Ge Long Hui·2025-08-27 08:57Core Viewpoint - The company is focusing on its oil and gas core business amidst challenging external conditions and fluctuating international oil prices, aiming to strengthen its development foundation through increased reserves and production, technological innovation, green transformation, and operational efficiency [1] Financial Performance - Oil and gas sales revenue reached RMB 171.7 billion, a year-on-year decrease of 7% [1] - Net profit attributable to shareholders was RMB 69.5 billion, down 13% year-on-year [1] - Basic earnings per share stood at RMB 1.46 [1] Exploration and Production Achievements - The company has made significant progress in increasing reserves and production, with new oil and gas discoveries in the Chinese sea, including five new finds such as Jinzhou 27-6 [1] - Successful evaluation of large and medium-sized oil and gas structures, including Qinhuangdao 29-6, and steady growth in unconventional natural gas reserves on land [1] - Continued deepwater exploration in Guyana and the signing of a new oil exploration contract in Kazakhstan, expanding overseas exploration potential [1] Project Development and Production Growth - Major project developments have led to record high oil and gas production, with successful launches of projects like Bohai Zhong 26-6 and Brazil's Buzios 7 and Mero 4 [1] - The second phase of the "Deep Sea No. 1" project has been fully launched, with continuous improvement in reserve utilization and recovery rates [1] - The company's net production reached 384.6 million barrels of oil equivalent, with a significant 12% increase in natural gas production, surpassing historical levels both domestically and internationally [1]