COSL's first quarter net profit soars 39.6%

China Oilfield Services Limited (HKEX:2883) has announced its first-quarter results for 2025, revealing a 39.6% surge in net profit attributable to shareholders, reaching CNY887.2 million compared to CNY635.5 million in the same period last year. The company's operating revenue increased by 6.4% to CNY10,797.5 million, while total assets reached CNY83,377.9 million. Basic and diluted earnings per share both rose by 46.2% to CNY0.19. The weighted average net assets earnings ratio also increased by 0.5 percentage points to 2.0%. The company attributes the strong performance to improved international operations, enhanced resource integration, and high occupancy rates for its large-scale equipment. COSL noted that the calendar day utilization rate of drilling rigs was 89.5%, representing an increase of 10.3 percentage points as compared with the same period last year.