HK Stock Market Move | CNOOC (00857) rises more than 3%, with a net profit attributable to the parent company in the first three quarters reaching 126.294 billion yuan. Free cash flow will still maintain resilience.

PetroChina (00857) rose more than 3%, and as of the deadline, it rose by 2.95% to 24.46 Hong Kong dollars, with a turnover of 655.225 million Hong Kong dollars. In terms of news, recently, PetroChina released its third quarter report for 2025. According to International Financial Reporting Standards, for the three months ending on September 30, the group's operating income was 719.157 billion yuan, an increase of 2.3% year-on-year; net profit attributable to the parent company's shareholders was 42.287 billion yuan, a decrease of 3.9% year-on-year; and earnings per share were 0.23 yuan. For the nine months ending on September 30, the group's operating income was 2.169256 trillion yuan, a decrease of 3.9% year-on-year; net profit attributable to the parent company's shareholders was 126.294 billion yuan, a decrease of 4.9% year-on-year; and earnings per share were 0.69 yuan. Goldman Sachs released a research report stating that PetroChina's EBITDA and net profit in the third quarter decreased by 5% and 4% respectively year-on-year, showing resilience compared to a 13% drop in Brent crude oil prices during the same period. EBITDA for the period exceeded the bank's expectations by 3%, possibly due to strong performance in the upstream business and natural gas sales. Capital expenditures for the first three quarters reached 65% of the bank's full-year expectations, slightly higher than the historical average of 61%; cash flow for the same period also reached 125% of the bank's full-year expectations, compared to the historical average of 108%. Lyon believes that PetroChina has the best dividend outlook and dividend stability among its peers, making it the preferred choice among the three major oil companies.