证券代码：600968 证券简称：海油发展 公告编号：2023-002 中海油能源发展股份有限公司 关于召开2022年度业绩说明会的公告 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： 问题征集方式：投资者可于 2023 年 4 月 12 日（周三）17:00 前将需要 了解的情况和有关问题预先通过电子邮件发送至中海油能源发展股份有限公司 （以下简称"公司"）投资者关系邮箱 sh_cenertech@cnooc.com.cn。公司将在信 息披露允许的范围内，于说明会上对投资者普遍关注的问题进行回答。 一、说明会类型 公司本次业绩说明会借助视频直播、网络文字互动的方式与投资者进行交 流。公司将针对 2022 年度经营成果及财务指标的具体情况与投资者展开互动交 流和沟通，并在信息披露允许的范围内就投资者普遍关心的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2023 年 4 月 17 日（周一）10:00-11:00 （二）会议召开地点：全景网（https://rs.p5w.net/） 四、投资者 ...

Financial Performance - Revenue for Q3 2022 reached ¥11,085,708,319.11, an increase of 11.64% year-over-year[4] - Net profit attributable to shareholders was ¥806,434,300.31, reflecting a 26.10% increase compared to the same period last year[4] - Net profit excluding non-recurring gains and losses was ¥727,415,317.55, up 21.88% year-over-year[4] - Total revenue for the first three quarters of 2022 reached ¥31,360,823,356.54, an increase of 23.5% compared to ¥25,499,968,066.98 in the same period of 2021[17] - Operating profit for Q3 2022 was ¥2,249,988,689.41, up from ¥1,726,714,414.57 in Q3 2021, reflecting a growth of 30.3%[18] - Net profit for the first three quarters of 2022 was ¥1,914,051,291.00, compared to ¥1,419,655,038.29 in the same period of 2021, representing a year-on-year increase of 34.7%[18] - The total comprehensive income for the third quarter of 2022 was CNY 2,115,866,057.59, an increase from CNY 1,402,721,420.46 in the same period of 2021, representing a growth of approximately 50.8%[19] Cash Flow and Investments - Cash flow from operating activities for the year-to-date period was ¥2,064,464,980.82, a significant increase of 64.19%[5] - Cash inflow from operating activities totaled CNY 36,420,451,251.27, up from CNY 28,638,027,777.26 in the same period last year, indicating a growth of about 27.5%[21] - The net cash flow from operating activities was CNY 2,064,464,980.82, compared to CNY 1,257,356,014.44 in the previous year, marking an increase of approximately 64.2%[21] - Cash outflow for investing activities was CNY 8,819,690,884.12, down from CNY 10,012,139,086.84 in the same period last year, showing a decrease of about 11.9%[22] - The net cash flow from investing activities was -CNY 2,107,347,096.41, compared to -CNY 282,292,754.44 in the previous year, indicating a larger outflow year-over-year[22] - The total cash inflow from investment activities was CNY 6,712,343,787.71, down from CNY 9,729,846,332.40 in the previous year, indicating a decrease of about 30.8%[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥36,726,204,642.93, a 2.95% increase from the end of the previous year[5] - Total assets as of Q3 2022 were ¥36,726,204,642.93, up from ¥35,674,004,159.20 at the end of Q3 2021, indicating a growth of 2.9%[16] - Total current assets increased to ¥20,261,566,112.69 from ¥19,548,477,273.28, reflecting a growth of about 3.65% year-over-year[14] - Total liabilities decreased to ¥14,223,471,589.43 in Q3 2022 from ¥14,656,774,073.78 in Q3 2021, a reduction of 3.0%[16] - The company's equity attributable to shareholders increased to ¥21,795,359,370.23 in Q3 2022, compared to ¥20,300,581,732.95 in Q3 2021, reflecting a growth of 7.4%[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 121,713, with the largest shareholder, China National Offshore Oil Corporation, holding 79.84% of shares[10] - Shareholders' equity attributable to the parent company was ¥21,795,359,370.23, up 7.36% year-over-year[5] Research and Development - Research and development expenses for Q3 2022 amounted to ¥833,188,458.43, an increase of 19.6% from ¥696,709,388.45 in Q3 2021[18] Other Information - The company has not disclosed any new product or technology developments during the reporting period[12] - There are no significant mergers or acquisitions reported in the current quarter[12] - The company has not provided specific future guidance or outlook for the upcoming quarters[12] - The company's cash and cash equivalents as of September 30, 2022, amount to ¥2,551,590,795.28, down from ¥3,150,711,132.73 at the end of 2021, representing a decrease of approximately 19%[14] - The company received CNY 304,346,756.44 in tax refunds, significantly higher than CNY 67,029,689.83 received in the previous year, representing an increase of approximately 353.5%[21]

Financial Performance - The company's operating revenue for the first half of 2022 reached ¥20,275,115,037.43, representing a 30.22% increase compared to ¥15,569,858,057.71 in the same period last year[14]. - Net profit attributable to shareholders was ¥1,034,596,736.55, up 47.20% from ¥702,856,729.03 year-on-year[14]. - The net cash flow from operating activities surged to ¥1,468,715,373.29, a significant increase of 474.99% compared to ¥255,434,291.46 in the previous year[14]. - The basic earnings per share for the first half of 2022 was ¥0.1018, reflecting a 47.32% increase from ¥0.0691 in the same period last year[16]. - The weighted average return on net assets improved to 4.84%, an increase of 1.30 percentage points from 3.54% year-on-year[16]. - The net profit after deducting non-recurring gains and losses was ¥909,731,241.71, which is a 52.89% increase from ¥595,021,630.56 in the same period last year[14]. - The diluted earnings per share also stood at ¥0.1018, consistent with the basic earnings per share, indicating strong performance[16]. - The total assets of the company amounted to ¥36,721,770,404.56, reflecting a stable financial position[16]. - The total operating costs amounted to ¥19,305,314,332.39, up from ¥14,896,583,632.05, reflecting a 29% increase year-over-year[121]. - Net profit for the first half of 2022 was ¥1,084,945,030.06, compared to ¥755,806,454.17 in the previous year, representing a 43% growth[123]. Revenue Segmentation - The energy technology service segment generated a revenue of 5.441 billion CNY, with a year-on-year increase of 17.85%[25]. - The low-carbon environmental and digitalization segment reported a revenue of 3.342 billion CNY, growing by 14.60% year-on-year[25]. - The energy logistics service segment achieved a revenue of 12.148 billion CNY, reflecting a significant growth of 42.13%[25]. - The company achieved a revenue of 20.275 billion CNY in the first half of 2022, representing a year-on-year growth of 30.22%[24]. - The company reported a total revenue of 13,914.35 million for the first half of 2022, with a net profit of 5,565.74 million, representing a profit margin of approximately 40%[40]. Investment and R&D - Research and development expenses increased by 31.17% year-on-year to approximately ¥539.47 million, reflecting the company's commitment to enhancing R&D investment[29]. - The company has established 37 enterprise technology centers and operates multiple national-level research institutions[23]. - The company holds 1,804 authorized patents and has received 275 national and provincial-level scientific research awards[23]. - The company is actively developing technologies in safety emergency, energy conservation, water treatment, and digitalization for sustainable long-term growth[20]. - New product development initiatives are underway, with an investment of 200 million RMB allocated for R&D in innovative energy solutions[144]. Environmental and Safety Management - The company is committed to enhancing emergency response capabilities and has implemented a comprehensive safety management system[41]. - The company has established pollution control facilities in compliance with environmental assessment requirements, and these facilities are operating normally[58]. - The company has implemented emergency response plans for environmental incidents, which have been filed with local environmental authorities and are regularly reviewed and practiced[63]. - The company has established a hazardous waste storage facility with a design capacity of 7.5 tons per day for the first phase and 15 tons per day for the second phase, with a wastewater treatment system designed to handle 200 tons per day[4]. - The company has made significant progress in carbon monitoring, carbon asset management, and clean energy substitution[69]. Corporate Governance and Compliance - The company has maintained a good integrity record during the reporting period, with no penalties or violations reported by regulatory authorities[86]. - The company has undergone significant changes in its board and management, with several new appointments and elections as of June 14, 2022[46]. - The company has confirmed that there were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[84]. - The company has committed to not interfering with the operational management of the issuer, ensuring the protection of shareholder interests[81]. - The company has retained the auditing firm Lixin Certified Public Accountants for the 2022 financial year, ensuring ongoing financial oversight[85]. Future Outlook and Strategic Initiatives - The company has outlined a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12% based on current market trends and user acquisition strategies[144]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share within the next two years[144]. - A strategic acquisition of a local competitor is in progress, expected to enhance the company's service capabilities and increase overall market competitiveness[144]. - The company aims to explore comprehensive energy service models through projects like the carbon-neutral factory and zero-carbon park[69]. - The company has implemented new sustainability strategies, aiming for a 30% reduction in carbon emissions by 2025[144]. Financial Position and Assets - The total assets of the company amounted to 36.722 billion CNY, a growth of 2.94% from the end of the previous year[24]. - Total current assets increased to RMB 20,522,122,576.93 from RMB 19,548,477,273.28, representing a growth of approximately 5%[115]. - Cash and cash equivalents rose to RMB 3,409,186,361.17 from RMB 3,150,711,132.73, an increase of about 8.2%[115]. - Total liabilities increased to RMB 15,147,158,320.44 from RMB 14,656,774,073.78, showing a rise of approximately 3.4%[116]. - The total equity attributable to shareholders rose to ¥20,873,140,840.98, up from ¥20,300,581,732.95, reflecting an increase of about 2.83%[117]. Related Party Transactions - The total amount of related party transactions with China National Offshore Oil Corporation reached ¥3,310,421,295.03 for material procurement, accounting for 21.39% of similar transactions[89]. - The total amount of related party transactions with CNOOC Refining & Petrochemical Co., Ltd. for material procurement was ¥3,329,628,805.87, representing 21.52% of similar transactions[89]. - Revenue from low-carbon environmental and digital services provided to CNOOC reached ¥1,345,539,292.56, which is 6.64% of similar transactions[89]. - The company provided energy technology services to CNOOC, generating revenue of ¥4,700,323,294.15, accounting for 23.18% of similar transactions[89]. - CNOOC will ensure that any unavoidable related party transactions are conducted at fair prices comparable to independent third-party transactions[76].

Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.55 RMB per 10 shares, totaling approximately 559 million RMB, which accounts for 43.56% of the net profit attributable to shareholders for 2021[3]. - The company has not proposed any capital reserve transfer to increase share capital or bonus shares for this dividend distribution[3]. - The company emphasizes a stable profit distribution policy, prioritizing cash dividends when conditions are met[109]. - The cash dividend policy stipulates that at least 10% of the net profit attributable to shareholders of the parent company must be distributed as cash dividends annually[110]. - In the case of rapid performance growth, the board may propose a stock dividend distribution plan if the stock price does not match the company's capital scale[110]. - The board of directors must propose the annual profit distribution plan, which requires approval from more than half of the independent directors before being submitted to the shareholders' meeting[110]. Financial Performance - In 2021, the company achieved operating revenue of RMB 38.74 billion, a 16.66% increase compared to RMB 33.21 billion in 2020[20]. - The net profit attributable to shareholders was RMB 1.28 billion, representing a decrease of 15.65% from RMB 1.52 billion in 2020[20]. - The basic earnings per share (EPS) for 2021 was RMB 0.1263, down 15.63% from RMB 0.1497 in 2020[21]. - The net cash flow from operating activities decreased by 36.43% to RMB 2.63 billion from RMB 4.14 billion in 2020[20]. - The company's total assets increased by 9.51% to RMB 35.67 billion at the end of 2021, compared to RMB 32.58 billion at the end of 2020[20]. - Operating costs increased to ¥33.62 billion, reflecting a year-on-year growth of 16.49%, which is lower than the revenue growth rate[43]. Risk Management and Compliance - The company has outlined potential risks in its future development, which are detailed in the management discussion and analysis section[6]. - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[4]. - The company has confirmed that there are no non-operational fund occupations by controlling shareholders or related parties[5]. - The company has not reported any violations of regulations in its financial disclosures[5]. - The company has maintained compliance with decision-making procedures regarding external guarantees[5]. - The company has implemented strict internal control systems to enhance governance and protect shareholder interests[79]. Research and Development - The company is focused on enhancing its technology research and development to support high-quality development strategies[30]. - Research and development expenses rose to ¥1.04 billion, marking a 21.67% increase compared to the previous year, indicating a continued commitment to R&D investment[43]. - The company has established 37 enterprise technology centers and holds 1,804 authorized patents, showcasing its strong R&D and innovation capabilities[42]. - The company completed 16 key technology research projects, including underwater production system integration testing technology[59]. - The company has outlined 33 core technologies and 24 distinctive technologies as part of its "14th Five-Year" technology plan[58]. Environmental Responsibility - The company is committed to achieving carbon peak and carbon neutrality goals, actively promoting green and low-carbon transformation[40]. - The company has established a carbon peak and carbon neutrality working group and developed multiple action plans for green development and low-carbon transition[137]. - The company reported hazardous waste generation, including 340.22 tons of HW09 hazardous waste and 34.2 tons of HW08 hazardous waste from its engineering technology division[120]. - The company has implemented measures for hazardous waste storage, ensuring no soil contamination occurs during temporary storage[120]. - The company’s wastewater treatment facilities are compliant with the first-level A discharge standards for urban sewage treatment plants[123]. Corporate Governance - The company held seven board meetings during the reporting period, ensuring compliance with governance procedures and providing decision-making support for normal operations[79]. - The company’s board of supervisors convened five meetings, contributing to the standard operation and healthy development of the company[79]. - The company has established a long-term mechanism to prevent the controlling shareholder from infringing on the company's interests[79]. - The independent directors have diligently fulfilled their responsibilities, ensuring compliance during board meetings, especially regarding related party transactions[79]. - The company has established a comprehensive corporate governance system, with clear responsibilities and standardized operations, and no major compliance issues were found during the self-inspection period from June 26, 2019, to December 31, 2020[117]. Market and Competitive Landscape - The international oil and gas service industry is highly competitive, with major players including Schlumberger, Halliburton, and Baker Hughes, while domestic competition is primarily led by state-owned enterprises[73]. - The market share of private oilfield service companies is rising as regional characteristics weaken, with the opening of the upstream sector and the establishment of a new competitive landscape among state-owned, private, and foreign enterprises[74]. - The company is observing trends in the oil and gas market, which is gradually opening up, potentially increasing competition from high-quality private enterprises[73]. - The company is committed to achieving carbon peak by 2030 and carbon neutrality by 2060, focusing on low-carbon technology innovation and the development of a low-carbon industry[74]. Strategic Initiatives - The company aims to enhance operational efficiency through systematic cost reduction and efficiency improvement initiatives[37]. - The company aims for net production targets of 600-610 million barrels of oil equivalent in 2022, increasing to 640-650 million in 2023, and 680-690 million in 2024[39]. - The capital expenditure budget for 2022 is set at RMB 90-100 billion, with 13 new projects expected to be launched during the year[39]. - The company is actively exploring clean energy industries such as distributed energy, lithium batteries, and hydrogen energy[36]. - The company plans to invest approximately 2.41 billion yuan in the construction of a 100,000-ton FPSO for the Lufeng 12-3 oilfield, with the project expected to be completed by August 22, 2023[68]. Social Responsibility - The company donated 15 million yuan to the Ecological Protection Public Welfare Foundation for targeted assistance projects in Inner Mongolia in 2021[140]. - The company produced 115,757 sets of work clothes and 88,722 pairs of shoes through the Gannan poverty alleviation workshop project, with a total order value of approximately 40% higher than in 2020[140]. - The company trained 2,014 individuals through its rural revitalization education assistance projects in 2021[140]. - The company is committed to consolidating and enhancing the results of poverty alleviation and rural revitalization through various initiatives[140]. - The company has a focus on low-income employee groups, providing support through relevant policies[106].

Financial Performance - The company's operating revenue for Q3 2021 was ¥9,930,110,009.27, representing a year-on-year increase of 38.75%[4] - The net profit attributable to shareholders for Q3 2021 was ¥639,515,890.40, an increase of 22.05% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥596,839,741.24, reflecting a growth of 28.36% year-on-year[4] - The basic earnings per share for Q3 2021 was ¥0.0629, up by 22.05% from the previous year[5] - Total operating revenue for the first three quarters of 2021 reached CNY 25,499,968,066.98, an increase from CNY 20,593,414,872.09 in the same period of 2020, representing a growth of approximately 23.2%[17] - Net profit attributable to shareholders for Q3 2021 was CNY 1,342,372,619.43, compared to CNY 1,076,530,391.72 in Q3 2020, reflecting an increase of about 24.7%[18] - The total comprehensive income attributable to shareholders for Q3 2021 was CNY 1,325,439,285.60, an increase from CNY 1,031,648,937.50 in Q3 2020, indicating a growth of about 28.5%[18] - The total comprehensive income for the period attributable to the parent company's owners was CNY 1,325,442,284.89, an increase from CNY 1,031,640,317.76 in the same period last year, representing a growth of approximately 28.5%[19] - Basic and diluted earnings per share for the period were CNY 0.1321, compared to CNY 0.1059 in the previous year, reflecting an increase of about 25.5%[19] Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was ¥1,257,356,014.44, showing a significant increase of 97.51%[5] - The company improved cash flow management, resulting in over 30% increase in cash inflows from operating activities[8] - Cash inflow from operating activities totaled CNY 28,638,027,777.26, up from CNY 21,894,808,256.69, indicating a growth of approximately 30.6% year-over-year[21] - Cash outflow from operating activities was CNY 27,380,671,762.82, compared to CNY 21,258,198,050.51 in the previous year, resulting in a net cash flow from operating activities of CNY 1,257,356,014.44, up from CNY 636,610,206.18[21] - The company reported a significant increase in cash received from sales of goods and services, amounting to CNY 28,068,052,114.01, compared to CNY 21,363,413,744.45 in the previous year, marking a growth of approximately 31.4%[20] - Cash and cash equivalents were reported at ¥3.08 billion, down from ¥3.37 billion at the end of 2020, indicating a decrease of about 8.5%[13] - Total assets at the end of the reporting period were ¥33,144,196,889.82, an increase of 1.74% compared to the end of the previous year[5] - Total current assets amounted to approximately ¥17.19 billion, slightly decreased from ¥17.19 billion at the end of 2020[13] - Trade receivables stood at ¥8.50 billion, a decrease from ¥8.94 billion, reflecting a decline of approximately 5%[13] - Non-current assets totaled approximately ¥15.96 billion, up from ¥15.38 billion, indicating an increase of about 4%[14] Shareholder Information - Total number of common shareholders at the end of the reporting period is 137,616, with the largest shareholder, China National Offshore Oil Corporation, holding 79.84% of shares[10] - The largest shareholder, China National Offshore Oil Corporation, holds 8,116,016,667 shares, which is 79.84% of the total shares[10] - The company has no pledged, marked, or frozen shares among the top ten shareholders[10] Liabilities and Equity - Total liabilities amounted to CNY 12,034,568,717.83, a slight decrease from CNY 12,401,711,072.13 in the previous year, indicating a reduction of approximately 2.9%[16] - The company's total equity reached CNY 21,109,628,171.99, compared to CNY 20,174,327,296.67 in the previous year, showing a growth of approximately 4.6%[16] - The company's total equity increased to $20.17 billion from $20.17 billion, showing a slight change of approximately -$2.02 million[24] Research and Development - Research and development expenses for the first three quarters of 2021 were CNY 696,709,388.45, up from CNY 569,332,244.29 in the same period of 2020, marking an increase of around 22.3%[17] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18] - The company has not disclosed any significant new strategies or future outlook in the provided documents[12] Investment Activities - Investment income for Q3 2021 was CNY 219,494,046.43, compared to CNY 164,338,344.41 in Q3 2020, reflecting an increase of approximately 33.6%[18] - Investment activities generated a net cash flow of CNY -282,292,754.44, compared to CNY -140,007,682.94 in the same period last year, indicating a worsening in investment cash flow[21] - The company received CNY 9,477,238,743.77 in cash from investment recoveries, a significant increase from CNY 3,172,057.21 in the same period last year[21] Leasing and Financial Commitments - The company has implemented new leasing standards starting from 2021, which may impact future financial reporting and cash flow management[22] - The company recognized new right-of-use assets amounting to $213.44 million[25] - The company confirmed lease liabilities of $152.96 million, indicating new financial commitments[25] - The retained earnings were adjusted down by $1.96 million due to cumulative impacts from lease contracts[25]

Financial Performance - The company's operating revenue for the first half of 2021 was approximately ¥15.57 billion, representing a 15.88% increase compared to ¥13.44 billion in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2021 was approximately ¥702.86 million, an increase of 27.20% from ¥552.54 million in the previous year[17]. - The net profit after deducting non-recurring gains and losses was approximately ¥595.02 million, reflecting a 27.24% increase compared to ¥467.64 million in the same period last year[17]. - The basic earnings per share for the first half of 2021 was ¥0.0691, up 27.02% from ¥0.0544 in the previous year[19]. - The weighted average return on net assets increased to 3.54%, up 0.60 percentage points from 2.94% in the same period last year[19]. - The company achieved operating revenue of RMB 15.57 billion, a year-on-year increase of 15.88%, and a net profit attributable to shareholders of RMB 703 million, up 27.20% year-on-year[26]. - The company reported a net profit of 755.81 million RMB, representing a year-on-year increase of 27.89%[37]. - Operating income increased by 15.88% to 15.57 billion RMB, driven by increased workload in upstream related businesses[36]. Cash Flow and Assets - The net cash flow from operating activities decreased by 77.77% to approximately ¥255.43 million, primarily due to increased payments to suppliers compared to the previous year[18]. - Cash and cash equivalents decreased by 22.00% to ¥2,628,346,019.41, accounting for 8.34% of total assets[40]. - Trading financial assets increased by 164.42% to ¥1,425,164,853.46, representing 4.52% of total assets[40]. - Inventory rose by 36.81% to ¥809,437,831.10, due to increased workload and stockpiling of raw materials and finished products[41]. - Contract assets increased by 26.73% to ¥2,302,004,936.13, accounting for 7.31% of total assets[40]. - The total assets at the end of the reporting period were approximately ¥31.51 billion, a decrease of 3.28% from ¥32.58 billion at the end of the previous year[17]. - The total liabilities decreased from CNY 12.40 billion to CNY 11.04 billion, a decline of about 10.99%[120]. - The company reported a significant increase in contract liabilities from CNY 321.20 million to CNY 715.18 million, an increase of approximately 123.00%[120]. Capital Expenditure and Investment - The company's capital expenditure plan for 2021 is projected to be between RMB 90 billion and RMB 100 billion, representing a year-on-year increase of 13-26% compared to RMB 79.5 billion in 2020[23]. - The energy technology service segment reported operating revenue of RMB 4.62 billion, an increase of 14.59% compared to RMB 4.03 billion in the same period last year, with operating profit rising by 15.18% to RMB 412 million[27][28]. - The low-carbon environmental and digitalization segment generated operating revenue of RMB 2.92 billion, a growth of 15.06% from RMB 2.53 billion, with operating profit soaring by 171.79% to RMB 1.02 billion[29][30]. - The company reported investment income of ¥144,351,500.68, down 8% from ¥156,963,035.46 year-on-year[125]. Research and Development - The company holds 1,630 authorized patents and has received 262 national and provincial-level scientific research awards, demonstrating strong R&D and innovation capabilities[25]. - Research and development expenses grew by 22.01% to 411 million RMB, indicating a continued focus on innovation[37]. - The company is focused on optimizing its research investment structure to enhance core technological capabilities in line with national energy strategies[49]. Environmental and Social Responsibility - The company is committed to enhancing oil and gas recovery rates and supporting the "Seven-Year Action Plan" for domestic oil and gas production[22]. - The company is actively developing low-carbon environmental industries, responding to national strategies and policies, and holds a 4% stake in the Beijing Green Exchange[24]. - The company has implemented a self-monitoring plan for wastewater, with water quality tests conducted quarterly and air quality tests conducted biannually[69]. - The company reported a total of 4,681,920 cubic meters of waste gas emissions from its operations during the reporting period[72]. - The company donated RMB 15 million to the China National Offshore Oil Corporation Marine Environment and Ecological Protection Public Welfare Fund for targeted assistance projects in Zhuozi County, Inner Mongolia[76]. - The company has established 6 online sales platforms and 19 offline stores to enhance sales channels for agricultural products from poverty-stricken areas[77]. Corporate Governance and Shareholder Relations - The company committed to not transferring or entrusting the management of shares held prior to the IPO for 36 months from the date of listing[82]. - CNOOC will not use its controlling shareholder status to harm the interests of the company and its other shareholders[81]. - The company has maintained a good integrity record during the reporting period, with no adverse records from regulatory agencies[91]. - The company will disclose any violations of commitments by CNOOC and provide explanations to shareholders and the public[84]. Risk Management - The company is facing health, safety, and environmental risks due to extreme weather and the COVID-19 pandemic, and is implementing a three-year safety production action plan[49]. - Market competition and operational risks are influenced by oil price volatility, prompting the company to enhance its operational and technological capabilities[49]. - The company has a total of 35 subsidiaries under its consolidated financial statements as of June 30, 2021[146]. Accounting and Financial Reporting - The financial statements are prepared based on the going concern principle, indicating the company has the ability to continue operations for at least 12 months from the reporting date[150]. - The company adheres to the enterprise accounting standards, ensuring that the financial statements accurately reflect its financial position and operating results[151]. - The company recognizes its share of assets and liabilities in joint operations, confirming both individually held and jointly held assets and liabilities[157].

Financial Performance - Operating revenue increased by 9.59% to CNY 6,548,586,949.31 year-on-year[4] - Net profit attributable to shareholders rose by 72.38% to CNY 218,800,114.81 compared to the same period last year[4] - Operating profit increased by 42.15% year-on-year, attributed to increased workload and effective cost control measures[12] - Net profit rose by 69.15% year-on-year, driven by increased workload and enhanced efficiency[12] - Basic and diluted earnings per share increased by 72.00% to CNY 0.0215 per share[4] - Total operating revenue for Q1 2021 was RMB 6,548,586,949.31, an increase of 9.55% compared to RMB 5,975,468,702.04 in Q1 2020[23] - Net profit for Q1 2021 reached RMB 241,296,157.73, compared to RMB 142,650,216.62 in Q1 2020, representing a significant increase of 69.06%[23] - The net profit attributable to shareholders of the parent company for Q1 2021 was CNY 218,800,114.81, compared to CNY 126,929,800.96 in Q1 2020, representing an increase of approximately 72%[24] - The total comprehensive income for Q1 2021 was CNY 247,565,382.60, compared to CNY 164,624,657.41 in Q1 2020, indicating an increase of approximately 50%[24] Cash Flow - Net cash flow from operating activities decreased significantly by 85.21% to CNY 101,664,657.08[4] - Cash flow from operating activities decreased by 85.21% year-on-year, mainly due to increased cash payments for goods and services[13] - Cash flow from investing activities increased significantly, with a net inflow of RMB 807,135,073.74, primarily due to a substantial increase in cash received from bank wealth management products[13] - Cash flow from financing activities decreased by 1,433.19% year-on-year, mainly due to increased cash payments for debt repayment[13] - The net cash flow from operating activities was -502,391,437.85 RMB, a decrease from 580,062,517.69 RMB in the same quarter of 2020[29] - Total cash inflow from investment activities was 4,925,518,648.45 RMB, significantly higher than 1,867,127,093.24 RMB in Q1 2020[29] - The net cash flow from investment activities was 1,127,793,075.32 RMB, compared to -180,454,081.10 RMB in the previous year[29] - The cash inflow from operating activities was 4,724,365,583.06 RMB, down from 6,120,747,084.95 RMB in the same quarter last year[29] Assets and Liabilities - Total assets decreased by 7.76% to CNY 30,048,683,407.56 compared to the end of the previous year[4] - Accounts receivable decreased by 66.21% compared to the end of last year, mainly due to strengthened collection efforts[10] - Prepayments increased by 183.70% compared to the end of last year, primarily due to business expansion[10] - Inventory increased by 39.64% compared to the end of last year, driven by increased workload and stockpiling of raw materials and finished products[10] - Contract liabilities grew by 139.08% compared to the end of last year, reflecting increased prepayments from customers due to higher workload[10] - The company's total current assets amounted to approximately CNY 14.78 billion, a decrease from CNY 17.19 billion as of December 31, 2020, reflecting a reduction of about 24.1%[17] - The company's total liabilities decreased to approximately CNY 9.59 billion as of March 31, 2021, from CNY 12.40 billion at the end of 2020, a reduction of about 22.6%[19] - The company's total equity increased to approximately CNY 20.46 billion as of March 31, 2021, compared to CNY 20.17 billion at the end of 2020, reflecting an increase of about 1.4%[19] Shareholder Information - The total number of shareholders reached 154,350 by the end of the reporting period[7] - The largest shareholder, China National Offshore Oil Corporation, holds 79.84% of the shares[7] Future Outlook - The company has not disclosed specific future outlook or guidance in this report[3] Research and Development - Research and development expenses for Q1 2021 amounted to RMB 79,578,195.84, an increase from RMB 61,985,969.37 in Q1 2020, indicating a year-over-year growth of 28.38%[23] - Research and development expenses increased to CNY 21,832,768.49 in Q1 2021 from CNY 12,825,461.58 in Q1 2020, reflecting a rise of approximately 70%[25]

Financial Performance - The company achieved an operating revenue of 33.208 billion yuan in 2020, which remained basically flat year-on-year[2]. - Net profit for the year was 1.602 billion yuan, representing a year-on-year increase of 22.99%[2]. - The company's operating revenue for 2020 was approximately ¥33.21 billion, a decrease of 0.76% compared to ¥33.46 billion in 2019[21]. - Net profit attributable to shareholders for 2020 was approximately ¥1.52 billion, representing a 23.40% increase from ¥1.23 billion in 2019[21]. - The net cash flow from operating activities increased by 41.33% to approximately ¥4.14 billion in 2020, up from ¥2.93 billion in 2019[21]. - The total assets at the end of 2020 were approximately ¥32.58 billion, a 9.68% increase from ¥29.70 billion at the end of 2019[21]. - The net profit after deducting non-recurring gains and losses was approximately ¥1.30 billion, reflecting a 27.82% increase from ¥1.02 billion in 2019[21]. - Basic earnings per share for 2020 was CNY 0.1497, an increase of 12.05% compared to CNY 0.1336 in 2019[22]. - Diluted earnings per share for 2020 was also CNY 0.1497, reflecting the same percentage increase of 12.05% from the previous year[22]. - The profit margin for 2020 improved by 0.91 percentage points to 13.08%[56]. Dividend Policy - The proposed cash dividend is 0.45 yuan per 10 shares, totaling approximately 457 million yuan, which accounts for 30.06% of the net profit attributable to shareholders[5]. - The cash dividend per 10 shares for 2020 was set at 0.4500 RMB, representing 30.06% of the net profit attributable to ordinary shareholders[88]. - The company maintained a consistent dividend policy over the past three years, with cash dividends of 0.3700 RMB in 2019 and 0.3885 RMB in 2018[88]. - The board of directors is required to complete the distribution of dividends within two months after the shareholders' meeting[88]. - The company has a structured process for profit distribution, requiring independent directors to provide clear opinions on cash dividend proposals[87]. - The company emphasizes communication with minority shareholders regarding dividend proposals, ensuring their opinions are considered[87]. Strategic Initiatives - The company focused on enhancing technical service capabilities and innovating business models to address challenges posed by the COVID-19 pandemic and declining oil prices[2]. - The company plans to establish a clean energy subsidiary and explore new growth drivers in offshore wind power and distributed energy sectors[2]. - The company aims to enhance its core competitiveness and promote the development of the new energy industry as part of its "14th Five-Year Plan" strategy[2]. - The company is engaged in a seven-year action plan to strengthen domestic exploration and development from 2019 to 2025[12]. - The company is involved in the "Science and Technology Reform Demonstration Action" to enhance independent innovation capabilities[12]. - The company continues to focus on market expansion and technological innovation as part of its strategic initiatives[12]. - The company is actively developing new energy industries, particularly offshore wind power, as part of its strategic expansion[52]. Research and Development - Significant progress was made in core technology research, including the development of intelligent injection technology and new thermal recovery techniques for heavy oil[2]. - The company holds 1,630 authorized patents and has established 37 enterprise technology centers, showcasing its strong R&D and innovation capabilities[37]. - Research and development expenses increased by 6.26% to RMB 855.29 million, reflecting a commitment to innovation[53]. - The company is focused on expanding its core business segments, including energy technology services and FPSO production technology services, to enhance operational efficiency[30]. - The company is investing in research and development, with a budget increase of 10% to support new technology initiatives[175]. Environmental and Social Responsibility - The company has established a "carbon peak and carbon neutrality" working group to explore the path of collaborative development between traditional and clean energy[84]. - The company has actively engaged in social responsibility initiatives, particularly in poverty alleviation efforts in Gansu Province[128]. - The company reported a total hazardous waste disposal of 1.40 tons for HW06, 59.07 tons for HW08, 558.71 tons for HW09, 7.25 tons for HW34, and 70.12 tons for HW49[135]. - The company executed a total of 4,204.00 cubic meters of domestic sewage discharge and 355.07 cubic meters of oily wastewater disposal[136]. - The company has implemented strict pollution discharge standards, including the GB4914-2008 for offshore facilities and the DB12/356-2018 for wastewater[136]. Market Position and Competition - The company is focused on expanding its market presence and enhancing its operational capabilities through strategic appointments and management restructuring[174]. - The market for oil and gas services is becoming increasingly competitive with the entry of private and foreign companies, leading to a more open market environment[79]. - The company is actively developing new technologies and products, with a focus on integrated and intelligent solutions in water treatment and environmental services[49]. - The company aims to enhance its digital transformation strategy, allocating 500 million RMB for digital infrastructure upgrades[175]. Financial Management - The company reported a significant reduction in financial expenses by 50.01% to RMB 98.25 million, contributing to overall profitability[53]. - The company has a stable profit distribution policy, aiming for a minimum cash dividend of 10% of the net profit attributable to shareholders each year[86]. - The company has provided debt guarantees of ¥100,000.00 for subsidiaries with a debt-to-asset ratio exceeding 70%[122]. - The company has entrusted a total of ¥1,524,000,000 in financial management, with no overdue amounts reported[123][124]. Governance and Compliance - The company has established a long-term mechanism to prevent the controlling shareholder from occupying the company's funds and assets[189]. - The company strictly adheres to information disclosure obligations, ensuring transparency and fairness in its operations[189]. - The internal control audit report for 2020 received a standard unqualified opinion[199]. - The company has not faced any risks of suspension from listing during the reporting period[107]. Human Resources - The number of employees in the parent company is 6,093, while the total number of employees in major subsidiaries is 9,024, resulting in a combined total of 15,117 employees[184]. - The company invested a total of 35.119 million yuan in training in 2020, with an average training cost of 2,323.14 yuan per employee and a total of 86,663 training sessions conducted[186]. - The company has implemented a comprehensive compensation and benefits system, including corporate annuities and supplementary medical insurance[185].