As of March 10, the cumulative crude oil production of North China Oilfield for the year has exceeded 1 million tonnes, demonstrating stable growth. In 2025, the field's SEC reserve replacement ratio remained above 1 for the fifth consecutive year, while the reserves-to-production ratio stabilized at a healthy level of 10.8.

The Group Company's 2026 work conference emphasized achieving a high-level reserves-to-production balance as a key foundational project, ensuring a robust reserves-to-production ratio through quality reserve additions. North China Oilfield has thoroughly implemented the principle of "increasing reserves before boosting production," incorporating the target of a solid SEC reserves-to-production ratio into its annual "Ten Key Projects." This approach guarantees a stable supply and efficient development of oil and gas resources, firmly securing the energy supply.

Strengthening the resource foundation is central to maintaining a stable reserves-to-production ratio. In recent years, North China Oilfield has focused on increasing economically recoverable reserves by intensifying exploration in new areas. Notably, the Bayan Oilfield added a consolidated tens of millions of tonnes in new SEC reserves. This year, the exploration system will continue to innovate geological understanding in mature areas and previously unexplored zones, enhancing risk exploration in new basins, new plays, new strata, and new reservoir types—the "four new" domains—to substantially grow the total SEC reserves.

Technological breakthroughs are being prioritized to drive the core momentum for reserves-to-production balance. The development system at North China Oilfield ensures high-quality development through high-standard planning. By refining reservoir characterization and reconstructing layer-series and well patterns, comprehensive management of mature fields is deepened, synchronizing efforts in field modification and progressive expansion to lay a solid foundation for SEC reserve growth.

Value orientation is highlighted through the establishment of an integrated business-finance SEC reserves management mechanism. North China Oilfield has incorporated the maintenance of a robust reserves-to-production ratio into key performance indicators, integrating it across the entire business chain to ensure that every unit of reserve translates into tangible benefits.