Ge Long Hui·2025-10-30 02:51Core Viewpoint - Bank of America reports that CNOOC's net profit for the first three quarters is 3.21 billion yuan, a year-on-year increase of 31% [1] Financial Performance - The net profit for the third quarter is 1.246 billion yuan, representing a year-on-year increase of 46% and a quarter-on-quarter increase of 16%, outperforming expectations [1] - Revenue for the third quarter is 11.5 billion yuan, showing a year-on-year increase of 4% but a quarter-on-quarter decrease of 8%, in line with expectations [1] - The slowdown in revenue growth is primarily due to a deceleration in the expansion of oil well services [1] Service Contribution - The contribution from drilling services has rapidly increased, mainly benefiting from high day rates from North Sea contracts and improved utilization rates of drilling platforms [1] Target Price Adjustment - Bank of America raises the target price for CNOOC from 8 HKD to 8.2 HKD, maintaining a "neutral" rating [1]