CHK Oil Limited provided unaudited consolidated earnings guidance for the six months ended 30 June 2023. The group is expected to record a loss attributable to owners of the company of approximately HKD 8 million, as compared with the profit attributable to owners of the Company of approximately HKD 11.0 million for the six months ended 30 June 2022. The expected decrease in the profit attributable to owners of the Company is mainly attributable to the significant decrease in the revenue by approximately HK$328 million for 1H 2023 as compared to the revenue for 1H 2022.

The significant decrease in revenue for the 1H 2023 was primarily due to the decline in the trading of oil and oil-related products in the PRC market and the recovery was resuming slower than expected after the pandemic outbreak.