Core Viewpoint - China Petroleum Engineering Corporation's stock has experienced a decline, with a current price of 3.52 CNY per share and a market capitalization of 19.653 billion CNY, reflecting a challenging trading environment [1] Group 1: Stock Performance - The stock price of China Petroleum Engineering has decreased by 0.34% year-to-date, with a 6.38% drop over the last five trading days and a 6.88% decline over the last twenty days [1] - The trading volume on November 20 was 119 million CNY, with a turnover rate of 0.60% [1] Group 2: Financial Performance - For the period from January to September 2025, the company reported a revenue of 57.529 billion CNY, representing a year-on-year growth of 12.42%, while the net profit attributable to shareholders decreased by 17.22% to 523 million CNY [2] - Cumulative cash dividends since the A-share listing amount to 2.204 billion CNY, with 715 million CNY distributed over the past three years [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 13.62% to 68,500, while the average number of circulating shares per person increased by 15.77% to 81,518 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited and Southern CSI 500 ETF, with notable reductions in their holdings [2]

Core Insights - The oil service engineering sector experienced a decline of 1.87% on November 18, with PetroChina Oilfield Services leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - Zhongman Petroleum (603619) closed at 24.93, up 3.40% with a trading volume of 204,600 shares and a transaction value of 508 million yuan [1] - Potential Energy (300191) closed at 20.71, up 0.05% with a trading volume of 85,200 shares and a transaction value of 176 million yuan [1] - Other notable declines include PetroChina Oilfield Services (600871) down 4.26% and Tongyuan Petroleum (300164) down 3.73% [2] Capital Flow - The oil service engineering sector saw a net outflow of 136 million yuan from institutional investors, while retail investors had a net inflow of 184 million yuan [2] - Major stocks like Zhongman Petroleum and Renji Co. experienced mixed capital flows, with Zhongman Petroleum seeing a net inflow of 33.83 million yuan from institutional investors [3]

Summary of Key Points Core Viewpoint - China Petroleum Engineering Corporation (中油工程) has completed the payment of its first phase of ultra-short-term financing bonds for 2025, amounting to approximately 2.03 billion RMB, indicating the company's ongoing financial activities and obligations [1][2]. Trading Information - On November 17, 2025, the stock price of China Petroleum Engineering closed at 3.68 RMB, down by 1.34% with a turnover rate of 0.91% and a trading volume of 510,300 shares, resulting in a total transaction amount of 188 million RMB [1]. - The net outflow of main funds on the same day was 23.51 million RMB, accounting for 12.48% of the total transaction amount, while retail investors saw a net inflow of 24.42 million RMB, representing 12.96% of the total transaction amount [1][2]. Company Announcements - The company announced the completion of the payment for its first phase of ultra-short-term financing bonds issued on February 20, 2025, with a total issuance amount of 2 billion RMB and an interest rate of 1.96%, maturing in 270 days [1]. - The total amount paid on November 17, 2025, for the bond interest was 2,028,997,260.27 RMB, processed by the China Interbank Market Clearing House [1].

Core Viewpoint - China Petroleum Engineering Corporation (中油工程) has successfully completed the interest payment and redemption of its first short-term financing bond for 2025, amounting to approximately RMB 2.03 billion, on the due date of November 17, 2025 [1][2]. Group 1: Stock Performance - As of the market close on November 17, 2025, the stock price of China Petroleum Engineering was reported at RMB 3.68, reflecting a decline of 1.34% from the previous trading day [1]. - The stock opened at RMB 3.73, reached a high of RMB 3.73, and a low of RMB 3.67, with a trading volume of RMB 1.88 billion and a turnover rate of 0.91% [1]. Group 2: Financing Details - The company issued its first short-term financing bond for 2025 on February 20, 2025, with a total issuance amount of RMB 2 billion and an interest rate of 1.96% [1]. - The bond has a maturity period of 270 days, with the payment date coinciding with the redemption date on November 17, 2025 [1]. - The total amount paid for interest and redemption on the bond was RMB 2,028,997,260.27, processed through the interbank market clearing house [1].

Core Points - The company, China Petroleum Engineering Co., Ltd., announced the issuance of its first ultra-short-term financing bond for 2025, with a total amount of RMB 2 billion and an interest rate of 1.96% [1] - The bond has a maturity period of 270 days, with the payment date set for November 17, 2025 [1] - The company successfully completed the interest payment and redemption for this bond on November 17, 2025, totaling RMB 2,028,997,260.27, which was processed by the interbank market clearing house [1]

公司已于 2025 年 11 月 17 日完成了 2025 年度第一期超短期融资券的付息兑付工 作，本次付息兑付总额为人民币 2,028,997,260.27 元，由银行间市场清算所股份有 限公司代理划付至债券持有人。 本次超短期融资券兑付的相关文件已在中国货币网(http://www.chinamoney.com. cn)和上海清算所网站(http://www.shclearing.com)刊登。 特此公告。 中国石油集团工程股份有限公司董事会 证券代码：600339 证券简称：中油工程 公告编号：临 2025-062 中国石油集团工程股份有限公司 关于 2025 年度第一期超短期融资券兑付完成的公告 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个别及连带责任。 中国石油集团工程股份有限公司（以下简称"公司"）于 2025 年 2 月 20 日发行 了 2025 年度第一期超短期融资券（简称：25 中油工程 SCP001，代码：012580434）， 发行总额为人民币 20 亿元，发行利率为 1.96%，发行期限为 270 天，兑付 ...

Core Viewpoint - The company announced the issuance of a short-term financing bond with a total amount of 2 billion yuan and an interest rate of 1.96% for a term of 270 days [1] Group 1 - The company will issue the first phase of ultra-short-term financing bonds for the year 2025 on February 20, 2025, with a total issuance amount of 2 billion yuan [1] - The interest rate for the financing bond is set at 1.96% [1] - The maturity period for the bond is 270 days [1] Group 2 - On November 17, 2025, the company completed the interest payment and redemption work for the financing bond, with a total payment amount of 2.029 billion yuan [1] - The payment was facilitated by the China Interbank Market Clearing House Co., Ltd. to the bondholders [1] - Relevant payment documents have been published on the China Money Network and Shanghai Clearing House websites [1]

Core Viewpoint - The oil service engineering sector experienced a slight decline of 0.21% on November 17, with Keli Co., Ltd. leading the losses. The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1]. Group 1: Market Performance - The oil service engineering sector's performance was mixed, with individual stocks showing varied results. For instance, Huibo Yin increased by 2.88% to close at 3.93, while Keli Co., Ltd. fell by 2.41% to 34.07 [1][2]. - The trading volume for Huibo Yin was 724,400 shares, with a transaction value of 282 million yuan, while Keli Co., Ltd. had a trading volume of 21,000 shares and a transaction value of 71.71 million yuan [1][2]. Group 2: Capital Flow - The oil service engineering sector saw a net outflow of 65.79 million yuan from institutional investors, while retail investors contributed a net inflow of 4.12 million yuan [2]. - Among individual stocks, Tongyuan Petroleum had a net inflow of 17.68 million yuan from institutional investors, while Keli Co., Ltd. experienced a net outflow of 8.81 million yuan [3].

Investment Rating - The investment rating for the company is "Outperform the Market" [4][6][21]. Core Views - The company experienced a revenue growth of 12.42% year-on-year in the first three quarters of 2025, but its net profit attributable to shareholders decreased by 17.22% [1][9]. - The decline in net profit is attributed to underperformance in some overseas pipeline and storage projects, leading to a decrease in gross profit [1][9]. - The company has maintained a high level of new contract signings, with a total of 992.16 billion yuan in new contracts in the first three quarters of 2025, representing a year-on-year increase of 5.25% [3][17]. Summary by Sections Financial Performance - In the first three quarters of 2025, the company's revenue reached 575.29 billion yuan, with a net profit of 5.23 billion yuan [1][9]. - The third quarter alone saw revenue of 212.42 billion yuan, a 12.84% increase year-on-year, while net profit dropped to 0.53 billion yuan, down 49.19% [1][9]. Business Segments - The core business segments include oil and gas field surface engineering, oil and gas storage and transportation engineering, and refining and chemical engineering, which accounted for 36.59%, 25.69%, and 30.27% of revenue respectively in 2024 [2][12]. - Emerging businesses and future industries contributed 28.23% to new contract signings in the first three quarters of 2025 [3][17]. Contract Signings - The company signed new contracts worth 992.16 billion yuan in the first three quarters of 2025, with domestic contracts accounting for 74.54% and international contracts 25.46% [3][17]. - By professional field, the new contracts included 242.18 billion yuan for oil and gas field surface engineering, 247.50 billion yuan for pipeline and storage engineering, and 206.56 billion yuan for refining and chemical engineering [3][17]. Financial Forecast - The company is projected to achieve revenues of 899.92 billion yuan, 944.92 billion yuan, and 982.97 billion yuan for the years 2025, 2026, and 2027 respectively, with net profits of 7.33 billion yuan, 8.23 billion yuan, and 8.50 billion yuan [4][21]. - The earnings per share (EPS) are expected to be 0.13 yuan, 0.15 yuan, and 0.15 yuan for the same years, with corresponding price-to-earnings (PE) ratios of 28.64, 25.52, and 24.70 [4][21].

Market Overview - The oil service engineering sector experienced a decline of 0.41% on November 13, with Junyou Co. leading the drop [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Stock Performance - Notable stock performances included: - Renji Co. (002629) rose by 4.97% to a closing price of 9.08, with a trading volume of 256,300 shares and a turnover of 230 million yuan [1] - PetroChina Oilfield Services (600871) increased by 1.54% to 2.63, with a trading volume of 6,047,500 shares [1] - Junyou Co. (002207) fell by 2.66% to 8.77, with a trading volume of 629,100 shares and a turnover of 547 million yuan [2] Capital Flow - The oil service engineering sector saw a net outflow of 123 million yuan from institutional investors, while retail investors contributed a net inflow of 116 million yuan [2] - The capital flow for key stocks included: - PetroChina Oilfield Services had a net outflow of 46.59 million yuan from institutional investors [3] - Renji Co. experienced a net inflow of 18.87 million yuan from institutional investors [3] - Junyou Co. had a net inflow of 2.2 million yuan from retail investors despite a net outflow from institutional and speculative investors [3]