Shandong Molong (00568) dropped more than 4% in early trading. As of press time, the stock was down 3.95% at HK$3.77, with a turnover of HK$50.5243 million.
On the news front, Shandong Molong released its earnings results, posting revenue of 1.769 billion yuan for the first three quarters, a year-on-year increase of 48.05%; its net loss attributable to shareholders was 95.1786 million yuan.
It is worth noting that during the first three quarters, the company recorded total asset impairment provisions of 57.6256 million yuan. Excluding the asset impairment provisions, the company's net profit attributable to shareholders for the reporting period would have been -37.553 million yuan, a year-on-year decline of 791.46%.
It is also worth noting that the outlook for the US-Iran situation remains uncertain. According to reports, US Vice President Vance has sent a letter to Secretary of Iran's Supreme National Security Council Mohsen Rezaei in an attempt to restart negotiations. The report said the letter was sent under the authorization of US President Trump, and Trump himself was aware of the contact. However, Trump said on October 28 that he did not instruct Vance to send a letter to Iran.
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