Sinopec Oilfield Service Corporation’s Net Profit Rose 95.6% in First Quarter of 2023

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 145.1 million yuan in the first quarter of 2023, up 95.6% year-on-year.

Meanwhile, the company posted 17.9 billion yuan in revenue, up 16.9% year-on-year.

At the end of the reporting period, it had 71.4 billion yuan in total assets and 63.6 billion yuan in total liabilities, with a liability-to-asset ratio of 89.1%.