盈利能力提升，负债率降低财务费用减少，2025 上半年利润显著提升。公司持续优化资源配置，着力 拓展高潜力市场，依托全产业链整合优势，强化核心竞争力，助力公司经营业绩稳定提升。2025 年上 半年公司毛利率达到17.54%，同比提升0.71pct。费用率方面，2025 上半年同比下降0.51pct，其中利息 费用同比下降21.23%，得益于公司债务结构优化，资产负债率同比下降2.74pct。盈利能力提升叠加费 用率改善，2025 上半年公司归母净利润增加23.4%。 高日费项目开始运营，钻井业务日费率大幅改善。2024 年受到沙特停船及天气因素影响，公司钻井平 台作业日数同比减少1.3%。2025 年上半年，公司持续提升钻井业务运营质效，狠抓作业效率提升，公 司钻井平台作业9,906 天，同比增加10.5%。其中，自升式钻井平台作业7,776 天，同比增幅10.5%；半 潜式钻井平台作业2,130 天，同比增幅10.8%。 事件描述 公司发布2025 年半年报。2025 上半年，公司实现营收233.20 亿元，同比增长3.5%；实现归母净利润 19.64 亿元，同比增长23.3%。2025 单二季度，公司实现 ...

Core Viewpoint - The company reported strong financial performance in the first half of 2025, with significant growth in net profit and operational efficiency across various segments [1][2][3]. Group 1: Financial Performance - In H1 2025, the company achieved revenue of 23.32 billion yuan, a year-on-year increase of 3.5%, and a net profit attributable to shareholders of 1.96 billion yuan, up 23.3% [1]. - For Q2 2025, revenue reached 12.52 billion yuan, reflecting a 1.1% year-on-year growth, with net profit of 1.08 billion yuan, increasing by 12.5% [1]. - The company's net profit forecast for 2025-2027 is 3.62 billion, 3.96 billion, and 4.26 billion yuan, respectively, indicating a compound annual growth rate of 11% [3]. Group 2: Business Segments - The drilling services segment generated revenue of 7.24 billion yuan in H1 2025, a 12.8% increase year-on-year, with a gross margin of 12.9%, up 1.9 percentage points [1]. - The oilfield technology services segment reported revenue of 12.38 billion yuan, a decrease of 3.5% year-on-year, while focusing on an integrated engineering service model [2]. - The ship service segment saw revenue of 2.61 billion yuan, a 19.8% increase year-on-year, with a total of 41,510 operating days, up 27.6% [2]. - The geophysical exploration segment maintained revenue at 1.1 billion yuan, with a gross margin improvement of 7.0 percentage points [2]. Group 3: Operational Efficiency - The company improved operational efficiency in its drilling business, with self-elevating and semi-submersible platform operating days increasing by 10.5% and 10.8%, respectively [1]. - The company successfully completed the world's first 100,000-ton floating platform installation and towing, setting a new benchmark in offshore engineering [2].

Core Viewpoint - CNOOC Services (02883.HK) reported a revenue of 48.302 billion RMB for the year ending December 31, 2024, representing a year-on-year increase of 9.51% with overseas revenue exceeding 10.89 billion RMB, marking a significant milestone [1] Group 1: Financial Performance - The company's net profit attributable to shareholders was 3.137 billion RMB, an increase of 4.11% year-on-year, with basic earnings per share at 0.6574 RMB and a proposed final dividend of 0.2306 RMB per share [1] - The drilling services segment achieved a revenue of 13.182 billion RMB, reflecting a 9.4% increase compared to the same period in 2023 [2] - The oilfield technology services segment generated a revenue of 27.610 billion RMB, up 7.4% year-on-year [3] - The marine services segment reported a revenue of 4.761 billion RMB, showing a significant growth of 20.9% compared to the previous year [4] Group 2: Business Strategy and Market Position - The company is focusing on technological innovation and cost control to enhance its market position and capitalize on international oil and gas market trends [1] - CNOOC Services is the largest offshore drilling contractor in China and is recognized internationally, operating 62 drilling platforms by the end of 2024 [2] - The company emphasizes a "technology-driven" strategy to enhance its service offerings and expand its market presence, particularly in offshore markets [3] - The marine services division has successfully expanded into Southeast Asia and Africa, enhancing its service capabilities and market penetration [4] Group 3: Future Outlook - The CEO anticipates oil prices to fluctuate between 60 to 80 USD, with overall exploration and development investments expected to grow steadily [5] - The company has not pursued new acquisitions since acquiring four self-elevating drilling platforms in 2023, indicating a potential shift in strategy where foreign companies may seek to acquire Chinese technology [5]