HK Stock Market Move | CHINA OILFIELD (02883) rises over 7%; net profit attributable to shareholders for the first three quarters was RMB3.233 billion; the company continues to build momentum in high-day-rate deepwater drilling.

CHINA OILFIELD (02883) rose over 7%, up 6.68% as of press time at HK$7.895, with turnover of HK$104 million. On the news front, on October 23, CHINA OILFIELD announced its results for the first three quarters of 2026. The group recorded operating revenue of RMB35.729 billion, up 2.5% year on year; net profit attributable to shareholders of the listed company was RMB3.233 billion, up 0.7% year on year; basic earnings per share were RMB0.68. A CICC research report noted that CHINA OILFIELD's semi-submersible rig operating days in 26Q3 were 1,166 days, up 13% year on year and down 6% quarter on quarter, and the high day rates from deepwater development are expected to bring better profit margins. CICC believes the company's benefit from rising day rates amid improving semi-submersible drilling supply and structural growth in deepwater oil and gas capital expenditure is expected to extend through 2030. In addition, in 9M26 the company's oilfield technology segment saw steady growth in workload and revenue, and CNOOC's full-year capital expenditure center of RMB120 billion is expected to provide effective support for the company.