Shandong Molong (00568) saw a simultaneous drop in its A and H shares. As of the time of writing, A-shares hit the trading limit, while H-shares fell by 14.51%, trading at HKD 4.30 with a turnover of HKD 703 million. The company announced that it had not identified any undisclosed significant information that might have greatly impacted its stock trading price following recent media reports. They further stated that there have been no major changes in their production operations or external business environment recently or anticipated in the near future. Notably, the deep-earth economy has become a recent market focus, with Shandong Molong, which primarily manufactures oil drilling equipment, recording gains over five consecutive days, leading to a remarkable stock performance. Previously, the Ministry of Natural Resources indicated that during the 14th Five-Year Plan period, efforts would be accelerated to seize the standardized high ground in emerging and future industries such as deep-sea and deep-earth. The Ministry predicts that the global deep-earth economy will exceed USD 25 trillion by 2030, with the domestic deep-earth economy's related market expected to surpass RMB 5 trillion between 2026 and 2030, and an initial growth rate of 40% during the commercialization development phase.
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