Jereh Group(SZ:002353)2022-12-08 03:06Group 1: Industry Overview - The current oil and gas environment remains unclear, with oil prices lingering at low levels, leading to a reduction in upstream capital expenditures by global oil companies, resulting in over 170,000 layoffs in the oil industry [1] - The long-term outlook suggests that domestic oil and gas reforms and demand will promote the marketization of China's oil service industry, while low oil prices will pressure major oil-producing countries, leading to a gradual recovery in oil prices [1] Group 2: Company Operations - The company is currently facing an overall downturn in the oil and gas industry, with global oil companies reducing capital expenditures and new project investments since 2014, prompting the company to undergo strategic adjustments and optimize its workforce [1] - The domestic market for drilling equipment has significantly declined compared to the previous year, while the overseas market has shown notable growth, driven by the company's overseas sales strategy and stable or increasing international oil production [2] Group 3: Future Business Outlook - The company's focus for the second half of the year will be on overseas markets, particularly in emerging countries and those involved in the Belt and Road Initiative, which will drive demand for oilfield equipment and engineering services [2] - The company aims to enhance its international market share and strengthen its overseas business capabilities by attracting international talent and advancing its global strategy [2]