Financial Performance - Sinopec Oilfield Service Corporation reported its annual financial results for 2023, ensuring the accuracy and completeness of the report[3]. - The company's operating revenue for 2023 reached RMB 79,980,939 thousand, an increase of 8.4% compared to RMB 73,772,688 thousand in 2022[11]. - Net profit attributable to shareholders for 2023 was RMB 589,216 thousand, reflecting a growth of 23.8% from RMB 475,898 thousand in the previous year[11]. - The net cash flow from operating activities increased by 32.9% to RMB 5,576,913 thousand in 2023, up from RMB 4,197,869 thousand in 2022[11]. - The total assets of the company at the end of 2023 were RMB 75,162,974 thousand, representing a 5.6% increase from RMB 71,208,061 thousand at the end of 2022[11]. - Basic earnings per share for 2023 were RMB 0.031, a 24.0% increase from RMB 0.025 in 2022[12]. - The weighted average return on net assets rose to 7.63% in 2023, an increase of 0.93 percentage points from 6.70% in 2022[12]. - The company reported a net profit of RMB 145,611 thousand in Q4 2023, with total operating revenue for the quarter at RMB 24,137,963 thousand[15]. - The company's net assets attributable to shareholders at the end of 2023 were RMB 8,023,202 thousand, an increase of 8.0% from RMB 7,429,734 thousand at the end of 2022[11]. - The company achieved consolidated operating revenue of RMB 79.8 billion, an increase of 8.4% year-on-year, marking the best performance since the 13th Five-Year Plan[22]. Market Expansion and Strategy - Sinopec is committed to expanding its market presence and exploring new technologies, including carbon capture, utilization, and storage (CCUS)[6]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[11]. - The company signed new contracts worth RMB 82.4 billion, an increase of RMB 1.4 billion compared to the previous year, with 112 contracts exceeding RMB 100 million each[24]. - The overseas market contributed RMB 16.7 billion in new contracts and RMB 16.09 billion in main business revenue, with year-on-year growth of 7.1% and 23.6% respectively[24]. - The company plans to sign new contracts exceeding RMB 83.5 billion in 2024, focusing on enhancing market share and operational efficiency[24]. - The company is actively developing new markets in geothermal, wind power, solar energy, hydrogen, and CCUS technologies[24]. Operational Efficiency and Innovations - The company aims to enhance operational efficiency through its "Four Improvements" strategy, focusing on quality, efficiency, speed, and production[6]. - The drilling team's annual footage increased from 17,900 meters to 21,100 meters, improving efficiency by 17.9%[24]. - The company generated RMB 5.6 billion in cost savings through comprehensive cost management initiatives[24]. - The company recorded a total of 20 major technological innovation achievements and received 20 provincial and ministerial-level awards in 2023[22]. - The company completed drilling of 10.98 million meters, with 31 wells exceeding 8,000 meters, contributing to the development of deep earth engineering[22]. Research and Development - The company applied for 1,004 patents in 2023, with 541 patents granted, and achieved a revenue of RMB 3.1 billion from technology commercialization[36]. - Research and development expenditures rose to RMB 2.08 billion, a 13.3% increase from RMB 1.84 billion, reflecting enhanced investment in high-tech enterprises[44]. - The company has a total of 3,991 employees with a master's degree or higher, reflecting a highly educated workforce[144]. Governance and Compliance - The company is committed to protecting the legal interests of shareholders and enhancing corporate governance[114]. - The company has maintained a consistent governance structure with no changes in the roles of key executives during the reporting period[119]. - The company has established a comprehensive environmental impact assessment system and did not experience any environmental pollution incidents in 2023[103]. - The independent non-executive directors constitute over one-third of the board, ensuring a diverse and independent governance structure[167]. - The company has implemented a term-based and contractual management system for its leadership, aligning with the operational goals for 2023[160]. Environmental Responsibility - The company invested RMB 124,916 million in environmental protection during the reporting period[190]. - The total waste generated in 2023 included 21,000 tons of general solid waste and 3,300 tons of hazardous waste, all disposed of in compliance with regulations[191]. - The comprehensive energy consumption per ten thousand yuan of industrial output decreased by 10% to 0.181 tons of standard coal in 2023[191]. - The company reduced carbon emissions by 1.217 million tons during the reporting period[194]. - The company has actively promoted the application of carbon dioxide-enhanced fracturing technology to reduce environmental emissions[195]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[121]. - The company plans to complete 3,600 kilometers of 2D seismic acquisition and 15,000 square kilometers of 3D seismic acquisition in 2024[75]. - The company aims for an annual output value of over RMB 3.5 billion from new technology transformation and industrialization[82]. - The company plans to allocate capital expenditures of RMB 4 billion in 2024, with RMB 3.5 billion for fixed asset investments, including the upgrade of 21 drilling rigs and the purchase of 14 fracturing trucks[85].

Financial Performance - Total revenue for 2023 reached RMB 79,980,939 thousand, an increase of 8.4% compared to RMB 73,772,688 thousand in 2022[6] - Net profit attributable to shareholders for 2023 was RMB 589,216 thousand, representing a 23.8% increase from RMB 475,898 thousand in 2022[7] - Operating profit for 2023 was RMB 899,969 thousand, up 22.9% from RMB 732,392 thousand in 2022[7] - Basic earnings per share for 2023 were RMB 0.031, a 24.0% increase from RMB 0.025 in 2022[9] - The net cash flow from operating activities for 2023 was RMB 5,576,913 thousand, representing a 32.9% increase from RMB 4,197,869 thousand in 2022[7] - The company reported a pre-tax profit of RMB 915,207 thousand for 2023, up from RMB 837,162 thousand in 2022[6] - The company reported a total comprehensive income for the year of RMB 593,468 thousand, compared to RMB 577,886 thousand in 2022, indicating an increase of approximately 2.7%[83] - The net profit attributable to shareholders for 2023 is RMB 589,216 thousand according to Chinese accounting standards, and RMB 576,083 thousand according to IFRS[64] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 75,162,974 thousand, a 5.6% increase from RMB 71,208,061 thousand in 2022[8] - The company’s total liabilities as of December 31, 2023, were RMB 67,139,772 thousand, an increase from RMB 63,778,327 thousand in 2022[6] - The equity attributable to shareholders increased to RMB 8,023,202 thousand, reflecting an 8.0% growth from RMB 7,429,734 thousand in 2022[8] - The company’s total current liabilities amounted to RMB 66,186,004,000, an increase from RMB 62,519,655,000 in the previous year, indicating a growth of about 11%[85] - The total amount of guarantees provided by the company, including those for subsidiaries, is RMB 29,447,108, which accounts for 367.0% of the company's net assets[73] Shareholder Information - The top shareholder, China Petroleum & Chemical Corporation, holds 10,727,896,364 shares, representing 56.51% of the total shares[15] - The total number of shareholders as of December 31, 2023, was 115,374, with 115,048 being domestic A-share shareholders[14] - The controlling shareholder, Sinopec Group, holds a total of 13,323,683,351 shares, representing 70.18% of the company's total shares[23] Operational Highlights - The company achieved a historical high in domestic oil and gas production, benefiting from national energy security strategies[33] - The drilling service segment generated RMB 39.8 billion in revenue, an 8.1% increase from RMB 36.81 billion in the previous year[36] - The geophysical service segment reported revenue of RMB 5.67 billion, a 19.2% increase from RMB 4.76 billion year-on-year[35] - The company completed drilling footage of 10.98 million meters, reflecting a year-on-year growth of 10.0%[36] - The company’s revenue from downhole special operations services reached RMB 10.7 billion in 2023, a 14.2% increase from RMB 9.37 billion in the same period last year[38] Research and Development - The company applied for 1,004 patents in 2023, with 541 patents granted, reflecting a strong focus on technological innovation and research and development[41] - The company's R&D expenses for the year were RMB 2,083,796 thousand, up from RMB 1,838,969 thousand in 2022, marking an increase of approximately 13.3%[82] Future Plans - The company plans to sign new contracts worth RMB 83.5 billion in 2024, including RMB 56.5 billion from Sinopec Group's internal market[54] - The company aims to complete 3,600 kilometers of 2D seismic acquisition and 15,000 square kilometers of 3D seismic acquisition in 2024[55] - The company plans to reduce management costs by RMB 650 million through optimization and efficiency improvements in 2024[62] Related Party Transactions - Major related party transactions include procurement of raw materials and equipment from Sinopec Group amounting to RMB 10,383,643 thousand, representing 34.2% of similar transactions[66] - Engineering services provided to Sinopec Group totaled RMB 49,123,887 thousand, accounting for 62.4% of similar transactions[66] Financial Management - The company has secured a borrowing credit line of RMB 23 billion and USD 300 million (approximately RMB 24.8 billion) from subsidiaries of Sinopec Group[89] - The company maintains a long-term good relationship with Sinopec Group, ensuring sufficient financial support for its operations[89] - The company’s financing activities generated a net cash inflow of RMB 558,226 thousand, an increase of RMB 493,023 thousand year-on-year[47]

智通财经APP讯，中石化油服(01033)发布公告，近日，该公司全资子公司中石化石油工程建设有限公司 中标山东省东营港25万吨级原油进口泊位及配套工程项目二标段项目(该项目)，中标金额约为人民币 14.34亿元，约占本公司中国会计准则下2022年营业收入的1.94%。 公司主要负责承建全长约63.5公里海底输油管道，工期为532天。中标该项目彰显了公司海洋工程品牌 硬实力。目前相关方尚未正式签署合同，该项目仍存在不确定性，敬请投资者注意投资风险。 ...

Financial Performance - Operating revenue for Q3 2023 was RMB 18,709,448 thousand, representing a 5.1% increase compared to RMB 17,806,415 thousand in the same period last year[4] - Net profit attributable to shareholders for Q3 2023 was RMB 117,701 thousand, a 48.8% increase from RMB 76,106 thousand year-on-year[4] - Net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was RMB 76,107 thousand, up 136.8% from RMB 29,120 thousand in the same period last year[4] - Basic earnings per share for Q3 2023 was RMB 0.006, a 50.0% increase from RMB 0.004 in the same period last year[4] - The net profit attributable to shareholders for the year-to-date period increased by 55.4% to RMB 443,605 thousand compared to RMB 276,374 thousand in the same period last year[4] - The company's consolidated operating revenue for the first three quarters of 2023 was RMB 55.84 billion, representing a year-on-year growth of 9.6%[12] - The net profit attributable to shareholders for the first three quarters of 2023 was RMB 440 million, reflecting a significant year-on-year increase of 55.4%[12] - Operating profit for the first three quarters of 2023 was RMB 674,534 thousand, up 51.8% from RMB 444,314 thousand in the first three quarters of 2022[16] - Net profit for the first three quarters of 2023 was RMB 443,605 thousand, representing a 55.5% increase from RMB 285,438 thousand in the same period of 2022[17] - The company reported a basic earnings per share of RMB 0.023 for the first three quarters of 2023, up from RMB 0.015 in the same period of 2022[17] Assets and Liabilities - Total assets as of September 30, 2023, were RMB 74,532,190 thousand, reflecting a 4.7% increase from the previous year[4] - As of September 30, 2023, the total assets of the company amounted to RMB 74.53 billion, compared to RMB 71.21 billion at the end of 2022[13] - The company's total current assets reached RMB 43.16 billion, up from RMB 36.54 billion at the end of 2022[13] - Total liabilities increased to RMB 66,262,908 thousand in 2023 from RMB 63,778,327 thousand in 2022, reflecting a growth of 3.9%[14] - The company's total equity attributable to shareholders rose to RMB 8,269,282 thousand in 2023, compared to RMB 7,429,734 thousand in 2022, marking an increase of 11.3%[14] Cash Flow - Net cash flow from operating activities for the year-to-date period was RMB 1,234,601 thousand, compared to a negative cash flow of RMB -973,896 thousand in the same period last year[4] - Cash flow from operating activities generated a net amount of RMB 1,234,601 thousand in the first three quarters of 2023, compared to a net outflow of RMB -973,896 thousand in the same period of 2022[18] - The company's cash and cash equivalents increased to RMB 2.01 billion from RMB 1.84 billion at the end of 2022[13] - Cash inflow from borrowing was $19,446,360, significantly lower than $38,179,500 in the previous period[19] - Cash outflow for debt repayment was $17,007,201, down from $36,317,762 last year[19] - The net increase in cash and cash equivalents was $212,784, contrasting with a decrease of $756,747 in the prior year[19] Contracts and Workload - In the first three quarters of 2023, the company signed new contracts totaling RMB 70.69 billion, an increase of 8.1% year-on-year, with new contracts from Sinopec Group amounting to RMB 43.7 billion, up 11.9% year-on-year[12] - The company reported a significant increase in workload, which contributed to the rise in revenue and profits[7] Research and Development - Research and development expenses for the first three quarters of 2023 totaled RMB 1,121,565 thousand, slightly higher than RMB 1,076,878 thousand in the same period of 2022[16] Shareholder Information - The company reported a total of 10,727,896,364 A shares held by Sinopec Group, representing 56.51% of total shares[11] - The company has a total of 107,063 shareholders as of the reporting period[10] Accounting Standards - The company did not apply new accounting standards or interpretations for the current year[19]

Financial Performance - The company reported a significant increase in revenue for the first half of 2023, with a year-on-year growth of 15%[6]. - The company's operating revenue for the reporting period reached RMB 37,133,528 thousand, representing a 12.0% increase compared to RMB 33,148,652 thousand in the same period last year[17]. - Net profit attributable to shareholders was RMB 325,904 thousand, a significant increase of 58.0% from RMB 206,310 thousand in the previous year[17]. - The company's net profit attributable to shareholders reached RMB 649,120 thousand, a 15.6% increase compared to RMB 561,684 thousand in the same period last year[26]. - The total operating revenue for the first half of 2023 reached RMB 36,788,467 thousand, with a gross profit margin of 6.9%, reflecting a 12.4% increase compared to the same period last year[53]. - The company’s total profit for the first half of 2023 was RMB 541,574 thousand, an increase of 43.3% from RMB 377,377 thousand in the previous year[144]. User and Market Growth - User data showed an increase in active users by 20% compared to the previous year, reaching a total of 1.5 million users[7]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by the end of 2024[12]. - New product launches are expected to contribute an additional 5% to revenue in the second half of 2023[11]. - The company aims to enhance its market presence through a strategy focused on professionalization, marketization, internationalization, and high-end services[28]. Research and Development - Research and development investments increased by 30% in 2023, focusing on carbon capture and storage technologies[13]. - Research and development expenses rose to RMB 815,114 thousand, reflecting a 22.2% increase from RMB 666,919 thousand year-on-year[44]. - The company is committed to addressing bottleneck technology issues in oil and gas exploration, with a focus on deep well technology research and application[64]. - The company is actively pursuing the development of new technologies and products, including automated drilling equipment and drilling fluid treatment agents[64]. Financial Position - The total assets of the company at the end of the reporting period were RMB 72,830,971 thousand, reflecting a 2.3% increase from RMB 71,208,061 thousand at the end of the previous year[18]. - The net assets attributable to shareholders increased to RMB 8,078,854 thousand, an 8.7% rise from RMB 7,429,734 thousand at the end of the previous year[18]. - The company reported a total liability of RMB 64,752,117 thousand, which is a 1.5% increase from RMB 63,778,327 thousand in the previous year[25]. - The asset-liability ratio as of June 30, 2023, was 88.9%, a slight decrease from 89.6% at the end of 2022[73]. Cash Flow and Financing - The net cash flow from operating activities improved to RMB 421,612 thousand, compared to a negative cash flow of RMB -537,926 thousand in the same period last year[17]. - The net cash inflow from operating activities for the first half of 2023 was RMB 421,612 thousand, an increase of RMB 959,538 thousand compared to the same period in 2022[75]. - The net cash outflow from investing activities in the first half of 2023 was RMB 1,633,442 thousand, an increase of RMB 1,140,851 thousand year-on-year, primarily due to increased equipment purchase payments[75]. - The company plans to increase capital expenditure to RMB 3.75 billion in the second half of 2023, focusing on enhancing exploration and development service capabilities[66]. Environmental Commitment - The management team emphasized a commitment to sustainability, aiming for a 40% reduction in carbon emissions by 2025[11]. - The company reported a carbon emission volume of 1.184 million tons in the first half of 2023, with targeted training for carbon asset management personnel[93]. - The company has implemented a "Energy Efficiency Doubling" plan, promoting energy-saving technologies such as electric fracturing and cementing equipment[90]. - The company has established a comprehensive environmental emergency management system and regularly conducts training and drills for emergency response teams[90]. Strategic Initiatives - The company has completed two strategic acquisitions in the past six months, enhancing its service capabilities in offshore drilling[9]. - The company aims to enhance its international business presence in markets such as Saudi Arabia, Kuwait, Ecuador, Mexico, and Uganda, focusing on key project management and operational efficiency[63]. - The company plans to sign new contracts worth over RMB 246 billion in the second half of 2023, with RMB 177 billion expected from Sinopec Group[56]. - The company anticipates continued recovery in the oil service industry, with stable demand for drilling rigs and overall work volume expected to rise[55]. Corporate Governance and Compliance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations during the reporting period[86]. - The company did not declare any interim dividends for the period ending June 30, 2023, nor did it plan to convert capital reserves into share capital[84]. - The company has retained the accounting firm for the 2023 annual audit, with no changes in auditors during the reporting period[101]. - The company reported no legal investigations or penalties against its directors, supervisors, senior management, or major shareholders during the reporting period[105].

Financial Performance - Operating revenue for the first half of 2023 was RMB 37,133,528 thousand, representing a 12.0% increase compared to RMB 33,148,652 thousand in the same period of 2022[8]. - Net profit attributable to shareholders for the first half of 2023 was RMB 325,904 thousand, a significant increase of 58.0% from RMB 206,310 thousand in the previous year[8]. - Basic earnings per share for the first half of 2023 was RMB 0.034, up 13.3% from RMB 0.030 in the same period of 2022[7]. - The company reported a total profit of RMB 541,574 thousand for the first half of 2023, which is a 43.5% increase from RMB 377,377 thousand in the same period of 2022[8]. - The company's total comprehensive income for the first half of 2023 is RMB 325,904,000, which includes a special reserve increase of RMB 323,216,000[171]. - The net profit attributable to the parent company for the six months ended June 30, 2023, is RMB 325,904,000, compared to RMB 206,310,000 for the same period in 2022, reflecting a year-over-year increase of approximately 57.7%[171]. Assets and Liabilities - Total assets as of June 30, 2023, reached RMB 72,830,971 thousand, an increase of 2.3% from RMB 71,208,061 thousand as of December 31, 2022[7]. - The total liabilities increased to RMB 64,752,117 thousand, up by RMB 973,790 thousand from the end of 2022, primarily due to an increase in short-term borrowings of RMB 1,745,462 thousand[37]. - The equity attributable to shareholders reached RMB 8,078,854 thousand, reflecting an increase of RMB 649,120 thousand, driven by the net profit for the first half of 2023[37]. - The company's cash and cash equivalents were RMB 1,759,808 thousand, a decrease from RMB 1,801,150 thousand at the end of 2022[71]. - The company's total liabilities for reportable segments were RMB 64,752,117 thousand as of June 30, 2023[89]. Cash Flow - Cash flow from operating activities for the first half of 2023 was RMB 421,612 thousand, a recovery from a negative cash flow of RMB -537,926 thousand in the same period of 2022[8]. - The net cash inflow from operating activities for the first half of 2023 was RMB 421,612 thousand, a year-on-year increase of RMB 959,538 thousand[37]. - Cash flow from financing activities showed a net increase of RMB 1,100,090 thousand, compared to RMB 305,843 thousand in the previous year[167]. Shareholder Information - The company had a total of 113,975 shareholders as of June 30, 2023, with 113,644 being A-share shareholders and 331 being H-share shareholders[13]. - The top ten shareholders held a total of 10,727,896,364 A-shares, representing 56.51% of the total shareholding[14]. - China Petroleum & Chemical Corporation (Sinopec) directly and indirectly holds 13,323,683,351 shares, accounting for 70.18% of the total shares[15]. Revenue Segments - The company's geophysical services achieved a revenue of RMB 2,019,633 thousand in the first half of 2023, a growth of 33.6% compared to RMB 1,512,225 thousand in the same period last year[28]. - The drilling services segment reported a revenue of RMB 18,867,989 thousand, up 13.4% from RMB 16,635,798 thousand year-on-year, with a drilling footage of 5.61 million meters, an increase of 15.2%[29]. - International business revenue reached RMB 7,795,859 thousand, a significant increase of 38.0% from RMB 5,650,053 thousand, accounting for 21.2% of total revenue[33]. Research and Development - Research and development expenses for the period were RMB 815,114 thousand, compared to RMB 666,919 thousand in the same period last year, indicating a focus on innovation[68]. - The company applied for 431 patents in the first half of 2023, including 217 invention patents, enhancing its innovation capabilities[34]. Future Plans and Commitments - The group plans to sign new contracts worth over RMB 246 billion in the second half of 2023, with RMB 177 billion expected from Sinopec Group[43]. - The company plans to invest RMB 3.75 billion in capital expenditures in the second half of 2023, including the purchase of 8 drilling rigs and upgrades to 4 existing rigs[52]. - The company aims to sign new contracts worth RMB 7.6 billion and complete contracts worth RMB 8.5 billion in the engineering construction service sector in the second half of 2023[48]. Related Party Transactions - The company reported significant related party transactions, including RMB 22.57 billion for engineering services provided to Sinopec Group, accounting for 61.5% of similar transactions[55]. - Significant related party transactions with Sinopec Group and its subsidiaries for the six months ended June 30, 2023, include procurement of materials and equipment amounting to RMB 4,834.02 million, compared to RMB 5,183.88 million in 2022[150]. Legal and Compliance - The company has not faced any investigations or legal actions from authorities during the reporting period, ensuring operational stability[66]. - The company has engaged local legal support in Chile to assist with the arbitration proceedings[145]. Operational Efficiency - The company maintained a stable and efficient operation despite a year-on-year decline in international oil prices, demonstrating resilience in its business model[26]. - The company achieved a 100% data qualification rate in logging services, indicating improved service quality and operational efficiency[30].

Financial Performance - The company's operating revenue for Q1 2023 was RMB 17,941,753 thousand, representing a 16.9% increase compared to RMB 15,347,614 thousand in the same period last year[3] - Net profit attributable to shareholders of the listed company was RMB 145,114 thousand, a significant increase of 95.6% from RMB 68,290 thousand year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 164,011 thousand, reflecting a 198.1% increase from RMB 49,132 thousand in the previous year[4] - Basic and diluted earnings per share both reached RMB 0.008, doubling from RMB 0.004 in the same period last year[4] - Operating profit for Q1 2023 was 275,291 thousand RMB, representing a 111.1% increase compared to 130,165 thousand RMB in Q1 2022[18] - The company reported a total profit of 241,973 thousand RMB for Q1 2023, which is an increase of 89.5% from 127,595 thousand RMB in Q1 2022[18] Cash Flow - The net cash flow from operating activities was RMB -521,584 thousand, an improvement from RMB -902,539 thousand in the previous year[4] - Cash flow from operating activities showed a net outflow of 521,584 thousand RMB in Q1 2023, an improvement from a net outflow of 902,539 thousand RMB in Q1 2022[20] - Cash flow from investing activities resulted in a net outflow of 276,188 thousand RMB in Q1 2023, compared to a net outflow of 224,681 thousand RMB in Q1 2022[21] - Cash flow from financing activities generated a net inflow of 829,240 thousand RMB in Q1 2023, up from 357,572 thousand RMB in Q1 2022[21] Assets and Liabilities - Total assets at the end of the reporting period were RMB 71,390,840 thousand, showing a slight increase of 0.3% from RMB 71,200,517 thousand at the end of the previous year[4] - As of March 31, 2023, total assets were RMB 71.39 billion, slightly up from RMB 71.21 billion at the end of 2022[15][16] - The company's total liabilities as of March 31, 2023, were RMB 63.62 billion, down from RMB 63.78 billion at the end of 2022[16] - Current assets totaled RMB 38.08 billion, an increase from RMB 36.54 billion at the end of 2022[15] - The equity attributable to shareholders was RMB 7.77 billion, an increase from RMB 7.43 billion at the end of 2022[16] Shareholder Information - Shareholders' equity attributable to shareholders of the listed company increased by 4.6% to RMB 7,768,798 thousand from RMB 7,427,319 thousand year-on-year[4] - The total number of ordinary shareholders at the end of the reporting period was 115,391[8] Contracts and Market Performance - The total new contracts signed in Q1 2023 amounted to RMB 31.42 billion, reflecting a year-on-year increase of 5.6%[13] - New contracts signed with China Petroleum Group reached RMB 18.1 billion, up 11.0% year-on-year[13] - New contracts in the domestic external market surged to RMB 7.89 billion, marking a substantial year-on-year increase of 116.2%[13] - New contracts in the overseas market totaled RMB 5.43 billion, showing a year-on-year decline of 44.6%[13] Expenses - Total operating costs for Q1 2023 were 17,681,249 thousand RMB, an increase of 15.5% from 15,250,605 thousand RMB in Q1 2022[18] - Research and development expenses decreased to 210,757 thousand RMB in Q1 2023 from 310,442 thousand RMB in Q1 2022, a reduction of 32.1%[18] Other Financial Aspects - The company reported a loss of RMB 5,402 thousand from the disposal of non-current assets during the period[5] - Government subsidies recognized in the current period amounted to RMB 7,414 thousand, contributing positively to the financial results[5]

Financial Performance - The net profit attributable to shareholders for 2022 was RMB 463,814 thousand according to Chinese accounting standards, and RMB 571,615 thousand according to International Financial Reporting Standards[7]. - The company's operating revenue for 2022 was RMB 73,772.688 million, representing a 6.1% increase compared to RMB 69,533.053 million in 2021[17]. - Net profit attributable to shareholders for 2022 reached RMB 463.814 million, a significant increase of 158.0% from RMB 179.791 million in 2021[17]. - The total assets at the end of 2022 were RMB 71,200.517 million, an increase of 11.2% from RMB 64,052.447 million at the end of 2021[17]. - The company reported a weighted average return on equity of 6.54% for 2022, an increase of 3.90 percentage points from 2.64% in 2021[18]. - The net profit attributable to shareholders under international accounting standards for 2022 was RMB 571.615 million, compared to RMB 140.450 million in the previous year[19]. - The company's equity attributable to shareholders was RMB 7.43 billion, up from RMB 6.86 billion in 2021[24]. - The company reported a total R&D investment of RMB 1,838,968 thousand, accounting for 2.49% of total revenue[51]. - The company’s total liabilities as of December 31, 2022, were RMB 63,773,198 thousand, reflecting an increase of 11.5% from RMB 57,190,930 thousand in 2021[87]. Dividend and Profit Distribution - The company reported a negative retained earnings of RMB -1,946,364 thousand at the end of 2022, leading to a recommendation of no cash dividend distribution for the year[7]. - The board of directors has proposed that the profit distribution plan for 2022 be submitted for shareholder approval due to the negative retained earnings situation[7]. - The company plans to implement a cash dividend policy of at least 40% of the net profit attributable to shareholders, but due to negative retained earnings at the end of 2022, no cash dividends will be distributed for that year[130]. - The company reported a positive profit available for distribution to shareholders but did not propose a cash profit distribution plan, which is not applicable for disclosure[132]. Governance and Compliance - The company has a strong governance structure with a board of directors ensuring the integrity of the annual report[7]. - The company emphasizes that forward-looking statements regarding future plans and strategies involve uncertainties and do not constitute a commitment to investors[7]. - The company has not violated any regulatory decision-making procedures in providing guarantees[7]. - The company has established a comprehensive environmental impact assessment system and did not experience any environmental pollution incidents in 2022[96]. - The company strictly complied with relevant laws and regulations in 2022, with no complaints, fines, or sanctions due to violations[97]. - The board of directors held a total of six meetings in 2022, including four regular meetings, to fulfill its responsibilities[142]. - The company has established a system for providing relevant data to directors to aid in decision-making, ensuring timely access to information[149]. - The company has implemented a robust risk assessment and business process optimization strategy to enhance internal controls[139]. Operational Strategy and Market Presence - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[1]. - The company aims to enhance its research and development capabilities, particularly in low-carbon technologies and new energy sectors, to support sustainable development[28]. - The company is actively participating in emerging markets such as CCUS, geothermal, coalbed methane, and hydrogen energy[28]. - The company aims to enhance its sustainability initiatives, targeting a 20% reduction in carbon emissions by 2025[112]. - The company is focusing on high-quality market segments to support its growth strategy and aims to achieve a higher concentration of its advantageous businesses[28]. Research and Development - The company authorized 787 patents in 2022 and set 579 new construction records[26]. - Research and development expenses rose to RMB 1,838.968 million, a 10.1% increase from RMB 1,669.706 million, reflecting increased investment in key technologies[43]. - The company aims to enhance its R&D capabilities by focusing on high-temperature and high-pressure equipment, with an emphasis on domestic production of advanced tools[79]. Environmental and Social Responsibility - The company invested RMB 115,930.7 million in environmental protection during the reporting period[162]. - The total industrial energy consumption per ten thousand yuan of output was 0.201 tons of standard coal, a year-on-year decrease of 14.1%[163]. - The company has implemented measures to control environmental risks throughout the drilling process, enhancing overall environmental protection levels[164]. - Total charitable contributions amounted to RMB 1.7641 million, benefiting approximately 20,000 people[169]. Related Party Transactions - Related party transactions included procurement of raw materials and equipment totaling RMB 12.18 billion, accounting for 32.3% of similar transactions[182]. - The company engaged in related party transactions with China Petroleum Group and its subsidiaries, ensuring stable supply of raw materials and engineering services, with a total transaction value not exceeding the annual limit approved by independent shareholders[183]. - The company’s independent non-executive directors reviewed the related party transactions and confirmed they were conducted under normal commercial terms and did not adversely affect the company’s independence[183]. Management and Leadership - The company has a structured remuneration decision process based on the responsibilities and performance of its directors, supervisors, and senior management[117]. - The company has maintained a stable management team with no changes in shareholding among directors and supervisors[109]. - The current chairman, Chen Xikun, has held various senior positions within Sinopec, including Chief Accountant and Vice General Manager, since 2003[110]. - The company acknowledges the contributions of retiring executives and expresses gratitude for their service[118]. Future Outlook - The company plans to sign new contracts worth over RMB 78 billion in 2023, focusing on optimizing resource allocation and enhancing project implementation efficiency[28]. - The company aims to complete 5,090 kilometers of 2D seismic acquisition and 16,000 square kilometers of 3D seismic acquisition in 2023[74]. - The company plans to improve fracturing efficiency by 10% and complete 6,070 well operations in 2023, focusing on shale gas development in the Sichuan Basin and tight oil production in the Ordos Basin[77].

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Financial Performance - The company's total revenue for 2022 was RMB 73,772,688, representing a 6.1% increase from RMB 69,533,053 in 2021[9]. - The net profit attributable to shareholders for 2022 was RMB 463,814, showing a significant increase of 158.0% compared to RMB 179,791 in 2021[9]. - The basic earnings per share for 2022 was RMB 0.024, a 166.7% increase from RMB 0.009 in 2021[10]. - The operating profit for 2022 was RMB 732,392, which is a 110.7% increase from RMB 347,678 in 2021[9]. - The return on equity for 2022 was 6.54%, an increase of 3.90 percentage points from 2.64% in 2021[10]. - The overall gross profit margin for 2022 was 7.3%, with a year-on-year increase of 0.7 percentage points[55]. - The net profit attributable to shareholders for the year ended December 31, 2022, was RMB 463,814,000, compared to RMB 179,791,000 for the year ended December 31, 2021, representing an increase of 158.5%[13]. - The net profit attributable to shareholders for 2022 was RMB 463,814 thousand, compared to RMB 179,791 thousand in 2021, indicating a significant increase of approximately 158.5%[154]. Assets and Liabilities - The company's total assets as of December 31, 2022, reached RMB 71,200,517, an 11.2% increase from RMB 64,052,447 in 2021[9]. - The total liabilities increased to RMB 63,773,198 thousand in 2022 from RMB 57,190,930 thousand in 2021, marking a rise of 11.4%[139]. - The net current liability was approximately RMB 25,932,076,000 as of December 31, 2022, indicating a need for careful liquidity management[96]. - The total current liabilities for 2022 were RMB 62,444,998 thousand, up from RMB 54,991,996 thousand in 2021, which is an increase of 13.5%[139]. - The company's total liabilities amounted to RMB 63,773,198 thousand, up by RMB 6,582,268 thousand from the end of 2021, with current liabilities increasing by RMB 7,498,772 thousand[49]. Shareholder Information - The total number of shareholders as of December 31, 2022, was 117,845, with 117,511 being domestic A-share shareholders and 334 being overseas H-share shareholders[16]. - The top ten shareholders held a total of 13,323,683,351 shares, accounting for 70.18% of the total shares, with China Petroleum & Chemical Corporation holding 10,727,896,364 shares (56.51%) and Hong Kong Central Clearing Limited holding 5,402,084,694 shares (28.46%)[18]. - The company’s minimum public float requirement has been met according to the Hong Kong Stock Exchange Listing Rules[16]. - The total equity attributable to shareholders at the end of 2022 was RMB 7,427,319 thousand, an increase from RMB 6,861,517 thousand in 2021, representing a growth of approximately 8.2%[154]. Operational Highlights - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[2]. - The total new contracts signed amounted to RMB 81 billion, a year-on-year increase of 14.2%, the highest level since the 13th Five-Year Plan[39]. - The company continues to provide various services including drilling, logging, and engineering construction[23]. - The drilling services segment achieved a revenue of RMB 36.81 billion in 2022, an increase of 11.3% compared to RMB 33.08 billion in the previous year, with a total drilling footage of 9.98 million meters, up 9.1% year-on-year[41]. - The engineering construction services segment achieved revenue of RMB 17.44 billion, a 4.3% increase from RMB 16.71 billion, with new contracts signed totaling RMB 25.30 billion, up 42.1% year-on-year[44]. Research and Development - Research and development expenses for 2022 were RMB 1,838,968,000, an increase from RMB 1,669,706,000 in 2021, indicating a commitment to innovation[90]. - The company applied for 979 patents and was granted 787 patents in 2022, both setting new historical highs, with significant breakthroughs in key technologies[46]. - The company will enhance its research and development of key equipment for geophysical services in 2023[60]. Cash Flow and Financing - The company reported a net cash flow from operating activities of RMB 4,197,869, a decrease of 32.4% compared to RMB 6,206,909 in 2021[9]. - The net cash flow from investing activities was RMB -3,951,162 thousand, worsening from RMB -3,253,443 thousand in 2021[146]. - The company has secured a credit facility of RMB 22 billion and USD 510 million from subsidiaries of China Petroleum & Chemical Corporation, enhancing its financial support[97]. - The company plans to broaden financing channels and develop relationships with listed and state-owned financial institutions for better credit access[98]. Related Party Transactions - The company engaged in related party transactions with China Petroleum Group, with procurement of raw materials and equipment amounting to RMB 12,181,320 thousand, accounting for 32.3% of similar transactions[73]. - The company’s independent non-executive directors reviewed the related party transactions and confirmed they were conducted at market prices and in compliance with regulations[75]. - The company’s independent auditor issued an unqualified opinion regarding the disclosed related party transactions during the reporting period[75]. Governance and Compliance - The company maintained compliance with the Corporate Governance Code and Standard Code throughout the reporting period[156]. - The company has not experienced any changes in its controlling shareholder during the reporting period[23]. - The company did not declare any dividends for the year ended December 31, 2022, consistent with 2021[131].