CPEC(SH:600339) Quan Jing Wang·2025-10-31 06:30Core Viewpoint - China Petroleum Engineering Corporation (CPE) reported a steady growth in revenue and profit for the first three quarters of 2025, indicating a strong operational performance and successful continuation of its positive development trend from the first half of the year [1] Financial Performance - CPE achieved an operating revenue of 57.529 billion yuan, a year-on-year increase of 12.42% [1] - The net profit attributable to shareholders was 523 million yuan, maintaining a robust operational profitability level [1] - The comprehensive gross profit for the first half of 2025 reached 2.906 billion yuan, an increase of 41 million yuan compared to the previous year, marking the highest level in five years for the same period [2] Operational Efficiency - The company has focused on improving quality and efficiency while maintaining stable operations, resulting in significant operational achievements [2] - Cash flow management has been enhanced, with net cash flow from operating activities increasing by 5.520 billion yuan year-on-year [2] - The number of executed projects reached 9,560, with 2,109 completed, showcasing high-quality delivery of major energy projects [2][3] Business Expansion - CPE is actively expanding into new energy and high-end new materials sectors, achieving positive progress in these emerging businesses [3] - The company is also advancing into cutting-edge fields such as controllable nuclear fusion engineering, forming a "third" growth curve [3] - CPE has signed new contracts totaling 99.216 billion yuan in 2025, with the largest single project exceeding 10 billion yuan, ensuring ample project resources for future development [4][5] Market Performance - In the domestic market, new contracts signed in the first three quarters amounted to 73.952 billion yuan, accounting for 74.54% of the total new contracts [5] - In the international market, new contracts reached 25.264 billion yuan, representing 25.46% of the total, with significant projects signed with TotalEnergies [6] Technological Innovation - CPE has made notable advancements in technology innovation, with 124 research achievements formed and 105 new patents granted in 2025 [7][8] - The company has implemented 30 AI application scenarios in engineering projects, enhancing its research and management capabilities [8] - CPE aims to integrate technological innovation with industrial development, focusing on sustainable growth and high-quality operational models [8]