中海油服(601808)季报点评:海外高日费合同兑现 Q3归母净利润大幅增长
Ge Long Hui·2025-10-30 19:55

Core Viewpoint - The company reported a significant increase in net profit for Q3 2025, exceeding market expectations, driven by high utilization rates of drilling platforms and reduced financial interest expenses [1]. Group 1: Financial Performance - In Q3 2025, the company's operating revenue reached 11.5 billion yuan, a year-on-year increase of 3.6% [1]. - The net profit attributable to shareholders was 1.25 billion yuan, representing a year-on-year growth of 46% [1]. Group 2: Drilling Platform Operations - The total operating days for drilling platforms in Q3 2025 were 4,878 days, an increase of 16% year-on-year but a decrease of 3% quarter-on-quarter [1]. - Semi-submersible drilling platforms saw a 59% year-on-year increase in operating days, while self-elevating platforms experienced an 8% year-on-year increase [1]. - Utilization rates for self-elevating and semi-submersible platforms were 92.8% and 87.4%, respectively, reflecting increases of 7.9 percentage points and 25.4 percentage points year-on-year [1]. Group 3: Oilfield Technology Services - The company is focused on enhancing its technology-driven capabilities, aiming to develop a core technology system driven by fundamental research [1]. - The oilfield technology services segment maintained year-on-year growth in operating volume for the first three quarters of 2025 [1].