Core Viewpoint - CNOOC Services has released its strategic guidance for 2026, projecting capital expenditures of approximately 8.44 billion yuan, primarily for equipment investment, technology research and development, and base construction [1] Group 1: Capital Expenditure and Investment - The capital expenditure for 2026 is expected to be around 8.44 billion yuan, focusing on equipment investment and upgrades, technology R&D, and base construction [1] - The company plans to allocate approximately 3.5 to 4 billion yuan for equipment maintenance and upgrades, with potential new ship purchases [1] Group 2: Revenue and Profit Forecast - The company anticipates that high-value deepwater operations in Norway will gradually contribute to performance growth in the first half of 2026, with orders expected to extend until 2028 [1] - The daily rate for the South China Sea No. 8 drilling platform in Brazil is approximately 147,000 USD, with profit contributions expected to materialize in 2026 [1] - The profit forecast for 2026 has been raised by 3% to 4.5 billion yuan, with a net profit estimate for 2027 set at 4.77 billion yuan, while maintaining the 2025 net profit forecast [1] Group 3: Stock Ratings and Price Targets - The company maintains an "outperform industry" rating, with the A-share target price increased by 16% to 19.1 yuan, indicating a 22.8% upside potential [1] - The H-share target price has been raised by 15% to 10.2 HKD, reflecting a 17.2% upside potential [1]