Core Viewpoint - The report from Credit Lyonnais highlights that the utilization rate of CNOOC Oilfield Services' drilling platforms has risen to over 90%, which is encouraging for the market [1] Group 1: Company Performance - CNOOC Oilfield Services is expected to have stronger pricing power, leading to significant operational leverage for its drilling business [1] - If the company can simultaneously improve its drilling services, it will provide dual momentum for a more significant re-evaluation [1] Group 2: Financial Projections - Credit Lyonnais has raised the earnings per share forecast for CNOOC Oilfield Services for 2025 to 2027 by 0% to 1% [1] - The target price for H-shares has been increased from HKD 8.4 to HKD 9.3, while the target price for A-shares has been raised from RMB 18.3 to RMB 19.5 [1] - The rating of "Outperform" is maintained for the stock [1]

该行指出，上半年公司钻井营业利润较2024年明显恢复，营业利润率同比增长4ppt至9%，二季度作业 天数继续修复，同比增长11%至5017天，其中半潜的使用天数增加12%，环比增加2%。该行判断，24年 下半年至25年上半年期间中东钻井停船影响已基本消退，公司在东南亚、巴西的合约有望带来较高日费 率和高利润。 智通财经APP获悉，中海油服(02883)绩后跌超4%，截至发稿，跌4.02%，报7.4港元，成交额1.18亿港 元。 消息面上，中海油田服务发布中期业绩，该集团期内取得收入233.2亿元人民币，同比增加3.51%；公司 所有人应占利润19.64亿元，同比增加23.33%；每股基本盈利41.16分。中金发布研报称，油技服务收入 同比下滑3.5%至123.8亿元，营业利润率同比基本持平为17%，母公司油技服务订单量同比或略有减 少。 ...

Financial Data and Key Metrics Changes - The company reported a net profit growth of over 20% year on year for H1 2025, indicating strong financial performance [2][4]. Business Line Data and Key Metrics Changes - The Drilling Services segment experienced growth in both volume and price, with a 28% year-on-year increase in daily rates for jackup drilling rigs [5][8]. - The Well Services segment saw a decline in revenue by approximately $400 million and a profit decrease of about $110 million to $130 million, attributed to a reduced customer base and increased competition [6][14]. Market Data and Key Metrics Changes - The company operates 13 drilling rigs overseas, with contracts secured until 2029 or 2030 in regions like Norway and the Middle East, suggesting stability in overseas operations [5][11]. - The oil price is forecasted to remain stable at around USD 65 to USD 70, which is considered a reasonable level for the industry [5][10]. Company Strategy and Development Direction - The company aims to become an internationally first-rate oilfield service provider, focusing on technological leadership and innovation [33][34]. - There is a clear goal to broaden the customer base and enhance innovation capabilities, with significant investments in technology [35][36]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining daily rates due to secured contracts and a stable operational environment despite macroeconomic uncertainties [12][20]. - The company plans to control costs and increase revenue, emphasizing the importance of operational efficiency [17][20]. Other Important Information - The company completed a loan repayment of $1 billion, utilizing both self-owned capital and borrowed funds to optimize its debt structure [15][16]. - The company is focusing on developing made-in-China drilling rigs, which are expected to provide cost-effective solutions in a low to medium oil price environment [26][27]. Q&A Session Summary Question: Concerns about Drilling Services segment and daily rate stability - Management indicated that the daily rates for drilling services are expected to remain stable due to secured contracts and a favorable market outlook [5][10]. Question: Reasons for decline in Well Services segment - The decline was attributed to a reduced customer base in China and increased competition, leading to changes in the charging model [6][14]. Question: CapEx adjustments and fund utilization - Management confirmed that the decline in revenue was more pronounced overseas, particularly in Southeast Asia, and discussed the repayment of debts using self-owned capital [13][15]. Question: Future plans for old and new vessels - The company is optimizing its vessel fleet and has made progress in this area, focusing on both the disposal of older vessels and the development of new ones [25][30].

Financial Data and Key Metrics Changes - The company reported a net profit growth of over 20% year on year for the first half of 2025 [3][5][35] - Operational efficiency has improved, and the company's value creation capabilities have strengthened both domestically and internationally [3][4] Business Line Data and Key Metrics Changes - In the Drilling Services segment, daily rates for jackup drilling rigs increased by 28% year on year [10][12] - The Well Services segment experienced a revenue decline of approximately $400 million and a profit decrease of about $110 million to $130 million [7][16] - The customer base for Well Services in China decreased, impacting revenue and profitability [8][16] Market Data and Key Metrics Changes - The company has 13 drilling rigs overseas, with contracts secured until 2029 or 2030 in regions like Norway and the Middle East [6][12] - The oil price is forecasted to remain stable at around USD 65 to USD 70, which is considered a reasonable medium level for the industry [6][12] Company Strategy and Development Direction - The company aims to become an internationally first-rate oilfield service provider, with a focus on technological leadership and innovation [35][36] - Plans include broadening the customer base and developing new products based on technological innovations [38][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining daily rates due to stable contracts and investments in key regions despite macroeconomic uncertainties [14][20] - The company is focused on cost management and efficiency improvements to navigate market volatility [20][23] Other Important Information - The company completed a loan repayment of $1 billion using self-owned capital and borrowed funds, optimizing its debt structure [17][18] - The company is actively working on designing and promoting made-in-China drilling rigs, with positive industry recognition [29][30] Q&A Session Summary Question: Concerns about Drilling Services segment and daily rate stability - Management indicated that overseas contracts are stable, and daily rates are expected to remain steady despite low oil prices [6][12] Question: Reasons for decline in Well Services segment - The decline was attributed to a decrease in the customer base in China and increased competition in the oilfield chemical industry [8][16] Question: Future CapEx adjustments and fund utilization - Management confirmed that the revenue decline was primarily from China, and they have optimized their debt structure to manage funding needs [17][18] Question: Impact of old vessel disposal and new vessel plans - The company is focusing on optimizing its vessel fleet and has made progress in this area [28] Question: Future prospects for new drilling rigs - Management is optimistic about the prospects for new drilling rigs and plans to move into concrete building works in the near future [29][30]

免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 每经AI快讯，信达证券8月27日发布研报称，给予中海油服（601808.SH，最新价：14.58元）买入评 级。评级理由主要包括：1）上半年公司营收和利润均实现同比增长，主要来自钻井业务贡献；2）持续 研发投入和技术创新提高公司竞争力。风险提示：宏观经济波动和油价下行风险；需求恢复不及预期风 险等。 每经头条（nbdtoutiao）——能给主人"打电话"的宠物智能手机也来了！宠物产业3000亿元市场大爆 发，行业上市公司"涨"声一片 （记者 王瀚黎） ...

Disclaimer The information contained in this presentation is intended solely for your personal reference. In addition, such information contains projections and forward-looking statements that rellect the Company's current views with respect to future events and financial performance. These views are based on assumptions subject to various risks. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. Actual results may diffe ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 23.32 billion yuan for the first half of 2025, representing a year-on-year increase of 3.5%. The net profit attributable to shareholders was 1.964 billion yuan, up 23.4% year-on-year, with a basic earnings per share of 0.41 yuan, reflecting a 24.2% increase year-on-year [2][3] - The growth in revenue and profit is primarily driven by the drilling business, with significant contributions from high-day-rate projects in the North Sea region of Norway and increased operational workload [4] - The company is expected to maintain high utilization rates for its platforms and potentially increase day rates in the second half of the year due to the resumption of contracts in the Middle East and ongoing operations in South America [4] - Continuous investment in research and development, along with technological innovations, is enhancing the company's competitiveness, with high-tech products entering industrialization and brand development phases [4] - Profit forecasts for 2025-2027 indicate net profits of 4.015 billion, 4.384 billion, and 4.734 billion yuan, with corresponding growth rates of 28.0%, 9.2%, and 8.0% respectively [4] Financial Summary - For the first half of 2025, the company achieved a gross margin of 12.92% for drilling, 23.98% for oil services, -2.18% for geophysical services, and 8.12% for shipping, showing improvements across all segments [4] - The company’s revenue is projected to grow from 44.109 billion yuan in 2022 to 60.306 billion yuan by 2027, with a compound annual growth rate of approximately 5.3% [5] - The earnings per share (EPS) is expected to increase from 0.63 yuan in 2022 to 0.99 yuan by 2027, reflecting a positive trend in profitability [5][7]

Group 1 - CNOOC Services (SH 601808) announced the third board meeting of 2025 held on August 26, 2025, in Shenzhen, where the proposal to cancel the supervisory board and amend the company’s articles of association was reviewed [1] - For the year 2024, CNOOC Services' revenue composition is as follows: oilfield technical services accounted for 57.26%, drilling business for 27.34%, shipping services for 9.87%, and geophysical and engineering survey services for 5.53% [1] Group 2 - The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to a surge in stock prices for related listed companies [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 ■ 证券代码：601808 证券简称：中海油服 公告编号：临2025-020 中海油田服务股份有限公司 董事会2025年第三次会议决议公告 特别提示 一、董事会会议召开情况 中海油田服务股份有限公司（以下简称"公司"或"中海油服"）董事会2025年第三次会议于2025年8月26 日在深圳以现场表决方式召开。会议通知于2025年8月8日以电子邮件方式送达董事。会议应出席董事8 人（卢涛先生因其他公务原因未能亲自出席并书面委托赵顺强先生代为行使表决权，独立董事赵丽娟女 士因其他公务原因未能亲自出席并书面委托独立董事郭琳广先生代为行使表决权），实际出席董事8 人。会议由董事长赵顺强先生主持。公司监事赵锋先生、胡昭玲女士、王林根先生列席会议。公司董事 会秘书孙维洲先生、首席财务官郄佶先生列席会议。会议的召开符合《中华人民共和国公司法》等相关 法律、行政法规、部门规章和《中海油田服务股份有限公司章程》(以下简称"《公司章程》")的规定。 二、董事会会议审议情况 （一） 审议通过关于取消监事会并修订《公司章程》的议案。 参会董事以8票同意，0票反对，0票弃权通过此项议案。 ...

智通财经APP讯，中海油服(601808.SH)披露2025年半年度报告，报告期公司实现营收233.2亿元，同比 增长3.5%;归母净利润19.64亿元，同比增长23.3%;扣非净利润19.39亿元，同比增长20.9%;基本每股收益 0.41元。 ...