Group 1 - The core point of the article is that 德石股份 (De Shi Co., 301158.SZ) has confirmed that its drilling tool orders are normal and the production line is operating at full capacity as of February 9 [2] Group 2 - An investor inquired about the year-on-year changes in orders since the beginning of 2026 and whether 2,800 sets of drilling tools would be delivered [2]

Core Viewpoint - The business model of the company's drilling tools exhibits a clear differentiation between domestic and international markets, with domestic operations focusing on drilling tool rentals and international operations primarily on sales [2] Company Analysis - The domestic oil and gas industry has experienced a downturn since 2015, leading companies to shift from one-time purchases of drilling tools to rental models to control costs and optimize cash flow [2] - The rental model presents a "double-edged sword" for the company, as it incurs higher operational costs due to the need for significant upfront investment in rental facilities and ongoing expenses related to maintenance, transportation, and staffing [2] - If the company's drilling tool products maintain stable quality and sufficient lifespan, the cumulative value generated from rentals may exceed that of one-time sales, potentially leading to higher profitability in the long run [2]

Core Viewpoint - The company emphasizes the importance of a safety-oriented operational framework, utilizing a specialized accounting system to establish a reasonable rated lifespan for drilling tools, which serves as the core basis for tool replacement [1] Group 1: Company Operations - The company has a diverse product line with over a hundred types of drilling tools, each with varying rated lifespans ranging from 40 to 240 hours [1] - Upon reaching the rated lifespan of the drilling tools, the company increases inspection efforts to determine whether replacement is necessary, ensuring safety in drilling operations [1]

Group 1 - The core viewpoint of the article highlights the distinct differentiation in the business model of the drilling tool segment between domestic and international markets, with domestic operations focusing on tool rental and international operations emphasizing tool sales [1] - The rental model is described as a "double-edged sword," where it incurs high operational costs due to the need for investment in maintenance stations and ongoing expenses related to repairs, transportation, and personnel [1] - However, if product quality is stable and the lifespan is sufficiently long, the cumulative value generated under the rental model may exceed that of one-time sales, potentially leading to higher profitability in the long run [1]

Group 1 - The core viewpoint is that geopolitical factors driving international oil prices upward will significantly support the expansion of global oil and gas exploration and development investment [1] - The company is expected to benefit from increased industry demand due to its strong product quality and professional comprehensive service capabilities, leading to growth in orders for core products such as drilling tools and wellhead equipment [1] - This demand increase is anticipated to create a positive driving force for the company's performance growth [1]

Core Viewpoint - The company, 德石股份, aims to focus on overseas markets and the development of unconventional oil and gas resources in domestic shale oil and gas, targeting a strategic goal of achieving 50% of total revenue from overseas operations [1] Group 1: Market Development and Revenue Goals - The company plans to increase investment and development efforts in oil and gas markets across North America, South America, Russian-speaking regions, the Middle East, Central Asia, and Africa [1] - The strategic goal is to have overseas revenue account for 50% of the company's total revenue [1] Group 2: Business Focus and Strategic Positioning - The company will continue to concentrate on drilling tools, equipment manufacturing, and service sectors, positioning itself as a manufacturer of downhole tools and integrated services [1] - The business scope includes various downhole tools for oil and gas development [1] Group 3: Leadership and Operational Capability - The new general manager, who has a background in the overseas marketing system of 杰瑞股份, brings extensive international market experience [1] - The appointment of the new general manager is expected to enhance the company's overseas operational capabilities and accelerate its international development [1]

Group 1 - The stock price of Deshi Co., Ltd. closed at 19.53 yuan on August 12, down 0.76% from the previous trading day [1] - The trading volume on that day was 62,995 hands, with a transaction amount of 123 million yuan, resulting in a turnover rate of 4.30% [1] - Deshi Co., Ltd. specializes in the research, production, and sales of oil drilling equipment, including drill bits and tools, and is classified under the specialized equipment manufacturing industry [1] Group 2 - Jerry Co., Ltd. is the largest shareholder of Deshi Co., Ltd., holding 44.15% of its shares [1] - The company stated on its interactive platform that there is no business correlation with Jerry Co., Ltd. [1] - On August 12, the net outflow of main funds for Deshi Co., Ltd. was 8.7956 million yuan, with a cumulative net outflow of 17.2539 million yuan over the past five trading days [1]