Jereh Oilfield approves $75.5m in 2026 related-party transactions

Yantai Jereh Oilfield Services Group announced the approval of its 2026 projected daily related-party transaction limits by its board of directors. The total estimated related-party transactions for 2026 are projected to be 75.50 million yuan.

This includes up to 43.50 million yuan with companies controlled by the actual controller, comprising up to 42.00 million yuan for procurement and services, and up to 1.50 million yuan for sales and services. An additional 32.00 million yuan is estimated with Yantai Demei Power Co., Ltd., with up to 20.00 million yuan for procurement and services, and up to 12.00 million yuan for sales and services.

The transactions, which cover activities such as website construction, equipment procurement, property management, engine and accessory sales, and rental services, are deemed normal business operations. The pricing will adhere to market fair value or cost-plus methods. As of November 2025, the company's actual related-party transactions totaled 32.679 million yuan, with variations from previous forecasts attributed to market and customer demand changes.

Independent directors reviewed and approved the proposals, confirming that the transactions align with operational needs, fair pricing principles, and legal procedures. Directors Sun Weijie, Wang Kunxiao, Liu Zhenfeng, and Wang Jili, who are associated with the related parties, abstained from voting.