Distinguished shareholders and investors, On behalf of the Board of Directors, I will now report to you the annual work of COOEC in 2022. Our mission and aspiration. The year 2022 marked the 20th anniversary of COOEC’s going public. Since listed on the Shanghai Stock Exchange on February 5, 2002, the first domestic branch of CNOOC to do so, COOEC has officially entered the capital market and ushered in a leap-forward development. Over the past two decades, all COOEC people have been braving the waves, forging ahead, making it our mission to secure national energy. From shallow beaches to deep seas, from Chengbei, Penglai and Kenli to Liwan, Lingshui and Lufeng, we pressed ahead with new heights of marine engineering. COOEC people have accelerated China’s offshore oil development from shallow water to ultra-deep water. Lean management and value creation. In the face of the increasingly complex domestic and international business environment throughout 2022, the Board of Directors led and united the management and all employees to take the opportunity of rising oil price, focus on the main business, and coordinate development and safety. Taking strategic objectives as a foothold, value creation as a starting point, lean management as a focus, reform and innovation as a growth point and risk control as a major issue to address, we have promoted the continuous improvement of the company’s core competitiveness, cultivated its internal driving force and enhanced its independent innovation. The results have turned out remarkable. Within the report period, it realized revenue of 29.358 billion yuan, a record high as a public company, 1.457 billion yuan of which was attributable to listed shareholders. By the end of December 2022, the company’s total assets totaled 42.639 billion yuan, with 23.703 billion yuan attributable to listed shareholders. And its asset-liability ratio was kept at 39.77%, indicating a healthy asset-liability structure and a steady high-quality development tendency. Innovation-driven development. In 2022, COOEC successfully delivered Haiji No.1, the first deep-water jacket platform in Asia, marking that the key technology and installation capability of China’s deep-water super-large jacket have reached the world-class level. Tianjin smart manufacturing base created a historic breakthrough in domestic offshore oil and gas smart manufacturing, accelerating its digital and intelligent transformation. The company won the bid for a series of new energy and new industrial projects involving LNG, offshore floating wind power and submarine data center, marking a broader road towards green development. The successful handover of overseas projects such as Shell Penguin cylindrical FPSO and Canadian LNG serialization module earned the company more praise in the international market. The company’s management goes leaner as we adapted the value management system to our development in an all-round way. 25.64 billion yuan of new contracts was signed in the whole year, and about 35.5 billion yuan of orders remained to be done by the end of 2022, which provided a minimum guarantee for the workload in the next 1-2 years. We will keep forging ahead despite a long way to go. The year 2023 kicks off the full implementation of the spirit of the 20th Party Congress, plays a pivot role in the 14th Five-Year Plan, and props up the high-quality development. Under the spirit of the 20th CPC National Congress, the company will take high-quality development as a strategic, overall and urgent task. We will comprehensively enhance our understanding of high-quality development, conscientiously develop practical measures and implementation paths for high-quality development, and pursue the steadiness and growth of both asset quality and operating performance. We will grasp the dual drive of endogenous growth and epitaxial development, seek the reciprocity of market layout and industrial structure, promote the deepening and integration of technological innovation, reform and development, strengthen risk management and compliance management, and keep high-quality development advancing forward on the right track. We will give back to the society, shareholders and employees with more excellent performance! Here, I would like to express my heartfelt gratitude to all the shareholders who have rendered support for the company’s reform and development, to all sectors of society who care about the company’s growth and development, and to all employees who share the company’s destiny! The road forward was broad, and we are in the finest time. With more than 20 years of unremitting efforts, COOEC has outlined a magnificent picture of China’s offshore oil industry with youth and sweat. To start a new journey, we will forge ahead hand in hand with all shareholders and jointly create a more brilliant future. |