Announcement • May 29
Offshore Oil Engineering Co.,Ltd, Annual General Meeting, Jun 23, 2026 Offshore Oil Engineering Co.,Ltd, Annual General Meeting, Jun 23, 2026, at 14:30 China Standard Time. Location: Office Building, Tower A, No. 199, Haibin 15th Road, Tianjin Port Free Trade Zone, Tianjin China Announcement • Mar 30
Offshore Oil Engineering Co.,Ltd to Report Q1, 2026 Results on Apr 25, 2026 Offshore Oil Engineering Co.,Ltd announced that they will report Q1, 2026 results on Apr 25, 2026 Announcement • Dec 26
Offshore Oil Engineering Co.,Ltd to Report Fiscal Year 2025 Results on Mar 21, 2026 Offshore Oil Engineering Co.,Ltd announced that they will report fiscal year 2025 results on Mar 21, 2026 Announcement • Sep 30
Offshore Oil Engineering Co.,Ltd to Report Q3, 2025 Results on Oct 25, 2025 Offshore Oil Engineering Co.,Ltd announced that they will report Q3, 2025 results on Oct 25, 2025 Announcement • Jun 30
Offshore Oil Engineering Co.,Ltd to Report First Half, 2025 Results on Aug 16, 2025 Offshore Oil Engineering Co.,Ltd announced that they will report first half, 2025 results on Aug 16, 2025 Announcement • Mar 28
Offshore Oil Engineering Co.,Ltd to Report Q1, 2025 Results on Apr 26, 2025 Offshore Oil Engineering Co.,Ltd announced that they will report Q1, 2025 results on Apr 26, 2025 Announcement • Mar 18
Offshore Oil Engineering Co.,Ltd, Annual General Meeting, Apr 08, 2025 Offshore Oil Engineering Co.,Ltd, Annual General Meeting, Apr 08, 2025, at 14:30 China Standard Time. Location: Block A, No. 199, Haibin 15th Road, Tianjin Port Free Trade Zone, Tianjin China Announcement • Dec 27
Offshore Oil Engineering Co.,Ltd to Report Fiscal Year 2024 Results on Mar 18, 2025 Offshore Oil Engineering Co.,Ltd announced that they will report fiscal year 2024 results on Mar 18, 2025 New Risk • Oct 29
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Oct 28
Third quarter 2024 earnings released: EPS: CN¥0.12 (vs CN¥0.09 in 3Q 2023) Third quarter 2024 results: EPS: CN¥0.12 (up from CN¥0.09 in 3Q 2023). Revenue: CN¥7.00b (up 7.3% from 3Q 2023). Net income: CN¥548.0m (up 41% from 3Q 2023). Profit margin: 7.8% (up from 6.0% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Buy Or Sell Opportunity • Oct 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.4% to CN¥5.59. The fair value is estimated to be CN¥7.17, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last 3 years. Earnings per share has grown by 42%. Revenue is forecast to grow by 30% in 2 years. Earnings are forecast to grow by 24% in the next 2 years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to CN¥5.82, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Energy Services industry in China. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at CN¥7.20 per share. Announcement • Sep 30
Offshore Oil Engineering Co.,Ltd to Report Q3, 2024 Results on Oct 28, 2024 Offshore Oil Engineering Co.,Ltd announced that they will report Q3, 2024 results on Oct 28, 2024 New Risk • Aug 20
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 24% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Aug 19
Second quarter 2024 earnings released: EPS: CN¥0.16 (vs CN¥0.12 in 2Q 2023) Second quarter 2024 results: EPS: CN¥0.16 (up from CN¥0.12 in 2Q 2023). Revenue: CN¥7.76b (down 3.6% from 2Q 2023). Net income: CN¥721.5m (up 35% from 2Q 2023). Profit margin: 9.3% (up from 6.7% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Offshore Oil Engineering Co.,Ltd to Report First Half, 2024 Results on Aug 19, 2024 Offshore Oil Engineering Co.,Ltd announced that they will report first half, 2024 results on Aug 19, 2024 Declared Dividend • Jun 14
Dividend of CN¥0.15 announced Shareholders will receive a dividend of CN¥0.15. Ex-date: 18th June 2024 Payment date: 18th June 2024 Dividend yield will be 2.4%, which is higher than the industry average of 1.8%. Sustainability & Growth Dividend is well covered by both earnings (39% earnings payout ratio) and cash flows (9% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: CN¥0.11 (vs CN¥0.10 in 1Q 2023) First quarter 2024 results: EPS: CN¥0.11 (up from CN¥0.10 in 1Q 2023). Revenue: CN¥5.67b (down 11% from 1Q 2023). Net income: CN¥475.0m (up 6.0% from 1Q 2023). Profit margin: 8.4% (up from 7.0% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Apr 26
Offshore Oil Engineering Co.,Ltd, Annual General Meeting, May 16, 2024 Offshore Oil Engineering Co.,Ltd, Annual General Meeting, May 16, 2024, at 14:30 China Standard Time. Location: Block A, No. 199, Haibin 15th Road, Tianjin Port Free Trade Zone, Tianjin China Announcement • Mar 29
Offshore Oil Engineering Co.,Ltd to Report Q1, 2024 Results on Apr 25, 2024 Offshore Oil Engineering Co.,Ltd announced that they will report Q1, 2024 results on Apr 25, 2024 Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: CN¥0.37 (vs CN¥0.33 in FY 2022) Full year 2023 results: EPS: CN¥0.37 (up from CN¥0.33 in FY 2022). Revenue: CN¥30.8b (up 4.7% from FY 2022). Net income: CN¥1.62b (up 11% from FY 2022). Profit margin: 5.3% (up from 5.0% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to CN¥6.02, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 13x in the Energy Services industry in China. Total returns to shareholders of 32% over the past three years. Announcement • Dec 29
Offshore Oil Engineering Co.,Ltd to Report Fiscal Year 2023 Results on Mar 19, 2024 Offshore Oil Engineering Co.,Ltd announced that they will report fiscal year 2023 results on Mar 19, 2024 Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: CN¥0.09 (vs CN¥0.082 in 3Q 2022) Third quarter 2023 results: EPS: CN¥0.09 (up from CN¥0.082 in 3Q 2022). Revenue: CN¥6.52b (down 16% from 3Q 2022). Net income: CN¥389.2m (up 10.0% from 3Q 2022). Profit margin: 6.0% (up from 4.6% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: CN¥0.12 (vs CN¥0.075 in 2Q 2022) Second quarter 2023 results: EPS: CN¥0.12 (up from CN¥0.075 in 2Q 2022). Revenue: CN¥8.05b (up 9.0% from 2Q 2022). Net income: CN¥535.0m (up 47% from 2Q 2022). Profit margin: 6.7% (up from 4.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Jun 28
Offshore Oil Engineering Co.,Ltd to Report First Half, 2023 Results on Aug 21, 2023 Offshore Oil Engineering Co.,Ltd announced that they will report first half, 2023 results on Aug 21, 2023 Reported Earnings • Mar 21
Full year 2022 earnings released: EPS: CN¥0.33 (vs CN¥0.084 in FY 2021) Full year 2022 results: EPS: CN¥0.33 (up from CN¥0.084 in FY 2021). Revenue: CN¥29.4b (up 48% from FY 2021). Net income: CN¥1.46b (up 294% from FY 2021). Profit margin: 5.0% (up from 1.9% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Xiaohua Qiu is the most experienced director on the board, commencing their role in 2016. Independent Director Xin Wei was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: CN¥0.082 (vs CN¥0.031 in 3Q 2021) Third quarter 2022 results: EPS: CN¥0.082 (up from CN¥0.031 in 3Q 2021). Revenue: CN¥7.74b (up 73% from 3Q 2021). Net income: CN¥353.7m (up 137% from 3Q 2021). Profit margin: 4.6% (up from 3.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 25
Second quarter 2022 earnings released: EPS: CN¥0.074 (vs CN¥0.058 in 2Q 2021) Second quarter 2022 results: EPS: CN¥0.074 (up from CN¥0.058 in 2Q 2021). Revenue: CN¥7.38b (up 69% from 2Q 2021). Net income: CN¥363.0m (up 30% from 2Q 2021). Profit margin: 4.9% (down from 6.4% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to stay flat compared to a 17% growth forecast for the Energy Services industry in China. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Apr 30
First quarter 2022 earnings released: EPS: CN¥0.03 (vs CN¥0.03 in 1Q 2021) First quarter 2022 results: EPS: CN¥0.03 (vs CN¥0.03 in 1Q 2021). Revenue: CN¥4.35b (up 41% from 1Q 2021). Net income: CN¥118.1m (down 1.4% from 1Q 2021). Profit margin: 2.7% (down from 3.9% in 1Q 2021). Over the next year, revenue is forecast to grow 12%, compared to a 21% growth forecast for the industry in China. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 2 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Director Xiaohua Qiu is the most experienced director on the board, commencing their role in 2016. Independent Director Xin Wei was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Oct 31
Third quarter 2021 earnings released: EPS CN¥0.031 (vs CN¥0.07 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: CN¥4.48b (down 17% from 3Q 2020). Net income: CN¥149.4m (down 54% from 3Q 2020). Profit margin: 3.3% (down from 6.0% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 17% share price gain to CN¥5.50, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 22x in the Energy Services industry in China. Total returns to shareholders of 4.2% over the past three years. Reported Earnings • Aug 28
Second quarter 2021 earnings released: EPS CN¥0.058 (vs CN¥0.014 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: CN¥4.38b (up 4.6% from 2Q 2020). Net income: CN¥279.9m (up 358% from 2Q 2020). Profit margin: 6.4% (up from 1.5% in 2Q 2020). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • May 02
First quarter 2021 earnings released: EPS CN¥0.03 (vs CN¥0.07 loss in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: CN¥3.09b (up 34% from 1Q 2020). Net income: CN¥119.8m (up CN¥424.5m from 1Q 2020). Profit margin: 3.9% (up from net loss in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 23
Full year 2020 earnings released: EPS CN¥0.08 (vs CN¥0.006 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: CN¥17.9b (up 21% from FY 2019). Net income: CN¥363.3m (up CN¥335.4m from FY 2019). Profit margin: 2.0% (up from 0.2% in FY 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Jan 31
New 90-day low: CN¥4.23 The company is down 2.0% from its price of CN¥4.30 on 03 November 2020. The Chinese market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥0.48 per share. Is New 90 Day High Low • Oct 19
New 90-day low: CN¥4.50 The company is down 7.0% from its price of CN¥4.84 on 21 July 2020. The Chinese market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥0.36 per share. Is New 90 Day High Low • Sep 25
New 90-day low: CN¥4.52 The company is down 2.0% from its price of CN¥4.60 on 24 June 2020. The Chinese market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Energy Services industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is CN¥1.82 per share.