CNOOC EnerTech(SH:600968)2025-04-09 15:10Financial Performance - The company's operating revenue for 2024 reached ¥52.52 billion, an increase of 6.51% compared to ¥49.31 billion in 2023[25]. - The net profit attributable to shareholders for 2024 was ¥3.66 billion, representing an 18.66% increase from ¥3.08 billion in 2023[25]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥3.80 billion, up 32.89% from ¥2.86 billion in 2023[25]. - The total assets of the company at the end of 2024 were ¥49.50 billion, a 10.24% increase from ¥44.91 billion at the end of 2023[25]. - The net assets attributable to shareholders increased by 10.29% to ¥27.16 billion at the end of 2024 from ¥24.63 billion at the end of 2023[25]. - The company achieved an operating revenue of 52.517 billion RMB in 2024, representing a year-on-year growth of 6.51%[35]. - The net profit attributable to shareholders was 3.656 billion RMB, with a basic earnings per share of 0.3597 RMB, both reflecting an 18.66% increase compared to the previous year[35]. - The weighted average return on equity rose to 14.11%, an increase of 0.98 percentage points from the previous year[27]. - The diluted earnings per share remained at 0.3597 RMB, consistent with the basic earnings per share, indicating stable performance[26]. Cash Flow and Dividends - The net cash flow from operating activities decreased by 28.28% to ¥5.55 billion in 2024 from ¥7.74 billion in 2023[25]. - The company plans to distribute a cash dividend of ¥1.35 per 10 shares, totaling approximately ¥1.37 billion, which accounts for 37.53% of the net profit attributable to shareholders for 2024[5]. - The company reported a net cash flow from operating activities of 3.896 billion RMB in the fourth quarter, showing significant improvement[28]. - The company plans to distribute cash dividends amounting to ¥1,372,289,066.87, which represents 37.53% of the net profit attributable to ordinary shareholders in the consolidated financial statements[159]. Operational Highlights - The energy technology service sector generated 21.733 billion RMB in revenue, marking a 15.12% increase year-on-year[36]. - The company reported a 15.45% increase in the workload of downhole tools, a 6.27% increase in artificial lift services, and a 16.75% increase in oilfield chemical services[36]. - The low-carbon and digital industry achieved revenue of 10.06 billion yuan, a year-on-year increase of 0.91%[37]. - The energy logistics service industry generated revenue of 23.21 billion yuan, with a year-on-year growth of 0.60%[38]. - The company is focusing on enhancing core capabilities in oil and gas production, with new technology applications and service expansions supporting growth[36]. Research and Development - Research and development expenses decreased by 15.14% year-on-year to approximately RMB 986.08 million, focusing on quality and efficiency in major projects[62]. - The total R&D investment reached 986,999,890.47 RMB, which is 1.88% of the operating revenue[79]. - The number of R&D personnel is 2,437, making up 17.04% of the total workforce[80]. - The company is investing $50 million in research and development for new technologies aimed at enhancing operational efficiency[128]. Environmental Responsibility - The company invested 86.11 million yuan in environmental protection during the reporting period[169]. - The company reported a chemical oxygen demand discharge of 0.05 tons and ammonia nitrogen discharge of 0.004 tons from one of its key pollutant discharge units[171]. - The company’s hazardous waste discharge includes 1242.49 tons of HW09 hazardous waste from one of its units[171]. - The company has received recognition as a "Green Card Enterprise" for environmental integrity from the Zhanjiang municipal government[190]. - The company reduced carbon emissions by 24,573 tons during the reporting period through various decarbonization measures[191]. Governance and Management - The board of directors held 7 meetings during the reporting period, ensuring compliance with relevant regulations[118]. - The supervisory board conducted 6 meetings, providing oversight on major company decisions and maintaining shareholder interests[119]. - The company has established mechanisms to prevent the controlling shareholder from misusing company funds, ensuring independence[120]. - The company has established a relatively complete corporate governance system, with clear responsibilities and standardized operations for the board of directors and committees[167]. Future Outlook and Strategy - The company aims to enhance core functions and competitiveness by focusing on energy technology services and accelerating the development of green, low-carbon, and digital businesses[109]. - The company plans to complete its "14th Five-Year" development tasks by 2025, emphasizing the optimization of industrial layout and the cultivation of new industries[111]. - Future guidance indicates a focus on sustainability initiatives, with a commitment to reduce carbon emissions by 15% over the next three years[129]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[129].