以9月15日收盘价计算，中石化油服目前市盈率（TTM）约22.03倍，市净率（TTM）约1.49倍，市销率（TTM）约0.17倍。 市净率(LF)历史分位(%) (100 90 87a87 80 80x24 71x65 74:39 70 68x85 6764 60 56.87 50 40 30 20 10 0 2019-12-37 1 1-12-37 : 2-12-37 J-12-37 制图数据来自恒生聚源数据库 公司经营范围包括施工总承包、专业承包、劳务分包；建设工程项目管理；为陆上和海洋石油和天然气的开采提供服务；工程和技术研究与试验发展；建筑 工程准备；销售机械设备、五金交电、计算机、软件及辅助设备；机械设备租赁；能源矿产地质勘查、固体矿产地质勘查：地质勘查技术服务；石油、天然 气和矿产能源项目的投资：组织具有制造经营项目的企业制造金属结构、金属工具、金属压力容器、通用仪器仪表、专用仪器仪表、化学试剂、化学助剂、 专项化学用品(包括油田化学品)和矿山、冶金、建筑专用设备；组织具有对外承包工程许可的企业承包境外石油工程、天然气工程、化工工程、桥梁工程、 公路工程、房屋建筑工程、水利水电工程、市政公用工程、 ...

( 股票代號 A 股：600871； H 股：1033) 2025 半年度報告 半年度報告 重要提示 一、本公司董事會、監事會及董事、監事、高級管理人員保證半年度報告內容的真實性、準確性、完整 性，不存在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 二、 2025年半年度報告已經本公司第十一屆董事會第九次會議審議通過。本公司共有6位董事親自出席了 本次董事會會議，董事長吳柏志先生因公請假，委託董事張建闊先生出席會議並行使權利。 三、本公司按照中國企業會計準則及按照國際財務報告會計準則編製的2025年半年度財務報告均未經審 計；但本公司按國際財務報告會計準則編製的2025年半年度財務報告已經香港立信德豪會計師事務所 有限公司審閱。 四、本公司董事長吳柏志先生、總經理張建闊先生、總會計師程中義先生、財務資產部經理張雪平女士聲 明：保證半年度報告中財務報告的真實、準確、完整。 五、根據《公司章程》，董事會決議不派發截至2025年12月31日止年度之半年度現金股利，亦不進行資本 公積金轉增股本。 六、本公司有關未來發展戰略和經營計劃的前瞻性陳述並不構成本公司對投資者的實質承諾，請投資者注 意投資風險。 ...

Core Viewpoint - Sinopec Oilfield Service Corporation (石化油服) has secured significant contracts, indicating strong growth in both domestic and international markets, with a focus on technological innovation and research investment [1][4][11]. Group 1: Contract Wins and Financial Performance - On September 12, 2025, Sinopec Oilfield Service announced that its subsidiary won a contract worth 858 million yuan for a natural gas pipeline project, which represents approximately 1.06% of the company's projected revenue for 2024 [1][4]. - In the first half of 2025, the company signed new contracts totaling 63.67 billion yuan, marking a 3.2% year-on-year increase, with overseas contracts contributing 19.62 billion yuan, a 71.8% increase compared to the previous year [2][7]. - The company has shown consistent revenue and profit growth since 2021, with net profit increasing from 180 million yuan in 2021 to 632 million yuan in 2024, and further rising to 492 million yuan in the first half of 2025 [3][13]. Group 2: Research and Development - Sinopec Oilfield Service has invested over 20 billion yuan annually in research and development for the past two years, with total R&D investment exceeding 92 billion yuan from 2020 to 2024 [2][11]. - The company has applied for 540 patents in the first half of 2025, including 341 invention patents, showcasing its commitment to technological advancement [12]. - The company has developed key technologies, such as the "Idrilling" system, which has improved drilling efficiency, reducing average drilling time by 12.7% and increasing drilling speed by 19.4% [12][13]. Group 3: Market Expansion - Sinopec Oilfield Service operates in over 20 provinces in China and provides services in 29 countries and regions internationally, highlighting its extensive market reach [2][11]. - The revenue from overseas markets is becoming increasingly significant, accounting for 25.04% of total revenue in the first half of 2025, up from 20.12% in 2023 [9][10].

Core Viewpoint - The oil and gas industry has achieved significant exploration breakthroughs, with domestic oil and gas reserves expected to increase, benefiting oil service companies as the country deepens its reserve and production strategies [4]. Group 1: Exploration and Production Breakthroughs - The Ministry of Natural Resources announced major breakthroughs in energy mineral exploration, discovering 10 large oil fields and 19 large gas fields during the "14th Five-Year Plan" period [4]. - New oil and gas reserves have significantly increased, supporting stable oil production of 200 million tons and natural gas production exceeding 240 billion cubic meters [4]. - From 2019 to 2024, China's crude oil production is expected to grow at a CAGR of 2.2%, while natural gas production is projected to grow at a CAGR of 7.3% [4]. Group 2: Capital Expenditure Trends - Global upstream capital expenditure is projected to decline slightly to around $600 billion in 2025, a year-on-year decrease of 4%, with deepwater investments expected to drop by 6% [5]. - As of July 2025, the average day rate for jack-up rigs is $109,700, a 5.9% increase year-on-year, while semi-submersible rigs average $279,600, up 11.5% year-on-year, both at their highest levels since 2022 [5]. Group 3: Oil Service Companies' Performance - In the first half of 2025, major oil service companies benefited from the ongoing domestic "reserve and production increase" strategy and the gradual release of overseas business performance [6]. - CNOOC's oil service subsidiary reported a 23.3% year-on-year increase in net profit, while other companies like CNOOC Engineering and CNOOC Development saw net profit increases of 13.1% and a 27% rise in gross profit, respectively [6]. - The gross profit margins for CNOOC's oil service companies improved year-on-year, indicating a continuous enhancement in operational quality [6]. Group 4: International Competitiveness - In the first half of 2025, the gross profit margins of international oil service giants Schlumberger, Halliburton, and Baker Hughes decreased compared to their 2024 annual levels, while CNOOC's subsidiaries showed improvements [8]. - The annualized ROE for CNOOC's oil service companies remained resilient, with slight increases compared to 2024, indicating a potential enhancement in international competitiveness [8].

Core Viewpoint - The company, Sinopec Oilfield Service Corporation, announced that its wholly-owned subsidiary has won a construction contract for the Ning Shao natural gas pipeline project, valued at 858 million yuan, which represents approximately 1.06% of the company's projected revenue for 2024 under Chinese accounting standards [1] Group 1 - The project involves the construction of a pipeline approximately 120 kilometers long [1] - The project is expected to positively impact the energy structure optimization in Zhejiang Province and stimulate economic development in the surrounding areas [1] - The project aims to accelerate the formation of a national natural gas network, showcasing the company's expertise in oil engineering construction and project management capabilities [1] Group 2 - The contract has not yet been formally signed, indicating that there is still uncertainty regarding the project [1]

证券简称：石化油服 证券代码：600871 编号：临2025-031 中石化石油工程技术服务股份有限公司 工程中标公告 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。 2 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 1 投资者注意投资风险。 特此公告。 中石化石油工程技术服务股份有限公司董事会 2025 年 9 月 12 日 近日，中石化石油工程技术服务股份有限公司("本公司")全 资子公司中石化石油工程建设有限公司中标国家石油天然气管网集 团有限公司（"国家管网集团"）甬绍干线天然气管道西段工程施 工总承包项目（"该项目"）,中标金额为人民币8.58亿元，约占本 公司中国会计准则下2024年营业收入的1.06%。 该项目管道施工长度约120公里，项目建设对浙江省调整优化能 源结构，拉动沿线地区经济发展，加快形成全国天然气"一张网" 具有积极推动作用，彰显本公司在石油工程建设领域的专业技术水 平和施工管理能力。 本公司已于2025年3月18日、2025年6月6日召开第十一届董事会 第七次会议及2024年年度股东会 ...

Core Viewpoint - The company, PetroChina Oilfield Services (stock code: 600871), announced that its wholly-owned subsidiary, Sinopec Petroleum Engineering Construction Co., Ltd., has won a bid for the construction general contracting project of the western section of the Yongshao natural gas pipeline, with a contract value of 858 million yuan, which accounts for approximately 1.06% of the company's projected revenue for 2024 under Chinese accounting standards [1] Summary by Category - **Company Announcement** - PetroChina Oilfield Services reported a successful bid for a significant construction project valued at 858 million yuan [1] - **Financial Impact** - The contract amount represents about 1.06% of the company's expected revenue for the year 2024 [1]

Group 1 - The company announced that its wholly-owned subsidiary, Sinopec Petroleum Engineering Construction Co., Ltd., has won a bid for the construction general contracting project of the western section of the Yongshao natural gas pipeline by the National Petroleum and Natural Gas Pipeline Group Co., Ltd. [1] - The bid amount is 858 million yuan, which accounts for approximately 1.06% of the company's projected revenue for 2024 under Chinese accounting standards [1]

该项目管道线路总长约120公里，项目建设对浙江省调整优化能源结构，拉动沿线地区经济发展，加快 形成全国天然气"一张网"具有积极推动作用，彰显公司在石油工程建设领域的专业技术水平和施工管理 能力。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。 格隆汇9月12日丨中石化油服(01033.HK)公布，近日，公司全资子公司中石化石油工程建设有限公司中 标国家石油天然气管网集团有限公司甬绍干线天然气管道西段工程施工总承包项目，中标金额为人民币 8.58亿元，约占公司中国会计准则下2024年营业收入的1.06%。 ...

该项目管道线路总长约120公里，项目建设对浙江省调整优化能源结构，拉动沿线地区经济发展，加快 形成全国天然气"一张网"具有积极推动作用，彰显公司在石油工程建设领域的专业技术水平和施工管理 能力。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。 中石化油服（600871）(01033)发布公告，近日，公司全资子公司中石化石油工程建设有限公司中标国 家石油天然气管网集团有限公司甬绍干线天然气管道西段工程施工总承包项目(该项目),中标金额为人民 币8.58亿元，约占公司中国会计准则下2024年营业收入的1.06%。 ...