HK Stock Market Move | China Oilfield Services (02883) rose more than 6% after the performance. The third quarter performance exceeded market expectations, with overseas high day-rate drilling driving an increase in profit margin.

China Oilfield Services (02883) rose more than 6% after the performance, rising by 6.06% to 7.52 Hong Kong dollars as of the time of publication, with a trading volume of 84.4 million Hong Kong dollars. On the news side, China Oilfield Services released its third-quarter financial results, achieving operating income of 11.533 billion yuan, a year-on-year increase of 3.6%; net profit attributable to shareholders of listed companies was 1.246 billion yuan, a year-on-year increase of 46.1%. CICC pointed out that the third-quarter performance in 2025 exceeded market expectations, with an increase in drilling operation days compared to the previous year. CICC also pointed out that the company's gross profit margin in the third quarter of 2025 increased by +2ppt year-on-year to 13%, mainly due to the contribution of the high daily rate project in the North Sea. In addition, the high-value orders in Norway's deepwater sector are expected to continue, and the profit contribution from deepwater operations in Brazil is expected to gradually increase. The global drilling market sentiment is also showing signs of recovery. In addition, oilfield services saw a slight decline compared to the previous year.