Cnooc Energy Tech reports Q3 2025 growth, extensive subsidiary guarantees

Cnooc Energy Technology & Services Co. Ltd. announced a 0.81% increase in operating revenue to 33,946,574,198.80 yuan for the first nine months of 2025. Net profit attributable to shareholders rose 6.11% to 2,852,668,244.89 yuan. Basic earnings per share for the period were 0.2806 yuan, a 6.11% increase. Net cash flow from operating activities for the nine-month period decreased by 80.03% to 331,062,495.45 yuan, primarily due to ongoing settlement periods for some businesses.

The company also disclosed its credit guarantee situation for Q3 2025, showing total external guarantees, including those to subsidiaries, amounting to 284,997 million yuan. This represents 10.49% of the company's latest audited net assets. Guarantees to controlled subsidiaries totaled 275,600 million yuan, or 10.15% of the latest audited net assets.

Key guarantees include 200,000.00 yuan to CNOOC Petroleum Environmental Services (Tianjin) Co., Ltd., 219,440.00 yuan to CNOOC (Guangdong) New Energy Engineering Design Co., Ltd., and 4,666,153.66 yuan to CNOOC Energy Development Zhuhai Pipeline Engineering Co., Ltd. These guarantees are deemed necessary for operational funding, with the subsidiaries showing good credit and manageable risk.