SINOPEC SSC (01033) announced its interim results, reporting a net profit attributable to shareholders of 510 million yuan, a year-on-year increase of 3.5%.

SINOPEC SSC (01033) released its semi-annual performance for 2026, reporting operating revenue of 37.664 billion RMB, an increase of 1.7% year-on-year; net profit attributable to shareholders of the listed company was 510 million RMB, an increase of 3.5% year-on-year; basic earnings per share were 0.027 RMB. In the first half of 2026, the companys geophysical exploration services business achieved main operating revenue of 1.7 billion RMB, a decrease of 6.2% compared to 1.81 billion RMB in the same period last year. The company completed 3,482 kilometers of 2D seismic surveys, a year-on-year increase of 87.3%; completed 5,429 square kilometers of 3D seismic surveys, a year-on-year increase of 3.9%. The qualification rate for 2D and 3D data recording was 100%, and the first-class rate for seismic acquisition data improved by 1.4 percentage points. During the first half of the year, the company promoted and applied a number of new geophysical exploration technologies, such as drone inspections, drone aerial photography, and I-BBS autonomous excitation systems, effectively improving service quality and production efficiency; successfully implemented five seismic projects within the China Petroleum & Chemical Corporation group, with a contract amount of 160 million RMB, and new domestic and external seismic project contracts totaling 460 million RMB, a year-on-year increase of 39.8%; continued to promote the effective development of new businesses such as borehole seismic, pipelines, surveying, gravity and magnetic electric studies, and environmental energy-saving projects, among which the Beidou business showed sustained growth, with new contract amounts up 26.5% year-on-year. In the first half of 2026, the companys drilling services business achieved main operating revenue of 18.2 billion RMB, nearly flat compared to 18.19 billion RMB in the same period last year. The company completed 5.74 million meters of drilling, a year-on-year increase of 2.5%, completing 54.2% of the annual plan and exceeding planned progress. The company deepened the integrated operation of both parties, strengthened the operational management and technical support of key work areas and demonstration areas, and continuously improved service quality and efficiency, with significant accomplishments in the "four improvements" of drilling, achieving an average mechanical drilling speed improvement of 4.3% year-on-year. The completion of the Fanyan 2-6HF well reached a depth of 5,867 meters with a drilling cycle of 16.87 days, setting the record for the shortest drilling cycle in Shengli shale oil; the TK169 well was completed at a depth of 5,400 meters with a drilling cycle of 10.98 days, setting the record for the shortest drilling cycle for 5,000-5,500 meter depth wells in the China Petroleum & Chemical Corporation group; drilling rig utilization continued to improve, with the average utilization rate of the drilling team increasing by 0.8 percentage points and the footage per team increasing by 3% year-on-year. The Ziyang ultra-deep shale gas deepening well factory adopted intensive construction and fine reservoir reconstruction, achieving over 1,000 meters of footage in a single day, with the mechanical drilling speed of the horizontal section of the Ziyang 16 well increasing by 12%; the Fuling conventional shale gas fully applied the Idrilling (Yinglong) scientific drilling system, improving the average mechanical speed of the well section by 10.5% and shortening the average drilling cycle by 14.2%; key technologies for tight gas breakthroughs showed that the drilling cycle in the Sichuan West Xujiahe formation was shortened by 5.4%, and mechanical drilling speed increased by 7.3%.