Bank Rating | Bank of China International: Lowering CNOOC's Target Price to HK$9.53 to Maintain “Hold” Rating
Gelonghui, April 28 | Bank of China International published a research report showing that CNOOC's net profit in the first quarter increased 57% year-on-year to 636 million yuan, but only reached 15% of the bank's annual budget target. Furthermore, the number of operating days of its rigs is surprisingly reduced by 3% year-on-year, indicating that although the market has improved, some of its rigs are still idle, or at least not fully operational. Meanwhile, four drilling rigs in the Middle East suspended operations in the second quarter, which may affect the Group's quarterly growth for the rest of the year. Although the bank believes that the Group can make progress in developing overseas markets, it is still cautious about its recent profits. This marshal
Major Bank Ratings | UBS: Maintaining CNOOC's “Buy” Rating First Quarter Results Meet Expectations
Glonghui, April 28 | UBS released a report stating that CNOOC's first-quarter results met expectations and maintained a “buy” rating, with a target price of HK$10.8. According to the report, CNOOC Services' net profit for the first quarter was 636 million yuan, an increase of 57% year-on-year, slightly exceeding market expectations and in line with the forecast. Thanks to the increase in the utilization rate of overseas drilling rigs, the high-margin oil well service sector's share of total profit before interest and tax rose to 87% to 88% (83% last year), increasing gross margin for the first quarter by 2.6 percentage points and 1.2 percentage points from year to quarter, respectively. According to UBS, the company has been expanding overseas
CIMC Enric (03899.HK): Clean energy orders increased, tank performance+inventory both bottomed out
Core idea: Clean energy revenue is growing rapidly, dragging down the tank & food business. The company issued a voluntary disclosure notice for the first quarter, achieving revenue of 4.635 billion yuan in 24Q1, -6.8% year-on-year; including clean energy, chemical tanks, and liquids
華油能源:2023 年報
山東墨龍:2023年報
CIMC Enric (03899): The grantor accepts all 39.5 million options granted under the terms of the option plan
Zhitong Finance App News, CIMC Enric (03899) issued an announcement. As of the date of this announcement, the grantor had accepted all 39.5 million options granted in accordance with the terms of the options plan. The granting of options under the options plan described above is one of the equity incentive arrangements for the directors and employees of the Group in 2023, and will be fully implemented after all the undertakers have accepted the options.