China Oilfield Services approves $10 bn wealth management plan for 2026

China Oilfield Services announced its 2026 entrusted wealth management plan, authorizing a maximum daily balance of RMB 10 billion for investments in commercial bank structured deposits and money market funds. This initiative aims to enhance the efficiency of temporarily idle funds and increase shareholder returns. The plan is valid from January 1, 2026, to December 31, 2026, with the company prioritizing low-risk products from highly-rated financial institutions to mitigate market volatility.

The decision was approved during the company's Fifth Meeting of the Board of Directors in 2025, held on December 19, 2025. This board meeting also saw the approval of several key governance revisions, including updates to the working rules for the Audit, Nomination, and Remuneration and Assessment Committees, as well as the Information Disclosure Management System.

Additionally, the board approved the 2026 budget, including provisions for directors' and officers' liability insurance and public donations, alongside the 2026 credit line plan. These approvals, made with unanimous consent from attending directors, reinforce the company's commitment to robust financial management and corporate governance. The board also appointed Ms. Zhao Ljuan as a member of the Nomination Committee.