Summary of Key Points Core Viewpoint - The report provides an overview of the fundraising activities and the management of the raised funds by China National Offshore Oil Corporation (CNOOC), detailing the total amount raised, its allocation, and the current status of the funds as of June 30, 2025 [1]. Fundraising Overview - The total amount raised from the initial public offering (IPO) was RMB 3,229,200,000, with a net amount of RMB 3,209,908,670 after deducting issuance costs [1]. - The funds were fully received by May 23, 2022, and have been deposited in designated bank accounts [1]. Fund Management and Storage - CNOOC has established a dedicated fund management policy to ensure the safety and effective use of the raised funds, complying with relevant regulations [1]. - The company has set up special accounts for the raised funds at various banks, including agreements for three-party and four-party supervision to ensure proper management [1]. Fund Utilization - As of June 30, 2025, the balance in the fundraising account was RMB 244,048,530 [1]. - The report includes a detailed table of the actual use of the raised funds, indicating that a total of RMB 3,032,338,210 has been utilized for various projects [4]. Project Investment Status - Specific projects funded include the Payara oilfield development, which has reached its investment limit by December 2023, and is expected to achieve peak production by February 2024 [4]. - The report indicates that all projects funded by the raised capital are progressing towards their intended operational status [4]. Compliance and Reporting - CNOOC has ensured timely and accurate disclosure of fundraising information, with no violations reported regarding the use of the raised funds [2][4]. - The company has not engaged in using idle funds for temporary liquidity or cash management investments during the reporting period [4].

Group 1 - The company will hold a half-year performance briefing for 2025 on September 5, 2025, from 16:00 to 17:00 [1][2] - The briefing will be conducted in an interactive online format, allowing investors to engage and ask questions [2] - The company plans to release its 2025 half-year report on August 27, 2025, after market close [1] Group 2 - Participants in the briefing will include the Vice Chairman and CEO, President, independent non-executive directors, CFO, and the Secretary of the Board [2] - Investors can submit questions from August 29, 2025, to September 4, 2025, before 16:00 through the designated website or via email [2] - After the briefing, investors can access the main content and details of the event on the company's website and the Shanghai Stock Exchange Roadshow Center [3]

宗旨 中国海洋石油有限公司 审核委员会章程 1. 审核委员会（"审核委员会"）的宗旨是协助中国海洋石油有限公司（"公 司"）董事会（"董事会"）履行其有关公司财务报表的完整性、负责公司年 度审计的外部审计师（"外部审计师"）的独立性、资质与表现、遵守法律法 规要求、持续监察公司的风险管理及内部监控系统以及内部审计功能等职责， 并编制审核委员会报告以并入《香港联合交易所有限公司证券上市规则》 （"《香港联交所上市规则》"）与《上海证券交易所股票上市规则》可能要求 的报告（如需要）。审核委员会也负责履行若干与企业管治有关的职责和职 能。 组织结构 2. 审核委员会成员由董事会不时任命，由不少于三名非执行董事组成。审核委员 会大多数成员应为独立非执行董事，其应满足并保持香港联合交易所有限公司 （"香港联交所"）、上海证券交易所等公司股票上市地证券监督管理部门不 时对独立性与经验方面（如有）的要求；且应具有五年以上法律、经济（金 融）或者其他履行独立非执行董事职责所必需的工作经验；至少应有一名成员 是董事会认为的符合相关法律、法规及规范性文件规定的具有会计或相关财务 管理专业知识的人员。 董事会应任命审核委员会中一名 ...

Group 1 - The Hong Kong stock market has shown strong performance this year, with the Hang Seng Index rising over 28%, leading major global indices and reaching a nearly four-year high [1] - Foreign capital is rapidly increasing its allocation to Chinese assets, with emerging market funds reducing their holdings in Indian stocks and increasing their allocations to H-shares and A-shares [1][3] - In July, foreign funds saw a significant inflow into Chinese stocks, increasing from $1.2 billion in June to $2.7 billion [1][3] Group 2 - Domestic investors are also increasing their investments in the Hong Kong stock market, with southbound capital net buying reaching a record high of HKD 35.876 billion on August 15 [1][5] - Southbound capital has become a core source of funds for the Hong Kong market, with cumulative net inflows exceeding HKD 970 billion this year [5] - The technology, new consumption, and innovative pharmaceutical sectors have attracted significant capital, with the Hong Kong Stock Connect innovative drug index rising over 58% in the past year [5][6] Group 3 - Analysts believe that the rise of the Hong Kong stock market is driven by both internal and external factors, including a weakening US dollar and a low interest rate environment in mainland China [3][4] - The "barbell strategy" is prevalent among institutional investors, focusing on both dividend-yielding assets and growth sectors like technology and innovative pharmaceuticals [8][9] - The potential for a preventive interest rate cut by the Federal Reserve could drive international capital towards emerging markets, including Hong Kong [11][12] Group 4 - The performance of the Hong Kong stock market is sensitive to changes in US monetary policy, with historical data showing varying impacts of rate cuts on market performance [11][12] - Current trends indicate that the technology sector in Hong Kong may maintain strong momentum, supported by favorable policies and market conditions [13]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, attributed to external pressures and fluctuating international oil prices, while maintaining a focus on increasing reserves and production through technological innovation and green transformation [7][13]. Financial Performance - Revenue for the first half of 2025 was RMB 207.6 billion, a decrease of 8% compared to RMB 226.8 billion in the same period last year [12]. - Total profit was RMB 94.7 billion, down 11% from RMB 105.8 billion year-on-year [12]. - Net profit attributable to shareholders was RMB 69.5 billion, reflecting a 13% decline from RMB 79.7 billion [12]. - The company declared an interim dividend of HKD 0.73 per share [2]. Operational Highlights - The company achieved a net production of 384.6 million barrels of oil equivalent, an increase of 6.1% year-on-year, with significant growth in natural gas production by 12% [13]. - New oil and gas discoveries were made in Chinese waters, including five new finds, enhancing the company's exploration portfolio [7][13]. - The company successfully launched several major projects, including the Buzios 7 and Mero 4 projects in Brazil, contributing to production growth [7][13]. Technological and Environmental Initiatives - The company emphasized technological innovation, achieving breakthroughs in geophysical exploration and enhancing production efficiency through smart technologies [8][14]. - Efforts in green transformation included the implementation of the first offshore CCUS project in China and the promotion of clean energy initiatives [8][15]. Strategic Outlook - The company aims to maintain strategic focus and confidence in achieving annual targets despite external challenges, with plans to enhance shareholder returns and continue building a world-class energy company [9][13].

Core Viewpoint - China National Offshore Oil Corporation (CNOOC) reported a decline in revenue and profits for the first half of 2025, attributed to fluctuating international oil prices and a focus on high-quality development and technological innovation [8][9]. Financial Performance - Revenue for the first half of 2025 was RMB 207.608 billion, a decrease of 8% compared to RMB 226.770 billion in the same period last year [6]. - Total profit was RMB 94.659 billion, down 11% from RMB 105.776 billion year-on-year [6]. - Net profit attributable to shareholders was RMB 69.533 billion, a 13% decline from RMB 79.731 billion [6]. - The company declared an interim dividend of HKD 0.73 per share for 2025 [2]. Production and Operations - CNOOC achieved a net production of 384.6 million barrels of oil equivalent in the first half of 2025, an increase of 6.1% year-on-year [11]. - Domestic production contributed 69.3% of the total net production, with significant contributions from projects like "Deep Sea No. 1" [8][11]. - The company made five new discoveries in Chinese waters and signed contracts for oil exploration in Iraq and Kazakhstan [9][10]. Technological Innovation - CNOOC enhanced its research capabilities in oil and gas exploration, achieving a historical low natural decline rate of 9.5% through advanced technologies [13]. - The company is focusing on digital transformation and has implemented AI technologies for efficient operations and emergency responses [13]. Environmental Initiatives - CNOOC is committed to green development, achieving significant energy savings and carbon reduction through various projects, including the first "zero flaring" oil platform in China [13][14]. - The company has also initiated a CCUS project to promote carbon capture and utilization [14]. Community Engagement - CNOOC invested RMB 70.55 million in rural revitalization projects across several provinces, focusing on agricultural development and improving living conditions [15].

Group 1 - The Audit Committee is responsible for overseeing the integrity of the company's financial statements, the independence and performance of external auditors, compliance with legal regulations, and monitoring the company's risk management and internal control systems [1][10][18] - The majority of the Audit Committee members should be independent non-executive directors with relevant experience, including at least one member with accounting or financial management expertise [2][7] - The Audit Committee must meet at least once a year in person, with additional meetings conducted via teleconference or electronic communication, ensuring that all meeting documents are distributed at least three days in advance [2][4] Group 2 - The Audit Committee has the authority to review and monitor the independence of external auditors and to address any issues related to their appointment, resignation, or dismissal [7][9] - The committee is tasked with evaluating the effectiveness of the company's internal audit function and ensuring it has adequate resources and authority [12][14] - The committee must also review the company's risk management and internal control systems annually, including any significant findings related to financial reporting and compliance with applicable regulations [10][11][15] Group 3 - The Audit Committee is required to communicate regularly with external auditors and management regarding any significant issues arising during the audit process [6][8] - The committee should establish a whistleblower policy to allow employees and other stakeholders to report concerns about financial reporting or internal controls confidentially [10][15] - The committee is responsible for recommending the appointment or dismissal of the Chief Financial Officer to the board [10][11]

Group 1 - The board of directors of China National Offshore Oil Corporation (CNOOC) held its ninth meeting of 2025 on August 27, 2025, with 9 directors invited and 7 present, ensuring compliance with legal and regulatory requirements [1] - The board approved the mid-term performance and semi-annual report, which was reviewed by the audit committee prior to submission [1] - The board also approved the mid-term dividend distribution plan, with unanimous support from all voting directors [2] Group 2 - The board reviewed and approved the semi-annual risk assessment report of the financial company, with 4 votes in favor and no opposition, while some directors abstained from voting [2] - The board approved the report on the management and actual use of raised funds for the first half of 2025, receiving unanimous support [2] - The board approved the annual review of the audit committee's charter and confirmed compliance with the revised Code of Conduct for directors and senior management [3]

Group 1 - The company plans to distribute an interim dividend of HKD 0.73 per share (tax included) [1][2] - The total undistributed profits of the company as of June 30, 2025, amount to RMB 211.35 billion [1] - The actual total dividend distribution will be determined based on the number of issued shares on the record date for the dividend distribution [1][2] Group 2 - The board of directors approved the interim dividend distribution plan with a unanimous vote of 9 in favor, 0 against, and 0 abstentions [2] - The interim dividend distribution plan does not require submission for shareholder meeting approval as per the resolution from the 2024 annual general meeting [2]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：600938 证券简称：中国海油 公告编号：2025-024 中国海洋石油有限公司 2025 年第九次董事会决议公告 一、董事会会议召开情况 中国海洋石油有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开 2025 年第九次董事会。本次董事会的会议通知及议案已于 2025 年 8 月 12 日发送给公 司全体董事。本次会议应出席董事 9 人，实际出席董事 7 人，董事长、非执行董 事张传江先生和非执行董事王德华先生因公不能到会，均已书面委托副董事长、 执行董事周心怀先生代为出席会议并行使表决权。会议由副董事长周心怀先生主 持。会议的召集、召开、表决程序符合有关法律法规及《中国海洋石油有限公司 组织章程细则》的相关规定，合法、有效。 二、董事会审议情况 （一）审议通过《关于公司中期业绩及半年度报告的议案》 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）披露的《中国 海洋石油有限公司 2025 年半年度报告》及其摘要。本议案已经公司审核 ...