Sinopec Oilfield Service Corporation’s Net Profit Dropped 45.7% in First Half of 2022

Sinopec Oilfield Service Corporation (中石化石油工程技术服务股份有限公司) (600871.SH) reported a net profit of 200.3 million yuan in the first half of 2022, down 45.7% year-on-year.

Meanwhile, the company posted 33.1 billion yuan in revenue, up 5% year-on-year.

At the end of the reporting period, it had 65.7 billion yuan in total assets and 58.3 billion yuan in total liabilities, with a liability-to-asset ratio of 88.7%.