HK Stock Market Move | China Oilfield Services (02883) rose by over 5% after its performance results, as geopolitical tensions have dragged down the number of days for drilling platform operations. The company's global competitiveness is gradually increasing.

China Oilfield Services (02883) rose by more than 5% after the performance report was released. As of the press release, it rose by 5.09% to 9.09 Hong Kong dollars, with a turnover of 92.2771 million Hong Kong dollars. On the news front, China Oilfield Services released its first-quarter performance, with operating income of 11.296 billion yuan, a year-on-year increase of 4.6%; the net profit attributable to shareholders of the listed company was 856 million yuan, a year-on-year decrease of 3.6%. Sinolink pointed out that international geopolitical turmoil led to a decrease in the number of days of operation of the company's drilling platforms compared to the same period last year. With the easing of geopolitical conflicts, the number of days of operation and the daily rate of drilling platforms are expected to improve and increase. GF SEC previously released a research report stating that according to the company's financial report over the past 25 years, the proportion of related transactions with CNOOC in the company's operating income decreased from 86% in 2021 to 79% in 2025. The company has seen overseas growth outpacing domestic growth for several years, gradually enhancing its global competitiveness. The Middle East conflict has further accelerated the global trend towards energy independence and control, leading to an increase in drilling rig utilization rates and expanding the company's profit elasticity.