Financial Performance - Total revenue for 2024 reached RMB 81,096,178 thousand, a 1.4% increase from RMB 79,980,939 thousand in 2023[9] - Net profit attributable to shareholders for 2024 was RMB 631,606 thousand, up 7.2% from RMB 589,216 thousand in 2023[10] - Basic earnings per share for 2024 was RMB 0.033, representing a 6.5% increase compared to RMB 0.031 in 2023[12] - Operating profit for 2024 was RMB 1,036,512 thousand, reflecting a 15.2% increase from RMB 899,969 thousand in 2023[10] - The company reported a pre-tax profit of RMB 1,121,548 thousand for 2024, which is a 22.0% increase from RMB 915,207 thousand in 2023[9] - The company’s net profit under International Financial Reporting Standards is RMB 620.631 million for the year ended December 31, 2024, compared to RMB 576.083 million for the year ended December 31, 2023, indicating a growth of 7.7%[15] - The company’s total comprehensive income for 2024 was RMB 638,824,000, compared to RMB 606,602,000 in 2023, indicating an increase of 5.3%[195] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 77,340,105 thousand, a 2.9% increase from RMB 75,162,974 thousand in 2023[10] - The company's total liabilities increased to RMB 68,691,303 thousand as of December 31, 2024, from RMB 67,139,772 thousand in 2023, marking a rise of 2.3%[115] - The company’s total current assets increased to RMB 43,334,968 thousand in 2024 from RMB 39,325,415 thousand in 2023, representing a growth of about 10.2%[184] - Cash and cash equivalents rose to RMB 3,441,398, up from RMB 2,788,798 in 2023, showing an increase of 23.4%[113] Shareholder Information - The total number of shareholders as of December 31, 2024, is 107,938, with 107,621 being domestic A-share shareholders and 317 being overseas H-share registered shareholders[18] - The top shareholder, China Petroleum & Chemical Corporation, holds 9,968,726,364 shares, accounting for 52.52% of total shares, having decreased by 759,170,000 shares during the reporting period[19] - The company has a total of 18,979,412,033 shares outstanding after a reduction of 4,928,000 shares during the reporting period[17] - The company did not declare any dividends for the years ended December 31, 2024, and 2023[171] Operational Highlights - The company’s main business includes oil and petrochemical operations, drilling services, and engineering construction services[23] - The company plans to continue its market expansion and product development strategies in the upcoming fiscal year[32] - The company is focusing on technological innovation and optimizing resources to reduce costs and enhance operational efficiency[44] - The company signed new contracts totaling RMB 91.2 billion in 2024, a year-on-year increase of 10.7%, achieving a historical high[46] Research and Development - The company applied for 1,034 patents, including 9 foreign patents, and received 15 provincial and ministerial scientific and technological awards[54] - The company’s research expenses for the year were RMB 2,247,111, compared to RMB 2,083,796 in 2023, reflecting an increase of 7.9%[111] Related Party Transactions - The company engaged in significant related party transactions, including procurement of raw materials and equipment from Sinopec Group amounting to RMB 9.575 billion, representing 30.5% of similar transactions[88] - The company’s independent non-executive directors reviewed related party transactions and confirmed they were conducted under normal business terms[91] - The company has signed a new framework agreement with Sinopec Group for ongoing related party transactions, which has been approved by the board and independent shareholders[89] Future Outlook - The company plans to sign new contracts worth RMB 83.5 billion in 2025, with RMB 49.5 billion from the internal market of Sinopec Group and RMB 18.8 billion from overseas markets[73] - The company aims to enhance the efficiency of fracturing operations by 5% in 2025, focusing on high-efficiency development projects[77] - The company is focusing on the development of green low-carbon and new energy businesses, anticipating favorable conditions for the oil service industry in the coming years[72]
中石化油服(01033) - 2024 - 年度业绩