巨濤海洋石油服務有限公司

HOME    |    Contact us    |    中文

News

  • Recruitment
  • Contact us
Position:Home page > News Center > News

Jutal Announced 2017 Annual Results

Date: 2018-03-23

Jutal Offshore Oil Services Limited announced its 2017 annual results on 23 March 2018 at Hong Kong.

Jutal achieved a total revenue of RMB724,469,000 in year 2017, realized a gross profit and net profit of RMB89,426,000 and RMB55,581,000 respectively. Basic earnings per share is RMB0.0432. The Board also announced a final dividend of HK$ 0.03 per ordinary share.

2017 marked a milestone in the development of the Group. During the year, Jutal gained strong support in both capital and business by introducing new controlling shareholders - Beijing Sanju Environmental Protection & New Materials Co., Ltd (“Sanju”). Through external acquisitions and internal business restructuring, Jutal further strengthened its engineering and manufacturing capabilities and actively explored new business areas and models with an aim to make strategic deployment for its future development.

With Sanju investing into the Company, the Group’s financial needs are satisfied and businesses of both parties are complemented with synergies achieved. Sanju owns a number of core technologies and project resitsces, while the Group as a provider offering leading equipment manufacturing and engineering technologies as well as integrated service in the energy industry for a long time, has a strong presence and extensive experience in equipment manufacturing, engineering construction and international projects. As a result, both parties can complement each other and enhance their competitiveness in the market through the dual strategy of “professionalism + capital”, which will be favorable to the expansion of its business in China and overseas markets as well as the long-term development of the Company. 

At the end of 2017, Jutal completed the acquisition of the other 70% equity interest of Penglai Jutal Offshore Engineering Heavy Industries Company Limited (“Penglai Jutal”). Penglai Jutal bases in the Penglai Economic and Technological Development Zone in Yantai of Shandong Province in China and owns plants in Bohai Bay, with a total area of approximately 630,000 square meters. It has profound experience in and enjoys an international reputation for certain construction work such as large-scale catheterostat , onshore LNG modules, FPSO/FLNG related modules, offshore platform upper modules, offshore wind power and single point mooring system. In 2017, Penglai Jutal operated 9 projects in total and has completed all the construction of a total of 33 modules and delivered in advance for Russia’s YAMAL LNG project undertaken in 2014, representing a realization of over 25 million working hitss of zero accident, with excellent quality and high level of safety. After completion of the acquisition, Penglai Jutal became a wholly-owned subsidiary of the Company, which strengthened the Group's construction capabilities remarkably and also enabled the Group to optimize its resitsce allocation and implement more efficient management by making full use of its advantage of having two major construction sites in both northern and southern China.

While maintaining its traditional oil and gas engineering and service projects, Jutal had extended its footstep to the areas of refinery market, environmental protection market, wind power market and biodiesel last year, taking up a production project of a series of modules for an oil refinery plant located in Argentina and undertaking the structure manufacturing and machinery installation for the first ever offshore wind power project in Guangdong province. Jutal also provided domestic chemical projects with comprehensive engineering services including engineering design, construction, equipment supply and project management. During the year, Jutal prepare for its further development in the biomass energy business with establishment of professional teams.
With global economy picking up, oil prices have stabilized and regained upward momentum and oil companies are expanding their investments in the exploration and development of oil and gas, which in turn facilitates the gradual recovery of the oil and gas engineering and technical service industry.

After years of development, Jutal have already built up strong capability in equipment and modular engineering manufacturing and are highly recognized by international energy companies and general contracting companies in the industry. Jutal will continue to establish its bases in Penglai and Zhuhai to make appropriate and reasonable investments with a view to enhance its project management and construction capabilities as well as its core competitiveness and identify market opportunities in a timely manner.

In line with the “One Belt, One Road” development strategy of China and leveraging on the Group’s edges in engineering and fabrication and Sanju’s advanced super-suspension bed technology, we will not only expand our business into energy and refining and chemical industries and the area of efficient and clean use of energy, but also participating in and undertaking relevant engineering construction and project management business, while actively promoting the development of modular manufacturing in overseas markets.

Sanju is actively allocating its resitsce into the ecological agriculture and green energy industry, which in turn will create a great number of market opportunities for the Group.

In the coming year, Jutal will accelerate the upgrading and transformation of its business and establish a business model that combines product sales and service operation. Meanwhile, Jutal will also identify suitable resitsces to carry out capital reorganization by capital acquisitions, so as to become a professional service provider of equipment manufacturing, engineering services and industrial operations in the fossil energy and green energy industries.
 
返回