HK stocks movement | China Petroleum Engineering & Technology Co. Ltd (01033) opens more than 8% higher, 25-year net profit attributable to mother company increases 4.3% year-over-year, company is expected to continue benefiting from bullish oil engineering industry

CITIC Securities APP reports that Sinopec Oilfield Service (01033) opened more than 8% higher. As of the time of writing, it rose 8.08% to HKD 1.07, with a trading volume of HKD 10.3704 million.

In terms of news, Sinopec Oilfield Service recently announced its 2025 performance. Operating revenue was approximately RMB 80.712 billion, a decrease of 0.5% year-on-year; net profit attributable to shareholders was about RMB 659 million, up 4.3% year-on-year; net profit attributable to shareholders after deducting non-recurring gains and losses was approximately RMB 451 million, an increase of 237.9% year-on-year; basic earnings per share were RMB 0.035. In 2025, the company’s total new contracts signed amounted to RMB 95.6 billion, a 4.8% increase year-on-year, setting a record high. Among them, China Petrochemical Group’s new contracts signed totaled RMB 50.3 billion, up 7.0%; new contracts in domestic and external markets totaled RMB 18.6 billion, down 6.5%; overseas market new contracts reached RMB 26.7 billion, up 9.9%.

Everbright Securities pointed out that in 2025, Sinopec Oilfield Service’s net profit attributable to parent and gross profit margin steadily increased, and operating quality continued to improve. The firm believes that the oil engineering industry’s prosperity, combined with the parent company maintaining high upstream capital expenditure, suggests the company is expected to continue benefiting. Looking ahead, the geopolitical situation in the Middle East remains volatile, and China’s energy supply chain security faces challenges. Ensuring China’s energy supply autonomy and controllability has become increasingly important, and the oil engineering industry is expected to maintain its prosperity.