Core Viewpoint - Zhongman Petroleum's stock has shown significant growth this year, with a 30.41% increase year-to-date and a notable rise in recent trading days, indicating strong market interest and potential investment opportunities [1][2]. Company Overview - Zhongman Petroleum and Natural Gas Group Co., Ltd. is located in Shanghai and was established on June 13, 2003, with its listing date on November 17, 2017. The company specializes in exploration and development, oilfield engineering, and petroleum equipment manufacturing [1]. - The main revenue sources for Zhongman Petroleum are crude oil and its derivatives (54.70%), drilling engineering services (38.43%), and sales and leasing of drilling rigs and accessories (5.97%) [1]. Financial Performance - For the period from January to September 2025, Zhongman Petroleum reported a revenue of 2.985 billion yuan, a year-on-year decrease of 2.18%, and a net profit attributable to shareholders of 453 million yuan, down 32.18% year-on-year [2]. - The company has distributed a total of 979 million yuan in dividends since its A-share listing, with 771 million yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, Zhongman Petroleum had 30,100 shareholders, a decrease of 32.03% from the previous period, with an average of 15,360 circulating shares per shareholder, an increase of 47.13% [2]. - Notable changes in institutional holdings include an increase in shares held by major funds, with Dazhong New Industry Mixed A becoming the third-largest shareholder, increasing its holdings by 4.4124 million shares [3].

Core Viewpoint - Zhongman Petroleum's stock has shown a significant increase in recent trading sessions, reflecting positive market sentiment and potential growth in the oil and gas sector [1][2]. Group 1: Stock Performance - As of November 5, Zhongman Petroleum's stock price rose by 2.09% to 21.53 CNY per share, with a trading volume of 134 million CNY and a turnover rate of 1.36%, resulting in a total market capitalization of 9.954 billion CNY [1]. - Year-to-date, Zhongman Petroleum's stock has increased by 14.14%, with a 7.11% rise over the last five trading days, an 11.61% increase over the last 20 days, and a 13.98% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Zhongman Petroleum reported a revenue of 2.985 billion CNY, a year-on-year decrease of 2.18%, and a net profit attributable to shareholders of 453 million CNY, down 32.18% year-on-year [2]. - The company has distributed a total of 979 million CNY in dividends since its A-share listing, with 771 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Zhongman Petroleum had 30,100 shareholders, a decrease of 32.03% from the previous period, with an average of 15,360 circulating shares per shareholder, an increase of 47.13% [2]. - Notable changes in institutional holdings include an increase in shares held by major funds, with Dazhong New Industry Mixed A becoming the third-largest shareholder, increasing its holdings by 4.4124 million shares [3].

Core Viewpoint - Zhongman Petroleum, established in 2003 and listed in 2017, is the first private enterprise in China with its own oil fields, showcasing significant investment value through its comprehensive business operations in exploration, oil service engineering, and petroleum equipment manufacturing [1] Business Performance - In Q3 2025, Zhongman Petroleum achieved a revenue of 2.985 billion yuan, ranking 4th in the industry, with the top competitor, Sinopec Oilfield Service, generating 55.163 billion yuan [2] - The company's net profit for the same period was 470 million yuan, also placing it 4th in the industry, while the industry leader, CNOOC Services, reported a net profit of 3.391 billion yuan [2] Financial Ratios - As of Q3 2025, Zhongman Petroleum's debt-to-asset ratio was 63.51%, higher than the industry average of 60.32% [3] - The gross profit margin stood at 44.60%, significantly above the industry average of 17.03% [3] Executive Compensation - Chairman Li Chundi's salary for 2024 is set at 2.03 million yuan, an increase of 419,500 yuan from 2023 [4] - President Li Shiguang's salary for 2024 is 1.1 million yuan, a decrease of 120,500 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 32.03% to 30,100 [5] - The average number of circulating A-shares held per shareholder increased by 47.13% to 15,400 [5] Growth Outlook - Longjiang Securities noted a 3.29% year-on-year revenue growth in the first half of 2025, but a 29.81% decline in net profit due to falling international oil prices and increased financial costs [5] - The company is expected to see net profits of 740 million yuan, 1.1 billion yuan, and 1.39 billion yuan from 2025 to 2027, maintaining a "buy" rating [5] International Operations - The overseas projects, particularly in the Kazakhstan and Iraq regions, are progressing well, contributing to production increases [6] - The company is actively involved in new projects, including the completion of planning for the Iraq project and successful test drilling in Kazakhstan [6]

Core Viewpoint - Zhongman Petroleum's stock price has shown fluctuations, with a recent decline of 2.03% and a year-to-date increase of 4.97%, indicating mixed market sentiment towards the company [1]. Company Overview - Zhongman Petroleum and Natural Gas Group Co., Ltd. is based in Shanghai and was established on June 13, 2003, with its listing date on November 17, 2017. The company specializes in exploration and development, oilfield engineering, and petroleum equipment manufacturing [1]. - The main revenue sources for Zhongman Petroleum are crude oil and its derivatives (54.70%), drilling engineering services (38.43%), and sales and leasing of drilling rigs and accessories (5.97%) [1]. Financial Performance - For the first half of 2025, Zhongman Petroleum reported a revenue of 1.981 billion yuan, reflecting a year-on-year growth of 3.29%. However, the net profit attributable to shareholders decreased by 29.81% to 300 million yuan [2]. - The company has distributed a total of 979 million yuan in dividends since its A-share listing, with 771 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Zhongman Petroleum had 44,300 shareholders, an increase of 32.16% from the previous period. The average number of circulating shares per shareholder decreased by 24.33% to 10,440 shares [2]. - Among the top ten circulating shareholders, Dazhong New锐产业混合A (090018) is the fifth largest with 6.851 million shares, while Hong Kong Central Clearing Limited is the eighth largest with 4.395 million shares, having decreased its holdings by 787,200 shares [3].

Core Viewpoint - Zhongman Petroleum's stock price has shown a positive trend with an increase of 8.12% year-to-date, indicating a growing interest in the company within the oil and gas sector [2]. Group 1: Stock Performance - As of October 22, Zhongman Petroleum's stock rose by 2.13%, reaching 20.61 CNY per share, with a trading volume of 3.09 billion CNY and a turnover rate of 3.29%, resulting in a total market capitalization of 95.29 billion CNY [1]. - The stock has increased by 3.67% over the last five trading days, 5.48% over the last 20 days, and 7.49% over the last 60 days [2]. Group 2: Financial Performance - For the first half of 2025, Zhongman Petroleum reported a revenue of 1.981 billion CNY, reflecting a year-on-year growth of 3.29%, while the net profit attributable to shareholders was 300 million CNY, showing a decline of 29.81% compared to the previous year [2]. - The company has distributed a total of 979 million CNY in dividends since its A-share listing, with 810 million CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of June 30, 2025, Zhongman Petroleum had 44,300 shareholders, an increase of 32.16% from the previous period, with an average of 10,440 circulating shares per shareholder, a decrease of 24.33% [2]. - Among the top ten circulating shareholders, Dazhong New锐产业混合A holds 6.851 million shares, while Hong Kong Central Clearing Limited has reduced its holdings by 787,200 shares [3].

Core Viewpoint - Zhongman Petroleum's stock has shown a positive trend with a year-to-date increase of 6.38%, reflecting investor interest and market activity [1][2]. Company Overview - Zhongman Petroleum and Natural Gas Group Co., Ltd. is located in Shanghai and was established on June 13, 2003, with its listing date on November 17, 2017. The company specializes in exploration and development, oil service engineering, and petroleum equipment manufacturing [1]. - The main revenue sources for Zhongman Petroleum are crude oil and its derivatives (54.70%), drilling engineering services (38.43%), and sales and leasing of drilling rigs and accessories (5.97%) [1]. Financial Performance - For the first half of 2025, Zhongman Petroleum reported a revenue of 1.981 billion yuan, representing a year-on-year growth of 3.29%. However, the net profit attributable to shareholders decreased by 29.81% to 300 million yuan [2]. - The company has distributed a total of 979 million yuan in dividends since its A-share listing, with 810 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Zhongman Petroleum had 44,300 shareholders, an increase of 32.16% from the previous period. The average number of circulating shares per shareholder decreased by 24.33% to 10,440 shares [2]. - Notable shareholders include Dazhong New锐产业混合A, which is the fifth-largest shareholder with 6.851 million shares, and Hong Kong Central Clearing Limited, which is the eighth-largest shareholder with 4.395 million shares, having reduced its holdings by 787,200 shares [3].

Group 1 - The core viewpoint of the news is that Zhongman Petroleum's stock has increased by 5.5%, reaching a price of 20.33 yuan per share, with a trading volume of 213 million yuan and a turnover rate of 2.35%, resulting in a total market capitalization of 9.399 billion yuan [1] - Zhongman Petroleum and Natural Gas Group Co., Ltd. is located in Shanghai and was established on June 13, 2003, with its listing date on November 17, 2017. The company's main business includes exploration and development, oil service engineering, and petroleum equipment manufacturing [1] - The revenue composition of Zhongman Petroleum is as follows: crude oil and its derivatives account for 54.70%, drilling engineering services 38.43%, sales and leasing of drilling rigs and accessories 5.97%, other (supplementary) 0.66%, and trade of petroleum and products, as well as petroleum pipes 0.24% [1] Group 2 - Among the top ten circulating shareholders of Zhongman Petroleum, a fund under Dacheng Fund ranks first. Dacheng New Industry Mixed A (090018) entered the top ten circulating shareholders in the second quarter, holding 6.851 million shares, which is 1.48% of the circulating shares. The estimated floating profit today is approximately 7.2621 million yuan [2] - Dacheng New Industry Mixed A (090018) was established on March 20, 2012, with a latest scale of 4.739 billion yuan. Year-to-date returns are 43.33%, ranking 1540 out of 8162 in its category; the one-year return is 36.38%, ranking 2445 out of 8015; and since inception, the return is 913.1% [2] Group 3 - The fund manager of Dacheng New Industry Mixed A (090018) is Han Chuang. As of the report, Han Chuang has a cumulative tenure of 6 years and 280 days, with the current total asset scale of 14.487 billion yuan. The best fund return during his tenure is 433.28%, while the worst return is 5.27% [3]

Investment Rating - The report maintains a "Buy" rating for both A-shares and H-shares of the company [6]. Core Viewpoints - The company is a leading integrated oilfield service provider in China, focusing on cost reduction and efficiency improvement while deepening transformation [1][4]. - The company is actively expanding its overseas market presence, benefiting from the "Belt and Road" initiative, with significant growth in overseas revenue and new contracts [2][4]. - The company aims to enhance production efficiency by optimizing human resources and asset management, leading to a significant reduction in workforce and an increase in revenue per employee [3][4]. Summary by Sections Company Overview - The company operates across five major business segments: geophysical services, drilling engineering, logging, downhole special operations, and engineering construction, covering the entire oil and gas industry chain from exploration to abandonment [1][17]. - It has established a strong international presence, executing projects in over 30 countries and becoming a key contractor for national oil companies in Saudi Arabia, Kuwait, and Ecuador [1][27]. Financial Performance - For the first half of 2025, the company achieved a revenue of 37.1 billion yuan, a year-on-year increase of 0.6%, and a net profit of 492 million yuan, up 9.0% [32]. - The company forecasts net profits of 909 million, 1.099 billion, and 1.315 billion yuan for 2025, 2026, and 2027, respectively, with corresponding EPS of 0.05, 0.06, and 0.07 yuan per share [4][5]. Operational Efficiency - The company plans to reduce various institutions by 271 and teams by 124 in 2024, saving operational costs of 150 million yuan [3]. - The workforce has decreased from 81,340 in 2016 to 60,162 in 2024, a reduction of 26%, while revenue per employee has increased by 155% [3]. Market Expansion - The company has seen a 4% year-on-year increase in overseas revenue to 9.28 billion yuan and a 72% increase in new contracts to 19.62 billion yuan [2]. - Major breakthroughs in key markets such as Saudi Arabia, Kuwait, and Ecuador have been achieved, with significant contracts signed [29]. Research and Development - The company is committed to increasing R&D investment, maintaining a research intensity of 2.5%-3% in 2024, and aims to enhance technological innovation and core competencies [3][38]. - The company has received multiple awards for its technological advancements and has a robust patent portfolio [38][42].

Company Overview - Zhongman Petroleum has seen its stock price increase by 1.19% year-to-date, with a recent 5-day increase of 1.21%, a 20-day decrease of 1.43%, and a 60-day decrease of 2.10% [2] - The company was established on June 13, 2003, and went public on November 17, 2017. Its main business includes exploration and development, oilfield engineering, and petroleum equipment manufacturing [2] - The revenue composition of Zhongman Petroleum includes 54.70% from crude oil and its derivatives, 38.43% from drilling engineering services, 5.97% from drilling equipment and parts sales and leasing, and 0.66% from other sources [2] Financial Performance - For the first half of 2025, Zhongman Petroleum achieved a revenue of 1.981 billion yuan, representing a year-on-year growth of 3.29%. However, the net profit attributable to shareholders decreased by 29.81% to 300 million yuan [2] - The company has distributed a total of 888 million yuan in dividends since its A-share listing, with 718 million yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, Zhongman Petroleum had 44,300 shareholders, an increase of 32.16% from the previous period. The average number of circulating shares per shareholder decreased by 24.33% to 10,440 shares [2] - Among the top ten circulating shareholders, Dazhong New锐产业混合A (090018) is the fifth largest with 6.851 million shares, while Hong Kong Central Clearing Limited is the eighth largest with 4.395 million shares, having reduced its holdings by 787,200 shares [3] Market Activity - On September 26, Zhongman Petroleum's stock rose by 2.17%, reaching 19.29 yuan per share, with a trading volume of 82.5754 million yuan and a turnover rate of 0.93%. The total market capitalization is 8.919 billion yuan [1] - The net inflow of main funds was 5.5556 million yuan, with large orders accounting for 23.50% of purchases and 16.78% of sales [1]

以9月15日收盘价计算，中石化油服目前市盈率（TTM）约22.03倍，市净率（TTM）约1.49倍，市销率（TTM）约0.17倍。 市净率(LF)历史分位(%) (100 90 87a87 80 80x24 71x65 74:39 70 68x85 6764 60 56.87 50 40 30 20 10 0 2019-12-37 1 1-12-37 : 2-12-37 J-12-37 制图数据来自恒生聚源数据库 公司经营范围包括施工总承包、专业承包、劳务分包；建设工程项目管理；为陆上和海洋石油和天然气的开采提供服务；工程和技术研究与试验发展；建筑 工程准备；销售机械设备、五金交电、计算机、软件及辅助设备；机械设备租赁；能源矿产地质勘查、固体矿产地质勘查：地质勘查技术服务；石油、天然 气和矿产能源项目的投资：组织具有制造经营项目的企业制造金属结构、金属工具、金属压力容器、通用仪器仪表、专用仪器仪表、化学试剂、化学助剂、 专项化学用品(包括油田化学品)和矿山、冶金、建筑专用设备；组织具有对外承包工程许可的企业承包境外石油工程、天然气工程、化工工程、桥梁工程、 公路工程、房屋建筑工程、水利水电工程、市政公用工程、 ...