Shandong Molong Shares Slip in Afternoon Trading as Q1 Profit Rises Marginally and Crude Prices Decline

Stock News04-22

Shandong Molong (00568) saw its shares fall by up to 4% during afternoon trading. At the time of writing, the stock was down 3.34%, trading at HKD 8.11, with a turnover of HKD 223 million. In related market movements, international crude oil prices dropped sharply in the afternoon session. Brent crude futures declined by nearly 1%, currently quoted at USD 97.58 per barrel. Reports indicated that Iran has received "some indications" suggesting the U.S. is prepared to lift its maritime blockade, though no further details were provided. Separately, on the evening of April 21, Shandong Molong released its first-quarter financial results for 2026. The company reported revenue of RMB 666 million, a year-on-year increase of 128.53%. Net profit attributable to shareholders was RMB 5.584 million, up 2.96% compared to the same period last year. Basic earnings per share stood at RMB 0.0070.

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