1月6日，中海油服盘中上涨2.05%，截至14:00，报14.43元/股，成交2.21亿元，换手率0.52%，总市值 688.54亿元。 分红方面，中海油服A股上市后累计派现154.92亿元。近三年，累计派现28.66亿元。 机构持仓方面，截止2025年9月30日，中海油服十大流通股东中，中国证券金融股份有限公司位居第三 大流通股东，持股1.38亿股，持股数量较上期不变。招商优质成长混合(LOF)（161706）位居第四大流 通股东，持股1307.74万股，相比上期增加474.46万股。华泰柏瑞沪深300ETF（510300）位居第五大流 通股东，持股1013.94万股，相比上期减少48.50万股。香港中央结算有限公司位居第六大流通股东，持 股999.42万股，相比上期减少217.29万股。招商瑞文混合A（007725）位居第七大流通股东，持股964.14 万股，持股数量较上期不变。易方达沪深300ETF（510310）位居第九大流通股东，持股728.70万股， 相比上期减少24.28万股。华夏沪深300ETF（510330）退出十大流通股东之列。 责任编辑：小浪快报 资料显示，中海油田服务股份有限公司位于河 ...

中远海特公告，公司于2025年12月31日与中国远洋海运集团有限公司签订新一期《关于购买商品和接受 劳务等服务方面的关联交易合同》，确定2026-2028年各类日常关联交易年度交易金额上限。根据2025 年度生产经营实际情况及对未来运力增长、业务规模变化等情况的预判，预计各类日常关联交易的年度 金额上限如下：船舶服务20亿元，船舶租赁25亿元，代收代付80亿元，购买燃料15.95亿元，劳务服务 20.9亿元，受托管理资产0.28亿元，房产租赁0.2亿元，商标使用许可1元。 ...

每经头条（nbdtoutiao）——海南封关首日直击：为中国探路，全球最大自贸港如何重塑开放边界？ （记者 王晓波） 2024年1至12月份，中海油服的营业收入构成为：油田技术服务占比57.26%，钻井业务占比27.34%，船 舶服务占比9.87%，物探和工程勘察服务占比5.53%。 截至发稿，中海油服市值为655亿元。 每经AI快讯，中海油服（SH 601808，收盘价：13.72元）12月19日晚间发布公告称，公司2025年第五次 董事会会议于2025年12月19日在海口以现场表决方式召开。会议审议了《关于公司2026年度授信计划的 议案》等文件。 ...

12月18日，上证指数涨0.16%，收报3876.37点，恒生指数涨0.12%，收报25498.13点。 中海油服AH溢价达120.67%，位居AH股溢价率第29位。当日收盘，中海油服A股报13.78元，涨幅 1.1%，H股报6.9港元，上涨0.58%。 *注：AH股是指同时在A股和港股上市的公司，溢价（A/H）越大，说明H股相比A股越便宜。 本文源自：市场资讯 作者：金股通 资料显示，中海油田服务股份有限公司(中海油服,China Oilfield Services Limited或COSL)是全球较具规 模的综合型油田服务供应商。服务贯穿海上石油及天然气勘探,开发及生产的各个阶段。业务分为四大 类:物探勘察服务、钻井服务、油田技术服务及船舶服务。COSL于2002年11月20日公开发行H股,并在香 港联合交易所主板上市,股票编号:2883。2004年3月26日起,COSL之股票以一级美国存托凭证的方式在美 国柜台市场进行交易,股票编号为CHOLY。COSL于2007年9月28日在上海证券交易所上市,A股股票简称: 中海油服,股票编号:601808。 ...

Core Viewpoint - CNOOC Services' stock price has experienced fluctuations, with a current decline of 2.01% and a year-to-date decrease of 2.46%, despite a recent 20-day increase of 5.93% [1] Financial Performance - For the period from January to September 2025, CNOOC Services reported a revenue of 34.854 billion, reflecting a year-on-year growth of 3.54%, and a net profit attributable to shareholders of 3.209 billion, which is a significant increase of 31.28% [2] Shareholder Information - As of September 30, 2025, the number of shareholders for CNOOC Services decreased by 6.08% to 64,000, with an average of 0 circulating shares per person [2] - The company has distributed a total of 15.492 billion in dividends since its A-share listing, with 2.866 billion distributed over the last three years [3] Major Shareholders - The top circulating shareholder is China Securities Finance Corporation, holding 138 million shares, unchanged from the previous period [3] - Other notable shareholders include招商优质成长混合(LOF) and华泰柏瑞沪深300ETF, with changes in their holdings compared to the previous period [3]

Summary of the Conference Call for CNOOC Services Industry Overview - The conference call primarily discusses the performance and outlook of the offshore oil services industry, particularly focusing on CNOOC Services. Key Points and Arguments Financial Performance - For the first three quarters of 2025, the company reported a revenue of RMB 34.854 billion, representing a year-on-year increase of 3.5% [3] - The net profit attributable to shareholders reached RMB 3.209 billion, with a year-on-year growth of 31.3% [3] Segment Performance - **Drilling Segment**: - Achieved significant improvements in operational efficiency through lean management and resource optimization, with calendar day utilization increasing by over double digits year-on-year [2][3] - Revenue saw a substantial increase, indicating enhanced market competitiveness [2] - **Technology Segment**: - Expanded its technical system towards demand and application ends, with a year-on-year increase in operational volume across major business lines [2][3] - **Vessel Segment**: - Consolidated domestic market share with a total of 9,427 additional operating days year-on-year, showing a revenue growth rate close to 10% [2][3] - **Tungsten Carbon Segment**: - Focused on high-return businesses and optimized capacity layout, achieving year-on-year growth in both revenue and profit [2][3] Market Conditions - The domestic drilling platform workload is fully utilized with no idle capacity, and a stable supply-demand balance is expected to continue in the coming years, providing a solid market demand and profit outlook [2][9] - In the overseas market, the day rate for semi-submersible platforms in the North Sea exceeds USD 300,000 per day, with contracts extending to 2030, contributing significantly to revenue and profit [2][10] Debt Management - The company effectively reduced interest expenses by repaying maturing USD debts, which lowers financial risk and creates favorable conditions for future profit growth [2][16] Future Contracts and Pricing - The framework agreement for the next three years is still in progress and is expected to be approved in December, focusing on work processes and service content rather than specific workload and pricing [4] - The pricing is anticipated to remain relatively stable in 2026 compared to 2025 [4] New Contracts and Market Trends - New contracts for drilling platforms are primarily concentrated in the Asia-Pacific region, with no particularly satisfactory long-cycle, high-yield contracts signed this year [8] - The oilfield technology service segment saw an increase in new orders, especially in the Middle East, Iraq, and North America, with a notable rise in contract volume despite smaller amounts [14][15] Technological Advancements - The company is advancing in smart and digital applications, including intelligent drilling platforms and smart oilfield construction, enhancing operational efficiency and effectiveness [17] Taxation Issues - The company is actively engaging with local tax authorities in Mexico to mitigate tax risks and improve internal management to lower overseas tax liabilities [18] Additional Important Information - The company’s "15th Five-Year Plan" aims for leapfrog development with clear annual targets to continuously explore potential and achieve higher operational goals [12] - The oilfield technology service segment's overall revenue and profit remained stable with slight declines due to changes in business calculation models [13]

Core Viewpoint - CNOOC Services, established in 2001 and listed in 2007, is one of the largest integrated oilfield service providers globally, covering all stages of oil and gas exploration, development, and production, with a rare full industry chain service capability [1] Financial Performance - In Q3 2025, CNOOC Services achieved a revenue of 34.854 billion yuan, ranking 2nd in the industry, surpassing the industry average of 16.033 billion yuan and the median of 1.866 billion yuan; the top competitor, Sinopec Oilfield Services, reported a revenue of 55.163 billion yuan [2] - The net profit for the same period was 3.391 billion yuan, ranking 1st in the industry, exceeding the industry average of 0.933 billion yuan and the median of 0.252 billion yuan; the second-ranked competitor, CNOOC Development, reported a net profit of 2.925 billion yuan [2] Financial Ratios - As of Q3 2025, the debt-to-asset ratio for CNOOC Services was 44.26%, lower than the previous year's 46.83% and below the industry average of 60.32%, indicating strong solvency [3] - The gross profit margin for the same period was 18.20%, up from 17.24% year-on-year and above the industry average of 17.03%, reflecting strong profitability [3] Shareholder Information - As of June 30, 2014, the number of A-share shareholders increased by 0.49% to 98,600, with an average holding of 30,000 circulating A-shares, up by 1.23% [5] - As of September 30, 2025, the top ten circulating shareholders included China Securities Finance Corporation with 138 million shares, unchanged, and other notable shareholders with varying changes in holdings [5] Business Highlights - The drilling segment remains robust, with increased operational volume and utilization rates expected to continue rising [6] - The oilfield technical services segment has shown consistent growth, becoming a core business that is likely to drive stable development [6] - The shipping segment has seen significant improvement, while the geophysical exploration business is undergoing adjustments, with future performance expected to improve [6] - CNOOC's capital expenditure remains high, which may lead to more development opportunities due to increased global oil and gas production [6]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][22][26] Core Views - The company has significantly increased its net profit in Q3 2025, with a year-on-year growth of 46.24% and a quarter-on-quarter growth of 15.69%. The revenue for Q3 2025 was 11.533 billion yuan, while the net profit reached 1.246 billion yuan [1][8] - The increase in revenue and gross profit is primarily attributed to the higher utilization rates of large equipment and the orderly operation of high-day-rate projects for overseas semi-submersible drilling platforms [1][8] - The company is focusing on optimizing its business structure, with expectations for gradual improvements in gross margins. The profit forecasts for 2025-2027 have been raised to 4.098 billion, 4.274 billion, and 4.560 billion yuan respectively [3][22] Summary by Sections Financial Performance - For the first three quarters of 2025, the company reported a revenue of 34.854 billion yuan, a year-on-year increase of 3.54%, and a net profit of 3.209 billion yuan, a year-on-year increase of 32.09% [1][8] - The gross margin for Q3 2025 was 19.53%, up by 1.46 percentage points year-on-year, and the net margin was 10.80%, up by 3.15 percentage points year-on-year [1][8] Drilling Platform Utilization - The utilization rate of drilling platforms remains high, with a total of 14,784 operational days in the first three quarters, representing a year-on-year increase of 12.3%. The self-elevating drilling platforms operated for 11,624 days, up by 9.7% year-on-year, while semi-submersible platforms operated for 3,160 days, up by 22.9% year-on-year [11][17] - The calendar day utilization rate for drilling platforms was 90.3%, an increase of 11.6 percentage points year-on-year [11] Oilfield Technology Services - The oilfield technology services segment has maintained growth in workload, with significant increases in ship service operations, totaling 62,589 operational days, a year-on-year increase of 17.7% [2][17] - The engineering survey segment is focusing on high-return businesses, with a notable increase in underwater operations, which saw a year-on-year growth of 131.3% [18]

Investment Rating - The investment rating for the company is "Buy" (maintained) [6] Core Views - The company's performance in the first three quarters of 2025 met expectations, with total revenue of 34.854 billion yuan, a year-on-year increase of 3.5%, and a net profit attributable to shareholders of 3.209 billion yuan, a year-on-year increase of 31.3% [6] - The offshore oil service industry remains at a high level of prosperity, with the company's drilling platform operating days reaching 14,784 days, a year-on-year increase of 12.3% [6] - The company is focusing on enhancing its core technology system driven by fundamental research, which is expected to lead to stable growth in its oilfield technical services segment [6] - The company's capital expenditure remains high, with China National Offshore Oil Corporation (CNOOC) planning capital expenditures of 125 to 135 billion yuan for 2025, providing a solid order guarantee for the company [6] - The profit forecasts for 2025 and 2026 have been raised to 3.98 billion yuan and 4.7 billion yuan respectively, maintaining the 2027 profit forecast at 5.36 billion yuan, corresponding to price-to-earnings ratios of 17X, 15X, and 13X [6] Financial Data and Profit Forecast - Total revenue for 2025 is estimated at 51.233 billion yuan, with a year-on-year growth rate of 6.1% [5] - The net profit attributable to shareholders for 2025 is projected to be 3.98 billion yuan, reflecting a year-on-year growth rate of 26.9% [5] - The earnings per share for 2025 is expected to be 0.83 yuan [5] - The gross profit margin for 2025 is estimated at 17.2% [5] - The return on equity (ROE) for 2025 is projected to be 8.5% [5]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][22]. Core Views - The company has significantly increased its net profit in Q3 2025, with a year-on-year growth of 46.24% and a quarter-on-quarter growth of 15.69%. The revenue for Q3 2025 was 11.53 billion yuan, with a gross margin of 19.53% [1][8]. - The drilling platform utilization rate remains high, contributing to revenue and profit growth, particularly from high-day-rate projects in the North Sea [1][11]. - The oilfield technology service segment has seen a steady increase in workload, with a notable 17.7% increase in ship service operations [2][17]. - The company is focusing on high-return businesses in the engineering survey segment, optimizing capacity allocation [2][18]. Summary by Sections Financial Performance - For the first three quarters of 2025, the company reported a revenue of 34.854 billion yuan, a year-on-year increase of 3.54%, and a net profit of 3.209 billion yuan, also up by 32.09% [1][8]. - The revenue for Q3 2025 was 11.533 billion yuan, with a gross margin of 19.53% and a net margin of 10.80% [1][8]. Drilling Operations - The total operating days for drilling platforms in the first three quarters reached 14,784 days, a year-on-year increase of 12.3%. The utilization rate for self-elevating platforms was 92.6% [11][1]. - The North Sea semi-submersible drilling platform projects have effectively boosted revenue and profit [1][11]. Oilfield Technology Services - The oilfield technology service segment has maintained growth in workload, with significant increases in ship service operations, totaling 62,589 days, up 17.7% year-on-year [2][17]. - The company is enhancing its service offerings to meet diverse customer needs [2][17]. Engineering Survey - The company is focusing on high-return projects, with a significant increase in underwater operations, which grew by 131.3% year-on-year, while 2D and 3D survey operations saw declines [2][18]. Profit Forecast - The profit forecast for 2025-2027 has been adjusted upwards, with expected net profits of 4.098 billion yuan, 4.274 billion yuan, and 4.560 billion yuan respectively [3][22]. - The earnings per share are projected to be 0.86 yuan, 0.90 yuan, and 0.96 yuan for the same period [3][22].