证券日报网讯8月11日晚间，海油工程（600583）发布公告称，公司拟于2025年8月16日发布2025年半年 度报告，计划于2025年8月19日09：00—10：00举行2025年半年度业绩说明会，会议召开方式为上证路 演中心网络互动。公司董事长、董事总裁、财务总监兼董事会秘书、相关独立董事等将出席本次业绩说 明会。 ...

Core Viewpoint - The "Haiyang Shiyou 295" vessel, designed and built by China, has arrived in Brunei for its first project operation, focusing on subsea pipeline installation in a challenging tropical environment [1] Group 1: Vessel and Technology - The "Haiyang Shiyou 295" is a multifunctional special operations vessel equipped with advanced underwater robotics, positioning it among the leading technologies in Asia [1] - The vessel features a large helicopter landing pad at the bow and a towering crane at the stern, making it distinctive among other ships in the port [1] Group 2: Project Details - The primary mission of the "Haiyang Shiyou 295" in Brunei involves laying approximately 26 kilometers of subsea pipeline [1] - The construction will take place under high temperatures and heavy rainfall, along with complex sea conditions [1] Group 3: Regional Context - Brunei, located in the northern part of Borneo, is rich in oil and gas resources, and cooperation between China and Brunei in ports, energy, and petrochemicals has been steadily developing in recent years [1]

Core Viewpoint - China's foreign trade demonstrates strong momentum despite a complex international environment, with exports reaching a historical high in the first half of the year, showcasing the competitiveness and comparative advantages of Chinese products [3][6]. Group 1: Trade Performance - In the first half of the year, China's goods trade import and export totaled 21.79 trillion yuan, a year-on-year increase of 2.9%, with exports exceeding 13 trillion yuan for the first time, growing by 7.2% [3]. - The profit margin for large-scale industrial enterprises in China was 5.15% in the first half of the year, indicating that the majority of exporting companies are achieving profit growth rather than engaging in dumping practices [3]. Group 2: Comparative Advantage - China's comparative advantage is rooted in its complete industrial system and collaborative effects, allowing it to meet diverse global market demands effectively [4]. - The concentration of over 400 toy production companies in Dongguan exemplifies the strong industrial support capabilities that enable efficient production and logistics [4]. Group 3: Innovation and Upgrading - In the first half of the year, exports related to new productive forces, particularly high-end equipment, grew by over 20%, while "new three types" products, representing green and low-carbon technologies, increased by 12.7% [6]. - China's export product innovation aligns with global trends towards green, digital, and intelligent industries, demonstrating the country's role as a proactive leader in industrial transformation [6].

Group 1 - The company proposes to reappoint Rongcheng Certified Public Accountants (Special General Partnership) as the auditing institution for the fiscal year 2025, citing their independent completion of audit work and good performance of responsibilities [2] - The company plans to cancel the supervisory board and amend its Articles of Association to enhance corporate governance, with the audit committee of the board taking over the supervisory functions [3] - The company will revise, formulate, and abolish certain corporate governance systems in accordance with the latest regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange, including the abolition of the supervisory board's internal rules [5]

Core Viewpoint - Hainan province is innovating its marine space management by implementing a three-dimensional layered usage rights system, allowing multiple projects to coexist in the same marine area, thus enhancing resource utilization and opening new avenues for marine economic development [3][5][6]. Group 1: Policy Innovation - Hainan has introduced a layered marine usage rights system, dividing marine space into four layers: water surface, water body, seabed, and subsoil, which can be allocated separately [5][6]. - The implementation of this system aims to resolve conflicts over marine space and improve resource utilization efficiency [6][8]. - The new regulations have gained national attention and are being promoted as a model for marine space management [5][6]. Group 2: Project Implementation - The Hainan underwater data center project is the first of its kind to utilize the layered marine usage rights, occupying only 14.46 hectares and demonstrating the potential of multi-layered marine development [4][8]. - Other projects, such as the bridge construction in Sanya and the aquaculture project in Lingshui, have also successfully utilized the layered approach, marking a significant shift in marine space management [8][9]. Group 3: Market Mechanism Enhancement - Hainan has developed a "land supermarket" platform where marine usage rights are made available for enterprises, increasing transparency and convenience in the application process [11][12]. - The "clean sea" allocation model allows for streamlined approval processes for aquaculture projects, significantly reducing the time and effort required for obtaining marine usage rights [11][12]. - As of now, 155 marine plots covering approximately 280,000 acres have been listed on the platform, with 18 plots totaling 38,600 acres already allocated [12].

Core Viewpoint - Zhongtian Technology's stock price experienced a slight decline, while the company continues to secure significant orders in various sectors, indicating its strong market position and growth potential [1]. Company Overview - Zhongtian Technology reported a closing stock price of 13.85 yuan on July 31, down 0.65% from the previous trading day, with a trading volume of 1.598 billion yuan [1]. - The company's main business areas include communication equipment, smart grids, marine engineering, and renewable energy [1]. - As a local enterprise in Nantong, Jiangsu, Zhongtian Technology has expanded its operations to cover 160 countries and regions, achieving recognition as a high-end manufacturing enterprise with 7 national manufacturing champions and 14 national-level specialized "little giant" enterprises [1]. Order and Financial Performance - The latest data indicates that Zhongtian Technology has secured approximately 13.4 billion yuan in orders within the marine economy sector, accounting for 43% of the total orders in the energy network segment [1]. - Recently, the company has won a total of 3.617 billion yuan in bids for domestic and international communication and power projects [1]. Market Activity - On July 31, the net inflow of main funds was 29.3776 million yuan, representing 0.06% of the circulating market value [1]. - Over the past five trading days, the overall fund flow has shown a net outflow trend, with a cumulative net outflow of 178 million yuan [1].

Core Viewpoint - The article highlights the successful development and approval of a large-capacity liquid hydrogen storage tank for deep-sea floating platforms by CNOOC Engineering, marking a significant advancement in offshore energy technology [1] Group 1: Product Development - CNOOC Engineering's special equipment division has received the Approval in Principle (AIP) certificate from China Classification Society (CCS) for its self-developed low-temperature liquid hydrogen storage tank [1] - This is the first large-capacity liquid hydrogen storage tank designed specifically for deep-sea floating platforms in China [1] Group 2: Technical Challenges and Solutions - The storage tank must ensure absolute safety under extreme conditions, including risks from ultra-low temperatures of -253°C, 12-level sea winds, high salt corrosion, and potential fatigue damage from liquid hydrogen movement [1] - The project team overcame multiple technical challenges by employing a multi-layer vacuum insulation structure and achieving an industry-leading evaporation rate of ≤0.5% [1] - The design includes a unique cross-wave barrier to effectively suppress liquid hydrogen movement, significantly reducing the risk of pressure surges under extreme conditions [1] Group 3: Future Plans - CNOOC Engineering plans to continue enhancing its technological capabilities and expand its "Qinghai" series products to support the development and comprehensive utilization of new offshore energy [1]

Core Viewpoint - The company reported a decline in revenue and net profit for H1 2025, primarily due to geopolitical conflicts affecting the progress of the Russian LNG project, but maintains a positive long-term outlook due to potential FPSO order releases and expansion into total assembly to enhance order value [1][3][4]. Financial Performance - In H1 2025, the company achieved revenue of 1.043 billion yuan, a year-on-year decrease of 1.66%, and a net profit attributable to shareholders of 12 million yuan, down 80.42% year-on-year. The adjusted net profit was 1 million yuan, a decline of 99.09% year-on-year [1]. - For Q2 2025, revenue was 500 million yuan, down 11.31% year-on-year and 7.92% quarter-on-quarter. The net profit attributable to shareholders was 1 million yuan, a decrease of 97.30% year-on-year and 93.15% quarter-on-quarter [1]. Margin Analysis - The gross margin for H1 2025 was 13.75%, a decrease of 2.88 percentage points year-on-year, attributed to the early recognition of project costs. However, the company is implementing automation and platform-based production reforms, which may lead to a recovery in gross margin [2]. - The total expense ratio for H1 2025 was 6.08%, down 1.50 percentage points year-on-year, indicating effective cost control in sales, management, and R&D expenses [2]. Project and Asset Management - The company signed a contract for the Russian ARCTIC LNG2 project in 2019, with a total contract value of 6.452 billion yuan. However, due to geopolitical tensions, project progress has been hindered, leading to an increase in asset impairment losses to 84 million yuan in H1 2025, up 77 million yuan year-on-year [3]. - If geopolitical tensions ease, the company may recover some of the impairment losses, which could improve profitability [3]. Future Outlook - The FPSO project reserves are expected to accelerate, with a projected increase in global FPSO orders from 6 units in 2022-2024 to 12 units in 2025-2027. The company is well-positioned in the FPSO upper module construction sector and is expected to continue securing high-quality orders [4]. - The company is expanding from module construction to total assembly, having successfully completed the Mero2 FPSO total assembly order in 2023, validating its capabilities across the entire industry chain [4]. Earnings Forecast and Valuation - The company's earnings forecasts for 2025-2027 have been revised down to 91 million yuan, 149 million yuan, and 330 million yuan, representing a significant reduction from previous estimates [5]. - The target price has been adjusted to 17.27 yuan, based on a price-to-book ratio of 1.5 times for 2025, reflecting the company's potential to benefit from improved financing conditions and accelerated project releases [5].

Meeting Information - The first extraordinary general meeting of shareholders for 2025 will be held on August 11, 2025, at 14:30 [1] - The meeting will utilize a combination of on-site and online voting methods [1] - The online voting system will be the Shanghai Stock Exchange's shareholder meeting online voting system, available from 9:15 to 15:00 on the day of the meeting [1][2] Voting Procedures - Shareholders can vote through the trading system or the internet voting platform, with specific time slots for each [2][3] - There are no public solicitations for shareholder voting rights [2] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts [4][5] Meeting Agenda - The meeting will review the proposal to reappoint Rongcheng Accounting Firm as the company's auditing institution for the year 2025 [2][6] - The proposal has already been approved by the company's board and supervisory board [2] Attendance and Registration - Shareholders registered by the close of trading on August 4, 2025, are eligible to attend the meeting [6] - Registration can be done in person or via mail/fax for remote shareholders [5][6] Contact Information - The contact person for the meeting is Li Yonglin, with provided contact details for inquiries [6]

Group 1 - The company has decided to abolish the supervisory board and amend its articles of association to enhance corporate governance and compliance with updated regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange [1][2] - The supervisory functions will be transferred to the audit committee of the board of directors, and relevant internal regulations related to the supervisory board will be abolished [1][2] - The specific amendments to the articles of association include changes to the representation of stakeholders and the legal responsibilities of the company and its representatives [2][3][4] Group 2 - The proposal to cancel the supervisory board and amend the articles of association will be submitted for approval at the company's first extraordinary general meeting of shareholders in 2025 [2] - Until the shareholders' meeting approves the cancellation of the supervisory board, the current supervisory board will continue to perform its duties diligently and responsibly [2] - The amendments to the articles of association include provisions for the legal representation of the company and the responsibilities of the legal representative [3][4][5]