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    Industrial services

  3. •

    Oilfield services/Equipment
Dalipal Holdings Limited

Dalipal Holdings Limited

HHKEX:1921
3.00
HKD
-0.04
(-1.48%)
10.95BMarket Cap
Mar 19Next Earn
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
0.5
1.52
2.06
2.27
1.51
2.51
2.83
2.62
2.25
2.36
- -
Basic EPS, GAAP
-0.04
0.15
0.2
0.27
-0.08
0.06
0.1
0.09
-0.05
0.01
- -
Free Cash Flow per Basic Share
-0.03
-0.06
-0.21
-0.28
0.18
-0.25
0.46
0.21
-0.22
-0.18
- -
Dividend per Share
- -
- -
0.03
0.19
0.09
- -
0.02
0.04
0.04
- -
- -
Book Value per Share
0.44
0.59
0.5
1.01
0.84
0.9
0.94
0.97
0.87
0.89
0.89
Tangible Book Value per Share
0.44
0.59
0.5
1.01
0.7
0.76
0.94
0.97
0.87
0.89
0.89
Basic Weighted Avg Shares
1,500
1,500
1,500
1,244
1,500
1,500
1,494
1,471
1,466
1,469
1,486
Sales/Revenue/Turnover
748
2,277
3,095
2,826
2,259
3,763
4,228
3,850
3,292
3,462
- -
Operating Margin (%)
-3.42
14.46
13.71
12.42
-2.02
5.78
6.34
5.97
-0.51
2.58
- -
Depreciation Expense
69
66
68
84
120
124
129
135
140
130
- -
Net Income, GAAP
-53
232
301
334
-116
83
152
135
-77
14
- -
Effective Tax Rate (%)
- -
15.35
15.22
17.65
- -
16.86
14.33
11.71
- -
23.12
- -
Profit Margin (%)
-7.08
10.2
9.73
11.81
-5.15
2.2
3.59
3.49
-2.34
0.4
- -
Working Capital
-205
103
-488
421
-220
143
367
302
60
138
138
LT Debt
316
366
310
841
443
651
769
595
697
1,386
1,386
Total Equity
654
886
763
1,526
1,263
1,347
1,404
1,461
1,315
1,348
1,348
Return on Invested Capital (%)
- -
16.08
16.37
12.79
- -
5.17
6.78
6.43
- -
1.78
- -
Return on Capital (%)
- -
15.93
16.28
12.46
- -
4.71
6.4
6.24
- -
1.68
- -
Return on Common Equity (%)
- -
30.15
36.7
29.4
-8.38
6.36
11.02
9.39
-5.55
1.03
- -

Capital Structure

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
ST Debt
1,520
1,130
1,093
LT Borrowings
697
1,396
1,378
LT Finance Leases
- -
1
8
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
1,503
1,506
1,506
Market Capitalization
12,726
7,655
9,841

Working Capital

CNY

•

in mil. unless spec.
Dec'24
Jun'25
Dec'25
Total Current Assets
2,541
2,334
2,164
Cash, Cash Equivalents & STI
412
355
404
Accounts Receivable, Net
461
788
695
Inventories
803
710
630
Total Current Liabilities
2,482
2,022
2,026
Payables & Accruals
- -
- -
- -
ST Debt
1,520
1,130
1,093
Deferred Revenue
- -
- -
- -

Growth Rates

CNY

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
1.5%
2.5%
Free Cash Flow
- -
-159.26%
-17.44%
Net Income, GAAP
- -
-74.97%
-117.81%
Sales/Revenue/Turnover
- -
12.13%
5.17%
Total Cash Common Dividend
- -
- -
-99.49%

Semi-annual Revenue

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
3,850
2024
- -
- -
3,292
2025
- -
- -
3,462

Semi-annual Earnings Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.09
2024
- -
- -
-0.05
2025
- -
- -
0.01

Semi-annual Dividends Per Share

CNY

•

in mil. unless spec.

Year

H1
H2
FY
2023
- -
- -
0.04
2024
- -
- -
0.04
2025
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Hong Yao Zhang
Full Time Employees
2,096
Sector
Industrial services
Industry
Oilfield services/Equipment
Address
No. 1 Zhuangbei District Cangzhou City HE China
IPO Date
Nov 8, 2019
Website
dalipal.com
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Business
Dalipal Holdings Limited (1921.HK) is an investment holding company that develops, manufactures and sells high-end oil country tubular goods (OCTG), oil and gas pipes, new energy pipes, special seamless steel pipes and related products for energy development applications; it operates through segments including oil and gas pipes, new energy and special steel pipes, and others. Founded in 1998 and headquartered in Cangzhou, Hebei Province, People's Republic of China, the company maintains an integrated production chain from pipe billets to finished products with annual capacities of approximately 350,000 tons for OCTG, 500,000 tons for seamless steel pipes and 600,000 tons for pipe billets; its advanced intelligent production lines encompass petroleum pipe material processing, end-thickening, heat treatment, OCTG coupling and full OCTG manufacturing. Dalipal serves domestic Chinese oilfields such as PetroChina's North China, Daqing and Xinjiang operations as well as international markets in 23 countries including North America, the Middle East and Southeast Asia. In recent developments, the company launched a new intelligent production line for high-end seamless steel pipes (Φ32.0mm to Φ114.3mm) at its Cangzhou base in November 2025, integrating hot rolling, heat treatment and green technologies like photovoltaic power and zero-emission processes to support deep-sea, shale gas and power generation demands; its subsidiary established a sales office and bonded warehousing partnership in Oman's Sohar Freezone in October 2025 to enhance Middle East and North Africa supply chain efficiency; and capacity expansions are scheduled to commence in the first half of 2025.