China Oilfield Services Class H ( (CHOLF) ) has released its Q4 earnings. Here is a breakdown of the information China Oilfield Services Class H presented to its investors.
China Oilfield Services Limited, a joint stock limited liability company incorporated in the People’s Republic of China, is primarily engaged in providing oilfield services such as drilling, well services, marine support, and geophysical acquisition and surveying services. The company has released its annual earnings report for the year ended December 31, 2024, showcasing significant financial performance and strategic developments.
The company reported a revenue of RMB48,218.1 million, with a profit from operations amounting to RMB5,047.6 million and a net profit of RMB3,399.1 million. Basic earnings per share were RMB65.74 cents, indicating a solid financial year. The total assets of the company stood at RMB82,947.7 million, while total equity was recorded at RMB44,424.5 million.
Key highlights from the financial report include a notable increase in revenue compared to the previous year, driven by strong performance across its business segments, particularly in well services and international operations. The company also managed to maintain a robust balance sheet with significant assets and equity, despite facing challenges such as increased operating expenses and depreciation costs.
Looking ahead, China Oilfield Services Limited remains optimistic about its future prospects, with management focusing on leveraging its strong market position and expanding its service offerings to drive growth and enhance shareholder value. The company is poised to capitalize on emerging opportunities in the oilfield services sector, both domestically and internationally.