SSC Released the 2022 Interim Results in Beijing

On August 26, 2021, Sinopec Oilfield Service Corporation held 2022 Interim Results Announcement Conference in Beijing. The meeting was carried out simultaneously in three ways: Tencent meeting, live video broadcast and network text interaction at the Shanghai Stock Exchange Roadshow Center, communicating with investors from both A-share and H-share. A total of 227 investors, analysts and media reporters participated in the conference. The company’s chairman Mr. Chen Xikun,Executive Director and CEO Mr. Yuan Jianqiang, Independent Director Mr. Dong Xiucheng, CFO and Board Secretary Mr. Cheng Zhongyi and Deputy General Manager Mr. Sun Bingxiang attended the meeting. At the meeting, the management firstly introduced the operations, financials of 1H 2022 and outlook for 2H 2022. Then in Q&A session, the management answered the questions in which investment institutions and medias were interested.

In 1H 2022, the Company seized the favorable opportunity of high oil price and increased E&P Capex of oil companies, made all-out efforts to explore high-quality large-scale markets at home and abroad,  deepened reform and optimized resource allocation, gave full play to the leading role of technology, accelerated the transformation to a technology-leading company, and achieved steady growth in performance results. In 1H 2022, the Company achieved a revenue of 33.149 billion yuan, up by 5% YoY, and a net profit of 200 million yuan. The Company was awarded with new contracts valued 52.9 billion yuan, up 20.8% YoY.

Mr. Chen Xikun said, looking into the future, the international oil price will remain at a high level, driving oil companies to step up investment, injecting momentum into the oilfield service industry, thus opening up precious growth opportunities for the Company. The Company will improve and innovate the system, fully unleash the inner strength, optimize and modernize the governance structure, expand optimal markets, form a market layout and business structure where Sinopec market, domestic non-Sinopec markets, and overseas markets reinforce each other, carry forward project-based management, raise the resource allocation efficiency, and foster competitiveness in low costs. The Company will drive growth through innovation, move faster in green and low carbon development, deploy innovation chain along the industrial chain, speed up breakthroughs in technologies, sharpen our edge in the core business and seek quality upgrading through technological innovation, enhance IT/IS construction, create “digital oilfield services” and a “smart company”, accelerate the distribution of emerging businesses as “carbon emission peaking and carbon neutrality”, tackle problems hindering green and low carbon technologies, and nurture “small sparks” to form “a blaze”.


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