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].

中石化石油工程技术服务股份有限公司 独立黄事提名人声明 (一)《中华人民共和国公司法》关于董事任职资格的规定; (二)《中华人民共和国公务员法》关于公务员兼任职务的 规定(如适用); (三)中国证监会《上市公司独立董事管理办法》、上海证 券交易所自律监管规则以及公司章程有关独立董事任职资格和 条件的相关规定; (四)中共中央纪委、中共中央组织部《关于规范中管干部辞 去公职或者退(离)休后担任上市公司、基金管理公司独立董事、 独立监事的通知》的规定(如适用): (五)中共中央组织部《关于进一步规范党政领导干部在企业 兼职(任职)问题的意见》的相关规定(如适用); (六)中共中央纪委、教育部、监察部《关于加强高等学校反 腐倡廉建设的意见》的相关规定(如适用); 提名人中石化石油工程技术服务股份有限公司董事会,现提 名郑卫军先生、王鹏程先生和刘江宁女士为中石化石油工程技术 服务股份有限公司第十一届董事会独立董事候选入,并已充分了 解被提名人职业、学历、职称、详细的工作经历、全部兼职、有 无重大失信等不良记录等情况。被提名人已同意出任中石化石油 工程技术服务股份有限公司第十一届董事会独立董事候选人(参 见该独立董事候 ...

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].

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].