On August 29, 2018 SSC announced its 2018 interim results in Hong Kong. More than 120 analysts and journalists attended the meeting. SSC deputy chairman and president Sun Qingde, executive director and executive vice president Chen Xikun, chief accountant Li Tian and board secretary Li Honghai also attended the meeting. SSC senior management announced the company’s interim performances, financial results and expectations, and answered questions that are intensely concerned by the investors and the press.
In the first half of 2018, SSC caught the opportunities of oil price recovery and increased upstream E&P CAPEX of oil companies. It vigorously expanded the external market, continued to deepen internal reforms, dug potentials and increased profits, and moved forward technical studies as well as applications. By June 30, 2018, its consolidated turnover stood at RMB 23.65 billion yuan, a year-on-year increase of 19.2%; and its net profit stood at RMB 4 billion yuan, a year-on-year increase of RMB 2.69 billion yuan.
In the second half, it is expected that the upstream E&P CAPEX of oil companies will continue to grow steadily as well as rapidly, and operation conditions in the oilfield service industry will continue to turn better. SSC will focus on improving development quality and increasing profits, extending markets with all the efforts, deepening reforms, and advancing internal reforms. It will advocate technical innovations, extend the business to the two ends of the industrial chain, vigorously move forward the transformative development and maintain a sustainable high-quality development to run for a better performance.