Further Expansion of Headquarters Economy! HBP Listing Entity Lands in TEDA

On June 2, the TEDA Administrative Commission signed a Cooperation Framework Agreement with Tianjin Benefo Machinery Equipment Group Co., Ltd. and China Oil HBP Science and Technology Co., Ltd. Following the signing, HBP will officially commence the process to relocate its listing entity and core business segments to TEDA.

Founded in 1998, HBP is a leading provider of integrated solutions for oil and gas resource development and utilization and a main-board listed company on the Shenzhen Stock Exchange. Recently, HBP has accelerated its efforts to expand its presence and increase investment in Tianjin, driving the relocation of its manufacturing and service sectors to TEDA. Under this agreement, HBP will expedite the relocation of its listing entity and the integration of its core equipment segments. These business units are expected to generate an additional RMB 3 billion in revenue, with projected annual revenue reaching RMB 6 billion once full production capacity is achieved.