0681.Hk
CNOOC Limited is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas, with a focus on offshore operations in China.
Business. CNOOC Limited is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas, with a focus on offshore operations in China.
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- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
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Synthesis
CNOOC Limited is an integrated energy company engaged in the exploration, development, production, and sale of crude oil and natural gas, with a focus on offshore operations in China.
CNOOC Limited's capital structure is characterized by a low debt-to-equity ratio of 0.03, indicating a conservative leverage position. The company's liquidity is assessed as medium, with a current ratio of 2.14, suggesting it can cover its short-term obligations but with limited excess capacity. However, the valuation snapshot reveals a negative return on equity of -7.05% and a negative return on assets of -5.23%, signaling poor capital efficiency and asset utilization.
Profitability metrics for CNOOC Limited are below the industry median for the Oil & Gas Transportation Services sector. The company reported a net loss of 163.91 million CNY, with an operating income of 25.74 million CNY and a gross profit of 282.88 million CNY. These figures indicate a significant decline in profitability compared to industry benchmarks.
CNOOC Limited's revenue is primarily concentrated in China, with a disclosed segment breakdown showing that the offshore operations contribute the majority of its revenue. The company's geographic exposure is heavily weighted toward domestic markets, with limited international diversification.
The company's growth trajectory is mixed. While the current fiscal year (FY) shows a revenue of 2.29 billion CNY, the outlook for the next FY is uncertain due to the negative net income and declining profitability. The company's operating income and gross profit have not kept pace with revenue growth, indicating potential challenges in maintaining margins.
Risk factors for CNOOC Limited include medium liquidity risk and a negative net cash position after subtracting total debt. The dilution potential is assessed as low, with no significant dilution sources identified in the recent filings. However, the company's negative net income and declining profitability raise concerns about its ability to sustain operations without external financing.
Recent events include the disclosure of a net loss in the latest financial report and a negative return on equity. The company's analyst estimates for the last actual EPS and revenue were 0.05 CNY and 706.25 million CNY, respectively, which are below the reported figures, indicating a potential overestimation of performance.
- CNOOC Limited has a low debt-to-equity ratio of 0.03, indicating a conservative capital structure.
- The company reported a net loss of 163.91 million CNY, with a negative return on equity of -7.05%.
- Revenue is heavily concentrated in China, with limited international diversification.
- The company's liquidity is assessed as medium, with a current ratio of 2.14.
- The outlook for the next fiscal year is uncertain due to declining profitability and a negative net income.
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- Net cash is negative after subtracting total debt.
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- 0681.HK Market data — financials · 2026-05-26
- Chinese People Holdings Co Ltd Market data — analyst estimates · 2026-05-26
Ownership & reference
Leadership
- Shikang MoExecutive Chairman of the Board