Recently, the winners of the Sixth China Finance Award were announced. Zhao Shunqiang, chairman and chief executive officer (CEO) of China Oilfield Services Limited (“COSL” or the “Company”), was honored with the “Best Business Leaders” Award.
The China Finance Award are hosted by China Financing, one of the most forward-looking financial magazines in Hong Kong, with the joint participation of authoritative organizations: the Hong Kong Securities Association, the Hong Kong Investment Funds Association, the Hong Kong China Mergers and Acquisitions Association, the Hong Kong Investor Relations Association, and the Hong Kong Stock Analysts Association. The China Financing targets high-end businessman in domestic and international capital markets. The China Finance Award aims to select outstanding models among entrepreneurs at home and abroad, recognizing their outstanding performance. With the fair and impartial evaluation mechanism and the authority of the evaluation committee, it has been widely recognized and praised by all walks of life.
Since Zhao Shunqiang has served as the Chairman of COSL in 2021, he has consistently adhered to innovation-driven development, relying on an efficient corporate governance system to actively promote the construction of modern corporate system with distinctive Chinese features. Under his leadership, the Company has focused on enhancing overall strength, and guided by five strategies of “technology-driven”, “cost leadership”, “integration”, “internationalization” and “regional development”. The Company is actively cultivating new quality productive forces, continuously optimizing the four maps of “technology, products, intellectual property, and digitalization”, and driving rapid improvement in market expansion capabilities. COSL gave full play to the functions the Board of Directors in the entire process of corporate governance, coordinated the allocation of resources, optimized the management processes and business processes, and accelerated the Company’s transformation from mass scale to quality and efficiency, thus establishing a new pattern of “domestic and foreign businesses going hand in hand and the whole industrial chain developing synergistically”.
From 2021 to 2023, the Company’s total revenue grew from RMB29.2 billion to RMB44.1 billion, with total profit growing at a CAGR of more than 50% over the three-year period, and it made continuous breakthroughs in terms of operational efficiency improvement, profitability, cutting-edge technology and market scale. The Company made continuous efforts to innovate service modes, strengthen the capacity building of technology industrialisation, improve resource delivery and industrial control, and give full play to the comparative advantages of the whole industry chain with the "integration" development strategy. The Company, relying on its high-quality operations, has created sound and considerable value returns for its shareholders.
Looking ahead, Zhao Shunqiang said that COSL will uphold the corporate philosophy of “Always Do Better”, continuously increase investment in research and development of new technologies, improve the application of technology industrialisation, promote the digitalization and intelligence of industries, develop new quality productive forces, enhance global competitiveness, and continue to move forward towards the goal of a world-class energy service company with Chinese characteristics.
