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]

Company Overview - Giant Offshore Oil Services Co., Ltd. was established in Shenzhen in 1995 and listed on the Hong Kong Stock Exchange in 2006, focusing on global energy development and utilization [3] - The company operates in multiple locations including Zhuhai, Penglai, Shenzhen, Dalian, and Tianjin, with a production area of over 1.5 million square meters and more than 3,000 employees [3] - Main business activities include marine engineering, offshore and onshore modules, oil platform and ship engineering, petrochemicals, oil and gas processing, new energy equipment, and mechanical product construction, maintenance, and technical support [3] Financial Performance - As of December 31, 2024, the company reported total revenue of 2.079 billion yuan, a year-on-year decrease of 19.78% [1] - The net profit attributable to shareholders was 185 million yuan, down 27.42% year-on-year [1] - The gross profit margin stood at 27.28%, and the debt-to-asset ratio was 30.43% [1] Market Position and Valuation - The company has a price-to-earnings (P/E) ratio of 6.72, ranking 9th in the oil and gas industry, which has an average P/E ratio of -3.47 and a median of 4.1 [2] - Other companies in the industry have varying P/E ratios, with some significantly lower than that of Giant Offshore Oil Services [2] Industry Recognition and Achievements - The company has successfully delivered major projects such as the GCGV olefin facility module, Petrobras FPSO module, and offshore wind power jacket structures in China and Europe [4] - It has received multiple awards for project delivery and safety, including the Best Module Construction Site Award for the GCGV project and the Outstanding Safety Quality Delivery Award from Chevron [4]

Core Viewpoint - The company has announced a profit distribution plan for the fiscal year 2024, which was approved at the annual shareholders' meeting on April 10, 2025 [1]. Distribution Plan - The distribution year is set for 2024 [2]. - The distribution target includes all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch, excluding 4,348,000 shares held in the company's repurchase account [2]. - The differentiated dividend plan proposes a cash dividend of 2.50 RMB per 10 shares (including tax), with no stock dividends or capital reserve transfers [2]. - The total share capital is 281,719,277 shares, and the actual participating shares for distribution amount to 277,371,277 shares after excluding repurchased shares [2]. Dividend Calculation - The cash dividend per share is calculated as approximately 0.2461 RMB, based on the formula provided [3]. - The reference price for ex-dividend is calculated as the previous closing price minus the cash dividend [3]. Payment Method - Cash dividends will be distributed through the China Securities Depository and Clearing Corporation's clearing system to shareholders registered by the end of the trading day [5]. - Specific shareholders will receive dividends directly from the company [5]. Taxation Details - For individual shareholders and securities investment funds, the actual cash dividend is 0.25 RMB per share, with tax implications based on holding periods [6]. - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax, resulting in a net dividend of 0.225 RMB per share [7]. - Hong Kong investors will also face a 10% withholding tax, leading to a net dividend of 0.225 RMB per share [7]. - Non-resident corporate shareholders will be subject to a 10% withholding tax, resulting in a net dividend of 0.225 RMB per share [8]. - Other institutional investors are responsible for their own tax payments, receiving a net dividend of 0.25 RMB per share [8].