Core Viewpoint - Hongtian Co., Ltd. is a company engaged in the research, production, and sales of drilling equipment for oil, natural gas, and shale gas, with a certain level of technical strength in the industry [1] Group 1: Business Performance - In Q3 2025, Hongtian Co., Ltd. reported revenue of 881 million yuan, ranking 29th out of 58 in the industry, with the industry leader Zhongchuang Zhiling achieving 30.745 billion yuan [2] - The net profit for the same period was 75.724 million yuan, also ranking 29th in the industry, with the top performer Tian Di Technology earning 3.525 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 62.79%, down from 71.95% year-on-year, which is higher than the industry average of 46.18% [3] - The gross profit margin for Q3 2025 was 25.17%, an increase from 22.27% year-on-year, but slightly below the industry average of 26.77% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 53.23% to 20,300, while the average number of circulating A-shares held per shareholder decreased by 34.74% to 10,200 [5] - Among the top ten circulating shareholders, Yongying Semiconductor Industry Smart Selection Mixed Fund became a new shareholder with 5.6 million shares, while Guotai Junan Jin Ying Growth Flexible Allocation Mixed Fund increased its holdings by 252,400 shares [5] Group 4: Executive Compensation - The chairman Zhao Weibin's salary for 2024 remained at 100,000 yuan, unchanged from 2023, while the general manager Zhu Kaixing's salary increased by 221,100 yuan to 1.1478 million yuan [4]

Core Viewpoint - CNOOC Services, established in 2001 and listed in 2007, is one of the largest integrated oilfield service providers globally, covering all stages of oil and gas exploration, development, and production, with a rare full industry chain service capability [1] Financial Performance - In Q3 2025, CNOOC Services achieved a revenue of 34.854 billion yuan, ranking 2nd in the industry, surpassing the industry average of 16.033 billion yuan and the median of 1.866 billion yuan; the top competitor, Sinopec Oilfield Services, reported a revenue of 55.163 billion yuan [2] - The net profit for the same period was 3.391 billion yuan, ranking 1st in the industry, exceeding the industry average of 0.933 billion yuan and the median of 0.252 billion yuan; the second-ranked competitor, CNOOC Development, reported a net profit of 2.925 billion yuan [2] Financial Ratios - As of Q3 2025, the debt-to-asset ratio for CNOOC Services was 44.26%, lower than the previous year's 46.83% and below the industry average of 60.32%, indicating strong solvency [3] - The gross profit margin for the same period was 18.20%, up from 17.24% year-on-year and above the industry average of 17.03%, reflecting strong profitability [3] Shareholder Information - As of June 30, 2014, the number of A-share shareholders increased by 0.49% to 98,600, with an average holding of 30,000 circulating A-shares, up by 1.23% [5] - As of September 30, 2025, the top ten circulating shareholders included China Securities Finance Corporation with 138 million shares, unchanged, and other notable shareholders with varying changes in holdings [5] Business Highlights - The drilling segment remains robust, with increased operational volume and utilization rates expected to continue rising [6] - The oilfield technical services segment has shown consistent growth, becoming a core business that is likely to drive stable development [6] - The shipping segment has seen significant improvement, while the geophysical exploration business is undergoing adjustments, with future performance expected to improve [6] - CNOOC's capital expenditure remains high, which may lead to more development opportunities due to increased global oil and gas production [6]