Financial Performance - Total revenue for 2022 was RMB 35,610.1 million, an increase of 22.1% compared to RMB 29,168.5 million in 2021[10]. - Operating profit for 2022 reached RMB 2,723.4 million, up 76.7% from RMB 1,541.3 million in 2021[13]. - Annual profit for 2022 was RMB 2,493.1 million, significantly higher than RMB 322.1 million in 2021, marking a 674.0% increase[13]. - Basic earnings per share for 2022 were RMB 49.3 cents, compared to RMB 6.56 cents in 2021, reflecting a growth of 651.5%[13]. - The capital return rate for 2022 was 6.4%, a significant increase from 0.8% in 2021[13]. - The dividend payout ratio for 2022 was 32.5%, down from 228.5% in 2021, indicating a shift towards sustainable dividend policies[13]. - Total equity at the end of 2022 was RMB 39,898.1 million, up 4.4% from RMB 38,216.3 million at the end of 2021[14]. - The net profit for 2022 was RMB 2,493.1 million, up RMB 2,171.0 million compared to the previous year[25]. - The company's total operating expenses increased by RMB 5,044.4 million, representing a growth of 17.9% compared to RMB 28,184.5 million in 2021[60]. - Employee compensation costs rose by RMB 1,383.8 million, a significant increase of 22.9% year-on-year, primarily due to wage adjustments for frontline staff[61]. International Business Expansion - International business revenue for 2022 was RMB 6,274.5 million, representing a 35.9% increase from RMB 4,615.6 million in 2021[13]. - The company is actively expanding its overseas markets in regions such as Asia-Pacific, Middle East, Americas, Europe, and Africa[4]. - The company's international revenue reached RMB 6,274.5 million, a 35.9% increase from RMB 4,615.6 million in the previous year, accounting for 17.6% of total revenue[57]. - The company secured long-term contracts in the Middle East with a total value of approximately RMB 14 billion, marking a new phase of cooperation with international oil companies[29]. Technological Innovation - The company aims to deepen its technological innovation efforts and achieve breakthroughs in key core technologies as part of its strategic initiatives for 2023[22]. - The company has developed over 10 types of high-temperature completion tools, addressing the challenge of sealing technology at 350°C[35]. - The company has successfully applied its self-developed water-based drilling fluid high-temperature loss-reducing agent and efficient lubricant, breaking the technical monopoly and achieving industrial promotion[35]. - The company successfully completed operations with its self-developed high-end remote-controlled deep-water cementing head in the international market, marking a significant technological breakthrough[36]. - The company achieved scale application of its self-developed downhole testing spectral analysis module in Southeast Asia, breaking the foreign monopoly on key technologies[36]. Environmental and Social Responsibility - The company is focusing on green and low-carbon development, with initiatives including the rapid deployment of 12 LNG-powered vessels, making it the largest LNG-powered fleet globally[20]. - The company is focusing on green low-carbon transformation and diversifying into renewable energy sectors such as wind, solar, and hydrogen[24]. - The company reported a social contribution value per share of 2.55 RMB in 2022, up from 1.75 RMB in 2021[138]. - Environmental investment for 2022 was 51.85 million RMB, down from 64.12 million RMB in 2021[141]. - The energy-saving amount in 2022 was 17,764 tons of standard coal, significantly higher than 9,600 tons in 2021[141]. Corporate Governance - The company aims to improve brand influence through significant events, linking brand building to performance enhancement[150]. - The company has established a governance structure that integrates party leadership into all decision-making processes, enhancing the effectiveness of the board and management[153]. - The board of directors consists of three independent directors with extensive experience in finance, law, and energy, ensuring compliance and effective oversight[155]. - The company has complied with the corporate governance requirements as per the Hong Kong Stock Exchange and has made efforts to improve information disclosure and investor relations[83]. - The company has established a comprehensive risk management system, including annual risk identification and assessment, and quarterly comprehensive risk management reports to the board[88]. Operational Efficiency - The company plans to enhance its governance system and improve operational efficiency in 2023, while continuing to expand its international market presence[22]. - The company achieved a 25.9% increase in operating days for platform supply vessels, totaling 16,991 days in 2022 compared to 13,491 days in 2021[40]. - The total operating days for drilling platforms reached 16,727 days in 2022, an increase of 2,645 days or 18.8% year-on-year[30]. - The utilization rate of available days for drilling platforms improved to 83.5%, an increase of 11.6 percentage points from the previous year[30]. Customer Satisfaction and Quality Management - Customer satisfaction rate reached 98.8% in 2022, with no service complaints received[195]. - The company conducted 118 quality control (QC) group activities in 2022, with 18 groups recognized for excellence in quality management[179]. - The company is focused on optimizing customer experience by establishing regular communication mechanisms and enhancing service quality across all business lines[180]. - The company is committed to continuous improvement of its quality management system, aligning with international standards and industry requirements[177]. Future Outlook - For 2023, the company anticipates capital expenditure of approximately RMB 9.3 billion, primarily for equipment investment, technology upgrades, and research and development[81]. - The International Monetary Fund (IMF) projects a global economic growth rate of 2.9% for 2023, with a strong recovery in oil demand and stable supply[81]. - The average Brent crude oil price for 2023 is expected to be around $88 per barrel, with global upstream capital expenditure projected at $561.2 billion, reflecting a 12.42% increase[82].

Financial Performance - The company achieved a net profit of RMB 2,493,118,894 for the year 2022, with a net profit attributable to shareholders of RMB 2,352,625,065[4]. - The total undistributed profits available for distribution at the end of 2022 amounted to RMB 20,258,769,571, after distributing RMB 715,738,800 in dividends for the year 2021[4]. - A cash dividend of RMB 0.16 per share (before tax) is proposed, totaling RMB 763,454,720 to be distributed[4]. - The company's operating revenue for 2022 was RMB 35,658.9 million, an increase of 22.1% compared to RMB 29,203.0 million in 2021[20]. - The net profit attributable to shareholders for 2022 was RMB 2,352.6 million, representing a significant increase of 651.1% from RMB 313.2 million in 2021[20]. - The net cash flow from operating activities for 2022 was RMB 6,899.9 million, a decrease of 7.1% from RMB 7,423.9 million in 2021[20]. - The total assets at the end of 2022 were RMB 77,184.1 million, reflecting a 5.3% increase from RMB 73,311.7 million at the end of 2021[20]. - The basic earnings per share for 2022 was RMB 0.49, a 600.0% increase from RMB 0.07 in 2021[21]. - The weighted average return on net assets for 2022 was 6.09%, an increase of 5.27 percentage points from 0.82% in 2021[22]. - The company reported a quarterly revenue of RMB 11,413.2 million in Q4 2022, up from RMB 9,033.1 million in Q3 2022[25]. - The net profit attributable to shareholders in Q4 2022 was RMB 289.4 million, down from RMB 960.7 million in Q3 2022[25]. - The company achieved a total revenue of RMB 35,658.9 million in 2022, representing a year-on-year increase of 22.1%, with a net profit of RMB 2,493.1 million, up 674.3%[49]. Operational Highlights - The drilling services segment generated revenue of RMB 10,346.0 million, a 17.8% increase from RMB 8,779.3 million in 2021[35]. - The oilfield technology services segment achieved revenue of RMB 19,599.7 million, a year-over-year increase of 29.9% from RMB 15,084.6 million[41]. - The company operated a fleet of over 170 offshore support vessels, achieving revenue of RMB 3,725.0 million in 2022, up 12.6% from RMB 3,307.3 million in 2021[42]. - The total operating days for the vessels reached 54,335, an increase of 4,295 days or 8.6% year-over-year[43]. - The average daily revenue for the drilling platforms was $7.8 million, a decrease of $0.4 million or 4.9% compared to 2021[39]. - The company successfully completed 4,619 kilometers of 2D seismic acquisition, an increase of 37.8% from 3,353 kilometers in 2021, while 3D seismic acquisition decreased by 16.1% to 15,110 square kilometers[45]. Strategic Initiatives - The company is committed to green and low-carbon development, actively exploring renewable energy partnerships and advancing CCUS technology[33]. - The company plans to enhance governance efficiency and risk management while focusing on internationalization and regional development strategies in 2023[33]. - The company aims to achieve breakthroughs in key core technologies and digital transformation, enhancing its competitive edge[33]. - The company focuses on five development strategies: technology-driven, cost leadership, integration, internationalization, and regional development[46]. - The company aims to build a world-class energy service company with a complete R&D, production, and service industry chain, ensuring high-quality operations[47]. Risk Management - Major risks include market competition risks due to fluctuations in the international oil and gas industry and health, safety, and environmental risks specific to offshore oilfield services[8]. - The company has established a comprehensive risk management system to enhance its risk identification and response capabilities[88]. - The company faces risks including market competition, health and safety, and environmental risks due to geopolitical tensions and regulatory changes[86]. Corporate Governance - The company has maintained strict compliance with securities trading regulations by its directors and senior management[91]. - The board of directors has held six meetings during the year, ensuring compliance with legal and regulatory requirements in decision-making processes[94]. - The company has established a comprehensive internal control system, covering 14 major internal control frameworks, to mitigate potential risks[97]. - The independent directors have effectively fulfilled their responsibilities, providing professional opinions on financial reporting and risk management[95]. - The company has implemented a diversity policy for its board, considering various factors such as education, experience, and gender in the nomination process[96]. Environmental and Social Responsibility - The company invested RMB 5,185 million in environmental protection during the reporting period[176]. - The company completed 52 energy-saving projects in 2022, achieving a total energy saving of 17,764 tons of standard coal and a carbon reduction of 35,377 tons[188]. - The company has committed to ecological protection and pollution prevention, continuously improving its environmental management system[186]. - The company made a total donation of RMB 1,047.31 million in 2022, involving 14 projects related to education assistance, local support, and consumption assistance[191]. - The company employed 17 university graduates from poverty-stricken areas in 2022 as part of its employment assistance initiatives[194]. Research and Development - Research and development expenses were RMB 978.1 million, showing a slight increase of 1.8% compared to the previous year[50]. - The company completed seven key core technology projects, receiving recognition from the State-owned Assets Supervision and Administration Commission for outstanding achievements[64]. - The number of R&D personnel was 1,725, making up 11.4% of the total workforce, with 32 holding doctoral degrees and 508 holding master's degrees[63]. - The company is investing heavily in R&D, with a budget increase of 30% to support new technology development[131]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 12%[129]. - The company plans to enhance its digital transformation initiatives, aiming for a 50% increase in digital service offerings by the end of the next fiscal year[129]. - The company anticipates a 9% increase in demand for self-elevating drilling rigs and a 5% increase for floating drilling rigs in 2023[84]. - The company aims to reduce operational costs by 8% through efficiency improvements and technology integration[129].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2883） 截至2022年12月31日止年度的 全年業績公佈 財務摘要 1、 收入為人民幣35,610.1百萬元 2、 經營利潤為人民幣2,723.4百萬元 3、 年度利潤為人民幣2,493.1百萬元 4、 基本每股盈利為人民幣49.30分 5、 總資產為人民幣77,184.1百萬元 6、 權益總計為人民幣39,898.1百萬元 ...

证券简称：中海油服 证券代码：601808 公告编号：临2023-004 中海油田服务股份有限公司 关于召开 2022 年度业绩说明会的公告 特别提示 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： 中国大陆：400 810 8228（中文）或 400 810 8128 （英文） 中国香港：（852）3005 1355（中文）或（852）3005 1313（英文） 本公司拟于 2023 年 3 月 24 日在上海证券交易所网站（http://www.sse.com.cn）披 露本公司 2022 年年度报告。为了便于广大投资者更全面深入地了解本公司 2022 年年 度业绩和经营情况，本公司拟于 2023 年 3 月 24 日 10:00-11:00 召开业绩说明会，就 1 会议召开时间：2023年3月24日（星期五）10:00-11:00 会议召开地点：香港中环金钟道88号太古广场香格里拉酒店5层香岛殿B厅 会议召开方式：现场结合电话会议 电话会议拨入号码： 如投资者决定通过电话参加会议，请联系cosl@wsfg ...

Financial Performance - The company's operating revenue for Q3 2022 was RMB 9,033.1 million, representing a year-on-year increase of 26.4%[5] - Net profit attributable to shareholders for Q3 2022 was RMB 960.7 million, up 47.6% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2022 was RMB 964.6 million, reflecting a 55.6% increase year-on-year[5] - The basic earnings per share for Q3 2022 was RMB 0.20, an increase of 42.9% compared to the same period last year[6] - For the first three quarters of 2022, the company achieved a revenue of RMB 24,245.7 million, representing a year-on-year increase of 21.9%[13] - The net profit for the same period was RMB 2,113.2 million, with a year-on-year growth of 44.5%[13] - The total profit for Q3 2022 was CNY 2,639.95 million, up from CNY 2,003.01 million in Q3 2021, marking a significant increase[24] - The company's total revenue for the first three quarters of 2022 reached RMB 24.25 billion, up 22.4% from RMB 19.88 billion in the same period of 2021[22] Assets and Liabilities - The total assets at the end of the reporting period were RMB 75,328.8 million, a 2.8% increase from the end of the previous year[6] - As of September 30, 2022, total assets amounted to RMB 75.33 billion, an increase from RMB 73.31 billion at the end of 2021, reflecting a growth of approximately 2.77%[21] - The company's total liabilities reached RMB 35.66 billion, slightly up from RMB 35.10 billion, indicating a marginal increase in financial obligations[22] - The equity attributable to shareholders increased to RMB 39.09 billion from RMB 38.03 billion, reflecting a growth of approximately 2.8%[22] - Accounts receivable increased significantly to RMB 17.56 billion, up 67.0% from RMB 10.51 billion at the end of 2021[21] - Short-term borrowings rose sharply to RMB 6.03 billion, compared to RMB 2.23 billion at the end of 2021, indicating a significant increase in leverage[21] Operational Metrics - The number of drilling days increased to 12,326, a rise of 22.2% compared to the previous year[17] - The utilization rate for self-elevating drilling platforms reached 89.8%, up by 17.0 percentage points year-on-year[14] - The company's vessel service operations totaled 39,963 days, reflecting an 8.1% increase year-on-year[15] - The two-dimensional survey mileage was 2,353 kilometers, showing a year-on-year increase of 9.1%[16] - The three-dimensional survey area decreased to 11,351 square kilometers, a decline of 28.0% year-on-year[16] - The company reported a significant increase in seabed node collection operations, with a total of 648 square kilometers completed, up 43.0% year-on-year[16] Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was RMB -470.8 million, compared to RMB -797.5 million in the same period last year[6] - The net cash flow from operating activities for Q3 2022 was -470,801,409 RMB, a decrease from 67,489,506 RMB in Q3 2021[51] - Total cash inflow from operating activities was 19,844,168,372 RMB, compared to 17,566,957,706 RMB in the same period last year, representing an increase of approximately 13%[51] - Cash outflow for purchasing goods and services was 14,273,018,367 RMB, up from 12,398,311,072 RMB, indicating a rise of about 15%[51] - The net cash flow from investment activities was 4,120,647,423 RMB, significantly higher than 646,726,365 RMB in Q3 2021[51] - Cash inflow from financing activities was 5,364,161,900 RMB, with no inflow recorded in the same period last year[51] Shareholder Information - The company reported a total of 49,121 ordinary shareholders at the end of the reporting period[9] - The largest shareholder, China National Offshore Oil Corporation, holds 50.53% of the shares[9] Research and Development - The company is focusing on enhancing its R&D capabilities and transforming high technology into high value[17] - Research and development expenses for Q3 2022 were CNY 629.25 million, slightly down from CNY 648.84 million in Q3 2021[24] - The company is focusing on technological innovation and global market expansion to enhance operational efficiency and safety[39]

Financial Performance - In the first half of 2022, the company achieved operating revenue of RMB 15.2 billion, a 3.7% increase compared to RMB 14.5 billion in the same period of 2020[6]. - The net profit for the first half of 2022 was RMB 1.11 billion, reflecting a 35.1% increase from RMB 1.72 billion in the first half of 2020[6]. - The company’s operating profit for the first half of 2022 was RMB 1.27 billion, down 6.4% from RMB 2.22 billion in the first half of 2020[6]. - The company's revenue for the first half of 2022 was RMB 15,195.6 million, an increase of RMB 2,472.6 million, representing a growth of 19.4% year-on-year[13]. - Net profit for the first half of 2022 was RMB 1,108.4 million, up RMB 299.9 million, with a growth rate of 37.1% compared to the previous year[13]. - The total comprehensive income for the first half of 2022 was RMB 985.55 million, compared to RMB 811.46 million in the same period last year, indicating an increase of approximately 21.4%[74]. - Basic earnings per share for the first half of 2022 were RMB 0.2311, up from RMB 0.1680 in the same period of 2021[36]. - The company reported a profit of RMB 1,102,536 thousand for the six months ended June 30, 2022, compared to RMB 801,457 thousand for the same period in 2021, marking a year-on-year increase of approximately 37.5%[78]. Market Expansion and Contracts - The company has signed significant long-term drilling contracts in Saudi Arabia and expanded its service offerings in Malaysia and Indonesia, indicating successful international market expansion[9]. - The company has expanded its overseas market presence, successfully completing various projects in North America and Southeast Asia[18]. - The company has signed significant long-term drilling contracts in Saudi Arabia and won the largest logging project in Southeast Asia in Indonesia[194]. Technological Advancements - The company’s underwater release plug system, with complete independent intellectual property rights, has been successfully industrialized, breaking foreign monopolies[10]. - The company’s "Xuanji" system has achieved a one-time downhole success rate of 91.7%, highlighting its technological advancements[10]. - The company is focusing on technological innovation and has made significant progress in developing new technologies for oilfield services[18]. - The company has established a drilling digital center platform and officially launched information management tools for frontline use in the first half of 2022[199]. Operational Efficiency - The drilling services segment generated revenue of RMB 5,055.1 million, an increase of RMB 707.3 million, reflecting a growth of 16.3% year-on-year[14]. - The total operating days for drilling platforms reached 8,017 days, an increase of 1,439 days, representing a growth of 21.9% year-on-year[16]. - The utilization rate of self-elevating drilling platforms increased to 89.8%, up 18.0 percentage points from the previous year[16]. - The average daily revenue for self-elevating drilling platforms decreased to USD 7.1, down 6.6% from USD 7.6 in the previous year[17]. - The company has made significant progress in the recovery of operations for three semi-submersible platforms in Europe during the first half of 2022[199]. Financial Position and Investments - Total assets as of June 30, 2022, were RMB 73,738.4 million, an increase of 0.6% from RMB 73,311.7 million at the end of 2021[37]. - Cash and cash equivalents decreased to RMB 4,454.7 million by June 30, 2022, from RMB 5,006.4 million at the beginning of the year[39]. - The company’s net debt as of June 30, 2022, was RMB 28,487.7 million, compared to RMB 28,025.2 million as of December 31, 2021[62]. - The company’s long-term debt, including bank loans and bonds, rose to RMB 12,593,405 thousand from RMB 12,162,168 thousand, indicating an increase of about 3.6%[76]. - The company’s cash deposits in time deposits amounted to RMB 1,586,196 as of June 30, 2022, showing a slight increase from RMB 1,556,535 as of December 31, 2021[131]. Cost Management and Expenses - The company faced a 22.6% increase in operating expenses, totaling RMB 14,128.6 million, compared to RMB 11,526.7 million in the same period last year[26]. - Employee compensation costs rose by RMB 416.1 million or 16.8% year-on-year, attributed to increased operational volume and the resumption of platform operations[28]. - The company is focusing on cost reduction and efficiency improvement, with total operating expenses rising to RMB 14.13 billion from RMB 11.53 billion, an increase of approximately 22.5%[73]. Strategic Goals and Future Outlook - The company aims to enhance its core competitiveness by focusing on key technology breakthroughs and accelerating digital transformation[11]. - The company plans to promote green and low-carbon development, actively implementing carbon peak and carbon neutrality goals[11]. - The company anticipates a continued recovery in the oilfield services market driven by high oil prices and increased upstream exploration and development investments[47]. - The company plans to enhance its R&D capabilities and focus on key core technology breakthroughs in the second half of 2022[47]. - The company will closely monitor global economic conditions and oil prices to adapt its strategies accordingly[47]. Shareholder and Governance Information - Major shareholders included BlackRock, Inc. with approximately 6.12% and Allianz SE with approximately 5.17% of the company's H-shares[54]. - The company did not grant any rights to directors, supervisors, or senior management to benefit from purchasing shares or bonds during the six months ended June 30, 2022[55]. - There were changes in the board of directors, with the appointment of new independent non-executive directors in June and August 2022[57][58].

[Section I Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section defines common terms, specialized oilfield service terminology, large equipment characteristics, and operational metrics like utilization rates - The report defines common terms such as COSL and CNOOC, along with specialized oilfield service terminology including 2D/3D seismic exploration, logging while drilling (LWD), cementing, completion, and workover[9](index=9&type=chunk) - It also includes definitions and operational characteristics of large equipment like jack-up and semi-submersible drilling rigs, and operational metrics such as available day utilization and calendar day utilization[9](index=9&type=chunk)[10](index=10&type=chunk) [Section II Company Profile and Key Financial Indicators](index=5&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information and highlights its key financial performance and indicators [I. Company Information](index=5&type=section&id=%E4%B8%80%E3%80%81%E5%85%AC%E5%8F%B8%E4%BF%A1%E6%81%AF) This section provides basic information about China Oilfield Services Limited (COSL), including its Chinese and English names, legal representative, board secretary contact details, registered and office addresses, and stock profiles for A and H shares - Company Chinese Name: China Oilfield Services Limited, Abbreviation: COSL[11](index=11&type=chunk) - Company Legal Representative: Zhao Shunqiang[11](index=11&type=chunk) Company Stock Profile | Stock Type | Listing Exchange | Stock Abbreviation | Stock Code | | :------- | :--------------- | :----------- | :------- | | A-share | Shanghai Stock Exchange | COSL | 601808 | | H-share | The Stock Exchange of Hong Kong Limited | COSL | 02883 | [VII. Key Accounting Data and Financial Indicators](index=6&type=section&id=%E4%B8%83%E3%80%81%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2022, the company demonstrated strong financial performance with a **19.5%** increase in operating revenue, a **37.6%** rise in net profit attributable to shareholders, a **35.3%** growth in basic earnings per share, and a **0.8 percentage point** increase in weighted average return on net assets Key Accounting Data for H1 2022 (Unit: RMB million) | Key Accounting Data | Current Period (Jan-Jun) | Prior Period | Change from Prior Period (%) | | :----------------- | :----------------------- | :----------- | :--------------------------- | | Operating Revenue | 15,212.6 | 12,735.4 | 19.5 | | Net Profit Attributable to Shareholders of Listed Company | 1,102.5 | 801.5 | 37.6 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Gains and Losses) | 1,026.6 | 723.1 | 42.0 | | Net Cash Flow from Operating Activities | -2,088.0 | -1,887.2 | N/A | | Net Assets Attributable to Shareholders of Listed Company (End of Current Period) | 38,287.0 | 38,032.8 | 0.7 | | Total Assets (End of Current Period) | 73,738.4 | 73,311.7 | 0.6 | Key Financial Indicators for H1 2022 | Key Financial Indicators | Current Period (Jan-Jun) | Prior Period | Change from Prior Period (%) | | :----------------------- | :----------------------- | :----------- | :--------------------------- | | Basic Earnings Per Share (yuan/share) | 0.23 | 0.17 | 35.3 | | Diluted Earnings Per Share (yuan/share) | 0.23 | 0.17 | 35.3 | | Basic Earnings Per Share (Excluding Non-recurring Gains and Losses) (yuan/share) | 0.22 | 0.15 | 46.7 | | Weighted Average Return on Net Assets (%) | 2.87 | 2.07 | Increased by 0.8 percentage points | | Weighted Average Return on Net Assets (Excluding Non-recurring Gains and Losses) (%) | 2.67 | 1.86 | Increased by 0.8 percentage points | [VIII. Differences in Accounting Data Under Domestic and International Accounting Standards](index=7&type=section&id=%E5%85%AB%E3%80%81%E5%A2%83%E5%86%85%E5%A4%96%E4%BC%9A%E8%AE%A1%E5%87%86%E5%88%99%E4%B8%8B%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%B7%AE%E5%BC%82) The company believes there are no significant differences in net profit and net assets between financial reports prepared under Chinese Enterprise Accounting Standards and Hong Kong Financial Reporting Standards, thus no reconciliation is required - There are no significant differences in net profit or net assets between Chinese Enterprise Accounting Standards and Hong Kong Financial Reporting Standards, requiring no reconciliation[21](index=21&type=chunk) [IX. Non-recurring Gains and Losses Items and Amounts](index=7&type=section&id=%E4%B9%9D%E3%80%81%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) Total non-recurring gains and losses amounted to **75.92 million yuan**, primarily from wealth management product income and government subsidies, partially offset by non-current asset disposal losses Non-recurring Gains and Losses Items and Amounts (Unit: yuan) | Non-recurring Gains and Losses Item | Amount | | :-------------------------------- | :--------- | | Gains and losses from disposal, scrapping, and early termination of leases of non-current assets | -3,888,201 | | Government subsidies recognized in current profit and loss | 10,386,489 | | Reversal of impairment provisions for receivables and contract assets subject to separate impairment testing | 295,622 | | Other non-operating income and expenses apart from the above | 23,577,432 | | Other gains and losses meeting the definition of non-recurring gains and losses (income from wealth management products recognized in current profit and loss) | 57,782,452 | | Less: Income tax impact | 12,236,934 | | Total | 75,916,860 | [Section III Management Discussion and Analysis](index=8&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides a comprehensive discussion and analysis of the company's operational performance, financial condition, and future outlook [I. Description of Industry and Principal Business During the Reporting Period](index=8&type=section&id=%E4%B8%80%E3%80%81%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5%E8%AF%B4%E6%98%8E) In the first half of 2022, the global oil and gas industry recovered, with international oil prices rising, driving continuous growth in the oilfield services market, where the company strengthened its position through resource optimization and technological innovation [(I) Principal Businesses and Operating Model During the Reporting Period](index=8&type=section&id=%EF%BC%88%E4%B8%80%EF%BC%89%E6%8A%A5%E5%91%8A%E6%9C%9F%E5%86%85%E5%85%AC%E5%8F%B8%E4%BB%8E%E4%BA%8B%E7%9A%84%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E3%80%81%E7%BB%8F%E8%90%A5%E6%A8%A1%E5%BC%8F) The company's operations span the entire oil and gas exploration, development, and production lifecycle, offering geophysical, drilling,