Financial Performance - Sinopec Oilfield Service Corporation reported its annual financial results for 2023, ensuring the accuracy and completeness of the report[3]. - The company's operating revenue for 2023 reached RMB 79,980,939 thousand, an increase of 8.4% compared to RMB 73,772,688 thousand in 2022[11]. - Net profit attributable to shareholders for 2023 was RMB 589,216 thousand, reflecting a growth of 23.8% from RMB 475,898 thousand in the previous year[11]. - The net cash flow from operating activities increased by 32.9% to RMB 5,576,913 thousand in 2023, up from RMB 4,197,869 thousand in 2022[11]. - The total assets of the company at the end of 2023 were RMB 75,162,974 thousand, representing a 5.6% increase from RMB 71,208,061 thousand at the end of 2022[11]. - Basic earnings per share for 2023 were RMB 0.031, a 24.0% increase from RMB 0.025 in 2022[12]. - The weighted average return on net assets rose to 7.63% in 2023, an increase of 0.93 percentage points from 6.70% in 2022[12]. - The company reported a net profit of RMB 145,611 thousand in Q4 2023, with total operating revenue for the quarter at RMB 24,137,963 thousand[15]. - The company's net assets attributable to shareholders at the end of 2023 were RMB 8,023,202 thousand, an increase of 8.0% from RMB 7,429,734 thousand at the end of 2022[11]. - The company achieved consolidated operating revenue of RMB 79.8 billion, an increase of 8.4% year-on-year, marking the best performance since the 13th Five-Year Plan[22]. Market Expansion and Strategy - Sinopec is committed to expanding its market presence and exploring new technologies, including carbon capture, utilization, and storage (CCUS)[6]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[11]. - The company signed new contracts worth RMB 82.4 billion, an increase of RMB 1.4 billion compared to the previous year, with 112 contracts exceeding RMB 100 million each[24]. - The overseas market contributed RMB 16.7 billion in new contracts and RMB 16.09 billion in main business revenue, with year-on-year growth of 7.1% and 23.6% respectively[24]. - The company plans to sign new contracts exceeding RMB 83.5 billion in 2024, focusing on enhancing market share and operational efficiency[24]. - The company is actively developing new markets in geothermal, wind power, solar energy, hydrogen, and CCUS technologies[24]. Operational Efficiency and Innovations - The company aims to enhance operational efficiency through its "Four Improvements" strategy, focusing on quality, efficiency, speed, and production[6]. - The drilling team's annual footage increased from 17,900 meters to 21,100 meters, improving efficiency by 17.9%[24]. - The company generated RMB 5.6 billion in cost savings through comprehensive cost management initiatives[24]. - The company recorded a total of 20 major technological innovation achievements and received 20 provincial and ministerial-level awards in 2023[22]. - The company completed drilling of 10.98 million meters, with 31 wells exceeding 8,000 meters, contributing to the development of deep earth engineering[22]. Research and Development - The company applied for 1,004 patents in 2023, with 541 patents granted, and achieved a revenue of RMB 3.1 billion from technology commercialization[36]. - Research and development expenditures rose to RMB 2.08 billion, a 13.3% increase from RMB 1.84 billion, reflecting enhanced investment in high-tech enterprises[44]. - The company has a total of 3,991 employees with a master's degree or higher, reflecting a highly educated workforce[144]. Governance and Compliance - The company is committed to protecting the legal interests of shareholders and enhancing corporate governance[114]. - The company has maintained a consistent governance structure with no changes in the roles of key executives during the reporting period[119]. - The company has established a comprehensive environmental impact assessment system and did not experience any environmental pollution incidents in 2023[103]. - The independent non-executive directors constitute over one-third of the board, ensuring a diverse and independent governance structure[167]. - The company has implemented a term-based and contractual management system for its leadership, aligning with the operational goals for 2023[160]. Environmental Responsibility - The company invested RMB 124,916 million in environmental protection during the reporting period[190]. - The total waste generated in 2023 included 21,000 tons of general solid waste and 3,300 tons of hazardous waste, all disposed of in compliance with regulations[191]. - The comprehensive energy consumption per ten thousand yuan of industrial output decreased by 10% to 0.181 tons of standard coal in 2023[191]. - The company reduced carbon emissions by 1.217 million tons during the reporting period[194]. - The company has actively promoted the application of carbon dioxide-enhanced fracturing technology to reduce environmental emissions[195]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 12% to 15%[121]. - The company plans to complete 3,600 kilometers of 2D seismic acquisition and 15,000 square kilometers of 3D seismic acquisition in 2024[75]. - The company aims for an annual output value of over RMB 3.5 billion from new technology transformation and industrialization[82]. - The company plans to allocate capital expenditures of RMB 4 billion in 2024, with RMB 3.5 billion for fixed asset investments, including the upgrade of 21 drilling rigs and the purchase of 14 fracturing trucks[85].
中石化油服(01033) - 2023 - 年度财报