Recently, the list of winners of the 19th "Round Table Award" for Boards of Directors of Listed Companies in China was officially announced. Zhao Shunqiang, the Chairman and Chief Executive Officer (CEO) of China Oilfield Services Limited (hereinafter referred to as “COSL” or the “Company”), was honored with the "Most Strategic Chairman" award for his highly forward-looking strategic perspective and outstanding contributions in leading the high-quality development of the enterprise.
The organizer of this selection, Directors & Boards Magazine, is approved by the National Press and Publication Administration and is the only professional periodical in China that focuses on corporate governance. The entire selection process includes preliminary evaluation by the judging panel, review by regional listed company associations, media publicity, and final review by experts. The purpose of the selection is to recognize and commend companies that have established a paradigm and demonstrated excellence in corporate governance. This selection serves as an important benchmark for evaluating the level of corporate governance in Chinese listed companies.
Mr. Zhao Shunqiang, as a leading figure of COSL, has innovatively proposed five development strategies to guide the Company's high-quality development in the new period under the complex background of accelerated adjustment of the global oil and gas industry layout: "technology-driven", "cost leadership", "integration", "internationalization" and "regional development". Driven by the strategy, the Company has accelerated the incubation of original, transformative, and breakthrough research innovations. Technologies such as logging, directional drilling, drilling fluids, and well cementing have entered the forefront of the global industry. Advanced products such as "Xuanji (璇玑)", "Haijing (海经)" and "Haimai (海脉)" have achieved world-class status. The "Haihong (海弘)" series of oil and gas extraction tools have been widely utilized on a large scale both domestically and internationally, benefiting from the support of the "smart factory". Currently, the technology sector has accounted for more than half of the total revenue of the Company, and the Company is accelerating the transition from a volume-based and scale-oriented model to a quality-driven and efficiency-focused model. As a result, the Company's brand value has reached a historic high of RMB6.433 billion.
Under the leadership of Mr. Zhao Shunqiang, COSL has accurately grasped the industry's changing trends, strategically planned its global industrial layout and integrated the expansion of overseas operations, forming a new "1+2+N" market pattern of "leveraging the domestic market as the foundation, with the Middle East and Asia-Pacific as the two wings, driving the positive development of potential overseas regions”. The Company has continuously secured large-scale, long-term, and high-value service contracts in overseas markets, gradually entering a "dividend period" characterized by sustained growth and stable profitability. In 2023, the Company's total operating revenue reached a record high of RMB44.1 billion, with a year-on-year increase of over 40% in total profit and a compound growth rate of over 50% in the past three years, showcasing a new era of leapfrog development and operational excellence for the Company.
Winning the "Most Strategic Chairman" award is not only a full affirmation of Mr. Zhao Shunqiang's strategic vision and outstanding achievements, but also a high degree of recognition by the capital market of the effectiveness of COSL's strategic practice and high-quality development results. Under the leadership of Mr. Zhao Shunqiang, COSL will firmly adhere to the "Five Development Strategies", accelerate the cultivation and development of new productive forces in the journey of the new era, and strive to write a new chapter in the construction of a world-class energy service company!
