On the evening of March 17, Offshore Oil Engineering Co., Ltd. (hereinafter referred to as "the Company" or "COOEC") released its 2024 annual operating results.

In 2024, the Company closely followed the development trends of the global energy industry, and firmly grasped the main line of high-quality development. Driven by technological innovation, it focused on building new capabilities for high-quality development, and made practical efforts to further promote the construction of a world-class marine energy engineering company with Chinese characteristics. In 2024, the Company achieved an operating income of RMB 29.954 billion and a net profit attributable to shareholders of the listed company of RMB 2.161 billion, a record high in the past 9 years. As at December 31, 2024, the total assets were RMB 48.231 billion; the net assets attributable to shareholders of the listed company were RMB 26.267 billion; the asset-liability ratio was 41.38%; the capital structure continued to remain sound; and the high-quality development trend was more stable.

The workload remained high, and multi-field collaboration yielded results. In 2024, the Company implemented a total of 73 projects above designated size, of which 34 were completed within the year; completed 453,900 tons of steel processing, continuing to remain high; successfully delivered Asia's first deepwater jacket "Haiji No.2", achieving new upgrades of the "Haiji" deepwater series of products, and high-level autonomy in the design and construction technology of all types of floating production, storage, and offloading (FPSO) units; successfully created Asia's first cylindrical FPSO "Haikui No.1", further enhancing the Company's industry influence in the high-end FPSO construction field; completed the second phase construction of China's first deep-water high-pressure gas field "Deep Sea No.1", effectively supporting a 50% increase in the peak annual output of the "Deep Sea No.1" ultra-deep-water gas field, and was awarded the First National Award for Science and Technology Progress for the key technologies and applications of the development project of the "Shenhai-1" ultra-deep-water gas field; successfully completed the construction of the Saudi Aramco Marjan Oil and Gas Gathering and Transportation Platform, which is the heaviest and most capable international offshore oil and gas platform delivered by China, marking a new breakthrough in the international offshore oil and gas engineering construction capabilities of Chinese enterprises; independently developed and completed a new TLP-based floating wind power technology, which obtained the Approval In Principle certificates from the China Classification Society and the Bureau Veritas, marking the Company's capability in prototype design for TLP floating wind power platforms and establishing a core competitive advantage in deep-sea wind power.

Efforts in market development were continuously increased, and a new development pattern featuring dual circulation was steadily built. In 2024, the Company obtained a market contract amount of RMB 30.244 billion, and had orders on hand of about RMB 40 billion, which provides strong support for future market development. The Company deeply developed the international market, continuously strengthened capacity building, and deepened the transformation into an international general contractor. It successfully signed a corporate framework cooperation agreement with Shell, and renewed a long-term cooperation agreement with Saudi Aramco, opening a new pattern in international development. The Company was listed on both the ENR Top 250 International Contractors and Top 250 Global Contractors for two consecutive years; won 16 awards including the "Golden Round Table" Award for Board of Directors, "Tianma Award" for Investor Relations, Top 100 Listed Company Growth Award, and Top 100 ESG Award, continuously enhancing recognition in the capital market.

The Company maintained a healthy cash position with ample cash flow. To share the Company's development achievements and actively give return to shareholders, the Board of Directors has proposed a cash dividend of RMB 2.01 (including tax) for every 10 shares, accounting for 41.12% of the net profit attributable to shareholders of the listed company in 2024.