BOC International has issued a research report stating that CHINA OILFIELD (02883) recorded a net profit of RMB 1.964 billion in the first half of this year, representing a 23% year-on-year increase. This result aligned with the firm's expectations and has already achieved 49% of their original full-year forecast for the company.

The firm anticipates that the company's second-half earnings will remain flat compared to the first half. While drilling equipment operating in high-rental areas will contribute to profitability, adverse factors facing other business segments are expected to offset this growth.

Although BOC International has revised down its earnings forecasts for CHINA OILFIELD for 2025-2027 by 3% to 11% and lowered its target price from HK$9.39 to HK$9.05, the firm has reaffirmed its "Buy" rating on the stock.