Why CNOOC (CEO) can serve as a cornerstone stock for accounts: 1. As a major state-owned enterprise, it is not afraid of accounting fraud or bombs. There is no management risk—even if the chairman is arrested, it won't affect the company. 2. Monopoly over upstream resources. Products sell effortlessly, requiring no innovation or worry about obsolescence. Whatever is produced gets sold. 3. Products are internationally priced, avoiding price wars. With sustained production growth, both prices and sales show an upward trend over time. 4. Most importantly, the valuation is extremely low. Its profitability surpasses international peers, yet its valuation is only half of theirs, creating room for valuation recovery. 5. High cash flow, high dividends...