2024-03-27 16:00Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - The company achieved a significant increase in performance, with operating revenue reaching 44.11 billion RMB in 2023, a year-on-year increase of 23.7%, and a net profit attributable to shareholders of 3.01 billion RMB, up 27.8% year-on-year [4] - The drilling segment turned profitable, with a gross profit of 1.12 billion RMB, and the average operating days for drilling platforms increased by 6% year-on-year [4][5] - The technology segment's revenue share rose to 58%, marking a historical high, with a revenue increase of 31.4% year-on-year [5] - The company is expected to benefit from increased global upstream capital expenditure, with domestic orders primarily driven by CNOOC, which anticipates capital expenditures of 125-135 billion RMB in 2024 [5] Financial Summary - Total operating revenue for 2023 was 44,109 million RMB, with a gross profit margin of 15.9% [6][8] - The net profit attributable to shareholders for 2023 was 3,013 million RMB, with an earnings per share of 0.63 RMB [6][8] - The company forecasts operating revenues of 48,110 million RMB for 2024, with a projected net profit of 4,194 million RMB [6][8]