COSL plans to expand into 4 to 5 new markets over the next five years, estimating overall oil prices to remain stable within the year

Zhao Shunqiang, Chairman and CEO of COSL (02883.HK), stated that he expects international oil prices to remain stable this year, fluctuating between $50 and $70, due to numerous abnormal production conditions leading to significant supply chain restructuring. He believes that the U.S. control over Venezuelan oil supplies has limited impact on China's crude oil supply, and the company has almost no business in Venezuela.

The company guides for capital expenditures of approximately RMB 8.44 billion by 2026. The company's Chief Financial Officer Qie Ji explained that about RMB 5.5 billion will be used for equipment investment, approximately RMB 1.1 billion for common materials, and around RMB 1.5 billion for routine maintenance and research. Regarding dividends, he stated that the actual decision still awaits the board meeting, but currently, the company's capital can support a "stable increase" in dividends.

In terms of overseas business, Vice President and Board Secretary Sun Weizhou mentioned that in the technology business segment, the revenue share from overseas markets has increased from about 13% at the beginning of the 14th Five-Year Plan to approximately 24% by the end of the plan. The company has established a stable market share in Southeast Asia and the Middle East and has developed new markets in Kuwait, Brazil, and Uganda over the past five years.

Sun Weizhou indicated that in the upcoming 15th Five-Year Plan, the company will increase its market share in new markets through new technologies and products, as well as enhancing its visibility and competitiveness. In already stable markets, it will also capture and replace competitors' shares. He anticipates that at least 4 to 5 new markets can be developed in the next five years