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China Oilfield Services Limited logo

China Oilfield Services Limited

2883.HK

HKSEEnergyOil & Gas Equipment & Services

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Latest quote

HK$7.49

+HK$0.005 · +0.07%

Aug 24, 4:08 PM HKT

2883.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

China Oilfield Services Limited (COSL), a subsidiary of China National Offshore Oil Corporation, is headquartered in Sanhe, China, and, along with its various operating units, delivers a comprehensive suite of offshore oilfield services both within Mainland China and across global markets. Its operations are structured into four primary divisions: Drilling Services, Well Services, Marine Support Services, and Geophysical Acquisition and Surveying Services. The Drilling Services segment specializes in offering various drilling rig solutions, including those for jack-up, semi-submersible, modular, and land-based operations. This also encompasses casing and tubing services, alongside the inspection and repair of running pipes, managing a significant fleet comprising 36 jack-up rigs, 12 semi-submersible rigs, and 6 modular rigs. Within Well Services, the company provides an array of essential onshore and offshore support, such as logging, management of drilling and completion fluids, precision directional drilling, cementing, well completion and workover, well stimulation, and optimization strategies for oilfield production. The Marine Support Services division encompasses a wide range of maritime operations, from anchor handling and the towing of drilling rigs or engineering barges to oil lifting, offshore transport, standby duties, firefighting, rescue missions, and oil spill response, boasting a substantial fleet of roughly 130 vessels, including anchor-handling tug/supply vessels, platform supply vessels, multi-purpose vessels, barges, and shuttle tankers. Finally, the Geophysical Acquisition and Surveying Services segment focuses on specialized marine activities like seismic data acquisition, offshore geo-surveying, the processing and interpretation of seismic data, and various underwater engineering tasks, utilizing assets that include 6 seismic vessels, 2 ocean-bottom cable teams, and 5 engineering surveying vessels. COSL also participates in the bond market.

Industry
Oil & Gas Equipment & Services
Sector
Energy
Headquarters
CN
CEO
Jianzhong Liu
Listed since
Nov 20, 2002
Employees
15,533

Market position

Day range

Current HK$7.49

52-week range

Current HK$7.49

Open
HK$7.45
Previous close
HK$7.485
Volume
5.97M
0.7× average
Average volume
8.57M
Average daily volume
Market cap
63.03B HKD
Beta
0.6
Market reference 1
50-day average
HK$6.9089
+8.41% above average
200-day average
HK$8.1316
-7.89% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
35.54B CNY
P/E (TTM)
15.49×
P/B (TTM)
1.24×
P/S (TTM)
0.94×
EV / EBITDA
3.1×
Earnings yield
12.82%
Free cash flow yield
18.03%
Dividend yield
2.28%

Profitability & efficiency

Gross margin
17.36%
Operating margin
11.53%
Net margin
7.50%
Return on equity
8.25%
Return on assets
4.55%
Return on invested capital
8.09%

Financial health

Debt / equity
0.41×
Current ratio
1.06×
Altman Z-score
1.93
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends19%12%6%-1%Gross margin, FY2021: 16.42%Gross margin, FY2022: 12.28%Gross margin, FY2023: 15.88%Gross margin, FY2024: 15.69%Gross margin, FY2025: 17.39%Operating margin, FY2021: 13.29%Operating margin, FY2022: 8.41%Operating margin, FY2023: 9.66%Operating margin, FY2024: 10.01%Operating margin, FY2025: 12.44%Net margin, FY2021: 1.07%Net margin, FY2022: 6.61%Net margin, FY2023: 6.83%Net margin, FY2024: 6.49%Net margin, FY2025: 7.64%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 16.42%. Gross margin FY2022 12.28%. Gross margin FY2023 15.88%. Gross margin FY2024 15.69%. Gross margin FY2025 17.39%. Operating margin FY2021 13.29%. Operating margin FY2022 8.41%. Operating margin FY2023 9.66%. Operating margin FY2024 10.01%. Operating margin FY2025 12.44%. Net margin FY2021 1.07%. Net margin FY2022 6.61%. Net margin FY2023 6.83%. Net margin FY2024 6.49%. Net margin FY2025 7.64%.

Income trends

Revenue

50.28B CNY+4.10%

Operating income

6.26B CNY+29.40%

Net income

3.84B CNY+22.47%
Income trends across reported periods55.28B CNY35.29B CNY15.3B CNY−4.68B CNYRevenue, FY2021: 29.2B CNYRevenue, FY2022: 35.66B CNYRevenue, FY2023: 44.11B CNYRevenue, FY2024: 48.3B CNYRevenue, FY2025: 50.28B CNYOperating income, FY2021: 3.88B CNYOperating income, FY2022: 3B CNYOperating income, FY2023: 4.26B CNYOperating income, FY2024: 4.84B CNYOperating income, FY2025: 6.26B CNYNet income, FY2021: 313.18M CNYNet income, FY2022: 2.36B CNYNet income, FY2023: 3.01B CNYNet income, FY2024: 3.14B CNYNet income, FY2025: 3.84B CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 29.2B CNY. Revenue FY2022 35.66B CNY. Revenue FY2023 44.11B CNY. Revenue FY2024 48.3B CNY. Revenue FY2025 50.28B CNY. Operating income FY2021 3.88B CNY. Operating income FY2022 3B CNY. Operating income FY2023 4.26B CNY. Operating income FY2024 4.84B CNY. Operating income FY2025 6.26B CNY. Net income FY2021 313.18M CNY. Net income FY2022 2.36B CNY. Net income FY2023 3.01B CNY. Net income FY2024 3.14B CNY. Net income FY2025 3.84B CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue50.28B CNY48.3B CNY44.11B CNY35.66B CNY29.2B CNY
Cost of goods sold41.54B CNY40.72B CNY37.1B CNY31.28B CNY24.41B CNY
Gross profit8.74B CNY7.58B CNY7B CNY4.38B CNY4.79B CNY
Research and development1.5B CNY1.38B CNY1.25B CNY978.11M CNY960.37M CNY
Selling, general, and administrative181.64M CNY210.3M CNY221.07M CNY161.53M CNY155M CNY
Operating expenses2.49B CNY2.74B CNY2.74B CNY1.59B CNY1.49B CNY
Interest income94.81M CNY118.41M CNY153.73M CNY123.43M CNY123.93M CNY
Interest expense636.4M CNY759.92M CNY969.39M CNY763.6M CNY817.57M CNY
Depreciation and amortization5.7B CNY5.13B CNY4.54B CNY4.17B CNY4B CNY
Operating income6.26B CNY4.84B CNY4.26B CNY3B CNY3.88B CNY
Net income3.84B CNY3.14B CNY3.01B CNY2.36B CNY313.18M CNY

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
63%
5 beats, 3 misses, 0 met estimates
Average EPS surprise
+195.49%
8 comparable reports
Latest EPS result
0.2
Estimate 0.58 · Miss by 64.67%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.620.450.290.12Q4 '24BeatQ4 '24No estimateQ2 '25No estimateQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26Estimate
Q4 2024, reported Oct 29, 2024: actual 0.18, estimate 0.14, surprise +28.57%, Beat. Q4 2024, reported Dec 31, 2024: actual 0.154, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 23, 2025: actual 0.203, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 26, 2025: actual 0.451, estimate 0.274, surprise +64.90%, Beat. Q4 2025, reported Oct 27, 2025: actual 0.284, estimate 0.208, surprise +36.59%, Beat. Q1 2026, reported Mar 24, 2026: actual 0.145, estimate 0.2, surprise -27.70%, Miss. Q2 2026, reported Apr 22, 2026: actual 0.205, estimate 0.58, surprise -64.67%, Miss. Q3 2026, reported Aug 26, 2026: actual —, estimate 0.2, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates17.85B15.51B13.17B10.84BQ4 '24No estimateQ4 '24No estimateQ2 '25No estimateQ3 '25MetQ4 '25MissQ1 '26MetQ2 '26MetQ3 '26Estimate
Q4 2024, reported Oct 29, 2024: actual 12.32B HKD, estimate —, surprise —, Comparison unavailable. Q4 2024, reported Dec 31, 2024: actual 15.57B HKD, estimate —, surprise —, Comparison unavailable. Q2 2025, reported Apr 23, 2025: actual 11.52B HKD, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 26, 2025: actual 13.7B HKD, estimate 13.7B HKD, surprise 0.00%, Met estimate. Q4 2025, reported Oct 27, 2025: actual 12.6B HKD, estimate 14.14B HKD, surprise -10.88%, Miss. Q1 2026, reported Mar 24, 2026: actual 17.16B HKD, estimate 17.16B HKD, surprise 0.00%, Met estimate. Q2 2026, reported Apr 22, 2026: actual 12.86B HKD, estimate 12.86B HKD, surprise 0.00%, Met estimate. Q3 2026, reported Aug 26, 2026: actual —, estimate 13.05B HKD, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

HK$0.2506

2025 complete year+21.5% since 2021

2026 partial: HK$0.3235

* Partial calendar year in the available dividend history.

Corporate action history

Dividend

Ex-dividend Jun 9, 2026

HK$0.3235

Annual

Record Jun 10, 2026 · Payment Jun 30, 2026

Dividend

Ex-dividend Jun 9, 2025

HK$0.2506

Annual

Record Jun 10, 2025 · Payment Jun 30, 2025

Dividend

Ex-dividend Jun 7, 2024

HK$0.2306

Annual

Record Jun 11, 2024 · Payment Jun 28, 2024

Dividend

Ex-dividend Jun 7, 2023

HK$0.1786

Annual

Record Jun 8, 2023 · Payment Jun 30, 2023

Dividend

Ex-dividend Jun 15, 2022

HK$0.1761

Special

Record Jun 16, 2022 · Payment Jun 30, 2022

Dividend

Ex-dividend Jun 15, 2021

HK$0.2062

Annual

Record Jun 16, 2021 · Payment Jun 30, 2021

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