SHAREATE(688257)2024-03-08 07:36Group 1: Financial Performance - The company achieved operating revenue of 155,007.19 million yuan in 2023, representing a year-on-year growth of 30.95% [1] - Revenue from hard alloy products increased by 22.23% year-on-year, while revenue from hard alloy tools grew by 23.21% [1] - New business in oil instruments generated revenue of 13,538.56 million yuan [1] Group 2: Market Expansion - The company has significant overseas market potential, with subsidiaries in Australia, the USA, Canada, and South Korea, and plans to expand export scale [2][3] - The company aims to enhance its market share in international markets by seeking local partners with mining service experience [3] Group 3: Product Development and R&D - The company ranks among the top ten in domestic hard alloy production, with a leading market share in rotary teeth and oil diamond composite substrates [3] - The company is focusing on developing top hammer drilling tools to meet the growing demand in construction, mining, and energy sectors [3] - R&D efforts are directed towards material preparation, product structure, production processes, and testing technologies, with collaborations with universities to enhance research capabilities [4] Group 4: New Projects - New projects will produce hard alloy special-shaped products for wear-resistant tools, primarily used in oil and gas exploration and coal chemical industries [4] - The new projects also include the production of down-the-hole drilling tools and reamers, aimed at improving production efficiency and expanding the product system [4]