COOEC(SH:600583)2024-11-06 08:09Group 1: Financial Performance - The gross profit margin reached a record high in Q3, primarily due to enhanced value management actions and improved cost control, particularly in materials and subcontracting [1] - The company aims to maintain revenue above CNY 30 billion and seeks to stabilize and further improve the gross profit margin [1] - The average dividend payout ratio over the past three years has exceeded 40%, with a focus on maintaining stable and continuous cash flow for dividends [3] Group 2: Market and Orders - The company is tracking nearly 800 projects, with significant activity in the Middle East, including Saudi Arabia, Qatar, and the UAE, where bidding for offshore projects remains active [1] - The target for market growth this year is close to CNY 30 billion, with expectations for substantial order acquisition in the second half of the year [2] - The company has seen a linear growth trend in overseas orders, securing projects at prices above market rates [3] Group 3: Fleet and Capital Expenditure - The company plans to increase the proportion of self-owned vessels from the current level to between 50% and 80%, with a total of 900 additional days of vessel availability this year [2] - The focus is shifting towards deepwater operations and underwater technology services, with ongoing adjustments to the team and resources based on business needs [2] - The company is gradually expanding its service range to include lifecycle services for oil and gas fields, indicating potential future involvement in operational expenditures [3]