maturing ... to be listed on the Singapore Exchange, the mainland developer of residential and commercial property said. Honghua Group, China’s biggest exporter of drilling rigs, said HSBC, Citi, Morgan Stanley ...

  3. Business - Companies - THE INTERVIEW

    Honghua prepares to enter offshore equipment market

    Posted Sep 13th 2014, 04:47am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Maker of land oil and gas drilling equipment branching into new market amid questions over whether it can deliver on time and within budget Honghua all rigged up for offshore project Honghua Group, one of the world's largest land-based oil and gas drilling rig makers and the mainland's largest exporter of such rigs, has seen the market bust and boom ...

  4. Business - Companies - EARNINGS

    Honghua Group unfazed by losses in drilling services

    Posted Aug 25th 2014, 03:34am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com Mainland's leading rig builder sets aggressive targets to turn around sector next year Honghua unfazed by losses in drilling services Honghua Group, ... on conventional drilling services, the opposite might be true for unconventional gas drilling, said Honghua chairman Zhang Mi. "As PetroChina is increasingly co-investing with other firms on new ...

  5. Honghua dives on failure in quality audit

    Posted Jul 30th 2009, 12:00am by Eric Ng

    ... Eric Ng Honghua Group, the world's second-largest maker of land oil drilling rigs, plunged as much as 10.7 per cent yesterday after a surprise disclosure of a three-month-old failure to meet production quality management standards in North America. The company said industry standards setter and auditor American Petroleum Institute (API) cancelled a number of Honghua ...

  6. Honghua wins retail investors

    Posted Feb 26th 2008, 12:00am by Staff Reporter

    ... Jonathan Yang Honghua Group, the first mainland company seeking to go public in Hong Kong after the Lunar New Year, attracted a respectable response as investors bet that the country's top oil rig maker will bring decent returns, despite recent market volatility. Securities houses polled by the South China Morning Post said Honghua, the world's second-largest ...

  7. Business - THE INSIDER

    Honghua Group chair cuts stake in firm

    Posted May 13th 2013, 12:00am by Robert Halili

    ... Robert Halili Directors of China Overseas Grand Oceans and Comtec Solar Systems also sold shares last week Honghua Group chair cuts stake in firm Buying by directors fell for the fourth ... of shares in Honghua Group, China Overseas Grand Oceans Group, Comtec Solar Systems, and Boer Power Holdings. The chairman of drilling rig manufacturer Honghua Group, Zhang Mi, resumed selling ...

  8. Honghua to buy stake in Chengdu Jinkong

    Posted Feb 01st 2011, 12:00am by Eric Ng

    ... Eric Ng Sichuan-based Honghua Group, a big producer of land-based oil and gas drilling rigs, has agreed to pay 30 million yuan (HK$35.48 million) for a 15 per cent stake in Chengdu Jinkong ... by Chengdu Investment, an enterprise of the municipal government. It provides guarantees on bank loans obtained by machinery purchasers from state banks. Honghua's sales have been hurt ...

  9. Rig-maker takes another loss

    Posted Jan 11th 2011, 12:00am by Eric Ng

    ... Eric Ng Honghua Group, a Sichuan-based producer of land-based oil and gas drilling rigs, saw its share price dive after it said last Friday it expected to post a net loss for last year after a loss of 127.34 million yuan (HK$149.09 million) in 2009. Its shares closed 13 per cent lower at HK$1.07. Honghua blamed the loss on weaker than expected demand, yuan appreciation ...

  10. Business - China Business - ENERGY

    Honghua Group steps up push on making tools for drilling

    Posted Sep 07th 2012, 12:00am by Eric Ng

    ... Eric Ng eric.mpng@scmp.com The mainland's largest maker of rigs is seeking expertise in producing equipment used in extracting oil and gas trapped in rock formations Honghua steps up push on making tools for drilling Honghua Group, the mainland's largest maker of rigs for land-based oil and gas drillers, is eyeing opportunities to buy or co-operate with more firms ...




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