Zheng Quan Zhi Xing·2025-08-27 10:29Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, attributed to external pressures and fluctuating international oil prices, while maintaining a focus on increasing reserves and production through technological innovation and green transformation [7][13]. Financial Performance - Revenue for the first half of 2025 was RMB 207.6 billion, a decrease of 8% compared to RMB 226.8 billion in the same period last year [12]. - Total profit was RMB 94.7 billion, down 11% from RMB 105.8 billion year-on-year [12]. - Net profit attributable to shareholders was RMB 69.5 billion, reflecting a 13% decline from RMB 79.7 billion [12]. - The company declared an interim dividend of HKD 0.73 per share [2]. Operational Highlights - The company achieved a net production of 384.6 million barrels of oil equivalent, an increase of 6.1% year-on-year, with significant growth in natural gas production by 12% [13]. - New oil and gas discoveries were made in Chinese waters, including five new finds, enhancing the company's exploration portfolio [7][13]. - The company successfully launched several major projects, including the Buzios 7 and Mero 4 projects in Brazil, contributing to production growth [7][13]. Technological and Environmental Initiatives - The company emphasized technological innovation, achieving breakthroughs in geophysical exploration and enhancing production efficiency through smart technologies [8][14]. - Efforts in green transformation included the implementation of the first offshore CCUS project in China and the promotion of clean energy initiatives [8][15]. Strategic Outlook - The company aims to maintain strategic focus and confidence in achieving annual targets despite external challenges, with plans to enhance shareholder returns and continue building a world-class energy company [9][13].