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CNOOC Boosts Offshore Output and Reopens Huizhou Steam Cracking Unit

JPMorgan Upgrades CNOOC EPS Forecast and Maintains Rating

CLP and CNOOC Sign Memorandum to Deepen Energy Cooperation

BOCI Raises CNOOC Target Price to HKD 34.69 and Maintains Buy Rating

HSBC Global Research Maintains Buy Rating on CNOOC

CNOOC Maintains 2026 Capital Expenditure Plan

China's First Large-Scale Fracturing Vessel 'Marine Oil 696' Successfully Berths in Tianjin

CNOOC Announces First Quarter 2026 Net Profit Up 7.10% Year-over-Year

CNOOC released FY2026 Q1 earnings on April 28 Pre-Market (BJT), actual revenue HKD 131.6 B (forecast HKD 126.92 B), actual EPS HKD 0.9296 (forecast HKD 0.9523)

Morgan Stanley Sees Promise in CNOOC's Cost Advantages and Dividend Commitments, Upgrades to Overweight

Ocean Oil 166 Successfully Delivered to Beibu Gulf by China COSCO Shipping Zhiyuan Kou

CNOOC to Release FY2026 Q1 Earnings on April 28 Pre-Market (BJT), Forecast Revenue HKD 126.88 B, EPS HKD 0.9171

CNOOC Energy Development Delivers First Offshore Mobile Multi-functional Measure Platform

CNOOC Successfully Deploys Self-Developed 1500m Deep-Sea Drilling Riser System

CNOOC Tianjin Company Exceeds 10 Million Tons of Oil and Gas Production in First Quarter of Bohai Oilfield

CNOOC Releases 2025 Annual Report

Huansan Securities: CNOOC's Oil Cost Compressed, Maintains 'Buy' Rating

Citibank Raises Forecast and Target Price for CNOOC

Morningstar Raises Fair Value Estimate for China National Offshore Oil Corporation A Shares

REF HOLDINGS

KANGLI INT HLDG

JY GRANDMARK

GANGLONG CHINA

EDICO HOLDINGS

SHING CHI HLDGS

KWONG MAN KEE

JIN MI FANG GP

ZHONGKE GROUP

CH DEMETER FIN

600938

00883

Cnooc (600938) boosts offshore output and capacity in South China Sea, Brazil and Guyana, pursuing regional development in key offshore basins to expand production amid energy-driven growth plans.1Cnooc (600938) and Shell restarted Huizhou steam cracker in late April; plant now producing 1.2M t/yr ethylene and 600k t/yr propylene, on-spec output.2

TradingView

CNOOC

Shell PLC

Shell

CNOOC-R

Key facts: Cnooc boosts offshore capacity; Huizhou restarts 1.2M/600k

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BIREN TECH(06082) rose 14.8%, with a trading turnover 1.0 Billion HKD, and a year-to-date rose 198.7%. MONTAGE TECH(06809) rose 11.19%, with a trading turnover 1.7 Billion HKD, and a year-to-date rose 234.5%. PETROCHINA(00857) fell 8.48%, with a trading turnover 3.4 Billion HKD, and a year-to-date rose 27.6%. YANKUANG ENERGY(01171) fell 6.73%, with a trading turnover 974.1 Million HKD, and a year-to-date rose 52.8%.

Top Gainers&Losers

BIREN TECH

MONTAGE TECH

TECHTRONIC IND

SWIRE PACIFIC B

HUA HONG SEMI

PETROCHINA

YANKUANG ENERGY

CHINA COAL

CHINA SHENHUA

Top 5 HK Stock Gainers/Losers (>100B) (5.7)

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159546

159636

Hong Kong stocks closed on May 7 with all three major indices rising. The Hang Seng Tech Index led the market with a 3.09% gain. The AI wave continues to build momentum; Tencent's impressive large model data drove strength across key tech and internet stocks, while Kuaishou surged over 7%. Better-than-expected earnings from overseas computing giants, combined with NVIDIA's increased investment in the optical supply chain, catalyzed strong gains in semiconductors, fiber optics, and PCB sectors. Conversely, expectations of a US-Iran ceasefire weighed on international oil prices, causing traditional energy stocks including oil, gas, and coal to plunge against the trend. Additionally, prominent investor Duan Yongping's portfolio adjustment spurred intraday activity in Pop Mart, while Deepexi Technology saw heavy volume and a surge of over 50%

Market Pulse

China Merchants CSI Semiconductor Industry ETF

Guotai CSI All Share Integrated Circuit ETF

ICBCCS CNI HK Connect Technology ETF

Hang Seng Index

Hang Seng China Enterprises Index

Hang Seng TECH Index

TENCENT

KUAISHOU-W

BABA-W

SMIC

XL2CSOPHYNIX

XL2CSOPSMSN

Coherent Corp.

BIDU-SW

JD-SW

MEITUAN

YOFC

KB LAMINATES

FIT HON TENG

NVIDIA

Lumentum

Corning

CHINA LIFE

PING AN

CKH HOLDINGS

HSBC HOLDINGS

CATL

POP MART

DEEPEXI TECH

TRACKER FUND

HSCEI ETF

Tencent

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

Hua Hong

Montage Technology

KUAISHOU-WR

Alibaba

BABA-WR

Alibaba HK SDR 5to1

PetroCN HK SDR 1to2

SMIC HK SDR 5to1

BIDU-SWR

Baidu

JD-SWR

JD.com

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Meituan

Meituan HK SDR 5to1

NVIDIA Corporation

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HSBC

CSEC/China Shenhua

CATL HK SDR 30to1

POP MART HK SDR 20to1

Techtronic Industries

HK Stocks Close | Hang Seng Tech Index Rises Nearly 3%, Semiconductors Lead Gains, Oil & Gas Stocks Plunge as PETROCHINA Drops Over 8%

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PetroChina's stock fell over 7% amid a significant drop in oil prices, which plummeted by more than 10% due to market optimism regarding a potential US-Iran peace agreement. The stock hit an intraday low of HKD10.71 before closing at HKD10.85, down 7.1%. Other oil companies like CNOOC and Sinopec also experienced declines. In contrast, airline stocks such as Cathay Pacific and Air China saw gains of around 4.5% to 4.6%.

AASTOCKS News

SINOPEC CORP

PETROCHINA  Extends Afternoon Losses to Over 7%; YANKUANG ENERGY Slumps 7%

On May 7th, during the Hong Kong stock market session, the three major indices collectively surged, with the Hang Seng Tech Index leading the market with a 2.67% increase. Boosted by the strong performance of U.S. tech stocks overnight and the progress of AI commercialization, tech giants rallied across the board, with Kuaishou soaring nearly 7% and Alibaba and Baidu rising over 4%. Meanwhile, the photovoltaic sector collectively rose due to expectations of profit recovery, and insurance and real estate stocks also performed well. In contrast, the traditional energy sector faced pressure, as expectations of easing geopolitical tensions in the Middle East led to a significant withdrawal of oil risk premiums, causing oil, gas, and coal stocks to decline sharply against the trend

- Hong Kong's stock market showed positive momentum, with major indices rising collectively; the Hang Seng Index increased by 1.45% to 26,593.49 points.  
- Notable stock performances included Kuaishou, which rose 6.80%, and Alibaba, which gained 4.55%.  
- Despite strong gains in technology and solar sectors, energy stocks fell sharply amid a decline in global crude oil prices, with Brent crude dropping 7.83% to $101.27 per barrel.

LB Select

Hong Kong stocks intraday | Technology stocks lead the Hang Seng Index up nearly 2%, oil, gas, and coal stocks weaken due to the US-Iran talks

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ILUVATAR COREX(09903) rose 20.22%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 287.3%. MINIMAX-W(00100) rose 12.62%, with a trading turnover 1.4 Billion HKD, and a year-to-date rose 386.7%. AKESO(09926) fell 5.89%, with a trading turnover 924.7 Million HKD, and a year-to-date rose 13.1%. GALAXY ENT(00027) fell 2.83%, with a trading turnover 688.9 Million HKD, and a year-to-date fell 15.9%.

ILUVATAR COREX

MINIMAX-W

WEICHAI POWER

KNOWLEDGE ATLAS

AKESO

GALAXY ENT

SIGENERGY

Top 5 HK Stock Gainers/Losers (>100B) (5.4)

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159731

561360

563150

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HSBC has reaffirmed its Buy rating on CNOOC Limited (NC2B) with a price target of HK$32.30, while the shares closed at HK$28.98. The analyst consensus suggests a Strong Buy rating with an average price target of €3.57, indicating a significant downside. Additionally, DBS also maintained a Buy rating with a price target of HK$34.50.

Tip Ranks

China Universal CSI Oil & Gas Resources ETF

ChinaAMC CSI Petrochemical Industry ETF

Guotai CSI Oil & Gas Industry ETF

Yinhua CSI Oil & Gas Resources ETF

Bosera CSI Oil & Gas Resources Index ETF

DBS Group

HSBC Reaffirms Their Buy Rating on CNOOC Limited (NC2B)

KBAB

07300

BABX

07200

07500

Guosen Securities reported a decline in the Hong Kong stock position ratio and overweight allocation to Hong Kong stocks by mainland active equity mutual funds in 1Q26. The total size of mainland active equity funds eligible for Hong Kong investments was RMB2,095.1 billion, with top 10 heavyweight holdings amounting to RMB121.7 billion, down from RMB155.0 billion in 4Q25. Notable stocks include Tencent, Alibaba, and CNOOC, with significant short selling activity observed.

KraneShares 2x Long BABA Daily ETF

FI CSOP HSI

BABA 2x Long Daily ETF - GraniteShares

FL2 CSOP HSI

FI2 CSOP HSI

GUOSEN SECURITIES

INNOVENT BIO

SKB BIO

GEELY AUTO

3SBIO

CHINA MOBILE

China Mobile

GEELY AUTO-R

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

Geely Auto

Sunshine Guojian Pharmaceutical

CN Mobile HK SDR 5to1

CHINA MOBILE-R

Guosen Securities Lists Top 10 HK Heavyweight Holdings of Mainland Active Equity Mutual Funds in 1Q26 (Table)

JPMorgan has issued a research report indicating that CNOOCis expected to raise its mid- to long-term production target due to a sustained increase in oil prices. CNOOC reported a net profit of RMB39.1 billion for Q1 2026, reflecting a 96% quarter-on-quarter and 7% year-on-year increase. Despite adjusting its maintenance plan and accelerating project construction, the company will not change its FY2026 earnings guidance for now. JPM has raised its EPS forecasts for CNOOC by 3% and maintains an Overweight rating with a target price of HKD33 for its H shares.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPM Expects CNOOC  to Raise Mid- to Long-term Production Target, Maintains Overweight

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