CNOOC ENERGY TECHNOLOGY SERVICES (600968) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was RMB 11.35 billion, down 5.75% year-over-year; year-to-date revenue reached RMB 33.95 billion, up 0.81% year-over-year.

• Net profit attributable to shareholders for Q3 was RMB 1.02 billion, down 4.51% year-over-year; year-to-date net profit was RMB 2.85 billion, up 6.11% year-over-year.

• Net profit excluding non-recurring items for Q3 was RMB 1.03 billion, up 5.52% year-over-year; year-to-date figure was RMB 2.86 billion, up 14.54% year-over-year.

Financial highlights

• Operating profit for the first nine months was RMB 3.58 billion, up 5.07% year-over-year.

• Basic and diluted EPS for Q3 was RMB 0.1007, down 4.51% year-over-year; year-to-date EPS was RMB 0.2806, up 6.11% year-over-year.

• Total assets at Q3-end were RMB 48.26 billion, down 2.52% from year-end 2024.

• Shareholders’ equity at Q3-end was RMB 28.62 billion, up 5.35% from year-end 2024.

• Net cash flow from operating activities for the first nine months was RMB 331 million, down 80.03% year-over-year.

Outlook and guidance

• Management notes that operating cash flow turned positive, but remains lower year-over-year due to ongoing settlement periods in some businesses.