MIE Holdings (01555) has released its financial results for the six months ended June 30, 2026, reporting a net loss of 144 million yuan, which narrowed by 2.4% compared to the same period last year.

The company's total revenue reached 383 million yuan, marking a 4.7% increase year-on-year, with a basic loss per share of 0.04 yuan. All revenue from the sale of petroleum products was generated from the company's oil fields in China.

The average realized oil price rose to $81.34 per barrel for the six months ended June 30, 2026, an increase of $11.71 per barrel, or 16.8%, compared to $69.63 per barrel in the same period of 2025. However, net crude oil sales volume decreased by 50,000 barrels, or 6.8%, to 680,000 barrels from 730,000 barrels in the first half of 2025.

The increase in revenue was primarily driven by higher oil prices, which was partially offset by the decline in net sales volumes.