Financial Performance - The company's operating revenue for the first half of 2019 was approximately CNY 4.56 billion, representing a 27.51% increase compared to CNY 3.58 billion in the same period last year[18]. - The net profit attributable to shareholders for the first half of 2019 was a loss of approximately CNY 714.1 million, compared to a loss of CNY 182.4 million in the same period last year[18]. - The net cash flow from operating activities was approximately CNY 39.7 million, a significant improvement from a negative cash flow of CNY 1.63 billion in the same period last year[18]. - The basic earnings per share for the first half of 2019 was -CNY 0.16, compared to -CNY 0.04 in the same period last year[19]. - The company reported a revenue of RMB 45.59 billion, with a net profit attributable to shareholders of -RMB 7.14 billion, primarily due to significant losses from the Saudi 3648 offshore transportation and installation project[46]. - The total comprehensive loss for the first half of 2019 was -¥697,192,505.01, compared to -¥257,430,269.48 in the first half of 2018[157]. - The net profit for the first half of 2019 was a loss of CNY 525,913,506.49, compared to a profit of CNY 1,318,552,334.45 in the first half of 2018, representing a significant decline[161]. Assets and Liabilities - The company's total assets decreased by 3.04% to approximately CNY 29.23 billion from CNY 30.15 billion at the end of the previous year[18]. - The net assets attributable to shareholders decreased by 3.92% to approximately CNY 21.99 billion from CNY 22.89 billion at the end of the previous year[18]. - The total assets of the company reached RMB 292.33 billion, with a net asset value of RMB 219.95 billion and a debt-to-asset ratio of 25% as of June 30, 2019[46]. - The company's total liabilities increased to ¥9,314,667,076.93, compared to ¥9,219,329,336.86 at the end of 2018[156]. - Total equity decreased to ¥18,087,592,128.32 from ¥18,799,074,077.85 in the previous year[156]. Operational Highlights - The company has a workforce of approximately 7,800 employees and operates major manufacturing bases in Qingdao, Tianjin, and Zhuhai, enhancing its engineering capabilities[23]. - The company is recognized as the largest EPCI contractor for offshore oil and gas engineering in the Asia-Pacific region[23]. - The company is currently managing 32 simultaneous projects, focusing on enhancing project management and safety quality control to ensure key projects run as planned[46]. - The company completed 32 operational engineering projects in the first half of the year, including 25 offshore oil and gas field development projects and 5 onshore modular construction projects, with significant progress ahead of schedule by 576 days[50]. Market Position and Strategy - The company has a unique market position as the only large-scale offshore oil and gas engineering contractor in China, with a strong presence in over 20 countries and regions[27][32]. - The company is focusing on the LNG industry, deepwater and underwater engineering, and FPSO industries as new core competitive areas, adapting to industry development trends[24]. - The company achieved significant breakthroughs in international orders, securing contracts worth approximately RMB 94.58 billion, a substantial increase from RMB 10.53 billion in the same period last year[45]. - The company is actively expanding its domestic LNG market, having secured a contract exceeding RMB 40 billion for a northern LNG project in July[45]. Challenges and Risks - The company faced risks in international market operations due to insufficient international talent and experience, which could impact project execution and compliance with local regulations[87]. - The company is taking measures to address the challenges posed by the Saudi 3648 project, including deploying experienced project management teams and streamlining procurement processes[47]. - The company is implementing strategies to mitigate risks from natural disasters and adverse weather conditions, focusing on safety management and emergency response[89]. - The company is also addressing foreign exchange risk due to increased overseas operations, utilizing financial instruments for hedging[90]. Environmental and Social Responsibility - The total wastewater discharge from the Qingdao subsidiary is 28,800 tons, with COD discharge concentration at 69.4 mg/L, resulting in a total COD discharge of 2 tons[116]. - The company has implemented zero discharge for oily wastewater from its vessels, complying with relevant regulations[124]. - The company invested 440,000 man-hours in design work and completed 86,300 structural tons of steel processing in construction[55]. - The company has established a charitable fund to support education, with plans for future donations to local schools[110]. Corporate Governance - The company did not distribute any dividends or bonus shares for the first half of 2019, with a distribution of 0 shares and 0 yuan per 10 shares[93]. - The company reappointed Shinewing Certified Public Accountants as its financial and internal control auditing firm for the fiscal year 2019[95]. - The company maintained a good integrity record, with no reports of dishonesty from regulatory authorities[96]. - The company has committed to not engaging in any competitive activities with its parent company, China National Offshore Oil Corporation, during its existence[94].

海油工程 2018 年第三季度报告 公司代码：600583 公司简称：海油工程 海洋石油工程股份有限公司 2018 年第三季度报告 1 / 24 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司基本情况 3 | | 三、 | 重要事项 6 | | 四、 | 附录 12 | 海油工程 2018 年第三季度报告 一、 重要提示 1.1 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、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 未出席董事情况 | 未出席董事姓名 | 未出席董事职务 | 未出席原因的说明 | 被委托人姓名 | | --- | --- | --- | --- | | 邱晓华 | 独立董事 | 因其他公务无法出席 | 郭涛 | | 孟军 | 董事 | 因其他公务无法出席 | 张武奎 | 1.3 公司负责人金晓剑、主管会计工作负责人陈永红及会计机构负责人（会计主管人员）王亚军 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 单位：元 ...

Financial Performance - The company's operating revenue for the first half of 2018 was ¥3,575,719,177.21, a decrease of 14.42% compared to ¥4,178,337,240.72 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥182,410,322.88, representing a decline of 191.27% from ¥199,850,430.99 in the previous year[19]. - The net cash flow from operating activities was -¥1,630,748,043.48, compared to -¥980,548,144.08 in the same period last year, indicating a worsening cash flow situation[19]. - Basic earnings per share for the first half of 2018 were -¥0.04, a decrease of 180.00% compared to ¥0.05 in the same period last year[20]. - The company reported a total comprehensive loss of CNY 257,430,269.48 for the first half of 2018, contrasting with a comprehensive income of CNY 154,548,526.63 in the same period last year[151]. - The company reported a significant increase in prepayments to CNY 398,720,015.67 from CNY 177,224,220.64, reflecting a growth of approximately 125%[141]. - The company achieved a market contract value of 9.964 billion CNY in the first half of 2018, an increase of 87.58% compared to 5.312 billion CNY in the same period last year[39]. Assets and Liabilities - The total assets at the end of the reporting period were ¥26,632,312,358.61, down 6.21% from ¥28,395,956,227.87 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 2.03% to ¥22,647,353,401.57 from ¥23,117,079,340.91 at the end of the previous year[19]. - Total liabilities decreased to CNY 4,998,586,089.80 from CNY 5,147,636,304.10, a reduction of 2.9%[147]. - The company's total equity at the end of the period was 4,421,354,800, with a significant increase in retained earnings to 18,244,490[173]. Operational Capabilities - The company has established a strong engineering capability in offshore oil and gas resource development, with a focus on EPCI services[24]. - The company operates large manufacturing bases in Tianjin and Qingdao, covering over 1.4 million square meters, and has a joint venture in Zhuhai with a manufacturing base of 207,000 square meters[24]. - The company possesses a diverse fleet of 22 offshore construction vessels, enhancing its operational capabilities in both deep and shallow waters[24]. - The company has significantly enhanced its international operations, successfully undertaking influential overseas projects such as the Yamal project in Russia and FPSO in Brazil, leading to a notable improvement in international operational capabilities[26]. - The company has developed a comprehensive set of engineering technologies, including the design, construction, and installation of 30,000-ton ultra-large jacket structures, and has achieved deepwater pipeline laying capabilities up to 1,500 meters[26]. International Expansion - The company is focusing on international market development in regions such as the Middle East, Southeast Asia, Africa, Brazil, and North America, with ongoing project tracking in countries like Thailand, Brunei, and Canada[50]. - The company has established long-term strategic partnerships with 13 oil and gas companies and is a qualified supplier for 11 major oil companies, including Shell and Saudi Aramco[50]. - The company is actively pursuing international expansion and has strengthened its risk management processes to mitigate business and legal risks[40]. Research and Development - Research and development expenses decreased by 63.06% to CNY 116.89 million, down from CNY 316.42 million in the same period last year[58]. - The company has over 1,300 design personnel and is actively developing deepwater design capabilities, focusing on key technologies for deepwater floating platforms and underwater systems[31]. - The company successfully developed key welding technologies for deepwater steel risers, breaking foreign technology monopolies and enhancing capabilities for deepwater oilfield development[54]. Environmental and Social Responsibility - The total wastewater discharge was 296,000 tons, with a COD discharge of 129.9 tons[114]. - The company has not experienced any environmental pollution incidents during the reporting period[117]. - The company has established a fund of 3.5 million RMB for charitable donations, with an annual donation of 10.5 million RMB planned for educational purposes[105]. - The company provided assistance of 25.9 million RMB to 45 underprivileged employees during the Spring Festival[104]. Related Party Transactions - The total amount of related party transactions reached CNY 2,966,858,208.08, accounting for 83.25% of similar transactions[93]. - The company provided engineering subcontracting services to related parties, with a total revenue of CNY 2,218,627,121.98, representing 62.05% of related party transactions[93]. - The company has established long-term service agreements with related parties to ensure fair pricing through open bidding[94]. Corporate Governance - The largest shareholder, China National Offshore Oil Corporation, holds 2,270,969,554 shares, representing 51.36% of the total shares[129]. - Key management personnel changes included the election of Jin Xiaojian as chairman and Wu Hanming as chairman of the supervisory board[136]. - The company has a good integrity record and has not been issued any untrustworthy records by regulatory authorities[89].