CNOOC FINANCE CORPORATION LIMITED(zhong hai shi you cai wu you xian ze ren gong si )

cnooc finance corporation ltd

CNOOC Finance Co., Ltd. is a non bank financial institution providing financial and financial management services for CNOOC and its member units.

Company profile

CNOOC Finance Co., Ltd. (hereinafter referred to as "finance company") is the only financial institution within the group that can provide settlement and deposit business to its member units, aiming at the centralized management of the group's funds and improving the efficiency of the use of funds. Since its establishment, the financial company has made great progress in its service-oriented business. The scale of assets and deposits has been steadily rising, and no non-performing assets and non-performing loans have been generated.

The finance company has the class B membership of the national interbank bond trading market, the membership of the national interbank lending market, the membership of foreign currency lending of China foreign exchange trading center, the special seat for bond trading of Shanghai Stock Exchange and other trading qualifications, which provides a good platform for the finance company to carry out asset security, liquidity and profitability management.

Company achievements

Since its opening, the finance company has been committed to building a fund settlement platform covering CNOOC Group, a credit platform connecting internal and external institutions of the group, and an operation platform for maintaining and increasing the value of the group's funds, playing an important role in "risk control, cost reduction and value contribution" within the group, and giving full play to the support of financial means and financial services to the main business of the group.

In 2009, the total amount of the financial company's settlement business reached 742.3 billion yuan, with a year-on-year growth rate of 44%. Throughout the year, the company issued various preferential loans of 46.7 billion yuan to its members. At the end of the year, the credit balance reached 26.6 billion yuan, with a year-on-year growth of about 16%. Through various internal credit services, nearly 400 million yuan of interest expenses were saved for the group members. In 2009, the financial company successfully maintained zero records of non-performing assets and non-performing loans under complex situations. Standard & Poor's rating maintained a + (stable), and Moody's rating rose to A1 (positive), consistent with China's national sovereign rating.

Chinese PinYin : Zhong Hai Shi You Cai Wu You Xian Ze Ren Gong Si