Financial Performance - The company's operating revenue for Q1 2024 was RMB 18,533,340,000, representing a year-on-year increase of 3.3%[3] - Net profit attributable to shareholders for the same period was RMB 177,466,000, reflecting a significant increase of 22.1% compared to the previous year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 135,847,000, which is a decrease of 17.2% year-on-year[3] - Basic and diluted earnings per share were both RMB 0.009, marking an increase of 12.5%[4] - Operating profit for Q1 2024 was RMB 351,859, up 27.7% from RMB 275,291 in Q1 2023[18] - Net profit attributable to shareholders for Q1 2024 was RMB 177,466, representing a 22.3% increase from RMB 145,114 in Q1 2023[18] - Earnings per share for Q1 2024 were RMB 0.009, compared to RMB 0.008 in Q1 2023, reflecting a growth of 12.5%[18] Cash Flow and Assets - The net cash flow from operating activities showed a negative value of RMB -765,461,000, indicating a significant change from the previous year[4] - Cash flow from operating activities showed a net outflow of RMB 765,461 in Q1 2024, compared to a smaller outflow of RMB 521,584 in Q1 2023[21] - Cash and cash equivalents decreased to RMB 1.850 billion from RMB 2.816 billion at the end of 2023[14] - Cash and cash equivalents at the end of Q1 2024 totaled RMB 1,855,808, slightly up from RMB 1,837,084 at the end of Q1 2023[22] Shareholder Information - Shareholders' equity attributable to shareholders was RMB 8,389,683,000, which is an increase of 4.6% year-on-year[4] - The company reported a total of 113,316 shareholders at the end of the reporting period[7] - China Petroleum & Chemical Corporation holds 10,727,896,364 shares, accounting for 56.51% of the total shares[8] - The total equity attributable to shareholders increased to RMB 8.390 billion from RMB 8.023 billion at the end of 2023[16] Contracts and Revenue - The total new contracts signed in Q1 2024 amounted to RMB 34.05 billion, an increase of 8.4% year-on-year[12] - New contracts signed with China Petroleum & Chemical Corporation reached RMB 19.54 billion, up 7.9% year-on-year[12] - The company reported a decrease in overseas new contracts signed, totaling RMB 5.38 billion, down 0.9% year-on-year[13] - Total operating revenue for Q1 2024 reached RMB 18,533,340, an increase of 3.3% compared to RMB 17,941,753 in Q1 2023[17] - Total operating costs for Q1 2024 were RMB 18,328,882, an increase of 3.7% from RMB 17,681,249 in Q1 2023[17] Expenses - Research and development expenses surged to RMB 511,540 in Q1 2024, a significant increase of 142.5% from RMB 210,757 in Q1 2023[17] - The company reported a decrease in financial expenses to RMB 189,306 in Q1 2024 from RMB 251,433 in Q1 2023, a reduction of 24.7%[17] Liabilities - The total liabilities as of March 31, 2024, were RMB 66.247 billion, a slight decrease from RMB 67.140 billion at the end of 2023[15] - The company’s contract liabilities decreased to RMB 3.843 billion from RMB 5.361 billion at the end of 2023[15]

Financial Performance - The company's operating revenue for Q1 2024 was RMB 18,533,340, representing a year-on-year increase of 3.3%[4] - The net profit attributable to shareholders for Q1 2024 was RMB 177,466, showing a significant increase of 22.1% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 135,847, which reflects a decrease of 17.2% year-on-year[4] - The basic and diluted earnings per share for Q1 2024 were both RMB 0.009, marking a 12.5% increase from the previous year[4] - The weighted average return on equity increased by 0.3 percentage points to 2.2%[4] - In Q1 2024, the company achieved a total operating revenue of RMB 18.53 billion, representing a year-on-year increase of 3.3% compared to RMB 17.94 billion in Q1 2023[18] - The net profit attributable to shareholders for Q1 2024 was RMB 180 million, reflecting a significant year-on-year growth of 22.1% from RMB 147 million in Q1 2023[13] - Operating profit for Q1 2024 was 351,859 thousand RMB, up 27.7% from 275,291 thousand RMB in the same period last year[20] - The company reported a total operating cost of RMB 18.33 billion in Q1 2024, which is an increase from RMB 17.68 billion in Q1 2023[18] Assets and Liabilities - Total assets at the end of Q1 2024 were RMB 74,636,563, a decrease of 0.7% from the end of the previous year[5] - The equity attributable to shareholders increased by 4.6% to RMB 8,389,683 compared to the end of the previous year[5] - The total liabilities decreased to RMB 66.25 billion as of March 31, 2024, compared to RMB 67.14 billion at the end of 2023[17] - The company's total assets as of March 31, 2024, were RMB 74.64 billion, slightly down from RMB 75.16 billion at the end of 2023[14] Cash Flow and Investments - Cash flow from operating activities showed a net outflow of 765,461 thousand RMB, compared to a smaller outflow of 521,584 thousand RMB in Q1 2023[22] - The company's investment activities resulted in a net cash outflow of 246,483 thousand RMB, an improvement from the outflow of 276,188 thousand RMB in Q1 2023[23] - Financing activities generated a net cash inflow of 81,260 thousand RMB, a decrease from 829,240 thousand RMB in the same quarter last year[23] - Cash and cash equivalents decreased to RMB 1.85 billion from RMB 2.82 billion at the end of 2023[16] - Cash and cash equivalents at the end of Q1 2024 stood at 1,855,808 thousand RMB, slightly up from 1,837,084 thousand RMB at the end of Q1 2023[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 113,316[8] - China Petroleum & Chemical Corporation held 56.51% of the shares, making it the largest shareholder[9] Research and Development - Research and development expenses surged to 511,540 thousand RMB, significantly higher than 210,757 thousand RMB in Q1 2023, indicating a focus on innovation[20] Contracts and Market Activity - The company signed new contracts totaling RMB 34.05 billion in Q1 2024, which is an 8.4% increase year-on-year, with RMB 19.54 billion coming from Sinopec Group, up 7.9%[13] - The company has strengthened its engineering technical service capabilities and is actively developing the market, with a focus on collaboration with oil companies[13] Non-Recurring Gains and Losses - Non-recurring gains and losses totaled RMB 41,619 for the period, with significant contributions from asset disposal gains and government subsidies[6] - The company’s long-term equity investments remained stable at RMB 551 million, slightly down from RMB 553 million at the end of 2023[16]

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 - The net profit attributable to shareholders for 2023 was RMB 589,216 thousand according to Chinese accounting standards, and RMB 576,083 thousand according to International Financial Reporting Standards[5]. - 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[25]. - The 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[25]. - The total assets at the end of 2023 amounted to RMB 75,162,974 thousand, representing a 5.6% increase from RMB 71,208,061 thousand at the end of 2022[26]. - The basic earnings per share for 2023 was RMB 0.031, up 24.0% from RMB 0.025 in 2022[27]. - The company reported a total profit of RMB 928,340 thousand for 2023, which is a 27.3% increase from RMB 729,361 thousand in 2022[25]. - The company experienced a decrease in net profit after deducting non-recurring gains and losses, which was RMB 359,452 thousand, down 7.7% from RMB 389,447 thousand in 2022[25]. - The weighted average return on equity for 2023 was 7.63%, an increase of 0.93 percentage points from 6.70% in 2022[27]. - The company recorded non-recurring gains of RMB 229,764 thousand in 2023, compared to RMB 86,451 thousand in 2022[35]. - The company reported a gross profit margin of 6.8% for its main business, with a slight decrease of 0.5 percentage points compared to the previous year[76]. - The company’s gross profit margin improved to 30% from 28% in the previous year, reflecting better cost management and pricing strategies[79]. Cash Flow and Dividends - The company's retained earnings at the end of 2023 were negative RMB 1,900,922 thousand, leading to a recommendation of no cash dividend distribution for the year[5]. - The company plans to submit the profit distribution proposal to the shareholders' meeting for approval[5]. - The net cash flow from operating activities for 2023 was RMB 5,576,913 thousand, a significant increase of 32.9% compared to RMB 4,197,869 thousand in 2022[25]. - The net cash generated from operating activities was RMB 5,576,913 thousand, an increase of RMB 1,379,044 thousand compared to 2022[131]. - The net cash used in investing activities in 2023 was RMB 4,059,383 thousand, an increase of RMB 108,221 thousand year-on-year, primarily due to increased equipment purchases[132]. - The net cash used in financing activities was RMB 558,226 thousand in 2023, a decrease of RMB 493,023 thousand compared to the previous year[132]. - The cash and cash equivalents at the end of 2023 increased to RMB 2,788,798 thousand from RMB 1,801,150 thousand at the end of 2022[131]. - The company reported a net increase in cash and cash equivalents of RMB 959,304 thousand in 2023, compared to a decrease of RMB 804,542 thousand in 2022[131]. Assets and Liabilities - The total liabilities increased to RMB 67.14 billion, compared to RMB 63.78 billion in 2022, reflecting a rise of 5.4%[39]. - The company's total assets at the end of the reporting period were RMB 76,000,000 thousand, with cash and cash equivalents amounting to RMB 2,816,116 thousand, representing 3.7% of total assets[89]. - The company reported a significant increase in accounts receivable, totaling RMB 10,602,242 thousand, which accounted for 14.1% of total assets[89]. - The company’s investment activities resulted in a net cash outflow of RMB 4,059,383 thousand, primarily due to increased equipment purchases[88]. - Long-term equity investments rose significantly to RMB 553,496 thousand, a 1002.3% increase from RMB 50,215 thousand[90]. - Contract assets increased to RMB 16,203,248 thousand, up 3.8% from RMB 15,613,899 thousand[90]. - Total overseas assets reached RMB 24,490,023 thousand, accounting for 32.6% of total assets[93]. - The company's asset-liability ratio was 89.3% as of December 31, 2023, slightly down from 89.6% at the end of 2022[129]. Market and Contracts - The company signed new contracts worth RMB 82.4 billion in 2023, with 112 projects exceeding RMB 100 million each[42]. - The overseas market contributed RMB 16.7 billion in new contracts, with a 7.1% increase year-on-year, and RMB 16.09 billion in revenue, up 23.6%[42]. - The total new contract value signed for the year was RMB 82.4 billion, a growth of 1.7% year-on-year, marking the best performance since the 13th Five-Year Plan[52]. - The company signed contracts worth USD 3.3 billion for five exploration wells in Saudi Arabia, marking a significant entry into the Saudi Aramco exploration service market[60]. - The company expects the oil service market to improve, driven by high oil prices and increased exploration and development capital expenditures[105]. Research and Development - The company achieved 541 patent authorizations and completed 20 major technological innovations in 2023[42]. - Research and development efforts led to 1,004 patent applications, with 541 patents granted, showcasing the company's commitment to innovation[61]. - The company’s R&D expenditure for 2023 was RMB 2,083,796 thousand, a 13.3% increase from RMB 1,838,968 thousand in 2022, accounting for 2.6% of total revenue[84]. - The number of R&D personnel reached 3,367, making up 5.31% of the total workforce[85]. Governance and Management - The board of directors consists of 5 members, with 3 present at the meeting where the annual report was approved[4]. - The company held its annual general meeting on June 6, 2023, approving the 2022 audited financial report and profit distribution plan[153]. - The company appointed Zhang Jiankuo as the new General Manager starting December 2023, with previous roles including Deputy General Manager and Manager of the Yellow River Drilling Company[170]. - The company has seen a leadership transition with several key personnel changes, including the appointment of Zhang Congbang as Deputy General Manager in December 2023[171]. - The management team includes experienced professionals with advanced degrees and significant industry experience, enhancing the company's operational capabilities[170]. - The company is actively involved in market expansion and strategic initiatives, as evidenced by the diverse roles held by its executives across various subsidiaries[173]. - The company has maintained continuity in its governance structure, with several board members and executives having long tenures within the organization[173]. - The total remuneration for directors, supervisors, and senior management in 2023 amounted to RMB 10,405,499[176]. Strategic Initiatives - The company is committed to advancing green and low-carbon technologies, including the operation of a million-ton CCUS pipeline and the development of hydrogen projects[44]. - The company plans to enhance its project management system to improve resource allocation efficiency and support key projects[116]. - The company aims to improve drilling efficiency, targeting a utilization rate of over 85% for its teams[45]. - The company plans to enhance its competitive edge in high-end markets by increasing investment in equipment for overseas quality markets[64]. - The company aims to reduce management costs by RMB 650 million in 2024 through optimizing organizational structure and project management systems[116]. Risks and Compliance - The company does not have any non-operating fund occupation by controlling shareholders or related parties[6]. - There are no significant risks that need to be highlighted in the report[8]. - The company has not violated any decision-making procedures regarding external guarantees[7]. - The company is facing market competition risks due to geopolitical tensions and an oversupply in the oilfield service market[119]. - The company is focusing on the development of new energy technologies, including CCUS and hydrogen storage, to foster new economic growth[115].

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 - The company's 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[3] - Net profit attributable to shareholders for Q3 2023 was RMB 117,701 thousand, a significant increase of 48.8% from RMB 79,128 thousand year-on-year[3] - The 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 32,142 thousand in the same period last year[4] - Basic earnings per share for Q3 2023 was RMB 0.006, reflecting a 50.0% increase compared to RMB 0.004 in the same period last year[4] - The weighted average return on equity for Q3 2023 was 1.45%, an increase of 0.39 percentage points from 1.06% year-on-year[4] - Operating profit for Q3 2023 was RMB 674,534 thousand, up 51.8% from RMB 444,314 thousand in Q3 2022[17] - Net profit for Q3 2023 was RMB 443,605 thousand, representing a 55.5% increase from RMB 285,438 thousand in Q3 2022[17] - The increase in net profit and revenue was primarily driven by an increase in workload[7] Assets and Liabilities - Total assets at the end of Q3 2023 were RMB 74,532,190 thousand, representing a 4.7% increase from RMB 71,200,517 thousand at the end of the previous year[4] - The company's equity attributable to shareholders at the end of Q3 2023 was RMB 8,269,282 thousand, an increase of 11.3% from RMB 7,427,319 thousand at the end of the previous year[4] - The company's total assets reached RMB 74,532,190 thousand in Q3 2023, compared to RMB 71,208,061 thousand in Q3 2022[14] - Total liabilities as of Q3 2023 amounted to RMB 66,262,908 thousand, an increase from RMB 63,778,327 thousand in Q3 2022[14] - The company’s total liabilities increased to RMB 54,198,744 million as of September 30, 2023, from RMB 50,000,000 million at the end of 2022[13] - The company has a contract liability of RMB 4,335,271 million, down from RMB 5,115,819 million in the previous year[13] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was RMB 1,234,601 thousand, a significant recovery from a negative cash flow of RMB -973,896 thousand in the same period last year[4] - Cash flow from operating activities for the first three quarters of 2023 was RMB 1,234,601 thousand, a significant improvement from a negative cash flow of RMB -973,896 thousand in the same period of 2022[19] - The net cash increase for the period was RMB 212,784 thousand, contrasting with a decrease of RMB -756,747 thousand in the same period of 2022[20] - The company's cash and cash equivalents increased to RMB 2,013,934 million as of September 30, 2023, up from RMB 1,838,229 million at the end of 2022[13] Shareholder Information - The total number of common shareholders at the end of the reporting period is 107,063, with the top ten shareholders holding 98.66% of the shares[8] - China Petroleum & Chemical Corporation holds 10,727,896,364 shares, accounting for 56.51% of total shares[10] Contracts and Revenue - The company signed new contracts worth RMB 706.9 billion in the first three quarters of 2023, representing an 8.1% year-on-year increase[11] - The consolidated operating revenue for the first three quarters of 2023 is RMB 558.4 billion, a 9.6% increase compared to the previous year[11] - The net profit attributable to shareholders for the first three quarters of 2023 is RMB 4.4 billion, reflecting a 55.4% year-on-year growth[11] - Total operating revenue for the first three quarters of 2023 reached RMB 55,842,976 thousand, an increase of 9.3% compared to RMB 50,955,067 thousand in the same period of 2022[15] - The total operating cost for the first three quarters of 2023 was RMB 55,370,913 thousand, an increase of 9.1% from RMB 50,638,285 thousand in the same period of 2022[15] Research and Development - Research and development expenses for Q3 2023 totaled RMB 1,121,565 thousand, a rise of 4.2% from RMB 1,076,878 thousand in Q3 2022[17] Accounting and Reporting - The company has adopted new accounting standards starting in 2023, which may affect the financial statements[21] - The report is issued by the board of directors of Sinopec Petroleum Engineering Technology Services Co., Ltd.[21] - The financial report does not specify any performance summary, user data, future outlook, or guidance for performance[21] - There are no mentions of new products, technologies, market expansion, or mergers and acquisitions in the report[21] - The report confirms that the new accounting standards do not apply to the current financial year[21] - The document is dated October 27, 2023, indicating the timing of the financial disclosure[21] - The report includes key personnel such as General Manager Chen Xikun and Accounting Head Cheng Zhongyi[21] - The financial report does not provide specific numerical data or percentage changes related to performance metrics[21] - The company has not disclosed any strategic initiatives or new strategies in this report[21] - The report is concise and does not elaborate on any financial performance details[21]

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 - The company reported a significant increase in revenue, achieving a total of 10.5 billion RMB for the first half of 2023, representing a 15% year-over-year growth[1]. - The net profit for the first half of 2023 reached 1.2 billion RMB, which is a 20% increase compared to the same period last year[1]. - The company's operating revenue for the reporting period reached RMB 37,133,528 thousand, representing a 12.0% increase compared to the same period last year[12]. - The net profit attributable to shareholders was RMB 325,904 thousand, reflecting a significant increase of 58.0% year-over-year[12]. - The adjusted net profit attributable to shareholders, excluding non-recurring gains and losses, was RMB 285,044 thousand, marking a 90.0% increase compared to the previous year[12]. - The basic earnings per share for the reporting period was RMB 0.017, up 54.5% from RMB 0.011 in the previous year[13]. - The weighted average return on equity increased to 4.29%, up 1.33 percentage points from the previous year[14]. - In the first half of 2023, the company's consolidated operating revenue reached RMB 37,133,528 thousand, a 12% increase from RMB 33,148,652 thousand in the same period last year, marking the best performance since the 13th Five-Year Plan[22]. - The company reported a significant increase in inventory, rising by RMB 737,017 thousand due to new projects and unfinished labor tasks[38]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share by the end of 2024[1]. - The company aims to enhance its service capabilities across both conventional and unconventional oil and gas projects, aligning with its strategic vision of becoming a world-class technology-driven oil service company[19]. - The company is exploring potential mergers and acquisitions to enhance its service capabilities, with a focus on integrating advanced technologies[1]. - The company aims to strengthen its presence in target markets such as Saudi Arabia, Kuwait, Ecuador, Mexico, and Uganda, focusing on key project management and operational efficiency[54]. - 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[47]. Research and Development - New product development includes the launch of a carbon capture technology, expected to reduce emissions by 40% in the next five years[1]. - Research and development expenses increased by 18% in the first half of 2023, reflecting the company's commitment to innovation[1]. - The company applied for 431 patents in the first half of 2023, including 217 invention patents, reflecting its commitment to innovation and technology development[32]. - The company successfully completed the "Qilu Petrochemical - Shengli Oilfield Million-ton CCUS" project, marking a significant advancement in carbon capture and storage technology[29]. Financial Guidance and Projections - The company has set a performance guidance for the full year 2023, projecting a revenue target of 22 billion RMB, which would represent a 10% increase from 2022[1]. - The company plans capital expenditures of RMB 3.75 billion in the second half of 2023, focusing on enhancing exploration and development service capabilities[58]. - The company anticipates achieving a potential efficiency gain of RMB 540 million through cost management and resource optimization initiatives[57]. Cash Flow and Financial Position - The net cash flow from operating activities was RMB 421,612 thousand, a significant recovery from a negative cash flow of RMB -537,926 thousand in the same period last year[12]. - 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 year-on-year, primarily due to payments received for previously unsettled project funds[68]. - 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, mainly due to increased equipment purchase payments[68]. - The net cash inflow from financing activities in the first half of 2023 was RMB 1,100,090 thousand, an increase of RMB 794,247 thousand year-on-year, primarily due to an increase in loan scale[68]. Environmental and Compliance Efforts - The company has established a comprehensive environmental emergency management system and conducts regular training and drills for emergency response teams[79]. - The company has implemented a "green enterprise action plan" to enhance environmental management capabilities and promote energy-saving technologies[78]. - The company has maintained compliance with environmental protection laws and regulations, ensuring that emissions meet local standards[78]. - The company has actively promoted the use of clean energy sources such as electricity and natural gas in its operations[79]. Related Party Transactions - The company reported significant related party transactions, including procurement of raw materials and equipment from Sinopec Group amounting to RMB 4,904,459 thousand, which represents 31.6% of similar transaction amounts[90]. - The company provided engineering services to Sinopec Group totaling RMB 22,572,244 thousand, accounting for 61.5% of similar transaction amounts[90]. - The company emphasized that all related party transactions were conducted at market prices and adhered to fair and transparent principles, ensuring no adverse impact on profitability or independence[91]. Legal and Regulatory Matters - The company has no significant litigation or arbitration matters pending during the reporting period[84]. - The company confirmed that there were no legal investigations or penalties against its directors, supervisors, senior management, or controlling shareholders during the reporting period[88]. - The arbitration ruling on a contract dispute resulted in the company being ordered to pay approximately RMB 11.77 million and other costs, while it is also seeking repayment of RMB 322 million from the claimant[85]. Shareholder Information - The total number of ordinary shareholders was 113,975[103]. - The largest shareholder, China Petroleum & Chemical Corporation, holds 10,727,896,364 shares, representing 56.51% of total shares[104]. - The company has a diversified shareholder structure, with major shareholders including China Petroleum & Chemical Corporation and CITIC Group, ensuring stability and support[130]. Accounting and Financial Reporting - The company’s financial report is prepared in accordance with Chinese accounting standards, with amounts presented in thousands of RMB[114]. - The financial statements comply with the accounting standards issued by the Ministry of Finance, reflecting the financial position and operating results as of June 30, 2023[138]. - The company has not made any adjustments to its accounting policies during this period, ensuring consistency in financial reporting[125].