Research Reports Gaining Insights | Huachuang Securities: CNOOC Energy Technology & Services shows stable profitability and is initially rated as "Strong Buy".

The research report from Huachuang Securities points out that CNOOC Energy Technology & Services (600968.SH), backed by China National Offshore Oil Corporation, has a robust profitability. The company's performance continues to grow thanks to the profit increase from its main Business and a reduction in period expense ratio due to ongoing cost-cutting and efficiency improvement measures. In terms of Energy technology services, the workload is closely related to CNOOC's production, and increasing reserves and production support performance growth. From 2024 to 2027, the company expects to receive deliveries of 10 jointly-owned LNG Transportation vessels successively, with LNG Transportation vessels linked to long-term contracts, likely to provide stable investment returns for the company. The current valuation of the company is significantly lower than that of Nuclear Power and hydropower sectors, which we believe offers an external comparison of the Sector.

Gelonghui FinanceDec 23, 2024 15:16 · Ratings

CNOOC Energy Technology & Services (600968): Performance is stable and promising, value is expected to be reshaped.

Backed by the China National Offshore Oil Corporation, the company's profitability is stable. The company is an oilfield technology service provider under CNOOC, with CNOOC as the actual controller, holding a share of 81.65%. The company's Business includes Energy technology services, Energy logistics services, Energy-saving and Environmentally Friendly and

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