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 core viewpoint of the article highlights the financial performance of CNOOC Development in the first half of 2025, showing a revenue increase and profit growth compared to the previous year [1] - The total operating revenue for the first half of 2025 was 22.597 billion yuan, representing a 4.46% increase year-on-year [1] - The net profit for the same period was 1.829 billion yuan, reflecting a 13.15% growth compared to the previous year [1] - Earnings per share were reported at 0.18 yuan, with a return on equity of 6.57% [1] - The company reported a negative operating cash flow per share of -0.0470 yuan and a gross profit margin of 15.33% [1] Group 2 - CNOOC Development was established in 2005 and is located in Dongzhimenwai, Beijing, focusing on the marine oil industry across exploration, development, production, sales, oil and gas processing, LNG, and refining [1] - The company has a registered capital of 10.165 billion yuan and is led by legal representative Zhu Lei [1] - CNOOC Development has made investments in 64 companies and participated in 5,000 bidding projects [1] - The company holds 56 trademark registrations and 4,033 patent registrations, along with 59 administrative licenses [1]