Core Viewpoint - CNOOC Services reported a mixed performance in its interim results, with revenue growth but a decline in oil service income, leading to a stock price drop of over 4% following the announcement [1] Financial Performance - The company achieved revenue of 23.32 billion RMB, an increase of 3.51% year-on-year [1] - Profit attributable to shareholders was 1.964 billion RMB, reflecting a year-on-year increase of 23.33% [1] - Basic earnings per share were 0.4116 RMB [1] Oil Service Segment - Oil service income decreased by 3.5% year-on-year to 12.38 billion RMB, with operating profit margin remaining stable at 17% [1] - The number of oil service orders for the parent company may have slightly decreased year-on-year [1] Drilling Operations - The company's drilling operating profit significantly recovered compared to 2024, with an operating profit margin increase of 4 percentage points to 9% [1] - The number of operating days in the second quarter increased by 11% year-on-year to 5,017 days, with semi-submersible usage days rising by 12% and a 2% increase quarter-on-quarter [1] Future Outlook - The impact of drilling suspensions in the Middle East is expected to have largely dissipated from the second half of 2024 to the first half of 2025 [1] - Contracts in Southeast Asia and Brazil are anticipated to yield higher day rates and profits [1]

Core Viewpoint - CNOOC Services (02883) experienced a decline of over 4% following the release of its interim results, with shares trading at HKD 7.4 and a transaction volume of HKD 118 million [1] Financial Performance - The company reported revenue of RMB 23.32 billion for the period, representing a year-on-year increase of 3.51% [1] - Profit attributable to shareholders was RMB 1.964 billion, reflecting a year-on-year increase of 23.33% [1] - Basic earnings per share were reported at 41.16 cents [1] Segment Analysis - According to CICC's report, oil technical service revenue decreased by 3.5% year-on-year to RMB 12.38 billion, with the operating profit margin remaining stable at 17% [1] - The company's drilling operating profit showed a significant recovery compared to 2024, with the operating profit margin increasing by 4 percentage points to 9% [1] - The number of operating days in the second quarter increased by 11% year-on-year to 5,017 days, with semi-submersible usage days rising by 12% and a 2% increase quarter-on-quarter [1] Future Outlook - CICC anticipates that the impact of drilling suspensions in the Middle East will have largely dissipated from the second half of 2024 to the first half of 2025 [1] - Contracts in Southeast Asia and Brazil are expected to yield higher day rates and profits for the company [1]

Group 1 - The core viewpoint of the article is that CNOOC Services (601808.SH) has been given a "buy" rating by Xinda Securities due to its strong performance in the first half of the year, driven by its drilling business [1] - The company reported a year-on-year increase in both revenue and profit, primarily attributed to contributions from its drilling operations [1] - Continuous investment in research and development, along with technological innovation, has enhanced the company's competitiveness in the market [1] Group 2 - The pet industry is experiencing significant growth, with a market size of 300 billion yuan, leading to a surge in stock prices for related listed companies [1]

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 23.32 billion yuan for the first half of 2025, representing a year-on-year increase of 3.5%. The net profit attributable to shareholders was 1.964 billion yuan, up 23.4% year-on-year, with a basic earnings per share of 0.41 yuan, reflecting a 24.2% increase year-on-year [2][3] - The growth in revenue and profit is primarily driven by the drilling business, with significant contributions from high-day-rate projects in the North Sea region of Norway and increased operational workload [4] - The company is expected to maintain high utilization rates for its platforms and potentially increase day rates in the second half of the year due to the resumption of contracts in the Middle East and ongoing operations in South America [4] - Continuous investment in research and development, along with technological innovations, is enhancing the company's competitiveness, with high-tech products entering industrialization and brand development phases [4] - Profit forecasts for 2025-2027 indicate net profits of 4.015 billion, 4.384 billion, and 4.734 billion yuan, with corresponding growth rates of 28.0%, 9.2%, and 8.0% respectively [4] Financial Summary - For the first half of 2025, the company achieved a gross margin of 12.92% for drilling, 23.98% for oil services, -2.18% for geophysical services, and 8.12% for shipping, showing improvements across all segments [4] - The company’s revenue is projected to grow from 44.109 billion yuan in 2022 to 60.306 billion yuan by 2027, with a compound annual growth rate of approximately 5.3% [5] - The earnings per share (EPS) is expected to increase from 0.63 yuan in 2022 to 0.99 yuan by 2027, reflecting a positive trend in profitability [5][7]

Group 1 - The company reported a revenue of 23.32 billion yuan for the first half of 2025, representing a year-on-year growth of 3.5% [1] - The net profit attributable to shareholders reached 1.964 billion yuan, showing a year-on-year increase of 23.3% [1] - The net profit excluding non-recurring items was 1.939 billion yuan, which is a year-on-year growth of 20.9% [1] - The basic earnings per share stood at 0.41 yuan [1]

（原标题：中海油服：上半年净利润19.64亿元 同比增长23.33%） 人民财讯8月26日电，中海油服(601808)8月26日晚间披露半年报，公司2025年上半年实现营业收入233.2 亿元，同比增长3.5%；归属于母公司所有者的净利润19.64亿元，同比增长23.33%；基本每股收益0.41 元。 ...

Core Insights - CNOOC Services (601808.SH) reported a revenue of 23.32 billion yuan for the first half of 2025, reflecting a year-on-year growth of 3.5% [1] - The net profit attributable to shareholders reached 1.963 billion yuan, marking a year-on-year increase of 23.3% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.939 billion yuan, showing a year-on-year growth of 20.9% [1] - Basic earnings per share stood at 0.41 yuan [1]

Group 1 - The company vice-chairman, Ms. Wang Jili, plans to reduce her shareholding by up to 723,000 shares, representing 0.07% of the total share capital, within a three-month period from September 12, 2025, to December 11, 2025 [1][2] - Ms. Wang currently holds 2,894,517 shares, which accounts for 0.28% of the company's total share capital [1][2] - The share reduction will be conducted through centralized bidding and is in compliance with the company's commitment to limit annual share transfers to no more than 25% of her total holdings while ensuring no violations of commitments [1][2] Group 2 - Ms. Wang does not fall under any restrictions outlined in the Shenzhen Stock Exchange's guidelines regarding share reductions by shareholders and executives [2] - The implementation of the share reduction plan is subject to market conditions and the company's stock price, indicating potential uncertainties regarding the timing and pricing of the reduction [2]

海油发展（SH 600968，收盘价：3.94元）8月19日晚间发布半年度业绩报告称，2025年上半年营业收入 约225.97亿元，同比增加4.46%；归属于上市公司股东的净利润约18.29亿元，同比增加13.15%；基本每 股收益0.18元，同比增加13.15%。 （文章来源：每日经济新闻） ...

转自：智通财经 【海油发展：上半年净利润18.29亿元 同比增长13.15%】智通财经8月19日电，海油发展(600968.SH)公 告称，海油发展发布2025年半年度报告，上半年实现营业收入225.97亿元，同比增长4.46%；归属于上 市公司股东的净利润为18.29亿元，同比增长13.15%。报告期不进行利润分配或资本公积金转增股本。 ...