Core Viewpoint - The company reported a steady growth in revenue and net profit for the first half of 2025, indicating improved operational quality despite challenges in the international oil market [4][5]. Financial Performance - In H1 2025, the company achieved total revenue of 22.6 billion yuan, a year-on-year increase of 4.5%, and a net profit attributable to shareholders of 1.83 billion yuan, up 13.1% year-on-year [4]. - For Q2 2025, the company recorded a revenue of 12.5 billion yuan, a year-on-year increase of 0.78% and a quarter-on-quarter increase of 24.3%, with a net profit of 1.235 billion yuan, reflecting a year-on-year growth of 10.75% and a quarter-on-quarter growth of 107.97% [4]. Operational Insights - The company’s net profit growth of 13% in H1 2025 is attributed to its focus on core operations and the successful implementation of policies aimed at increasing reserves and production [5]. - The average Brent crude oil price in H1 2025 was $70.81 per barrel, down 15.1% year-on-year, with Q2 prices dropping to $66.71 per barrel, a decrease of 21.5% year-on-year [5]. Business Segments Performance - In H1 2025, the energy technology services segment generated revenue of 7.993 billion yuan, a growth of 2.79%, while the low-carbon environmental and digitalization segment saw revenue of 3.870 billion yuan, up 11.17% [6]. - The energy logistics services segment achieved revenue of 11.64 billion yuan, reflecting a year-on-year increase of 5.13% [6]. Cost Management and Efficiency - The company improved its gross margin to 15.33%, an increase of 1.18 percentage points year-on-year, through effective cost control measures [7]. - The company is advancing the transformation of traditional industries towards high-end, intelligent, and green solutions, launching ten digital management modules [8]. Industry Outlook - The global oilfield services market is expected to grow to $326.5 billion in 2025, a year-on-year increase of 3.3%, driven by rising oil supply and energy security demands [9]. - The parent company, China National Offshore Oil Corporation (CNOOC), is actively pursuing a seven-year action plan to increase oil and gas reserves and production, with targeted growth rates of 5.9%, 2.6%, and 3.8% for 2025-2027 [9].

Group 1 - The Shanghai Composite Index rose by 1.04%, closing at 3766.21 points, while the Hang Seng Index increased by 0.17%, closing at 25165.94 points [1] - Sinopec Oilfield Service Corporation (SSC) has an A/H premium of 180.2%, ranking fifth among A/H shares [1] - SSC's A-shares closed at 2.06 yuan, with a gain of 1.48%, while its H-shares closed flat at 0.8 Hong Kong dollars [1] Group 2 - SSC is a major integrated oil and gas engineering and technical service company controlled by China Petroleum & Chemical Corporation, with over 60 years of operational experience [1] - The company was formed through the restructuring of various oilfield enterprises under China Petroleum & Chemical Corporation in June 2012 [1] - SSC was listed simultaneously in Shanghai and Hong Kong in 2014, with stock codes SH600871 and HK1033 [1]

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company achieved a 13% year-on-year growth in net profit attributable to shareholders in H1 2025, driven by cost reduction and efficiency enhancement alongside industrial transformation [1][6] - The company reported total revenue of 22.6 billion yuan in H1 2025, a 4.5% increase year-on-year, with a net profit of 1.83 billion yuan, reflecting a 13.1% growth [1][6] - The report highlights the company's focus on core business areas and its proactive approach to seizing opportunities in resource expansion and production [6][9] Summary by Sections Financial Performance - In Q2 2025, the company recorded a total revenue of 12.5 billion yuan, up 0.78% year-on-year and 24.3% quarter-on-quarter, with a net profit of 1.235 billion yuan, marking a 10.75% increase year-on-year and a 107.97% increase quarter-on-quarter [1][5] - The company’s annualized ROE for H1 2025 was 13.4%, an increase of 0.4 percentage points year-on-year, while the cost-to-profit ratio improved to 9.2%, up 0.7 percentage points year-on-year [6] Business Segments - The energy technology service segment generated 7.993 billion yuan in revenue, a 2.79% increase year-on-year, while the low-carbon environmental and digitalization segment saw revenue of 3.870 billion yuan, up 11.17% year-on-year [7] - The energy logistics service segment achieved 11.640 billion yuan in revenue, reflecting a 5.13% year-on-year growth [7] Cost Management and Transformation - The company’s gross margin improved to 15.33%, an increase of 1.18 percentage points year-on-year, as it implemented comprehensive quality management and cost control measures [8] - The company is accelerating the transformation of traditional industries towards high-end, intelligent, and green development, launching ten digital management modules [8] Industry Outlook - The global oil service market is expected to continue its growth, with a projected market size of 326.5 billion USD in 2025, reflecting a 3.3% year-on-year increase [9] - The parent company, China National Offshore Oil Corporation, is actively pursuing a resource expansion and production increase plan, which is anticipated to enhance the company's long-term growth prospects [9] Profit Forecast and Valuation - The report maintains profit forecasts for 2025-2027, estimating net profits of 4.262 billion yuan, 4.698 billion yuan, and 5.215 billion yuan respectively, with corresponding EPS of 0.42 yuan, 0.46 yuan, and 0.51 yuan [10]

Group 1 - The company reported a revenue of 22.597 billion yuan for the first half of 2025, representing a year-on-year growth of 4.46% [1] - The net profit attributable to shareholders reached 1.829 billion yuan, with a year-on-year increase of 13.15% [1] - The company focused on three main industries: energy technology services, low-carbon environmental protection and digitalization, and energy logistics services [1] Group 2 - The energy technology services sector generated a revenue of 7.993 billion yuan, growing by 2.79% year-on-year [1] - The low-carbon environmental protection and digitalization sector achieved a revenue of 3.870 billion yuan, with an increase of 11.17% [1] - The energy logistics services sector reported a revenue of 11.640 billion yuan, reflecting a year-on-year growth of 5.13% [1] Group 3 - The company is accelerating the transformation and upgrading of traditional industries towards high-end, intelligent, and green development [1] - It launched ten digital module products related to production management, carbon management, and safety management during the reporting period [1] - The company has initiated the construction of smart factories, with three new factories entering the trial operation phase [1] Group 4 - The company is fostering the development of strategic emerging industries and future industries, optimizing its strategic emerging industry directory [2] - It is deepening its layout in six major fields with 137 products and services [2] - The oil service industry is evolving to integrate traditional energy and new energy, focusing on smart, green, and innovative development [2]

Core Viewpoint - The company has demonstrated strong performance in the first half of 2025, achieving significant revenue and profit growth while focusing on its strategic goal of becoming a competitive, specialized, and innovative energy technology service company [1] Group 1: Financial Performance - In the first half of 2025, the company reported operating revenue of 22.597 billion yuan, a year-on-year increase of 4.46% [1] - The net profit attributable to shareholders reached 1.829 billion yuan, with a year-on-year growth of 13.15% [1] - The net assets increased to 27.621 billion yuan, reflecting a 1.69% rise compared to the end of the previous year [1] Group 2: Core Business Development - The energy technology service sector, as a core business, has seen solid capability building, contributing to oil and gas reserve increases and production [2] - The company implemented various advanced technologies, including intelligent injection and production operations, resulting in a 16.11% increase in downhole tool business workload [2] - The company has successfully launched several high-end oil and gas equipment and smart manufacturing bases, enhancing its core technology and high-end equipment supply capabilities [2] Group 3: Low-Carbon and Digitalization - The low-carbon and digitalization sector achieved operating revenue of 3.870 billion yuan, a year-on-year increase of 11.17% [3] - The company has successfully delivered offshore wind operation vessels, supporting market expansion in offshore wind maintenance services [3] - New material technology development and green low-carbon technology promotion have been accelerated, with a 29.02% increase in sales of refining catalytic materials [3] Group 4: Energy Logistics Services - The energy logistics service sector generated operating revenue of 11.640 billion yuan, reflecting a year-on-year growth of 5.13% [4] - The company has enhanced its operational support capabilities through smart logistics and lean sales strategies, with a 15.61% increase in commodity sales [4] - The company has effectively managed oil price fluctuations through differentiated operational strategies [4] Group 5: Future Growth and Innovation - The company is focusing on long-term growth by optimizing its industrial layout and planning for strategic emerging industries [5] - Significant advancements in core technology have been achieved, including the development of domestically produced deep-water intelligent flow control valves [7] - The company is actively exploring new business models and enhancing production organization to drive profitability [9] Group 6: Brand and Market Expansion - The company has established a comprehensive brand strategy, enhancing its product offerings and market presence [8] - New market centers have been set up to boost external market development, resulting in a 141% year-on-year increase in new contracts [8] - The company has successfully penetrated international markets, achieving breakthroughs in several countries [8]

Group 1 - The Shanghai Composite Index fell by 0.02% to close at 3727.29 points, while the Hang Seng Index decreased by 0.21% to 25122.9 points [1] - Sinopec Oilfield Service Corporation (SSC) has an AH premium of 175.67%, ranking fourth among AH shares [1] - SSC's A-shares closed at 2.03 yuan, remaining flat, while H-shares closed at 0.8 Hong Kong dollars, down by 1.23% [1] Group 2 - SSC is a major integrated oil and gas engineering and technical service company controlled by China Petroleum & Chemical Corporation (Sinopec Group), with over 60 years of operational experience [1] - The company was formed through the restructuring of various oilfield enterprises and has been listed in both Shanghai and Hong Kong since 2014 [1] - The stock codes for SSC are SH600871 for A-shares and HK1033 for H-shares [1]

Core Viewpoint - Sinopec Oilfield Service Corporation (石化油服) reported a stable performance in the first half of 2025, with slight growth in revenue and profit, while the outlook for the oil service industry remains positive due to ongoing demand for oil and gas [1][2]. Company Summary - In the first half of 2025, the company achieved operating revenue of 37.05 billion yuan, a year-on-year increase of 0.6% [1]. - The net profit attributable to shareholders was 4.92 billion yuan, reflecting a year-on-year growth of 9% [1]. - The total new contract value signed in the first half was 63.67 billion yuan, up 3.2% year-on-year [1]. - New contracts from Sinopec Group amounted to 34.37 billion yuan, increasing by 3.0% [1]. - New contracts from domestic external markets were 9.68 billion yuan, showing a significant decline of 42.7% [1]. - New contracts from overseas markets reached 19.62 billion yuan, marking a substantial increase of 71.8% [1]. - The company operates five major business segments: geophysics, drilling engineering, logging, downhole special operations, and engineering construction, covering the entire oil and gas industry chain from exploration to production [1]. Industry Summary - The oil service industry is expected to maintain a high level of prosperity in the second half of 2025 [2]. - Global economic recovery and stable growth in China's economy will support continued demand for oil and gas [2]. - Oil and gas are recognized as strategic energy resources, emphasizing the importance of strategic reserves and emergency support [2]. - Domestic oil companies are expected to continue implementing energy security strategies, maintaining stable capital expenditure for oil and gas exploration and development [2]. - The oil service market is projected to grow steadily due to increased efforts by oil companies to enhance oil and gas reserves and production [2].

Core Viewpoint - The company plans to use its capital reserves to offset accumulated losses, aiming to enhance cash dividends and improve investor returns while complying with relevant regulations [1][2][4] Group 1: Financial Situation - As of December 31, 2024, the company's accumulated undistributed profits amounted to -1.820779 billion yuan, with surplus reserves of 200.383 million yuan [2][3] - The company intends to utilize 200.383 million yuan from surplus reserves and 1.820779 billion yuan from capital reserves to offset the accumulated losses [2][3] Group 2: Reasons for Losses - The primary reasons for the accumulated losses include a cumulative loss of 1.445 billion yuan from the previous company before its listing in 2014 and consecutive losses during 2016-2017 due to a significant drop in oil prices and a downturn in the global oil service industry [3] Group 3: Impact of the Plan - Upon completion of the plan, the surplus reserves will be reduced to 0, capital reserves will decrease to 9.713704 billion yuan, and the accumulated undistributed profits will be brought to 0 [3] - This plan is expected to help the company meet the profit distribution conditions set by relevant laws and its articles of association, thereby enhancing investor return capabilities and supporting high-quality development [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不會因本公告全部或任何部份內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 中石化石油工程技術服務股份有限公司 關於使用公積金彌補虧損的公告 本公告由中石化石油工程技術服務股份有限公司（「公司」）根據香港法例第 571章證券及期貨條例第XIVA部內幕消息條文及香港聯合交易所有限公司證 券上市規則第13.09條及第13.10B條而作出。 本公司董事會（「董事會」）及全體董事保證本公告內容不存在任何虛假記 載、誤導性陳述或者重大遺漏，並對其內容的真實性、準確性和完整性承擔 法律責任。 為深入貫徹《國務院關於加強監管防範風險推動資本市場高品質發展的若干 意見》精神、落實中國證券監督管理委員會（「中國證監會」）《關於加強上市 公司監管的意見（試行）》有關規定，按照國務院國資委《關於改進和加強中央 企業控股上市公司市值管理工作的若干意見》增強現金分紅穩定性、持續性和可 預期性的要求，積極推動公司高質量發展，提升投資者回報能力和水平，保護投 資者的合法權益，本公司及其子公司擬依據《中華人民 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不會因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 中石化石油工程技術服務股份有限公司 （在中華人民共和國註冊成立之股份有限公司） （股份代號：1033） 海外監管公告 此海外監管公告乃根據香港聯合交易所有限公司證券上市規則第 13.10B 條作出。 茲載列中石化石油工程技術服務股份有限公司在上海證券交易所網站刊登的以 下資料全文，僅供參考。 承董事會命 沈澤宏 公司秘書 2025年8月18日 於本公告日期，本公司現任董事為吳柏志先生 # 、張建闊先生 # 、章麗莉女士 + 、杜 坤先生 + 、鄭衛軍先生 * 、王鵬程先生 * 、劉江寧女士 * # 執行董事 + 非執行董事 * 獨立非執行董事 中石化石油工程技术服务股份有限公司 1 重要提示 一、本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的 真实性、准确性、完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个 别和连带的法律责任。 （在中华人民共和国注册成立之股份有限公司） 二零 ...