Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The actual controller, China National Offshore Oil Corporation (CNOOC), plans to increase its stake in the company by investing between RMB 20 billion and RMB 40 billion over the next 12 months, starting from April 8, 2025, which is expected to boost investor confidence [1][2] - The company has demonstrated resilience in its performance, achieving a net profit of RMB 137.9 billion in 2024, a year-on-year increase of 11.4%, despite a 2.8% decline in average crude oil prices [2] - The company aims for stable production growth with a focus on high-quality development, targeting net production of 726.8 million barrels of oil equivalent in 2024, a 7.2% increase year-on-year [2] - The company maintains a high dividend policy, with a projected dividend of HKD 1.40 per share for 2024, reflecting a 12% increase and a payout ratio of 44.7% [3] Summary by Sections Investment Plan - CNOOC's plan to increase its stake is based on confidence in the company's long-term development and the recognition of the capital market's investment value [2] Financial Performance - In 2024, the company achieved a net profit of RMB 137.9 billion, up 11.4% year-on-year, while the average crude oil price fell by 2.8% [2] - The company’s net production reached a historical high of 726.8 million barrels of oil equivalent, marking a 7.2% increase from the previous year [2] - The main cost per barrel of oil equivalent was USD 28.52, a decrease of 1.1% year-on-year [2] Dividend Policy - The company plans to maintain a dividend payout ratio of no less than 45% from 2025 to 2027, which is an increase from the previous lower limit of 40% [3] - The high dividend yield and consistent payout policy enhance the company's investment attractiveness in a low-interest-rate environment [3] Profit Forecast and Valuation - The report forecasts net profits for 2025, 2026, and 2027 to be RMB 150.3 billion, RMB 156.2 billion, and RMB 161.4 billion, respectively, with corresponding EPS of RMB 3.16, RMB 3.29, and RMB 3.40 [3][4]

导读： 四方仪器研发的LRGA-6000激光拉曼光谱分析仪，助力中海油实现天然气全组分及热值精确测量，提升生产效益。 特别提示 微信公众号机制调整，请点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 随着人们对气候变化问题的日益关注，许多国家正在加速从传统化石能源向更加环保、低碳的能源形式转型。作为重要 清洁能源之一的天然气，因其相对较低的碳排放量和较高的能源利用效率，被视为连接传统高碳能源与未来清洁能源体 系之间的桥梁。在此趋势下，众多的石油和天然气生产运营企业都面临着产品质量、安全生产和环境保护等多重考验与 规范要求，企业需要不断提升自身产品品质，以适应日益严格的行业标准，来满足市场对于清洁能源日益增长的需求。 ◆组分和热值监测在天然气的优化开采和处理工艺中扮演重要角色 在当前行业背景下，天然气监测技术，特别是全组分监测技术的重要性变得尤为突出。通过精准监测天然气的组分和热 值，不仅能确保产品质量，降低生产成本，还能帮助企业在市场竞争中占据更有利的位置。具体来说，通过精确监测天 然气的各种成分及含量，可以有效预防潜在的安全隐患，帮助生产运营商优化生产工艺，提高资 ...

| 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 601857 | 中国石油 | -2.08 | 0.21 | -11812.69 | | 600938 | 中国海油 | -0.29 | 2.12 | -9602.79 | | 601233 | 桐昆股份 | -1.09 | 2.10 | -6130.13 | | 600256 | 广汇能源 | -0.18 | 1.23 | -4290.92 | | 002493 | 荣盛石化 | -0.13 | 0.36 | -2603.86 | | 600777 | ST新潮 | 0.76 | 1.93 | -1992.56 | | 002221 | 东华能源 | -5.15 | 4.26 | -1558.70 | | 603619 | 中曼石油 | -0.06 | 4.02 | -1311.91 | | 600028 | 中国石化 | -0.71 | 0.22 | -1001.18 | | 600759 | 洲际油气 | 0.47 | 4.33 | -961. ...

Investment Rating - The report maintains a "Buy" investment rating for China National Offshore Oil Corporation (CNOOC) [1] Core Views - CNOOC achieved record high oil and gas production and reserves in 2024, with a total production of 727 million barrels of oil equivalent, representing a year-on-year increase of 7.2% [5] - The company has demonstrated strong cost control, with the average oil production cost decreasing to $28.52 per barrel of oil equivalent, maintaining a competitive edge in profitability [5] - CNOOC's capital expenditure for 2024 reached RMB 132.7 billion, aimed at sustaining production growth and infrastructure development [6][7] - The company has shown resilience against external challenges, maintaining stable operations and proposing a dividend of HKD 0.66 per share for 2024 [8] - Profit forecasts for CNOOC indicate a net profit of RMB 150 billion in 2025, with a corresponding price-to-earnings ratio of 7.7 [9] Summary by Sections Market Performance - CNOOC's stock price is currently at RMB 24.34, with a market capitalization of RMB 115.69 billion [1] Financial Highlights - In 2024, CNOOC reported total revenue of RMB 420.51 billion, a year-on-year increase of 0.94%, and a net profit of RMB 137.94 billion, up 11.38% from the previous year [4] - The company achieved a sales volume of 563 million barrels of oil equivalent, reflecting a 9.4% increase in demand [5] Production and Cost Management - CNOOC's proven oil and gas reserves reached 7.27 billion barrels of oil equivalent, with a reserve replacement ratio of 167% [5] - The company maintained stable operating costs, with the oil production cost remaining flat at $7.61 per barrel of oil equivalent despite a 9.8% increase in overall operating expenses [5] Future Outlook - CNOOC aims to produce between 760 to 780 million barrels of oil equivalent in 2025, with continued capital expenditure to support this target [7] - The forecasted net profits for 2025-2027 are RMB 150 billion, RMB 159.7 billion, and RMB 173.1 billion, respectively, indicating a steady growth trajectory [9][11]

Investment Rating - The report maintains a "Buy" investment rating for China National Offshore Oil Corporation (CNOOC) [1] Core Views - CNOOC achieved record high oil and gas production and reserves in 2024, with a total production of 727 million barrels of oil equivalent, representing a year-on-year increase of 7.2% [5] - The company has demonstrated strong cost control, with the average oil equivalent cost decreasing to $28.52 per barrel, maintaining a competitive edge in profitability [5] - CNOOC's capital expenditure for 2024 reached RMB 132.7 billion, aimed at sustaining production growth and infrastructure investment [6][7] - The company has shown resilience against external challenges, maintaining stable operations and proposing a dividend of HKD 0.66 per share for 2024 [8] - Profit forecasts for 2025-2027 indicate a steady growth in net profit, with estimates of RMB 150 billion, RMB 159.7 billion, and RMB 173.1 billion respectively [9] Summary by Sections Market Performance - CNOOC's stock price is currently at RMB 24.34, with a market capitalization of RMB 115.69 billion [1] Financial Highlights - In 2024, CNOOC reported total revenue of RMB 420.51 billion, a year-on-year increase of 0.94%, and a net profit of RMB 137.94 billion, up 11.38% from the previous year [4] Production and Cost Management - The company achieved a total oil and gas production of 727 million barrels of oil equivalent, with a sales volume of 563 million barrels, reflecting a 9.4% increase in demand [5] - The average realized oil price was $76.75 per barrel, a decrease of approximately 1.6% year-on-year, while the average realized natural gas price was $7.72 per thousand cubic feet, down 3.3% [5] Capital Expenditure and Future Outlook - CNOOC plans to maintain a capital expenditure level similar to 2024 to support production growth, with a target production of 760 to 780 million barrels of oil equivalent for 2025 [7] Profitability and Shareholder Returns - The company aims to maintain a dividend payout ratio of no less than 45% from 2025 to 2027, enhancing shareholder returns [8]

智通财经4月9日早间新闻精选 1、国务院总理李强8日同欧盟委员会主席冯德莱恩通电话。李强指出，中国今年的宏观政策充分考虑了 各种不确定因素，也有充足的储备政策工具，完全能够对冲外部不利影响，对保持自身经济持续健康发 展充满信心。中国将继续坚定不移扩大开放，同包括欧盟在内的世界各国加强合作，分享发展机遇。 3、国务院国资委8日表示，将全力支持推动中央企业及其控股上市公司主动作为，不断加大增持回购力 度。 4、全国社会保障基金理事会8日表示，近日已主动增持国内股票，近期将继续增持。 5、中国诚通公告，继4月7日增持股票资产后，4月8日，中国诚通旗下诚通金控和诚旸投资继续大额增 持ETF和中央企业上市公司股票。中国诚通拟使用股票回购增持再贷款资金1000亿元，用于增持上市公 司股票。 6、瑞银估计，在2025年期间，除了"国家队"之外，其他长期投资者可能在内地监管机构的指导下，以 可持续且稳定的方式进入A股市场。该行预计内地保险公司、互惠基金及社会保障基金进入中国股市的 净流入可能分别达到1万亿、5900亿及1200亿元人民币。 7、国家发展改革委主任郑栅洁昨日主持召开座谈会，邀请江苏天合光能、浙江中基宁波、广东领 ...

工业富联：第一季度净利润预计52亿元—53亿元，同比增长24%—27% 工业富联公告称，2025年第一季度预计营业收入1590亿元-1610亿元，同比增长34.0%-35.6%；预计归属 于上市公司股东的净利润为52亿元-53亿元，同比增长24.4%-26.8%。云计算业务方面，板块营业收入同 比增长超过50%，AI服务器、通用服务器营业收入同比皆超过50%。通讯及移动网络设备方面，公司积 极推进战略布局，有效实现对客户的稳健出货。公司将继续聚焦主营业务，推动AI+技术创新和经营提 质增效。 中国联通：为进一步回报股东，3月公司将此前回购的5.13亿股全部注销 中国联通公告称，公司将深入实施融合创新战略，推进"网络向新、技术向新、服务向新"，2025年将着 力实现创新动力更足、能力优势更强、业务结构更优、经营效益更好、品牌形象卓著。同时，公司坚持 战略引领与价值导向，持续推动提升上市公司投资价值，过去几年每股分红保持双位数增长。为进一步 回报股东，2025年3月公司将此前回购的5.13亿股全部注销。此外，公司将持续完善股东沟通渠道，积 极倾听中小股东声音，与投资者高频次交流。 海油工程：控股股东中国海油集团拟 ...

中国海油坚持绿色发展，积极培育新质生产力。在勘探方面坚持油气并举、向气倾斜，提前建成南海万 亿大气区。公司国内天然气总产量占比不断提升，产品供应结构持续优化。绿色低碳生产成效显著，我 国海上首个全方位绿色设计的乌石23—5油田群建成投产，渤海岸电三期工程全面投用。全年实施18项 节能改造项目，累计实现全年二氧化碳减排量达58.95万吨。新能源和负碳业务有序推进，"海油观澜 号"融合发展示范工程平稳运行，渤海和海南两个海上CCUS基地建设稳步开展。数智化发展坚实有 力，"深海一号"等一批智能油气田相继建成，海上平台无人化率稳步提升，并入选中国工业数据治 理"领跑者"企业名单。 中国海油坚持生态保护，坚决守护绿水青山。中国海油严格遵守中国及其他业务所在国法律法规，秉 持"在保护中开发，在开发中保护"的理念，不断提升环境治理能力，优化能源资源管理，始终将环境保 护贯穿于勘探开发生产全过程。坚持"生态优先，保护优先"方针，定期举办环保公益活动，提高社会公 众环保意识，切实有效保护生物多样性，实现生产运营与自然环境的和谐发展。2024年，公司开展30余 个生态补偿修复类项目。 中国海油坚持回馈社会，切实履行社会责任。追 ...

Financial Performance - Total revenue for 2023 was RMB 416,609 million, a slight decrease from RMB 422,230 million in 2022, representing a 1.5% decline[20]. - Net profit for 2023 was RMB 124,090 million, down from RMB 141,677 million in 2022, reflecting a decrease of 12.5%[20]. - The company expects total revenue for 2024 to be approximately RMB 420,506 million, indicating a projected growth of 0.9%[20]. - The total assets of the company are approximately RMB 1,056.3 billion[10]. - The total assets increased to RMB 1,005,598 million in 2023, up from RMB 929,031 million in 2022, marking an increase of 8.2%[21]. - The total liabilities for 2023 were RMB 337,722 million, a slight increase from RMB 330,648 million in 2022, reflecting a growth of 2.0%[21]. - The company achieved an annual operating revenue of RMB 420.5 billion and a net profit attributable to shareholders of RMB 137.9 billion, maintaining a high level of profitability[33]. Production and Reserves - As of December 31, 2024, the company holds net proven reserves of 7.27 billion barrels of oil equivalent, with an annual net production of 726.8 million barrels of oil equivalent[10]. - Total production in 2023 reached 1,801,692 BOE per day, an increase of 9.0% compared to 1,652,718 BOE per day in 2022[23]. - The company reported a total of 1,345,117 BOE per day in China for 2024, which is a forecasted increase of 5.3% from 1,277,725 BOE per day in 2023[23]. - Proven oil reserves in China increased from 1,952.6 million barrels in 2020 to 3,102.9 million barrels in 2024, representing a growth of 58.7%[25]. - The total net proven reserves (in million barrels of oil equivalent) increased from 5,001.2 in 2020 to 6,905.9 in 2024, marking a growth of 38.1%[25]. - The company achieved a record oil and gas production of 726.8 million barrels of oil equivalent in 2023, a year-on-year increase of 7.2%[31]. - The reserve replacement ratio reached 167% in 2023, indicating strong resource replenishment capabilities[30]. Dividends and Shareholder Returns - The company proposes a final dividend of HKD 0.66 per share (tax included) for the year 2024, totaling HKD 1.40 per share when combined with the interim dividend of HKD 0.74 per share[4]. - The company plans to maintain its dividend payout despite potential changes in the total number of issued shares[4]. - The company plans to maintain a dividend payout ratio of no less than 45% from 2025 to 2027, subject to shareholder approval[34]. Technological Advancements and Development - The company is committed to low-carbon development and technological advancements in its operations[21]. - Significant technological advancements were made, including the successful deployment of Asia's first deepwater jacket and the first mobile heating platform in offshore operations[38]. - The company emphasizes the integration of exploration and development to enhance resource conversion efficiency[45]. - The company is focusing on large and medium-sized oil and gas fields in 2025, with a strategic shift towards gas production[45]. Risk Management and Compliance - The company emphasizes the importance of risk management and internal control, stating that its systems are effective as of December 31, 2024[87]. - The company faces risks from fluctuating oil and gas prices, which can significantly affect its business, cash flow, and profitability[94]. - The company operates in sensitive environmental and politically unstable regions, which poses health, safety, security, and environmental (HSSE) risks[96]. - The company has implemented a risk management and internal control framework to manage risks associated with achieving business objectives[159]. - The company has integrated ESG risk management into its regular risk management processes, identifying at least six categories of ESG risks, including climate change and data privacy, for centralized management[160]. Corporate Governance - The board of directors emphasizes that the financial reports are prepared in accordance with both Chinese and international accounting standards, audited by Ernst & Young[3]. - The company has received multiple awards for its corporate governance and ESG performance, including the "Outstanding Enterprise Contribution Award" for the 75th anniversary of New China and the "Best ESG" award from Institutional Investor magazine[117]. - The company is committed to maximizing shareholder value and strictly adheres to corporate governance policies in compliance with the Hong Kong Stock Exchange listing rules[119]. - The company has established a professional investor relations department to enhance communication with shareholders and investors[184]. Exploration and Global Operations - The company is focused on expanding its operations in various regions, including Asia, Africa, North America, South America, Oceania, and Europe[10]. - The company successfully secured 10 oil contracts in Mozambique, Brazil, and Iraq, enhancing its position as a global industry leader[32]. - The company holds a 50% stake in BC ENERGY INVESTMENTS CORP. in Argentina, enhancing its presence in South America[71]. - The company signed oil contracts for five blocks in Mozambique in 2024, expanding its exploration portfolio in Africa[66]. Employee and Board Diversity - The company has a total of 3,706 female employees, representing 17% of the total workforce, with 16% of senior management positions held by women[126]. - The board has adopted a diversity policy aimed at enhancing corporate governance and ensuring diversity among board members, considering factors such as gender, age, cultural background, and professional experience[126]. - The company emphasizes equal opportunities in recruitment, training, and promotion, fostering a culture of respect and inclusion[126]. Environmental and Social Responsibility - The company completed green electricity replacement of 760 million kilowatt-hours, contributing to its green transformation initiatives[38]. - The company has invested RMB 133.12 million in social responsibility initiatives in 2024, including RMB 132.85 million in cash donations[84]. - CNOOC aims to integrate offshore wind power with oil and gas production, promoting green and low-carbon development initiatives[82].

证券代码：600938 证券简称：中国海油 公告编号：2025-011 中国海洋石油有限公司 关于实际控制人增持公司股份计划的公告 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法律责任。 重要内容提示： 中国海油集团拟自本公告日起12个月内通过上海证券交易所交易系统及香 港联合交易所有限公司系统增持公司A股及港股股份（含港股通），拟增持金额 累计不少于人民币20亿元（含本数），不超过人民币40亿元（含本数）。 中国海洋石油有限公司（简称"中国海油"或"公司"）于2025年4月8日接 到公司实际控制人中国海洋石油集团有限公司（简称"中国海油集团"）的通知， 基于对公司未来发展前景的信心和对资本市场长期投资价值的认可，中国海油集 团计划于本公告日起的12个月内增持公司A股和港股股份（简称"本次增持计 划"），现将有关情况公告如下： （含港股通）。 （三）增持金额：拟用于增持A股和港股股份的金额累计不少于人民币20亿 元（含本数），不超过人民币40亿元（含本数）。 （四）实施期限：综合考虑市场波动、资金安排、境内外监管要求等因素并 为保障本 ...