Giant Wave Offshore Petroleum Services (03303.HK) issued a profit warning, expecting a loss attributable to shareholders of approximately 70 million to 110 million yuan in the first half of the year.

Giant Tide Ocean Petroleum Services (03303.HK) announced that it expects a loss attributable to the companys owners for the six months ending June 30, 2026, to be between approximately RMB 70 million and RMB 110 million (the profit attributable to the companys owners for the six months ending June 30, 2025, was RMB 56.049 million). The board believes the loss is primarily due to: (i) some ongoing projects being delayed in construction for customer-related reasons, and (ii) several EPC (Engineering, Procurement, Construction) projects currently being in the design and procurement stages, leading to significantly insufficient workload at construction sites in the first half of this year, resulting in a substantial decrease in revenue compared to the same period last year.