During the 14th China Finance Summit and Innovation Entrepreneurs Summit 2025 held recently, Zhao Shunqiang, Chairman and Chief Executive Officer of China Oilfield Services Limited (“COSL” or the “Company”), garnered the Outstanding Influential Entrepreneur Award owing to his remarkable achievements in innovation and development of the Company as well as his entrepreneurship.
Established in 2012, the Finance Summit is a large-scale event and brand established by a number of domestic finance and mass media members, and serves as among the most influential thought exchange platforms in the Chinese economic world. Every year, it attracts participation and reports from more than 200 important members of the financial media. Its overall media exposure, coverage, and audience outreach exceed 60 million people.
With the global oil and gas industry layout undergoing accelerated adjustment, outstanding entrepreneurs have become essential for a company to seize development opportunities, shape the industrial framework, and lead its future development. Zhao Shunqiang has led COSL in upholding the Company’s strategic commitments, promoting entrepreneurship, and implementing the five development strategies of technology-driven, cost leadership, integration, internationalization, and regional development. In turn, it has been able to deliver new experiences that exceed the expectations of global customers, underpinned by “amazing technology” and “excellent service”.
Zhao Shunqiang pointed out that it is imperative for the Company to secure a strategic leading position and key supporting role in technological innovation. It needs to break down industry barriers by capitalizing on its strength in providing “full lifecycle + whole industry chain” coverage, build a technological system featuring comprehensive mainstream technologies, prominent core technologies, and outstanding specialized technologies, and through continuous iterations develop standalone products, comprehensive solutions, and integrated services, thereby providing strong support for efficient energy development and green transformation. To date, the Company’s five independently developed technology brands, “Xuanji”, “Xuanyue”, “Haijing”, “Haimai” and “Haihong” have entered the international markets. As for the “Xuanji” brand, it only took one year to achieve its second “1,000 Wells and Million Meters Drilling Milestone”, while the “Haijing”, “Haimai” and “Haihong” brands have received high recognition from overseas customers and the industry. The “Xuanyue” product series is sold back to top international peers via the sales model, and two independently developed new technologies have won OTC Awards. The Company’s brand value has increased 29.27% year-on-year to a historical high of RMB 8.316 billion. Employing its advanced supreme technologies, COSL has also developed one-stop solutions to meet industry needs.
With the management at the helm, the Company remains steadfast in its ultimate commitment to service excellence, strengthening partnerships with customers by fostering a shared vision of mutual success, and embracing the concept of “delivering high-quality wellbore products to customers”. Through full lifecycle services across exploration, development, engineering, and production, with a focus on the "work efficiency" and "functionality and effectiveness" indicators, COSL continuously promotes digital intelligence empowerment, highlights collaborative synergy for greater efficiency, and releases the tremendous potential of resources and management “dividends” to truly create added value for its customers. At the same time, COSL is driving the green production transformation by applying new energy technologies and establishing a dynamic balance between economic benefits and social responsibilities.
The Company’s value pursuit of “always exceeding customers’ expectations” has also resulted in its outstanding performance, surpassing market expectations. In 2024, the Company achieved an operating revenue of RMB48.30 billion, representing an increase of 9.5%, and its overseas revenue reached RMB10.88 billion, hitting a record high. Fifteen influential investment banks and brokerages at home and abroad, including Guotai Haitong, CICC, Citigroup, and JPMorgan Chase, have released research reports that highly praise the Company.
Receiving the Outstanding Influential Entrepreneur Award is not only a complete affirmation of Chairman Zhao Shunqiang’s entrepreneurial spirit, but also testifies to the profound impact that COSL has had on the oilfield services industry, driven by its innovative development in corporate governance, technological innovation, sustainable development and service philosophy. Under the leadership of the management, COSL will focus on taking proactive actions, realize breakthroughs by implementing reforms and overcoming difficulties, and truly achieving a mutually successful situation with customers, employees, partners and shareholders!
