基础化工 | 证券研究报告 — 行业周报 2025 年 2 月 17 日 强于大市 化工行业周报 20250216 国际油价小幅上涨，氯化钾、 DMF 价格上涨 2 月份建议关注：1、下游行业快速发展，建议关注部分电子材料、新能源材料公司；2、高质量 发展与高股东回报并重，建议关注大型能源央企及相关油服公司在新时代背景下的改革改善与 经营业绩提升；3、景气度较高的制冷剂、维生素行业龙头公司；4、宏观经济整体预期改善， 建议关注估值较低的行业龙头价值公司、轻烃裂解子行业龙头公司等。 投资建议 风险提示 地缘政治因素变化引起油价大幅波动；全球经济形势出现变化。 相关研究报告 《化工行业周报 20250209》20250209 《化工行业周报 20250126》20250126 《化工行业周报 20250119》20250120 中银国际证券股份有限公司 具备证券投资咨询业务资格 基础化工 证券分析师：余嫄嫄 (8621)20328550 yuanyuan.yu@bocichina.com 证券投资咨询业务证书编号：S1300517050002 联系人：赵泰 tai.zhao@bocichina.com 一般证券业 ...

Investment Rating - The report maintains a "Buy" rating for CNOOC Services with a target price of HKD 9.17 [3]. Core Views - The company's Q3 performance was slightly pressured due to the suspension of orders from the Middle East and typhoon impacts, but the overall growth trajectory remains positive supported by strong industry demand [2]. - Revenue for the first three quarters of 2024 reached CNY 33.661 billion, a year-on-year increase of 14.1%, while net profit attributable to shareholders was CNY 2.445 billion, up 7.5% year-on-year [3]. - The drilling platform utilization rate has declined, but the ship and geophysical exploration segments have seen year-on-year growth in operational volume [3]. - The company has secured contracts for two of the four suspended drilling platforms, with operations expected to resume in Q3 and Q4 [3]. Summary by Sections Financial Performance - In Q3 2024, the company achieved revenue of CNY 11.133 billion, a year-on-year increase of 4.7% but a quarter-on-quarter decrease of 10.1%. Net profit for Q3 was CNY 0.852 billion, down 8.8% year-on-year and 10.9% quarter-on-quarter [3]. - The drilling segment operated for 13,166 days in the first three quarters, a slight decrease of 0.5% year-on-year, with self-elevating platforms increasing by 2.0% to 10,595 days [3]. Market Outlook - The global oilfield services market is projected to grow by 7.1% in 2024, with strong investment growth in offshore oil and gas development expected to continue [3]. - The company anticipates improved utilization rates for drilling platforms as the impact of typhoons diminishes and new contracts are secured [3].

2024 Interim Report 中期報告 中海油田服務股份有限公司 • 二零二四年中期報告 73 董事長致辭 尊敬的各位股東： 2024年上半年，世界經濟持續恢復，全球油氣行業在深刻變化中保持穩中向好的基本態勢。面對複雜激烈的市場 競爭環境，公司堅持以深化改革為動力，紮實推進「技術驅動、成本領先、一體化、國際化、區域發展」五大發 展戰略不斷取得新成效，呈現出了客戶多元化、市場高端化、技術無形化、裝備智能化、治理現代化、能力系 統化的良好發展態勢。 2024 | 目錄 | | --- | | 74 | 董事長致辭 | 102 | 中期簡明合併綜合收益表 | | --- | --- | --- | --- | | 76 | 總裁致辭 | 103 | 中期簡明合併財務狀況表 | | 78 | 管理層討論與分析 | 105 | 中期簡明合併權益變動表 | | 94 | 補充資料 | 106 | 中期簡明合併現金流量表 | | 100 | 獨立審閱報告 | 107 | 中期簡明合併財務資料附註 | | 101 | 中期簡明合併損益表 | 144 | 公司指引 | 公司概覽 中海油田服務股份有限公司（以下簡稱「公 ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 22,496.7 million, an increase from RMB 18,849.9 million in the same period of 2023, representing a growth of approximately 19.4%[5]. - Operating profit for the same period was RMB 2,692.0 million, compared to RMB 1,971.3 million in 2023, reflecting a year-on-year increase of about 36.5%[5]. - Profit for the period reached RMB 1,709.6 million, up from RMB 1,456.1 million in 2023, marking an increase of approximately 17.4%[8]. - Basic earnings per share for the period were RMB 0.33, compared to RMB 0.28 in the previous year, indicating a growth of around 17.4%[8]. - The company reported a pre-tax profit of RMB 2,409.0 million, compared to RMB 1,862.5 million in 2023, representing an increase of about 29.3%[8]. - Total revenue for the six months ended June 30, 2024, reached RMB 22,528,544 thousand, a 19.4% increase from RMB 18,873,594 thousand in the same period of 2023[5]. - The group reported a pre-tax profit of RMB 2,409,043 thousand for the six months ended June 30, 2024, compared to RMB 1,862,502 thousand for the same period in 2023, reflecting an increase of approximately 29.3%[37][38]. - The total income tax expense for the six months ended June 30, 2024, was RMB 699,395,000, compared to RMB 406,413,000 for the same period in 2023, representing an increase of 72.0%[56]. - The basic earnings per share attributable to the company's owners for the six months ended June 30, 2024, was RMB 0.334, compared to RMB 0.281 for the same period in 2023, reflecting an increase of 18.8%[60]. Operating Expenses - Total operating expenses for the six months were RMB 20,018.8 million, an increase from RMB 16,986.4 million in 2023, which is a rise of approximately 17.9%[7]. - Employee compensation costs rose by RMB 553.0 million or 16.5% year-on-year, reaching RMB 3,899.5 million[104]. - Material, supplies, fuel, services, and other expenses increased by RMB 417.8 million, a growth of 9.4% year-on-year[105]. - Subcontracting expenses rose by RMB 1,232.4 million, representing a 25.9% increase, primarily due to increased operational volume and growth in flexible services and business outsourcing[106]. Assets and Liabilities - Cash and cash equivalents as of June 30, 2024, amounted to RMB 8,037.5 million, up from RMB 5,977.5 million at the end of 2023, reflecting a growth of approximately 34.5%[12]. - Total current assets increased to RMB 31,037.2 million from RMB 30,270.1 million in 2023, showing a growth of about 2.5%[12]. - Total liabilities increased to RMB 26,760.9 million from RMB 23,364.6 million in 2023, indicating a rise of approximately 14.5%[13]. - The company’s total assets less current liabilities stood at RMB 57,004.0 million, down from RMB 59,881.2 million in 2023, reflecting a decrease of about 4.7%[13]. - The group’s total liabilities were RMB 40,744,216 thousand as of June 30, 2024, compared to RMB 40,989,728 thousand as of June 30, 2023, indicating a decrease of approximately 0.6%[37][38]. - The total liabilities from bank borrowings decreased to RMB 1,856,703 as of June 30, 2024, down from RMB 3,122,911 at the end of 2023, a reduction of 40.6%[74]. Revenue Breakdown - Revenue from external customers in the domestic market was RMB 16,943,622 thousand, while international revenue was RMB 5,553,041 thousand for the six months ended June 30, 2024[42]. - The contribution from a major customer, China National Offshore Oil Corporation and its subsidiaries, accounted for 77% of total sales for the six months ended June 30, 2024, down from 81% in the same period of 2023[43]. - The drilling services segment generated revenue of RMB 6,501,322 thousand, while the oilfield technical services segment contributed RMB 12,851,596 thousand for the six months ended June 30, 2024[37]. - The breakdown of revenue from contracts with customers shows that drilling services generated RMB 5,798,370 thousand, oilfield technology services contributed RMB 12,763,406 thousand, ship services brought in RMB 2,134,936 thousand, and engineering survey services accounted for RMB 1,104,136 thousand for the six months ended June 30, 2024[5]. Market Presence and Strategy - The company maintains a 100% ownership in its major subsidiaries, including COSL Drilling Pan-Pacific Ltd. and COSL Oil-Tech (Singapore) Ltd., which are crucial for its drilling and oilfield technology services[19][21]. - The company continues to focus on expanding its oilfield services, including drilling services and oilfield technology services, which are essential for its operational performance[17]. - The company has a significant presence in international markets, with subsidiaries in Indonesia, Mexico, and the Middle East, enhancing its global service capabilities[19][21]. - The company is committed to ongoing research and development in new technologies to improve service efficiency and expand its market reach[17]. - The company anticipates stable growth in global upstream exploration and development investments, driven by increasing demand in the oilfield services market[138]. - The company plans to enhance its R&D capabilities and promote the application of new technologies to capture more service opportunities in the improving industry landscape[138]. Governance and Compliance - The company has complied with the corporate governance code and has implemented higher standards for securities trading by its directors[144]. - The company has not engaged in any purchase, sale, or repurchase of its listed securities during the reporting period[145]. - The management is actively monitoring foreign exchange risks and will take targeted measures to mitigate various operational risks[142]. - The company believes that the current structure of having the same individual serve as both Chairman and CEO meets operational needs and allows for effective decision-making[141]. Cash Flow and Investments - The net cash inflow from operating activities for the first half of 2024 was RMB 1,714.2 million, up 48.6% from RMB 1,153.5 million in the same period last year[125]. - The net cash inflow from investing activities was RMB 3,389.7 million, a significant increase of 67.5% compared to RMB 2,025.7 million in the previous year[126]. - The net cash outflow from financing activities was RMB 3,021.8 million, which is an increase of 97.9% from RMB 1,534.8 million in the same period last year[127]. - Capital expenditures for the first half of 2024 totaled RMB 2,555.2 million, representing a 37.8% increase from RMB 1,854.5 million in the same period last year[130].

Financial Performance - The company's operating revenue for Q1 2024 reached RMB 10,148 million, representing a 20.0% increase compared to the same period last year[7]. - Net profit attributable to shareholders was RMB 635.5 million, a significant increase of 57.3% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 655.7 million, up 69.5% from the previous year[7]. - The basic and diluted earnings per share were both RMB 0.13, reflecting a 62.5% increase compared to the same period last year[10]. - The total profit for the same period was RMB 940.1 million, with a year-on-year growth of 47.8%[17]. - Net profit for Q1 2024 was RMB 690.6 million, reflecting a year-on-year increase of 51.3%[17]. - Total revenue for Q1 2024 reached ¥10,147,976,009, an increase of 19.9% compared to ¥8,456,256,979 in Q1 2023[29]. - Operating profit for Q1 2024 was ¥1,001,144,665, up 52% from ¥659,384,434 in Q1 2023[30]. - Net profit for Q1 2024 was ¥690,643,205, representing a 51.3% increase from ¥456,372,992 in Q1 2023[30]. - Basic earnings per share for Q1 2024 were ¥0.1332, compared to ¥0.0847 in Q1 2023[30]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 82,463.1 million, a decrease of 0.9% from the end of the previous year[8]. - Total assets as of March 31, 2024, were ¥82,463,076,897, a decrease from ¥83,245,834,646 as of December 31, 2023[26]. - Total liabilities decreased to ¥39,465,403,138 from ¥40,989,728,253 in the previous quarter[26]. - The company reported a decrease in total current liabilities to ¥22,016,202,576 from ¥23,364,629,211 in the previous quarter[26]. - The company maintained a stable long-term debt level with long-term borrowings at ¥2,803,379,925, slightly down from ¥2,806,392,004[26]. Cash Flow - The net cash flow from operating activities was a negative RMB 835.0 million, compared to a negative RMB 96.2 million in the same period last year[9]. - In Q1 2024, the cash inflow from operating activities was CNY 8,590,381,976, an increase of 10.7% compared to CNY 7,752,592,846 in Q1 2023[33]. - The net cash flow from operating activities was negative CNY 834,951,230, worsening from negative CNY 96,217,098 in the same period last year[33]. - Cash inflow from investment activities totaled CNY 3,230,193,901, significantly up from CNY 1,038,468,095 in Q1 2023[33]. - The net cash flow from investment activities was negative CNY 333,915,883, compared to negative CNY 15,050,075 in Q1 2023[33]. - Cash outflow from financing activities was CNY 922,579,343, increasing from CNY 288,821,134 in the previous year[33]. - The ending cash and cash equivalents balance was CNY 3,881,974,138, up from CNY 3,162,511,233 in Q1 2023[33]. - Cash and cash equivalents amounted to ¥4,444,148,454, down from ¥6,539,076,538 at the end of 2023[25]. Shareholder Information - The company reported a total of 43,435 common shareholders at the end of the reporting period[12]. - The largest shareholder, China National Offshore Oil Corporation, holds 50.53% of the shares[12]. Operational Metrics - The number of drilling service operation days was 4,388, a decrease of 1.7% compared to the previous year[18]. - The utilization rate for self-elevating drilling platforms was 84.3%, down 3.9 percentage points year-on-year[18]. - The company operated 172 vessels in its marine services segment, with a total of 14,227 operation days, an increase of 3.9% year-on-year[21]. - The three-dimensional seismic acquisition increased to 6,696 square kilometers, a significant rise of 502.7% year-on-year[20]. Innovation and Sustainability - The company is actively enhancing its core competitiveness and expanding its global market presence, contributing to the increase in revenue and profit[9]. - The company is focusing on enhancing its technological innovation capabilities and has seen growth in its oilfield technology services[21]. - The overall revenue scale for oilfield technology services continues to show an upward trend[21]. - The company expects its LNG-powered guard vessels to reduce carbon emissions by 12,000 tons annually[21]. Research and Development - Research and development expenses increased to ¥334,360,621 in Q1 2024, compared to ¥235,932,638 in Q1 2023, reflecting a focus on innovation[29]. Accounting Standards - The company did not apply new accounting standards for the first quarter of 2024[34].

Financial Performance - Total revenue for 2023 was RMB 44,042.2 million, representing a 23.7% increase from RMB 35,610.1 million in 2022[7] - Operating profit for 2023 reached RMB 4,855.2 million, a significant increase of 78.3% compared to RMB 2,723.4 million in 2022[9] - Annual profit for 2023 was RMB 3,282.6 million, reflecting a 31.3% growth from RMB 2,499.2 million in the previous year[9] - Basic earnings per share for 2023 were RMB 63.15, up 27.8% from RMB 49.43 in 2022[9] - The net profit for 2023 was RMB 3,282.6 million, up RMB 783.4 million, reflecting a year-on-year increase of 31.3%[26] - The total operating revenue of RMB 44,042.2 million in 2023, an increase of RMB 8,432.1 million, representing a growth of 23.7% year-on-year[26] - The drilling services segment generated revenue of RMB 12,051.2 million in 2023, a 16.6% increase from RMB 10,334.1 million in 2022[28] - The oilfield technical services segment reported revenue of RMB 25,717.5 million in 2023, a significant increase of 31.4% from RMB 19,571.2 million in 2022[35] - The international market contributed RMB 9,470.3 million to total revenue, representing a 50.9% increase from RMB 6,274.5 million in the previous year, accounting for 21.5% of total revenue[54] Asset and Liability Management - Total assets as of the end of 2023 amounted to RMB 83,245.8 million, a 7.9% increase from RMB 77,160.7 million in 2022[10] - The total liabilities increased by 10.2% to RMB 40,989.7 million from RMB 37,184.8 million in 2022[72] - The company reported a significant increase in contract liabilities (current liabilities) to RMB 1,207.4 million, up 58.9% from the previous year, driven by increased mobilization revenue and advance payments for equipment sales[76] - The company’s long-term debt (current liabilities) decreased by 83.9% to RMB 140.7 million, primarily due to bond repayments[75] Operational Efficiency - The company implemented a structural and systematic cost reduction mechanism, enhancing its cost control capabilities and operational efficiency across the entire service lifecycle[23] - The total operating expenses for the group were RMB 39,496.7 million in 2023, an increase of RMB 6,267.8 million or 18.9% year-on-year[58] - Subcontracting expenses rose significantly by RMB 3,256.2 million or 39.9%, reflecting increased operational and personnel outsourcing costs[60] - The drilling services segment saw a significant turnaround with an operating profit of RMB 739.7 million, up 216.4% from a loss of RMB 635.5 million in 2022[64] Market Expansion and Strategy - The company is actively expanding its international business across regions including Asia-Pacific, Middle East, Americas, Europe, and Africa, with significant growth in new markets and clients[6] - The strategic goal is to become a world-class energy service company with a focus on technology-driven, cost-effective, integrated, and international development[2] - The company established a "1+2+N" market layout, enhancing its international and regional development strategies, with a focus on high-end technology and integrated services in various regions including the Middle East and Southeast Asia[20][21] - The company aims to enhance its core functions and competitiveness in 2024, focusing on building a modern industrial system that is autonomous, secure, and competitive[24] Technological Innovation - The company continues to prioritize technological innovation, with a focus on transforming key variables into substantial growth for high-quality development[14] - By the end of 2023, the company had obtained over 1,300 authorized patents and received more than 20 national and provincial-level scientific and technological awards, with several core technologies achieving world-class standards[22] - The company successfully completed over 1,700 well operations using its independently developed "Xuanji" high-end drilling technology, achieving a success rate of 95.11%[36] - The company’s self-developed multi-functional ultrasonic imaging logging instrument (MUIL) has achieved large-scale sales, enhancing global recognition and expanding market share[37] Environmental and Social Responsibility - The company is committed to green and low-carbon transformation, with the world's largest LNG-powered fleet fully operational and a clear path for "green equipment + green technology + green products + green operations"[15] - The company’s LNG-powered vessels are expected to reduce carbon dioxide emissions by over 10,000 tons annually, contributing to its green transformation strategy[38] - The carbon emissions per unit of output decreased to 0.4132 tons per ¥10,000 in 2023, down from 0.4471 tons in 2022[148] - Environmental investment increased to ¥9,780.49 million in 2023, compared to ¥5,185.00 million in 2022[150] Corporate Governance - The company has been recognized as a leading enterprise in corporate governance, enhancing its operational efficiency and risk management capabilities[16] - The company has adhered to the corporate governance principles and rules as per the Hong Kong Stock Exchange Listing Rules and has made improvements in governance practices during 2023[85] - The board has focused on enhancing risk assessment for investment projects and has implemented measures to strengthen overseas project management and risk identification[86] - The company has established a governance mechanism that enhances decision-making efficiency and ensures compliance with shareholder resolutions[165] Employee Engagement and Development - The total number of employees trained increased to 2,824,384 hours in 2023, up from 1,953,215 hours in 2022[146] - The employee turnover rate for Chinese nationals was 0.8% in 2023, down from 1.1% in 2022[147] - The company has implemented training programs for directors and senior management to enhance their professional development[106] - The company has established a dual-week warning case mechanism and a regular risk assessment mechanism to enhance its integrity culture[162] Risk Management - The company has established a comprehensive risk management framework, including a risk management committee and a set of guidelines for major operational risk events[177] - The company has implemented a three-line defense mechanism for risk management, integrating it into daily operations to ensure effective risk control[180] - The risk management office conducts quarterly risk assessment meetings to monitor information security risks and ESG-related risks[98] - The company has established a risk pre-warning monitoring mechanism, conducting annual and quarterly risk assessment meetings to report to the board[179]

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 44,042.2 million, representing an increase from RMB 35,610.1 million in 2022, a growth of approximately 23.5%[6] - Operating profit for the same period was RMB 4,855.2 million, up from RMB 2,723.4 million in 2022, reflecting a growth of about 78.3%[6] - Annual profit reached RMB 3,282.6 million, compared to RMB 2,499.2 million in the previous year, marking an increase of approximately 31.4%[6] - Basic earnings per share increased to RMB 0.6315 from RMB 0.4943, representing a growth of about 27.8%[6] - The company reported a pre-tax profit of RMB 4,242,868 thousand for 2023, up from RMB 2,981,479 thousand in 2022, reflecting an increase of approximately 43%[39] - The annual profit for 2023 was RMB (1,197) thousand, a decrease from RMB 6,085 thousand in 2022, indicating a significant decline in profitability[21] - The company reported a decrease in earnings attributable to the parent company, which fell to RMB (1,196) thousand in 2023 from RMB 6,072 thousand in 2022[21] - The company’s total operating expenses for 2023 were RMB 39,496.7 million, compared to RMB 33,228.9 million in 2022, an increase of about 18.8%[6] - Total revenue for the year ended December 31, 2023, reached RMB 42,754.39 million, an increase from RMB 34,902.72 million in 2022, representing a growth of approximately 22.4%[40] - The company reported a total income tax expense of RMB 960,240,000 for 2023, significantly higher than RMB 482,275,000 in 2022, reflecting increased profitability[61] Assets and Liabilities - Total assets as of December 31, 2023, amounted to RMB 83,245.8 million, up from RMB 79,060.7 million in 2022, an increase of approximately 5.3%[6] - Total equity reached RMB 42,256.1 million, compared to RMB 39,975.9 million in 2022, reflecting a growth of about 5.7%[11] - Total liabilities increased by RMB 3,804.9 million or 10.2% to RMB 40,989.7 million compared to RMB 37,184.8 million at the end of 2022[190] - The total deferred tax liabilities amounted to RMB 1,063,136,000 as of December 31, 2023, compared to RMB 977,599,000 in 2022, showing an increase of approximately 8.7%[96] - The company’s total cost of property, plant, and equipment increased to RMB 119,871,747,000 as of December 31, 2023, from RMB 110,844,853,000 at the beginning of the year[72] Cash Flow and Investments - The company reported a net cash position of RMB 5,977.5 million, an increase from RMB 3,561.7 million in the previous year, indicating a growth of approximately 67.6%[9] - Cash and cash equivalents reached RMB 5,977,506,000 as of December 31, 2023, compared to RMB 3,561,740,000 in 2022, indicating a year-over-year increase of approximately 67.5%[89] - The net cash inflow from operating activities for 2023 was RMB 13,091.7 million, representing a year-on-year increase of 89.8%, mainly due to increased cash received from sales of goods and services[199] - The total investment cash outflow for 2023 was RMB 7,457.2 million, an increase of RMB 3,724.5 million compared to the previous year, primarily due to higher cash payments for property, plant, and equipment[200] Revenue Segmentation - The drilling services segment generated revenue of RMB 12,051.2 million in 2023, a 16.6% increase from RMB 10,334.1 million in 2022[120] - The oilfield technical services segment reported revenue of RMB 25,717.5 million, a 31.4% increase from RMB 19,571.2 million in 2022[130] - The company’s vessel service business generated revenue of RMB 3,938.8 million in 2023, an increase of 5.9% compared to RMB 3,719.9 million in 2022[134] - The company reported a revenue of RMB 2,334.7 million from its geophysical exploration and engineering survey services in 2023, representing a 17.6% increase from RMB 1,984.9 million in 2022[140] - The engineering survey segment achieved a revenue of RMB 698.0 million in 2023, up 23.7% from RMB 564.1 million in 2022[140] Market Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[6] - The company plans to continue expanding its market presence, particularly in international markets, to leverage growth opportunities[40] - Future guidance indicates a continued upward trend in revenue, driven by increased demand for drilling and oilfield services[40] - The company is exploring strategic acquisitions to bolster its service offerings and market reach in the energy sector[40] Employee and Operational Costs - Employee compensation costs rose to RMB 8,201,983,000 in 2023, up from RMB 7,414,041,000 in 2022, indicating a 10.6% increase[57] - The company’s financial expenses increased to RMB 996,796 thousand in 2023 from RMB 777,108 thousand in 2022, reflecting a rise of approximately 28%[34] - Subcontracting expenses increased by RMB 3,256.2 million, a growth of 39.9%, driven by higher operational volume and increased subcontracting efforts[168] Compliance and Regulatory Changes - The impact of the new accounting standards on the financial statements was minimal, with no significant effects on earnings per share or cash flows[21] - The company plans to apply the newly issued accounting standards when they become effective, ensuring compliance with updated regulations[22] - The group is currently assessing the impact of the revisions on existing loan agreements and whether any amendments are necessary[26]

中海油田服務股份有限公司 CHINA OILFIELD SERVICES LIMITED (於中華人民共和國註冊成立之股份有限公司) （股票代號：2883） 海外監管公告——第三季度業績 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條規定 而作出。 本公司2023年第三季度報告所載財務根據中國會計準則編制，並且未經審 計。 本公告分別以中文及英文編制，若中、英文版有任何差異，概以中文為准。 2023年10月26日 於本公告日期，本公司執行董事為趙順強先生（董事長）、盧濤先生及熊敏先生；本 公司非執行董事為范白濤先生及劉秋東先生；本公司獨立非執行董事為趙麗娟女士、 郭琳廣先生及姚昕先生。 2023 年第三季度报告 证券代码：601808 证券简称：中海油服 中海油田服务股份有限公司 2023 年第三季度报告 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。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法 ...

Financial Performance - In the first half of 2023, the company achieved operating revenue of RMB 18.85 billion, a 24.1% increase compared to RMB 15.20 billion in the same period of 2022[5]. - The net profit for the first half of 2023 was RMB 1.46 billion, reflecting a 31% increase from RMB 1.11 billion in the first half of 2022[5]. - The company reported earnings per share of RMB 0.28 for the first half of 2023, up from RMB 0.23 in the same period of 2022[5]. - The total revenue for the first half of 2023 was RMB 18,849.9 million, representing a 24.0% increase from RMB 15,195.6 million in the same period last year[30]. - Operating profit for the first half of 2023 reached RMB 1,971.3 million, up RMB 703.2 million or 55.5% from RMB 1,268.1 million in the previous year[45]. - The company's operating expenses for the first half of 2023 were RMB 16,986.4 million, an increase of RMB 2,857.8 million or 20.2% from RMB 14,128.6 million in the previous year[35]. - The company reported a significant increase in cash inflows from the disposal of floating-rate financial products and money market funds, totaling RMB 3,643,714 thousand[113]. - The total comprehensive income for the period was RMB 1,379,977 thousand, up 39.5% from RMB 988,593 thousand in the previous year[104]. Capital Expenditures - Global upstream exploration and development capital expenditure is projected to reach USD 565.2 billion in 2023, a 10.75% increase from 2022[14]. - The offshore oilfield capital expenditure is expected to be USD 163.8 billion in 2023, representing a 13.43% increase compared to 2022[14]. - Capital expenditures for the first half of 2023 amounted to RMB 1,854.5 million, a 46.9% increase from RMB 1,262.7 million in the same period last year[59]. - Capital expenditures for drilling services increased by 43.2% to RMB 884.0 million in the first half of 2023 compared to RMB 617.2 million in 2022[60]. - Oilfield technical services capital expenditures rose by 53.0% to RMB 699.4 million from RMB 457.2 million year-on-year[60]. - Total capital expenditures for the company reached RMB 1,854.5 million, a 46.9% increase from RMB 1,262.7 million in the same period last year[60]. Market and Business Strategy - The company has implemented a new business model focusing on "zero inventory" to reduce costs and enhance operational efficiency[8]. - The company aims to enhance its core technology capabilities and drive innovation to support sustainable development and risk management[12]. - The company plans to strengthen its international market expansion and integrated business development to increase market share and profitability[8]. - The company expects global upstream exploration and development investment to increase significantly in the second half of 2023, driven by recovering demand in the oilfield services market[68]. - The company aims to implement five major development strategies to improve service competitiveness and efficiency while monitoring global economic conditions and oil prices[69]. Operational Performance - The drilling services segment generated revenue of RMB 5,422.5 million, up from RMB 5,055.1 million, marking a 7.3% increase year-on-year[17]. - The oilfield technical services segment reported revenue of RMB 10,607.9 million, an increase of RMB 3,049.8 million, representing a growth of 40.4% year-on-year[22]. - The total operating days for drilling platforms reached 8,789 days, an increase of 772 days, or 9.6% year-on-year[18]. - The average daily revenue for semi-submersible drilling platforms was USD 12.3, an increase of 7.0% compared to USD 11.5 in the previous year[20]. - The utilization rate of available days for drilling platforms increased by 2.1 percentage points to 86.5% year-on-year[18]. - The company's ship service revenue for the first half of 2023 was RMB 1,904.7 million, an increase of RMB 179.8 million or 10.4% compared to RMB 1,724.9 million in the same period last year[26]. - The total operating days for ship services increased to 27,191 days, up 3.6% from 26,251 days in the previous year[26]. Financial Position - The company's total assets as of June 30, 2023, were RMB 79,597.5 million, reflecting a 3.2% increase from RMB 77,160.7 million at the end of 2022[52]. - Cash and cash equivalents increased to RMB 5,351.3 million, a 50.2% rise from RMB 3,561.7 million at the beginning of the year, driven by higher revenues and improved collections[54]. - The company's debt-to-equity ratio improved to 43% as of June 30, 2023, down from 44% at the end of 2022[89]. - As of June 30, 2023, the company's net current assets increased from RMB 6,817.8 million to RMB 9,499.5 million compared to December 31, 2022, with the current ratio rising from 1.32 to 1.43[87]. - The company's net assets as of June 30, 2023, amounted to RMB 40,604,999 thousand, compared to RMB 39,975,967 thousand at the end of 2022, reflecting a growth of 1.6%[108]. Shareholder and Management Information - Major shareholders include Brown Brothers with 129,666,280 shares (7.16%), Harriman & Co. with 129,666,280 shares (7.16%), and BlackRock, Inc. with 128,289,936 shares (7.08%) as of June 30, 2023[78]. - The board approved the appointment of Lu Tao as an executive director for a term of three years starting from August 17, 2023[82]. - The company has implemented a differentiated incentive mechanism to enhance motivation among frontline employees and improve overall corporate efficiency[81]. Risk Management - Foreign exchange risks are monitored, as fluctuations in exchange rates can impact net profit and cash flows[92]. - The company is currently assessing its exposure to risks related to the second pillar income tax under the OECD guidelines, which may impact future financial reporting[135].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2883） 截至2023年6月30日止六個月 中期業績公告 財務摘要 1、 收入為人民幣18,849.9百萬元 2、 經營利潤為人民幣1,971.3百萬元 3、 本期利潤為人民幣1,456.1百萬元 4、 每股基本盈利為人民幣0.28元 ...