Energy equipment and service refers to the exploitation, equipment and service of oil and natural gas.
Following the downturn of the global oil service industry in 2015, both the sales and prices of oil service declined. The most severe shrink appeared in the demand for highly profitable businesses such as fracturing. Affected by gloomy market demand, price changes and delayed delivery are common in contracted orders, significantly damaging account receivables and inventory turnover rate, and consequently, quality of cash flow per unit revenue.
In 2016, fixed asset investment in oil and gas exploitation was CNY 233.1 billion, decreasing by 31.9% YOY. By the end of 2016, total assets in the oil and gas exploitation industry amounted to CNY 2,003.63 billion, down by 3.2% YOY; income from main businesses reached CNY 647.03 billion, down by 16.8% YOY; the industry suffered a loss of CNY 47.63 billion. Chinese oil and chemical state-owned enterprises are heavily affected by oil price and oil exploitation costs. Huge drops in capital expenditure harm oil and gas reserve replacement and operations of downstream oil and gas engineering service companies. Rising costs and impacts of the investment environment weaken private companies' motivation to invest, especially in emerging fields.
In this report, CRI analyzes 22 energy equipment service providers listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1)financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
- Earnings per Share
- Book Value per Share (BPS)
- Sales per Share (SPS)
- Net Cash Flow per Share from Operations
- Net Cash Flow per Share (CNY)
- Return on Net Worth
- Net Profit Margin on Total Assets
- Return on Invested Capital (ROIC) (%)
- Gross Profit Margin on Sales (%)
- Net Profit Margin on Sales (%)
- EBIT Margin (%)
- EBITDA Margin (%)
- Debt to Asset Ratio (%)
- Total Asset Turnover (times)
- Cash/Operating Income Received from Sales of Goods or Services
- YOY Growth Rate of Operating Revenue (%)
- YOY Growth Rate of Operating Profit (%)
- YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
(2) Summary of Income Statement
- Gross Revenue (CNY, million)
- Total Operating Costs (CNY, million)
- Revenue (CNY, million)
- Operating Profit (CNY, million)
- Total Profit (CNY, million)
- Net Profit (CNY, million)
- Net Profit Attributable to Shareholders of Parent Company (CNY, million)
- Non-recurring Items (CNY, million)
- Net Profit Deducting Non-recurring Items (CNY, million)
- R&D Costs (CNY, million)
- Earnings Before Interest and Tax (EBIT) (CNY, million)
- Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (CNY, million)
(3) Summary of Balance Sheet
- Liquid Asset (CNY, million)
- Fixed Asset (CNY, million)
- Long-term Equity Investment
- Total Assets (CNY, million)
- Liquid Liability (CNY, million)
- Non-current Liability (CNY, million)
- Total Liability (CNY, million)
- Capital Reserve (CNY, million)
- Surplus Reserve (CNY, million)
- Undistributed Profit (CNY, million)
- Shareholders' Equity (CNY, million)
- Equity Attributable to Shareholders of Parent Company (CNY, million)
(4) Summary of Cash Flow Statement
- Cash Received from Sales of Goods and Services (CNY, million)
- Cash Flow from Operations (CNY, million)
- Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
- Cash Paid for Investments (CNY, million)
- Cash Flow from Investments (CNY, million)
- Cash Received from Investors (CNY, million)
- Cash Received from Borrowings (CNY, million)
- Cash Flow from Financing (CNY, million)
- Net Increase of Cash and Cash Equivalents (CNY, million)
- Cash and Cash Equivalents, End of Period (CNY, million)
- Depreciation and Amortization (CNY, million)
Companies in the report:
1 Petrochina Jinhong Energy Investment Co., Ltd. (000669.SZ)
2 Sinopec Oilfield Equipment Corporation (000852.SZ)
3 Taiyuan Coal Gasification Company, Limited (000968.SZ)
4 Xinjiang Zhundong Petroleum Technology Co., Ltd. (002207.SZ)
5 Shanghai SK Petroleum & Chemical Equipment Corporation LTD. (002278.SZ)
6 Yantai Jereh Oilfield Services Group Co., Ltd. (002353.SZ)
7 Shandong Molong Petroleum Machinery Co., Ltd. (002490.SZ)
8 China Oil Hbp Science & Technology Co., Ltd. (002554.SZ)
9 Zhejiang Renzhi Co., Ltd. (002629.SZ)
10 Xinjiang Beiken Energy Engineering Stock Co., Ltd. (002828.SZ)
11 Bode Energy Equipment Co., Ltd. (300023.SZ)
12 Haimo Technologies Group Corp. (300084.SZ)
13 LandOcean Energy Services Co., Ltd. (300157.SZ)
14 Xi'an Tongyuan Petroleum Technology Co., Ltd. (300164.SZ)
15 Chengdu Shenleng Liquefaction Plant Co., Ltd. (300540.SZ)
16 Offshore Oil Engineering Co., Ltd. (600583.SH)
17 Lanpec Technologies Limited (601798.SH)
18 Jiangsu Rutong Petro-Machinery Co., Ltd. (603036.SH)
19 Lanzhou LS Heavy Equipment Co., Ltd. (603169.SH)
20 Anhui Yingliu Electromechanical Co., Ltd. (603308.SH)
21 BOMESC Offshore Engineering Co., Ltd. (603727.SH)
22 Suzhou Douson Drilling & Production Equipment Co., Ltd. (603800.SH)
1 Petrochina Jinhong Energy Investment Co., Ltd. (000669.SZ)
2 Sinopec Oilfield Equipment Corporation (000852.SZ)
3 Taiyuan Coal Gasification Company, Limited (000968.SZ)
4 Xinjiang Zhundong Petroleum Technology Co., Ltd. (002207.SZ)
5 Shanghai SK Petroleum & Chemical Equipment Corporation LTD. (002278.SZ)
6 Yantai Jereh Oilfield Services Group Co., Ltd. (002353.SZ)
7 Shandong Molong Petroleum Machinery Co., Ltd. (002490.SZ)
8 China Oil Hbp Science & Technology Co., Ltd. (002554.SZ)
9 Zhejiang Renzhi Co., Ltd. (002629.SZ)
10 Xinjiang Beiken Energy Engineering Stock Co., Ltd. (002828.SZ)
11 Bode Energy Equipment Co., Ltd. (300023.SZ)
12 Haimo Technologies Group Corp. (300084.SZ)
13 LandOcean Energy Services Co., Ltd. (300157.SZ)
14 Xi'an Tongyuan Petroleum Technology Co., Ltd. (300164.SZ)
15 Chengdu Shenleng Liquefaction Plant Co., Ltd. (300540.SZ)
16 Offshore Oil Engineering Co., Ltd. (600583.SH)
17 Lanpec Technologies Limited (601798.SH)
18 Jiangsu Rutong Petro-Machinery Co., Ltd. (603036.SH)
19 Lanzhou LS Heavy Equipment Co., Ltd. (603169.SH)
20 Anhui Yingliu Electromechanical Co., Ltd. (603308.SH)
21 BOMESC Offshore Engineering Co., Ltd. (603727.SH)
22 Suzhou Douson Drilling & Production Equipment Co., Ltd. (603800.SH)