Sinopec Oilfield Service first-quarter profit up 23%

Sinopec Oilfield Service Corporation (HKEX:1033) has released its first-quarter results for 2025, reporting a net profit attributable to equity shareholders of CNY 218.35 million, a 23% increase compared to the same period last year. Basic and diluted earnings per share both rose to CNY 0.012, up 33.3%. Operating income stood at CNY 17.85 billion, a slight decrease of 3.7% year-over-year. The company's total assets reached CNY 77.71 billion. The total cumulative amount of newly signed contracts reached CNY 34.82 billion, representing a year-on-year increase of 2.2%. The company highlights the importance of engineering and technical services, its work with oil companies, and market development in this positive Q1 performance.