SSC Released the 2019 Interim Results in Hongkong

On August 28, 2019, Sinopec Oilfield Service Corporation held 2019 Interim Results Announcement in Hong Kong. More than 130 of institutional investors, analysts and journalists attended the conference. Vice Chairman and Executive Director Mr Chen Xikun,Executive Director and CEO Mr. Yuan Jianqiang, CFO Li Tian and Secretary to the Board Mr.Li Honghai attended the meeting. At the meeting, the management firstly introduced the operations, financials of 1H 2019 and outlook for 2H 2019. Then in Q&A session, the management answered the question that investment institutions and medias were interested in.

In 1H 2019, the company actively explored the market, deepened reforms, enhanced management, gave full play to the role of science and technology, recorded significant increases in revenue and new signed contract value and continued to improve operating  performance. In 1H 2019, the company recorded a revenue of 30.26 billion yuan, increased by 28% YOY, and a net profit of 510 million yuan,  increased by 27% YOY.  The company achieved new contracts 42.9 billion yuan, up 25% YoY. The annual workload target of main segments have been accomplished more than half.

In 2H 2019, the company will firmly seize the opportunity of industry upward cycle, adhere to the development concept of “leading technology, creating value, supporting oil & gas, and serving customers”, continue to deepen reform and optimize market structure, team structure, HR structure and capital structure, so as to build a solid foundation for sustainable and high-quality development and promote the company's specialized, market-oriented, global, high-end and featured development. We are committed to creat greater value for shareholders and society, and build a world-class integrated petroleum engineering service company.

(Rong Liming  Liu Wenxu)

Information source: