Chang Jiang Shang Bao·2025-09-14 23:21Core Viewpoint - Sinopec Oilfield Service Corporation (石化油服) has secured significant contracts, indicating strong growth in both domestic and international markets, with a focus on technological innovation and research investment [1][4][11]. Group 1: Contract Wins and Financial Performance - On September 12, 2025, Sinopec Oilfield Service announced that its subsidiary won a contract worth 858 million yuan for a natural gas pipeline project, which represents approximately 1.06% of the company's projected revenue for 2024 [1][4]. - In the first half of 2025, the company signed new contracts totaling 63.67 billion yuan, marking a 3.2% year-on-year increase, with overseas contracts contributing 19.62 billion yuan, a 71.8% increase compared to the previous year [2][7]. - The company has shown consistent revenue and profit growth since 2021, with net profit increasing from 180 million yuan in 2021 to 632 million yuan in 2024, and further rising to 492 million yuan in the first half of 2025 [3][13]. Group 2: Research and Development - Sinopec Oilfield Service has invested over 20 billion yuan annually in research and development for the past two years, with total R&D investment exceeding 92 billion yuan from 2020 to 2024 [2][11]. - The company has applied for 540 patents in the first half of 2025, including 341 invention patents, showcasing its commitment to technological advancement [12]. - The company has developed key technologies, such as the "Idrilling" system, which has improved drilling efficiency, reducing average drilling time by 12.7% and increasing drilling speed by 19.4% [12][13]. Group 3: Market Expansion - Sinopec Oilfield Service operates in over 20 provinces in China and provides services in 29 countries and regions internationally, highlighting its extensive market reach [2][11]. - The revenue from overseas markets is becoming increasingly significant, accounting for 25.04% of total revenue in the first half of 2025, up from 20.12% in 2023 [9][10].