Core Viewpoint - Morgan Stanley reports that certain stocks in China's oil service and oil engineering sector have outperformed the industry average and Brent crude oil price increases over the past six months, driven by record new order volumes, stable backlog, strong delivery capabilities, and positive outlooks for capital expenditures from Chinese oil companies and new orders in overseas markets [1] Group 1: Company Recommendations - Sinopec Engineering (02386) is identified as the top pick in the industry, expected to achieve steady revenue and profit growth due to strong order growth momentum, with a projected dividend yield of 6% to 7%. The target price is raised from HKD 7.1 to HKD 8.4, maintaining an "Overweight" rating [1] - CNOOC Services (02883) is expected to see a 20% year-on-year profit growth in FY2025 due to improved capacity utilization and order terms, with the H-share target price adjusted down from HKD 11 to HKD 10.4, also rated "Overweight" [1] - Sinopec Oilfield Services (600871) (01033) and Offshore Oil Engineering (600583) (600583.SH) maintain "Overweight" ratings, with Sinopec Oilfield Services noted for effective cost control and improved shareholder returns. The target price for Sinopec Oilfield Services H-shares is raised from HKD 0.92 to HKD 1, while Offshore Oil Engineering's target price is increased from RMB 6.4 to RMB 7.1 [1]

Core Viewpoint - The report from JPMorgan indicates that the Chinese oil service and oil engineering sector is outperforming both the industry average and Brent crude oil prices, driven by record new order volumes, stable backlog, strong delivery capabilities, and positive prospects for new orders in overseas markets [1] Industry Summary - The Chinese oil service and oil engineering sector has seen a significant increase in new signed orders, reaching a record high [1] - The sector benefits from a robust backlog of orders and strong delivery capabilities [1] - Capital expenditure from Chinese oil companies remains stable, contributing to the sector's positive outlook [1] Company Summary - Sinopec Engineering has been identified as the top pick in the industry, with expectations for steady revenue and profit growth [1] - The dividend yield for Sinopec Engineering is projected to be between 6% and 7% [1] - The target price for Sinopec Engineering has been raised to HKD 8.4, with a maintained "overweight" rating [1]

Core Viewpoint - Morgan Stanley's research report indicates that certain stocks in China's oil service and oil engineering sector have outperformed the industry average and Brent crude price increases over the past six months, driven by record-high new order volumes, stable backlog, strong delivery capabilities, and positive outlooks for capital expenditures from Chinese oil companies and new orders in overseas markets [1] Group 1: Company Recommendations - Sinopec Engineering is identified as the top pick in the industry, expected to achieve steady revenue and profit growth due to strong order growth momentum, with a projected dividend yield of 6% to 7%. The target price has been raised from HKD 7.1 to HKD 8.4, maintaining an "Overweight" rating [1] - CNOOC Services is expected to see a 20% year-on-year profit growth in FY2025 due to improved capacity utilization and order terms, with its H-share target price adjusted down from HKD 11 to HKD 10.4, also rated "Overweight" [1] - Sinopec Oilfield Services is noted for effective cost control and improved shareholder returns, with its H-share target price increased from HKD 0.92 to HKD 1.0. Meanwhile, CNOOC Engineering's target price has been raised from HKD 6.4 to HKD 7.1 following a new contract with Qatar Energy [1]