2018-08-28 16:00Financial Performance - The company reported a half-year financial report for 2018, which was approved by the board of directors[4]. - The company's operating revenue for the current reporting period reached RMB 23,653,002 thousand, representing a 19.2% increase compared to RMB 19,842,318 thousand in the same period last year[23]. - The net profit attributable to shareholders of the listed company was RMB 400,949 thousand, a significant recovery from a loss of RMB 2,285,324 thousand in the previous year[23]. - The weighted average return on equity increased to 8.99%, up 40.29 percentage points from -31.30% in the same period last year[24]. - The company's gross profit margin for its main business was 5.9% in the first half of 2018, reflecting improved operational efficiency[40]. - The company's total comprehensive income for the current period was RMB 400,949 thousand, recovering from a loss of RMB 2,285,356 thousand in the previous period[175]. - Basic and diluted earnings per share improved to RMB 0.02, compared to a loss of RMB -0.16 in the previous period[175]. Cash Flow and Assets - The company reported a net cash flow from operating activities of RMB -3,515,042 thousand, worsening from RMB -1,988,314 thousand in the previous year[27]. - The company's cash and cash equivalents decreased to RMB 2,223,739 thousand from RMB 2,537,894 thousand, a decline of about 12.38%[166]. - The company reported a net increase in cash and cash equivalents of RMB 2,212,205 thousand at the end of the first half of 2018, compared to RMB 2,014,515 thousand at the end of the previous year[93]. - The net cash flow from financing activities was RMB 6,518,982 thousand, an increase from RMB 3,038 thousand in the previous period[187]. - The total assets at the end of the reporting period were RMB 60,153,882 thousand, a decrease of 2.9% from RMB 61,942,629 thousand at the end of the previous year[27]. - The company's total liabilities decreased to RMB 54,004,436 thousand from RMB 64,046,629 thousand, representing a reduction of approximately 15.66%[169]. Business Operations - The company operates in over 20 provinces and 34 countries, executing 319 projects, indicating a strong international presence[30]. - The company has five major business segments, covering the entire oil and gas service industry chain from exploration to production[30]. - The company signed new contracts worth RMB 351 billion in the first half of 2018, a year-on-year increase of 58%[42]. - The company's international business revenue was RMB 6,138,476 thousand, accounting for 26.0% of total revenue, with new contracts signed worth USD 1.76 billion, a 134.7% increase year-on-year[49]. - The company completed 12,843 kilometers of 2D seismic work, an increase of 89.8% year-on-year, and 7,269 square kilometers of 3D seismic work, an increase of 9.7%[43]. Research and Development - The company applied for 262 new patents and received 151 patent authorizations in the first half of 2018, enhancing its R&D capabilities[50]. - Research and development expenses surged to RMB 240,196 thousand, marking a 369.7% increase year-on-year due to intensified technology project deployment[54]. - The company has made significant advancements in technology, including the successful completion of the national 863 project on natural gas hydrate drilling technology, which is now at an international leading level[51]. Shareholder Information - The total number of shareholders was 144,151, with 143,809 domestic A-share shareholders and 342 overseas H-share shareholders[144]. - China Petroleum Group Company holds 10,727,896,364 shares, accounting for 56.51% of total shares[145]. - The total number of shares held by the top ten unrestricted shareholders is 9,224,327,662 for A shares and 2,806,150,991 for H shares[146]. - The company did not purchase, sell, or repurchase any of its listed shares during the reporting period[152]. Corporate Governance and Compliance - The company has maintained compliance with commitments regarding related party transactions and independence from its controlling shareholder[109]. - The company has not experienced any bankruptcy reorganization matters during the reporting period[108]. - The company has not changed its accounting firm during the reporting period, continuing with the same auditors for 2018[106]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange regulations[135]. Environmental and Social Responsibility - The company disposed of 21.1 million tons of solid waste and 15,000 tons of oil-based cuttings in compliance with regulations during the first half of 2018[132]. - The company has implemented advanced technologies to reduce energy consumption and pollutant emissions, including the use of electric drilling rigs and biodegradable drilling mud[132]. - The company established an environmental emergency management system and conducted regular training and drills[133].