Honghua Group (HK:0196) has released an update.
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Honghua Group Limited has announced that its subsidiary, Sichuan Honghua Electric Co., Ltd., has secured a significant contract worth over RMB75 million for providing electric-driven fracturing services. This contract marks Honghua’s entry into the market as a service provider in unconventional oil and gas development, highlighting the company’s strength in efficient and environmentally friendly technology. This move enhances Honghua’s market competitiveness and lays the groundwork for future collaborations.
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